Blockchain
Wellfield Reports Financial Results for the Third Quarter Ended September 30, 2022
- Wellfield generated Revenue of $19.3 million in Q3 2022.
- Growth has continued into Q4 2022 – as previously disclosed, for the first half of Q4 2022, the Company generated $15 million in preliminary unaudited revenue1.
- Wellfield is on track to continue growing revenue through 2023, driven by user acquisition, enhanced monetization of its over 3.5 million registered users, the growth of Wellfield Capital – the Company’s recently introduced institutional platform – and the launch of its proprietary blockchain protocols.
Toronto, Ontario–(Newsfile Corp. – November 29, 2022) – Wellfield Technologies, Inc. (TSXV: WFLD) (FSE: K8D) (the “Company” or “Wellfield“), today reported financial results for the quarter ended September 30, 2022. All currency references used in this news release are in Canadian dollars ($) unless otherwise noted.
Financial Highlights
- Revenue of $19.3 million in Q3 2022, compared to revenue of $5.7 million in Q2 2022, and nil revenue in each of Q3 2021 and Q1 2022.
- Net loss of $28.9 million in Q3 2022 (includes a non-cash intangible asset and goodwill impairment of $24.1 million), compared to a net loss of $3.8 million in Q2 2022, $1.0 million in Q3 2021, and $4.7 million in Q1 2022.
Recent Operating Developments
- Coinmama is making progress on monetization efforts aimed at expanding its registered user base and promoting engagement to increase revenue. These initiatives include targeted growth campaigns, operational and product improvements, educational content to increase conversion and retention, and support for additional cryptocurrencies. Early indications are positive with the registered user base continuing to grow month-over-month, adding to the 3.5 million registered users that existed at the time of Coinmama’s acquisition by Wellfield.
- Introduced the Coinmama financial app, which represents Coinmama’s first step towards a transformation into a mobile-first platform that leverages Wellfield’s unique decentralized services to give consumers a blockchain-powered alternative to centralized financial service providers and cryptocurrency exchanges.
- Launched Wellfield Capital, a business focused on institutional and professional investors. Over the next several quarters, Wellfield Capital will be introducing new products and services designed specifically for this community, including unique services that leverage Wellfield’s decentralized blockchain technology.
Management Commentary
Levy Cohen, CEO of Wellfield commented, “During Q3, our team’s efforts translated into solid revenue in the context of lower overall revenues across the crypto space. Growth has continued into Q4, with preliminary unaudited revenue of $15 million in the first half of the quarter1, driven by both results at Coinmama and Wellfield Capital. We expect the results of our ongoing marketing efforts along with the launch of enhanced feature sets for both individual and institutional users, to translate into further revenue growth through 2023. In addition, we anticipate that recent market events will catalyze an accelerated shift of meaningful global crypto trading volume from centralized exchanges onto self-custody solutions like Coinmama and decentralized services from Wellfield Capital.”
About Wellfield Technologies (TSXV: WFLD) (FSE: K8D)
Wellfield is an R&D focused Fintech company that operates on public blockchains including Bitcoin and Ethereum. The Company operates a regulated platform that onboards customers globally at scale, leveraging its proprietary decentralized technology to offer highly disruptive on-chain self-custody solutions. Wellfield operates through two subsidiaries: Coinmama, which with a growing base of more than 3.5 million registered users, is one of the most trusted and enduring global brands operating in the crypto space; and Wellfield Capital, which the Company established in late 2022 to meet the needs of institutional users and professional investors.
Join Wellfield’s digital community on LinkedIn and Twitter, and for more details, visit wellfield.io
For further information contact:
Wellfield Technologies Inc.
Levy Cohen, CEO
[email protected]
Jonathan Ross, Investor Relations
[email protected]
(416) 283-0178
Cautionary Notice on Forward-Looking Statements
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the Company’s success in launching the protocols and other technologies and utilities discussed herein. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; the impact of COVID-19; the decentralized finance industry generally, in Canada and abroad; and general business, economic, competitive, political and social uncertainties. Readers are cautioned that the foregoing list is not exhaustive and readers are encouraged to review the listing application prepared in accordance with the policies of the TSXV and other disclosure documents accessible on the Company’s SEDAR profile at www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Wellfield Technologies Inc.
1 From October 1st to November 13th.
Blockchain
Blocks & Headlines: Today in Blockchain – May 28, 2025 (Angermayer, Soneium, ASIC, Guo, DMG)

Blockchain technology and cryptocurrencies continue to evolve at breakneck speed, driving new partnerships, regulatory battles, service launches, and environmental innovations. Today’s briefing highlights five pivotal developments:
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Christian Angermayer’s investment in Uranium Digital, signaling a shift toward tokenized commodities.
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Sony’s Soneium launch, embedding Web3 into entertainment via a layer-2 blockchain.
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ASIC’s lawsuit against a former Blockchain Global exec, underscoring regulatory scrutiny over exchange failures.
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Cointelegraph’s coverage of civil proceedings against Liang “Allan” Guo, reinforcing Australia’s hard line on director accountability.
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DMG Blockchain’s carbon-neutral Bitcoin transactions, blending green initiatives with custody services.
