DeFi Technologies Inc. has unveiled its strongest financial performance to date, reporting robust growth across key metrics for the year ended December 31, 2024. The company recorded Adjusted Revenues of C$204.4 million (US$144.8 million), Adjusted EBITDA of C$116.1 million (US$80.4 million), and Adjusted Net Income of C$115.07 million (US$84 million)—marking a pivotal milestone in its evolution as a leader at the intersection of traditional finance and decentralized technologies.
This exceptional performance underscores the scalability of DeFi Technologies’ business model, driven by strategic acquisitions, product innovation, and expanding global market presence.
Financial Performance Highlights
The company’s financial strength is anchored in diversified revenue streams and disciplined capital allocation. For the fourth quarter alone, DeFi Technologies reported:
- Adjusted Revenue: C$42.6 million (US$31.1 million)
- Adjusted Net Income: C$19.1 million (US$13.9 million)
- Adjusted EBITDA: C$20.08 million (US$14.6 million)
These results reflect consistent execution across its core business units: Valour (digital asset ETPs), DeFi Alpha (proprietary trading), Stillman Digital (institutional liquidity), and Reflexivity Research (market intelligence).
Assets Under Management Surge by 132%
A major driver of growth has been the explosive rise in Assets Under Management (AUM), which climbed 132% year-over-year to reach C$1.18 billion (US$819 million) by the end of 2024. This surge was fueled by:
- Strong investor demand for regulated exposure to digital assets
- Successful launches of new exchange-traded products (ETPs)
- Increased trading volumes and strategic corporate actions
Valour, the company’s flagship ETP platform, played a central role in this expansion, capitalizing on favorable market conditions and growing appetite for compliant crypto investment vehicles.
Institutional Recognition and Index Inclusion
DeFi Technologies has gained significant traction among institutional investors, with its products included in several high-profile indices such as:
- MVIS Global Digital Assets Equity Index
- VanEck Digital Transformation ETF
- MSCI Canada Small Cap Index
- Offerings by Bitwise, Vanguard, and Melanion Capital
This broad recognition affirms the company’s position as a trusted bridge between conventional capital markets and the digital asset ecosystem.
Segment-Level Performance Breakdown
Valour: Staking, Lending & Management Fees
In Q4 2024, Valour generated:
- Staking and lending income: C$12.8 million (US$9.1 million)
- Management fees: C$2.9 million (US$2.1 million)
For the full fiscal year:
- Total staking/lending income: C$35.7 million (US$25.5 million)
- Management fees: C$8.8 million (US$6.3 million)
These figures highlight Valour’s ability to monetize digital asset holdings while providing secure, regulated access to investors.
DeFi Alpha: Zero-Loss Trading Strategy Delivers C$132.1M
DeFi Alpha, the company’s proprietary trading arm, delivered C$132.1 million (US$96.7 million) in returns over the past 12 months—with zero losses recorded to date. This performance demonstrates the effectiveness of its arbitrage-focused strategy and balance sheet optimization.
Stillman Digital: Post-Acquisition Momentum Builds
Acquired in October 2024, Stillman Digital contributed C$2.9 million (US$2.1 million) in trading commissions during Q4. As a leading OTC desk with over US$15 billion in lifetime trade volume, it enhances DeFi Technologies’ institutional liquidity capabilities.
Reflexivity Research: Expanding Market Influence
Reflexivity Research reported:
- Q4 revenues: C$861,241 (US$615,964)
- Full-year revenues: C$2.0 million (US$1.4 million)
Its Crypto Investor Day in New York, moderated by Anthony Pompliano and sponsored by Coinbase and Ledger, reinforced its status as a thought leader in the space.
Strong Treasury and Investment Portfolio
As of December 31, 2024, DeFi Technologies held a diversified treasury comprising:
- 208.8 BTC
- 121 ETH
- Over 586,000 ADA, 131,000 DOT, 14,375 SOL, and more
Total treasury value: C$58.9 million (US$40.7 million)
Venture portfolio value: C$53.7 million (US$37.3 million)
Cash balance: C$22.4 million (US$16.7 million)
Total combined value of cash, treasury, and venture investments: C$135 million (US$93.8 million)
This robust balance sheet provides strategic flexibility for future growth initiatives.
