Robinhood Its CEO, Vlad Tenev, recently stated that the company’s position in crypto exchange competition, FTX stock market and Sam Bankman-Fried’s stake in Robinhood.
Vlad Tenev has revealed that Robinhood’s share of the crypto exchange market has increased after FTX’s bankruptcy. Tenev boasts that they continued to trade uninterrupted during the crypto market panic during the bankruptcy process.
In a speech at a conference, the CEO of Robinhood claimed that the fact that the failed FTX CEO Sam Bankman-Fried owns 7.6% of Robinhood shares will not have a negative impact on the company.
“The truth is that our stock market has gone public. Therefore, anyone who wants Robinhood stock can buy it. The fact that SBF owns part of the company does not indicate a partnership.”
Tenev interpreted the collapse of the FTX stock market from the full side. According to the CEO, events like this help weed out the rotten apples in the industry.
“These events are just about getting weak companies out of the market that don’t manage risk and manage their investments. Bankruptcies will put the crypto industry on a more solid foundation in the future.”
FTX shocked the crypto industry by filing for bankruptcy protection on Nov. Another company that later turned out to be bankrupt BlockFi while of Genesis It is said that he is in a difficult situation.
In this process, while cryptocurrencies suffered a great loss, Vlad Tenev mentioned that the market value is temporary. According to Tenev, cryptocurrencies will continue to exist no matter what.
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