\ Breaking Robinhood to Acquire Bitstamp

Regulatory Hot Takes

01/ FinTech giant + Global Crypto Exchange

02/ Both companies < 15 years old

03/ Robinhood (NASDAQ: HOOD) is a public co

04/ Robinhood has a resume of issues w/ FINRA, SEC, NYDFS, and other state regulators

05/ Bitstamp website says 29% of staff (~180 people) comprise compliance, regulation, legal, risk, security, and audit teams; however, only the Group GC was listed amongst the Exec Team (no CAMLO or Head of FinCrime)

06/ Robinhood website has a Chief Legal, Compliance, and Corp Affairs Officer + a VP, CCO listed amongst the Exec Team (no CAMLO or Head of FinCrime)

07/ In the US, we’ve seen deliberate pressure and actions (enforcement under the guise of BSA authorities) on FinTech and Crypto friendly banks by the supervisory agencies

Without the regulatory lens, this is an exciting M&A announcement…let’s see how it goes!