Tech News
LAST UPDATE: June 21, 2025
Canadian Crypto Firms Struggle to Create First Local Stablecoin
Canadian firms, particularly Stablecorp in Toronto, are facing regulatory hurdles and investor hesitancy in launching a domestic stablecoin, delaying the creation of the country’s first publicly available digital currency.
Insight
Regulatory uncertainty remains a major barrier to crypto innovation. The delay may push activity offshore, risking Canada’s fintech competitiveness unless policymakers clarify frameworks soon.
Keir Starmer’s AI tsar to step down after six months in role
Matt Clifford, architect of the UK’s AI Opportunities Action Plan, will step down in July for personal reasons after only six months. Clifford played a key part in the AI Safety Institute, copyright reform, and government AI policy.
Insight
His departure marks a potential setback for the UK AI agenda. Maintaining momentum on AI policy—particularly growth zones and copyright reform—will require urgent leadership or risk policy drift.
Musk’s xAI Sweetens Debt Offering as Investors Face Deadline
Elon Musk’s xAI increased interest on its $5 billion debt offering—raising the spread to 725 bps over SOFR and deepening the discount—to attract investors amidst lukewarm initial demand.
Insight
The move suggests caution among investors about AI-focused debt risks, prompting xAI to sweeten terms. It reflects ongoing funding challenges even for high-profile AI ventures.
