Robinhood CEO Clarifies No Direct Exposure With FTX

Vlad Tenev, CEO of Robinhood clarifies no direct contact with FTX.

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Tenev tweeted "Despite SBF having an equity stake in Robinhood, we have no direct exposure to Alameda, FTX, or any of its entities,".

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Also, he detailed “we've confirmed with our partners that they don't have material exposure either”.

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In the thread, he also mentioned, “In the past few days, we've been seeing elevated trading volumes and elevated crypto inflows.”

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FTX bought over 56 million shares of Robinhood. It was widely rumoured that Bankman-Fried intended to buy Robinhood outright.

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After Binance announced its plans to acquire FTT, the cryptocurrency market collectively collapsed.

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Robinhood is down by almost 30% in 5 days.

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