ftx is reportedly considering an acquisition of the trading platform Robinhood. Sources close to the situation told Bloomberg that ftx is still weighing the possibility and has n’t yet made an offer.

The Verge reached out to ftx with a request for comment but did n’t immediately hear back. Robinhood declined to comment on the story.

In May, bankman-fried disclosed his 7.6 percent stake in Robinhood, which was worth about $ 648 million at the time. Robinhood CEO Vlad Tenev and CCO Baiju Bhatt both own about 8 percent of the company. Robinhood SHARES climbed 12 percent following news about the potential acquisition.

Bankman-fried and his ftx exchange have been pivotal in providing bailouts to struggling blockchain companies. ftx extended $ 250 million in revolving credit to crypto trading platform blockfi. bankman-fried’s Alameda research has also lent $ 500 million to crypto brokerage Voyager digital.

Robinhood’s monthly active users dipped 10 percent to 15.9 million in March 2022. Its revenue also fell 48 percent year over year, from $ 522 million to $ 299 million.

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