Robinhood Finalizes Bitstamp Acquisition as Crypto M&A Surges, Nasdaq Firm Plans $500M SOL Treasury Move
As summer kicks off with a quiet crypto market, industry players are making bold moves behind the scenes. From billion-dollar treasury strategies to institutional expansion, several key announcements this week reflect growing confidence in the digital asset space despite muted trading activity.
Robinhood has officially completed its $200 million acquisition of Bitstamp, the world’s longest-running crypto exchange, after receiving regulatory approval. The deal, first proposed over a year ago, marks Robinhood’s entry into institutional crypto services and global markets.
“This is just the beginning,” said Vlad Tenev, Robinhood’s co-founder and CEO. “Bitstamp adds a globally scaled exchange and becomes our first-ever institutional crypto business.”
Through the acquisition, Robinhood gains access to Bitstamp’s established client base across Europe, the UK, and Asia. Bitstamp, now branded “Bitstamp by Robinhood,” brings more than 85 tradable digital assets and over 50 global licenses. Its experienced team will remain intact as the exchange joins Robinhood’s broader crypto push.
The move follows Robinhood’s recent deal to acquire Kevin O'Leary-backed WonderFi and comes amid a wave of crypto M&A driven by regulatory clarity and market consolidation.
Educational tech firm Classover (NASDAQ: KIDZ) announced plans to raise up to $500 million through convertible notes—allocating up to 80% of the proceeds to purchasing Solana (SOL) for its treasury. The company has already secured a $400 million equity agreement with Solana Growth Ventures, potentially boosting its total funding capacity to $900 million.
This aggressive treasury move sent Classover’s stock soaring, with a 40% gain on Monday followed by a 55% jump on Tuesday, according to TradingView.
Classover joins a growing list of companies adopting Solana as part of their balance sheet strategy, including SOL Strategies, DeFi Development Corp., Upexi, and Janover.
Also in the headlines, Kraken has rolled out Kraken Prime, a full-service crypto prime brokerage tailored for institutional investors. The platform offers access to deep, multi-venue liquidity, asset-backed lending, T+1 credit, and 24/7 trade execution directly from qualified custody at Kraken Financial.
Kraken Prime enters a competitive space alongside Coinbase Prime and FalconX, with a goal of exceeding traditional finance standards for performance and compliance. The launch is part of Kraken’s larger expansion strategy, which includes its $1.5 billion acquisition of NinjaTrader, ambitions for tokenized stock trading, and plans for a 2026 IPO.
The Ethereum Foundation has rebranded and streamlined its research division, now named “Protocol,” with a sharpened focus on Layer 1 scaling, blobspace, and user experience. Leadership changes include Tim Beiko and other prominent Ethereum researchers stepping into key roles.
However, the restructure also led to at least four staff layoffs, reflecting a shift toward a leaner, more focused team. The changes follow internal and community concerns over the foundation’s research direction and pace. Last month, Hsiao-Wei Wang and Nethermind founder Tomasz Stańczak were named co-executive directors.
In a quieter yet notable move, French tech consulting firm The Blockchain Group purchased another 624 BTC for approximately $68.7 million, bringing its total holdings to 1,471 BTC—currently valued at $157 million. The company’s bitcoin was acquired at an average price of $102,054 per coin, suggesting a current paper gain of about $7 million.
The firm said the purchase reinforces its long-term crypto strategy alongside the growth of its subsidiary operations.