Share this article
Canadian Bitcoin Exchange Cavirtex to Reopen Following Coinsetter Acquisition
Top Canadian bitcoin exchange Cavirtex has resumed trading following its acquisition by New York platform Coinsetter.
Updated Sep 11, 2021, 11:38 a.m. Published Apr 8, 2015, 3:31 p.m.
Top Canadian bitcoin exchange Cavirtex is expected to resume trading following its acquisition by New York platform Coinsetter.
The news comes after Cavirtex announced it was planning to shut down operations in March following a breach that compromised security information including password hashes the previous month.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
, now CEO of both Coinsetter and Cavirtex, said measures had been taken to remove the possibility of an event like this happening again. He added:
"No customers have been financially affected by a compromise ... We feel strongly about our ability to protect customer funds and will keep minimal funds in hot wallets."
Advertisement
Coinsetter's acquisition, which was completed through a negotiated agreement with Cavirtex's voting shareholders, will see both exchanges operate under their own names but share technology and capital, alongside banking access.
The CEO said he intended to bring members of the old Cavirtex team into the new exchange, though it is unclear exactly how many will remain.
Lukasiewicz concluded:
"I’m excited to place a core focus on Canadian customers and believe Cavirtex provides important infrastructure to be successful in this market. We are the only bitcoin exchange with an approved domestic bank account in Canada, and we will be integrating Coinsetter’s trading technology to provide an unmatchable bitcoin exchange for Canadians."
Former Cavirtex account holders will be able to use their existing login credentials to access their accounts. "We ask all users who set passwords and 2FA devices prior to February to reset those items," noted Lukasiewicz.
's acquisition comes two months after it raised a second round of funding, boosting its total to $1.9 million.
Correction: An earlier version of this article stated that Cavirtex had resumed trading following its acquisition. The exchange will resume trading sometime in the next day, though an exact time has not been disclosed.
Image via Shutterstock
More For You
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
