Citi Downgrades Robinhood, Says FTX Fallout Will Weigh on Crypto Trading Revenue

Robinhood CEO Shuts Down FTX M&A Chatter, Says He Has Money to Do His Own Deals

The collapse of FTX and the resulting fallout has a number of potential implications for Robinhood, the report said. These include the potential liquidation of 56.3 million shares owned by FTX founder Sam Bankman-Fried, the removal of FTX as a potential acquirer, and lower crypto trading revenue due to the “substantial price declines and material deterioration in investor  confidence.

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