From Crypto to Cause

Range Rover & SHARP

Karia Samaroo has basically done it all — seriously, check the résumé.

Previously a capital markets lawyer specializing in corporate securities, the Vancouver-based entrepreneur, attorney and executive co-founded First Coin Capital, a blockchain investment bank acquired by Galaxy Digital. He later served as general counsel and CCO at Galaxy Digital Canada and First Block Capital, a cryptocurrency fund manager acquired by 3iQ. Samaroo has advised Netcoins, Hut 8, FINTRAC and the British Columbia Securities Commission on fintech matters.

He also co-founded footwear brand FR33DOM, deepfake detection platform BitMind and founded Atlas One Digital Securities, while advising Flair Airlines and BIGG Digital Assets.

Perhaps his most pivotal role to date has been as co-founder and CEO of WonderFi, a cryptocurrency company launched in 2021 to operate, incubate and invest in the global digital asset ecosystem. The company entered a competitive market under increased regulatory scrutiny following the Quadriga scandal, where many Canadians lost funds in a collapsed exchange.

“What we saw was an opportunity to consolidate the crypto exchanges in Canada,” Samaroo says. “There were a lot of different companies competing for the same customers, and the customers didn’t really care about the brand — they just wanted something that was safe and easy to use.”

Under Samaroo’s leadership, WonderFi expanded into stocks, ETFs, staking, gaming and international markets, including the UK, Australia and the US. He assembled a diverse executive team with expertise in crypto and traditional finance, promoted female representation and positioned WonderFi as a compliant digital asset ecosystem.

Key investor Kevin O’Leary reduced customer acquisition costs and facilitated $250 million in mergers, including Bitbuy, Coinberry and Blockchain Foundry, consolidating Canada’s crypto market. WonderFi became the country’s largest crypto platform with two million users and $1.5 billion in assets under custody.

“I had a lot of experience working with Canadian regulators and saw a bit of a different path to getting us where we wanted to be,” recalls Samaroo. “I think that my background as a lawyer in the crypto space was super helpful. Those were the two biggest challenges that we overcame: competition and regulatory.”

The Dalai Lama’s quote, “Learn the rules so you know how to break them properly,” is the perfect reflection of Samaroo’s approach. As a lawyer, he mastered legal complexities, thriving in regulated settings and learning from top entrepreneurs. His style evolved by adopting effective methods and avoiding ineffective ones. He quickly saw the futility of worrying about product perfection, co-founder fit, timing, or market conditions, as hesitation only slows progress.

“I’d say if there’s one characteristic that’s common among all [the] people I admire or try to emulate, it’s minimal hangups and maximum speed,” he explains. “It all starts with speed. Speed is everything. Being able to move quickly is paramount.”

“Big business gets away with exploiting people. They’ve cleverly shifted this burden and the moral obligation onto the consumer when, in reality, I think it’s the company that should be the one that we’re looking at.”

Karia Samaroo

Samaroo resigned as CEO in October 2022 but stayed on WonderFi’s board to support its strategy and growth. As a co-founder and one of the few people of colour leading a public company, his role reflects a key industry milestone linked to his evolving identity.

Formerly Ben Samaroo, he changed his name to Karia after a decade of reconnecting with his heritage. Born to a Guyanese father and Kenyan mother who immigrated to Canada in 1989, his journey began at 14 when the slur “coolie” revealed his family’s history of forced migration from India as indentured servants. His grandfather’s transition from slavery to freedom in the British Caribbean strengthened his resolve.

In 2022, disillusioned by Britain’s colonial legacy, he renounced his British citizenship after Queen Elizabeth II’s death. Discovering “Karia” means “free man,” he adopted the name to help future generations preserve their heritage.

“Karia was a name that was lost along the way on all this migration, but it just felt really significant to me. I decided to reclaim it,” Samaroo says. “It’s more of a symbolic thing for me and I think it will be useful to carry that name forward.”

Samaroo advocates for social justice and business accountability, emphasizing underrepresented communities. He argues companies, not consumers, should be responsible for their actions. With 50 million people still enslaved globally, according to the UN’s International Labour Organization, he sees this as a critical freedom issue and calls for scrutiny of businesses perpetuating it.

“I think this is a way that big business gets away with exploiting people. They’ve cleverly shifted this burden and the moral obligation onto the consumer when, in reality, I think it’s the company that should be the one that we’re looking at.”

He compares large corporations to modern slave owners, exploiting vulnerable populations with little accountability. His visits to Nepal and India, where he met with non-profits, survivors and experts, along with reflections on his ancestors under British colonial rule, deepened his understanding. Despite supply chain complexities, he insists corporations must engage more directly with affected communities.

“It’s really easy to think we can throw money at this problem and solve it. That’s simply not true,” Samaroo asserts. “It takes time and understanding and listening to do that.”

The emerging activist notices that like-minded collaborators now seek him out, partly due to his name change. Though unintended, the new name often surprises and piques curiosity. Shared experiences, like migration, can deepen connections, with some finding it unusual and others relating on a deeper level.

“That opens up great conversations. I’ve connected with a lot of people that are doing really cool stuff just kind of by virtue of putting that out there.”

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