FTX’s Sam Bankman-Fried takes a 7.6% stake in Robinhood


Quick Take

  • A 13D filling revealed that SBF took a 7.6% stake in Robinhood (HOOD) through a company called Emergent Technology Ltd.
  • Robinhood stock was up as much as 28% in after-hours trading on the news

Shares in Robinhood Markets (HOOD) rose as much as 28% in after-hours trading as a 13D filing revealed that Sam Bankman-Fried (SBF) had taken a 7.6% stake.

Sam Bankman-Fried, founder and CEO of the cryptocurrency exchange FTX, purchased 56 million shares of HOOD. This gave him a 7.6% stake in the retail trading platform, according to the 13D filing. 

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SBF purchased the shares through a company called Emergent Fidelity Technologies Ltd., which Bankman-Fried is the sole owner of. The stake was worth roughly $560 million at the time of publication. 

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HOOD’s stock was up 28% in after-hours trading after closing at $8.56 earlier in the day, according to NASDAQ data via TradingView.


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