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WonderFi Announces Q3 2022 Financial Results

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Successfully Integrates Bitbuy Acquisition, Acquires Coinberry and Lists on the Toronto Stock Exchange

Vancouver, British Columbia–(Newsfile Corp. – August 15, 2022) – WonderFi Technologies Inc. (TSX: WNDR) (OTC Pink: WONDF) (WKN: A3C166) (FTX: WNDR) (the “Company” or “WonderFi“) today announced its third quarter 2022 financial results for the period ended June 30, 2022. All financial references are in Canadian dollars unless otherwise noted.

Financial Highlights:

  • Bitbuy Technologies Inc. (together with its affiliates, “Bitbuy“) full quarter included in the Company’s consolidated results for the first time
  • $356 million in total assets as of June 30, 2022, including $15 million in cash and $5.6 million in crypto assets and inventory, as well as $187 million of Assets Under Custody for customers

Operating Highlights:

  • Continuing to optimize Bitbuy operations including strategic alignment of technology and resources
  • Signed definitive agreement to acquire Coinberry Limited (“Coinberry“) on April 17, 2022, one of Canada’s leading crypto trading platforms with over $1 billion transacted to date
  • Listed on the Toronto Stock Exchange alongside other industry leaders including Galaxy Digital and Hut 8
  • Appointed former Royal Bank of Canada Director and Senior Counsel Adam Garetson as General Counsel and Chief Legal Officer of WonderFi
  • Appointed former Bank of Montreal executive Torstein Braaten as the Chief Compliance Officer of WonderFi

Subsequent to June 30, 2022:

  • Closed the acquisition of Coinberry on July 4, 2022
  • Partnered with Meta Venture Capital Partnerships for strategic advice on growth marketing and scale of WonderFi’s business
  • Initiated international expansion strategy of Bitbuy into multiple jurisdictions including in the United States, the United Kingdom and Australia
  • Commenced execution of strategic alignment of resources and cost reductions across all divisions, which is expected to result in approximately 30% run-rate operating cost reductions
  • WonderFi is now the only company operating a crypto trading platform publicly traded on the TSX

Crypto Liquidity Crisis:

  • The third quarter saw several major crypto trading platforms face liquidity issues due to excess use of leverage, which has resulted in several platforms ceasing operations and filing for bankruptcy
  • WonderFi, Bitbuy and Coinberry do not offer, use, or in any way access leverage and never lend out client assets. WonderFi remains committed to investing in providing clients with regulated access to crypto
  • As a requirement of its regulatory licenses, Bitbuy and Coinberry holds all customer assets with licensed custodians in a secure and insured environment

“WonderFi continued to make significant steps in our path to becoming a global leader in crypto in the third quarter. We completed our Toronto Stock Exchange listing and closed acquisition of Coinberry following quarter-end. We remain focused on integrating all of our newly acquired businesses, continuing our user acquisition growth and unlocking the significant sales and cost synergy opportunities available,” said Ben Samaroo, CEO of WonderFi.

“In addition, we have established the resilience of our business in a down market, amidst the collapse of several global crypto trading platforms. We believe our commitment to regulation and compliance will continue to serve our users and investors going forward,” added Samaroo.

Summary of Financial Results for the Quarter ended June 30, 2022

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Revenues were $2.9 million and $3.2 million for the three and nine months ended June 30, 2022, compared to $nil for the same three and nine month ended period in 2021. The increase in revenue was due to the acquisition of Bitbuy and represents the activity of Bitbuy from March 25, 2022, to June 30, 2022.

The Company’s operating expenses were $13.3 million and $33.8 million for the three and nine months ended June 30, 2022, respectively, compared to $705K and $1.1 million for the three and nine months ended June 30, 2021.

Of the total operating expenses, Bitbuy’s expenses were $5.6 million for the three months ended June 30, 2022, which primarily consisted of $2.0 million salaries and wages, $1.1 million marketing, and $0.8 million professional fees.

