Canadian Crypto Firms Struggle to Create First Local Stablecoin
A Toronto-based startup backed by Coinbase Global Inc. made a filing with regulators this month asking for approval to create the first publicly-available stablecoin backed by the Canadian dollar. The company, Stablecorp Digital Currencies Inc., asked the Ontario Securities Commission to approve its QCAD product a month after announcing backing from Coinbase Ventures.
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Hodgson 'hopeful' first batch of major projects announcements to start in fall
OTTAWA — Natural Resources Minister Tim Hodgson said he is "hopeful" that the government will start announcing major infrastructure project approvals in the fall. In an interview with The Canadian Press, Hodgson said the federal government has been busy consulting with stakeholders over the summer and has been quietly getting a new major projects office set up to deal with companies hoping to build large-scale projects. When pressed what "fall" means, since Parliament's fall sitting is scheduled to run from Sept. 15 to Dec. 12, Hodgson would not be more specific, but said Prime Minster Mark Carney "doesn't like sitting around" and that the government intends to move quickly. "We did not take the summer off, we got to work right away," he said. ""The prime minister and the team have been very, very busy, so we would prefer sooner rather than later and it'll be in the fall." It's been just over seven weeks since the Liberal government rushed the Building Canada Act through Parliament in June, which lets Ottawa quickly approve major projects it considers to be in the national interest. Carney has said the office that will deal with these large-scale industrial projects should be stood up and fully running by Labour Day, though the government has so far made few details about this new office public, such as how many people will staff it. The natural resources minister said he's been in talks about a range of projects but would not disclose any details. "We've talked about all kinds of projects," he said. "We have significant generation projects, be they wind, onshore, offshore, be they natural gas, LNG, be they decarbonized oil, be they nuclear — there's all kinds of potential projects being looked at." Hodgson also said he's strongly interested in advancing critical minerals projects — the mining of key minerals and metals that are important components of modern technology, ranging from electric vehicle components to advanced military gear. "Critical minerals is an extremely significant part of my portfolio and something that's a real priority given the geopolitical and economic challenges of the world right now. It's something we're spending a lot of time on." The new law gives the federal government sweeping powers to speed up permitting when the government determines a project to be in the national interest. The law sets out that the government can consider five criteria when making that determination: whether a project will strengthen Canada's resilience and security, provide economic or "other benefits" to the country, have a "high likelihood" of success, advance the interests of Indigenous peoples and contribute to "clean growth." However, Ottawa has not yet publicly revealed the names of any such projects that it is considering to fast track like this. This report by The Canadian Press was first published Aug. 20, 2025. Kyle Duggan, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Bitcoin Giant Strategy and Coinbase Lead Crypto Stock Slump
Shares in leading publicly traded crypto companies and digital asset treasuries like Strategy (MSTR) and Coinbase (COIN) dropped after the opening bell on Wednesday before rebounding to 1.95% and 0.5% gains, respectively. But over the last month the pair have experienced extended losses, falling nearly 20% and 27% respectively. They're underperforming crypto majors like Bitcoin and Ethereum, which have respectively fallen 3.7% and gained 13.4% over that timeframe. For Strategy, it marks the lowest shares have traded since April. While the drops coincide with a broader crypto market selloff, potentially due to concerns over inflation and other macroeconomic data, crypto-related equities are lagging behind broader indices like the Dow Jones and S&P 500. Both are up about 1% on the month. 'Just like crypto assets, crypto equities can be volatile. Add onto that the broader uncertainty investors are navigating around where tariffs, interest rates, and other macroeconomic factors are headed, and it's a clear recipe for even more volatility,' Bitwise Head of Research Ryan Rasmussen told Decrypt. 'I'd add that crypto equities typically have a high beta to major crypto assets like Bitcoin, so it's no surprise that they've underperformed amid the Bitcoin pullback,' he added. 'Digital asset treasury companies even more so, given their business is inherently tied to the value of the underlying crypto assets they invest in.' By high beta, Rasmussen means that crypto equities, particularly those tied to digital asset treasuries, typically carry a higher volatility when compared to crypto majors It's not just crypto's most established equities that have suffered some recent underperformance. Robinhood (HOOD) briefly fell below $100 before rebounding to $104.53 on Wednesday. The mobile brokerage turned wide-ranging trading app is now down more than 11% from its recent all-time high of $117.70. Crypto Market in 'Fear', But Ethereum, Solana and Chainlink Stay Strong: Analysis Ethereum-focused treasury firms BitMine Immersion Technologies and SharpLink Gaming have bucked the trend by rising on Wednesday, but both are down more than 10% across the last five trading days. A trio of recent crypto IPOs are also down over the last 5 trading days, led by Bullish (BLSH) falling 35% and Circle (CRCL) and eToro (ETOR) dropping 7.5% and 4.8%, respectively. Bullish, the most recent of the bunch, quickly jumped to more than 3x its IPO price of $37 when shares hit the market last week. But it has now pulled back nearly 50% in just a few days of trading, mounting significant losses for any late entrants on IPO day. But Rasmussen said he expects the crypto IPOs to find their footing as the market gap that existed since Coinbase's IPO led to 'considerable pent-up demand for crypto companies.' 