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Robinhood Doubles Down on Crypto with Bitstamp Acquisition

Even amid an SEC onslaught, Robinhood is committing to crypto.
David C David C Jun 6, 20241 min read
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Robinhood Doubles Down on Crypto with Bitstamp Acquisition

Robinhood is set to acquire Bitstamp in a potential $200 million deal designed to better position the crypto and stock trading platform for expansion outside the U.S.

What’s the scoop?

  • Global Expansion: Expected to close in the first half of 2025, this acquisition aims to expand Robinhood’s presence globally, incorporating Bitstamp’s retail and institutional customers in the EU, UK, U.S., and Asia.
  • Veteran Exchange: Founded in 2011, Bitstamp is the oldest crypto exchange with over 50 global licenses. Its reach will enhance Robinhood’s offerings. Bitstamp currently supports over 85 tradable assets, including staking and lending, that can be integrated into Robinhood’s platform.

Bankless Take: 

Robinhood's acquisition of Bitstamp represents a significant move in its crypto division. Doubling down on crypto to this degree, especially while still embroiled in legal hot water with the SEC, signals Robinhood has and anticipates further high demand for crypto — evident in its Q1 revenue.

While this acquisition will increase its retail offerings, it will also allow Robinhood to tap into institutional markets for the first time, signaling an understanding that funds will be a huge growth driver. Overall, Robinhood’s purchase of Bitstamp brings another major American company onto the right side of history, demonstrating their understanding that “crypto will fundamentally reorganize the financial system” worldwide.

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David C

Written by David C

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David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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