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Crypto

Wealthsimple to launch Kalshi-based prediction market app in Canada

Canadian fintech company Wealthsimple will launch a Kalshi-based prediction market app, Wealthsimple Predict, this summer. Canadian retail investors will be able to trade about 4,000 event contracts linked to financial markets, economic indicators and climate through the app. CIRO approved Wealthsimple in March to offer prediction market contracts, making it the second investment dealer allowed to do so in Canada. The contracts are regulated as derivatives and have a minimum settlement period of 30 days.

Crypto

AI-driven fund shift puts bitcoin at risk of retesting $60,000

Bitcoin’s failure to regain $67,200 and a 7 percent pullback has revived concerns it could retest $60,000. Cointelegraph said $330 million of leveraged bullish bets were liquidated in the drop. The move diverged from strong tech stocks and was linked to funds shifting into AI, while oil’s fall, steady U.S. jobless claims, and market readings of the Fed’s stance did not translate into bitcoin inflows. Dollar strength and softer derivatives sentiment also weighed.

Crypto

Bitwise CIO says crypto and finance lines to blur as Coinbase strategy draws attention

Coinbase has unveiled an “Everything Exchange” plan spanning stocks, options, prediction markets and AI-driven trade execution, prompting Bitwise to say the boundary between crypto and traditional finance is starting to disappear. Bitwise CIO Matt Hougan said if Coinbase’s future revenue comes mainly from non-spot activities such as stock trading, perpetual futures and options, it may no longer be seen as a pure crypto company. Coinbase also outlined tokenised stock trading outside the United States starting next month and AI tools for automated portfolio strategies.