U.S. brokerage Robinhood Markets set to acquire crypto company WonderFi for $250-million
Popular commission-free U.S. brokerage Robinhood Markets Inc. HOOD-Q is entering the Canadian market with a $250-million deal to acquire cryptocurrency company WonderFi Technologies Inc. WNDR-T.
The deal, which is subject to shareholder and regulatory approval, values WonderFi at 36 cents per share, representing a 41-per-cent premium over its closing price on Monday.
WonderFi closed at 34.5 cents per share, up nine cents or 35 per cent, on the Toronto Stock Exchange on Tuesday.
The acquisition is the latest example of consolidation in a sector that has surged in recent months thanks to support from U.S. President Donald Trump, who branded himself as the pro-crypto candidate during the 2024 election campaign.
Since his return to office, U.S….
