.WonderFi closed its acquisition of Canadian crypto trading platform CoinberryHQ and says more M&A may be forthcoming. mikeybellusci reports
on Monday, following its"uplisting" to the Toronto Stock Exchange last week.
The deal was approved by the Competition Bureau Canada, Ontario Securities Commission and other provincial regulatory boards, according to WonderFi. In addition, WonderFi said it may purchase other crypto companies as the shakeout in the sector continues. CEO Ben Samaroo told CoinDesk he thinks other nonregulated crypto trading platforms might have, which had exposure to troubled hedge fund Three Arrows Capital and has had to limit withdrawals. As a result, WonderFi has begun looking at potential deals for nonregulated exchanges both in Canada and globally.
WonderFi’s acquisition comes after a 20% staff reduction at both WonderFi and Bitbuy, a crypto trading platform . The job cuts were made to streamline costs and deliver shared services across compliance, customer service, product engineering and executive functions. and play-to-earn gaming and non-fungible tokens businesses under one umbrella. Kevin O'Leary, a Canadian businessman and noted investor, is a strategic investor in WonderFi..
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vauld halts withdrawals and hires legal and financial advisorsVauld, a Singapore-based crypto trading and lending platform with most of its team in India, has suspended withdrawals.
Read more »
How to Build a Well-Balanced Crypto Portfolio | Binance AcademyWhen trading or investing, proper asset allocation and diversification can balance your crypto portfolio and reduce its overall risk.
Read more »
Keys lost in the Vauld: Singapore crypto exchange freezes withdrawalsAdvertisements to hold your own keys just keep coming! Singapore-based crypto exchange Vauld suspends all withdrawals from the platform.
Read more »
Sango crypto hub goes live in the Central African RepublicThe initiative aims to attract businesses and global crypto talent/enthusiasts, ramp up local BTC adoption, and oversee the rollout of crypto regulatory frameworks and infrastructure.
Read more »
Haters to unite at the first conference for crypto skepticsCrypto detractors plan to converge on what could be the very first anti-crypto conference in September. Attendees hope to speak to policymakers on what they believe are prudent ways to regulate and restrict the industry.
Read more »
Meta Ending Crypto Project Novi After Mark Zuckerberg Unveiled Metaverse Digital Wallet – Featured Bitcoin NewsMeta Platforms, formerly Facebook, has announced the ending of its crypto project Novi as the company focuses on the metaverse. cryptocurrency diem libra
Read more »