Robinhood Just Splashed $179 Million on a Canadian Crypto Darling – But What’s the Catch?
The spiffily all-cash affair treats Wonderfi shareholders to C$0.36 per share—41% above its recent price, and a heady 71% leap if you consult the last 30 days of spreadsheet sorcery. Naturally, this is all subject to the usual melodramatic rituals (regulators, shareholders, the occasional fainting couch), but the happy union should be official by late 2025. Wonderfi, incidentally, runs Bitbuy and Coinsquare—two of Canada’s most prim-and-proper crypto platforms, collectively lording over C$2.1 billion in assets and, one assumes, enough hushed conference calls to fuel a small province.