The Toronto-based crypto firm said in a release that a post by the newsletter CoinSnacks, which alleges the company’s recent share price surge is thanks to a coordinated pump by crypto influencers who are also company insiders, is inaccurate and misleading. (The Logic)

Talking point: Shares of DeFi plunged as low as 25 per cent before recovering to close up about 2.7 per cent on the Cboe Canada exchange on Wednesday. In January, the company acquired Reflexivity Research, a crypto research firm founded by popular crypto influencers Anthony Pompliano and Will Clemente, in an all-stock deal. Since then, DeFi’s shares have soared 184 per cent. CoinSnacks alleges that growth is directly related to promotional posts by Pompliano, as well as influencers and researchers connected to or paid by DeFi. DeFi said in the release it suspects the CoinSnacks post was commissioned by short sellers connected to an investment bank that recently made a rebuffed offer for the company. CoinSnacks co-founders Luke Ostapchuk and Dillon Newman did not immediately respond to requests for comment.