Sam Bankman Fried, CEO of crypto-exchange FTX has purchased a 7.6% share in RobinhoodAccording to the Securities and Exchange Commission’s Thursday filing.

The company invested in shares that jumped by 36% during extended trading, before eventually pulling back. The shares were at their highest level in over a quarter of a century.

On Thursday, the stock fell to an all time low during regular trading. Robinhood finished the trading session with a price of $8.56. That’s 77% below its IPO cost last July.

The document states that Emergent Fidelity Technologies purchased a $648 million stake in Robinhood. It states that Bankman-Fried is both the majority and sole owner of Robinhood.

Further, the document states that Bankman-Fried purchased the shares believing they were an “attractive investment.” It states that the Reporting Persons intended to keep the shares as investments and have no intention of changing the or influencing control of the issuer. Although he did indicate that he could “from time-to-time engage in discussions with management,” the filing said.

Robinhood’s communication team stated that “Ofcourse we believe it is an attractive investor too.” tweetThursday night, in response to the announcement of the investment.

According to Bankman Fried, although he has no immediate plans to take any other action, in the event of circumstances changing, he might review his options to increase stockholder value, including operational and management strategies, according to the document. He could also acquire more shares.

Bankman-Fried, CEO of FTX is the biggest crypto exchange in the world. It offers spot and derivative trading as well as sophisticated traders products. FTX is now a competitor to Binance and Coinbase, but it does not offer services in the U.S.

Robinhood started by allowing retail investors access to stocks. But it was a huge success once its platform for crypto trading launched in 2018. Since then, crypto trading has been a key part of the business’ bottom line. Robinhood announced its fall plans. testing a crypto walletHe said that the waiting list for this product had exceeded 1 million.