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 realized yesterday that Robinhood will purchase crypto trade Bitstamp for $200 million, making this its largest acquisition so far.
The acquisition comes only a month after Robinhood obtained 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 12 months earlier.
Bitstamp was based in 2011 and holds 50 energetic licenses globally, so the acquisition will permit Robinhood to broaden its crypto choices to many various international locations.
The deal is anticipated to shut within the first half of 2025.
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