December trading opened on a sour note for DeFi Technologies, as the Canadian fintech firm’s stock declined sharply in early European hours. On the Tradegate exchange, shares plummeted more than 12%, briefly trading below €1.20.
The sell-off followed a November 26 announcement that Canada Stablecorp won regulatory approval for QCAD, Canada’s first compliant dollar-denominated stablecoin. Management described the milestone as laying the ‘railway for a new financial system,’ but the market reacted in opposition, with investors overlooking the development.
The leadership transition continues, with co-founder Johan Wattenström taking the CEO role since November 17, after Olivier Roussy Newton’s resignation. Wattenström, who previously launched the world’s first Bitcoin ETP, now faces the challenge of restoring investor confidence.
The company reported Q3 2025 results showing $22.5 million in revenue and $9 million in operating profit, but year-over-year declines have contributed to investor caution. Technically, the chart remains weak, with the stock struggling to establish a firm above €1.15, and observers question whether stability will appear in the next US trading session.
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