Robinhood’s $179 Million Crypto Grab: Is the World Ready for This?

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Ah, Robinhood, the shining beacon of modern capitalism, is now set to acquire WonderFi—no, not a typo, but the Canadian crypto firm—for the astounding sum of 250 million Canadian dollars (about 179 million of those beloved American greenbacks). It’s an all-cash deal, of course, because why would anyone settle for anything less in this brave new world? The acquisition will mark Robinhood’s grandiose step into the land of the maple leaf, expanding its already gargantuan reach. How noble. How thrilling. It’s almost poetic.

But the fun doesn’t stop there! The deal is expected to conclude in the latter half of 2025, as promised in a press release on May 13. Yes, they’ve put it in writing, and who are we to doubt the word of a multi-billion-dollar fintech company?

Now, let’s talk about WonderFi for a moment, shall we? This company operates two of Canada’s oldest and most regulated crypto trading platforms: Bitbuy and Coinsquare. These are platforms that manage over a staggering 2.1 billion Canadian dollars in assets under custody. I know, I know, you’re already impressed. But wait, it gets better! These platforms not only allow you to trade crypto, but also offer staking and custody services. Truly, it’s as if WonderFi were a crypto utopia.

“WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood’s mission in Canada,” said Johann Kerbrat, senior vice president and general manager of Robinhood Crypto. There it is—an ideal partnership. Just what we needed. Because who doesn’t want to accelerate their mission in the great white north?

Under the grand terms of the deal, Robinhood will purchase all outstanding WonderFi shares at 0.36 Canadian dollars per share—this is a 41% premium over the last closing price on the Toronto Stock Exchange, and a 71% premium over the 30-day volume-weighted average price. Who said romance was dead?

Before the deal, WonderFi’s market cap stood at a modest 163.9 million Canadian dollars. Oh, and their stock has been down 13.6% this year. But, hey, it’s all about the long game, right? Don’t let those pesky stock dips cloud your vision of the future.

The deal is still subject to the usual formalities—regulatory approval, court approval, and, of course, approval from WonderFi’s shareholders. Because nothing says “true love” like waiting for court approval.

Crypto M&A Frenzy? Oh, It’s Only Just Begun

This acquisition, dear reader, is but one small cog in the ever-accelerating machine of crypto industry mergers and acquisitions in 2025. Why, just look at the lovely mergers happening in the background—Coinbase’s 2.9 billion-dollar purchase of Deribit, Ripple’s 1.25 billion-dollar acquisition of Hidden Road. It’s as if the crypto world is throwing money around like confetti. Why not, right? Regulations under President Trump are friendlier than ever, so what’s stopping anyone?

And it doesn’t end there. On May 2, Kraken snatched up NinjaTrader, a futures trading platform, because of course it did. Why not expand your customer base and start offering crypto futures and derivatives in the US? All part of the grand plan to create a crypto empire, one deal at a time.

Robinhood has been no slouch in this game either. In 2024, it acquired the Bitstamp cryptocurrency exchange in a $200 million deal, because why not broaden the scope and serve institutional clients in the US? And just last week, Robinhood was rumored to be developing a blockchain network for European retail investors to trade US securities. It’s a global conquest, people. You just don’t understand the grand vision.

Oh, and let’s not forget that WonderFi, before becoming the apple of Robinhood’s eye, had a stellar performance in 2024, processing 3.57 billion Canadian dollars in trading volume. That’s a 28% increase from the previous year. Yes, yes, WonderFi is the hot new thing, and we’re all just waiting to see where this romance goes.

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2025-05-13 16:20