The all-cash transaction proposes a 41% premium on WonderFi’s shares, which were priced at 36 Canadian cents each at the close of the previous trading session. The crypto market, revitalized under the administration of U.S. President Donald Trump, has witnessed a series of mergers in 2025, including Coinbase’s $2.9 billion acquisition of Deribit and Ripple’s $1.25 billion purchase of prime brokerage firm Hidden Road.

Last year, Robinhood also made a significant investment in the crypto market with a $200 million purchase of crypto exchange Bitstamp. The company continues to seek growth by acquiring new users and delving deeper into the crypto world, moving beyond its initial identity as a stock-trading app.

WonderFi, whose portfolio includes crypto exchanges such as Bitbuy and Coinsquare, reported processing over C$3.57 billion in cryptocurrency trading volumes in the fiscal year of 2024, marking a 28% increase from the prior year. The company’s focus on catering to both novice and experienced crypto users makes it a perfect match, according to Johann Kerbrat, Senior Vice President and General Manager of Robinhood Crypto.

Despite a 13.6% decrease in stock value on the Toronto exchange in 2025, WonderFi maintains a market capitalization of C$163.9 million. Upon completion of the acquisition, WonderFi’s team will join Robinhood, which already employs over 140 staff members in Canada.

The crypto market has seen a significant surge in interest this year, with the price of Bitcoin rising amidst economic uncertainty and trade conflicts. This is in contrast to the S&P 500 index, which has seen a 0.6% dip in 2025.

The post Robinhood Expands Crypto Reach in Canada with $180 Million Acquisition of WonderFi appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Current betting odds show Carney with a 49% probability of winning the next election, a significant increase from 26% just a month ago. On the other hand, his main rival, the Conservative Party leader Pierre Poilievre, has seen his odds decrease to 51% from a high of 72% in February.

The next federal election in Canada is set for October 20, 2025. However, under the Westminster system in Canada, an election may be triggered earlier if the opposition parties vote together against the minority Liberal government on a confidence motion when the Parliament resumes on March 24 following prorogation.

The narrowing of the gap between Carney and Poilievre on Polymarket aligns with recent poll results. According to Nanos Research, the Conservatives hold a slim one-point lead over the Liberals, a marked decrease from a 16-point advantage a month ago.

This shift in public opinion has been attributed to recent US trade threats. Poll data suggests that Canadians appreciate Carney’s business acumen and central banking experience over Poilievre’s approach.

In the context of cryptocurrencies, the approach of the two leaders differs significantly. While Poilievre, a holder of a Canadian BTC ETF, has been vocal about his pro-blockchain and crypto stance, Carney has yet to address the topic in his new role. His previous remarks on cryptocurrencies as the governor of the Bank of England were largely skeptical.

The post Canadian PM Mark Carney’s Polymarket Odds Surge, Closing in on Bitcoin Advocate Poilievre appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Carney triumphed in the election on March 9, succeeding Justin Trudeau who was in office for over seven years. His career includes tenure as the governor of the Bank of Canada from 2008 to 2013, after which he crossed the Atlantic to serve as the governor of the Bank of England for a subsequent seven years. On March 1, Carney announced that he was in the process of renouncing his UK and Irish citizenships.

Carney has been a vocal opponent of Bitcoin BTCUSD since at least March 2, 2018, when he criticized the cryptocurrency’s fixed supply cap as having “significant shortcomings”. He warned that Bitcoin’s limited supply has led to a global speculative mania and a surge in new cryptocurrencies. He also criticized Bitcoin and other cryptocurrencies for being unreliable stores of value in the short term.

In the same context, Carney advocated for central bank digital currencies, stating they could extend banking access and potentially help central banks in combating terrorism and economic crime.

Interestingly, Carney served on the board of payments processor Stripe from February 2021 to January 2025, a period during which Stripe incorporated a variety of crypto payment solutions.

Carney’s stance on Bitcoin and cryptocurrencies seems to be even more critical than his predecessor Trudeau, who described the pro-crypto platform of opposition leader Pierre Pollievere as “reckless”.

Carney is also known for his strong stance against US President Donald Trump’s tariffs, accusing him of hurting Canadian families and attempting to undermine Canada’s economy. He has promised to maintain Canada’s retaliatory tariffs until “the Americans show us respect.”

The post Canada’s Newly Appointed Prime Minister Mark Carney Criticizes Bitcoin’s ‘Significant Shortcomings’ appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

This isn’t Purpose’s debut in the crypto ETF arena. The company pioneered the issuance of spot Bitcoin and Ethereum ETFs, which made their debut on the Toronto Stock Exchange in February and April of 2021, respectively. Although XRP exchange-traded products (ETPs) have already made a mark globally, Purpose is aiming to add another feather to its cap by offering the premier spot XRP ETF, as per their Thursday statement.

