FTX Cuts Down Claims That It Plans To Acquire Robinhood

Robinhood’s stock surged by 15% after Bloomberg reported that FTX was looking to acquire the popular trading app

share

key takeaways

  • Bloomberg reported digital assets exchange FTX is planning to purchase the TradFi-focused brokerage
  • Bankman-Fried previously purchased a 7.6% stake in the popular trading app

Crypto exchange FTX on Monday batted down a report that the company is angling to buy traditional finance brokerage Robinhood.

A spokesperson for the company told Blockworks “there are no active M&A conversations” with the retail-focused brokerage that predominantly trades equities and options — in addition to a relatively smaller crypto business. 

Bloomberg, citing anonymous sources, reported Sam Bankman-Fried — who has been on an acquisition spree throughout crypto’s turbulent time — was involved in the conversations to snap up the commission-free investing platform

Bloomberg reported that no formal takeover offer had been received and that FTX — or Robinhood — could choose to opt out of pursuing the deal.

“We are excited about Robinhood’s business prospects and potential ways we could partner with them, and I have always been impressed by the business that Vlad and his team have built,” the spokesperson said in a statement. “That being said there are no active M&A conversations with Robinhood.”

Robinhood stock surged by almost 15% soon after Bloomberg reported on FTX’s takeover but has since seen a price drop to below $9 in after-hours trading.

Bankman-Fried previously purchased a 7.6% stake in the popular trading app, according to a May SEC filing, leading Robinhood shares to soar by some 30%.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

Publicly-traded, liquid securities are “low-hanging fruit” for tokenization before moving to private markets, executive says

article-image

The next step in Blockworks’ evolution into a data powerhouse increases customizability and autonomy over their high quality charts and data

by Westie /
article-image

Sponsored

With early interest from an initial cohort of brands including Metaplex, Story Protocol, and Pipe Network, Shelby offers decentralized, cloud-speed storage for streaming, AI, and real-time content

article-image

The $135 million raise shows that TradFi giants are serious about crypto adoption

article-image

The banking system still processes payments like it’s 1975. Crypto might have a fix.

article-image

Fiserv’s launch follows Senate passage of the GENIUS Act for stablecoin regulation.