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WonderFi

WonderFi Co-Founder Secures Funding for AI Startup

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xTAO, a decentralized AI startup founded by WonderFi co-founder Karia Samaroo, has raised $31 million CAD in seed financing through subscription receipts, closing the round via a merger with Adrianna Ventures on July 11. The company also began trading on the TSX Venture Exchange under the symbol XTAO.U on July 22.

Backed by digital-asset investors such as Animoca Brands and Digital Currency Group, xTAO operates atop the Bittensor network—a blockchain marketplace for AI models and compute power. Samaroo called the financing and listing “important milestones” as xTAO aims to democratize machine intelligence outside centralized AI giants.

Want to know more? Check out the source code on BetaKit.

WonderFi’s Messy Exit

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The drama at WonderFi isn’t over yet. As the Toronto crypto firm agrees to sell to Robinhood for $250M, cracks are showing. Proxy firm Glass Lewis slammed the deal’s process, calling it “clearly suboptimal.” Why? WonderFi locked in an exclusivity deal with Robinhood—before getting two better offers.

Then came the payouts: $6M to an activist investor to stay quiet and $1.8M to the board chair for moonlighting as a banker. Rival bidder Questrade? Ignored. A WonderFi rep insists it was all above board. But with internal rifts and governance concerns piling up, this merger’s future looks anything but chill.

Want to know more? Check out the source code on The Logic.

Crypto Push: Robinhood Buys WonderFi, Bitbuy, Coinsquare

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Robinhood Markets will acquire Toronto-based WonderFi in a $250 million all-cash deal, offering $0.36 per share—a 41% premium on WonderFi’s last TSX close. The transaction brings 1.7 million users, $2.1 billion in client assets, and crypto platforms Bitbuy and Coinsquare under Robinhood’s control.

WonderFi’s team will join Robinhood’s Canadian operations, which already employ 140 staff in Toronto. The deal is expected to close in the second half of 2025, subject to regulatory approvals. Robinhood aims to grow its Canadian footprint and expand in crypto, as deregulation efforts under U.S. President Donald Trump reshape the sector.

Want to know more? Check out the source code on Fintech.ca.

WonderFi CEO Kidnapped in Toronto; Released After Ransom Payment

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On Wednesday evening, during rush hour in downtown Toronto, WonderFi CEO Dean Skurka was abducted near University Avenue and Richmond Street West. Toronto Police reported that suspects forced Skurka into a vehicle, later demanding a $1 million ransom.

Skurka was found unharmed in Centennial Park, Etobicoke, after the ransom was electronically paid, according to sources close to the investigation. In an email, Skurka confirmed his safety and assured that WonderFi’s client funds and data remain secure. The Toronto Police Service continues to investigate the incident.

Want to know more? Check out the source code on CBC.

    WonderFi Labs Looks to Ride ‘On-Chain’ Tech Wave into Crypto Future

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    WonderFi Technologies has unveiled WonderFi Labs, a new innovation and development arm focused on building decentralized applications. This initiative aims to expand WonderFi’s offerings beyond trading platforms. Initial products include WonderFi L2, a Layer 2 blockchain built on Ethereum, and WonderFi Wallet, an EVM-compatible non-custodial wallet.

    CEO Dean Skurka emphasized the importance of on-chain solutions for the future of crypto, positioning WonderFi at the industry’s forefront. Led by VP of Engineering Kartik Bajaj, WonderFi Labs will drive innovation and international expansion, leveraging the company’s $1.5B in assets under custody to develop cutting-edge technologies.

    Want to know more? Check out the source code on Fintech.ca.

    WonderFi Bolsters Web3 War Chest with Latest Crypto Company Acquisition

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    Bitbuy Technologies has acquired all client accounts of Calgary-based Bitvo, marking a strategic move in the crypto-trading sector.

    Previously almost acquired by FTX, Bitvo’s 17,000 client accounts, spanning retail and institutional, now join WonderFi’s growing ecosystem, which includes Bitbuy, Coinberry, Coinsquare, and CoinSmart. Unlike the collapsed FTX deal, Bitbuy’s acquisition focuses solely on client accounts, not assuming Bitvo’s operations or corporate liabilities.

    WonderFi CEO Dean Skurka emphasizes the non-dilutive nature of the acquisition, anticipating immediate cash flow, increased scale, and a rapid payback period. With a combined user base of 1.6 million Canadians, WonderFi positions itself as a major player in the crypto space.

    Want to know more? Check out the source code on Calgary.tech.

    WonderFi Completes Acquisition of Coinsquare and CoinSmart, Creating Canada’s Largest Regulated Crypto Ecosystem

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    In a long-anticipated move, WonderFi has announced the successful completion of its acquisition of Coinsquare and CoinSmart, solidifying its position as one of the most respected and regulated crypto trading platforms globally.

    The merger brings together three leading crypto-asset trading platforms and creates a powerhouse in Canada’s crypto investing landscape.

    WonderFi’s President, Dean Skurka, emphasizes the strength of their balance sheet and their ability to execute their core strategy.

    With a user base of 1.6 million and assets valued at $600 million, WonderFi is well-positioned to integrate users, cross-sell services, and expand their innovative product portfolio.

    Want to know more? Check out the source code on Fintech.ca.