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Crypto Exchange Ziglu Courting Buyers After Robinhood Deal Collapses: Report
Ziglu is also looking to raise $2.5 million to enable it to continue operating until it finds a buyer.
Crypto trading platform Ziglu is talking with buyers interested in acquiring it for a lower price following the collapse of its acquisition deal with Robinhood Markets (HOOD), Sky News reported on Thursday.
The London-based firm is in discussions with a number of interested parties and is hiring investment bankers to oversee the sale, according to the report.
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The firm is also looking to raise around 2 million British pounds ($2.5 million) at a valuation of $12.3 million to enable it to continue operating until it reaches a deal.
Robinhood agreed to acquire Ziglu for $170 million in a deal that would have given the U.S. online brokerage a fully regulated arm in the U.K. Robinhood, however, cut the offer to $72.5 million in August, and the deal subsequently collapsed.
Ziglu didn't immediately respond to a request for comment.
Read more: Robinhood Received Crypto-Related Subpoena Request From SEC: 10K
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
