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Crypto M&A Wave Heats Up! Robinhood Snaps Up WonderFi, Coinbase Eyes Deals  

TradingKey
AuthorBlock Tao
May 15, 2025 6:31 AM
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TradingKey – Major crypto platforms Coinbase and Robinhood are on an acquisition spree, earning strong analyst approval.  

On Wednesday (May 14), Coinbase Global Inc (COIN) CEO Brian Armstrong told Bloomberg TV that the company maintains a "strong balance sheet" and continues to "evaluate M&A opportunities," though it will remain selective and wait for the right timing.  

The move comes after Coinbase announced its acquisition of Deribit—the world’s largest Bitcoin (BTC)  and Ethereum (ETH) options platform—alongside its Q1 2025 earnings report on May 8. Benchmark analyst Mark Palmer praised the deal, maintaining a "Buy" rating on the stock.  

Meanwhile, on May 13, trading platform Robinhood revealed plans to acquire Canadian crypto firm WonderFi Technologies in an all-cash deal worth CAD 250M (~$179M). Mizuho’s Dan Dolev called the acquisition a "critical first step" into Canada, projecting it could add ~$250M in annual revenue—nearly 10% growth for Robinhood.  

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