WonderFi Stocks Jump Over 7% as Company Closes Coinberry Acquisition

 

WonderFi Technologies, a Canadian cryptocurrency firm, said in a press release it has closed the acquisition of Coinberry for $38.3 million. Backed by Kevin O’Leary and FTX Founder Sam Bankman-Fried, WonderFi has become the first Canadian crypto company that operates multiple crypto licenses.

With the acquisition, WonderFi gets an additional 225,000 users and almost $100 million of client assets under custody. Coinberry CEO, Andrei Poliakov, will join WonderFi as Head of Brokerages.

Bitcoin Hodlers Suffer Lack of Financial Literacy, Bank of Canada Says

 

Amid the news, WonderFi stocks (WNDR) jumped on the Toronto Stock Exchange, by over 7.2% to $0.4. WonderFi first announced the acquisition of Coinberry in mid-April, adding that the deal would be stock-only.

Founded in 2017, Coinberry transacted over $1 billion in crypto to date. The exchange currently features 29 of the top cryptocurrency trading pairs and services over 220,000 users, with over $13 million in revenue for the twelve months ended December 31, 2021.

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