FTX was reported to be in talks to acquire the trading app.
The stock was briefly halted after a report that FTX was discussing a takeover plan, but no offer has been made.
Robinhood didn't say anything.
According to a filing with the Securities and Exchange Commission, Sam Bankman- Fried, CEO of FTX, took a 7.6% stake in the company. Bankman-Fried believed that the shares were an attractive investment, according to the filing.
Revenue and users have led to a decline in the stock's value. Revenue fell from a year ago to $299 million. The company said its monthly active users decreased from a year ago.
FTX is one of the largest exchanges in the world and offers a variety of products for more sophisticated traders. FTX does not offer its services in the United States.
The companies of Bankman-Fried signed deals to bail out small players. BlockFi will receive a $250 million revolving credit facility. A500 million dollars was committed by his quantitative trading firm.
During the peak of the trading boom, a lot of retail investors invested in Robinhood, while the young broker also experienced success when it launched its trading platform. When stock trading activity slowed down, cryptocurrencies became important for the company.
Last fall, the company said it was testing a wallet and that it had over one million customers.
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