{"id":31053,"date":"2022-06-28T05:06:09","date_gmt":"2022-06-28T09:06:09","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=31053"},"modified":"2022-06-28T05:06:36","modified_gmt":"2022-06-28T09:06:36","slug":"ftx-exchange-is-reportedly-looking-to-acquire-robinhood","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ftx-exchange-is-reportedly-looking-to-acquire-robinhood\/","title":{"rendered":"FTX exchange is reportedly looking to acquire Robinhood"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-according-to-reports-ftx-crypto-derivatives-exchange-is-considering-acquiring-the-popular-crypto-trading-application-robinhood\">According to reports, FTX crypto derivatives exchange is considering acquiring the popular crypto trading application <a href=\"https:\/\/coinscreed.com\/staging\/robinhood-coinbase-plunges-as-binance-us-remove-these-fees.html\" target=\"_blank\" rel=\"noreferrer noopener\">Robinhood<\/a>.<\/h5>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-221.png\" alt=\"FTX exchange is reportedly looking to acquire Robinhood\" class=\"wp-image-31064\" width=\"737\" height=\"379\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-221.png 571w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-221-300x154.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-221-150x77.png 150w\" sizes=\"(max-width: 737px) 100vw, 737px\" \/><figcaption>FTX exchange is reportedly looking to acquire Robinhood<\/figcaption><\/figure>\n\n\n\n<p>Bloomberg stated on Monday that FTX is holding internal discussions about whether to acquire Robinhood, citing people with knowledge of the situation. <\/p>\n\n\n\n<p>Although no choice has been made regarding a takeover, FTX is thought to be seriously considering it. According to Bloomberg's contact, FTX has not yet approached Robinhood with a buyout bid and may still decide not to proceed with a purchase.<\/p>\n\n\n\n<p>In a follow-up comment to Bloomberg, <a href=\"https:\/\/coinscreed.com\/staging\/ftx-exchange-reportedly-plans-to-buy-stake-in-blockfi.html\" target=\"_blank\" rel=\"noreferrer noopener\">FTX CEO Sam Bankman-Fried<\/a> explained that while there were no ongoing merger discussions, his company was enthusiastic about the prospect of working with Robinhood:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\" id=\"h-we-are-excited-about-robinhood-s-business-prospects-and-potential-ways-we-could-partner-with-them-that-being-said-there-are-no-active-m-a-conversations-with-robinhood\"><p>\u201cWe are excited about Robinhood\u2019s business prospects and potential ways we could partner with them [&#8230;] That being said, there are no active M&A conversations with Robinhood.\u201d<\/p><\/blockquote>\n\n\n\n<p>The connection between FTX and Bankman-Fried and Robinhood is not new. It was revealed in May that the CEO of FTX had invested $650 million in a 7.6 percent stake in the discount brokerage. <\/p>\n\n\n\n<p>At the time, Bankman-Fried claimed that although the purchase demonstrated his opinion that Robinhood is an &#8220;<a href=\"https:\/\/www.google.com\/search?q=FTX+exchange+is+reportedly+looking+to+acquire+Robinhood&rlz=1C1SQJL_enNG889NG889&oq=FTX+exchange+is+reportedly+looking+to+acquire+Robinhood&aqs=chrome..69i57.479j0j9&sourceid=chrome&ie=UTF-8\" target=\"_blank\" rel=\"noreferrer noopener\">interesting investment,<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a>&#8221; he had no plans to alter or exert control over the company.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-twitter\"><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Of course we think it is an attractive investment too.  We have the best customer base, are introducing great new products, and we have the team to deliver.<\/p>&mdash; Robinhood Comms (@RobinhoodComms) <a href=\"https:\/\/twitter.com\/RobinhoodComms\/status\/1524859483897446421?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 12, 2022<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/div><\/figure>\n\n\n\n<p>FTX has shown no indications of slowing down its growth despite the beginning of the <a href=\"https:\/\/coinscreed.com\/staging\/banxa-plans-to-terminate-workers-contracts-as-crypto-winter-continues.html\" target=\"_blank\" rel=\"noreferrer noopener\">crypto winter<\/a>. In addition, earlier this month, FTX agreed to buy Canadian cryptocurrency platform Bitvo for an unknown sum after putting forth a $250 million bailout bid to Bitcoin lender BlockFi.<\/p>\n\n\n\n<p>FTX declared earlier this month that it would not be cutting its workforce despite widespread layoffs in the cryptocurrency exchange industry. On June 6, Bankman-Fried tweeted that his exchange intended to &#8220;keep developing&#8221; going forward.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to reports, FTX crypto derivatives exchange is considering acquiring the popular crypto trading application Robinhood. Bloomberg stated on Monday that FTX is holding internal discussions about whether to acquire Robinhood, citing people with knowledge of the situation. Although no choice has been made regarding a takeover, FTX is thought to be seriously considering it. [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":31064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[1223],"class_list":["post-31053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-robinhood"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-221.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=31053"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31053\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/31064"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=31053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=31053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=31053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}