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Jafrin Ahmed
Apr 19, 2022
by Jafrin Ahmed

Kevin O’Leary-Backed WonderFi to Acquire Coinberry Crypto Exchange for $38M

WonderFi Coinberry
Kevin O’Leary-backed DeFi platform WonderFi plans to acquire Canadian-based regulated cryptocurrency exchange Coinberry for $38 million. Should the deal go through, the platform will be the second regulated crypto exchange under WonderFi.

As part of the deal, WonderFi will also acquire Coinberry’s 220,000-plus customers, giving the combined firm a community of more than 750,000 users. Founded in 2017, Coinberry has processed over $1 billion in transactions to date.

The agreement was announced on Monday, less than a month after WonderFi closed its deal with Toronto-based crypto exchange Bitbuy Technologies Inc. for $206-million in cash and shares.

The firm also recently closed its acquisition of Bitbuy's parent company First Ledger Corp. for $162 million. In an interview, Kevin O’Leary mentioned that there will be “several more and even bigger” acquisitions on the way.

WonderFi says its acquisition of Bitbuy and Coinberry is geared towards consolidating Canada’s crypto trading platforms against unregulated entities like FTX and Coinbase.

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Kevin O’Leary-Backed WonderFi to Acquire Coinberry Crypto Exchange for $38M
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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