Michael Patryn, the convicted money launderer and co-founder of the infamous Canadian crypto-trading platform Quadriga who went on to become a decentralized finance icon under the pseudonym Sifu, has launched a new crypto lending protocol called UwU Lend. (The Defiant)
Scott Thomson, the outgoing CEO of Caterpillar dealer Finning International, will succeed Brian Porter in February 2023. (The Logic)
The digital consulting company said it would hire 1,000 people in Calgary, where the company recently opened a new office space and signed partnerships with Alberta universities, doubling its earlier plans of 500. Infosys had initially planned to recruit 2,000 workers, and pledged to double that number last year. (The Logic)
Lawyers for the two institutional investors, which co-led a US$400-million funding round for the troubled crypto lending firm, expressed concern that the bankruptcy proceedings are overly focused on retail investors. Proceeds from the sale of mining equipment, subsidiary GK8 and other assets, they argued, should “largely inure” to their clients. (The Logic)
The Australian financial-software company Link said the timeline had expired to meet the proposed deal’s conditions. A hearing on the deal was scheduled in Sydney on Friday and Link said the court declined to approve the Toronto-based legal-software maker’s arrangement and dismissed the proceedings. Dye & Durham said Link has now terminated the discussions. (The Logic)
The theatre-technology company will pay $18.5 million in cash and $2.5 million in stock, plus a possible $4 million in future payments if Ssimwave meets certain metrics. The startup will keep its name, office and staff following the acquisition. (The Logic)
The $29-million cash-and-stock deal, plus performance incentives that could add an additional $25.5 million to the deal, will result in a combined company with more than $350 million in assets and a user base of more than one million. (The Logic)
John Craske, a spokesperson for the Swedish fintech company, told The Logic that fewer than 100 employees globally would lose their jobs as part of a restructuring under newly-appointed COO Camilla Giesecke. The layoffs were first reported by Bloomberg. (The Logic, Bloomberg)
May was most recently envoy to Brazil between August 2019 and July 2022, and previously ran Global Affairs Canada’s defence and security relations division. (The Logic)
International Trade Minister Mary Ng on Friday also appointed Karl Tabbakh, Quebec managing partner at law firm McCarthy Tétrault, as chair of the federal agency for attracting foreign capital. (The Logic)