Robinhood purchased again Sam Bankman-Fried’s stake from US gov’t for $606M

Cryptocurrency and inventory buying and selling platform Robinhood (NASDAQ:) has introduced the acquisition of greater than 55 million shares of the agency beforehand held by former FTX CEO Sam Bankman-Fried, also called SBF.

In accordance with an Aug. 31 weblog put up, Robinhood accomplished a purchase order of 55,273,469 shares for roughly $606 million following a submitting with the US Securities and Change Fee. The shares, initially held by Bankman-Fried and FTX co-founder Gary Wang by Emergent Constancy Applied sciences, had been seized in January by the U.S. Division of Justice.

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