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Bankman-Fried Denies FTX Robinhood Acquisition Report

FTX CEO Sam Bankman-Fried has actually rejected reports that FTX is preparing to obtain broker Robinhood stating that no active discussions were occurring.

Bloomberg was the very first to report the news, pointing out sources near the matter. The FTX CEO likewise purchased a 7.6% stake in Robinhood last month. Bankman-Fried fasted to put an end to the report, stating:

” We are thrilled about Robinhood’s company potential customers and prospective methods we might partner with them, and I have actually constantly been impressed by the organization that Vlad and his group have actually constructed. That being stated there are no active M&A discussions with Robinhood.”

Predictably, the report sent out Robinhood’s having a hard time stock cost flying, with a 14% boost in the hours following the news. It has actually considering that dropped, however no doubt financiers will keep a close eye on whether some type of partnership will occur.

Robinhood is upping its interest in the cryptocurrency area, with the platform set to launch a noncustodial wallet It has had a difficult 2022, nevertheless, with the business laying off workers amidst a depression in stock cost.

FTX likewise in the news

FTX is among the significant crypto exchanges on the marketplace, and its CEO has a hold over the crypto neighborhood and the media. The FTX Token DAO has actually raised $ 7 million, or 250,000 FTT, from its neighborhood, which will be transformed into an environment fund. The focus of the fund will be on crypto education, decentralized financing, and “reliable selflessness for the FTT neighborhood.”

Bankman-Fried enjoyed to see the neighborhood banding together. In other news, he guaranteed that he would contribute$ 1 billion to the Democrats’ U.S. governmental project. He likewise just recently stated that the Fed rate of interest walking was the primary factor behind the crypto market crash.

In any case, it appears like 2022 may be an eventful year for FTX. It seems getting ready for a great deal of company growth, even as the marketplace harms from the crash.

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