According to a research report by Bernstein, Robinhood is expected to be the biggest beneficiary of the relaxation of cryptocurrency regulation in the United States. With the possibility of a crypto-friendly policy from the Securities and Exchange Commission (SEC), Robinhood's market potential is expected to increase significantly. Bernstein has raised the target stock price of this trading platform from $30 to $51 and maintains an outperform rating on its stock.
In addition, Robinhood recently acquired the cryptocurrency exchange Bitstamp, which will enhance its ability to provide value-added cryptocurrency services.
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