One of the biggest names in the crypto space is bullish on the future of Robinhood Markets. That makes sense. But others may think twice before settling in Sherwood.
It was revealed on Thursday that Sam Bankman-Fried, the 30-year-old billionaire, founder of crypto exchange FTX, bought 7.6% stake in Robinhood sent the online brokerage’s shares soaring, up nearly 25% so far on Friday. To be sure, the stock is still down about 40% this year and almost 90% from its peak.