The Vancouver-based fintech, which was early to the trend of putting digital assets on its balance sheet, disclosed that it sold all the bitcoin and ether it purchased in January 2021 for $1.25 million at a loss, recouping just $625,000 in November 2022. In a release, Mogo also said its net loss, which widened from $29.6 million during the same period the previous year, was partly driven by a $31.5 million impairment charge to its 34 per cent stake in the cryptocurrency-trading platform Coinsquare. (The Logic)

Talking point: How things have changed since the heady days of 2021 in the crypto world. When Mogo announced its crypto purchases and increased stake in Coinsquare in May of that year, it touted its exposure to “the fastest-growing asset class.” In its latest earnings release, which encompasses the crash in crypto prices that followed the collapse of Bahamas-based platform FTX, it instead highlighted that its investment in Coinsquare is its “sole remaining crypto exposure.” In October, Mogo also wound down MogoCrypto, a platform for buying Bitcoin, citing the “evolving regulatory environment.” Shares of Mogo closed up more than 12 per cent on the Toronto Stock Exchange Thursday.