Yoni Assia, founder and CEO of eToro: ‘The world is becoming more volatile’

Yoni Assia, the 45-year-old founder and CEO of eToro, has expressed concerns over the growing volatility in the world and its impact on the business. Born in Savyon, a town close to Tel Aviv, Assia spoke to EL PAÍS via video conference about his company's recent progress. He revealed that eToro acquired TradeZero, a U.S. firm specializing in more complex financial transactions, for $231 million. eToro, which went public on the Nasdaq a year ago, has seen its share price fall by over 40%.

Assia attributed the market's reaction to the irrational nature of markets, while emphasizing that eToro remains committed to growth through acquisitions and expanding into new markets like the U.S. and Singapore. The acquisition of TradeZero is crucial for positioning eToro in the United States, with the firm targeting a nine-digit business size in the U.S. by 2030.

Assia also discussed the acquisition of Zengo, a crypto wallet, aimed at expanding into the Israeli market and attracting younger users. Despite the current market highs, Assia remains cautious about the bull market's longevity and the potential risks of an AI bubble. He firmly believes in participating in capital markets to learn about risk and emphasizes the long-term potential of financial markets over traditional bank deposits.