The Retail trading giant Robinhood takes over a crypto company that is being advertised by Mr. Wonderful, Kevin O’Leary of Shark Tank.
According to press releases by Both companiesRobinhood acquires Wonderfi, a Canadian crypto leader.
The deal is expected to be closed halfway through this year. Wonderfi is planning to continue the activities on its products after the scheme has been closed.
Says Wonderfi President and CEO Dean Skurka of the acquisition,
“Wonderfi and Robinhood are united in our visions to make crypto accessible and to bring more people into the crypto room. We are pleased to become a member of the Robinhood team and to super load our product range for customers.”
According to Robinhood’s announcement, the “All-cash purchase price” comes to around C $ 250 million, or around $ 179 million.
Said Johann Kerbrat, SVP and GM from Robinhood Crypto, from the deal,
“Wonderfi has built a formidable family of brands that operate both beginners and advanced crypto users, making them an ideal partner to accelerate Robinhood’s mission in Canada.
We look forward to working with the Wonderfi team to deliver innovative, user-oriented crypto products to Canadian customers. ”
Earlier this year, the US Securities and Exchange Commission (SEC) dropped its investigations into Robinhood due to alleged violation of the federal securities laws without pursuing further enforcement actions.
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