Robinhood now own a cryptocurrency exchange, here is the news in ful🛄:

Robinhood Makes Major Crypto Play with $200 Million Bitstamp Acquisition

Robinhood, the popular stock trading platform, announced its biggest push into the cryptocurrency market yet with the acquisition of Bitstamp, a global crypto exchange, for $200 million.

This deal signifies Robinhood's ambition to compete with major crypto players like Coinbase and Binance.

The acquisition will bring Bitstamp's experience and reach to Robinhood. Bitstamp, founded in 2011, is a well-established crypto exchange with a global presence and over 50 active licenses and registrations.

This will allow Robinhood to offer its users a wider range of cryptocurrencies and services, and expand its user base beyond the United States into Europe, the UK, and Asia.

For Bitstamp, the deal provides a significant opportunity to tap into Robinhood's large user base. By joining forces, both companies aim to become major forces in the growing cryptocurrency market.

The deal is expected to close in the first half of 2025, subject to regulatory approvals.

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