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Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency alternate FTX has acquired a considerable 7.6% stake within the common on-line brokerage, Robinhood. The information was nicely acquired by the market, with Robinhood’s (HOOD) inventory value initially hovering over 30% in after hours buying and selling. At the time of writing the value has settled to a 24% total achieve.According to a securities submitting made with the Securities and Exchange Commission on Thursday, Bankman-Fried bought a complete of $648 million in Robinhood shares at a mean value of $11.52. The purchases disclosed by Bankman-Fried reportedly started in mid-March and continued via till Wednesday.In the securities submitting, Bankman-Fried made it clear that he had, “no intention of taking any action toward changing or influencing the control of [Robinhood],” and that the transfer was just because he noticed Robinhood as an “attractive investment.” Robinhood’s communications crew took to Twitter to emulate what Bankman-Fried mentioned in his securities submitting — tweeting to their 82,000 followers, “Of course we think it is an attractive investment too.”Of course we predict it’s a lovely funding too. We have one of the best buyer base, are introducing nice new merchandise, and we’ve got the crew to ship.— Robinhood Comms (@RobinhoodComms) May 12, 2022 The transaction was executed by an Antiguan agency referred to as Emergent Fidelity Technologies Ltd, of which Bankman-fried is the only director and majority proprietor. The announcement appears to have offered Robinhood traders with some short-term reduction, after its inventory value reached a brand new all time low of $7.73 on March 12, simply sooner or later after the brokerage agency revealed that its crypto transaction income fell 39% year-over-year (YOY).Robinhood has been taking important strides into the cryptocurrency market, as income from stock-related buying and selling has fallen drastically. Robinhood at the moment offers customers with crypto buying and selling capabilities, bringing it into speedy competitors with different US-based cryptocurrency exchanges akin to Coinbase and Gemini. According to Robinhood’s Q1 2022 report, roughly 18% of its Q1 internet income got here from crypto-related transactions, nevertheless transaction-based income from cryptocurrencies decreased 39% YOY to $54 million, in comparison with $88 million within the Q1 2021.Related: Robinhood axes virtually 1 in 10 employees members as inventory hits all-time lowIn April final 12 months, Robinhood introduced plans to develop into cryptocurrency brokerage by buying UK-based crypto firm Ziglu.Earlier this month, Robinhood additionally rolled out its extremely anticipated crypto pockets to 2 million waitlisted customers, outlined plans to combine the Lightning Network, and listed Shiba Inu (SHIB) after months of campaigning from its supporters.

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Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency alternate FTX has acquired a considerable 7.6% stake within the common on-line brokerage, Robinhood. 

The information was nicely acquired by the market, with Robinhood’s (HOOD) inventory value initially hovering over 30% in after hours buying and selling. At the time of writing the value has settled to a 24% total achieve.

According to a securities submitting made with the Securities and Exchange Commission on Thursday, Bankman-Fried bought a complete of $648 million in Robinhood shares at a mean value of $11.52. The purchases disclosed by Bankman-Fried reportedly started in mid-March and continued via till Wednesday.

In the securities submitting, Bankman-Fried made it clear that he had, “no intention of taking any action toward changing or influencing the control of [Robinhood],” and that the transfer was just because he noticed Robinhood as an “attractive investment.”

Robinhood’s communications crew took to Twitter to emulate what Bankman-Fried mentioned in his securities submitting — tweeting to their 82,000 followers, “Of course we think it is an attractive investment too.”

The transaction was executed by an Antiguan agency referred to as Emergent Fidelity Technologies Ltd, of which Bankman-fried is the only director and majority proprietor.

The announcement appears to have offered Robinhood traders with some short-term reduction, after its inventory value reached a brand new all time low of $7.73 on March 12, simply sooner or later after the brokerage agency revealed that its crypto transaction income fell 39% year-over-year (YOY).

Robinhood has been taking important strides into the cryptocurrency market, as income from stock-related buying and selling has fallen drastically. Robinhood at the moment offers customers with crypto buying and selling capabilities, bringing it into speedy competitors with different US-based cryptocurrency exchanges akin to Coinbase and Gemini.

