#Canada #Toronto #DeFi Technologies #Olivier Roussy Newton #Johan Wattenström

DeFi Technologies Announces Leadership Change

DeFi Technologies Inc. has made headlines with a significant change in its leadership team that signals a new era for the company. Olivier Roussy Newton, who has played a crucial role in the company's development, has announced his resignation as the Chief Executive Officer and Executive Chairman of the Board. This transition is critical as Johan Wattenström, the company’s co-founder, has been appointed to succeed him as both CEO and Executive Chairman, effective immediately.

Background to the Transition

Olivier Roussy Newton co-founded Valour Inc. and later took the reins as CEO of DeFi Technologies in October 2022. His tenure began amid extremely challenging market conditions, with the company’s stock price around $0.5 and financial reports indicating significant liabilities. Under his guidance, the firm not only stabilized but also thrived, showcasing remarkable growth and operational expansion. Over the last three years, Roussy Newton directed efforts that rapidly scaled Valour's ETP platform, driving asset management to upwards of $1 billion within a relatively short period.

In his farewell remarks, Roussy Newton praised the efforts of his team, highlighting their accomplishments that included institutionalizing Valour’s approach to digital assets and executing successful mergers and acquisitions. He expressed confidence in Wattenström's ability to guide the company into its next phase of growth, a sentiment echoed by other industry leaders.

Achievements During Roussy Newton's Leadership

Notable achievements during Roussy Newton's leadership include:

• - Expansion of the ETP platform: Roussy Newton led the expansion to over 100 listed products, significantly enhancing investor access across major European exchanges.
• - Successful Uplisting: The company's successful uplisting to the Nasdaq Capital Market as DEFT facilitated increased visibility among U.S. investors, along with the commencement of options trading on the exchange.
• - Revenue Growth: Under his stewardship, DeFi Technologies saw a meteoric rise in revenues, from $4.5 million in 2021 to over $50 million in 2024 with year-to-date revenues reaching over $80 million. The company is on track for its first $100 million revenue year.
• - Debt Management: Meticulous debt reduction strategies culminated in the repayment of outstanding debts, strengthening the company’s financial position.
• - Strategic Acquisitions: Acquisitions such as Stillman Digital enhanced the company's trading and market-making capabilities, positioning it robustly within the digital asset landscape.

Welcoming Johan Wattenström

Johan Wattenström's appointment is highly anticipated. Having co-founded DeFi Technologies and Valour, he brings nearly two decades of extensive experience in digital assets and financial infrastructure. His previous successes, including establishing XBT Provider—the world’s first issuer of Bitcoin ETPs—provide a strong foundation of expertise for leading this next chapter.

Wattenström stated, “Olivier and I have built this company together from the ground up. I am grateful for his leadership and friendship. We will not only continue to expand our ETP platform globally but also strengthen our trading capabilities.”

This leadership transition emphasizes not only continuity but also a strategic shift towards further integration of traditional capital markets with decentralized finance. With Roussy Newton shifting to a Strategic Advisor role, the transition will maintain a cohesive vision for the company's future.

The Road Ahead for DeFi Technologies

Looking ahead, DeFi Technologies aims to augment its presence in the financial technology sector by leveraging innovative solutions and enhancing market transparency. Transitioning leadership is a pivotal moment that positions the company to capitalize on new opportunities and navigate the increasingly competitive landscape of decentralized finance.

With an eye on continued growth and stability, DeFi Technologies remains committed to developing its product ecosystem, focusing on strengthening ties with other key players in the industry, such as BTQ Technologies. The goal is to utilize BTQ’s infrastructure to enhance product security and resilience, setting a solid foundation for future advancements.

As DeFi Technologies embarks on this new chapter under Johan Wattenström, industry observers and stakeholders are eager to witness how the company evolves and adapts in a rapidly changing financial landscape.

For more information, visit the company's website and follow them on their platforms as they continue to innovate in the decentralized finance space.