Mitchell Demeter is a Canadian serial entrepreneur and a pioneering figure in the cryptocurrency industry, active since 2013. He is widely recognized for co-launching the world's first physical Bitcoin ATM in Vancouver, co-founding the digital currency exchange Cointrader, and leading the publicly traded cryptocurrency platform Netcoins as its President and CEO. He also briefly served as the CEO of Sonic Labs, a company developing decentralized infrastructure for gaming and AI. Demeter is a recipient of Business in Vancouver's "Forty Under 40" award for his contributions to the technology and financial sectors. ^{[1] [2]}

Career

Early Ventures and Entry into Cryptocurrency

Mitchell Demeter entered the cryptocurrency industry in 2013, driven by an interest in Austrian economics and the principle of sound money. He was particularly drawn to Bitcoin's limited supply, which he saw as a favorable alternative to the "unlimited" supply of fiat currencies, a view reinforced by government money printing during the COVID-19 pandemic. After experiencing firsthand the difficulty of purchasing Bitcoin in its early days, he decided to dedicate his career to making digital assets more accessible. To fund his new ventures, he sold a previously successful business. ^[1]​

In this early period, Demeter founded Cointrader, one of Canada's first online digital currency exchanges. He also co-founded Bitcoiniacs, a Vancouver-based cryptocurrency brokerage that would become the vehicle for his most famous early achievement. ^{[2] [1]}​

The World's First Bitcoin ATM (2013)

In October 2013, Demeter and his partners at Bitcoiniacs made history by deploying the world's first physical Bitcoin ATM. The machine, a Robocoin model, was installed in a downtown Vancouver coffee shop. It allowed the general public to easily buy and sell Bitcoin using traditional currency, providing a tangible and user-friendly on-ramp to the digital asset ecosystem. ^{[2] [3]}

The launch was a landmark event in cryptocurrency's history, significantly boosting public accessibility and awareness. It garnered substantial global media attention, with features in publications like Wired, Time, and Forbes. Following the success of the Vancouver ATM, Demeter expanded the network through partnerships, establishing additional locations in cities including London, Singapore, Bucharest, and Tokyo. ^[1]

Netcoins (2014 – c. 2024)

In 2014, Demeter co-founded Netcoins with the mission to make buying and selling cryptocurrency simple and widely available. The company initially operated as a "virtual Bitcoin ATM" solution. This model grew into a large network with over 170,000 retail locations across multiple countries where users could purchase cryptocurrency in person. ^[2]​

Demeter, who served as President and later as CEO, led a major strategic pivot for the company. He transformed Netcoins from its virtual ATM network into a comprehensive, 24/7 online cryptocurrency trading platform. His vision was to "take the cryptic out of crypto and make it fun, approachable and easy to understand." ^[1]​

Under his leadership, Netcoins was acquired by BIGG Digital Assets Inc., a company listed on the Canadian Securities Exchange (CSE: BIGG). This move was instrumental in Netcoins becoming Canada's first publicly traded and fully regulated crypto trading platform, a significant step in legitimizing the digital asset industry within Canada's traditional financial and regulatory frameworks. Demeter continued to lead the company as President and CEO after the acquisition, overseeing its growth and operations. ^{[3] [2]}​

Other Ventures and Board Roles

Throughout his career, Demeter has been involved with various companies in both the technology and public market sectors. He has served on the boards of several public companies and has acted as an advisor to multiple blockchain projects, working closely with large institutional investors. ^[3]​

Notably, he served as the President of Skylight Health Group, a U.S.-based healthcare services and technology company. He was also involved in the formation of SonicStrategy, a publicly traded digital asset treasury company with a strategic focus on the Sonic ecosystem. ^[3]​

Sonic Ecosystem Leadership (2024 – 2026)

Demeter's career included leadership roles within the Sonic ecosystem, which comprises Sonic Labs and SonicStrategy. Initially, he served as the CEO of SonicStrategy. In September 2025, he transitioned from that role to become the company's Executive Chair, a position where he continued to provide strategic guidance on capital markets development. ^[4]

In mid-2024, announcements were made regarding Demeter's appointment as the Chief Executive Officer of Sonic Labs, the research and development firm behind the Sonic protocol. The appointment was later formalized in September 2025. Sonic is a high-performance Layer 1 blockchain built on Solana, featuring the Sonic SVM (Solana Virtual Machine), designed to "bring decentralized gaming to the masses." The project raised $12 million in a Series A funding round led by BITKRAFT Ventures before its mainnet launch in December 2024. ^{[1] [3] [4]}

As CEO of Sonic Labs, Demeter was tasked with leading the company's global go-to-market strategy, driving the adoption of its technology, forging institutional partnerships, and expanding its ecosystem of gaming and AI applications. His stated goal was to make on-chain gaming as accessible as he had made crypto in his earlier ventures. ^[2] Upon his appointment, Demeter stated, "I am honored to join Sonic Labs at such a pivotal time... The convergence of gaming, AI, and blockchain technology represents an unprecedented opportunity to create more immersive, equitable, and player-centric experiences." ^[1]

​Chris Zhu, the founder of Sonic Labs, commented on the appointment, stating, "Mitchell’s unparalleled experience in both the crypto and capital markets makes him the ideal leader to guide Sonic's next phase of growth... His expertise will be invaluable as we launch our mainnet and expand our institutional footprint." ^[3]

On February 20, 2026, Demeter announced on his X (formerly Twitter) account that he had departed from his role at Sonic Labs. He described his tenure as "brief" and wrote, "I’m grateful for the experience and wish the organization all the best." ^[2]

Philosophy and Views

On Economics and Entrepreneurship

Demeter believes that "sound money is ultimately more beneficial for society" and advocates for the principles behind Bitcoin's limited supply. He has expressed a clear philosophy on entrepreneurship, emphasizing a long-term perspective over the pursuit of short-term wins. He advises patience, focus, and adhering to the mantra, "Done is better than perfect." ^[1]

One of his guiding principles is a quote from Stephen Richards: "If you do what everyone does, you will get what everyone else gets." ^[1]

On Success and Learning

Demeter defines success not just by financial metrics but as "the ability and resources to create the life and businesses you want." He links true success to personal freedom, making a positive impact, and achieving individual fulfillment. A proponent of continuous learning, he has recommended the Coursera course "Learning How to Learn," highlighting its importance for entrepreneurs navigating complex and evolving industries. ^[1]

Awards and Recognition

In 2020, Mitchell Demeter was recognized by Business in Vancouver with its prestigious "Forty Under 40" award, which honors the achievements of British Columbia's top young entrepreneurs, executives, and professionals. ^{[1] [3]}

His pioneering work in the cryptocurrency space has been featured in numerous international media outlets, including Forbes, Wired, Time, Fast Company, Huffington Post, and RT. ^{[1] [4]}