Robinhood continues to be bullish on crypto regardless of the SEC warning the corporate it plans to sue over this a part of its enterprise.
We discovered yesterday that Robinhood will purchase crypto trade Bitstamp for $200 million, making this its largest acquisition thus far.
The acquisition comes only a month after Robinhood acquired a Wells discover from the SEC over its crypto enterprise. Clearly, this motion has not impacted the corporate’s enthusiasm for the crypto facet of its enterprise.
Crypto income surged within the first quarter to $126 million from $38 million a yr earlier.
Bitstamp was based in 2011 and holds 50 energetic licenses globally, so the acquisition will enable Robinhood to develop its crypto choices to many alternative international locations.
The deal is anticipated to shut within the first half of 2025.
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