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Breaking News! Robinhood Set to Acquire a Major Bitcoin Exchange!
Breaking News! Robinhood Set to Acquire a Major Bitcoin Exchange!
Reports from Reuters reveal that Robinhood is gearing up to purchase Bitstamp, the top global cryptocurrency exchange.
Author:
Elif Azra Güven
06.06.2024 – 11:04
Update:
10 hours ago
0
According to Reuters, Robinhood is in the process of acquiring BITSTAMP, a prominent global cryptocurrency exchange.
As per the reports, the US-based trading platform Robinhood has struck a deal to buy the UK-based cryptocurrency exchange Bitstamp for a whopping $200 million in cash.
The announcement mentions that this acquisition is poised to help Robinhood in expanding its reach internationally beyond the US borders and attracting more corporate clients.
It was highlighted in the statement that the entire acquisition deal has been settled in cash with a sum of $200 million and the finalization of the agreement is anticipated to take place in the first half of 2025.
Robinhood Crypto’s general manager, Johann Kerbrat, expressed his views on the acquisition:
“The acquisition of Bitstamp marks a significant milestone in our cryptocurrency business growth. Bitstamp’s reputable and long-standing presence in the global exchange arena has shown resilience across market fluctuations. With this strategic merger, we are better equipped to broaden our global presence and cater to our institutional clientele on Robinhood.”
Bitstamp, headquartered in the UK, was established in 2011 and has evolved into one of the largest cryptocurrency exchanges in Europe.
*This article does not provide investment advice.
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