Sam Bankman-Fried has taken a large position in Robinhood (HOOD), according to an SEC filing.
Shares of HOOD are up 28% in after-hours trading.
This is a developing story and will be updated.
FTX CEO Sam Bankman-Fried buys position in Robinhood for $56 million
The purchase represents a 7.6% stake in the popular commerce app.