Regulation
Robinhood (HOOD) to Buy Bitstamp for Globally Expanding Cryptocurrency Exchange
Robinhood Markets Inc. will acquire the European cryptocurrency exchange Bitstamp Ltd. for $200 million as part of the financial technology company’s expansion outside its home market in the United States.
The deal, which is expected to close in the first half of next year pending regulatory approval, is Robinhood’s first foray into the institutional business, according to a report on Thursday. statementBloomberg Terminal. Robinhood shares jumped as much as 7.8%, pushing the stock price to its highest since December 2021.