Tag: Parent

Kevin O’Leary-backed WonderFi to buy Bitbuy parent company for $162M

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Kevin O’Leary-backed decentralized finance (DeFi) platform WonderFi Technologies is increasing its footprint in Canada by buying the first regulated crypto exchange in the country.  WonderFi agreed to pay close to 206 million Canadian dollars ($162 million) to acquire First Ledger Corp., the parent company of BitBuy. WonderFi aims to become an end-to-end consumer platform for crypto and DeFi, according to the official announcement. Founded in 2016, Bitbuy became a fully-regulated crypto exchange in Canada after being licensed by the Ontario Securities Commission last November. The platform has over 375,000 users…

Mercado Bitcoin parent company 2TM raises $50M, further cementing unicorn status

2TM, the parent company of Brazilian cryptocurrency exchange Mercado Bitcoin, has received $50.3 million in fresh financing to expand its operations across Latin America, sending a strong signal that venture capital sees growth potential in the region.  The Series B fundraiser had participation from United States-based funds 10T and Tribe Capital, as well as Brazilian companies Traders Club, Pipo Capital and Endeavor, the company disclosed Tuesday. The funding round further cements 2TM’s status as a crypto unicorn after the company raised $200 million from SoftBank in July. At the time,…

ACX’s parent company Blockchain Global collapses owing $15M

Blockchain Global (BGL), the parent company of the now-defunct Australian crypto exchange ACX, has collapsed with outstanding debts of $15 million. On Sept. 13, The Victoria Supreme Court placed a freeze order on 117.33 Bitcoin (BTC) —worth around $7.1 million — held by two companies behind the exchange, BGL and ACX Tech. Three days later the companies were ordered to disclose the full scope of assets held locally and abroad but failed to meet the Sept. 30 deadline. The Australian Financial Review reported that BGL has since entered voluntary administration,…

Grayscale parent company expands GBTC purchase allocation to $1 billion

According to an announcement issued on Wednesday, DCG is now authorized to buy up to $1 billion worth of Grayscale Bitcoin Trust (GBTC). This development extends DCG’s prior authorization by $250 million if they choose to do so. Indeed, DCG has so far purchased $338 million in GBTC, according to the company’s announcement on Wednesday. As previously reported by Cointelegraph, DCG had purchased $193.5 million worth of GBTC shares back in May 2021. At the time, the firm’s GBTC purchase limit stood at $250 million. As part of the announcement,…

Luxury Fashion Group OTB to Join Louis Vuitton Parent LVMH in Aura Blockchain Consortium

Italy’s OTB Group, the owner of fashion brands Diesel, Jil Sander and Viktor & Rolf is the latest luxury goods company to join the Aura Blockchain Consortium as a founding member. In April, Louis Vuitton’s parent firm, LVMH, Prada and Richemont-owned Cartier unveiled the Aura Blockchain Consortium, a network developed in partnership with ConsenSys. OTB Group is the latest to join luxury brands, including Bulgari, Cartier, Hublot, Louis Vuitton, Hennessy and Prada, in tackling counterfeit goods through a blockchain-based seal of authenticity called Aura. Aura Blockchain Consortium said it has…

Grayscale parent Digital Currency Group plans to buy $250M of its own GBTC shares

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Cryptocurrency asset manager Grayscale has a new buyer of shares in its Grayscale Bitcoin Trust (GBTC) — its owner. In a press release on March 10, Grayscale parent company Digital Currency Group (DCG) announced plans to purchase up to $250 million of GBTC shares. GBTC to buy “up to $250 million” in shares The move, which comes amid volatile conditions for GBTC, follows plans to hire specialists in the exchange-traded fund (ETF) sphere, signaling a potential diversification by the company. According to the press release, DCG “has authorized the purchase…

Hanwha to acquire $52M stake in crypto exchange Upbit’s parent company

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South Korean conglomerate Hanwha Group is reportedly acquiring a stake in the parent company of major local cryptocurrency exchange Upbit. Hanwha Investment and Securities, the securities brokerage arm of Hanwha Group, has reached an agreement to buy a 6.15% stake in Upbit’ operator Dumanu for 58.3 billion won ($52.24 million), The Korea Herald reported on Feb. 3. According to the report, the acquisition of 2.06 million shares is scheduled to take place on Feb. 22. A representative from Hanwha said that the deal is a long-term investment for the company to keep…

Mytheresa Group’s Parent Company MYT Files for IPO with US SEC

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Reports showed that Mytheresa generated 6.4 million euros in the 2020 fiscal year, compared to $1.7 million euros raised in the previous year. Mytheresa Group GmbH’s parent company MYT Netherlands Parent B.V has filed for an initial public offering (IPO) in the US. As stated in the announcement, MYT proposed the IPO of American Depositary Shares (ADS) representing its ordinary shares. On the 28th of December, Mytheresa’s parent company MYT Netherlands Parent B.V filed for an IPO with the US Securities and Exchange Commission (SEC). Also, MYT said that Mytheresa,…

Bitmex parent 100x appoints German stock exchange exec as new CEO

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100x — the holding group for Bitmex’s parent company — has announced the appointment of a permanent new CEO in the wake of charges filed in Octob against the exchange’s co-founders, including former CEO of both 100x and Bitmex, Arthur Hayes. On Dec. 1, 100x announced that the former chief executive officer of German stock exchange Borse Stuttgart GmbH, Alexander Hoptner, will take over as CEO during January 2021. Hoptner will also join 100x’s board of directors, and will report directly to the group’s chairman, David Wong. 100x’s new CEO…