After Kevin O’Leary acquisition for $38.5M, Coinberry split into 2

Kevin O'Leary

WonderFi, a crypto ecosystem backed by Kevin O’Leary, plans to acquire Toronto-based crypto exchange Coinberry. The acquisition is valued to be around $38.5 million and it’s only for 30% of the company’s activity, meaning just the exchange. Legally, the company will be split into 2 – Coinberry Canada and Coinberry. The latter will be merged with WonderFi at an undisclosed time. 

According to Coinberry Canada, the main operation will remain in Kelowna, BC, and the Exchange feature will be restructured in the very near future. 

If the deal closes, it will place two out of six registered crypto exchanges under the same management.

Kevin O’Leary’s second exchange acquisition in a month

The news of the acquisition was first published in The Globe and Mail. WonderFi acquired Toronto-based crypto exchange Bitbuy less than a month ago for $206 million in cash and shares.

The second acquisition will mark a more significant step toward the nationwide growth of digital assets and the blockchain sector.

Kevin O’Leary, who backs WonderFi, said in an interview that “several more and even bigger” acquisitions are to come. If the acquisition occurs, it will extend WonderFi to 160 staff members and over 750,000 customers.

He also added that they are doing it on a regulated basis, unlike the other players. He noted that they are not going to take any risks on that.

In early 2021, the Canadian Securities Administrators, a federation of provincial and territorial securities regulators, released guidance on regulating cryptocurrency exchanges. Since then, analogous legislation has been patched together across the country.

Despite several provincial and territorial markets being uncontrolled, many foreign crypto enterprises have continued to operate in the country.

O’Leary admits to being an early skeptic of Bitcoin and cryptocurrencies. However, he has become a firm believer over time, as he predicts that one-day blockchain and crypto will represent the 12th sector of the S&P 500. He also added personally that his crypto portfolio has taken over his gold portfolio.

Other articles from – –

Ocean Edge Resort and Golf Club Beach Bar
Beautiful sunset at the Ocean Edge Resort and Golf Club Beach Bar

Cape Cod Lifestyle at the Ocean Edge Resort and Golf Club

Caerula Mar Club a new standard in paradise – South Andros Bahamas


Hottest bikini’s for 2022

Is it possible to get an A for a 5-paragraph essay assignment in 1 hour? We can safely say yes, a student can get an A+ mark if he turns to EduJungles

best Canadian Sportsbook

How to choose the best Canadian Sportsbook

The way we work, live, and play have all been impacted by the rapid advancement of technology, which is really making leaps and bounds. This is especially true for the business of odds shopping, which includes both brick-and-mortar wagering and internet gambling. Over the course of more than two decades, Canada Sports Gambling has excelled

Personal chef

here are some reasons why you should hire a personal chef

Are you tired of eating the same old thing? Do you feel like you’re in a cooking rut? If so, it might be time to consider hiring a personal chef. Personal chefs can help you create delicious, nutritious meals that are tailored to your specific dietary needs. They can also help you save time and

Bets online

How sports enthusiasts can safely place their bets online

It appears to be like sports betting is no longer in the shadows and has finally found a way to be in the spotlight. That’s precisely one of the reasons why the sports betting industry is one of the leaders when it comes to the gambling industry. And since sports betting has become legal in

Timeshare subscription

7 ways to cancel out your Timeshare subscription

Although customer knowledge of shady departure organizations as well as the difficulties involved in leaving a timeshare have increased recently, professionals claim timeshare participation is still widespread. The epidemic might well have caused current proprietors to reevaluate their desire for timeshares. More individuals now desire to leave their timeshares as a result of the outbreak.

Exterior Doors

Types of Exterior doors

The exterior doors are the first thing people see before they get to the inside of your home. For this reason, it is best to take your time before choosing the type of door to install in your home. The most important factor is the functionality of the door, but the door should also be

relief arthritis pain naturally

Ways to get relief arthritis pain naturally

Natural Relief for Arthritic Pain Arthritic pain can feel unbearable. If you’re an arthritis sufferer, however, sweet relief is waiting for you. These natural treatment options can do so much for people who want to eliminate or at least minimize unpleasant arthritic pains and aches. Chiropractic Care Chiropractic for pain treatment can be a game

Mtltimes Subscription

The latest on what’s moving Montreal and the world – delivered straight to your inbox