The exchange's losses have escalated, with a reported loss of approximately €7 million in 2022, which tripled to nearly €20 million in 2023.

This decline in performance was largely influenced by lower Bitcoin prices throughout the year and decreased retail investor activity, compounded by internal restructuring.

Looking ahead, Robinhood announced plans in June to acquire Bitstamp, aiming to bolster its global expansion in the cryptocurrency sector.

This acquisition could enhance Robinhood's reach, as Bitstamp holds over 50 active licenses globally, covering markets in the EU, UK, US, and Asia.

While no forecasts for 2024 have been provided, the rising Bitcoin price, currently around $44,000 compared to an average of $16,000 in 2023, suggests potential for improved performance.

JB Graftieaux, Bitstamp's CEO, expressed optimism that the acquisition would enhance users' trading experiences while ensuring compliance and security.

Bitstamp Limited, a UK-registered cryptocurrency exchange, faced significant financial challenges in 2023, reporting a revenue drop to just under €8 million and a net loss of €19.7 million.

Bitstamp's revenue experienced a staggering 70% decline from €29 million the previous year, reflecting the unfavorable market conditions and reduced trading volumes.

Despite these setbacks, Bitstamp remains a significant player in the cryptocurrency market, ranking ninth among the largest exchanges by spot volume, with nearly $8 billion in trading activity in July 2024.

Part of Bitstamp's operations has been transferred to its subsidiaries, including Bitstamp UK Limited, Bitstamp Global Ltd, and Bitstamp Europe SA.

In response to regulatory changes, specifically the EU's Markets in Crypto-Assets Regulation (MiCA) that took effect on June 30, Bitstamp proactively delisted the EUR-denominated stablecoin EURT.

In addition, Bitstamp UK Limited reported minimal turnover of £1 million and a net loss of £1.5 million in 2023.