PANews reported on September 29th, according to Decrypt, that Sonic Labs, the team behind Sonic, has appointed Mitchell Demeter as its new CEO. Demeter will lead Sonic Labs into its next phase of global growth. His responsibilities include expanding developer and ecosystem adoption worldwide, strengthening institutional relationships, and building bridges to US and global capital markets. Michael Kong, who led Sonic Labs (formerly Fantom) to its current stage, will continue to actively participate in the company's leadership as a member of the board of directors and Chief Information Officer.

It is reported that Mitchell Demeter launched the world's first Bitcoin ATM in Vancouver and co-founded Cointrader Exchange, one of Canada's earliest digital currency trading platforms.