Karsten Wenzlaff, Advisor
August 26th, 2025
AI | Aug 14, 2025

Image: Freepik/pikisuperstar
On August 12, 2025, AI search giant Perplexity stunned the tech world with a bold $34.5 billion bid for Chrome, adding to the mounting antitrust pressure currently facing Google. Now Chrome, the world's most widely used browser with over 3 billion users is at the center of regulatory discussions that could force Google to sell Chrome after a US federal judge ruled the company maintains an unlawful monopoly in online search.
Perplexities proposal however is unlikely to succeed immediately, as regulators weigh remedies that could drastically change the browser market, expand competition, and challenge Google’s dominance.
Founded in 2022, Perplexity is currently valued at $18 billion USD (July 2025) and built a reputation as one of the fastest growing AI companies. Its platform processes hundreds of millions of monthly queries and recently launched an AI driven web browser called Comet.
According to a term sheet seen by Reuters, Perplexity's bid promises to keep Chromium open source, invest $3 billion over two years and make no changes to Chrome’s default search engine (preserving user choice).
Aravind Srinivas, CEO Perplexity, said the offer to buy Chrome was “designed to satisfy an antitrust remedy in highest public interest by placing Chrome with a capable, independent operator.” It's certainly a bold move, highlighting AI's role in the future of internet access.
The bid is closely aligned with findings from the US Department of Justice's antitrust case where Judge Amit Mehta has ruled that Google’s agreements with device makers and carriers unlawfully entrenched its dominance in search.
Potential remedies are still being reviewed and could include a forced sale of Chrome. The possibility has already attracted interest from OpenAI, Yahoo, and Apollo Global Management.
Some analysts argue that Chrome’s integration with Google’s ad ecosystem and its dominant market share could justify a higher valuation than Perplexity’s offer. Others see the move as a calculated play to raise Perplexity’s visibility ahead of any divestiture decision. A forced sale could become one of the largest transactions in tech history and alter how billions of users access and navigate the web.
Google has offered no sign that it's prepared to sell Chrome and is expected to appeal any divestiture order, which could delay a resolution for years. Google CEO Sundar Pichai testified at a U.S. antitrust trial that forcing the company to share search data with rivals would give away its intellectual property, hurt innovation, and make it easy to copy Google Search. Google says any forced sale of Chrome would threaten user privacy and cybersecurity, and damage complementary services, partners, and competition, and it plans to appeal if it loses.
This case is a reminder that entrenched market dominance in digital infrastructure can face real legal challenges in countries that take competition seriously, and that strategic timing matters when entering regulated, high barrier markets. A forced sale of Chrome could set precedent for similar actions in fintech, payments, and AI driven services, creating risks and opportunities for companies ready for the next iteration of the internet.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Aug 14, 2025

Image: Freepik/pikisuperstar
In the competitive world of Canadian online casinos, attracting new players is only half the battle—keeping them engaged and satisfied is equally important. Loyalty and VIP programs are the industry’s answer to long-term player retention, offering rewards, perks, and exclusive benefits to those who play regularly.
These programs are more than just marketing tools; they’re a way for casinos to build relationships with players, enhance the gaming experience, and reward consistent participation.
A loyalty program in an online casino is a tiered rewards system where players earn points or credits based on their wagers and activity. Over time, these points can be exchanged for bonuses, free spins, cashback, or other rewards.
A VIP program is typically invite-only or reserved for high-stakes players. VIP status brings more personalized perks, often including account managers, faster withdrawals, and unique event invitations.
Canada’s online casino market is provincially regulated in some areas (like Ontario via iGaming Ontario) while offshore casinos also serve Canadian players. Both regulated and international platforms use loyalty and VIP programs to stand out in the competitive space.
While rewards are attractive, it’s essential for players to gamble responsibly. Canada offers several tools and services, including:
Loyalty and VIP programs in Canadian online casinos offer players more value for their time and money, creating a mutually beneficial relationship between player and operator. Whether it’s collecting points for free spins or enjoying the perks of an exclusive VIP tier, these programs add an extra layer of engagement to the gaming experience.
However, players should always weigh the rewards against their gambling budget, ensuring the pursuit of perks never overshadows responsible play.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Regulatory Consultation | Aug 13, 2025

