Robinhood to buy back Bankman-Fried's stake from US govt for nearly $606m

Robinhood to buy back Bankman-Fried's stake from US govt for nearly $606m

FILE PHOTO: Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, exits the Manhattan federal court in New York City, U.S. February 16, 2023. REUTERS/Eduardo Munoz

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 BankmanFried’s Emergent Fidelity Technologies.