Report Of FTX's Interest In Robinhood Comes 1 Week After This Acquisition

FTX is seeking to acquire Robinhood Markets Inc HOOD, Bloomberg reported Monday. 

The development is just one-week after FTX US announced its acquisition of Embed Clearing, a specialist in white label brokerage experiences.

Why It Matters: The addition of Embed Clearing, as well as the reported interest in buying the app-based brokerage Robinhood, is pursuant to founder Sam Bankman-Fried’s desire to expand into assets outside of crypto.

“If you look longer down the road, we would absolutely like to get involved in other asset classes, and to become a global liquidity venue across the board,” he said in a Benzinga conversation in December.

Though no formal takeover approach was attempted, Bankman-Fried, nearly a month ago, bought a large stake — 7.6% — in the app-based broker.

Posted In: FTXRobinhoodSam Bankman-FriedFintechM&AMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.