author image by Falc | 0 Comments | May 25, 2022

The head of FTX denied information about the absorption plans of the Robinhood Exchange

CEO Cryptocurrency Exchange FTX Sam Bankman-Fried said the company is not negotiating the purchase of the Robinhood online Broker. This writes Reuters.

Earlier, Bloomberg, citing familiar sources, said FTX is studying the possibility of absorption of Robinhood.

At the same time , the publication indicated that the final decision has not yet been made and the exchange may refuse to conclude a transaction.

“No active negotiations on mergers and acquisitions with Robinhood are conducted. We are delighted with Robinhood business prospects and potential ways to cooperate with them, ”Bankman-Fried said.

Recall that in May FTX, Emergent Fidelity Technologies, acquired 7.6% of the share in Robinhood.

Bankman-Fried later said that the exchange would spend billions of dollars buying shares in other companies to expand its product line.

In June, FTX absorbed the Canadian adjustable cryptocurrency platform Bitvo. According to media reports, the exchange is negotiating with several companies focused on classical securities, as well as on the purchase of a share in the Blockfi landing platform.

Last year, FTX agreed to acquire the Japanese cryptocurrency exchange of Liquid and its subsidiaries. In June, she was renamed FTX Japan, which became a division for customer service in Japan.

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