Crypto exchange FTX considers acquiring Robinhood

Crypto derivatives exchange FTX is reportedly considering acquiring 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. According to Bloomberg's informant, FTX has not yet approached Robinhood with a buyout bid and may still decide not to proceed with a purchase.

In a follow-up comment to Bloomberg, FTX CEO Sam Bankman-Fried explained that while there were no ongoing merger discussions, his company was enthusiastic about the prospect of working with Robinhood,

“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.”

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.

At the time, Bankman-Fried claimed that although the purchase demonstrated his opinion that Robinhood is a "interesting investment," he had no plans to alter or exert control over the company.

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