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- Bankman’s News- Fried’s 7.6% stake in Robinhood Markets caused the online brokerage’s stock price to rise by as much as 30% earlier this month. The FTX CEO pounced after Robinhood’s stock sank to its lowest level since its post-IPO peak in August.
- According to Yahoo Finance, its stock price has slowly declined from $38 per share on its initial public offering to under $10 today.
- After the crypto exchange revealed intentions to offer its customers a fee-free stock-trading service, he stated, What we finally aim to provide is an everything app for financial services.
FTX has gathered more than $2 billion to spend on acquisitions and investments in other companies, according to cryptocurrency entrepreneur Sam Bankman-Fried. According to Bloomberg, he intends to turn FTX into a platform where customers can trade numerous assets, including stocks.
Stock Price To Rise By As Much As 30%
FTX is a lucrative corporation, according to Bankman-Fried. Take a look at how much money we’ve raised in the last year or two – it’s in the billions of dollars. That provides us a sense of where we are in terms of cash, which was deliberately considered from the perspective of a potential acquisition.
Bankman-Fried and FTX have been on a buying spree recently, acquiring stakes in LedgerX, a Commodity Futures Trading Commission-regulated exchange, as well as IEX Group and Robinhood Markets, two trading platforms. It’s always something we’ll be open to and keep our ears to the ground on, Bankman-Fried said of purchasing and investing in other businesses.
Bankman’s News- Fried’s 7.6% stake in Robinhood Markets caused the online brokerage’s stock price to rise by as much as 30% earlier this month. The FTX CEO pounced after Robinhood’s stock sank to its lowest level since its post-IPO peak in August, partially due to the company’s announcement that it would be laying off hundreds of employees.
Stock Price Has Slowly Declined
According to Yahoo Finance, its stock price has slowly declined from $38 per share on its initial public offering to under $10 today. Bankman-Fried was definitely enticed by the lower price. If it’s inexpensive, absolutely, he told Bloomberg when asked what attracts him to acquisitions.
According to Bloomberg, Bankman-intention Fried’s to develop FTX into a multi-asset trading platform derives from a desire to provide users with all of their financial services in one app.FTX.Brett Harrison, the corporation’s president in the United States, shares a similar goal for the company. After the crypto exchange revealed intentions to offer its customers a fee-free stock-trading service, he stated, What we finally aim to provide is an everything app for financial services.