Sam Bankman-Fried borrowed $546M from his hedge fund to buy a Robinhood stake

When Sam Bankman-Fried bought a nearly 7.6% stake in Robinhood, the popular stock-trading app, earlier this year, he financed the deal with more than half a billion dollars borrowed from the his own hedge fund — the entity that prosecutors say was illegally funneling customer funds from its affiliated platform, FTX.

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December 28, 2022 at 11:35PM via IFTTT