SBF entity that owns Robinhood stake goes bankrupt, Bloomberg says

Sam Bankman-Fried’s Emergent Fidelity Technologies, an offshore corporate entity that holds a Robinhood stake worth over $590M, has filed for bankruptcy, Bloomberg’s Jeremy Hill reports. The entity’s stake, which includes over 55M shares, has already been seized by the U.S. government and is facing competing claims from creditors, the author notes. Robinhood shares are down nearly 4% in afternoon trading. Reference Link