We’ll unpack each story with concise coverage, opinion-driven commentary, and “Source” attributions—arming you with context and SEO-rich keywords like blockchain, cryptocurrency, Web3, DeFi, and NFTs.
1. Christian Angermayer Backs Uranium Digital’s Tokenized Commodities
Summary: Christian Angermayer, the German biotech billionaire and prominent crypto investor, has joined Uranium Digital as a strategic investor and advisor—aiming to bring uranium trading onto blockchain rails and open commodities markets to tokenized liquidity .
Analysis & Commentary:
Angermayer’s move represents a pivotal moment for asset tokenization, blending commodity markets with DeFi liquidity. By leveraging blockchain’s transparency and fractional ownership, Uranium Digital could democratize access to a market historically reserved for large institutional players. However, regulatory frameworks for nuclear materials are stringent—navigating cross-border compliance will be as critical as the technical on-chain architecture. This partnership may set a precedent for other “hard asset” tokenization ventures seeking both capital and credibility.
Source: Fortune/Yahoo Finance
2. Sony’s Soneium: A Layer-2 Web3 Revolution for Entertainment
Summary: Sony’s new layer-2 blockchain, Soneium, launched in January 2025 to facilitate fast, low-cost transactions for gaming, NFTs, and creator economies. Built on Ethereum’s OP Stack, it has processed over 70 million transactions and hosts 62 dApps, including partnerships with Bandai Namco and Gaudiy.
Analysis & Commentary:
With Soneium, Sony is not just experimenting with blockchain; it’s reimagining digital ownership in entertainment. By targeting high-volume use cases—gaming items, fan tokens, event ticketing—Sony leverages its brand authority to accelerate Web3 adoption. Yet mainstream uptake hinges on seamless user experiences: integrated wallets, intuitive NFT management, and clear value for collectors. If Sony can mask blockchain’s complexity behind familiar interfaces, Soneium could become the template for corporate-led Web3 platforms.
Source: CCN
3. ASIC Sues Former Blockchain Global Exec Over $20M in Claims
Summary: The Australian Securities and Investments Commission (ASIC) filed civil proceedings against former Blockchain Global director Liang “Allan” Guo for allegedly misusing over A$20 million of ACX Exchange customer funds and breaching directors’ duties.
Analysis & Commentary:
This lawsuit highlights the regulatory imperative to protect retail crypto investors. As exchanges fail, the lack of segregated custodial accounts leaves users exposed to directors’ mismanagement. ASIC’s aggressive stance sends a clear signal: exchange governance and financial controls are non-negotiable. Blockchain firms must prioritize transparent accounting, regular audits, and robust compliance frameworks—or risk severe legal consequences.
Source: Decrypt
4. Australian Regulator Takes Guo to Court: Cointelegraph’s Perspective
Summary: Cointelegraph reports ASIC’s civil case against Allan Guo, focusing on alleged false statements and improper fund co-mingling at ACX Exchange, which left over A$22.7 million in creditor claims.
Analysis & Commentary:
Cointelegraph’s coverage underscores a broader trend: jurisdictional enforcement is catching up with crypto’s borderless nature. By spotlighting both Guo’s departure from Australia and the court’s pursuit, the story reinforces that geographical escape won’t shield executives from liability. Going forward, global crypto platforms must embed compliance in governance structures rather than treating it as an afterthought.
Source: Cointelegraph
5. DMG Blockchain Enables Carbon-Neutral Bitcoin Transactions
Summary: DMG Blockchain Solutions, via its subsidiary Systemic Trust Company and Terra Pool, now offers regulatory-compliant, carbon-neutral Bitcoin transactions using Fireblocks custody infrastructure and green energy-backed mining pools.
Analysis & Commentary:
By integrating carbon-neutral protocols into custody and settlement, DMG addresses the sustainability critique of Bitcoin. Financial institutions increasingly demand ESG-aligned crypto services; DMG’s offering could capture that market. The challenge lies in quantifying and auditing green claims, ensuring the offset mechanisms are transparent and verifiable. If DMG nails this, carbon-neutral Bitcoin may shift from niche demand to mainstream expectation.
Source: GlobeNewswire
Conclusion
Today’s stories illustrate how blockchain’s frontiers—from tokenized commodities and corporate Web3 platforms to regulatory crackdowns and green coin initiatives—are rapidly expanding. Key takeaways:
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Tokenization’s next wave: Hard assets like uranium may redefine DeFi’s scope.
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Enterprise blockchains: Sony’s Soneium could blueprint corporate-run layer-2 networks.
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Regulatory rigor: ASIC’s actions against Guo reinforce that compliance and fund segregation are mandatory.
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Sustainable crypto: Carbon neutrality in Bitcoin transactions is evolving from buzzword to business imperative.
Stay tuned for tomorrow’s Blocks & Headlines, where we’ll bring you the latest strategic partnerships, technological breakthroughs, and policy updates driving the blockchain revolution.
The post Blocks & Headlines: Today in Blockchain – May 28, 2025 (Angermayer, Soneium, ASIC, Guo, DMG) appeared first on News, Events, Advertising Options.
Blockchain
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