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Halving is when the amount of bitcoin awarded for mining is cut in half. Mining is a metaphor for how bitcoin goes into circulation — put simply, computers run formulas to verify the code that keeps bitcoin transactions secure, and get shiny new bitcoin as a reward for their work. The reward is currently 6.25 bitcoin and will be cut to 3.125.
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It’s easy to mock LinkedIn for its “hustle culture” posts and toxic corporate positivity, but that’s exactly what’s making the company a lot of money.
The DNA test kit that once made Oprah’s list of favourite things (alongside sheepskin slippers and pre-made chicken pies) has fallen on tough times.
What happened: 23andMe CEO Anne Wojcicki is planning to take the company private following a disastrous three years, during which its valuation crashed ~98%. The company’s stock has fallen so far that it has been on the verge of being delisted from the Nasdaq.
The only thing more impressive than the players' soon-to-be-grown playoff beards is the total at the bottom of the NHL balance sheet this year.
Driving the news: The NHL playoffs are kicking off this weekend, but the league is already set to walk away as the real winner — though it won’t be hoisting a silver cup — after raking in a record US$6.2 billion this season thanks to a number of lucrative sponsorship deals.
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*Spoken in the worst Tony Soprano impersonation you’ve ever heard* You think La Casa Nostra don’t have a piece of da pie in da Great White North? Ayyy, fuhgeddaboudit!
Driving the news: A faction of the infamous 'Ndrangheta Italian mafia allegedly laundered money through TD and RBC branches in Ontario after a suspected leader made connections with bank employees, according to reporting by the Toronto Star and other media outlets.
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The feds are hoping Canada’s top pension funds will consider spending a little more of their ~$2 trillion in assets at home.
Driving the news: Ottawa is enlisting former Bank of Canada governor Stephen Poloz to spearhead a new working group tasked with getting Canadian pension funds to invest more in their own backyard, particularly in housing and infrastructure.
Business at Adidas is booming this year. If you’re wondering why, just go for a walk around town and count how many pairs of Sambas you see walking the street.
What happened: Shares in the German sports giant hit a two-year high — fully recovering from the financial tumult caused by their break-up with Kanye West in 2022 — after a smashing first quarter led by sales for its retro Samba, Gazelle, and Campus sneakers.
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After one of its worst seasons in franchise history, Canada’s only NBA team now has the indignity of seeing one of its players kicked out of the league.
Driving the news: Toronto Raptors player Jontay Porter has received a lifetime ban from the NBA after an investigation found he broke the league’s gambling rules by betting on games and, more seriously, manipulating games that he played to benefit sports bettors.
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The government’s plan to support Canada’s innovation sector is less about opening its own wallet and more about sparking investments from elsewhere.
