Latest news with #RobinhoodCrypto
CNBC
2 days ago
- Business
- CNBC
Robinhood's $200 million Bitstamp deal takes it beyond retail trading
Robinhood has officially closed its $200 million acquisition of Bitstamp, bringing one of the world's longest-running cryptocurrency exchanges into its fold and signaling a strategic shift beyond retail trading and into the world of institutions. The all-cash deal, first announced last year, gives Robinhood an immediate international footprint — including more than 50 active crypto licenses across Europe, the UK, and Asia — as well as an established institutional client base, something the retail trading app has long lacked. For Robinhood, the deal marks a move into deeper waters: institutional crypto flows, lending and staking infrastructure, and white-label "crypto-as-a-service," products built for hedge funds, fintechs, and registered investment advisors — all of which require robust systems for custody, price discovery, and settlement. "I wouldn't call it necessarily a pivot," Robinhood Crypto General Manager Johann Kerbrat told CNBC. "For us, it's combining the strengths of the two businesses. We are one of the largest retail marketplaces in the U.S. … They have products that we don't have, like order books, crypto as a service, advanced API and lending and staking and thanks to that, we will be able to get into this space, not starting from scratch." Robinhood, which launched crypto trading in 2018 and helped drive the meme-coin mania of 2021, has in recent months worked to rebrand itself as a serious player in the next phase of digital asset finance — one that's increasingly defined by regulation, institutional capital, and cross-border competition. "Now that we're starting to see the regulatory clarity coming from Congress and the administration, more and more institutions are going to want to get into crypto," added Kerbrat. The Bitstamp deal gives it a head start. Founded in 2011, Bitstamp is known for its deep liquidity, compliant reputation, and minimalist approach. While not flashy, Bitstamp has weathered multiple market cycles and built longstanding relationships with institutional partners across Europe and Asia — something Robinhood plans to leverage. Earlier this month, Robinhood also acquired Canadian crypto firm WonderFi to tap into Canada's established user base. "Robinhood is a marketplace. We don't match orders. And with Bitstamp, we will have a robust product offering that will really allow us to build more on the active trader and advanced trader side of things.," Kerbrat said. "That's going to be a big step for us and really diversify our crypto business, not just from retail in the U.S. — to a global offering," he said. It also gives Robinhood a regulatory on-ramp to Europe, where crypto rules are clearer compared to the fragmented approach in the U.S. The company confirmed it will maintain Bitstamp's existing interfaces and operations for now, while exploring deeper integration over time. Bitstamp is already being used behind the scenes for smart order routing through Robinhood's institutional web platform, Robinhood Ledger. "The flow we're sending to Bitstamp will make Bitstamp more lively — and attract more institutions," Kerbrat said. The acquisition closes at a critical moment for Robinhood. The fintech player has continued to expand aggressively, including listing new tokens, launching staking, and teasing international product rollouts. Bitstamp's regulatory track record and licensing portfolio may offer a measure of insulation as Robinhood pushes further into new international markets. Kerbrat didn't rule out the possibility of other acquisitions. "If we can find a way to accelerate by at least 18 months or two years — and we have a lot of great reason to believe this is a great acquisition — it's something that we'll definitely look at," he said.
CNBC
15-05-2025
- Business
- CNBC
Robinhood Crypto GM discusses trading platform's deal with Canadian crypto firm WonderFi
Johann Kerbrat, the general manager of Robinhood Crypto, discusses the company's new deal with Canadian crypto firm WonderFi from Consensus 2025.
CNBC
14-05-2025
- Business
- CNBC
Crypto and stock trading app eToro shares soar in Nasdaq debut: CNBC Crypto World
On today's episode of CNBC Crypto World, shares of eToro soared in the crypto and stock trading platform's Nasdaq debut. Plus, Johann Kerbrat, the general manager of Robinhood Crypto, discusses the company's new deal with a Canadian crypto firm from Consensus 2025. And, Jose Fernandez da Ponte, general manager of the blockchain, crypto and digital currencies team at PayPal, discusses the company's stablecoin PYUSD.
The Hill
24-02-2025
- Business
- The Hill
SEC ends investigation into Robinhood's crypto arm
The Securities and Exchange Commission (SEC) has closed its investigation into the cryptocurrency arm of Robinhood without taking action against the online brokerage, the company announced Monday. Robinhood Crypto had received a notice from the SEC last May indicating that the agency was preparing to file an enforcement action. 'We applaud the staff's decision to close this investigation with no action,' Dan Gallagher, Robinhood's chief legal, compliance and corporate affairs officer, said in a statement. 'Let me be crystal clear—this investigation never should have been opened,' continued Gallagher, a former SEC commissioner during the George W. Bush adminstration. 'Robinhood Crypto always has and will always respect federal securities laws and never allowed transactions in securities.' Gallagher touted what he described as 'a return to the rule of law and commitment to fairness at the SEC.' The agency has pulled back on its enforcement against crypto companies since President Trump took office last month and tapped Republican SEC Commissioner Mark Uyeda to take over as acting chair. Crypto exchange Coinbase revealed Friday that the SEC agreed to dismiss its two-year-old case against the company. That same day, OpenSea CEO Devin Finzer said on X that the agency also closed its investigation into the NFT marketplace. The shift was widely expected given Trump's embrace of the crypto industry. The president has tapped several crypto-friendly figures to take on key roles in his administration. His pro-crypto pick to chair the SEC, Paul Atkins, is still awaiting Senate confirmation. During the Biden administration, the crypto industry frequently decried what they described as SEC Chair Gary Gensler's regulation-by-enforcement approach to digital assets, pressing for greater clarity about when crypto is regulated as a security or commodity.
Yahoo
24-02-2025
- Business
- Yahoo
The SEC is dropping an investigation into Robinhood
In another sign that the Trump administration will be friendlier toward the cryptocurrency industry, the Securities and Exchange Commission is dropping an investigation into Robinhood. The agency has informed the company that it won't move forward with any enforcement action, Robinhood said on Monday. In May last year, Robinhood received a Wells Notice from the SEC indicating that the agency's staff was going to recommend enforcement action against it. The company had faced potential charges of violating securities law through its crypto listings and sales. Under the Biden administration, there was some momentum for cryptocurrency to be considered and regulated as securities; Trump's policy goals seem to signal the opposite. "Robinhood Crypto always has and will always respect federal securities laws and never allowed transactions in securities," Dan Gallagher, Robinhood's chief legal, compliance and corporate affairs officer, said in a statement. "As we explained to the SEC, any case against Robinhood Crypto would have failed. We appreciate the formal closing of this investigation, and we are happy to see a return to the rule of law and commitment to fairness at the SEC." See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Robinhood added that it was looking forward to working with the SEC to develop a clearer and more "tailored" regulatory framework for digital assets. The company introduced its crypto wallet in 2022, but it has faced regulatory trouble. New York officials handed the crypto side of Robinhood's business a $30 million fine in 2022 and in 2024, the company reached a $3.9 million settlement with California over crypto withdrawal claims. Meanwhile, just last month, Robinhood agreed to pay $45 million to settle SEC charges related to record keeping, trade reporting and other alleged rule violations. Last week, Coinbase said the SEC was dropping a case against it. In a lawsuit filed during the Biden administration, the agency had accused that company of running an unregistered securities exchange.
