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

A vote ending Monday could introduce a new layer of security for Ethereum’s largest liquid staking protocol

article-image

Framework’s Michael Anderson explains what tokens need in order to be successful

article-image

Conferences are pop-up innovation clusters—and filters for the riff-raff

article-image

Tariff front-running may have caused an artificial bounce in economic data earlier this year

article-image

Waka Flocka Flame-linked BaseDrop is raising some eyebrows

article-image

IPO’ing onchain, Ethereum scaling, and using AI for ZK