Crypto exchange WonderFi, which is backed by crypto investor and billionaire Kevin O’Leary, has confirmed it is in preliminary discussions with fellow Canadian crypto exchange Coinsquare for a possible merger. In a statement on Jan. 12, WonderFi responded to a Bloomberg report suggesting the two exchanges were in "advanced merger talks" to "create a Canadian crypto giant." WonderFi clarified that the discussions were "preliminary" at this stage, adding that it cannot guarantee that an agreement will be reached. "In response to the press speculation, the Company acknowledges that it has held preliminary discussions with various third parties with respect to …

Just a month after becoming the first Canadian crypto trading platform to get registered by the Investment Industry Regulatory Organization of Canada (IIROC), Coinsquare suffered a data breach that compromised users' personal information. On Nov. 19, Coinsquare had to temporarily shut down operations to investigate an unusual activity on its platform. However, several days of proactive measures allowed Coinsquare to resume operations gradually. We will be re-enabling crypto deposits shortly after the maintenance window with crypto withdrawals to follow shortly after. — Coinsquare (@Coinsquare) November 22, 2022 In a follow-up email to investors, Coinsquare admitted that their customer database with …

Coinsquare, the Toronto-based digital currency platform, has announced a new mobile trading application designed to simplify the buying and selling of cryptocurrencies in Canada. Quick Trade was officially unveiled Monday, allowing commission-free transactions of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BTC). A total of 15 trading pairs are available at launch, with “many more digital assets to be onboarded over the coming months,” the company said. The app is available on Android and Apple devices alongside Coinsquare’s existing mobile application, which is an extension of its web-based trading platform. In addition to commission-free trades, the new app …

Coinsquare, a crypto exchange that has been under the scrutiny of Canadian regulators following allegations of wash trading, said it will be adding two new members to its board of directors. In a Nov. 25 announcement, the exchange said Nicholas Thadaney and Wendy Rudd are joining its board. Thadaney was President of the Toronto Stock Exchange and Rudd is currently a board member for the Canadian Regulatory Technology Association. The new appointments follow a major change in leadership mid-year. In July, CEO Cole Diamond and President Virgile Rostand stepped down following an agreement with the Ontario Securities Commission, or OSC, …

In the latest blow to the embattled Canadian cryptocurrency exchange Coinsquare, reports are accusing the platform’s top executive of orchestrating a wash-trading scheme in clear violation of securities law. Wash-trading refers to an exchange artificially inflating its trade volume through executing larger zero-fee market trades into their own orders, creating the appearance of large trading activity without any assets changing hands. The practice is illegal in traditional asset markets due to its propensity for price manipulation. The accusations levied at Coinsquare were reported by Vice on June 13, with the publication claiming to have obtained leaked emails, Slack messages, and …