The drama at WonderFi isn’t over yet. As the Toronto crypto firm agrees to sell to Robinhood for $250M, cracks are showing. Proxy firm Glass Lewis slammed the deal’s process, calling it “clearly suboptimal.” Why? WonderFi locked in an exclusivity deal with Robinhood—before getting two better offers.
Then came the payouts: $6M to an activist investor to stay quiet and $1.8M to the board chair for moonlighting as a banker. Rival bidder Questrade? Ignored. A WonderFi rep insists it was all above board. But with internal rifts and governance concerns piling up, this merger’s future looks anything but chill.
Want to know more? Check out the source code on The Logic.