According to a reporter Bloomberg reports that FTX is considering acquiring Robinhood, according to the report that FTX is considering the plan internally and that no final decision has been made. Also, Robinhood was not approached by FTX with an offer.
Since Bloomberg's initial report, an FTX spokesperson has acknowledged potential partnerships with Robinhood but has denied a purchase. That rep told Blockworks that “there are no active M&A talks with Robinhood.” The fact that FTX launched stock trading earlier this year also makes the company's relationship with Robinhood valuable – whether as a partner or acquisition target.
Today's news appears to have boosted Robinhood's share value (HOOD) to $9,12, up 14% over the last 24 hours. This growth may be partly due to unrelated comments from Goldman Sachs analyst William Nance.
Meanwhile, FTX remains in a strong position even as many companies are facing a “crypto winter”.
