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Sam Bankman-Fried purchased a 7.6% stake in Could in Robinhood, a brokerage meant to draw Millennial buyers who sought to spend money on cryptocurrencies.
However Bankman-Fried, the founding father of FTX, a preferred cryptocurrency change, confronted even bigger hurdles that buyers weren’t conscious of.
Robinhood (HOOD) – Get Free Report shares tumbled on Nov. 8, falling by as a lot as 15.54% in mid-day buying and selling to $10.22 a share as Binance, the crypto behemoth, mentioned it might purchase FTX, which was as soon as its rival on account of a “liquidity crunch.”