Directors Rob Godfrey and Igor Gimelshtein also stepped down from the board of the Toronto crypto-platform operator effective Tuesday. Activist investor Kaos Capital nominated Godfrey and Gimelshtein following its 2024 push to shake up the company’s board, while WonderFi appointed Biderman amid the tussle. (The Logic)

Talking point: Kaos fought hard for the right to appoint two nominees, teaming up with fellow shareholder Mogo to agitate for change to what they called WonderFi’s “entrenched and disorganized board.” The activist investor retains the right to nominate two directors at WonderFi’s 2025 annual general meeting and one more at the 2026 annual general meeting as long as it maintains a stake of a certain size, according to an agreement between the firms. Hayley Suchanek, a spokesperson for WonderFi, did not respond by deadline when asked why the directors stepped down and whether Kaos has sold its stake. Biderman, who resigned as Ashley Madison CEO after the Toronto-based affair-facilitating website suffered an infamous hack in 2015, has had various roles at WonderFi and its platform Bitbuy.