• Federal authorities have seized $150 million in assets related to FTX co-founder and former CEO Sam Bankman-Fried, including Robinhood stock.
• Stocks, cash, and other assets totaling almost $700 million have now been seized by U.S. officials in connection with the ongoing probe.
• Current FTX CEO John Ray is attempting to recover the funds that the cryptocurrency exchange’s depositors lost when the company collapsed in November.

Following the collapse of cryptocurrency exchange FTX in November, the United States Department of Justice has seized $150 million in assets related to the company’s former CEO, Sam Bankman-Fried. The assets, including Robinhood stock, are part of a larger stash of almost $700 million in stocks, cash and other assets that have now been taken by U.S. officials in connection with their ongoing probe.

According to a court filing revealed on Friday, federal authorities have seized $150 million in assets from Bankman-Fried, a large chunk of which comes in the form of Robinhood stock. In December of last year, Bankman-Fried was charged with eight counts of money laundering and fraud, to which he pled not guilty. Two of his associates at FTX have since pled guilty to fraud charges, and are now collaborating with federal authorities.

The assets seized total almost $700 million, including cash held at several banks and assets placed at the cryptocurrency exchange Binance. This news comes as current FTX CEO John Ray attempts to recover the funds that the cryptocurrency exchange’s depositors lost when the company fell apart. Ray, who replaced Bankman-Fried as CEO to oversee FTX’s rehabilitation, has his hands full as he works to restore investor confidence and ensure the exchange’s future success.

The FTX brouhaha is ongoing, and it remains to be seen what will happen next. However, it is clear that U.S. officials are taking the matter seriously, and that they will continue to go after those involved in the company’s collapse. In the meantime, it is up to Ray to continue to rebuild FTX and make sure that future investors are protected.