Robinhood to buy back Bankman-Fried's stake for $605.7 milli

Robinhood to buy back Bankman-Fried's stake for $605.7 million from US govt

(Reuters) -Robinhood said on Friday it had entered into a share repurchase agreement with the United States Marshal Service (USMS) for $605.7 million to buy back stock from Sam Bankman-Fried's Emergent Fidelity Technologies. The shares of Robinhood were seized and subsequently transferred to the custody of the U.S. government after Bankman-Fried's FTX and Emergent filed for bankruptcy protection last year. The online brokerage said the sale of the 55.3 million shares at $10.96 apiece had been approved by the U.S. District Court for the Southern District of New York.

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