Canadian crypto firm CoinSmart hunts for deals amid industry turmoil

The crypto-asset trading platform is sifting through distressed assets, custodial-services firms and other exchanges and payment platforms, Hartzman said in an interview.

The Toronto-based company hasn’t been immune to the market collapse that’s pushed some lenders and hedge funds, such as Three Arrows Capital, into bankruptcy. CoinSmart’s shares have lost about three-quarters of their value this year, shrinking its market capitalization to just $14 million. That’s a fraction of Coinbase Global Inc., which has also tumbled on increased scrutiny from U.S. regulators.

Listed in Toronto and Frankfurt, CoinSmart’s transactions exceeded $1 billion last year, and the firm has 250,000 registered users, according to the CEO. The company went public in November, when crypto trading was surging, after obtaining licences from the Ontario Securities Commission .

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U.S. lawmakers introduce new crypto oversight legislation as industry shakesAfter 13 years, at least three crashes, dozens of scams and Ponzi schemes and hundreds of billions of dollars made and evaporated, cryptocurrencies finally have the full attention of the U.S. Congress, whose lawmakers and lobbyists have papered Capitol Hill with proposals on how to regulate the industry. Instead of leaning into more fake money, we should have made the money we had more real THREE MASKS ON IS OKAY BUT FOUR MASKS ON IS BETTER!!!!! It has been a pie-in-the-sky, naive concept from the start. No govt will permit any currency to evade taxes, never, ever. So goes the fantasy - poof!
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