Crypto lender BlockFi sues Sam Bankman-Fried for Robinhood shares - report

BlockFi, the cryptocurrency lender that filed for bankruptcy protection earlier this week, had also sued FTX founder Sam Bankman-Fried's holding company, Emergent Fidelity Technologies, to recoup shares in Robinhood Markets ( NASDAQ: HOOD ) that were allegedly pledged to BlockFi as collateral three weeks ago, the Financial Times reported, citing loan documents. In a complaint filed on Monday, BlockFi noted that Emergent Fidelity Technologies defaulted on its obligations under a pledge agreement dated November 9. Emergent guaranteed the payment obligations of the borrower: Alameda Research, SBF's trading firm that had deep ties with FTX, the FT noted, citing legal correspondence. After entering the collateral deal with BlockFi, SBF still negotiated liquidating his Robinhood ( HOOD ) stake, two people with knowledge on the matter told the FT . Neither BlockFi nor FTX immediately responded to Seeking Alpha's requests for comment. Recall in May when Emergent reported a 7.6% stake in Robinhood ( HOOD ), equivalent to 56M shares at the time. HOOD stock gained 7.4% since then, but still down 66% from a year ago. Previously, (Nov. 28) some FTX customers were told to send wire transfers through Alameda .