DeFi Technologies clarifies share ownership issues, director resigns

DeFi Technologies Inc. (NASDAQ: DEFT) provided additional disclosure regarding share ownership and depository imbalances following a request from Ontario Securities Commission staff. The financial technology company first disclosed these issues in an August 12, 2025 news release.

The company engaged Shareholder Intelligence Services in June 2025 to analyze share ownership, purchases, sales and custody data. Reports dated June 23, June 30 and July 15, 2025 indicated persistent differences between share positions reported by certain broker-dealers to intermediaries of Depository Trust Company, Canadian Depository for Securities and Broadridge Financial Solutions.

DeFi Technologies contacted 14 broker-dealers with the highest levels of imbalances to request reconciliations and explanations. The company received five responses, with broker-dealers attributing share imbalances to settlement timing differences, inclusion of reporting to certain intermediaries but not others, securities lending, differences in reporting inquiries and differences due to shares held in different currencies.

Two additional point-in-time reports since August showed continued imbalances in both the United States and Canada. The company stated it does not believe the share ownership imbalances impacted voting results at its 2025 shareholder meeting given the quantum of imbalances identified and meeting quorum.

DeFi Technologies also announced that Stefan Hascoet resigned from the board of directors effective immediately. Hascoet served as a director since June 2023.

The company operates as a financial technology firm bridging traditional capital markets and decentralized finance. Its business includes Valour, which offers access to digital assets via regulated exchange-traded products, and other subsidiaries focused on digital asset services.

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