According to Robinhood’s Q1 2022 report, roughly 18% of its Q1 internet income got here from crypto-related transactions, nevertheless transaction-based income from cryptocurrencies decreased 39% YOY to $54 million, in comparison with $88 million within the Q1 2021.

Related: Robinhood axes virtually 1 in 10 employees members as inventory hits all-time low

In April final 12 months, Robinhood introduced plans to develop into cryptocurrency brokerage by buying UK-based crypto firm Ziglu.

Earlier this month, Robinhood additionally rolled out its extremely anticipated crypto pockets to 2 million waitlisted customers, outlined plans to combine the Lightning Network, and listed Shiba Inu (SHIB) after months of campaigning from its supporters.

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Colin Miles, the newly-appointed CEO of TZ APAC expects blockchain and internet 3.0 curricula to begin turning into an integral a part of secondary and tertiary schooling throughout the subsequent three to 5 years. “I would think it’s that classic medium-term, three-to-five timeline,” stated Miles. Miles was chatting with Cointelegraph after the announcement of TZ APAC’s partnership take care of the National University of Singapore (NUS)’s School of Computing on May 10, which can see the Tezos company supporting the event of the college’s new middle for Nurturing Computing Excellence. Miles stated:“If you have a dedicated center in NUS, which runs blockchain courses every day of every week for students… it will become part of the fabric of one of the best computing schools in the world. I would imagine that most other schools would look to that as an example to follow.”NUS at present provides an in-depth blockchain curriculum aimed toward a variety of ranges from inexperienced persons to CEOs and mid-level managers. Other well-known universities providing programs in blockchain embrace Massachusetts Institute of Technology (MIT), Harvard University, Oxford University, Cornell University and University of California Berkeley. Related: Top universities have added crypto to the curriculum“Overall this trend will become a mainstay, because a large number of exciting new jobs will come from the Web3 environment. It is therefore incumbent on educational institutions to help gear their student cohorts up for this important shift,” he stated.TZ APAC is the Asia-based blockchain adoption entity supporting the Tezos (XTZ) ecosystem. Tezos is an open-source proof-of-stake blockchain launched in 2018 as a platform for sensible contracts. As a part of the newly introduced partnership, TZ APAC has been tasked with making a blockchain developer curriculum the place college students will have the ability to participate in lessons, workshops, developer hackathons and different practicals aimed toward educating college students in regards to the Tezos blockchain.TZ APAC can even be supporting the college by the availability of a grant, which Miles stated will go in direction of administrative assist for operating programs for undergraduates, in addition to postgraduates and PhD college students and their ultimate yr initiatives.TZ APAC ​​@NUSComputingWe’re delighted to associate with NUSComputing to arrange the Centre for Nurturing Computing Excellence to construct a powerful #expertise pipeline in fast-growing fields akin to #blockchaintechnology and #cloudcomputing.Read extra at: https://t.co/QX3mWU2QMS— TZ APAC (@TzApac) May 10, 2022 Singapore has been main the way in which by way of institutionalizing crypto schooling, stated Miles, significantly in comparison towards different APAC international locations.“Singapore is starting to inculcate this education into the curriculum in a positive way.”“They’re starting to add these through smaller vocational courses… but you can imagine the next step is to literally burn it into their curriculum so that their undergrads can go through this process without having to do it voluntarily or otherwise.”Led by Associate Professor Tan Sun Teck from NUS Computing, the brand new Center will give college students an avenue to study immediately from consultants within the discipline of blockchain know-how, cloud computing and knowledge science. “By partnering with pioneering organizations such as TZ APAC, students will have the opportunity to benefit from real-world expertise at a critical juncture of their education,” stated Professor Tan. Miles stated that partnering with universities, academies and faculties across the area are one of many key strategies utilized by TZ APAC to drive adoption of the Tezos blockchain. “We now have a very strong proposition for educational institutions in the region. In partnership with [them], we can reach tens of thousands, if not hundreds of thousands of students, to not only help them understand the blockchain economy, but also Tezos blockchains’ role in that as well.”

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