FTX CEO Sam Bankman-Fried Takes 7.6% Stake in Robinhood

The CEO of crypto exchange FTX, Sam Bankman-Fried, has recently taken a sizable position in Robinhood (HOOD).

According to a Securities and Exchange Commission filing, ‘SBF’ has bought 56 million shares of the popular trading app on May 2. The purchase was made through an Antiguan firm called Emergent Fidelity Technologies Ltd.

The position represents a 7.6% stake in the platform and is worth almost $600 million at time of writing.

Commenting on the purchase, entrepreneur and investor Anthony Pompliano, founder of Morgan Creek Capital Management, was in awe noting that the offensive playbook of the head of the exchange is one of the best out there.

Wow.@SBF_FTX has taken a 7.6% stake in Robinhood.

Sam and FTX play offense better than almost anyone else in the tech industry.

— Pomp (@APompliano) May 12, 2022