Robinhood shares surge to record high following completion of Bitstamp acquisition
Robinhood shares, the application of financial services that provide both shares and encryption, rose to the highest level at all times on Wednesday after completing the acquisition of the company for the company for Crypto Exchange Bitstamp earlier this week.
RobinHood’s shares jumped by 13 % this week, as it rose from $ 66.05 on Monday morning to the highest level in the pre -market trading on Wednesday. However, the shares of the company decreased by 4 % after the opening of the market on Wednesday, and hoping about $ 72.
This rise followed a declaration from Robinhood on Monday that the company has completed its acquisition of the $ 200 million bitstamp, a global exchange of encryption. The All-Lush deal was announced for the first time last June.
BitStamp holds 50 licenses and encryption records – regulations issued by a government that allows the company to work legally within the financing and encryption spaces – through the United States, Europe, the United Kingdom and Asia. With the widespread regulatory compliance of the Bitstamp, Robinhood hopes to expand the international digital assets market.
Accepted also Robinhood helps expand its customer base To include institutional customers, such as banks or hedge boxes, which constitute the majority of the Bitstamp exchange volume. Bitstamp 500,000 retail investors and about 5,000 institutional investors, according to a statement issued by Robinhood.
“Through this strategic mix, we are in a better position to expand our silence outside the United States and welcome institutional customers in Robinhood,” said Johan Cyrbrat, general manager of Robinhood Crypto, in a statement, when the deal was announced in the beginning.
The encryption trading on the Robinhood, which was presented in 2018, has grown to lead a large part of the company’s revenues. In the fourth quarter of 2024, Robinhood achieved a $ 1 billion record record, supported by 500 % in revenue from encryption transactions between October and December. In the last quarter, although a slight decrease in platform encryption trading, revenues from transactions related to encryption amounted to 27 % of the total Robinhood revenues.
However, the CEO of Robinhood Vlad Tenev noted in a recent profit invitation that the company is looking for ways to diversify its revenue flows away from Crypto to protect its profits from the fluctuations associated with the asset category.
“It will rise and fall in terms of trading sizes,” said Teenv. “We diversify the works outside the encryption, which will make us less dependent on the sizes of encryption transactions.”
The closure of the Bitstamp deal comes at a time when the encryption market is recovered from a historical sale this year, motivated by President Donald Trump’s policy at all. The entire encryption market has managed to restore the costs of some of its previous gains during the past few weeks, as it has prepared 36 % of the maximum market since it reached the lowest annual level of $ 2.42 trillion in April.
This story was originally shown on Fortune.com
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2025-06-04 15:33:00
