FTX CEO Denies Any Talks of Acquiring Robinhood

Crypto exchange FTX clarified it is not in talks to acquire Robinhood Markets

Bloomberg News reported this week that crypto exchange FTX is in talks to buy the trading platform giant Robinhood Markets.

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"There are no active M&A conversations with Robinhood," Sam Bankman-Fried said in an emailed statement to Reuters.

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Sam Bankman however expressed his wish to partner with the app-based trading platform in the future.

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Sam Bankman-Fried revealed a 7.6% stake in Robinhood last month.

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The company had a market valuation of nearly $7 billion as of Friday's closing price.

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The US subsidiary of FTX announced last month that it would launch a stock trading platform by the end of the summer.

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Earlier, FTX bailed out BlockFi by providing $250 million revolving credit.

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