• Kevin O’Leary, one of the stars of the hit TV show Shark Tank, is backing Wonderfi, a Canadian crypto exchange that is merging with two other major Canadian exchanges.
• The merger will create the largest crypto trading platform in Canada and has received approval from the Competition Bureau.
• Wonderfi CEO Dean Skurka believes that consolidation and selecting favorable aspects of businesses is the most effective way to progress in the current market environment.
Kevin O’Leary Backs Crypto Merger
Kevin O’Leary, aka Mr. Wonderful and a long-time crypto supporter, is backing Wonderfi, a Canadian exchange that is set to merge with CoinSmart Financial and Coinsquare.
Creating Canada’s Largest Crypto Trading Platform
The merger will create the largest cryptocurrency trading platform in Canada and has been approved by Canada’s Competition Bureau. It is scheduled to be finalized on Monday.
WonderFi Reducing Workforce
As part of the agreement WonderFi will discontinue its CoinSmart platform and reduce its workforce through layoffs.
Cherry-Picking Favorable Aspects Of Businesses
According to WonderFi CEO Dean Skurka, consolidating and selecting favorable aspects of businesses is key for success in this market environment.
Canada Regulations Make Investing In Crypto Easier
O’Leary says that regulatory oversight around the world makes investing in cryptocurrency difficult – except for Canada. He believes these days of ‘rogue’ exchanges are now over. p