As the cryptocurrency industry navigates a so-called crypto winter, merger talks among exchanges are heating up.
Those discussions continue, sources say.
Since BNN Bloomberg’s exclusive story was published, CoinSmart has publicly rejected Coinsquare’s notice to terminate their deal, describing it as “invalid and without merit.”“As a result of very high regulatory costs and regulatory capital in the tens of millions of dollars, the smaller exchanges will find themselves forced into consolidation, likely with this new amalgamation … or face extinction,” one source previously told BNN Bloomberg in January.
Those realities are not unique to Canada. The prices of cryptocurrencies such as Bitcoin remain well below their peak.
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