Robinhood collapses after Savior’s troubles

Robinhood collapses after Savior’s troubles

Sam Bankman-Fried acquired a 7.6% stake in Robinhood, a brokerage firm that aims to attract millennial investors looking to invest in cryptocurrencies, in May.

But Bankman-Fried, the founder of FTX, a popular cryptocurrency exchange, faced even bigger hurdles that investors were unaware of.

Robin Hood (HOOD) – Get a free report Shares fell on Nov. 8, falling as much as 15.54% to $10.22 a share in midday trade when Binance, the crypto giant, announced it would acquire FTX, which was once its rival due to a “liquidity crisis.” .

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