Wealthsimple Crypto’s head of legal said on Twitter that crypto assets the Toronto-based fintech holds on behalf of clients are protected from its creditors, as a crash in crypto prices puts investors on edge. (The Logic)

Talking point: Wealthsimple’s reassurance follows Coinbase’s disclosure this week that customers’ crypto holdings could be used to pay off creditors in the event the company goes bankrupt (Coinbase says it is not at risk of bankruptcy). Shares in the U.S.-based crypto exchange plunged this week after it reported disappointing first-quarter earnings, but its stock price has since recovered ground. Meanwhile, the stunning collapse of TerraUSD, a popular stablecoin, has also led to huge losses for investors and further jolted crypto markets. In response, the Canadian Web3 Council, a lobbying group, urged policymakers on Friday to move quickly on stablecoin regulation to combat risks.