Wonderfi jumps on report of merger talks with Coinsquare

WonderFi ( OTCQB:WONDF ) soared 34% on a report that it's in advanced merger talks with Coinsquare Lltd. A deal would create the largest cryptocurrency exchange in Canada and it may be announced in days, according to a BNN Bloomberg report , which cited people familiar. The exact terms of the deal weren't known. WonderFi is backed by "Shark Tank's" Kevin O'Leary. Under one scenario, Coinsquare holders may take a majority stake in the combined company as well as control more seats on the board then Wonderfi, according to the report. The shares were halted on the Toronto Stock Exchange following the BNN Bloomberg report. A potential transaction comes after CoinSmart ( OTCPK:CONMF ) on Monday said that Coinsquare is terminating a deal to acquire CoinSmart. Last month Shark Tank's Kevin O'Leary sparred with TV anchors over FTX.