CryptoSlate » Canada
10 FOLLOWERS
Since 2017, CryptoSlate has been a go-to destination for the fast-moving and nascent digital assets space. With a focus on Bitcoin, DeFi, NFTs, and web3, our goal is to provide a holistic overview of the crypto asset market. Explore the blog and learn about the latest Canada blockchain news, events, and companies from CryptoSlate, a leading destination for cryptocurrency and blockchain news.
CryptoSlate » Canada
1w ago
The Canadian financial sector witnessed a significant uptick in crypto adoption in 2023, according to a recent survey by KPMG in Canada.
Financial firms offering crypto products and services increased by 22% from 2021, while institutional investors incorporating crypto into their portfolios rose by 26% during the same period.
Resurgence
Financial Services: 50% of respondents now provide at least one type of cryptoasset service, increasing from 41% in 2021. Crypto trading, custody, clearing, and settlement services saw substantial growth, with 52% of firms now offering trading services, up from ..read more
CryptoSlate » Canada
2w ago
Bitfarms announced on April 12 that it completed upgrades to its Bitcoin mining facilities in two locations, bringing its total hash rate to 7 EH/s.
The company installed and activated over 5,000 T21 miners at two facilities in Québec, Canada.
Bitfarms installed 3,168 T21s devices at its Garlock, Québec facility, plus 1,710 T21s and 100 M53S+ hydro miners at its Farnham, Québec site. The latest upgrades improve energy efficiency by about 51%.
Geoff Morphy, President and CEO of Bitfarms, emphasized the benefit of efficiency, asserting the “transformative nature of [the] upgrade plan.” He n ..read more
CryptoSlate » Canada
2M ago
Bitcoin miner Argo Blockchain sold one of its sites to repay debt amid its declining BTC production last month.
Argo sells site to repay debt
In a Mar. 5 statement, the miner explained that it sold its Mirabel Facility in Quebec for $6.1 million.
Following the sale, Argo allocated $4 million to settle debts owed to Galaxy Digital, effectively reducing its debt to approximately $14 million as of Feb. 29. This marks a significant 60% decrease from the initial Galaxy debt of $35 million.
Argo clarified that the remainder of the proceeds from the sale were utilized to settle the outstanding mortga ..read more
CryptoSlate » Canada
2M ago
Global digital asset investment products saw significant inflows last week, totaling $2.45 billion.
The latest weekly report from CoinShares confirmed the surge in the inflow of funds into digital asset investment products, which pushed the assets under management to a peak not seen since early 2022, now standing at $67 billion. The US spot ETF market played a pivotal role in this development, capturing $2.4 billion of last week’s inflows.
Bitcoin remains the clear market leader, garnering approximately 98% of total inflows last week. Increased confidence also permeated through to Ethereum, re ..read more
CryptoSlate » Canada
4M ago
Following 11 weeks of consistent inflows into digital asset investment products, outflows totaling $16 million showcased a slight reversal in the market.
The latest CoinShares report highlights this subtle shift in the investment landscape of digital assets. The overall trading activity for the week stood at $3.6 billion, significantly higher than the year-to-date average of $1.6 billion. Despite the recent outflow, this robust trading volume spotlights a continued interest in the market.
CoinShares Weekly ETP fund flows chart.
Even in the face of a seemingly imminent spot Bitcoin ETF approval ..read more
CryptoSlate » Canada
5M ago
The total value of assets under management for crypto-related investment products surged 107% to $46.2 billion on the heels of the tenth consecutive week of inflows recorded by these products.
Per CoinShares’ weekly report, crypto products recorded a robust inflow of $176 million during the past week, bringing its total for the 10-week influx to an impressive $1.76 billion. The asset manager noted this sustained influx is the most substantial since Oct.2021, coinciding with the launch of a futures-based ETF in the United States.
Notably, these inflows have amplified Exchange Traded Products (E ..read more
CryptoSlate » Canada
5M ago
Last week saw a remarkable influx of capital into digital asset investment products, amounting to $346 million, according to CoinShares’ most recent data.
This figure represents the most significant weekly inflow in a consecutive nine-week run and marks a pivotal point last seen during the bull market enthusiasm of late 2021. According to the reported figures, the inflow spike has propelled the total assets under management (AuM) to a staggering $45.3 billion, the highest in over eighteen months.
Canada and Germany accounted for 87% of the total, with inflows of $199.1 million and $101.5 milli ..read more
CryptoSlate » Canada
7M ago
3iQ, Canada’s first Bitcoin (BTC) fund issuer, revealed that its Ethereum-based (ETH) exchange-traded funds (ETF), The Ether Fund and the 3iQ Ether Fund, will begin staking their ETH holdings for rewards, according to an Oct. 19 statement.
3iQ explained that its move towards staking was designed to provide its investors with “additional yield generated by dedicated validators on the Ethereum network’s Proof of Stake (PoS) consensus mechanism while eliminating the complexities of directly handling digital assets.”
“The Funds will earn rewards in the form of ETH, which will be reflected in the n ..read more
CryptoSlate » Canada
8M ago
No newcomer to the world of blockchain and cryptocurrencies, Alex Tapscott, has a decorated history in the blockchain world. He has co-authored an international bestseller on the subject, founded a blockchain research think tank, and, as Managing Director at Ninepoint Partners, Tapscott has brought digital assets to markets in his native Canada.
His new book, Web3: Charting the Internet’s Next Economic and Cultural Frontier—out today from HarperCollins—follows his 2016 bestseller Blockchain Revolution by providing a lucid account of the major themes in the Web3 sector today for a mass audience ..read more
CryptoSlate » Canada
9M ago
Coinbase is discontinuing its support for Tether (USDT), DAI, and RAI for its Canadian users, effective August 31. The news was first reported by Cointelegraph, citing a customer email it had reviewed dated Aug. 17.
The exchange wrote to customers that, as a result of a recent review, trading of these stablecoins would be inaccessible to Canadians from September 1 onwards. However, Canadians will still be able to deposit and withdraw these stablecoins after the deadline.
Coinbase in Canada
The suspension comes amid Coinbase Canada, Inc.’s ongoing efforts to secure registration in specific Cana ..read more