The Kevin O’Leary-backed DeFi company is paying 29.1 million shares for Toronto-based Coinberry, worth about $38 million as of April 14. (The Logic)
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The Kevin O’Leary-backed DeFi company is paying 29.1 million shares for Toronto-based Coinberry, worth about $38 million as of April 14. (The Logic)
Talking point: The acquisition comes just a few months after WonderFi bought Bitbuy, another Canadian crypto exchange, in a deal worth $206 million. WonderFi said the Coinberry acquisition will add 220,000 more people to its user base, bringing its total to more than 750,000. The company said the increased consolidation will help Canada’s crypto industry compete against unregistered foreign exchanges—which regulators have been scrutinizing more intensely in recent months. “Canadian crypto platforms will now be able to defend their ‘Canadian territory’ against unregistered foreign exchanges like Crypto.com, FTX and Coinbase who typically have deeper pockets when it comes to customer acquisition,” WonderFi said in a statement. As a larger entity, the company said it’s eyeing international expansionAs a larger entity, the company said it’s eyeing international expansion.
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