Robinhood Markets Inc. is buying crytocurrency exchange Bitstamp for about $200 million as the company looks to speed up its cryptocurrency expansion globally.
FILE - Electronic screens in New York's Times Square announce the Robinhood IPO, July 29, 2021. Robinhood Markets Inc. is buying crytocurrency exchange Bitstamp, Thursday, June 6, 2024, for about $200 million as the company looks to speed up its cryptocurrency expansion globally. Robinhood Markets Inc. is buying crytocurrency exchange Bitstamp for about $200 million in cash as the company looks to speed up its cryptocurrency expansion globally.
Bitstamp, founded in 2011, has offices in Luxembourg, the UK, Slovenia, Singapore, and the US. It has more than 50 active licenses and registrations worldwide and customers across the European Union, United Kingdom, United States and Asia."Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles.
The company said in a regulatory filing that it received investigative subpoenas from the SEC about issues including cryptocurrency listings, custody of cryptocurrencies, and platform operations.Shares of Robinhood Markets rose more than 2% before the market open. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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