WONDERFI TECHNOLOGIES INC - WONDF STOCK NEWS

WonderFi Technologies has launched Coinsquare Alpha, an enhanced institutional crypto service aimed at professional OTC clients managing large crypto portfolios with trading volumes over $1,000,000 CAD per year. The service offers various features including improved trading functionality with fill-or-kill trading in 53 assets and over 1300 trading pairs, 24/7 API connectivity for automated trading execution, non-custodial OTC services for a wider range of digital assets, bespoke custody solutions with multi-signature security, and a transparent asset staking program with competitive fee rebates.

The launch comes at a critical moment for institutional interest in crypto, spurred by the recent success of the US spot Bitcoin ETF. Coinsquare Alpha aims to support the evolving needs of the Canadian institutional crypto market and drive further growth and adoption of digital assets.

WonderFi Technologies announced the successful consolidation of its crypto trading platforms, Bitbuy and Coinsquare, under one regulated Investment Dealer, creating Canada's largest CIRO-regulated crypto trading platform. This move streamlines operations, enhances user experience, and aims for cost synergies and operational efficiencies. With 1.7 million registered users and assets exceeding $1.5 billion, WonderFi's platform now offers features like updated UI, customizable watchlists, automated price alerts, portfolio value charts, seamless Interac e-Transfers, and free crypto withdrawals. Cash balances are covered by CIPF up to $1 million.

Bitbuy clients have been securely migrated with no action required, ensuring a smooth transition with clear communication and support throughout. CEO Dean Skurka highlighted the benefits of enhanced security and material cost savings from this consolidation.

WonderFi Technologies, Canada's key operator of regulated crypto trading platforms, held its 2024 Annual General Meeting (AGM) virtually on May 24, 2024. The company announced that all motions and director nominees set out in their Management Information Circular were overwhelmingly approved by shareholders. A total of 284,464,335 common shares, representing 43% of the company's issued and outstanding shares, participated in the vote. Key director nominees, including Dean Skurka, Robert Halpern, Jaime Leverton, and others, received a high percentage of votes, generally around 96-97% approval. CEO Dean Skurka expressed optimism about the company's future growth and value creation for shareholders.

WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) reported record financial results for Q1 2024, with revenues of $18.5 million, net income of $4.9 million, and positive EBITDA of $7.0 million. The company's cash and digital assets increased to $52.5 million. Key highlights include increased revenues, EBITDA, and net income compared to the previous quarter and significant growth in client assets under custody. WonderFi completed strategic acquisitions, including FX Institution Pty. and the Canadian clients of Bitstamp, aiming for sustainable growth and value creation for shareholders in 2024.

WonderFi Technologies Inc. has entered into a cooperation agreement with KAOS Capital , resulting in changes to its Board of Directors and annual meeting date. The Agreement will see nine director nominees standing for election at the upcoming Annual Meeting on May 24, 2024, with a focus on long-term value creation for shareholders. Additionally, Mogo Inc. has agreed to a managed divestiture program and a modified voting support agreement, aligning with WonderFi's strategy. The Company is optimistic about future growth and profitability opportunities in the crypto and digital assets market.

WonderFi's Bitbuy acquires Bitstamp's Canadian clients, expanding its total client accounts to over 1.75 million Canadians. The acquisition of 110,000+ client accounts includes both retail and institutional clients. WonderFi expects minimal additional operating costs and plans to share revenues from the acquired business.

WonderFi Technologies Inc. appoints Jaime Leverton and Noel Biderman to its Board of Directors, with Bobby Halpern as Chairman. Leverton and Biderman bring extensive experience in technology, crypto, and brand building, enhancing the Board's skill set. The refreshment practices aim to drive shareholder value and ensure compliance with regulators. Leverton's background includes leadership roles at Hut 8 Mining Corp., eStruxture Data Centers, and Cogeco Peer 1, while Biderman's experience spans Avenue Insights, Bitbuy, and Avid Life Media Inc. Halpern, a current Board member, led the private buy-out of Bitbuy. Directors Christopher Marsh and Nicholas Thadaney step down, with Thadaney continuing on the CCML board and as a nominee on Tetra's board. Marsh will also join the CCML board. The Company expresses gratitude for their contributions and looks forward to leveraging Leverton's and Biderman's expertise for future growth.

WonderFi Technologies Inc. provides an update to shareholders regarding the Special Committee investigation into Mogo Inc.'s potential violations of Canadian securities laws and contractual obligations. The investigation focuses on undisclosed voting agreements and potential breaches of the standstill provision of the investor rights agreement. WonderFi is taking steps to uncover the truth behind Mogo's actions.

WonderFi Technologies Inc. announces a normal course issuer bid to repurchase up to 25,126,596 of its common shares, representing approximately 6.6% of the public float, with the belief that it is a beneficial use of available cash.