Illustration by Alex Castro / The Verge
Cryptocurrency exchange FTX is reportedly considering an acquisition of the trading platform Robinhood, according to a report from Bloomberg. Sources close to the situation told Bloomberg that FTX is still weighing the possibility and hasn’t yet made an offer.
When asked about the possible buyout, FTX CEO Sam Bankman-Fried stated that the company currently isn’t in the process of trying to acquire Robinhood. “We are excited about Robinhood’s business prospects and potential ways we could partner with them,” Bankman-Fried said in a statement to Bloomberg. “That being said, there are no active M&A [mergers and acquisitions] conversations with Robinhood.” The Verge reached out to FTX with a request for comment but didn’t immediately hear back. Robinhood declined to comment on the story.
In May, Bankman-Fried disclosed his 7.6 percent stake in Robinhood, which was worth about $648 million at the time, according to a 13D Securities and Exchange...
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