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🌙 Robinhood To Acquire Bitstamp Exchange for $200M

Robinhood said it will acquire one of the industry’s oldest crypto exchanges Bitstamp, expanding the stock-trading app’s crypto footprint.

Author

Mike Gavela
June 06, 2024

Crypto Roundup - June 6

Robinhood has acquired crypto exchange Bitstamp for $200 million to expand its crypto offerings. Johann Kerbrat, Robinhood's head of crypto, stated that the acquisition will attract wealthy investors due to Bitstamp's reputation and regulatory compliance. Meanwhile, BlackRock and Citadel Securities are backing a new stock exchange in Texas, aiming to challenge established US exchanges by reducing trading costs and increasing market competition.

Top Stories:

  • Robinhood acquires Bitstamp for $200 million to expand its crypto presence.

  • Bitstamp's regulatory compliance attracts wealthy investors, says Johann Kerbrat.

  • BlackRock and Citadel back a Texas exchange to challenge major US exchanges.

TOP STORIES

Robinhood to acquire Bitstamp exchange for $200m in aim to become ‘on-ramp to the crypto world’

The popular stock-trading app is betting bigger on crypto with the latest acquisition.

www.dlnews.com/articles/markets/robinhood-acquires-crypto-exchange-bitstamp-for-200-million

Robinhood crypto head says Bitstamp will help lure wealthy investors

The fintech giant has catered towards retail investors. Now, it's aiming for institutional traders.

www.dlnews.com/articles/markets/robinhood-johann-kerbrat-says-bitstamp-wins-wealthy-investors

Why BlackRock and Citadel Securities are backing a Texas stock exchange

BlackRock-backed Texas exchange TXSE will list public companies and facilitate trading in exchange-traded products.

www.dlnews.com/articles/markets/why-blackrock-and-citadel-securities-backed-a-texas-exchange

FUNDRAISES

The Sandbox announces $20M funding at $1B valuation cap to expand creator economy in open metaverse

Animoca Brands and its subsidiary Bacasable Global Limited, operator of The Sandbox announced that The Sandbox has raised US$20 million of convertible promissory notes with a US$1 billion valuation cap. The strategic funding was led by Kingsway Capital and Animoca Brands with participation by LG Tech Ventures and True Global Ventures. Noteholders have the ability to convert into equity of Bacasable Global Limited at the same terms as existing preference shares.

www.animocabrands.com/the-sandbox-announces-usd20m-funding-at-usd1b-valuation-cap

OTHER HEADLINES

Bitcoin Falls Back After Attempt at $72K, but Fed, U.S. Data and Global Rate Cuts May Bring New All-Time Highs

Upcoming consumer price index and labor market data releases in the next few days could be key for what's next for bitcoin's price.

www.coindesk.com/markets/2024/06/06/bitcoin-falls-back-after-attempt-at-72k-but-fed-us-data-and-global-rate-cuts-may-bring-new-all-time-highs

Medical Device Maker Semler Scientific Buys $17 Million More Bitcoin and Is Raising Money to Purchase More

The firm currently holds 828 bitcoin and plans to expand its crypto treasury

www.coindesk.com/markets/2024/06/06/medical-device-maker-semler-scientific-buys-17-million-more-bitcoin-and-is-raising-money-to-purchase-more

New York Sues Crypto Miner and Exchange for $1 Billion In Fraud - Decrypt

A little-known crypto exchange drew $1 billion from investors by generating fake returns using old investor money, the state attorney general alleges.

decrypt.co/234261/new-york-1-billion-fraud-crypto-exchange-miner

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