Canadian crypto trading platform Bitvo Inc. says its deal to be acquired by FTX, the crypto-exchange giant that collapsed last week and filed for bankruptcy, will not go ahead.
The company says that “in light of recent events” that its shareholder, Pateno Payments Inc., terminated its agreement with FTX Canada Inc.
and FTX Trading Ltd. Read more: What happened to FTX? What Canadians should know about the latest crypto collapse Read next: Part of the Sun breaks free and forms a strange vortex, baffling scientists Bitvo announced the deal to be acquired by FTX earlier this year.
Financial terms of the agreement were not disclosed. Bitvo said Tuesday it has no material exposure to FTX or any of its affiliated entities.