Robinhood Markets Inc. is advancing with its acquisition of Bitstamp Ltd., a prominent global cryptocurrency exchange. In progressing with this endeavor, Robinhood Crypto LLC has formally filed a change of control application with the New York Department of Financial Services (NYDFS), which confirmed receipt of the application on July 3, 2024. This application marks a pivotal regulatory milestone essential for the acquisition, anticipated to conclude by the first half of 2025 pending requisite approvals. Notably, Robinhood disclosed last month an expected final transaction value of approximately $200 million in cash, subject to customary adjustments. This acquisition is set to notably enhance Robinhood’s cryptocurrency services and expand its global presence.
