ICYMI: SBF takes a 7.6% stake in Robinhood
A 13D filling revealed that SBF took a 7.6% stake in Robinhood through a company called Emergent Technology Ltd.revealed that Sam Bankman-Fried had taken a 7.6% stake.
SBF purchased the shares through a company called Emergent Fidelity Technologies Ltd., which Bankman-Fried is the sole owner of. The stake, based on after-hours trading at the time of writing, stood at around $560 million. Based on the closing price of $HOOD, the stake was worth slightly over $479 million.
"We’re doubling down on creating a multi-generational company where customers can build wealth for their generations," Robinhood said in the first of three tweets."Of course we think it is an attractive investment too. We have the best customer base, are introducing great new products, and we have the team to deliver. Our journey is just beginning."