FTX is eyeing Robinhood for an acquisition, but nothing is set yet.
Monday that FTX is holding internal deliberations about whether to acquire Robinhood. Although no decision has been made to pursue a takeover, FTX is said to be taking the matter seriously. Bloomberg's contact clarified that FTX has yet to approach Robinhood with a buyout proposal and that it could still decide against pursuing a deal.
In a follow-up statement to Bloomberg, FTX CEO Sam Bankman-Fried clarified that his firm is excited about potentially partnering with Robinhood but that there were no active merger conversations, which was in line with earlier reporting: “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.”
This isn't the first time FTX or Bankman-Fried have been tied to Robinhood. In May, it was disclosed that thein the discount brokerage valued at $650 million. At the time, Bankman-Fried said the purchase reflected his belief that Robinhood is an"attractive investment" but that he had no intention of changing or influencing control of the firm.
Of course we think it is an attractive investment too. We have the best customer base, are introducing great new products, and we have the team to deliver.
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