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- Robinhood's board approved a plan to buyback over $575 million worth its shares owned by Sam Bankman-Fried.
- Bankman-Fried's shares in Robinhood have been at the heart of a four-way legal battle between the FTX founder and others.
- "The proposed share purchase underscores the confidence the Board of Directors and management team have in our business" Robinhood said.
Robinhood's board of directors authorized a plan to purchase FTX founder Sam Bankman-Fried's stake worth more than half a billion dollars in the company.