- Reports sharp spikes across trading volume and revenue, transacting user count and weekly signups across owned and operated platforms Bitbuy and Coinsquare
- Reports total assets under custody of $1.7 billion, up 34 percent since end of September
Toronto, Ontario--(Newsfile Corp. - November 12, 2024) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (the "Company" or "WonderFi"), a global leader in centralized and decentralized financial services and products, today announced record weekly trading activity across both of the regulated cryptocurrency trading platforms it owns and operates.
"While we recognize that seven days does not make for a long-term trend, we've seen a sharp increase in trading activity across our platforms over the past week, reflecting a renewed excitement around crypto following the U.S. Presidential election," said WonderFi President and CEO Dean Skurka. "We are pleased to offer investors a secure and regulated set of products and services to enable them to take full advantage of global cryptocurrency markets, whether on desktop or mobile."
Benchmark cryptocurrencies have performed strongly in recent days, with the price of Bitcoin surging to a record high following the U.S. election, amid investor expectations that the incoming Trump administration will implement a favourable regulatory framework for digital currencies.
WonderFi is the largest regulated crypto trading platform in Canada, operating through its two wholly owned brands, Bitbuy and Coinsquare.
At Bitbuy, retail trading volume and revenue for the week from Nov. 4 to Nov. 10, 2024 rose 82 percent and 111 percent, respectively, compared to the weekly average for Q3 of calendar 2024. At Coinsquare, retail trading volume and revenue for the same period was up 86 percent and 169 percent, respectively, for the same period compared to the Q3 weekly average.
Bitbuy's transaction value for the week was $26.97 million, while Coinsquare transacted $39.1 million.
Bitbuy also saw a 90 percent jump in transacting user count and an 84 percent increase in weekly signups over the Q3 weekly average. At Coinsquare, transacting user count spiked 123 percent and weekly signups were up 254 percent over the Q3 weekly average.
WonderFi's total assets under custody have also increased by 34 percent since the end of September, and currently stand at approximately $1.7 billion.
Mr. Skurka added: "We're excited about the growth of the crypto industry and plan to continue to diversify our offering, launch new products to ensure we remain at the forefront of industry innovation for the benefit of our users."
ABOUT WONDERFI
WonderFi is the largest regulated crypto trading platform in Canada and a global leader in centralized and decentralized financial services and products.
With over $1.275B in assets under custody, WonderFi is well-positioned to service crypto participants on a global scale with trading, payments and decentralized products, including purpose-built blockchains and non-custodial wallet applications.
Designed to provide investors with diversified investment exposure across the global digital asset ecosystem, the Company has a proven track record of launching new products and obtaining applicable licenses. It is also the owner of market-leading brands, including Bitbuy, Coinsquare, SmartPay and Tetra Trust.
As the world continues to move on-chain, WonderFi is strategically placed to capture both market and wallet share through ongoing innovation within the digital asset space.
For more information, visit www.wonder.fi.
For additional information, please contact:
Investor Relations
Charlie Aikenhead
WonderFi
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.
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: taxation, controls or regulations and/or changes in the administration of laws, policies and practices and political or economic developments in Canada and other jurisdictions in which the Company carries on business or in which the Company may carry on business in the future; and material adverse changes in general economic, business and political conditions, including changes in the financial markets and compliance with extensive government regulation, decisions to modify, pause or discontinue certain treasury management strategies. These risks are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. 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. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and the Company's future decisions and actions will depend on management's assessment of all information at the relevant time. 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 September 30, 2024, available on its SEDAR+ profile at 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. 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. All financial amounts referenced herein are in Canadian dollars unless otherwise expressly identified.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229616
SOURCE: WonderFi Technologies Inc.
