Specs Chat | Sponsor Us | Follow Valko

⌐◪-◪ → Robinhood has agreed to buy U.K.-based crypto exchange Bitstamp for $200M, one of the largest crypto exchanges in Europe.

Robinhood users can already trade crypto; this acquisition is about:

1. Global expansion — Bitstamp has over 50 active licenses and registrations.

2. Institutional clientele— Bitstamp has several institutional offerings + a core spot exchange.

For context: Robinhood has 13.7M monthly active users and $130B assets in custody.

Robinhood’s aggressive crypto adoption is a testament to their team’s commitment to innovation.

⌐◪-◪ → Coinbase just launched “Smart Wallets” to make crypto easier, here’s a summary of some of the key features:

• Onboarding: setup with FaceID, Google, Fingerprint, Yubikey

• Easy Pay: pay with wallet balance OR Coinbase balance

• Gasless: devs can now sponsor gas for gasless experiences

• Security: multi-factor authentication and biometrics

It’s cool to see how Coinbase is merging centralized finance and decentralized finance by blurring the lines between custody (on Coinbase) and self-custody (Coinbase wallet).

The two-account setup is reminiscent of a savings account and a checking account — where one is used for day-to-day operations and the other is more of a vault.

⌐◪-◪ → Bybit, the third largest offshore exchange, decided to open registration to mainland China users.

For context: Bybit has long prohibited the registration and use of all Chinese users — the management team has been very strict about this.

Not sure what’s happening, but all the major exchanges have reversed course on this: Binance, Bybit, OKX.

Is China about to unban crypto or are these exchanges just practicing the ol’ — fuck around find out — adage?

Let me know what you think in Specs Chat!

Join Specs Chat!

Designed to make you a better crypto investor, builder, and operator.

💬 Chat with Valko and other experts
📚 Access additional hand-curated resources
😊 Make friends, share memes, have fun