FTX might buy Robinhood.
Multiple people with knowledge of the matter told Bloomberg News today that CEO Sam Bankman-Fried is deliberating internally about how to go about buying the stock and crypto trading app. Per another anonymous source, Robinhood has not yet been formally approached with an offer, and no final decision has been made at FTX.
HOOD shares skyrocketed on the news, up more than 12% to $9.32 as of this writing, after hitting an all-time low of $6.89 just a few weeks ago.
Last month, Bankman-Fried bought 7.6% of Robinhood, saying at the time he had no intention of using his stake in the company to change or influence Robinhood’s direction.
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