Institutional crypto asset products saw record weekly outflows of $423M

Canadian investors represented a hefty $487.5 million worth of outflows for crypto investment products, with the figure partially offset by $70 million worth of inflows from five other countries.

Canadian Regulator OSC Takes Action Against Crypto Trading Platforms Kucoin and Bybit

The Ontario Securities Commission (OSC) has taken action against two cryptocurrency trading platforms.

Bitcoin: The cost for maintaining this firm's HODL strategy? 3K BTCs...

Canadian cryptocurrency mining business Bitfarms has sold more than $62 million in Bitcoin in June, using the proceeds to settle its debt.

Canadian Regulator Penalizes KuCoin and Bybit for Violating Securities Laws

As a result, Bybit will temporarily seize accepting new Ontario-based users, while KuCoin has received a permanent ban.

Institutions are exploring the space — KPMG Canada crypto team

Kareem Sadek and Kunal Bhasin said the team had seen “a lot of momentum” around the tokenization of assets but was also considering the potential growth of NFTs and the Metaverse. The Canadian operations of Big Four auditor Klynveld Peat Marwick Goerdeler, or KPMG, may have a role to play in institutions entering the crypto space, according to two team members.Speaking to Cointelegraph at the Collision conference in Toronto on Tuesday, Kareem Sadek and Kunal Bhasin of KPMG Canada’s crypto assets and blockchain services team said the company had added Bitcoin (BTC) and Ether (ETH) to its balance sheet to show others it “had skin in the game.” According to Sadek, holding digital assets was just the first step moving deeper into the crypto space.“We thought it’s better to go through the journey ourselves — show the community we’re part of it, we’re supportive of the community,” said Bhasin.

Canadian regulator takes enforcement actions against Bybit and Kucoin

"Bybit responded to the OSC’s enforcement action, maintained an open dialogue, provided requested information, and committed to engaging in registration discussions," said the OSC. The Ontario Securities Commission, or OSC, issued financial penalties against Bybit and Kucoin, claiming violations of securities laws and operating unregistered crypto asset trading platforms.In a Wednesday announcement, the Ontario regulator said it had obtained orders fining Kucoin more than $1.6 million and banning the exchange from participating in the province’s capital markets.

Bitfarms sold 3K Bitcoin as part of strategy to improve liquidity and pay debts

“Selling a portion of our BTC holdings and daily production as a source of liquidity is the best and least expensive method in the current market environment," said chief financial officeJeff Lucas. Canadian crypto mining firm Bitfarms sold roughly $62 million worth of Bitcoin (BTC) in June, using the proceeds from the sale to reduce its debt.In a Tuesday announcement, Bitfarms said it had sold 3,000 Bitcoin in the last seven days, roughly 47% of the crypto mining firm’s roughly 6,349 BTC holdings.

FTX Acquires Canadian Exchange to Expand its North American Footprints

The latest news came on the heels of the FTX US head Brett Harrison expressing the priority of acquiring regulated crypto firms.

FTX plans to acquire crypto exchange Bitvo as part of move into Canadian market

The company added that the deal was “subject to regulatory approval and customary closing conditions,” but expected to close in the third quarter of 2022. Cryptocurrency derivatives exchange FTX has entered into an agreement to purchase Canada-based crypto platform Bitvo.In a Friday announcement, FTX Trading Limited said it planned to acquire Bitvo as part of the crypto exchange’s effort to offer its products and services to Canada-based users.

The business of a Bitcoin standard: Profit, people and passion for good food

Here’s how the co-founder of a Middle Eastern restaurant convinced his colleagues to upgrade their franchise to a Bitcoin standard. The Canadian restaurant franchise Tahini’s serves Middle East-inspired food with a Bitcoin-inspired twist. Since August 2020, when the price of Bitcoin (BTC) was under $20,000, the group has operated on a Bitcoin standard, with any profits it makes swept into BTC.The Tahini’s Twitter account has since argued that Bitcoin is the “most Islamic” thing Muslims can do with their wealth, and the group educates its customers on sound money.

Two more spot crypto ETFs launch on Australian markets

Both of the new Australian exchange-traded funds by 3iQ Digital Asset Management will feed from its existing Bitcoin and Ethereum ETFs listed on the Toronto Stock Exchange. A further two cryptocurrency-backed exchange-traded funds (ETF) have launched on the Cboe Australia exchange on Monday, bringing the total amount of crypto ETFs available to Australian traders to six.The Canada-based 3iQ Digital Asset Management launched two spot ETFs, the 3iQ CoinShares Bitcoin (BTC) Feeder ETF and the 3iQ CoinShares Ether (ETH) Feeder ETF.Both of the Australian funds feed from the firm’s Canadian ETFs listed on the Toronto Stock Exchange (TSX), the 3iQ CoinShares Bitcoin ETF, and the 3iQ CoinShares Ether ETF.

Binance to Sponsor The Weekend's Upcoming Music Tour

Binance cryptocurrency exchange, the world’s largest crypto exchange platform by trading volume has announced it will be the major sponsor of Canadian hip-hop singer, The Weeknd’s "After Hours Til Dawn" tour.