The Canadian crypto-trading platform, which trades on the Neo exchange, issued a release saying it believes Coinsquare’s notice of termination of a deal to acquire it for $29 million in cash and stock plus performance incentives is invalid. “If necessary, CoinSmart intends to vigorously contest Coinsquare’s purported termination,” the release said. (The Logic)

Talking point: It’s the latest salvo in a Canadian crypto merger drama. Last week, BNN Bloomberg reported Coinsquare is in merger talks with a different rival platform, Vancouver-based WonderFi. WonderFi issued a release saying “it has held preliminary discussions with various third parties” about both acquiring another firm or being acquired. CoinSmart, meanwhile, is being left behind in an extremely challenging market for crypto-trading platforms. The failed acquisition was one of many in recent months. In a previous email to The Logic, COO Eric Richmond said the company “validly exercised its termination right under the transaction agreement.”