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Sam Bankman-Fried purchased a 7.6% stake in Could in Robinhood, a brokerage meant to draw Millennial traders who sought to put money into cryptocurrencies.
However Bankman-Fried, the founding father of FTX, a preferred cryptocurrency trade, confronted even bigger hurdles that traders weren’t conscious of.
Robinhood (HOOD) – Get Free Report shares tumbled on Nov. 8, falling by as a lot as 15.54% in mid-day buying and selling to $10.22 a share as Binance, the crypto behemoth, mentioned it will purchase FTX, which was as soon as its rival resulting from a “liquidity crunch.”
