Robinhood, a cryptocurrency and stock trading platform, has completed the purchase of 55,273,469 shares from former FTX CEO Sam Bankman-Fried and FTX co-founder Gary Wang. The shares, originally held by Emergent Fidelity Technologies, were seized by the U.S. Department of Justice in January. The purchase, which cost Robinhood roughly $606 million, was approved by the U.S. District Court for the Southern District of New York and was announced in the company’s Q4 2022 report. Robinhood’s chief financial officer, Jason Warnick, said, “We are happy to have completed the purchase of these shares and look forward to executing on our growth plans on behalf of our customers and shareholders.” This story is still developing and more information will be available in the future.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People	U.S. Department of Justice, U.S. District Court for the Southern District of New York, Gary Wang, Sam Bankman-Fried, Jason Warnick
Companies	U.S. Department of Justice, FTX, United States Securities and Exchange Commission (SEC), Emergent Fidelity Technologies, Robinhood
Currencies	None
Securities	None