The FTX is also denoted as the famous currency exchange, and it is also denoted as the leading platform for currency exchanges. The FTX which has become a famous crypto exchange has denied the report that was published in a recent era that they are now going to buy Robinhood, which is denoted as the financial brokerage platform. The spokesperson of the FTX has confirmed the news that they are not thinking about buying the platform. Also, they have cleared that none of the M&A conversations has taken place between the two companies.
Blomberg has also reported that the Sam Bankman-Fried, who is also known as the founder as well as the CEO of the FTX, have also been involved in the conversation where they have taken decisions to buy the commission-free trading platform and, as of now, the share price of the Robinhood has enhanced by 15%, the FTX can show their interest towards the trading of the FTX that is also a very important factor for several people to get the proper assistance.
Hopefully, there was fake news for the trading between the two companies, and they can also take assistance from the end of both platforms. As in last year, the accusation report has said that the stock price has decreased by $9 in the last hour of trading status.
But, the collaboration of both of the companies is not a new thing, as the Bankman-Fried has previously bought the stake value of robin hood, which is also denoted as almost 7.6% that, is a vast stack exchange process that was taken place and according to the SEC filing of the may month, the workability of the trading application has boots by almost 30%.
As a result, if now the new trading process can take place, it is going to be a big trend for the company. In order to get an overall market share to enhance, many other companies can show their interest in the company, but, as of now, it is confirmed that FTX is not going to buy one of the most effective support as the claim has reported that there are some certain points that should be kept in mind properly so that the trade can take place between the companies. So, this is good news for Robinhood lovers that three favorite companies will remain intact as of now.