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Robinhood is set to acquire the cryptocurrency exchange Bitstamp for $200 million, even as the U.S. Securities and Exchange Commission (SEC) has issued a warning regarding its plans to initiate legal action against the brokerage firm. This acquisition will enable Robinhood to broaden its services for institutional clients within the U.S.
The trading platform Robinhood is in the process of acquiring the crypto exchange Bitstamp for $200 million. As reported by The Wall Street Journal, the transaction is expected to be completed in the first half of 2025, pending regulatory approval.
This acquisition will allow Robinhood to extend its services to institutional clients in the U.S. Johann Kerbrat, General Manager of Robinhood Crypto, indicated that the choice to purchase Bitstamp was driven by increasing customer demand for cryptocurrency offerings. He mentioned that the company intends to cater to users looking for a broader selection of crypto products. Vlad Tenev, Co-Founder and CEO of Robinhood, remarked that collaborating with Bitstamp’s global network will enhance Robinhood’s standing in the crypto sector and grant its clients access to crypto staking and lending options.
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Established in 2011, Bitstamp is recognized as one of the oldest cryptocurrency exchanges. The platform caters to millions of users globally and provides a diverse array of services, including trading various cryptocurrencies, institutional lending, and staking. Bitstamp holds over 50 active licenses worldwide and is noted for its dedication to regulatory compliance. Despite the forthcoming acquisition, Bitstamp will maintain its independent brand identity.
This agreement occurs amidst potential legal challenges for Robinhood. In May, the company received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), in which the regulator indicated its intention to sue the firm for purported violations of securities laws. It is also important to highlight that the SEC’s threats have not yet materialized.
Recently, Robinhood Crypto announced several updates for its European users, with the launch of the Solana staking program being the most significant.
Сообщение Robinhood Expands U.S. Crypto Market Presence Despite SEC Threats появились сначала на CoinsPaid Media.
