Markets
Robinhood (HOOD) to Buy Crypto Exchange Bitstamp Amid Global Expansion
Robinhood Markets Inc. to acquire 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, expected to close in the first half of next year pending regulatory approval, marks Robinhood’s first foray into the institutional sector, according to a report released Thursday. statementBloomberg Terminal. Shares of Robinhood jumped as much as 7.8%, pushing the stock price to the highest since December 2021.