Robinhood Shares Jump After Company Buys Back Bankman-Fried’s Seized Shares
Headline from Forbes
Robinhood’s shares, which had been slumping in recent weeks, shot up after it announced it bought more than $605 million in shares that had previously been controlled by Sam Bankman-Fried.
Forbes's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
Robinhood’s shares, which had been slumping in recent weeks, shot up after it announced it bought more than $605 million in shares that had previously been controlled by Sam Bankman-Fried.
The shares of Robinhood were seized and subsequently transferred to the custody of the U.S. government after Bankman-Fried's FTX and Emergent filed for bankruptcy protection last year.
Robinhood Markets has repurchased $605 million worth of shares that previously belonged to Sam Bankman-Fried, the disgraced crypto mogul, capping a contentious ownership dispute.
Brokerage Robinhood struck a share repurchase agreement with the U.S. Government and bought back $606 million in stock previously owned by the founder of the failed FTX exchange.
Robinhood said on Friday it had entered into a share repurchase agreement with the United States Marshal Service (USMS) for $605.7 million to buy back stock from Sam Bankman-Fried's Emergent
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Robinhood Shares Jump After Company Buys Back Bankman-Fried’s Seized Shares | Since Then
