WonderFi Purchases Bitbuy Exchange for $162M

• WonderFi Technologies Inc. has announced that they will be purchasing the Canadian cryptocurrency exchange Bitbuy for $161.8 million in cash and shares.

• WonderFi is a popular decentralized financial (DeFi) tech company that is backed by Kevin O’Leary “Mr. Wonderful” and FTX founder Sam Bankman-Fried.

• The acquisition of Bitbuy will give WonderFi one of Canada’s fastest growing crypto exchanges that currently has over 375,000 registered users.

• WonderFi CEO Ben Samaroo commented on the merger, stating that “a licensed marketplace serves as a crucial gateway to the digital asset economy, and facilitates a robust end-to-end, unified client experience. The integration of Bitbuy’s product suite will accelerate and expand the reach and scope that WonderFi can offer to the market, and will drive long-term growth and value.”