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Real Estate : Real Estate Management & Development | Mid Cap Blend
Company profile

CBRE Group, Inc. is a holding company. The Company's Advisory Services segment provides a range of services globally, including property leasing, property sales, mortgage services, property management services and valuation services. The Global Workplace Solutions segment provides a suite of integrated, contractually based outsourcing services to occupiers of real estate, including facilities management and project management. The Real Estate Investments includes segment investment management services provided globally; development services in the United States, United Kingdom and Continental Europe, and legacy flexible office space solutions. The Company provides services to real estate investors and occupiers. Its services include capital markets, property leasing, investment management, property management, valuation and development services, among others. The Company also provides expert technical support services for high-end laboratory systems in the United States.

Closing Price
$77.28
Day's Change
0.50 (0.65%)
Bid
--
Ask
--
B/A Size
--
Day's High
77.64
Day's Low
76.41
Volume
(Light)
Volume:
589,000

10-day average volume:
1,397,597
589,000

Crypto Giants Look to Buy Assets From Failed Crypto Exchange

8:45 am ET September 1, 2022 (PR Newswire) Print

FN Media Group Presents Microsmallcap.com Market Commentary

The crypto bear market isn't all bad after all. It turns out the downturn provides excellent opportunities for expansion through mergers and acquisitions (M&A). According to Needham's senior research analyst John Todaro, valuations of public crypto companies have fallen about 70% this year. The sector's also in the midst of a crypto crash, which has wiped out around $2 trillion in value over the past few months, meaning crypto companies are cheaper now a year ago when the sector was in full recovery. Voyager Digital, the lender whose bankruptcy deepened this year's crypto market crisis, is attracting interest from some of the biggest players in the space, including exchanges Binance and FTX. FTX and Ripple Labs still have M&A in the pipeline for 2022 but WonderFi Technologies Inc (TSX:WNDR) (OTCQB:WONDF) was one step ahead when earlier this year they acquired Bitbuy and Coinberry, two of Canada's six registered crypto trading platforms. Hut 8 Mining (NASDAQ:HUT) (TSX:HUT), CleanSpark (NASDAQ:CLSK), Galaxy Digital (TSX:GLXY), and Riot Blockchain (NASDAQ:RIOT) are also making acquisitions or looking for interesting deals in the crypto space.

WonderFi Technologies Inc (TSX:WNDR) (OTCQB:WONDF) is a technology company providing greater access to digital assets through centralized and decentralized platforms.

On July 4, WonderFi Technologies completed its previously announced acquisition of Coinberry, one of Canada's leading crypto asset trading platforms registered with the Canadian Securities Administrators (CSA) and the first pure-play licensed crypto broker in Canada.

"This acquisition further solidifies WonderFi as a leader amongst crypto companies in Canada, and along with our acquisition of Bitbuy, establishes a great foundation for our expansion into global markets," said WonderFi CEO Ben Samaroo. "Further, as we've seen over the past few weeks, the crypto market downturn has had a massive impact on the viability of unregulated crypto trading platforms and WonderFi's value proposition as one of the few regulated crypto businesses makes us well positioned to continue our growth."

With this acquisition, WonderFi becomes the first company in Canada, and one of the first in the world, to own and operate multiple licensed crypto asset exchange platforms regulated by applicable securities commissions.

Coinberry also adds over 225,000 users and $99.5 million in client assets in custody as of March 31, 2022, giving the WonderFi group of companies over half a billion dollars in approximate total client assets under custody as of the acquisition.

WonderFi plans to realize significant cost synergies by integrating a variety of functions across its Coinberry and Bitbuy operations, developing cross-selling services and enhancing the user experience by continuing to innovate its suite of product offerings.

On July 15, WonderFi announced a partnership with the Meta Venture Capital Partnerships team, a division of Meta Platforms, Inc.

In order to help the most innovative firms scale, Meta Partnerships was founded in 2020. Its goal is to connect them with Meta's resources and brands, like Facebook and Instagram. WonderFi will receive strategic guidance from Meta Partnerships on matters such as marketing, performance, and business scale, as well as on collaborative strategies with other Meta departments and privacy-related regulations.

For more information about WonderFi Technologies Inc (TSX:WNDR) (OTCQB:WONDF), click here.

Crypto Companies Are Actively Pursuing Acquisitions

Of course, WonderFi isn't the only crypto company looking to expand its stake in the market through mergers and acquisitions.

Earlier this year, Hut 8 Mining (NASDAQ:HUT) (TSX:HUT) a leading innovator in digital asset mining in North America with a focus on innovation, supporting open and decentralized systems since 2018, closed its definitive agreement to acquire TeraGo Inc.'s cloud and colocation data centre operations. The acquisition comprises a comprehensive information technology solution that includes a full range of scalable cloud services, increased operations out of five data centres across Canada, and other related items. Hut 8 becomes a top high-performance computing platform as a result of the acquisition, giving the company a distinct position within the ecosystem for digital assets.

On August 19, America's Bitcoin Miner CleanSpark (NASDAQ:CLSK) announced that the deal to buy an active bitcoin mining plant in Washington, Georgia has closed. Once all 86MW of primarily carbon-free power is completely operational in 2023, the plant is anticipated to increase CleanSpark's hashrate by 2.6 EH/s. Since bitcoin mining improves grid resilience for nearby communities like Washington, Georgia, it is crucial to CleanSpark's ESG obligations. About 20 additional employees will be hired by the company as part of the facility expansion, the majority of whom will be residents of Washington and the neighbourhood. On September 8, CleanSpark will have an open house at the new location for interested residents, members of the local press, and community leaders.

Mind you, not every crypto company is moving forward with M&A plans. On August 15, Galaxy Digital (TSX:GLXY) announced that it had used its right to end its previously publicized acquisition agreement with BitGo because BitGo had failed to submit audited financial statements for 2021 by July 31, 2022, as required by the two companies agreement. There is no termination charge associated with the termination. After completing the SEC assessment, Galaxy Digital plans to carry out the proposed reorganization and domestication to become a Delaware-based business and then list on the Nasdaq.

Riot Blockchain (NASDAQ:RIOT) reported total revenue of $72.9 million for the three-month period ended June 30, 2022, an increase of 112% from $34.3 million for the same three-month period in 2021. Mining revenue increased 47% to $46.2 million in Q2 2022, from $31.5 million for the prior-year quarter, due to an increase in the number of BTC mined. Riot reported data center hosting revenue of $9.8 million for the three months ended June 30, following the acquisition of Whinstone US in the second quarter of 2021. Engineering segment revenue was $16.9 million in the quarter, following the acquisition of ESS Metron in the fourth quarter of 2021. Riot increased BTC production quantity by 107% to 1,395 BTC in Q2 2022, from 675 BTC in Q2 2021. The company raised $267.0 million in net proceeds from the sale of approximately 30.6 million shares of Riot common stock through our previously announced stock offering, further strengthening Riot's industry-leading financial position, in difficult market conditions for the sector.

WonderFi Technologies common shares started trading on the OTCQB(R) Venture Market on August 17, 2022. The company has also submitted an application to list its common shares on the Nasdaq Capital Market(R) (NASDAQ).

DISCLAIMER: Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of WonderFi Technologies Inc.

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