FTX chief denies reports of plans to acquire Robinhood, the online broker

FTX CEO Sam Bankman-Fried stated that the company is not in talks to acquire the online broker Robinhood. Reuters reports.

Earlier, Bloomberg reported, citing sources familiar with the matter, that FTX is considering the possibility of acquiring Robinhood.

The publication noted that a final decision has not yet been made and the exchange could back out of the deal.

“There are no active talks on mergers and acquisitions with Robinhood. We are excited about Robinhood’s business prospects and potential avenues for collaboration with them,” Bankman-Fried said.

Earlier in May, Emergent Fidelity Technologies, affiliated with the head of the FTX, acquired 7.6% stake in Robinhood.

Subsequently, Bankman-Fried said the exchange will spend billions of dollars on acquiring stakes in other companies to expand its product lineup.

In June, FTX acquired Canadian-regulated cryptocurrency platform Bitvo. According to media reports, the exchange is in talks with several companies focused on traditional securities, as well as acquiring a stake in the lending platform BlockFi.

Last year, FTX agreed to acquire the Japanese cryptocurrency exchange Liquid and its subsidiaries. In June, it was renamed to FTX Japan, which became a unit serving customers in Japan.

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