🧵 1. Cryptocurrency platform Robinhood buys back Sam Bankman-Fried's stake for $606M after US gov't seized the shares. #crypto
🧵 1. Cryptocurrency platform Robinhood buys back Sam Bankman-Fried's stake for $606M after US gov't seized the shares. #crypto
🧵 2. Robinhood purchases over 55M shares previously held by former FTX CEO SBF, completing a $606M deal.
🧵 3. Approval granted by court for Robinhood to buy SBF's stake free of any claims or encumbrances.
🧵 4. Robinhood's purchase of shares from SBF's bankrupt holding company settles legal battle with BlockFi and FTX creditors.
🧵 5. Shares of Robinhood rise 4% on Nasdaq as $606M deal is finalized. The company also holds fifth-largest Ethereum wallet.
🧵 Read more at: https://cointelegraph.com/news/robinhood-bought-sam-bankman-fried-stake-us-marshals