Finance
Robinhood Agrees to Buy Crypto-Platform Operator WonderFi
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Robinhood Markets Inc. agreed to acquire WonderFi Technologies Inc., the operator of two Canadian cryptocurrency platforms, for about C$250 million ($179 million) in cash.
The fintech will purchase all of WonderFi’s issued and outstanding common shares for 36 Canadian cents apiece, 41% higher than the closing price Monday, according to a statement Tuesday. WonderFi has more than C$2.1 billion in assets under custody.