• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Tuesday, August 16, 2022
CryptoMakers
ADVERTISEMENT
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Altcoin
  • Blockchain
  • Business
  • Regulation
  • Trading
No Result
View All Result
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Altcoin
  • Blockchain
  • Business
  • Regulation
  • Trading
No Result
View All Result
CryptoMakers
No Result
View All Result

FTX debunks rumors of M&A conversations with Robinhood

June 28, 2022
in Trading
Reading Time: 2min read
A A
0
FTX debunks rumors of M&A conversations with Robinhood
0
SHARES
2
VIEWS
ShareShareShareShareShare

Crypto exchange FTX denied media speculation that it is looking to acquire Robinhood, Reuters reported.

The statement was made after a June 27 Bloomberg News report claimed the U.S.-based company was in discussions with Robinhood but had yet to make an offer.

M&A rumors

FTX CEO Bankman-Friend, in a statement issued to TechCrunch, said the company isn’t in the process of acquiring Robinhood. He stated:

“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.”

Considering that the Bankman-Friend has a 7.6% stake in Robinhood, it is no surprise that the speculations were made.

Robinhood has struggled to maintain a decent form since it peaked in popularity in 2021 courtesy of the meme stock wave.

The trading firm has however seen its revenue fall 48% year over year, from $522 million to $299 million. Likewise, its active users dropped from 17.7 million in 2021 to 15.9 million in March 2022.

However, Robinhood’s shares experienced a 14% surge as the report gained ground before falling nearly 3% in after-hours trading. As of the time of press, the shares are currently trading at $9.

FTX bailing out distressed crypto firms

The extreme crypto market downturn has left several crypto institutions on the brink of collapse. Several companies have announced layoffs and downsized operations amidst rising fears of insolvency or liquidation.

However, FTX has been providing pivotal bailouts to struggling blockchain companies.

On June 21, it was reported that FT had entered talks with BlockFi for the extension of a $250 million credit facility. The distressed crypto lending platform had earlier downsized its workforce to survive the crypto winter.

Likewise, FTX’s CEO Bankman-Friend, through another company of his Alameda ventures, also lent $200 million and 15k Bitcoin to crypto brokerage voyager Digital.

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Credit: Source link

ShareSendTweetPinShare
Previous Post

Crypto miners putting more pressure on Bitcoin price

Next Post

Is Zero-Knowledge Proof the next big thing in crypto?

Related Posts

Bitcoin Stock-to-Flow model creator PlanB promotes ‘quant investing’ via ByBit to ‘100x’ HODL strategy
Trading

Bitcoin Stock-to-Flow model creator PlanB promotes ‘quant investing’ via ByBit to ‘100x’ HODL strategy

August 8, 2022
Ethereum breaks $1.8K first time since June crash – up 104% from local market bottom
Trading

Ethereum breaks $1.8K first time since June crash – up 104% from local market bottom

August 8, 2022
Poloniex launches new trading system focused on speed, stability and usability
Trading

Poloniex launches new trading system focused on speed, stability and usability

August 1, 2022
How short-term Bitcoin holders invest differently to long-term holders according to on-chain data
Trading

How short-term Bitcoin holders invest differently to long-term holders according to on-chain data

July 30, 2022
Crypto shines in spite of dire macro conditions
Trading

Crypto shines in spite of dire macro conditions

July 28, 2022
Next Post
Is Zero-Knowledge Proof the next big thing in crypto?

Is Zero-Knowledge Proof the next big thing in crypto?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

Weekly Updates

South Korea Arrests Three in Multi-Billion Dollar Crypto-Linked Probe: Report

South Korea Arrests Three in Multi-Billion Dollar Crypto-Linked Probe: Report

August 11, 2022
Is the future of web3 cross-chain interoperability? Jason Ma from Alexlar answers

Is the future of web3 cross-chain interoperability? Jason Ma from Alexlar answers

August 16, 2022
Germany-based Nuri files for insolvency, CoinFlex kicks off restructuring process

Germany-based Nuri files for insolvency, CoinFlex kicks off restructuring process

August 10, 2022
Usuario cripto anónimo molesta a celebridades enviando ETH desde Tornado Cash

Usuario cripto anónimo molesta a celebridades enviando ETH desde Tornado Cash

August 9, 2022
Leading European Tire Retreader Vaculug to Accept Crypto Payments – Bitcoin News

Leading European Tire Retreader Vaculug to Accept Crypto Payments – Bitcoin News

August 15, 2022
Philippines’ Unionbank to Support Cryptocurrency Exchange via Mobile App – Finance Bitcoin News

Philippines’ Unionbank to Support Cryptocurrency Exchange via Mobile App – Finance Bitcoin News

August 13, 2022
CryptoMakers

This is an online news portal that aims to provide the latest crypto news and real-time updates around the world. Feel free to get in touch with us!

What’s New Here!

  • ‘Durmientes’ Aims to Be One of the First Films Funded Fully With NFT Sales in Latam – News Bitcoin News
  • DeFi Firms Iron Bank, Yearn Finance Join Layer 2 Protocol Optimism
  • Acala Stablecoins Near $1 Peg After Community Burns 1.2B aUSD Minted by Exploiters

Subscribe Now

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 cryptomakers.co.uk - All rights reserved!

No Result
View All Result
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Altcoin
  • Blockchain
  • Business
  • Regulation
  • Trading

© 2021 cryptomakers.co.uk - All rights reserved!

  • EvedoEvedo(EVED)$0.082301-0.80%
  • SEENSEEN(SEEN)$2.05-2.27%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • CornichonCornichon(CORN)$0.073096-0.86%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • StacyStacy(STACY)$0.0007100.00%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • lympoLympo(LYM)$0.004392-4.43%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%