Robinhood collapses after Savior’s difficulties

Robinhood collapses after Savior’s difficulties

Sam Bankman-Fried bought a 7.6% stake in May in Robinhood, a brokerage intended to attract Millennial investors looking to invest in cryptocurrencies.

But Bankman-Fried, the founder of FTX, a popular cryptocurrency exchange, faced even bigger hurdles that investors weren’t aware of.

Robin Hood (Hood) – Get a free quote Shares tumbled on Nov. 8, falling as much as 15.54% in midday trading to $10.22 a share, as cryptocurrency behemoth Binance said it would acquire FTX, which was once its rival due to “ welding liquidity’.

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