Arbitrum Token Surges on Speculation of Robinhood Partnership Ahead of Major Crypto Event
Arbitrum’s token surged 17% amid growing speculation of a partnership with Robinhood Markets following a notable announcement on social media.
Arbitrum’s token surged 17% amid growing speculation of a partnership with Robinhood Markets following a notable announcement on social media.
The Ethereum layer-2 blockchain’s token, ARB, rose sharply within 24 hours, trading above $0.36 after Robinhood revealed a forthcoming fireside chat featuring Ethereum co-founder Vitalik Buterin, Robinhood Crypto general manager Johann Kerbrat, and A.J. Warner, chief strategy officer at Offchain Labs, the team behind Arbitrum. This event, hosted by Robinhood Europe in Cannes, France, is billed as the platform’s “biggest crypto announcements of the year”.
The speculation dates back to a May Bloomberg report , which disclosed Robinhood’s plans to develop a blockchain platform designed to enable European investors to trade US stocks. At that time, Arbitrum and Solana were both considered potential blockchain partners, though no final decision had been made. Industry insiders now suggest that Robinhood may have selected Arbitrum for this initiative, hinting at a deeper integration between the trading platform and the Ethereum layer-2 solution.
The ARB token’s price movement reflects market optimism, climbing from approximately $0.31 to an intraday high of nearly $0.39 . Despite this recent gain, the token remains down almost 50% year-to-date and has lost about 85% of its value since its January 2024 peak of $2.39. Robinhood’s shares also experienced a modest increase, trading up 1.65% overnight to $84.26 , indicating investor confidence ahead of the anticipated announcement.
Source: Google Finance
If confirmed, this partnership could mark a significant step for Robinhood in expanding its blockchain offerings in Europe, leveraging Arbitrum’s scalability and Ethereum compatibility to enhance user access to crypto and stock trading. The collaboration aligns with broader trends in which traditional finance platforms are embracing layer-2 solutions to improve transaction efficiency and user experience.
Notably, Robinhood Markets, Inc. has finalized its $200 million acquisition of Bitstamp, a Luxembourg-based cryptocurrency exchange, marking a major step in its global expansion strategy. The deal, paid entirely in cash, brings Robinhood over 50 new licences and registrations, along with access to Bitstamp’s strong institutional client base.
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