Company:Bitbuy

From HandWiki
Bitbuy
FormerlyMonitex Inc
Founded2016
Headquarters
Toronto, Canada
Key people
Bobby Halpern, Jordan Anderson and Dean Skurka
Websitehttps://bitbuy.ca/

Bitbuy was founded in 2016, serving 400,000+ Canadians with over $4 Billion dollars traded and operates a crypto trading platform regulated as a marketplace and licensed as a restricted dealer in Canada.[1][2][3]

Bitbuy offers crypto trading services to beginners, advanced traders and corporations making it The crypto destination of investors™.

On January 4th, 2022, Wonderfi Technologies, which is backed by Shark Tank star Kevin O’Leary, announced the acquisition of First Ledger Corp. for $206M.[4][5][6]

History

In January 2018, Bitbuy Technologies Inc. (formerly Monitex Inc.) was acquired by First Ledger Corp. after former shareholders of Monitex were parting ways.[7] Bitbuy is registered with FINTRAC as a Money Services Business in the Virtual Asset Service Provider.[8]

First Ledger Corp. was established by Bobby Halpern, a Toronto-based entrepreneur who wanted levered exposure to the digital currency space and acquired Bitbuy for $330,000 Canadian.

Halpern's childhood friends Jordan Anderson and Dean Skurka joined Halpern to build First Ledger Corp. into a leading diversified cash-flowing crypto platform focused on organic growth and acquisitions.[9]

First Ledger Corp’s acquisition of Bitbuy closed when crypto was crashing from late 2017 highs, and at the time of the purchase, Bitbuy had a total of ~500 customers and was a buy-only cryptocurrency brokerage.

In late 2018, First Ledger Corp. acquired CBIX.ca, to offer real-time crypto pricing data and information to the public.[10]

In late 2018, First Ledger Corp. expanded its team and product by acquiring Blockchain Markets Inc. (BCM), a buy and sell side cryptocurrency exchange that wasn’t yet live. After months of software development, testing, and product integration, Bitbuy Pro,  launched in April 2019.[11]

Between 2019 and 2021, Bitbuy grew to be a Canadian market leader by providing its clients the best prices, the deepest liquidity, and the most digital asset products in Canada with a convenient, dependable, and secure platform.[12]

In late 2021, Bitbuy Technologies was awarded the first crypto marketplace in Canada by the Ontario Securities Commission.[13]

In late 2021, First Ledger Corp. announced a marketing partnership and domain acquisition of Bitbuy.com from Ruslan Kogan of Australia-based online retailer Kogan.com.[14][13]

First Ledger Corp. generated over $31 million in revenue in the 12 months ending September 30, 2021.[15]

In February 2022, Bitbuy’s Chief Marketing Officer, (CMO), Noel Biderman, spearheaded a Bitbuy partnership with basketball star Kyle Lowry, who was featured in a Bitbuy commercial titled “Again and Again” that aired on the SuperBowl in Canada, with fanfare.[16]



