Robinhood board approves plan to buy back Sam Bankman-Fried's $578 million stake
Publishing timestamp: 2023-02-08 16:45:51
Summary
Robinhood's board has approved a plan to purchase Sam Bankman-Fried's shares in the company, which amount to more than 7% stake. Robinhood is working with the Department of Justice to facilitate the buy-back, but cannot guarantee when or if it will happen. The shares are also at the heart of a contentious court battle between FTX, Bankman-Fried, BlockFi, and a set of international entities.
Sentiment: NEUTRAL
Tickers: HOOD,
Keywords: energy, bitcoin, technology, fintech, business news, robinhood markets inc, cryptocurrency,