The remainder of operating expenses, excluding Bitbuy, were $7.6 million for the three months ended June 30, 2022. The largest operating expenses were $2.2 million non-cash share-based payments related to the issuance of stock options and RSUs to employees, directors and external consultants, $2.3 million amortization of acquired intangible assets from Bitbuy, $0.9 million salaries and wages, and $0.7 million professional fees and consulting.

Access to Financial Statements and Management Discussion and Analysis

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Complete financial statements along with related management discussion and analysis can be found in the System for Electronic Document Analysis and Retrieval (“SEDAR“), the electronic filing system for the disclosure documents of issuers across Canada at www.SEDAR.com.

Update to AGM Materials

On August 9, 2022 WonderFi filed its annual general meeting (AGM) materials on SEDAR. The Company wishes to provide shareholders an update to its disclosure on page 35 of its management information circular (“Circular“), specifically to the section entitled: Burn Rate. The amended information is as follows (capitalized terms have the meanings ascribed thereto in the Circular):

Burn Rate

The following table sets out the burn rate of securities for the last financial year of the Company:

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Year Securities Granted Pursuant to the Plan


A

Weighted Average Number of Common Shares Outstanding


B

Burn Rate1

A/B

2021 2,159,715 + 1,730,0001 34,467,5162 0.11
2020 1,300,0003 13,737,580 0.09
2019 1,300,0004 10,384,155 0.13

 

Notes:

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  1. During fiscal year 2021, 2,460,000 options, and 1,730,000 RSUs were granted pursuant to the Plan; 14,169 Options have been exercised and 286,116 Options were cancelled.
  2. For the period January 1, 2021 to September 30, 2021
  3. There were no new securities granted pursuant to the Plan during fiscal year 2020. In 2019, 1,300,000 options were granted pursuant to the Plan and remained outstanding.
  4. During fiscal year 2019, 1,300,000 options were granted pursuant to the Plan.

Additional Information
For additional information, please contact:

WonderFi Technologies Inc.
Ben Samaroo, CEO
[email protected]
(778) 843-9637

Investor Relations Contact: [email protected]

Media Contact:
Binu Koshy, Communications Director
[email protected]

ABOUT WONDERFI

WonderFi is a leading technology company with the mission of creating better access to digital assets through compliant centralized and decentralized platforms. WonderFi provides unified access to digital assets including crypto, DeFi, gaming and NFTs, in a compliant and regulated environment. WonderFi’s executive team and Board of Directors have an established track record in finance and crypto, with previous experience at Amazon, Shopify, PayPal, Galaxy Digital and Hut 8. WonderFi’s core team of engineers and technologists believe that everyone should have equal access to finance, and are aligned in the mission to empower people around the world to access finance in a simple, smart and secure way. For more information, visit www.wonder.fi.

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Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, or variations of such words.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability of the Company to work effectively with strategic investors; and changes in general economic, business and political conditions, including changes in the financial markets, changes in applicable laws, and compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein. A more fulsome description of risk factors that may impact our business, financial condition and results of operation is set out in our management’s discussion and analysis and financial statements for the for the period ended June 30, 2022, as well as our annual information form, available on SEDAR.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

The Toronto Stock Exchange has not approved or disapproved of the information contained in this release.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133824

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

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From Onboarding to Settlement in Minutes: TransFi Launches BizPay to Redefine Global Business Payments

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Blocks & Headlines: Today in Blockchain – May 22, 2025

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blocks-&-headlines:-today-in-blockchain-–-may-22,-2025

 

The blockchain universe never sleeps. From pioneering cross-border payment systems in Central America to city-wide crypto strategies in New York City, today’s headlines reveal an industry maturing at breakneck speed. In this edition of Blocks & Headlines, we explore five landmark developments:

  1. Guatemala’s Banco Industrial integrates blockchain for seamless cross-border remittances.

  2. NYC Mayor’s Office unveils a comprehensive crypto and blockchain roadmap.

  3. OSR Holdings, BCM Europe & Taekwondo Cooperative sign an MOU to launch the OSRH token.

  4. Bybit’s “Chicken Trader” livestream—crypto meets poultry in the world’s first poultry-powered trading showdown.

  5. FIFA taps Avalanche to build a dedicated blockchain for its NFT platform.

These stories underscore three key trends reshaping the ecosystem:

  • Institutional Adoption & Regulation: From national banks to municipal governments, legacy institutions are embracing decentralized technologies.

