Bitvo says it has no exposure to FTX and is not part of the company\u0027s bankruptcy proceedings. Find out more.
But the plan to make Bitvo FTX’s Canadian beachhead has been terminated in the wake of the latter’s spectacular collapse last week, according to a statement from the Canadian company.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Under terms of the company’s registration with Canadian securities regulators as a “restricted” dealer, obtained in April, Bitvo operates on a full reserve basis, meaning it does not lend customer funds. The company is also registered with FINTRAC as a money services business in the virtual asset service provider category.
The acquisition had been targeted to close in the third quarter, subject to regulatory approval and customary closing conditions.
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