Robinhood's Shift to Bitstamp Triggers Sharp Decline in Lighter Prices

Robinhood's recent decision to route its U.S. crypto perpetual-futures product through Bitstamp has sent shockwaves through the market, causing a sharp selloff in Lighter (LIT) prices.

The news, announced at Robinhood's HOOD Summit on September 29, marked a shift away from using Lighter's infrastructure for similar offerings within Robinhood Wallet. This change triggered a significant decline in LIT prices, with the asset trading at $3.86 - down 13% over 24 hours and 26% over seven days.

Robinhood acquired Bitstamp for $200 million in June 2025 and has since integrated the exchange into its broader group. The company's new U.S. crypto perpetuals product will be built on top of Bitstamp, allowing qualifying customers to trade various assets with leverage up to 10x.