On February 2, 2025, California-based trading platform Robinhood announced plans to provide U.S. customers access to bitcoin and ether futures through a new partnership with CME Group. This move marks a significant expansion into the crypto futures market, complementing its existing offerings in gold and oil futures.
Robinhood's strategy follows its acquisition of the crypto exchange Bitstamp for approximately $200 million, positioning the company as a competitor to major exchanges like Coinbase and Binance. This acquisition was influenced by Bitstamp's successful attainment of multiple regulatory licenses globally, particularly in Europe, which has recently tightened its crypto regulations.
Despite these advancements, Robinhood faces ongoing regulatory challenges. Earlier in February, the U.S. Securities and Exchange Commission (SEC) imposed a $45 million penalty on Robinhood Markets for failing to investigate suspicious transactions and address cybersecurity issues. Furthermore, last September, Robinhood's crypto arm settled for $3.9 million with California's Department of Justice over restrictions on customer withdrawals and disclosure violations.