One of the most exciting publicly traded digital asset companies in Canada is hitting new records for revenue.
What’s happening:
- DeFi Technologies (CBOE: DEFI) has achieved record breaking quarterly revenue, generating a total of $133.2M CAD in gross revenue
By the numbers:
- DeFi Technologies earned $90.4M CAD in total gross profit for their most recent quarter
- DeFi Technologies now has $837M CAD in total assets under management
- DeFi Technologies currently holds $9.2M CAD of Bitcoin directly as an asset
Why it matters:
- The traditional public markets and digital assets continue to merge closer together, with asset management giants such as State Street launching a new partnership with publicly traded crypto company Galaxy Digital (TSX: GLXY) and Wall Street hedge funds continuing to ramp up their exposure to Bitcoin
Going deeper:
- A significant amount of the revenue generated in DeFi Technologies most recent quarter actually came from DeFi Alpha, which is their recently launched crypto trading and arbitrage venture
- DeFi Technologies also recently began acquiring Solana to hold directly as an asset alongside of their exposure to Bitcoin
- DeFi Technologies has continued to see rapid growth of their subsidiary Valour, who owns and operates Exchange Traded Products on the Nordic Growth Market that provide traditional markets exposure to leading decentralized finance projects such as Avalanche, Polkadot and even Telegram’s digital asset
The intrigue:
- DeFi Technologies is also the first company to ever list an Exchange Traded Product that generates a yield from owning Bitcoin