  • Tokenization & Community Engagement: Strategic partnerships are launching specialized tokens that bridge niche communities with global markets.

  • Innovative Use Cases: Whether gaming, entertainment, or live-stream events, blockchain’s versatility spawns ever-more creative applications.

Join us as we unpack the implications, weigh the opportunities, and forecast where these trajectories might lead.

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1. Guatemala’s Largest Bank Integrates Blockchain for Cross-Border Payments

What Happened
Guatemala’s Banco Industrial, the country’s biggest financial institution, announced the deployment of a private‐permissioned blockchain network to streamline remittances from the U.S. into Guatemala City and beyond. The solution reduces settlement times from days to minutes, cuts fees by up to 60 %, and offers real-time traceability for senders and receivers.
Source: Cointelegraph

Analysis & Commentary

  • Financial Inclusion Boost: Remittances account for over 12 % of Guatemala’s GDP. By minimizing friction and cost, blockchain integration will extend financial services to remote communities reliant on diaspora funds.

  • Risk & Compliance: Permissioned networks allow Banco Industrial to retain AML/KYC controls, mitigating concerns around illicit flows. This hybrid approach demonstrates that enterprise blockchain can balance decentralization with regulatory rigor.

  • Regional Ripple Effects: Neighboring Central American banks are watching closely. Should Guatemala’s pilot succeed, we can expect a domino effect across El Salvador, Honduras, and Costa Rica—each seeking to capitalize on faster, cheaper cross-border rails.

Implications
Legacy banks worldwide should view this as a blueprint: private blockchains can coexist with existing compliance frameworks while delivering transformative user benefits. Early movers will capture remittance market share and cultivate fintech partnerships across the Latin American corridor.


2. NYC Mayor Unveils Ambitious Crypto & Blockchain Agenda

What Happened
New York City Mayor Eric Adams detailed his administration’s multi-pronged strategy to make NYC a global crypto hub. Key initiatives include:

  • A regulatory sandbox for crypto startups to pilot DeFi, NFTs, and token-based fundraising under city supervision.

  • Partnerships with CUNY and Columbia University for blockchain research and talent development.

  • Deployment of a blockchain-based public record system for land titles and business registrations.
    Source: GovTech

Analysis & Commentary

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  • Regulatory Harmony vs. Overreach: By offering a controlled sandbox rather than blanket deregulation, NYC signals a nuanced stance—encouraging innovation without sacrificing consumer protection.

  • Talent Pipeline: Academic partnerships aim to remedy the talent shortage plaguing blockchain firms. Local graduates trained in distributed ledger technologies (DLT) will feed startups, financial institutions, and government agencies.

  • Public Services on Chain: Land registries and business filings on blockchain promise greater transparency and fraud reduction. If scaled effectively, NYC could set a global standard for government-blockchain integration.

Implications
Other major cities—London, Singapore, Dubai—will feel pressure to match NYC’s playbook. Municipal leaders should prioritize sandbox frameworks and academia-industry liaisons to nurture homegrown crypto ecosystems.


3. OSR Holdings, BCM Europe & Taekwondo Cooperative Launch OSRH Token

What Happened
OSR Holdings, BCM Europe, and the Taekwondo Cooperative signed a strategic Memorandum of Understanding to co-develop the OSRH token, a blockchain-based digital asset aimed at supporting global Taekwondo practitioners. Features include:

  • Membership Rewards: Tokens earned through event participation, coaching certifications, and tournament wins.

  • Decentralized Governance: Athletes vote on sponsorship allocations and rule-change proposals via on-chain ballots.

  • Marketplace Integration: A dedicated NFT marketplace for Taekwondo memorabilia, from digital belts to highlight reels.
    Source: PR Newswire

Analysis & Commentary

  • Niche Tokenization: OSRH token exemplifies the power of community-focused tokens. By aligning incentives with passion points—training, competition, governance—stakeholders gain ownership and engagement.

