A bitcoin buyout: Coinsetter acquires Cavirtex

Fortune

You may think the bitcoin industry is barely getting started, still in its infancy. But the space is already consolidating.

Coinsetter, a New York-based bitcoin exchange aimed at Wall Street traders, announced Wednesday that it has acquired Cavirtex, a Canadian bitcoin exchange. « We expect to do and see more of this, » said Coinsetter CEO Jaron Lukasiewicz. « I look at this as the beginning of a broader consolidation of the space. »

Cavirtex — the name is a portmanteau of Canadian Virtual Exchange — has a checkered recent history. The site was victim of a hack in February and had to hastily shut down operations. Another Canadian bitcoin exchange, Vault of Satoshi, had shut down one month earlier.

Now Coinsetter is bringing Cavirtex back (the site reopens for trading today under the same name, but with a redesigned home page) primarily as a play for Canadian bitcoin traders, who Lukasiewicz believes have…

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