INV4
1年前
Mogo Announces $50 Million Bitcoin Treasury Authorization and Strategic Alignment with Bitcoin Across the Organization
July 2, 2025
Board-Approved Allocation Reflects Long-Term Conviction in Bitcoin as a Strategic Reserve Asset and Foundation for Innovation Across Treasury and Product Strategy
Strategic Alignment Across Core Businesses of Wealth, Payments and Lending
Company Adopts Bitcoin as Corporate Hurdle Rate
Mogo Inc. (“Mogo” or the “Company”) (NASDAQ: MOGO; TSX: MOGO), a leading Canadian digital wealth and lending platform, today announced that its Board of Directors has authorized the allocation of up to $50 million to Bitcoin as part of the Company’s long-term capital preservation and product innovation strategy. The move marks a significant step in Mogo’s strategic alignment with Bitcoin, integrating it across treasury policy and its core operating platform.
Mogo has been at the forefront of digital asset innovation for nearly a decade. In 2018, it launched Canada’s first Bitcoin account, and in 2020, it became the third US-listed company to add Bitcoin to its balance sheet, following MicroStrategy and Block, and ahead of Tesla. Mogo also played a key role in the formation of Canada’s largest independent crypto platform through the 2023 merger of Coinsquare and WonderFi, which recently announced it has entered into an agreement to be acquired by Robinhood.
“Building on our history and experience in crypto, we’re making a long-term strategic commitment to Bitcoin, backed by deep conviction and the flexibility to build a meaningful Bitcoin reserve that aligns with our capital priorities and market outlook,” said Greg Feller, President & Co-Founder of Mogo. “This allocation gives us the flexibility to build a meaningful position over time as part of a disciplined, multi-year strategy.”
Board-Approved $50 Million Bitcoin Treasury Authorization
Following the anticipated close of the WonderFi–Robinhood transaction in the second half of 2025, Mogo expects to hold approximately $50 million in cash and investments. The Company’s Board has approved a Bitcoin allocation of up to $50 million, to be funded by excess cash on the balance sheet and, over time, through additional monetizations from its investment portfolio, including investments in US-based crypto exchange, Gemini, and Canadian technology company, Hootsuite.
The Company has an initial goal to scale to a $50 million investment in Bitcoin based on staged investments over time.
Read more:
https://ih.advfn.com/stock-market/NASDAQ/mogo-MOGO/stock-news/96358618/mogo-announces-50-million-bitcoin-treasury-author
$MOGO
makinezmoney
1年前
$MOGO: Buyout by Robinhoood.......... WHERE IS EVERYONE ????????
Mogo Portfolio Company WonderFi Announces Definitive Agreement to be Acquired by Robinhood Markets
Share
Mogo is WonderFi’s largest shareholder holding ~82 million shares
Mogo signs voting support agreement in favour of the transaction
VANCOUVER, British Columbia--(BUSINESS WIRE)--Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), a digital wealth and payments business, today announced that its portfolio company, WonderFi Technologies Inc. (TSX:WNDR) (“WonderFi”), has entered into a definitive agreement (the "Arrangement Agreement") with Robinhood Markets, Inc. (NASDAQ: HOOD) ("Robinhood") and a wholly owned subsidiary of Robinhood ("Purchaser"). Pursuant to the Arrangement Agreement, the Purchaser will acquire all of the issued and outstanding common shares of WonderFi ("Common Shares") for C$0.36 per Common Share by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement").
The all-cash purchase price represents a total equity value of approximately C$250 million on a fully diluted, in-the-money basis, a premium of approximately 41% to the closing price of the Common Shares on the Toronto Stock Exchange (the "TSX") on May 12, 2025, the last trading day prior to the announcement of the Arrangement, and a premium of approximately 71% to the 30-day volume-weighted average trading price ("VWAP") of the Common Shares as at that date.
“This is a defining moment for WonderFi, and we acknowledge the team’s remarkable progress,” said Greg Feller, Mogo’s President & Chief Financial Officer. “We stand behind this transaction, as it delivers immediate liquidity and solidifies value at a compelling premium for shareholders. Mogo was instrumental in shaping the present-day WonderFi. In July 2023, we orchestrated the merger of Coinsquare, in which we held a 34% stake, with WonderFi—bringing together two of Canada’s most influential crypto trading platforms. That strategic move set the stage for the milestone we see today.”
Mogo is WonderFi’s largest shareholder, holding approximately 82 million common shares. Full details of the agreement can be found in the WonderFi press release.
As part of the Arrangement, Mogo and certain other shareholders as well as the directors and certain officers of WonderFi, collectively holding approximately 28% of the issued and outstanding Common Shares, entered into voting support agreements pursuant to which they have agreed to vote their shares in favour of the Arrangement, subject to certain conditions.
