Unstable coins 🪙 — Stablecoins take a hit. Seniors are reverse mortgaging. And SoftBank had a terrible year.

In the midst of a week packed with inflation concerns, stock market pressures, and the breakdown of popular stablecoins, the volatility of cryptocurrency is on full display. Canadian seniors are turning to reverse mortgages as they consider new ways to fund their retirement—one private lender, Equitable Bank, saw a 262% year-over-year surge in its reverse mortgage products last quarter. This time last year it was all cherry blossoms and champagne showers for the globally-recognized Japanese investor SoftBank as the conglomerate saw its biggest net profit, ever. But what a difference a year can make! Yesterday SoftBank posted its worst quarterly loss ever of US$13.2 billion dollars—affirming that the tech stock slump is no joke. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.