Strategic Acquisitions and Partnerships
Acquisition of Stillman Digital
The integration of Stillman Digital strengthens DeFi Technologies’ institutional offerings in:
- OTC trading
- Foreign exchange
- Custody solutions
- Proprietary trading strategies
Launch of SolFi and CoreFi Strategies
The company announced upcoming ventures:
- SolFi Technologies: To provide shareholder exposure to the Solana ecosystem
- CoreFi Strategy: A MicroStrategy-inspired approach to amplify Bitcoin returns using CORE tokens
Majority Stake in Neuronomics AG
In March 2025, DeFi Technologies finalized a 52.5% acquisition of Neuronomics AG, an AI-driven Swiss asset manager specializing in computational neuroscience. This positions the company at the forefront of algorithmic investment strategies.
Global Expansion of Valour ETPs
Valour continues to expand its international footprint with over 60 ETPs listed across European and UK exchanges—and a target of 100 listings by end of 2025.
Key developments include:
- Transfer of crypto ETPs to Spotlight Stock Market
- Launch of first-ever Valour Bittensor (TAO) and Dogecoin (DOGE) ETPs in Nordics
- Mega launch of 20 new digital asset ETPs
- Hedera HBAR ETP listing on Euronext via partnership with The Hashgraph Group
- Application submitted for Dubai Financial Market listing
- Memorandum of Understanding (MOU) with Nairobi Securities Exchange for African market entry
- MOU with AsiaNext and SovFi for APAC expansion
Nasdaq Listing Application Progress
DeFi Technologies filed Form 40-F with the U.S. SEC in September 2024 to list its shares on Nasdaq, with an amended filing submitted in January 2025. The listing remains subject to regulatory approval but represents a critical step toward enhanced liquidity and global investor access.
2025 Financial Outlook
Based on current momentum, DeFi Technologies forecasts:
- Annualized revenue for 2025: C$227.2 million (US$159.9 million)
- Continued proportional revenue growth tied to AUM expansion
- Expected inflows acceleration beyond Q4 2024 levels
Segment-specific projections:
- Stillman Digital: Revenue forecast of C$12M–C$16M in 2025
- DeFi Alpha: Poised to scale systematic trading with growing AUM
- Neuronomics: Plans AI-powered product launches including Smart Crypto AI and TechEquity AI by Q3 2025
Core Keywords
DeFi Technologies, digital asset ETPs, institutional crypto adoption, Valour, DeFi Alpha, Stillman Digital, AUM growth, Nasdaq listing
Frequently Asked Questions (FAQ)
Q: What is Adjusted Revenue and why does it matter?
A: Adjusted Revenue excludes non-operational items like DLOM (Discount for Lack of Marketability) and Genesis-related adjustments. It provides a clearer view of core business performance by removing accounting anomalies not reflective of actual operations.
Q: How does DeFi Alpha generate returns without losses?
A: DeFi Alpha employs low-risk arbitrage strategies and leverages exclusive opportunities through partnerships and ETP-linked holdings. Its model avoids broad market exposure, focusing instead on systematic trades in low-competition areas.
Q: What markets is Valour expanding into?
A: Valour is actively entering Africa (via Nairobi Securities Exchange), Asia-Pacific (through AsiaNext in Singapore), Middle East (Dubai), and other emerging regions—capitalizing on first-mover advantage in high-adoption jurisdictions.
Q: Why did DeFi Technologies acquire Neuronomics?
A: The acquisition aligns with its vision to integrate artificial intelligence into asset management. Neuronomics brings proprietary AI models for strategy development and back-testing, enhancing long-term innovation capacity.
Q: Is DeFi Technologies profitable?
A: Yes. With Adjusted Net Income of C$115M+ in 2024, DeFi Technologies stands among the few publicly traded digital asset firms achieving sustained profitability.
Q: What are the risks associated with forward-looking statements?
A: Forward-looking information involves risks including market volatility, regulatory changes, integration challenges, and macroeconomic factors. Actual results may differ materially from projections.
👉 Stay ahead of the curve—access real-time data on digital asset trends and institutional flows today.