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Crypto Exchange Ziglu Courting Buyers After Robinhood Deal Collapses: Report

Jamie Crawley
Updated ·1 min read

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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.

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.

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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