WonderFi closes acquisition of Coinberry

Supported by TV personality Kevin O’Leary, the DeFi platform WonderFi Technologies has acquired the Canadian cryptocurrency exchange Coinberry. The press release states.

“This acquisition further strengthens WonderFi’s position as a leader among cryptocurrency companies in Canada and […] creates an excellent foundation for our expansion into global markets,” said WonderFi CEO Ben Samaroo.

According to CoinDesk, the deal was worth $30 million.

The company announced the acquisition a week after it announced its listing on the Toronto Stock Exchange.

Earlier, the DeFi platform cut staff by 20%. Similar measures were taken by the Bitbuy crypto exchange, which WonderFi acquired in January. Media reports say the layoffs were driven by cost optimization.

In August 2021, Coinberry became one of the regulated crypto exchanges that the Ontario Securities Commission barred from operating with Tether’s USDT.

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