• February 28, 2024

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FTX CEO Sam Bankman-Fried Invests in Robinhood

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Billionaire Sam Bankman-Fried, CEO of crypto exchange FTX, bought a 7.6% stake in online broker Robinhood a few days ago. As a result of the move, the price of HOOD, the project’s asset, rose by almost 30%. According to available data, the total value of the acquired share is $650 million.

The media say that his decision to acquire a solid stake in one of the largest brokerage companies is quite justified from a strategic point of view.

The move was known by the crypto community after Bankman-Fried sent a corresponding report to the US Securities and Exchange Commission (SEC). The document revealed some details of the transaction, in particular, the billionaire said that the average price of one share was $11.52.