Robinhood Doubles Down on Crypto With Deal for Bitstamp – WSJ

Robinhood is wading deeper into crypto with a $200 million deal for Bitstamp, despite the Securities and Exchange Commission’s warning that it plans to sue the brokerage over its digital-assets business.

The deal for the crypto exchange comes a month after Robinhood disclosed that it received a so-called Wells notice that the regulator is preparing to sue the company over alleged violations of securities laws.

The acquisition would allow Robinhood to serve institutional crypto clients and expand its crypto offerings internationally, the company said. Bitstamp holds more than 50 licenses and registrations globally.

Source: Robinhood Doubles Down on Crypto With Deal for Bitstamp – WSJ