Users can also trade stocks and cryptocurrency on Robinhood, the Block-owned Cash App, and Public.com; adding FTX to the mix will allow it to compete directly with each site. FTX founder Sam Bankman-Fried stated earlier this month that he had purchased a 7.6 percent interest in Robinhood, making him the company’s third-largest shareholder. Bankman-Fried stated in his 13D filing that he had no plans to acquire the company at this time, but as the report points out, this type of form is often filed by an investor wanting to purchase more shares of a company or conduct a takeover.