Image: Freepik/DC Studio
On August 12, 2025, the Canadian Investment Regulatory Organization (CIRO) announced proposed changes for consultation to update rules for Order Execution Only (OEO) dealers, which are digital-first platforms, such as Questrade, Wealthsimple Trade, MogoTrade, or RBC Direct Investing. The proposal would allow a wider range of tools for use, as long as safeguards like clear disclaimers and conflict avoidance measures are in place.
Currently, OEO dealers are allowed to let clients place trades but they are not allowed to provide investment advice. Current restrictions limit these dealers from offering features such as sample portfolios, self assessment tools, or certain educational supports, to avoid triggering “recommendations.”
Today, non CIRO fintechs and investor education organizations can offer self assessment tools, model portfolios, and interactive investor education features because they are not registered dealers. CIRO regulated dealers operate under strict rules, which can hold back innovation. The proposed changes could help close this gap by allowing regulated CIRO platforms to provide more engaging and competitive resources to DIY investors.
One motivation for the proposed rule change is the sharp increase of retail investors turning to social media, forums, and finfluencers for guidance. CIRO has warned that unverified online information can expose investors to serious risks. Expanding what regulated platforms can offer would give DIY investors more access to credible, compliant sources of information and reduce reliance on potentially misleading content.
CIRO is accepting comments on the proposal until November 10, 2025 and has made updating OEO guidance a priority for 2026. If adopted, these changes could reshape investor education in Canada by giving regulated platforms greater flexibility while maintaining essential protections.
The outcome of this proposal will determine how much flexibility regulated CIRO ealers have to innovate in investor and financial education. For fintech innovators and market participants, it's a sign that regulators are open to modernizing rules to better meet the needs of today’s self directed investors.
NCFA will continue to follow this development and share updates on how the final framework could influence the future of investor engagement.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Trade Wars | Aug 11, 2025

Image: Freepik AI
Nvidia and AMD have agreed to pay 15% of their revenue from Chinese chip sales to the US government in exchange for export licenses. It follows months of export restrictions on high performing chips like Nvidia's H20 exports to China which were halted earlier this year. Analysts previously warned that curbing H20 chip exports to China could cost up to $8 billion in quarterly sales, while AMD projected a $1.5 billion hit this year from similar restrictions.
The new 15% payment for market access is an unprecedented arrangement, one that highlights the US strategy to assume control over critical AI and semiconductor technologies. It raises significant concerns around global tech trade, supply chains and geopolitical tensions, especially given China's reaction and what's next for tech competition and national security, both taking center stage with a new layer of complexity to the relationships between the US and China.
Canada and other global players will feel the ripple effects of these changes, especially if national security continues to impact global trade policies, which could force countries (and companies) to choose sides in a growing tech war.
The Chinese government has long accused Washington of using technology and trade policy to limit China’s rise in advanced industries. Following the 15% deal, state media criticized the H20 chip as outdated, unsafe, and potentially embedded with backdoor access, showing the growing mistrust of American AI chips while suggesting that the 15% levy is a political tool rather than a commercial safeguard.
As China sees the US moving to limit its access to critical technologies, the message is pretty clear that China is not backing down. They are already investing heavily in building alternative solutions. With companies like Huawei pushing forward on semiconductors and AI chips, China’s push for tech independence is only going to gain speed.
Aug 12 Update: Bloomberg reported that China has issued new guidance advising domestic firms to avoid using Nvidia's H20 chips in certain projects, especially any government use and to prioritize domestic chips wherever possible. This restriction will likely accelerate China's push for self reliance in advanced semiconductor protection, and could reduce demand for Nvidia's products in one of its largest markets.
With China representing 13% of Nvidia’s and 24% of AMD’s total revenue, even a small sales disruption can ripple through suppliers, distributors, and end markets. Semiconductor assembly and packaging hubs in Southeast Asia could also see order volatility if Chinese buyers switch to local alternatives.
The semiconductor industry is already experiencing shortages and supply chain disruptions, especially as the US and China continue to fight for dominance in manufacturing, however with the introduction of a type of financial leverage into the equation, the US could disrupt the delicate balance that keeps the global supply chain moving forward. Global logistics networks could be forced to reconfigure as companies diversify sourcing to hedge against export licensing risks.
This will hit industries reliant on critical AI chips and semiconductors, including everything from automotive and consumer electronics to AI and fintech. For companies in Canada, especially those that have tech partnerships with China, there will be an increasing need to diversify their supply chain sources to avoid disruptions and remain resilient in the face of trade barriers and tariffs.
With this new 15% payment arrangement, technology export controls could evolve into tools of economic statecraft that could be applied in other high-value tech sectors. If adopted more widely, it's a model that could ignite retaliatory tariffs or revenue-sharing requirements from other governments, creating a patchwork of national rules that complicate multinational operations.
Countries like India, which is rapidly scaling its semiconductor sector, are no doubt watching closely to see whether aligning with one tech bloc risks alienating another.
The growing tech and supply chain tensions mean that Canadian companies must carefully position themselves and ensure they adapt to the changing regulatory environment. As both China and the US reconfigure their tech ecosystems, Canada’s role as a tech hub will depend on its ability to stay nimble, maintain access to key technologies and markets, and diversify trade relationships.
For companies, investors, and policymakers, it's a strong reminder that the next front in trade disputes will not be over commodities, but over the intangible building blocks of future economies.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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