Robinhood Expands U.S. Crypto Market Presence Despite SEC Threats

Robinhood is acquiring crypto exchange Bitstamp for $200 million, despite a warning from the U.S. Securities and Exchange Commission (SEC) about its intention to sue the brokerage firm. The deal will allow Robinhood to expand its offerings to institutional clients in the U.S.

Trading platform Robinhood is acquiring crypto exchange Bitstamp for $200 million. According to The Wall Street Journal, the deal will be finalized in H1 2025, following regulatory approval.

The acquisition will enable Robinhood to offer its services to institutional clients in the U.S. Johann Kerbrat, General Manager of Robinhood Crypto, said that the decision to buy Bitstamp was made in response to growing customer demand for cryptocurrency products. He stated that the company aims to meet the needs of users who seek a greater variety of crypto products. Vlad Tenev, Co-Founder and CEO of Robinhood, noted that teaming up with Bitstamp’s global network will strengthen Robinhood’s position in the crypto market and provide its clients access to crypto staking and lending.

Bitstamp is one of the oldest crypto exchanges, founded in 2011. The exchange serves millions of users worldwide and offers a wide range of services, including trading various cryptocurrencies, institutional lending, and staking. Bitstamp holds over 50 active licenses globally and is known for its commitment to regulatory compliance. Despite the pending acquisition, Bitstamp will continue to operate under its independent brand.

The deal comes amid potential legal troubles for Robinhood. In May, the company received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), in which the regulator expressed its intention to sue the company for alleged securities law violations. It’s also worth noting that the SEC’s threats haven’t yet been materialized.

Robinhood Crypto recently announced a number of updates for European users, chief among which was the launch of the Solana staking program.

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