The $29-million cash-and-stock deal, plus performance incentives that could add an additional $25.5 million to the deal, will result in a combined company with more than $350 million in assets and a user base of more than one million. (The Logic)
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The $29-million cash-and-stock deal, plus performance incentives that could add an additional $25.5 million to the deal, will result in a combined company with more than $350 million in assets and a user base of more than one million. (The Logic)
Talking point: Cryptocurrency-trading platforms are consolidating, with acquisition targets looking like bargains in the bear market. In April, Kevin O’Leary-backed WonderFi added Coinberry to its portfolio, which already included Bitbuy. Bahamas-based FTX also bought Calgary’s Bitvo in June. Buyers seem interested in regulated crypto platforms in particular—Coinsmart, Bitbuy, Coinberry and Bitvo are among the nine platforms registered with Canadian securities regulators. Toronto-based Coinsquare, which settled with the Ontario Securities Commission in July 2020 over allegations of inflating trading volumes and retaliating against a whistleblower, has made pre-registration undertakings.
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