Crypto: Robinhood to seize Bitstamp for 200 million

Fri June 7, 2024 ▪
min reading ▪ acc
Evans S.

The crypto universe is booming. Retail giant Robinhood has announced the acquisition of Bitstamp, a cryptocurrency exchange, for $200 million. This transaction comes despite pressure from the US SEC. The acquisition marks a significant step for Robinhood as it seeks to expand its influence in the crypto sector.

Crypto Robinhood

Strategic acquisition

Robinhood has taken a bold step by acquiring Bitstamp. Founded in 2011, Bitstamp is one of the oldest and most respected cryptocurrency exchanges.

With over 50 active licenses and registrations worldwide, Bitstamp represents a strategic opportunity for Robinhood. This acquisition provides a solid foundation for the company’s global expansion.

Johann Kerbrat, Robinhood’s general manager of cryptocurrencies, expressed his enthusiasm: “The acquisition of Bitstamp is a significant step in the growth of our cryptocurrency business. »

According to him, Bitstamp has high trust and proven resilience through market cycles. The acquisition will allow Robinhood to combine customer experience and security across geographies.

With Bitstamp, Robinhood is looking to expand beyond the United States and attract institutional clients. This strategic acquisition opens up new prospects for Robinhood and strengthens its position in the global cryptocurrency market.

Challenges and Impacts in the Cryptosphere

However, this acquisition is not without problems. In May, the SEC issued a Wells Notice to Robinhood warning the company of possible legal action. Dan Gallagher, Robinhood’s chief legal officer, responded by claiming that the assets listed on their platform are not securities.

Vlad Tenev, CEO of Robinhood, criticized the SEC for its tendency to regulate through enforcement rather than changing the rules. He said: “The SEC has the option to change the rules to allow brokers to accept crypto-assets, but it doesn’t appear that they have any plans to do so. »

Robinhood’s acquisition of Bitstamp has drawn mixed reactions. Alexander Stachchenko, an influential observer, expressed concern about the impact of this acquisition on the European cryptocurrency ecosystem. Europe risks losing its major players, one by one, to takeovers by American companies, he said.

This acquisition could have significant effects on the cryptocurrency market. By integrating Bitstamp, Robinhood not only strengthens its position in the market, but also its ability to offer diverse and robust services to its users.

Robinhood users could benefit from this acquisition with access to a more robust and secure cryptocurrency trading platform. With its long experience and reputation, Bitstamp brings significant added value to the Robinhood ecosystem.

Robinhood’s future in the cryptocurrency industry looks bright. With this acquisition, the company prepares to address regulatory challenges while continuing its global expansion. The Bitstamp integration could turn Robinhood into a key player in the global cryptocurrency market.

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Evans S avatar

Evans S.

Fascinated by Bitcoin since 2017, Evariste continued to research the topic. If his first interest was trading, now he is actively trying to understand all the developments focused on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the industry as a whole.


The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.

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