In its third-quarter financial statements, the Vancouver-based fintech disclosed it marked down the value of its 13 per cent stake in the Toronto crypto firm to $12.2 million as of Sept. 30 from $25.7 million on Dec. 31, 2023. Because of the writedown, Mogo obtained a waiver from its lender to avoid breaching an agreement that required a minimum net worth, according to the financial statements. (The Logic)

Talking point: WonderFi’s lagging stock performance was a main point of contention behind last spring’s boardroom brawl, in which activist shareholder Kaos teamed up with Mogo to demand an overhaul of the firm’s directors. The revamped board has so far failed to improve WonderFi’s performance: the crypto-platform owner’s stock price fell 36 per cent from May 28, the day shareholders elected the new slate of directors, to $0.14 on Sept. 30, although it has since risen marginally. Rival Kraken announced layoffs in late October as crypto platforms continue to struggle following the 2022 collapse of Bahamas-based giant FTX.