Cryptocurrency lender BlockFi Inc has sued a holding company for FTX founder Sam Bankman-Fried, seeking to recover collateral pledged three weeks ago, before BlockFi and FTX filed for bankruptcy protection.
BlockFi in a complaint filed on Monday in New Jersey bankruptcy court said Emergent Fidelity Technologies Ltd has defaulted on its obligations under a Nov. 9 pledge agreement.
The Financial Times, citing loan documents, said the collateral at issue is Bankman-Fried’s stake in Robinhood Markets Inc.
Bankman-Fried is not named as a defendant.
