ICYMI: Why DeFi platform WonderFi is acquiring crypto exchange Bitbuy
Kevin O’Leary-backed WonderFi will acquire Bitbuy for $206 million CAD in cash and shares.
The deal establishes WonderFi, backed by venture capitalist Kevin O’Leary, as Canada’s largest publicly traded end-to-end consumer platform for crypto and DeFi. It's also a bet on the regulatory environment in Canada — and reflects a global strategy of seeking out crypto-friendly regulators, according to O'Leary.
WonderFi plans to grow globally in jurisdictions with similarly"progressive" regulations while waiting out the regulators in the US, said O’Leary."There are different jurisdictions and different geographies that are far more progressive and they can offer their products and services," he said.
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