E Point Perfect – Interesting and beneficial content

Crypto Exchange FTX in Talks to Buy Robinhood


FTX is thinking about getting the trading site Robinhood in the latest development around the crypto world. Robinhood has become a popular trading platform for young investors because of its commission-free trades and the flexibility of both traditional stocks and crypto-based investments, which has ignited interest from FTX.

FTX CEO Sam Bankman-Fried stated, “We are excited about Robinhood’s business prospects and potential ways we could partner with them.” He added, “That being said, there are no active M&A [mergers and acquisitions] conversations with Robinhood.”

According to a 13D Securities and Exchange Commission filing from May, Bankman-Fried reported his 7.6 percent investment in Robinhood, which was valued at around $648 million at the time. This type of filling is used when someone buys more than 5% of a business, but it can also indicate a possible takeover. The reports turned out to be accurate, and FTX is expected to make a formal bid soon.


Source link

Related posts

Far Out Solutions: Delivering the Best Customer-Centric IT Solutions

L3Harris Close to Acquire Aerojet Rocketdyne in $4.7 Billion Deal

5 Essential Tools To Optimize Your Content

How Do I Create an Employee Incentive Program?

The Advantages of Getting Car Windshield Replaced Professionally

3 Industries That Can Be Transformed by Blockchain Technology