WonderFi generates $8.8M in Solana investments, while Coinsquare launches long-anticipated crypto staking

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The successful investment generated 61,720 unrestricted Solanas and realized a gain of $6.7 million recognized in the fourth quarter of 2023.

Coinsquare currently offers staking for Ethereum, Solana, Cardano, and four other major proof-of-stake cryptocurrencies, and in 2022 will offer staking on Bitbuy, WonderFi’s other registered cryptocurrency trading platform. Following the success of staking.

TORONTO, ON — (Newsfile Corp. – February 26, 2024) – WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (the “Company” or “WonderFi”) is a regulated cryptocurrency trading company. platform and a leading operator in Canada. In other digital asset businesses, we are pleased to announce that we have generated net proceeds of 61,720 Unlimited Solana in connection with certain investments. Meanwhile, its subsidiary Coinsquare has launched a large-scale offering of cryptocurrency staking services in Canada, recording over $3.5 million in staking in the first few days of its launch.

This news release constitutes a “designated news release” as a supplement to our prospectus dated December 23, 2022 to our abbreviated base prospectus dated September 7, 2022.

Solana is a Proof-of-Stake Layer 1 protocol focused on fast payments, creating an incredibly fast and cheap alternative to other Layer 1 protocols, including Ethereum. A strong infrastructure and effective go-to-market strategy have enabled Solana to rise to his fifth largest cryptocurrency by market capitalization.

Our investment in Solana and the launch of staking on Coinsquare both serve as examples of the many ways we create shareholder value through continued investment across the digital asset industry. WonderFi expects him to receive an additional distribution of over $1 million in March in connection with the same investment.

Crypto staking, a process that allows users to earn rewards by actively participating in validating a blockchain network, has gained significant attention as a popular way for crypto investors to generate passive rewards.

“We are very excited to be one of only four registered platforms where Canadians can earn staking rewards on their crypto assets,” said Coinsquare President Christopher Pollock. It’s an important and unique part, and millions of people are using it successfully.” We are excited that crypto investors around the world, and our more than 600,000 users, can now earn crypto rewards passively in conjunction with their core investments. WonderFi plans to stake her Solana from its successful investment in Coinsquare as a vote of confidence in its staking product. ”

Coinsquare’s staking products have variable staking reward rates of up to 11.23% and the largest selection of stakeable assets for CIRO dealer members, including Ethereum, Solana, and Cardano. Coinsquare users can now log into their accounts and begin the process of staking their assets.

Prominent investor Kevin O’Leary said, “My investment thesis in owning WonderFi is that cryptocurrencies and digital payment systems will continue to gain market share in Canada’s financial services sector, and I am “They want equity exposure to the regulatory infrastructure that supports them. I will continue to do so.” I am an avid shareholder in WonderFi, as the company has emerged as a leader in Canada now that all the crypto cowboys have been regulated or killed off by lawsuits. ”

To learn more about Coinsquare’s staking services, please visit Coinsquare.com/saking.

About Wonderfy

WonderFi owns and operates a leading digital asset business in Canada. WonderFi is the holding company for Bitbuy and Coinsquare, Canada’s largest regulated cryptocurrency trading platforms, and SmartPay, a cryptocurrency payment processing platform.

With a user base of over 1.6 million registered Canadians and over $1 billion in total assets under custody, WonderFi serves one of the largest communities of crypto investors in Canada.

For more information, please visit www.wonder.fi.

Additional Information

For more information, please contact us below.

Media/Investor Information
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 laws and within the meaning of the safe harbor provisions of Canadian securities laws. It may also include statements that may constitute “forward-looking statements” within the scope of the. U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements do not represent historical facts, information or current conditions and represent only the beliefs of WonderFi Technologies Inc. (“WonderFi” or “”) is. Our Company’s statements regarding future events, plans or objectives, many of which are inherently uncertain and beyond our control. Generally, such forward-looking information or forward-looking statements include words such as “may”, “intends”, “expects”, “believes”, “will”, “anticipates”, ” You can identify them by the use of forward-looking terminology, such as “planned.” “”, “estimated”, “soon”, “possible”, “anticipated”, or variations of such words.

Additionally, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Key factors that could cause actual results to differ materially from those anticipated in forward-looking information and statements include: the Company’s inability to achieve anticipated growth targets with respect to his Coinsquare staking products; market conditions and any regulatory or other approvals that may be required in connection therewith; competition and cyclical market conditions make it impossible to maintain current levels of user growth; the Company’s inability to realize expected future distributions from its investments; It also includes material adverse effects on general economic, business and political conditions, such as changes in financial markets and compliance with extensive government regulations. These risks are not intended to represent a complete list of factors that may affect us.

Although the Company believes that the assumptions and factors used in, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements; We cannot give such guarantees. Such forward-looking information and statements may 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 intend to update any forward-looking information and/or forward-looking statements contained herein. No obligation. However, they are referenced herein except in accordance with applicable securities laws.

The Company has provided updated outlooks for the purpose of providing information regarding current expectations for the periods presented. This information may not be suitable 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 neither approved nor disapproved the information contained in this release. WonderFi undertakes no obligation to update or revise any forward-looking statements, except as required by applicable law.