WonderFi Provides Update After Historic Bitcoin ETF Week & Upcoming Investor Conferences

Rhea-AI Summary

WonderFi Technologies Inc. provides an update on key performance indicators following a historic week for the digital asset industry. The company's trading platforms, Bitbuy and Coinsquare, saw significant increases in trading volumes, user activity, and staking activity. Additionally, WonderFi will be participating in upcoming investor conferences and appearances.

Toronto, Ontario--(Newsfile Corp. - January 16, 2024) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (the "Company" or "WonderFi"), operator of regulated Canadian crypto trading platforms, and other digital asset businesses, today provides an update on key performance indicators following a historic week for the digital asset industry, as well as upcoming appearances. All financial references are in Canadian dollars unless otherwise noted.

This news release constitutes "a designated news release" for the purposes of the Company's prospectus supplement dated December 23, 2022, to its short form base shelf prospectus dated September 7, 2022.

On January 10^th, eleven US spot Bitcoin ETFs were approved, a monumental event for the industry that saw Bitcoin reach an almost two-year high of USD $48,950.

WonderFi's trading platforms, Coinsquare and Bitbuy, saw significant increases in key performance indicators during the week of January 8^th, including:

• Increased Trading Volumes: Bitbuy and Coinsquare saw a 73% increase in retail trading volumes and 43% increase in OTC volumes compared to the weekly averages in Q4, representing over $97M in total trading volume.

• User Activity and Account Sign-ups: Weekly active users on the trading platforms increased 9% and KYC-Verified user sign-ups increased by 19% compared to Q4 weekly averages. The average total dollar value of retail trades processed increased by over 80%, as compared to the Q4 weekly average.

• Staking Activity: The total number of new Bitbuy users staking increased by 33% during the last week compared to Q4 weekly average. Bitbuy continues to be the leader in Canada for regulated staking with over 7 proof-of-stake assets available on the platform.

WonderFi will be participating in the following upcoming investor conferences and appearances:

• CEM 10^th Annual AlphaNorth Capital Event - This event introduces growth-stage companies to active top-level capital markets participants from across the world, from January 19-21^st.

• Lytham Partners Investor Select Conference - This event creates value for growth-stage companies through connections to over 1,000 high-quality institutional investors including 1x1 meetings, and webcast presentations. WonderFi President and Chief Executive Officer Dean Skurka will be presenting on February 1^st.

• Dean Skurka will be appearing live on YouTube streaming shows Benzinga All Access, and Trader TV Live on Wednesday, January 17^th.

ABOUT WONDERFI

WonderFi owns and operates leading digital asset businesses in Canada. WonderFi is the holding company for Bitbuy and Coinsquare, two of Canada's largest regulated crypto trading platforms and SmartPay, a crypto payments processing platform.

With a collective user base of over 1.6 Million registered Canadians and a combined assets under custody exceeding $1 Billion, WonderFi serves one of the largest crypto investor communities in Canada.

For more information, visit www.wonder.fi.
 

Additional Information

For additional information, please contact:

Media / Investor Relations
Charlie Aikenhead
Invest@wonder.fi

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" and "forward-looking statements" 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 beliefs of WonderFi Technologies Inc. ("WonderFi" or the "Company") 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", "planned", "estimated", "soon", "potential", "anticipate" or variations of such words.

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, each of which may be subject to market conditions and regulatory or other approvals which may be required in connection therewith: the inability to maintain current levels of user growth due to competition and cyclical market conditions; the inability of the Company to work effectively with strategic investors and partners, and any changes to key personnel; security and cybersecurity threats and hacks; internet and power disruptions; uncertainty about the acceptance or widespread use of digital assets; failure to anticipate technology innovations; and material adverse changes in general economic, business and political conditions, including changes in the financial markets and compliance with extensive government regulation. These risks are not intended to represent a complete list of the factors that could affect the Company. A more fulsome description of risk factors that may impact business, financial condition and results of operation with respect to WonderFi is set out in its management's discussion and analysis and financial statements for the period ended March 31, 2023, as well as its annual information form and the joint management circular of WonderFi, Coinsquare and CoinSmart in respect of the Acquisition, available on its SEDAR+ profile at https://www.sedarplus.ca.

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.

The company has provided an updated outlook for the purpose of presenting information about current expectations for the periods presented. This information may not be appropriate for other purposes. You are cautioned not to place undue reliance on forward-looking statements which reflect expectations only as of the date of this news release.

The Toronto Stock Exchange has not approved or disapproved of the information contained in this release. Except as may be required by applicable law, WonderFi disclaims any obligation to update or revise any forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194365

FAQ

What is the ticker symbol for WonderFi Technologies Inc.?

The ticker symbol for WonderFi Technologies Inc. is 'WONDF'.

What were the key performance indicators for Bitbuy and Coinsquare during the week of January 8th?

Bitbuy and Coinsquare saw a 73% increase in retail trading volumes and 43% increase in OTC volumes compared to the weekly averages in Q4, representing over $97M in total trading volume.

What upcoming investor conferences and appearances will WonderFi be participating in?

WonderFi will be participating in the CEM 10th Annual AlphaNorth Capital Event from January 19-21st and the Lytham Partners Investor Select Conference, with WonderFi President and CEO Dean Skurka presenting on February 1st.

Who will be appearing live on YouTube streaming shows Benzinga All Access and Trader TV Live?

WonderFi President and CEO Dean Skurka will be appearing live on YouTube streaming shows Benzinga All Access and Trader TV Live on Wednesday, January 17th.