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Canadian-based companies WonderFi Technologies Inc., Coinsquare Ltd., and CoinSmart Financial Inc. have announced their merger to create Canada's largest regulated crypto asset trading platform with over 1.65 million registered users. The newly merged company will offer Canadians a wide range of diversified products and services, including retail and institutional crypto trading,
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Today, both WonderFi and Coinsquare are big players in the Canadian crypto industry.A Bloomberg report suggesting that WonderFi is in talks with Coinsquare over a potential merger has emerged. In that report, Bloomberg noted that the merger talks were advanced and an official announcement could follow in a few days.
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Crypto exchange WonderFi, which is backed by crypto investor and billionaire Kevin O’Leary, has confirmed it is in preliminary discussions with fellow Canadian crypto exchange Coinsquare for a possible merger.In a statement on Jan. 12, WonderFi responded to a Bloomberg report suggesting the two exchanges were in "advanced merger talks"
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The combination would create the country’s largest cryptocurrency exchange. Source
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According to the email, the breach exposed “customer names, email addresses, residential addresses, phone numbers, dates of birth, device IDs, public wallet addresses, transaction history, and account balances.” Although the email was sent yesterday, Coinsquare discovered the breach last week and notified customers via Twitter. Source
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Just a month after becoming the first Canadian crypto trading platform to get registered by the Investment Industry Regulatory Organization of Canada (IIROC), Coinsquare suffered a data breach that compromised users' personal information. On Nov. 19, Coinsquare had to temporarily shut down operations to investigate an unusual activity on its platform.
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“With a diversified product suite, exceptional crypto talent, and one of the largest user bases in Canada, the combined company will be well-positioned to pursue its aggressive expansion plans,” CoinSmart CEO Justin Hartzman said in the statement. “While the crypto market is in the building phase of its life cycle,
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Canada’s crypto exchange landscape appears to be consolidating after Coinsquare, one of the largest digital asset trading platforms in the country, acquired CoinSmart for an undisclosed amount. On Thursday, Coinsquare announced that it had entered into a definitive agreement to purchase all issued and outstanding shares of CoinSmart’s wholly-owned subsidiary Simply
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It's a story that still haunts the early generation of Canadian crypto users to this day. Four years prior, Gerald Cotten, co-founder of Canada's then-largest cryptocurrency exchange QuadrigaCX, died under mysterious circumstances in India. But, before his passing, Cotten took virtual keys for digital wallets and moved them into cold
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The demand mimics a play tax enforcers at the IRS deployed against Coinbase. Source
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