Robinhood Announces Acquisition of WonderFi for $250 Million
Robinhood Markets Inc (NASDAQ: HOOD) plans to acquire WonderFi Technologies Inc, a Canadian crypto company. This acquisition will allow Robinhood to enter the Canadian crypto market and expand its global digital finance presence.
Acquisition Details
- Robinhood will buy all common shares of WonderFi for $0.36 per share, totaling approximately $250 million.
- The offer represents a 41% premium over WonderFi’s closing share price on May 12, 2025.
- The deal includes a 71% premium compared to its 30-day volume-weighted average price (VWAP).
- WonderFi operates regulated platforms Bitbuy and Coinsquare, with over $2.1 billion in assets under custody.
WonderFi's leadership will remain post-acquisition, ensuring continuity and the development of new services for Canadian users. The transaction is anticipated to close in the second half of 2025, pending regulatory reviews, court approval, and a shareholder vote.
Robinhood is financing the deal with cash on hand, advised by JPMorgan, while WonderFi received support from FT Partner and Origin Merchant Partners.
M&A Activity in Crypto
- Kraken announced a $1.5 billion acquisition of NinjaTrader.
- Coinbase acquired the options platform Deribit after competing bids.
- Ripple Labs announced a $1.25 billion acquisition of Hidden Road following its legal battle with the SEC.