Retail investing platform Robinhood on Tuesday announced that it’s offering customers in Europe the ability to transfer cryptocurrencies in and out of its app, broadening its product capabilities in the region as it presses ahead with international expansion.
In a blog post on Tuesday, the company said that it’ll allow customers in the European Union to deposit and withdraw more than 20 digital currencies through its platform, including bitcoin, ethereum, solana, and USD coin.
The move effectively gives Robinhood’s European users the ability to “self-custody” assets — meaning that, rather than entrusting your cryptocurrency to a third-party platform, you can instead take ownership of it in a fully owned wallet that holds your funds.
In December last year, Robinhood launched its crypto trading service, Robinhood Crypto, in the EU for the first time. The service allowed users to buy and sell cryptocurrencies, but not to move them away from the platform, either to another third-party platform or to their own self-custodial wallet.
Johann Kerbrat, general manager of Robinhood’s crypto unit, told CNBC that he thinks the EU has the potential to become an attractive market for digital currencies, thanks to crypto-friendly regulations being adopted by the bloc.
“The EU can become a very attractive market next year,” Kerbrat said in an interview. He pointed to the EU’s landmark Markets in Crypto-Assets (MiCA), regulation, which sets out harmonized rules for the crypto sector across all 27 of the bloc’s member states.
Once MiCA is fully in place, Kerbrat said, every EU country will fall under the same unified regime.
“In terms of total addressable market, [the EU] is as big as the U.S.,” he told CNBC, adding, “it’s definitely an interesting market for us.”
Robinhood added that, for a limited time, the company will offer European customers the ability to get 1% of the value of tokens deposited on its platform back in the form of the equivalent cryptocurrency they transfer into Robinhood.
Robinhood is rolling out new features in the EU at a time when U.S. crypto firms are sparring with regulators at home. In the U.S., the Securities and Exchange Commission has sued several companies including Coinbase, Binance and Ripple over claims that they’re all dealing in unregistered securities.
Each of the platforms has contested the SEC’s allegations, stipulating that tokens marketed and sold on their platforms don’t quality as securities that should be registered with the agency.
“We are disappointed by the way U.S. regulation is happening, where it’s basically regulation by enforcement,” Kerbret told CNBC. “We are not super happy to see that.”
Robinhood is regulated by the SEC and the Financial Industry Regulatory Authority (FINRA) at a federal level in the U.S. It also holds a BitLicense with New York State Department of Financial Services.
Bitstamp deal
In June, Robinhood announced that it would acquire Luxembourg-based crypto platform Bitstamp to take advantage of the firm’s exchange technology and further expand its reach globally. The deal, which is valued at approximately $200 million in cash, is set to close in the first half of 2025.
Kerbrat said that the company’s deal to buy Bitstamp would help it gain access to even more international markets and obtain coveted regulatory permissions around the world. Bitstamp holds over 50 licenses and registrations globally including in Singapore, the U.K. and the EU.
Beyond expanding globally, the deal with Bitstamp is also expected to help Robinhood diversify its crypto business to serve more institutional investors, Kerbrat told CNBC. For example, Bitstamp offers a “crypto-as-a-service” offering which helps banks and other financial firms launch their own crypto capabilities.
Robinhood’s crypto trading, deposit and withdrawal functionality are currently only available to customers in the European Union, not in the U.K. The company launched its popular stock trading service to Brits in November last year. However, it does not yet currently offer crypto services to U.K. clients.
Check out the companies making headlines in after-hours trading: Hims & Hers Health — The telehealth stock fell more than 17%. Hims & Hers reported a gross margin of 77% for the fourth quarter, while analysts polled by StreetAccount expected 78.4%. This overshadowed the company’s top- and bottom-line beats for the quarter. Zoom Communications — Shares of the video-conferencing company fell about 1% after Zoom Communications delivered a revenue outlook that narrowly missed analysts’ expectations. The company is calling for full-year revenue of $4.79 billion to $4.80 billion, while analysts polled by LSEG looked for $4.81 billion. Cleveland-Cliffs — The steel producer pulled back 2% after its fourth-quarter results missed Wall Street’s expectations. Cleveland-Cliffs reported a loss of 92 cents per share on $4.33 billion in revenue. Analysts had penciled in a loss of 61 cents per share and $4.43 billion in revenue for the quarter, per LSEG. Tempus AI — Shares tumbled 7% on the heels of the health tech company’s weaker-than-expected fourth-quarter revenue. Tempus AI reported revenue of $201 million, below the $203 million that analysts surveyed by LSEG were looking for. Losses per share, however, came in narrower than expected for the period. Diamondback Energy — The oil and natural gas stock rose 1% following the company’s strong quarterly results. The company posted adjusted earnings of $3.64 per share on $3.71 billion in revenue for the fourth quarter, above the consensus estimate of $3.35 per share and $3.53 billion in revenue, according to LSEG. Topgolf Callaway Brands — Shares added about 3% after the golf company posted fourth-quarter results that beat estimates. Topgolf reported a loss of 33 cents per share on revenue of $924 million, while analysts polled by LSEG anticipated a loss of 42 cents per share and $885 million in revenue. — CNBC’s Darla Mercado contributed reporting.
Dario Amodei, Anthropic CEO, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 21st, 2025.
Gerry Miller | CNBC
Anthropic is in talks to raise a $3.5 billion funding round, significantly more than the amount previously expected, CNBC has confirmed.
The round would roughly triple the artificial intelligence startup’s valuation to $61.5 billion, according to two sources familiar with the deal, who asked not to be named because the details aren’t public. Lightspeed Ventures is leading the funding, with participation from General Catalyst and others, the sources said.
The financing, which was first reported by the Wall Street Journal, signals continued investor demand for top-tier AI companies, even in the face of potential disruption from China’s DeepSeek. Anthropic is backed by Amazon and Google, and had initially set out to raise $2 billion, according to a source.
Anthropic declined to comment.
The company’s last private market valuation was $18 billion. Amazon has poured $8 billion into the startup.
Anthropic was founded by early OpenAI employees and is the creator of the popular chatbot Claude. Earlier Monday, Anthropic released what it says is it’s “most intelligent AI model yet. Its so-called hybrid model combines an ability to reason — or stopping to think about complex answers — with a traditional model that spits out answers in real time.
JPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau.
Dimon was asked by CNBC’s Leslie Picker whether he supported efforts by Elon Musk’s Department of Government Efficiency. He declined to give what he called a “binary” response, but made comments that supported the overall effort.
“The government is inefficient, not very competent, and needs a lot of work,” Dimon told Picker. “It’s not just waste and fraud, its outcomes.”
The Trump administration’s effort to rein in spending and scrutinize federal agencies “needs to be done,” Dimon added.
“Why are we spending the money on these things? Are we getting what we deserve? What should we change?” Dimon said. “It’s not just about the deficit, its about building the right policies and procedures and the government we deserve.”
Dimon said if DOGE overreaches with its cost-cutting efforts or engages in activity that’s not legal, “the courts will stop it.”
“I’m hoping it’s quite successful,” he said.
In the wide-ranging interview, Dimon also addressed his company’s push to have most workers in office five days a week, as well as his views on the Ukraine conflict, tariffs and the U.S. consumer.