Robinhood Board Authorizes Purchase of Shares Bought by FTX’s Sam Bankman-Fried, Gary Wang

Emergent Fidelity, which was co-founded by FTX founders Bankman-Fried and Wang, bought the shares but promised them as collateral for a loan from crypto lender BlockFi. The lender, which filed for bankruptcy protection last year, has filed to lay claim to the value of the shares.