The Transaction is expected to close in the second half of 2025, subject to the receipt of the required approvals from WonderFi’s shareholders at a shareholder meeting of WonderFi, certain regulatory approvals, as well as the satisfaction of other customary closing conditions for a transaction of this nature.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities legislation, including statements regarding the terms of the Arrangement Agreement, completion thereof and satisfaction of closing conditions in connection therewith. Forward-looking statements are typically identified by words such as "may", "will", "could", "would", "anticipate", "believe", "expect", "intend", "potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. For a description of the risks associated with Mogo's business please refer to the “Risk Factors” section of Mogo’s current annual information form, which is available at www.sedarplus.com and www.sec.gov. Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
About Mogo
Mogo Inc. (NASDAQ:MOGO; TSX:MOGO) is a financial technology company with three distinct business lines: wealth, lending, and payments. Our mission is to provide consumers with innovative financial solutions that drive long-term financial health and success. We operate with a differentiated approach in each business, leveraging technology, behavioral science, and financial tools to create unique value propositions in our respective markets.
Our wealth and lending businesses are focused on the Canadian market, where we are the only subprime consumer lender that also offers a holistic wealth and investing solution. This unique integration is designed to help consumers transition from borrowing and debt to long-term wealth building. Separately, our payments business is operated through Carta Worldwide, a wholly owned subsidiary that provides modern card issuing and processing solutions, primarily in Europe.
Contacts
Investor Relations
investors@mogo.ca
US Investor Relations Contact
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
shamsian@lythampartners.com
(646) 829-9701
GO $MOGO
conix
5年前
Consumers Acceptance of Digital Currency Explodes as Cryptocurrency Continues to Rise
Palm Beach, FL – February 10, 2021 – With advanced technological developments, virtual currency exchange methods have been invented and evolved rapidly in past few years, and have emerged and commonly known now, all around the world as ‘cryptocurrencies”. Prior to then, virtual currencies were initially limited for demonstrable transactions in social and gaming economies. The cryptocurrencies were aimed to eliminate financial intermediaries by direct peer-to-peer transactions. Most of the developing countries like the U.S., Germany, China, and the U.K. have started adopting cryptocurrencies as an exchanging medium. The terms used for the digital currency varies from country to country, such as payment token (Switzerland), digital currency (Thailand, Australia, and, Argentina), crypto-token (Germany), virtual commodity (Taiwan, China, and Canada), virtual asset (Honduras and Mexico), cyber currency (Italy and Lebanon), and electronic currency (Colombia and Lebanon). Recent reports project that this market is primed to continue its revenue growth for several years to come. A report from Fortune Business Insights said that the global cryptocurrency market size stood at USD 754.0 million in 2019 and is projected to reach USD 1,758.0 million by 2027, exhibiting a CAGR of 11.2% during the forecast period. Active Companies in the merchant industry include The OLB Group, Inc. (NASDAQ: OLB), GreenBox POS (OTCQB: GRBX), Mogo, Inc. (NASDAQ: MOGO) (TSX: MOGO), Riot Blockchain, Inc. (NASDAQ: RIOT), Marathon Patent Group, Inc. (NASDAQ: MARA).
The Fortune Business Insights report continued: “The increasing popularity of digital assets like Bitcoin and Litecoin is likely to drive the market growth in the forthcoming years. Moreover, digital currency is also often utilized with the integration of blockchain technology to attain decentralization and controlled efficient transactions. The block-chain technology offers decentralized, fast, transparent, secure, and reliable transactions. With these advantages of blockchain and cryptocurrency, companies are investing and collaborating with other companies to deliver efficient and quality services to the users.”
The OLB Group, Inc. (NASDAQ: OLB) BREAKING NEWS : OLB Group Announces Plan to offer Cryptocurrency Payment Options via Blockchain Technology on its OMNICOMMERCE Platform and SecurePay TM Gateway – OLB’s SecurePay TM Payment Gateway to Enable Merchants to Seamlessly Offer Cryptocurrency Payments – The OLB Group, Inc., a provider of cloud- based omnicommerce and payment acceptance solutions for small and mid-size merchants, announced it has upgraded its SecurePay payment gateway system to support Cryptocurrencies including Bitcoin, Ethereum, USDC and DAI across all merchant platforms. Merchants utilizing the OLB SecurePay gateway service or the OmniSoft cloud-based business management platform will immediately have the option to accept these alternative contactless payment methods without any equipment changes. Our systems will be wallet agnostic and, integrating them with third-party software, customers will be able to seamlessly pay with Cryptocurrency wallets such as MetaMask TM , Coinbase Wallet TM , Crypto.com and Trust Wallets TM .
