According to the documentation ofcourt Stating that Sam Bankman-Fried It borrowed $546 million from Alameda Research to buy Robinhood (HOOD) stock.
SBF’s Robinhood stock caught the attention of BlockFi suing SBF for a million-dollar stake in Robinhood. However, to stop BlockFi’s efforts, FTX asked the bankruptcy judge to stop BlockFi from taking over Robinhood stock.
According to details from testimony provided to a Caribbean court, SBF and Gary Wang borrowed $546 million through a promissory note (PN) loan from Alameda Research in April and May. The borrowed money was used to buy a 7.6% stake in Robinhood in May.
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