Robinhood, USMS sign share repurchase agreement for Bankman-Fried's stake

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September 1, 202312:28 PM UTCUpdated ago

Sept 1 (Reuters) - Robinhood (HOOD.O) said on Friday it had entered into a share repurchase agreement with the United States Marshal Service(USMS) to buy back stock from Sam Bankman-Fried's Emergent Fidelity Technologies.

The shares of Robinhood were seized and subsequently transferred to the custody of the U.S. government after Bankman-Fried's FTX and Emergent filed for bankruptcy protection last year.

Reporting by Manya Saini in Bengaluru

Our Standards: The Thomson Reuters Trust Principles.

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