Ronny Yakov, CEO of OLB, said, “Providing all the latest technologies and tools to merchants is our top priority. It is imperative to adjust to these times as the world becomes further integrated with digital currencies. By enabling our merchants the ability to accept digital payments, it will also help enhance the funds available for every merchant that opts in, as these forms of payments settle instantly, providing small businesses with more flexibility and agility. By 2027, the global payments industry is projected to be 8.94 Trillion USD and according to Statista there are 66 million users of Cryptocurrency wallets, according to Fortune Business Insights”
SercurePay is compatible with mobile, tablet-based and cloud infrastructure and will be integrated into the merchants current payment ecosystem, in order to enable the acceptance of Cryptocurrency payments. Merchants interested in implementing omnicommerce services or accepting crypto within their existing payment infrastructure can set up an account at https://cryptoaccept.com For more information about The OLB Group, please visit http://www.olb.com and http://www.olb.com/investors-data
Other recent developments in the eCommerce/Merchant industry include:
GreenBox POS (OTCQB: GRBX), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions, recently announced it will be adding Secure Token Technology as part of its stabilized Gen3 software offering, with preference to early adopters and existing users of the Company’s current ecosystem.
Recent national developments are bringing blockchain to mainstream transactional environments, such as the letter of the OCC ], Banking for All Act , and the appointment of Mr. Gary Gensler as Head of SEC . Most notably from the letter handed down from the OCC they state: “This letter addresses the authority of a national bank to hold deposits that serve as reserves for certain “stablecoins.” Generally, a stablecoin is a type of cryptocurrency designed to have a stable value as compared with other types of cryptocurrency, which frequently experience significant volatility. One type of stablecoin is backed by an asset such as a fiat currency. Reports suggest stablecoins have various applications, including the potential to enhance payments on a broad scale, and are increasingly in demand.”
Mogo, Inc. (NASDAQ: MOGO) (TSX: MOGO), a digital payments and financial technology company, recently reported strong month-over-month growth in several key metrics in January related to its bitcoin account as an increasing number of Canadians look to gain access to this emerging digital asset. Highlights include: A 141% increase in new bitcoin account additions in January compared with December; and A 323% increase in the dollar value of bitcoin traded on the Mogo platform in January versus December
“In January, we continued to experience growing demand for new MogoCrypto accounts and increasing transaction activity among members, highlighted by a more than 300% month-over-month increase in trading volume,” said David Feller, Mogo’s Founder and CEO. “We believe this product offers significant long-term growth opportunity for Mogo. There are more than $13 trillion in assets 1 held by Canadians and, while bitcoin continues to gain credibility as an asset class, the majority of Canadians do not own or have exposure to it. Our app offers a simple, transparent and low-cost way to buy and sell bitcoin, and members also benefit from our other financial health solutions, all integrated into one seamless, easy-to-use, digital account.”
Riot Blockchain, Inc. (NASDAQ: RIOT), one of the few NASDAQ-listed bitcoin mining companies in the United States, recently announced the appointment of Jason Les as Chief Executive Officer, and that Hannah Cho has been appointed to the Company’s Board of Directors, as an independent director.
Mr. Les has been deeply involved with Bitcoin since 2013, with significant experience in both mining and as an engineer studying protocol development and contributing to open-source projects. He has served as an independent director on the Company’s Board of Directors since 2017, and he will continue to remain as a member of the Board of Directors. As CEO, he will be the driving force behind the Company’s strategic focus on Bitcoin mining, and its mission to become one of the most relevant and significant companies supporting the Bitcoin network and greater bitcoin ecosystem.
Marathon Patent Group, Inc. (NASDAQ: MARA), one of the largest enterprise Bitcoin self-mining companies in North America, recently announced that 4,000 Antminer S-19 Pro ASIC miners have been shipped from Bitmain to Marathon’s mining facility in Hardin, MT as scheduled.
Marathon’s current mining fleet consists of 2,560 miners, generating 248 PH/s (petahash per second). Each S-19 Pro miner produces 110 TH/s (terahash per second) and adds 0.11 PH/s to the Company’s existing operations. Once the additional 4,000 miners are installed, the Company’s mining fleet will consist of 6,560 miners producing approximately 688 PH/s. This represents a 256% increase of our current Hashrate production. To date, the Company has purchased 103,060 miners, which, once delivered and fully deployed, will produce approximately 10.36 EH/s (exahash per second).
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult =a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty six hundred dollars for news coverage of the current press releases issued by The OLB Group, Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
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