Robinhood CEO Shuts Down FTX M&A Chatter, Says He Has Money to Do His Own Deals

Aug 04,2022
KingData News: FTX's billionaire founder Sam Bankman-Fried took a 7.6% stake in Robinhood in May. Bloomberg reported in June that FTX was exploring whether it could purchase the company, bolstering FTX's nascent efforts to offer stock trading to customers. Vlad Tenev, the CEO of Robinhood, was asked Wednesday on an earnings conference call whether that might come to fruition. “I love us as a standalone company,” he said. Tenev noted that Robinhood has about $6 billion of cash that could be used for acquisitions and that the company sees opportunities in the current environment to make acquisitions.
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