From Nasdaq

May 14, 2025 8:50:00 AM:

Shares of Robinhood Markets, Inc. (HOOD) surged 9% after announcing a C$250 million all-cash deal to acquire WonderFi Technologies Inc., a prominent player in Canada’s digital asset market managing over C$2.1 billion in assets. The transaction values WonderFi at 36 Canadian cents per share and is expected to close in the second half of 2025 pending approvals.

The acquisition of WonderFi aligns with Robinhood’s crypto strategy, enhancing its offerings with platforms like Bitbuy and Coinsquare. This move strengthens Robinhood’s position in the rapidly growing crypto market, intensifying competition with companies like Coinbase and Wealthsimple Crypto in Canada. The deal positions Robinhood to capitalize on the increasing demand for digital asset platforms.

Robinhood’s acquisition of WonderFi solidifies its presence in North America’s crypto economy, leveraging regulatory credentials and a growing user base. This strategic move, coupled with a favorable regulatory environment and international expansion efforts, positions HOOD for long-term growth in the digital asset space. Shares of HOOD have surged 67.8% this year, significantly outperforming the industry’s growth.

Interest in crypto has surged in 2025, with Bitcoin’s price rising amidst economic ambiguity. President Donald Trump’s pro-crypto stance has contributed to the optimism in the sector, leading to an increase in mergers and acquisitions. Companies like Coinbase have made strategic moves to enhance their position in the crypto market, indicating a promising outlook for the industry.

Read more at Nasdaq: Robinhood Doubles Down on Crypto With WonderFi Buyout, Stock Jumps 9%