Adam Arviv, CEO of Miami-based hedge fund management firm Kaos Capital, is leading a push by investors to replace what they called WonderFi’s “entrenched and disorganized board” in a release, in an effort to improve the Toronto-based crypto-platform operator’s stock performance. (The Logic)

Talking point: The group of investors, who collectively hold 22 per cent of WonderFi’s stock, questioned why the company has underperformed peers in the digital asset sector during a massive runup in the price of Bitcoin and other cryptocurrencies. Kaos said it intends to nominate five new directors ahead of the company’s May 21 annual meeting. Vancouver-based fintech Mogo, which holds a 13 per cent stake in WonderFi, is supporting the proxy fight. Fellow Toronto-based crypto company Ether Capital has also faced pushback from shareholders frustrated with the discount between the company’s stock and the value of its crypto holdings. In an emailed statement, WonderFi spokesperson Riyaz Lalani said the board “is committed to acting in the best interests of the company.”