Sam Bankman-Fried’s FTX Derivatives Exchange is reportedly making internal deliberations on how to acquire Nasdaq-listed brokerage firm Robinhood Markets Inc. However, FTX denied its claims.
Bloomberg reported earlier, citing people familiar with the deliberations, that the crypto behemoth has not made a formal offer to acquire Robinhood at this time, and one of the sources says the final decision may change in the coming days.
“We are excited about Robinhood’s business prospects and potential ways we could partner with them,” Bankman-Fried said Monday in an emailed statement, according to Bloomberg, “that being said, there are no active M&A conversations with Robinhood.”
Robinhood’s stock has once surged by 15% after Bloomberg reported that FTX was looking to acquire the popular trading app, Its share price closed at $9.12, was up 14%.
Beyond the world of cryptocurrencies, a lot of tech startups across the globe have been experiencing a massive devaluation owing to the gloomy...
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