Robinhood Share- FTX Purchased 7.6% Stake

FTX CEO purchased a 7.6% stake in the Robinhood market. On the back of this news, Robinhood shares rose 28%.

The crypto entrepreneur acquired 56.28 million shares of Robinhood for $648.29 million.

Robinhood Share- 56.28 Million

Robinhood Share- US SEC Filings

Transaction took place through Emergent Fidelity Technologies, a company affiliated with Bankman-Fried, as per U.S. SEC filing.

Acquisition happened just after corporate crypto exchange Coinbase denied rumors of a possible merger with Robinhood.

Robinhood Share- Coinbase Denied Merger

Robinhood Share- Startup Use

Robinhood is an online brokerage start-up that allows its users to trade on the market without commissions.

Quick remote registration and absence of fees and commissions led to the fact that unqualified investors rushed to the market. 

Robinhood Share- Investors Attraction

Robinhood Share- Popularity Emerged

Robinhood's popularity emerged during the quarantine that kept people locked up at home.

1st four months of this year, the app gained more than three million new customers, and there are now more than 13 million total.

Robinhood Share- Total Customers

Robinhood Share- Swipe Up For More!!!

Swipe up for More WebStories related to Tchnology, Gadgets, Finance, & Other Trending News  around the Globe.