'Investors typically get excited about new entrants to the market, and crypto equities are no different,' he told Decrypt, adding that despite the recent downturn, yearly performance points to the fact that investors aren't ignoring established crypto equities. 'Some of these crypto companies—like Coinbase—have proven their resilience, battle-tested in the last crypto winter,' said Rasmussen. 'That's a valuable and important factor for many investors wary of crypto's potential for boom and bust cycles.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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How To Spot and Cut Budget Busters
Budgets are only as good as your ability to follow them. Some habits can act like frequent budget busters, draining away valuable income and leaving you wondering where all your money went. Read Next: Check Out: Consumer finance and shopping experts explained how to spot and cut the biggest budget busters in your spending routine. Falling Into Lifestyle Creep A common way to bust your budget is to fall into lifestyle creep, where you start spending more as your income increases, according to Andrea Woroch, consumer and money-saving expert at Andrea Woroch. 'This can trap you into a paycheck-to-paycheck cycle, cause you to take on debt and keep you from reaching various goals,' she said. Explore More: Falling for FOMO Similarly, FOMO (fear of missing out) can also lead to unnecessary spending, and social media is rife with this. Woroch cited a Bread Financial study that found that 62% of younger consumers admit to spending unnecessary money to keep up with trends they see online and 79% say social media influences their guilty-pleasure purchases. 'It's important to understand how social media influences your spending decisions and avoid unnecessary spending,' she said. She recommended unfollowing anyone who influences excessive purchases and deleting payment information stored on Instagram and other social media platforms. FOMO can also exist among friends and family who are spending on a pricey activity or dining out. 'If that's the case, politely decline and come up with alternative and less costly plan to spend time with friends or family,' Woroch advised. Paying High Interest on a Revolving Balance If you're using credit with the idea that you'll pay it off 'someday' but not getting ahead, you're in danger of racking up high balances with high interest fees, Woroch pointed out. 'As interest fees add up, it will feel impossible to pay down your balance and those useless fees can bust your budget and keep you from reaching your financial goals.' If you have good credit, however, you may be able to get ahead of your debt by using a balance-transfer card, which offers zero interest on the debt you transfer for a year or more. She recommended comparing balance transfer cards at reputable sites and looking for the option with the longest no-interest term period. Spaving If you've ever bought something just because it's on sale or spent more to get a bigger discount, you've fallen for a common retail trap called 'spaving,' Woroch explained. 'Those who don't manage this unnecessary spending will bust their budget quickly.' To nip this bad spending habit quickly, identify triggers that lead to impulse purchases, she said. For example, if you can't resist a sale, delete shopping apps on your phone and unsubscribe from e-newsletters. Use for mass unsubscribes. Paying For Services You Don't Use Another budget buster is autopay, in which you might trade convenience for wasteful spending if you aren't paying attention to your recurring bills, Woroch said. She shared that as many as 42% of consumers pay for a subscription service they forgot about and don't use. 'Scrutinize your monthly expenses and cancel any services you don't need,' Woroch said. This could mean getting rid of extra movie channels in your cable plan, downgrading your data plan and nixing some video streaming services in favor of free digital streaming through your local library. 'Use apps like Trim to manage subscriptions better.' Low Costs That Add Up Purchases at Dollar Tree or other budget stores may seem like a deal at the time, but according to Judy Ta, a business, career and financial coach as well as the host of the podcast 'Munchies and Money Moves,' even low-cost items that are purchased frequently add up. 'I've met tons of people who think 'it's only a few dollars' but this just perpetuates a habit and behavior where you don't understand the cumulative effect or impact until it's too late,' Ta said. Make Slow Changes Acknowledging that you need to change your habits is often the hardest step. 'People often already know the answer but don't understand how to go about it,' Ta said. 'They feel like they have to give up cold turkey but they don't. They just need to start somewhere and create small habits that will add up over time.' She doesn't recommend you quit your spending 'cold turkey,' because all-or-nothing changes don't tend to stick. Instead, start with 'mindset and reflection exercises' where you pay attention to your spending habits and why you're buying things. Then institute regular, slow changes. More From GOBankingRates New Law Could Make Electricity Bills Skyrocket in These 4 States I'm a Self-Made Millionaire: 6 Ways I Use ChatGPT To Make a Lot of Money 5 Strategies High-Net-Worth Families Use To Build Generational Wealth 5 Cities You Need To Consider If You're Retiring in 2025 This article originally appeared on How To Spot and Cut Budget Busters
