Yugocean
Valued Contributor
Sam Banksman-Fried, the CEO of FTX, has purchased a 7.6% share in Robinhood, a popular stock trading app.
The stock market has collapsed in tandem with the cryptocurrency market, forcing Robinhood to lose money in online brokerage trading. Robinhood, the brokerage platform that gained popularity with the incident of Gamestop in 2021, was struggling because it was in desperate need of investment at the time, which, FTX investment provided it.
Crypto Billionaire Fried paid $648 million for 7.6% of Robinhood shares at an average price of $11.52 per share.This helped Robinhood to start climbing again.
The source of this information is data from a filing by the US Securities and Exchange Commission, which has been the subject of market rumours.
Sam Banksman-Fried has no plans to interfere in Robinhood's operations , it is widely assumed that he will continue to be a regular investor. With this development, cryptocurrency will still have good effect on stock broking.
The stock market has collapsed in tandem with the cryptocurrency market, forcing Robinhood to lose money in online brokerage trading. Robinhood, the brokerage platform that gained popularity with the incident of Gamestop in 2021, was struggling because it was in desperate need of investment at the time, which, FTX investment provided it.
Crypto Billionaire Fried paid $648 million for 7.6% of Robinhood shares at an average price of $11.52 per share.This helped Robinhood to start climbing again.
The source of this information is data from a filing by the US Securities and Exchange Commission, which has been the subject of market rumours.
Sam Banksman-Fried has no plans to interfere in Robinhood's operations , it is widely assumed that he will continue to be a regular investor. With this development, cryptocurrency will still have good effect on stock broking.
