Who’s buying crypto in Canada, and why? + MORE Nov 19th

Despite crypto’s extreme volatility, nearly one in three Canadians (31%) said they planned to buy crypto assets in the next 12 months, according to a recent survey. And 11% said they definitely will.

The survey by the Ontario Securities Commission found that 13% of Canadians currently hold digital assets such as cryptocurrency (think bitcoin or ethereum) or non-fungible tokens (NFTs). While that might seem like a small minority, more than double that amount intend to buy the assets this year, as mentioned above. Younger Canadians (aged 18 to 34), men, people with a household income of $100,000 or more, and those who had seen crypto ads were more likely to say they intended to buy.

Among survey respondents, many of those who hold crypto assets learned about them from friends, family or colleagues, followed by social media influencers and/or experts in blockchain technology (the decentralized digital ledgers that record crypto transactions).

Traditional institutional investors and financial services firms have started to adopt crypto assets, mostly indirectly, such as through ETFs…

Why FTX’s collapse conjures nightmares from 2008′s global financial crisis – and fears of crypto pyramid schemes  The Globe and MailFTX collapse spurs calls for lawsuit, crypto regulation  Global NewsNew FTX CEO describes ‘unprecedented’ financial disaster  The Globe and MailChristine Duhaime: The wild FTX Ponzi scheme touched Vancouver  Business in VancouverA bit more fear, uncertainty and doubt about crypto is welcome  Financial TimesView Full Coverage on Google News