🎉【Breaking News】FTX and Emergent Technologies reached an important agreement!

📅On September 6, 2024, FTX CEO John Ray III filed a legal document with the Delaware Bankruptcy Court, announcing that FTX will pay Emergent $14 million to settle the latter's administrative expenses for withdrawing 55 million Robinhood shares and related cash claims.

📈Public information shows that Emergent acquired approximately 56 million Robinhood shares through an agreement with Sam Bankman-Fried and Alameda Research in May 2022, which was valued at approximately $600 million at the time. However, after the collapse of FTX, the U.S. Department of Justice seized these shares in accordance with the law in January 2023.

🔍After multiple parties fought for ownership or equity claims of these shares, on September 1, 2023, these shares were repurchased by Robinhood for approximately $606 million.

🚀Despite market turmoil, Bitcoin remains strong and continues to lead the future of the cryptocurrency market!