The CEO said the brokerage firm may look to make its own acquisition in a down market.
"In one word: No," Tenev said on an investor call when asked about potentially being bought by another firm.
In May, FTX CEO Sam Bankman-Fried revealed a stake in Robinhood, spurring speculation about a potential takeover bid from the crypto-focused brokerage. The Robinhood investor call came a day after the company announced it was laying off 23% of its workforce. Robinhood CEO Vlad Tenev said Wednesday that the retail brokerage is not looking to be acquired despite announcing major layoffs after another quarter of shrinking active users.
"In one word: No," Tenev said on an investor call when asked about potentially being bought by another firm."I think we're in a great position as a stand-alone company. I love us as a stand-alone company."revealed a stake in Robinhood, spurring speculation about a potential takeover bid from the crypto-focused brokerage. Bankman-Fried has since said FTX is not looking to buy Robinhood outright.
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