The Fed will seize another $150 million in FTX assets in a case against a co-founder

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Federal prosecutors have seized $150 million in assets linked to Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, according to a new court document. That represents nearly $700 million in funds, cash and other assets held by federal authorities in connection with the case.

In early January, the federal government implemented an initial seizure of more than 55 million Robinhood shares and $20 million in cash. In the following weeks, prosecutors received more than $150 million in cash on behalf of FTX, but split it among various banks, according to the document.

Bankman-Fried was indicted last month on eight counts of money laundering and wire fraud, to which she pleaded not guilty. Two of his lieutenants at the cryptocurrency exchange have pleaded guilty to fraud charges and are cooperating with investigators.

In a separate investigation, the Justice Department is investigating $370 million in FTX assets that disappeared hours after the exchange filed for bankruptcy.

Read more: FTX and the Fall of Sam Bankman-Fried: A Timeline

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