Robinhood has acquired Bitstamp and spent $200 million to expand its cryptocurrency business into the EU, but it doesn't intend to stop there.
Posted on June 11, 2024 at 12:00 PM EST.
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Robinhood has been in the spotlight for its $200 million acquisition of European cryptocurrency exchange Bitstamp. The TradFi app's foray into crypto is paying off: Recent earnings have shown a strong increase in revenue, and the Bitstamp acquisition is just one way the company is expanding its profits.
Johan Kjellbladt, General Manager of Robinhood Crypto, appeared on the show to discuss the acquisition, Robinhood's plans to expand its cryptocurrency business internationally and into the institutional market, the company's approach to listing crypto assets, how regulation has influenced the company's business decisions, and its efforts to bridge the gap between traditional and decentralized finance.
Show highlights:
- How the Bitstamp acquisition will change Robinhood
- Whether Robinhood could list more coins and whether it is considering further acquisitions
- Whether the uncertainty of cryptocurrency regulations in the US influenced the decision to acquire Bitstamp, and what other jurisdictions besides the EU Robinhood Crypto is targeting
- Why Yohan is disappointed that Robinhood received the SEC notice to Wells
- Yohan's US Crypto Regulatory Wish List and Why Robinhood Supports the FIT21 Bill
- Why Robinhood delisted ADA, MATIC, and SOL and the process for listing or delisting coins on the platform
- Yohan's crypto background and journey with Robinhood Crypto
- How Robinhood is uniquely positioned to bring real-world assets and securities on-chain, and how it will handle serving institutional investors
- The impact and importance of the introduction of a spot Bitcoin ETF
- Why Robinhood decided to offer staking, but only on Solana, not Ethereum
- Is there demand for crypto-native features on the Robinhood platform?
- Robinhood's partnership with Arbitrum and whether the company will build its own Layer 2
- Yohan's thoughts on the meme coin craze and whether Robinhood could list them
- What Yohan thinks about the political battle over cryptocurrency in the US
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Episode Transcript
guest:
Link
Bitstamp Acquisition:
Robinhood's Cryptocurrency Business:
Regulatory measures:
Meme Coin Mania
Ethereum ETFs:
