{"id":14137,"date":"2024-06-06T16:02:49","date_gmt":"2024-06-06T13:02:49","guid":{"rendered":"https:\/\/forklog.com\/en\/robinhood-to-acquire-bitstamp-for-200-million-by-mid-2025\/"},"modified":"2024-06-06T16:02:49","modified_gmt":"2024-06-06T13:02:49","slug":"robinhood-to-acquire-bitstamp-for-200-million-by-mid-2025","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/robinhood-to-acquire-bitstamp-for-200-million-by-mid-2025\/","title":{"rendered":"Robinhood to Acquire Bitstamp for $200 Million by Mid-2025"},"content":{"rendered":"<p>The management of online broker Robinhood has agreed to acquire Bitstamp, the oldest European cryptocurrency exchange, for $200 million in cash, according to <a href=\"https:\/\/www.reuters.com\/markets\/deals\/robinhood-bets-big-crypto-with-200-million-deal-bitstamp-2024-06-06\/\">Reuters<\/a>.<\/p>\n<p>The transaction is expected to close in the first half of 2025, pending regulatory approval.<\/p>\n<p>This initiative aims to expand Robinhood&#8217;s presence in the digital asset market.<\/p>\n<p>The acquisition of Bitstamp, founded in 2011 and holding 50 active licenses and registrations worldwide, positions the online broker in direct competition with Binance and Coinbase, the agency noted.<\/p>\n<p>The platform will boost the growth of Robinhood&#8217;s cryptocurrency division, marking its first institutional business. Popular in Europe and Asia, Bitstamp offers more than 85 tradable assets and includes products such as staking and lending.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cWe are in the early stages of our development in the EU, intending to expand beyond. The acquisition will accelerate our global expansion,\u201d<\/em> stated Johann Kerbrat, Vice President and CEO of Robinhood Crypto.<\/p>\n<\/blockquote>\n<p>The acquisition comes at a time when the company&#8217;s cryptocurrency business is experiencing rapid growth but also facing regulatory challenges in the United States. The division&#8217;s head affirmed ongoing dialogue with regulatory bodies.<\/p>\n<p>In May, Robinhood Crypto <a href=\"https:\/\/newsroom.aboutrobinhood.com\/robinhood-response-to-receipt-of-wells-notice-from-the-u-s-securities-and-exchange-commission\/\">received<\/a> a warning from the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> about a potential lawsuit.<\/p>\n<p>The agency sent the online broker a notice in March 2023. In its annual report, the firm disclosed that claims made in December 2022 concerned the listing of digital assets.<\/p>\n<p>Back in July 2021, ahead of the company&#8217;s <span data-descr=\"initial public offering\" class=\"old_tooltip\">IPO<\/span>, co-founder and CEO Vlad Tenev described digital assets as the foundation for the online broker&#8217;s future development.<\/p>\n<p>On January 12, Robinhood <a href=\"https:\/\/forklog.com\/en\/news\/robinhood-expands-to-include-spot-bitcoin-etfs-in-the-us\">opened<\/a> the opportunity for clients in the U.S. to trade spot Bitcoin ETFs.<\/p>\n<p>In April 2024, the firm officially <a href=\"https:\/\/forklog.com\/en\/news\/robinhoods-android-wallet-okxs-exit-from-india-and-other-crypto-industry-developments\">released<\/a> its cryptocurrency wallet for Android users, a year after the iOS version was launched.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The management of online broker Robinhood has agreed to acquire Bitstamp, the oldest European cryptocurrency exchange, for $200 million in cash, according to Reuters. The transaction is expected to close in the first half of 2025, pending regulatory approval. This initiative aims to expand Robinhood&#8217;s presence in the digital asset market. The acquisition of Bitstamp, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[174,83,1166,733,1235,1234],"class_list":["post-14137","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","tag-bitstamp","tag-business","tag-centralized-exchanges-cex","tag-europe","tag-mergers-and-acquisitions","tag-robinhood"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14137"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14137\/revisions"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}