Alameda Lent Sam Bankman-Fried $546 Million for Robinhood Stake

FTX founder fights for control of millions of Robinhood shares
Ex-executive Gary Wang also loaned millions to purchase stock

Ellison Admits She, Bankman-Fried Misled FTX Lenders

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By Ava Benny-Morrison and Jeremy Hill

December 27, 2022 at 10:27 PM UTC

This article is for subscribers only.

FTX founder Sam Bankman-Fried said he and former executive Gary Wang borrowed more than $546 million from Alameda Research to buy a nearly 8% stake in Robinhood Markets Inc, according to court papers.

The pair borrowed the funds earlier this year. The transactions were documented in a series of promissory notes, detailed in an affidavit that surfaced in a dispute in US bankruptcy court in New Jersey on Tuesday.