{"id":66020,"date":"2022-08-19T10:21:56","date_gmt":"2022-08-19T07:21:56","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66020"},"modified":"2025-09-06T23:09:31","modified_gmt":"2025-09-06T20:09:31","slug":"robinhood-secures-58-discount-on-ziglu-acquisition","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/robinhood-secures-58-discount-on-ziglu-acquisition\/","title":{"rendered":"Robinhood secures 58% discount on Ziglu acquisition"},"content":{"rendered":"

The online broker Robinhood has agreed to cut the purchase price of the Ziglu startup by 58% due to deteriorating market conditions. AltFi<\/a> reports this, citing investor documents.<\/p>\n

Ziglu operates a crypto wallet with a linked bank card.<\/p>\n

Robinhood cited the crypto winter<\/a>, problems BlockFi<\/a>, Celsius<\/a> and Voyager<\/a>, as well as macroeconomic factors.<\/p>\n

In April, the parties agreed<\/a> on a deal worth $170 million. It will now amount to $72.5 million.<\/p>\n

Ziglu is among the 50 largest unsecured creditors of Celsius.<\/p>\n

The acquisition of the startup is part of the online broker’s plans to push into the UK market.<\/p>\n

In a letter to investors, Ziglu founder Mark Hipperson said that if the deal falls through, the startup would be undercapitalised in an extremely difficult market.<\/p>\n

\n

Based on negotiations between the board and management and other considerations, we believe that the revised offer <\/em>\u2014 the best and only sensible option for the company<\/em>,<\/p>\n<\/blockquote>\n

Earlier, Robinhood CEO Vlad Tenev, at an analyst conference, ruled out the takeover of the online broker and \u0434\u043e\u043f\u0443\u0441\u0442\u0438\u043b \u043f\u043e\u043a\u0443\u043f\u043a\u0438 \u0440\u0430\u0437\u043b\u0438\u0447\u043d\u044b\u0445 \u0441\u0442\u0430\u0440\u0442\u0430\u043f\u043e\u0432<\/a>. As of June 30, the company had $6 billion in cash and cash equivalents.<\/p>\n

Previously, Robinhood announced a 23% staff cut<\/a>.<\/p>\n

Read ForkLog’s bitcoin news in our Telegram<\/a> \u2014 crypto news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

The online broker Robinhood has agreed to cut the purchase price of the Ziglu startup by 58% due to deteriorating market conditions. AltFi reports this, citing investor documents.<\/p>\n","protected":false},"author":1,"featured_media":66021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1235,1234],"class_list":["post-66020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-mergers-and-acquisitions","tag-robinhood"],"aioseo_notices":[],"amp_enabled":true,"views":"6","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=66020"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66020\/revisions"}],"predecessor-version":[{"id":66022,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66020\/revisions\/66022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66021"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}