Robinhood Buys WonderFi, Bitcoin Nears Record, India Tightens Crypto Oversight, PURPE Hits Real Estate

Robinhood Expands into Canada with $178.98 Million Acquisition of WonderFi

Robinhood has announced its intention to acquire Canadian crypto firm WonderFi for C$250 million, equivalent to $178.98 million, in an all-cash deal. This acquisition values WonderFi at 36 Canadian cents per share, representing a 41% premium over its previous closing price. The move is part of Robinhood's broader strategy to expand internationally and deepen its involvement in the cryptocurrency sector, evolving from its origins as a stock-trading app to a more comprehensive financial platform.

WonderFi, known for operating crypto exchanges Bitbuy and Coinsquare, processed over C$3.57 billion in crypto trading volumes during fiscal year 2024, marking a 28% increase from the previous year. Despite this growth, WonderFi's stock has declined by 13.6% on the Toronto exchange in 2025, with a current market capitalization of C$163.9 million. All WonderFi employees will join Robinhood, which already employs more than 140 people in Canada. The acquisition comes amid a resurgence of interest in cryptocurrencies, with Bitcoin prices rising despite ongoing economic uncertainty and trade tensions. In contrast, the S&P 500 index has dipped 0.6% in 2025.

Key Takeaway: Robinhood's acquisition of WonderFi for nearly $180 million signals a major push into the Canadian crypto market, leveraging WonderFi's strong trading volumes and established brands. (Source: Yahoo Finance)

$52,933,217 in Bitcoin Transferred to Coinbase Institutional Amid Price Surge

According to U.Today, a significant transfer of 509 Bitcoins, valued at $52,933,217, was detected moving from an anonymous wallet to Coinbase Institutional, the institutional branch of the largest U.S.-based cryptocurrency exchange. This transaction occurred as Bitcoin's price surged above the $105,000 mark, approaching its January all-time high of $109,100 per coin. The transfer is believed to be a sale and coincided with a 1.5% price increase for Bitcoin on the day of the transaction.

The price rally was reportedly fueled by recent developments in U.S.-China trade relations, specifically the announcement of an agreement regarding tariffs, which had previously imposed fees of up to 150% on Chinese goods entering the U.S. market. The news led to positive reactions in both the cryptocurrency and stock markets, with Ethereum surpassing $2,500. However, analysts caution that the agreement may only be a framework, and an official announcement from U.S. President Trump is still pending. Last week, Bitcoin rose from $96,140 to over $104,000 following the Federal Reserve's decision to maintain current interest rates.

Key Takeaway: A $52.9 million Bitcoin transfer to Coinbase Institutional highlights growing institutional activity as Bitcoin approaches record highs, driven by positive macroeconomic developments. (Source: U.Today)

Indian Government Orders Crypto Exchanges to Monitor Jammu & Kashmir Transactions

The Economic Times reports that the Indian government has instructed cryptocurrency exchanges to closely monitor transactions originating from Jammu & Kashmir (J&K) due to concerns over money laundering and terrorist financing. The Securities & Exchange Board of India (SEBI) has reached out to trustees of private equity and venture capital funds, also known as alternative investment funds (AIFs), to assess risks related to money laundering, terrorist financing, and proliferation financing.

This directive comes amid heightened scrutiny of financial activities in the region and is part of broader efforts to ensure compliance with anti-money laundering regulations. The Financial Intelligence Unit India is also involved in monitoring suspicious transaction reports, particularly those involving private wallets and cryptocurrency exchanges.

• SEBI has contacted AIF trustees regarding financial crime risks.
• Crypto exchanges are required to monitor J&K transactions for suspicious activity.
• The Financial Intelligence Unit India is actively tracking suspicious transaction reports.

Key Takeaway: Indian authorities are intensifying oversight of crypto transactions in Jammu & Kashmir to combat money laundering and terrorist financing risks. (Source: The Economic Times)

Purple Pepe (PURPE) Listed on Major Crypto Exchanges and Accepted for US Real Estate

Morningstar reports that Purple Pepe (PURPE), a community-driven memecoin launched in 2024, has achieved multiple new listings on major crypto exchanges, including Poloniex, LBank, BitMart, Coinstash, Biconomy, Slingshot app, Gate.io, Coinbase Wallet, and Robinhood Wallet. The token has amassed over 48,000 holders and previously reached an all-time high market cap of $140 million, attracting attention from Tier-1 platforms and mainstream investors.

In a notable real-world application, Missouri-based real estate developer Daniel Westermier has listed a commercial property in Sedalia, MO (ZIP 65301) for sale, accepting PURPE as payment. This is one of the first known instances of a US property being listed for sale with a memecoin as an accepted payment method. The project is also preparing for a major presence at the Bitcoin Conference in Las Vegas (May 27–29), supported by the WallStreetBets Facebook group, which has over 560,000 members.

“Accepting PURPE for real estate isn’t a gimmick—it’s the beginning of a new economic layer where community coins have real-world value,” said Daniel Westermier, the first US property developer to list a commercial building for memecoin payment.

Key Takeaway: Purple Pepe's expansion onto major exchanges and its acceptance for US real estate transactions mark a significant step in the real-world adoption of memecoins. (Source: Morningstar)

Sources:

• Robinhood woos Canadian crypto users with nearly $180 million WonderFi purchase
• $52,933,217 Bitcoin Stun Largest US Crypto Exchange
• Top 10 Crypto Exchanges of 2025 (So Far): A Calm Before the Institutional Storm
• Govt instructs crypto exchanges to monitor J&K transactions amid money laundering concerns
• Dubai To Let Residents Pay Gov Fees in Crypto via Crypto.com Partnership
• Purple Pepe listed on major crypto exchanges, enters US real estate market