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Robinhood Moves Forward With Acquisition of Bitstamp

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Robinhood Markets Inc. is shifting ahead with its acquisition of Bitstamp Ltd., a worldwide cryptocurrency alternate. As a part of this course of, Robinhood Crypto LLC has submitted a change of management software to the New York Division of Monetary Providers (NYDFS), which introduced it obtained the applying on July 3, 2024. That is certainly one of a number of regulatory steps required for the acquisition, which is predicted to shut within the first half of 2025, pending approvals. Robinhood mentioned final month that it anticipates the ultimate deal worth to be round $200 million in money, topic to customary buy worth changes. This acquisition is poised to considerably enhance Robinhood’s cryptocurrency choices and broaden its worldwide footprint.

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