$HOOD shares are at the centre of a recent lawsuit filed by BlockFi against RobinhoodApp
that FTX planned to fully acquire Robinhood. However, Bankman-Fried denied that such a deal was in the making. After FTX started its rapid downfall, Bankman-Fried reportedly hurried to sell his Robinhood stake. In fact, he was privately negotiating via the Signal messaging app the day before FTX GroupAfter getting hit hard by the Terra-induced crypto crash in May, BlockFi decided to tie its fate to FTX Group by reaching a deal with the exchange’s U.S. subsidiary. FTX.
After FTX itself went into flames earlier this November, BlockFi was forced to abruptly halt withdrawals.
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