No Takeover Talks: FTX, Robinhood, and SBF Deny Acquisition Rumors

Recent reports ignited speculation about a potential takeover of Robinhood by FTX, the crypto exchange led by Sam Bankman-Fried (SBF). However, FTX is not planning to buy Robinhood. The CEO of crypto exchange, Sam Bankman-Fried, refuted rumors about any such deal. The swirling rumors, fueled by a Bloomberg report suggesting FTX was exploring acquiring Robinhood, have been firmly debunked.

FTX denied the Bloomberg report, saying there are no active M&A conversations about Robinhood currently taking place. Sam Bankman-Fried recently bought a 7.6 percent stake in Robinhood earlier, sparking initial speculation. However, according to the latest report, SBF clarified that this investment does not signal an intent to acquire the entire company. Crypto exchange FTX is considering the FTX 'Not Looking For M&A' With Robinhood.

Robinhood did not receive any formal takeover proposal yet. While there's no acquisition on the horizon, Crypto exchange FTX is open to partnering with Robinhood Markets, its CEO Sam Bankman-Fried said in a statement shared with TechCrunch.

Despite mass layoffs in the crypto exchange business, the SBF-led firm confirmed earlier this month that it will not be slashing jobs. This financial stability further reinforces the message that FTX is focused on strategic partnerships rather than outright acquisitions. Bankman Sam Bankman-Fried, chief executive at crypto exchange FTX, has debunked the rumors making rounds that the exchange is actively in talks to purchase the popular zero commission trading platform.

In short: The news that Cryptocurrency exchange FTX is reportedly looking into buying trading app Robinhood is inaccurate. FTX CEO Sam clarified that the company is not pursuing an M&A deal with Robinhood. While a partnership remains a possibility, the takeover rumors are unfounded. Bloomberg News reported that the story was incorrect.