  • Governance Innovation: Athlete-driven decision-making on sponsorship and funding disrupts top-down federation models. This could democratize sports governance across disciplines.

  • Commercial Ecosystem: The NFT marketplace offers monetization channels for athletes and federations alike. Strategic royalties on secondary sales ensure sustainable funding.

Implications
Other sports federations and niche communities should explore token models that blend rewards, governance, and commerce. Successful launches will hinge on clear utility, user education, and regulatory compliance in key jurisdictions.


4. Bybit Presents “Chicken Trader”: The World’s First Poultry-Powered Trading Showdown

What Happened
Cryptocurrency exchange Bybit debuted “Chicken Trader,” a live-streamed event where two contestants trade crypto pairs—and manage live chickens—to earn “Egg Points.” Viewers can stake on their favorite trader, earning NFTs and token rewards based on performance.
Source: PR Newswire

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Analysis & Commentary

  • Gamification Meets DeFi: Chicken Trader’s fusion of live-stream engagement, staking mechanics, and NFTs exemplifies Web3’s playful ethos—turning trading into interactive entertainment.

  • User Acquisition Strategy: Bybit gamified acquisition funnels, leveraging viral social content to onboard nontraditional crypto audiences intrigued by the novelty factor.

  • Regulatory Tightrope: Combining staking with competition and livestock raises jurisdictional questions around gambling, securities, and animal welfare. Bybit must navigate diverse regulations to scale globally.

Implications
Other exchanges will replicate gamified formats to differentiate UX and grow communities. Yet long-term viability demands balancing flashy live-events with rigorous compliance, sustainable tokenomics, and authentic value for participants.


5. FIFA Taps Avalanche to Power Its NFT Platform

What Happened
Global soccer body FIFA selected the Avalanche blockchain to launch its official NFT marketplace, featuring digital collectibles—from World Cup highlights to player-card packs. Avalanche’s high throughput and low fees were cited as decisive factors.
Source: TradingView (via Cointelegraph)

Analysis & Commentary

  • Scalability & Sustainability: Avalanche’s consensus mechanism delivers sub-second finality and carbon-offset commitments, aligning with FIFA’s environmental pledges.

  • Fan Engagement: Tokenized highlights and limited-edition digital memorabilia expand revenue streams beyond broadcast rights, offering fans verifiable ownership and collectible provenance.

  • Interoperability: Avalanche’s growing DeFi ecosystem enables future integrations—staking fan tokens, launching prediction-market games, or embedding NFT rewards in FIFA’s mobile apps.

Implications
Major sports leagues and entertainment brands eyeing NFT forays will scrutinize Avalanche’s performance under FIFA’s global load. Blockchain platforms must prove they can handle spikes during marquee events—kickoff times, finals, transfer windows—while preserving UX and sustainability goals.

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Conclusion

Today’s Blocks & Headlines illustrate blockchain’s multifaceted evolution:

  • Legacy institutions like banks and city governments are unlocking new efficiencies and transparency through private and public DLT networks.

  • Community-driven tokens are redefining governance and monetization in sports and niche domains.

  • Innovative engagement—from poultry-fueled trading spectacles to global soccer NFTs—demonstrates blockchain’s capacity for gamification, fan loyalty, and novel revenue models.

Yet with opportunity comes responsibility: scalable architectures must coexist with robust compliance; token economies require thoughtful design to sustain value; and regulators, academia, and industry must collaborate to craft frameworks that balance innovation with consumer protection.

As blockchain weaves deeper into finance, governance, entertainment, and sports, stakeholders who embrace strategic partnerships, prioritize user education, and invest in resilient infrastructures will lead the charge into Web3’s next frontier.

The post Blocks & Headlines: Today in Blockchain – May 22, 2025 appeared first on News, Events, Advertising Options.

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Freeman Quantitative Trading(FQAI) 5.0 Is Coming—Ushering in a New Wave of Intelligent Investing

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