Ndax Weekly TL;DR Nov 10

• Canada to Introduce Laws Regulating VRCAs Under 2025 Budget
• Economists Say Ottawa’s 2025 Budget May Prompt Further Bank of Canada Rate Cuts
• Google Identifies Five AI-Driven Malware Families Linked to Crypto Theft

Canada’s 2025 federal budget includes plans to regulate value-referenced crypto assets (VRCAs), requiring issuers to maintain sufficient reserves, establish redemption procedures, and adopt robust risk management and data protection standards. The initiative follows similar U.S. legislation and is part of a broader effort to modernize Canada’s payment systems. The Bank of Canada will dedicate $10 million over two years starting in 2026 to oversee the rollout, with ongoing costs covered by licensed issuers under the Retail Payment Activities Act. By introducing a clear framework for VRCAs, the government aims to make digital transactions across the country more secure, efficient, and transparent. Cointelegraph

Economists warn that Canada’s 2025 federal budget may not deliver enough short-term economic stimulus, potentially compelling the Bank of Canada to lower interest rates again. The central bank recently cut its policy rate to 2.25% amid economic strain from U.S. trade tariffs and structural supply chain shifts. However, Capital Economics’ Bradley Saunders noted that most new spending focuses on long-term defence and infrastructure projects, providing limited near-term support for growth. Saunders estimated roughly $9 billion in new net spending for this fiscal year and next, while Bank of Montreal economists put the figure closer to $4 billion. Both analyses suggest the fiscal measures fall short of offsetting weak private demand, increasing the likelihood that the Bank of Canada will need to reduce rates below its neutral range in 2026 to sustain economic momentum. Yahoo Finance

Google’s Threat Intelligence Group has reported the discovery of five AI-enabled malware families that exploit large language models to enhance their attack capabilities in real time. The malware, which queries models like Gemini and Qwen2.5-Coder during runtime, can dynamically generate, modify, or conceal malicious code. The report also attributes several AI-assisted crypto theft operations to the North Korean group UNC1069 (also known as Masan), which has used AI tools to probe wallets and craft phishing scripts. In response, Google has shut down accounts associated with these activities and strengthened its defenses through enhanced API monitoring and prompt filtering to prevent further misuse of its AI systems. crypto news

Ndax's news feature provides the latest news, stories, and trends to help you keep your hand on the pulse of crypto and blockchain.

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News Nuggets

• U.S. Senate to Vote on Government Funding Bill as Crypto Regulation Measure Remains Stalled Cointelegraph
• France Weighs Wealth Tax on Crypto While Considering a National Bitcoin Reserve CryptoSlate
• Michael Saylor’s Strategy Announces €620 Million Preferred Stock Offering to Fund Further Bitcoin Purchases crypto news
• Kazakhstan to Establish $1 Billion State Crypto Reserve Fund Backed by Seized Assets by 2026 The Block
• Japan’s Financial Regulator Backs Banks’ Joint Project to Issue Yen-Linked Digital Payment Tokens Cointelegraph
• Bitcoin Education Program “My First Bitcoin” Ends El Salvador Classes, Shifts to Global Teacher Training Cointelegraph
• Court Rules FBI Not Liable for Erasing Hard Drive Containing $345 Million in Bitcoin Cointelegraph

As of 11-10-2025 at 9:05 AM EDT

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$5.08 trillion to CA$5.03 trillion.
• Bitcoin's market dominance stands at 59.2%, while Ethereum's share is 12.2%. 

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$146K and CA$153K registering a 1.9% change over the past week and a market cap of CA$3 trillion. At Ndax, the weekly movers are FIL, which saw a 63.83% increase in the last seven days reaching a market cap of CA$2.5 billion, and FET, which experienced a 51.95% rise with a market cap of CA$1.3 billion. (At time of writing)

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Nov 11 – APT Token Unlock 
Nov 13 – US Core CPI Announcement 
Nov 13 – AVAX Token Unlock 

This week our new blog, “What Are Crypto Dusting Attacks and How to Avoid Them,” explains how dusting attacks work and why they pose a risk to wallet privacy. To learn more, click here.

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