The Rundown 10/31/25: Bank of Canada’s Big Move, Meta’s $200B Mistake, and Canada’s Fintech Boom

In this episode of Tank Talks, host Matt Cohen is joined by John Ruffolo to break down the week’s biggest stories shaping the innovation economy. From the Bank of Canada’s surprise rate cut to Meta’s $200B market crash, and the rise of Canada’s fintech and stablecoin revolution. They kick off with a spotlight on Waterloo’s AI-powered baseball tech that’s changing Major League play, before unpacking the renewed U.S.-Canada tariff tensions and what the Bank’s fourth rate cut signals for inflation, growth, and fiscal strategy ahead of the November 4th budget. The two also dive deep into the stablecoin boom, Mastercard’s $2B bet on crypto infrastructure, and how Ottawa is scrambling to keep pace with the U.S. Genius Act and its implications for the future of Canadian payments.

Matt and John then turn to Wealthsimple’s record-breaking $10B valuation and what it means for Canada’s domestic market opportunity, before dissecting Meta’s controversial accounting maneuvers that wiped out $200B in market cap. They close by exploring OpenAI’s trillion-dollar restructuring, Microsoft’s 20x return on investment, and the race among tech giants to fund the next phase of AI infrastructure. It’s a sharp, data-packed Rundown filled with fresh insights on capital markets, emerging technologies, and the power shifts redefining global innovation.

Waterloo’s AI Baseball Revolution (01:08)

* How a University of Waterloo startup is changing the game with AI-powered pitching machines

* The rise of Tradex Sports and MLB’s tech adoption

* What this means for Canada’s sports innovation ecosystem

U.S.-Canada Tariff Tensions Rise Again (03:25)

* The Senate votes to nullify tariffs on Canada, but Trump’s volatility looms large

* The politics behind tariff rollbacks

* Why Canada’s “elbows up” strategy backfired

* What this means for trade and cross-border investors

Bank of Canada’s Fourth Rate Cut (06:33)

* Governor Tiff Macklem cuts rates by 25bps. Is this the end of the easing cycle?

* Inflation, weak GDP, and the limits of monetary policy

* Why fiscal stimulus might be the only lever left

* What to watch on November 4th as markets react

Canada’s Stablecoin Race Heats Up (09:10)

* Stablecoins triple Visa’s volume: Can Canada keep up with the U.S.?

* Mastercard eyes $2B Zero Hash acquisition

* Inside Ottawa’s urgent push for stablecoin regulation

* The rise of “sovereign blockchains” and real-time rails

The Future of Payments Canada (14:34)

* Why the nation’s 10-year-late “Real-Time Rails” might already be outdated

* How blockchain will reshape payment infrastructure

* The hidden trillions moving on ancient financial rails

Wealthsimple’s $10B Milestone (16:17)

* A Canadian fintech unicorn doubles its assets in one year

* Lessons from its Series E and $750M raise

* Why Canada’s domestic market is finally worth betting on

Meta’s $200B Accounting Meltdown (20:04)

* Zuckerberg’s AI spending spree and the fallout from “funny accounting”

* Why investors are calling out Meta’s SPV strategy

* What this says about the next phase of Big Tech CapEx wars

OpenAI’s $1 Trillion Restructure (24:06)

* Inside the new deal that redefines AI ownership and governance

* How Microsoft turned a $13B bet into a 10x gain

* Why this could become the most lucrative investment in tech history

Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffolo

Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1

Visit the Ripple Ventures website: https://www.rippleventures.com/

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