Robinhood to Acquire WonderFi for C$250 Million

Robinhood Markets has agreed to acquire Canadian crypto platform operator WonderFi Technologies for about C$250 million (US$179 million) in an all-cash deal, representing a 41% premium over WonderFi's recent closing price. WonderFi operates regulated exchanges Bitbuy and Coinsquare, which oversee more than C$2.1 billion in assets under custody. The acquisition will see WonderFi's team, including CEO Dean Skurka, join Robinhood Crypto and continue operating its platforms, with over 140 Robinhood employees already in Canada. Major WonderFi shareholders, including Mogo, have agreed to support the deal, which is expected to close in the second half of 2025 pending regulatory and shareholder approvals. This follows Robinhood’s $200 million purchase of Bitstamp and aligns with its global expansion strategy. The announcement led to a boost in both companies’ stock prices and is seen as a catalyst for increased trading activity and institutional adoption in the crypto market.