Housing Market Hopes Rise Amidst Bitcoin Hack and Tax Controversy

Canada's housing market has been on a downward trend since its peak in 2022, and economists are now cautiously predicting that it may be nearing the bottom. According to a handful of experts, this could happen within months or even years. However, it is essential to note that this prediction may not come to fruition.

Meanwhile, thousands of Bitcoin investors around the world have lost millions of dollars after their accounts with Toronto-based crypto storage company Coinkite Inc. were compromised last week. This hack has raised concerns about the security of cold wallets and whether those affected will receive compensation for their losses.

Shopify Inc., a Canadian e-commerce platform, reported that its artificial intelligence tools are helping merchants increase sales. In the second quarter, AI-driven traffic and orders to Shopify stores tripled year-over-year, indicating a positive trend for the company.

The Canada Revenue Agency (CRA) has denied tax deductions for legal fees related to challenging reassessments in certain cases. This decision highlights the complexities of tax laws and the need for individuals to seek professional advice when dealing with such matters.