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Streetwise newsletter: Coinsquare upbeat about expansion; CI Financial CEO deals with his defining challenge

Here are the top reads on deals and financial services over the last 24 hours,

Cryptocurrency trading: Glancing around Coinsquare’s new loft-style Toronto office, one would never guess that the cryptocurrency market has been in a lull for much of the past six months. But with investor appetite for cryptocurrencies waning and cryptocurrency trading revenues expected to erode, the startup’s success will depend on its ability to branch out into new business lines and to navigate the rapidly evolving regulatory landscape facing the nascent sector. Story (Alexandra Posadzki, for subscribers)

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Wealth management: Peter Anderson has a problem most of us would envy: The CEO of CI Financial Corp. has too much cash. Mr. Anderson runs a mutual fund company that kicks off roughly $650-million a year, far more money than CI needs to build its business. While having too much cash would seem to rank right up there with being too healthy or too good-looking when it comes to life’s challenges, CI’s boss faces a challenge that’s going to define his tenure at the helm and the performance of CI shares. Story (Andrew Willis, for subscribers)

From the industry: It’s time to rethink practice and regulation: Opinion (Ian Russell, president and CEO, Investment Industry Association of Canada, and Michael Williams, chief risk officer and CCO, Richardson GMP Limited)

Oil deal: A Chinese-backed investor group that has plowed hundreds of millions of dollars into insolvent oil and gas producers is making its first foray into Canada’s oil sands. East River Oil and Gas Ltd. is snapping up bankrupt Connacher Oil and Gas Ltd. in a proposed transaction worth $113.5-million, bringing the junior oil-sands producer closer to the end of a court-supervised restructuring process that has dragged on for more than two years. Story

MORE FINANCIAL SERVICES NEWS

Financial products: Canada’s exchange-traded fund market has reached a saturation point and any firms with less than $1-billion in assets should be “very concerned” about the future, according to the sales chief at one of the country’s top providers. Story

MORE DEALS NEWS

Tesla sage: Shares in Tesla Inc fell just under 3 per cent on Monday after Chief Executive Elon Musk abandoned his plan to take the electric carmaker private, with analysts saying the company needed new blood among senior management to prop up its standing with investors. Story

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Pot stocks speculation: Canadian pot stocks surged for a second straight session Monday amid speculation more alcohol companies will strike deals with marijuana growers as Canada marches closer to legalization. Story

IN CASE YOU MISSED IT

Interview: Borrowell COO Eva Wong on why she’s thankful for all of her ‘scary experiences’: Story

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