Trading app company Robinhood announced Thursday it has agreed to acquire crypto exchange #Bitstamp for approximately $200 million. The deal is expected to close in the first half of 2025.
#Robinhood, which offers consumers a commission-free trading platform, has recently doubled down on crypto as its #crypto trading business. But last month, the company received a Wells notice from the #SEC that indicated an upcoming enforcement action from the regulator over some of the tokens issued on Robinhood’s trading platform.
Based in #Luxembourg City, Bitstamp has roughly 4 million customers and claims to be the world’s longest running #cryptocurrency exchange. The market reacted positively to the acquisition, with Robinhood’s stock jumping roughly 6.5% to $22.97 per share.
