You are currently viewing Robinhood Spikes 25% After Crypto Billionaire, FTX Owner Buys Stake

Robinhood Spikes 25% After Crypto Billionaire, FTX Owner Buys Stake

On an ugly days for crypto, it is perhaps ironic that HOOD shares are soaring after hours following a 13-D Filing that shows billionaire Sam Bankman-Fried – CEO/founder of crypto-exchange FTX – has taken a 7.6% stake in the online brokerage app.

Emergent Fidelity Technologies Ltd, a company whose sole owner is Bankman-Fried reported owning 56 million share in Robinhood

This will make Bankman-Fried the 3rd largest holder of HOOD (behind IA Capital Advisors 9.72% and Galileo PTC Ltd 7.81%) and ahead of Cathie Wood’s ARK with 4.08%.

This headline prompted a 25% surge in shares of HOOD – which was languishing at record lows…

With HOOD in play, we can’t help but wonder when will the private equity titans with $3.5 trillion in

..... (Read more by following the post link below)

This post was originally published on this site