Shiba Inu

Billion

<ul> 
 <li>SBF declared a 7.6 percent investment in Robinhood half a year before the insolvency filing.</li> 
 <li>Robinhood stock rose by 2% in pre-market trade, trading at $11.10.</li> 
</ul> 
<a href="https://thenewscrypto.com/robinhood-expands-crypto-wallet-offerings-to-bitcoin-and-dogecoin/" target="_blank" rel="noopener noreferrer nofollow">Robinhood</a> has reportedly reached a deal with the US Marshals Service to buy back shares. As a result, the firm plans to repurchase $605.7 million worth of shares from Sam Bankman-Fried’s (SBF) Emergent Fidelity Technologies. 
Following the bankruptcy filings of SBF’s FTX and Emergent last year, the equities in issue fell under the scrutiny of the US government. The market seems to have responded well to this news, as Robinhood stock rose by 2% in pre-market trade, trading at $11.10. 
<h3 class="wp-block-heading" id="h-coordinating-closely-with-authorities">Coordinating Closely With Authorities</h3> 
SBF declared a 7.6 percent investment in Robinhood half a year before the insolvency filing in November. But he stressed that he had no plans to take over the trading platform. In addition to the insolvency, SBF faces legal disputes after being accused of fraud in connection with the collapse of the <a href="https://thenewscrypto.com/exchange-news-ftx-founder-sbf-seeks-partial-jail-release-for-defense-preparation/" target="_blank" rel="noopener noreferrer nofollow">FTX</a> exchange last year. 
Given the ambiguity surrounding the confiscated shares, Robinhood’s CFO <a href="https://investors.robinhood.com/governance/board-of-directors/person-details/default.aspx?ItemId=85f6ed66-7453-4292-af5a-662057983382" target="_blank" rel="noopener noreferrer nofollow">Jason Warnick</a> stressed the need of obtaining them “free and clear of any claims.” The corporation also expects to coordinate closely with the U.S. DOJ as it works through this complex matter. 
It was also announced in February that Robinhood will be repurchasing shares from Emergent Fidelity Technologies. Robinhood’s stock price has risen since the company said it will repurchase shares. But the business is having trouble as retail investors who were formerly quite active on Robinhood’s platform now seem wary due to the uncertain market. 
Highlighted Crypto News Today: 
<a href="https://thenewscrypto.com/shiba-inu-burns-a-staggering-5-billion-tokens-whats-ahead/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu Burns a Staggering 5 Billion Tokens, What’s Ahead?</a>

Robinhood Plans Repurchase of $605.7M Worth Shares Linked to FTX

Spis treści

TheNewsCrypto

Inne artykuły opublikowane 1 wrz 2023

SBF’s expert witnesses might cost $1,200 per hour

Shiba Inu Burns a Staggering 5 Billion Tokens, What’s Ahead?

SEC Might Prepare Argument to Reject Bitcoin ETF – Berenberg

BlackRock Made To Wait As SEC Delays Decision On Bitcoin ETFs

NFT Collectors Exiting the Market as NFT Trade Volume Plunges

NFAI Coin Trending on CoinMarketCap After Today’s 14% Surge – Here’s Why Not Financial Advice is ...

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!