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WonderFi's Bitbuy Releases 5th Consecutive Proof of Reserves and Platform Due Diligence Audit
Toronto, Ontario--(Newsfile Corp. - November 28, 2023) - WonderFi Technologies Inc. (TSX: WNDR) (...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi's Bitbuy Releases 5th Consecutive Proof of Reserves and Platform Due Diligence AuditToronto, Ontario--(Newsfile Corp. - November 28, 2023) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the \"Company\" or \"WonderFi\") is pleased to announce that Bitbuy Technologies Inc. (\"Bitbuy\"), a registered crypto asset trading platform wholly owned by WonderFi, has completed its 5th annual \"Proof of Reserves & Platform Due Diligence Audit\" for 2023. The review was conducted by Blockchain Intelligence Group, an independent third-party and leading blockchain forensics firm.Key Findings:Bitbuy meets and exceeds its mandate requiring 90% of customer funds to be held in cold wallet storage, with each asset being held at a level of at least 94%.Bitbuy was scored as a \"Low Risk\" platform during an operational assessment that reviewed business activities, company registration, KYC/AML policies and other criteria.The 2023 Proof of Reserves & Platform Due Diligence Audit consists of an external review of counterparty risks associated with the operations of Bitbuy, as well as an assessment of client funds held in cold storage. The report also evaluates and scores any risks to the company's operations including regulatory status, jurisdictional risk, adverse media and more.\"Bitbuy's longstanding commitment to provide its users with trust and transparency has been critical to its continued success. As the industry continues to move towards increased regulation and transparency, WonderFi remains committed to providing its users with the trust they deserve,\" commented WonderFi President and Chief Executive Officer, Dean Skurka.More details on the Bitbuy's 2023 Proof of Reserves & Platform Due Diligence Audits can be found at the following URLs:www.bitbuy.ca/proof-of-reserveswww.bitbuy.ca/trust-centreABOUT WONDERFIWonderFi owns, operates, incubates, and invests across the global digital asset ecosystem. They own and operate two of Canada's most well-known and established crypto trading platforms Coinsquare and Bitbuy, as well as SmartPay, a global crypto payment processing platform. WonderFi is also the largest shareholder of Tetra Trust Company, a leading Canadian digital asset custodian. With a collective user base of over 1.6 million registered Canadians and a combined assets under custody exceeding ...