Robinhood Expands into Crypto with $200 Million Bitstamp Acquisition Amid SEC Scrutiny

Robinhood, a stock trading app, is set to expand its footprint in the cryptocurrency industry by acquiring the Bitstamp cryptocurrency exchange in a $200 million deal. This acquisition will allow Robinhood to cater to institutional clients in the United States. The transaction is awaiting regulatory approval and is anticipated to close in the first half of 2025. Johann Kerbrat, the general manager of Robinhood Crypto, cited increasing customer demand for cryptocurrency products as the driving force behind the acquisition. Speaking to The Wall Street Journal on June 6, he noted, “Everything we’ve been doing in the past few years has