Channels

Impact

Read

<div class="coingape"> 
 <p><span style="font-weight: 400">The stocks in question came under the US government’s purview after Sam Bankman-Fried’s FTX and Emergent filed for bankruptcy protection last year. This development has seen Robinhood shares rise by 2% in pre-market trading, indicating a positive response from the market.</span></p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
  <div id="my-banner-ad" class="d-inline-block"></div> 
 </div> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">$HOOD Robinhood to buy back Bankman-Fried's stake for $605.7 mln from US govt</p> 
  <p>— Stockwits Acade〽️y (@mikalche) September 1, 2023</p> 
 </blockquote> 
 <p></p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/30/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/30/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/30/fa6133ad6e87ee1c4776d3849180d46b.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/30/fa6133ad6e87ee1c4776d3849180d46b.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Trading Bots List 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/01/f88de9f91a8c6b7926f52e209e8f697e.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/01/f88de9f91a8c6b7926f52e209e8f697e.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/31/e59946958a3ce000f279efb2e1b9c852.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/31/e59946958a3ce000f279efb2e1b9c852.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/30/48cfebc8a0493db9937bed5dd005ee19.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/30/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <h2 id="bankman-fried-s-downfall">Bankman-Fried’s Downfall</h2> 
 <p><span style="font-weight: 400">Six months before the bankruptcy filing in November, Bankman-Fried disclosed a 7.6% stake in Robinhood. However, he emphasized no intention of gaining control over the retail trading platform. Moreover, while the former billionaire was optimistic about Robinhood’s business prospects, the subsequent collapse of </span><span style="font-weight: 400">FTX</span><span style="font-weight: 400"> proved detrimental to his fortunes.</span></p> 
 <p><span style="font-weight: 400">Besides the bankruptcy, Bankman-Fried faces legal battles despite pleading not guilty to allegations of fraud linked to the November 2022 downfall of FTX, a cryptocurrency exchange.</span></p>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p><span style="font-weight: 400">Given the complexities surrounding the seized shares, Robinhood’s Chief Financial Officer, Jason Warnick, mentioned the priority of acquiring these shares “free and clear of any claims.” Additionally, the company plans to work closely with the </span><span style="font-weight: 400">U.S. Department of Justice</span><span style="font-weight: 400"> to navigate this intricate situation.</span></p> 
 <p><span style="font-weight: 400">Moreover, Robinhood’s decision to repurchase shares from Emergent Fidelity Technologies had been disclosed as early as February. This decision, approved by the U.S. District Court for the Southern District of New York, reflects the online brokerage’s proactive stance.</span></p> 
 <h2 id="impact-on-robinhood-s-performance">Impact on Robinhood’s Performance</h2> 
 <p><span style="font-weight: 400">The recent share repurchase announcement has seen </span><span style="font-weight: 400">Robinhood’s stock</span><span style="font-weight: 400"> making gains. However, the company faces challenges as retail investors, once active on Robinhood’s platform, appear hesitant amidst volatile market conditions. Despite these hurdles, Robinhood reported revenue of $380 million for the quarter ending Dec. 31, showcasing resilience.</span></p> 
 <p><span style="font-weight: 400">The deal with the US government marks a significant chapter for Robinhood amidst the broader financial and legal landscape. The coming months will shed more light on how these developments impact the company’s trajectory and the retail trading sphere.</span></p> 
</div>  
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/robinhood-acquires-sbf-s-stake-for-605-7m-tbt61246.html">https://thebittimes.com/robinhood-acquires-sbf-s-stake-for-605-7m-tbt61246.html</a></p>

Robinhood Acquires SBF's Stake for $605.7M

Obsah

TheBitTimes

Ďalšie články zverejnené 1. 9. 2023

IOTA Price Prediction as $10 Million Trading Volume Comes In – Are Whales Buying?

Shopify Stock Surges After Deal with AMZN: SHOP Targeting $71

New Russian Malware Targets Cryptocurrency Wallets and Exchanges!

British MPs Urge UK Government to Abolish AI Exemption

The Top 10 Latest Luxury Accommodations Globally

Bitcoin Spark Introduces Revolutionary “Proof-of-Process” Technology

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!