  1. ↑ "Bitbuy Review 2022 - Accepted Countries, Payment Methods, Coins & User Reviews". https://www.fxempire.com/crypto/exchange/bitbuy/review. 
  2. ↑ "Error: no |title= specified when using {{Cite web}}". https://www.bloomberg.com/press-releases/2021-12-16/bitbuy-com-acquired-in-one-of-the-largest-domain-acquisitions-in-canadian-history. 
  3. ↑ "Bitbuy - Canada's first crypto trading platform to become regulated as a marketplace - relies on Eventus platform for trade surveillance" (in en-US). https://finance.yahoo.com/news/bitbuy-canadas-first-crypto-trading-120000737.html. 
  4. ↑ Hughes, Stephanie (2022-01-04). "Kevin O'Leary-backed WonderFi to purchase Bitbuy parent First Ledger in first takeover of regulated crypto platform in Canada" (in en). Financial Post. https://financialpost.com/fp-finance/cryptocurrency/wonderfi-to-purchase-bitbuy-parent-first-ledger-in-first-takeover-of-regulated-crypto-platform-in-canada. 
  5. ↑ https://www.usnews.com/news/technology/articles/2022-01-04/wonderfi-to-buy-parent-company-of-canadian-crypto-platform-bitbuy-for-about-162-million
  6. ↑ GmbH, finanzen net. "Kevin O'Leary-backed WonderFi to buy Bitbuy parent company for $162M" (in en). https://markets.businessinsider.com/news/stocks/kevin-oleary-backed-wonderfi-to-buy-bitbuy-parent-company-for-$162m-10896092. 
  7. ↑ Bellusci, Michael (2022-01-04). "Kevin O'Leary-Backed DeFi Platform WonderFi to Purchase Bitbuy for $162M in Cash, Shares" (in en). https://www.coindesk.com/business/2022/01/04/kevin-oleary-backed-defi-platform-wonderfi-to-purchase-bitbuy-for-162m-in-cash-shares/. 
  8. ↑ "Error: no |title= specified when using {{Cite web}}". https://www.bloomberg.com/press-releases/2021-12-16/bitbuy-com-acquired-in-one-of-the-largest-domain-acquisitions-in-canadian-history. 
  9. ↑ "Kevin O'Leary-Backed DeFi Platform WonderFi to Purchase Bitbuy for $162M in Cash, Shares" (in en-US). https://finance.yahoo.com/news/kevin-o-leary-backed-defi-121158970.html. 
  10. ↑ Bitbuy.ca (2018-10-25). "Bitbuy Completes Acquisition of CBIX" (in en). https://www.globenewswire.com/news-release/2018/10/25/1627436/0/en/Bitbuy-Completes-Acquisition-of-CBIX.html. 
  11. ↑ Jordan; Professional, ersonJordan is a Sales; blockchain, Growth Marketer with 10+ years’ experience He is the VP of Sales at Bitbuy Jordan is passionate about; decentralization; community, emerging technologies He is also active in Toronto's startup; Meet-Ups, Often Attending; conferences; Up, Having Made Seed Investments in et al. (2019-02-21). "Bitbuy Pro Trade Feature Review - Bitbuy Resources" (in en). https://bitbuy.ca/en/resources/updates/bitbuy-pro-feature-review/. 
  12. ↑ Jordan; Professional, ersonJordan is a Sales; blockchain, Growth Marketer with 10+ years’ experience He is the VP of Sales at Bitbuy Jordan is passionate about; decentralization; community, emerging technologies He is also active in Toronto's startup; Meet-Ups, Often Attending; conferences; Up, Having Made Seed Investments in et al. (2019-02-21). "Bitbuy Pro Trade Feature Review - Bitbuy Resources" (in en). https://bitbuy.ca/en/resources/updates/bitbuy-pro-feature-review/. 
  13. ↑ 13.0 13.1 "Bitbuy Technologies Inc." (in en). https://www.osc.ca/en/securities-law/orders-rulings-decisions/bitbuy-technologies-inc. 
  14. ↑ "Kogan.com in deal with Canadian crypto exchange Bitbuy" (in en). 2021-12-14. https://www.afr.com/companies/financial-services/kogan-com-in-deal-with-canadian-crypto-exchange-bitbuy-20211214-p59he9. 
  15. ↑ Hughes, Stephanie (2022-01-04). "Kevin O'Leary-backed WonderFi to purchase Bitbuy parent First Ledger in first takeover of regulated crypto platform in Canada" (in en). Financial Post. https://financialpost.com/fp-finance/cryptocurrency/wonderfi-to-purchase-bitbuy-parent-first-ledger-in-first-takeover-of-regulated-crypto-platform-in-canada. 
  16. ↑ "Discover the Bitbuy exchange commercial at the Super Bowl" (in en). https://cryptonews.com/news/canadian-crypto-exchange-bitbuy-will-attend-super-bowl.htm. 
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