Robinhood Q4 crypto revenue of $39 million, will repurchase 55 million shares held by SBF and others

ChainCatcher news, the stock and cryptocurrency trading platform Robinhood reported a cryptocurrency trading revenue of $39 million for the fourth quarter of 2022, a 24% decrease from $51 million in the third quarter. Robinhood also stated that its board has authorized the purchase of all or a majority of the 55 million shares of Robinhood stock acquired in May 2022 by the holding companies of former FTX founder SBF and executive Gary Wang. Last month, the U.S. Department of Justice seized these shares of Robinhood, which were valued at nearly $500 million at the time. (source link)