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Robinhood CEO Says Crypto Will “Fundamentally” Change Finance
In a post to X (formerly Twitter), Robinhood CEO Vlad Tenev stated his belief that crypto would completely change the financial industry. Specifically, Tenev noted that digital assets will “fundamentally reorganize the financial system” in a statement about the industry and its growth in an ever-changing world.
The statement comes after Robinhood announced the acquisition of cryptocurrency exchange Bitstamp. Indeed, Tenev notes that the purchase will allow the company to accelerate its vision and “combine forces with Bitstamp’s global footprint.”
JUST IN: Robinhood CEO Vlad Tenev says “we believe crypto will fundamentally reorganize the financial system.”
– Watcher.Guru (@WatcherGuru) June 6, 2024
Read also: How did Dogecoin react to the release of 90 million tokens from Robinhood?
Robinhood CEO Discusses Crypto’s Growing Vitality
There’s no denying that cryptocurrencies have been a huge talking point so far in 2024. With two crypto-based ETFs approved by the United States Securities and Exchange Commission (SEC), the asset class is become a point of interest for an increasing number of people. individuals and financial entities.
This development has affirmed the place that digital assets occupy in the grand scheme of the American economy. Additionally, they have proven their ability to challenge the status quo. Subsequently, this is a sentiment echoed by Robinhood CEO Vlad Tenev, who recently praised the transformative power of crypto.
We believe crypto will fundamentally reorganize the financial system and we are acquiring @Bitstamp to accelerate our vision. Soon, we will join forces with Bitstamp’s global footprint, core spot exchange, and industry-leading products such as cryptocurrency-as-a-service, institutional…
– Vlad Tenev (@vladtenev) June 6, 2024
Read also: Shiba Inu: Robinhood moves 3 trillion SHIB as prices rise
“We believe crypto will fundamentally reorganize the financial system,” Tenev said in a recent statement. “We acquire [Bitstamp] to accelerate our vision. He also commented on the combination of forces between the two companies. Specifically, he highlighted their creation of “core spot exchanges and cutting-edge crypto products such as crypto-as-a-service, institutional lending, and staking.”
The historic acquisition was announced Thursday, with Robinhood buying the exchange for $200 billion. Additionally, the acquisition is expected to be completed early next year, according to reports. It presents an expansion strategy implemented by Robinhood, rooted in its belief in the digital asset sector.