The Toronto-headquartered crypto firm, which owns the trading platforms Bitbuy and Coinsquare, has filed a registration statement with the U.S. Securities and Exchange Commission, a step towards listing its shares on the U.S. stock exchange. The company is seeking to trade on the Nasdaq Capital Market, which focuses on early-stage firms with smaller market capitalizations. (The Logic)
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The Toronto-headquartered crypto firm, which owns the trading platforms Bitbuy and Coinsquare, has filed a registration statement with the U.S. Securities and Exchange Commission, a step towards listing its shares on the U.S. stock exchange. The company is seeking to trade on the Nasdaq Capital Market, which focuses on early-stage firms with smaller market capitalizations. (The Logic)
Talking point: CEO Dean Skurka described the SEC registration as an “important first step” towards a U.S. expansion in a release Friday. Opening WonderFi’s trading platforms to U.S. customers could be an opportunity for revenue growth during tough times for the sector. Crypto trading volumes have yet to recover from the collapse of FTX in November 2022. WonderFi’s strategy also poses regulatory risk, however. The SEC is in the midst of a crypto enforcement spree, charging Coinbase and Binance with unlawfully selling securities in June. Asked how WonderFi’s trading platforms would avoid the same fate, the company’s spokesperson Binu Koshy sent a statement that did not directly answer the question.
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