The proposed ETF is designed primarily for long-term investments in XRP, with a focus on generating long-term capital gains for ETF unit holders. Purpose Investments reiterated its dedication to innovation and bridging the gap between traditional and decentralized finance.

According to Purpose Investments CEO, Som Seif, “As XRP attracts more institutional interest and user adoption, we believe an ETF can provide investors a transparent and familiar method to access it within a regulated framework.”

While several US-based asset management firms, including Grayscale, Bitwise, Canary Capital, WisdomTree, and 21Shares, have also applied to the U.S. Securities and Exchange Commission for spot XRP ETFs, Canadian regulators typically approve ETFs faster, particularly cryptocurrency ETFs. This difference in regulatory pace may give Purpose Investments the edge in achieving its goal.

However, the advent of a more crypto-friendly administration in the U.S., along with the likely confirmation of a pro-crypto SEC Chair, Paul Atkins, could potentially hasten the U.S. crypto ETF approval process.

European exchanges already host an XRP ETP from 21Shares (AXRP) and a European XRP ETP from Bitwise (GXRP), which offers secure custody solutions for XRP. Regulatory variances cause crypto investment vehicles in Europe to be structured as ETPs rather than ETFs.

Vlad Tasevski, Purpose’s Chief Innovation Officer, emphasized the company’s commitment to “providing exposure to transformative digital assets and blockchain technologies through regulated investment vehicles.”

Please note: This article is intended for informational purposes only and should not be taken as legal, tax, investment, financial, or other advice.

The post Purpose Investments Pursues Pioneering XRP ETF Launch in Global First appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

dYdX, a decentralized finance (DeFi) crypto exchange, has announced that it will stop offering its services to users based in Canada and exit the country later this month. Here are some key points:

• dYdX has already stopped onboarding new Canadian users
• Existing Canadian customers have until April 14, 2023, to manage and liquidate all open positions
• All existing Canadian users will be moved to close-only mode on April 14, allowing them to withdraw their funds at any time

Regulatory Climate in Canada Cited as Reason for Exit

According to a blog post on dYdX’s official website, the DeFi exchange cited the regulatory climate in Canada as the reason for its decision to exit the country. Earlier this year, the Canadian Securities Administrators published a notice detailing enhanced rules and regulations that crypto exchanges were required to comply with. This included increased oversight, custody rules, and a ban on margin/leverage, among other things.

DYDX Token Takes a Hit

The announcement prompted a drop in the DYDX token, the governance token of the layer-2 protocol that powers the namesake DeFi exchange. The token sank almost 5% to $2.4 before recovering to $2.51, and its market capitalization shrank by more than $30 million.

In conclusion, the DeFi exchange dYdX has decided to suspend services for Canadian users and exit the country later this month due to the regulatory climate in Canada. Existing Canadian users will have until April 14 to manage and liquidate all open positions before being moved to close-only mode. The decision has had an impact on the DYDX token, which experienced a drop in value.

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According to the CSA, new measures have been taken to strengthen the regulatory framework for cryptocurrency exchanges. The statement claims that all crypto trading companies in Canada, both domestic and international, must adhere to the updated rules, which prohibit them from providing margin or leverage trading services to any Canadian clients.

The amended rules also stipulate that Canadian crypto exchange service providers separate custody assets from the platform’s proprietary business. The CSA said that custodians would generally be regarded as qualified if they are subject to “a supervisory regime for conduct and financial regulation” in either Canada or the United States.

Investors are strongly encouraged to only use a platform registered with CSA members, as the council underlined that despite these precautions, crypto assets and related financial instruments remain high-risk investments.

The Canadian Securities Administrators (CSA) referenced its previous statement to Canadian crypto exchanges, dated August 15, 2022. Pre-registration undertakings are anticipated from unregistered Canadian crypto trading sites as they pursue registration, as indicated by the authority.

The CSA’s message followed FTX’s June 2022 deal to acquire Bitvo, a Canadian cryptocurrency platform. FTX’s original intent with the purchase was to use it to launch a global expansion. However, Bitvo was able to cancel its acquisition by the now-defunct FTX, allowing it to continue operations after the exchange went bankrupt.

In November, Pamela Draper, CEO of Bitvo, stated that the deal had not finished because the companies were still trying to satisfy the closing criteria, the most important of which was regulatory approval from the Alberta Securities Commission.

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