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crypto market is in a tight bear hug and market mavens believe that crypto winter is likely to last longer than what was expected. The gloom in the crypto market has turned firms operating in the space risk aversive. Many of them are looking to trim their payroll size in order to conserve funds amid a freefall in the digital token market. Not only this, even stringent taxations and regulatory frameworks are hurting crypto players. The pessimism has affected deal size and volumes in the crypto industry.

Strength in the energy sector helped buoy Canada’s main stock index to close flat on Wednesday while U.S. markets moved lower.

Losses in the base metal and utility stocks helped lead Canada’s main stock index lower in late-morning, while U.S. stock markets were up to start the trading week.

Canada’s main stock index was down nearly 100 points, as losses in the technology sector helped lead the way lower, while U.S. stock markets fall fell in late-morning trading.

Canada’s main stock index posted modest gains Wednesday as strength in energy and technology, among other sectors, helped outweigh weakness in base metals, while U.S. markets were mixed.

cryptocurrency trading platform Coinswitch, which is funded by the likes of Tiger Global and Andreessen Horowitz, is planning to foray into Indian stock trading. This will see it go toe-to-toe with new-age investment players like Zerodha, Groww, Upstox, and Paytm Money. The company had earlier announced its plans to offer conventional investment products like mutual funds, US stocks, etc., widening its scope beyond cryptocurrencies, which have taken a battering over the last few years. Even though the price of bitcoin has recovered in the last six months, it is still half the highs it hit in November 2021. “The company is planning to apply for a stockbroker’s licence with SEBI (Securities and Exchange Board of India). There are also conversations going on with non-banking financial companies (NBFCs) and banks for offering fixed deposits,” a person aware of the matter said. For Coinswitch, the focus turned to Indian stocks after its plans to enable retail investment in US stocks were put on the backburner following the hike in tax collected at source (TCS) on foreign remittances under the Liberalised Remittance Scheme (LRS).

At Monday's high of $47,765, market leader bitcoin broke above the narrow $34,000-$44,000 range it's traded in for most of 2022. Through a steady grind higher from a low just above $40,000 on March 21, it has gained 18%. Its comparative steadiness, versus previous performance at least, contrasts with stock markets, traditional currencies and even safe-haven gold, which have been shaken by the Russian invasion of Ukraine as well as the Federal Reserve's tightening.