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The rapidly changing metals landscape and where to invest were key themes addressed during the Commodities and Financial Markets session at this year’s AME Roundup in Vancouver, BC.

Rowena Alavi-Gunn, senior analyst at Wood Mackenzie, started her presentation “Battery Powerplay — Are Battery Metals Still Investable?” by recounting the challenges battery metals faced in 2024.

“I’ve picked this topic because battery metals have had a fairly rough 2024,’ she said.

‘We’ve seen low prices, weak demand, increasing costs — and generally sentiment is maybe sour towards them. And then on top of that, there’s geopolitical uncertainty,” Alavi-Gunn noted. Recent election results and weaker-than-expected electric vehicle (EV) demand may also be deterring investors from entering the battery metals sector.

Even so, the broad fundamentals remain positive for key metals like lithium, nickel, cobalt and graphite.

“I think there’s an opportunity for countercyclical investment in battery metals,” she explained.

Trump policies threaten US EV growth

Speaking about freshly inaugurated US President Donald Trump, Alavi-Gunn underscored that US EV proliferation could be hampered by the new administration. Trump could ease EV compliance rules, reduce subsidies and impose tariffs on Chinese batteries and Mexican auto imports, making EVs less competitive.

As a result, US plug-in vehicle sales could drop from 30 percent to 20 percent penetration, with hybrids gaining market share. This shift could reduce US battery demand by 20 percent.

However, outside the US the global EV outlook remains largely unchanged.

“Overall, we see very strong growth in EVs going forward,” Alavi-Gunn said, using a chart to illustrate her point. “Plug ins are growing at nearly 10 percent a year. Hybrids are growing at about 6 percent a year.”

While this steady increase in EV purchases is the largest contributing factor for the battery metals sector, each metal also has other end-use segments that offer support.

“We’re seeing very strong demand growth across all of the battery metals,” the Wood Mackenzie analyst noted. “Lithium, obviously, is just crazy, but the other battery metals are still growing pretty strong.”

IRA decisions could impact graphite supply

Although Trump’s decisions around the Inflation Reduction Act’s EV incentives — in particular the 30D tax credit for new clean vehicles — are expected to have little impact on global battery demand tallies, Alavi-Gunn noted that the graphite market could be impacted by the new administration’s policies.

“We think the US could have quite an impact if they keep the 30D credit in place, but they bring forward graphite inclusion,” she said. She went on to explain that graphite is a crucial component for batteries, with China dominating its supply chain. Currently US sourcing rules don’t require graphite to come from allied countries until 2027.

However, if Trump moves that deadline up, far fewer EVs will qualify for tax credits due to limited compliant supply.

As Alavi-Gunn pointed out, long-term demand for battery metals is bullish, despite a current glut in key markets.

The lithium and nickel markets are oversupplied, driven by surging production in China and Indonesia. This excess has kept prices low, but demand is expected to outpace supply by the 2030s, triggering shortages and price increases.

Cobalt also faces a similar long-term oversupply, though recycling economics could be a risk.

To fulfill the demand growth that Wood Mackenzie is projecting, Alavi-Gunn noted that billions of dollars in new investment will be required, particularly for lithium. She suggested that major mining firms, traditionally focused on iron ore and coal, may need to diversify into battery metals as these legacy commodities shrink in market size.

While lithium and nickel mines generate slightly less revenue than copper, they remain attractive investment opportunities, especially for companies looking to future-proof their portfolios.

This can be achieved through M&A or the development of new greenfield assets.

As Alavi-Gunn explained, lithium and copper assets command high premiums, making new development more cost effective, while nickel is cheaper to acquire than build.

However, greenfield projects come with risks like permitting delays.

She also noted that miners face competing demands for capital, such as shareholder returns, sustainability and diversification. While battery metals offer long-term potential, firms must act now to avoid future shortages.

The current downturn presents a countercyclical investment opportunity ahead of expected supply deficits and price surges in the 2030s, she said.

Canada’s pivotal place in global supply chains

Following Alavi-Gunn’s presentation, Emil Kalinowski, director of metals market research at Wheaton Precious Metals (TSX:WPM,NYSE:WPM), took to the stage.

His 20 minute presentation started with a brief overview of the geopolitical and economic forces shaping metals markets, highlighting a disconnect between analyst forecasts and historical trends.

As Kalinowski explained, critical and in-demand resources have become a key front in geopolitical tensions, alongside artificial intelligence, space and strategic waterways like the Black and Red seas.

“The metals and mining space has become a key battleground for the great powers in the world,” he said.

As metal supply chains become increasingly politicized, he believes Canada may be the most influential nation.

“Canada, in my mind, is one of the leaders on deciding who, what and where deals can take place,’ Kalinowski said. ‘With respect to national security and economic security, logistics, supply chains — Australia is leading the way when it comes to financing projects, but Canada is getting involved on a geopolitical basis very heavily.”

Although Kalinowski’s comments came the day after Trump’s inauguration, they appear to have been prophetic. Since taking office, the president has made numerous comments about the US absorbing Canada as the 51st state.

Trump has cited poor trade negotiations and subsidies as his reasons, but many have questioned the motives behind the proposal, with some speculating that the president would like to access Canada’s mineral wealth.

More recently, the Trump administration has requested US$500 billion in rare earths from Ukraine.

Analyst price predictions clash with supply realities

Switching his focus to gold, Kalinowski noted that despite bullish sentiment in the market and dramatic price increases for the precious metal, some analysts are making bearish projections.

“They are forecasting that gold prices will fall,” he told the audience.

“This is completely off the charts compared to the market and to history. I think they’re wrong.”

According to Kalinowski, analyst consensus predictions for gold don’t align with supply projections.

Forecasts suggest a slight annual decline in supply through 2030 — roughly 1 percent per year — putting future supply 2 to 3 percent below historical trends dating back to the Cold War, he explained.

Alternative supply sources like scrap and recycling are also shrinking.

Unlike past decades, when investors and central banks sold off gold, projections for 2030 show these entities will be accumulating instead, reducing available supply and challenging traditional market assumptions.

“So supply is not really explaining why analysts are so bearish,” he said. “Might it be demand? I don’t think so.”

In fact, global gold demand surged to an all-time high of 4,974 metric tons in 2024, fueled by strong central bank purchases and rising investment interest, according to the World Gold Council. The combination of record prices and high volumes pushed the total market value of demand to a historic US$382 billion.

Ultimately, Kalinowski attributed analysts’ bearish stance on the gold price to their failure to fully account for the supply constraints, the nuanced nature of gold demand and the geopolitical factors that could drive increased buying.

Diverging paths for silver, platinum and palladium

For sister metal silver, the consensus was more optimistic, with analysts predicting long-term price growth.

As Kalinowski pointed out, historical trends suggest the silver price rises over any six year period, but forecasting remains complex. Unlike gold, silver lacks a single price-driving factor, earning its reputation as the “devil’s metal.”

Silver’s extreme financialization — where paper trades vastly outsize physical supply — makes short-term price moves unpredictable. However, long-term demand shifts are clear. Industrial use, especially in solar panels, is set to grow, while speculative demand is expected to decline — though its correlation to gold raises doubts.

Kalinowski added that a key geopolitical wildcard is government stockpiling of silver. Russia recently began adding silver to its reserves, sparking speculation that other nations may follow.

Even a tiny shift in global FOREX reserves into silver could absorb an entire year’s supply.

For Kalinowski, that raises the question: “Could silver become a strategic asset alongside gold?”

He spent the remainder of his time highlighting the seismic shifts occurring in the platinum and palladium markets. With so many supportive fundamentals, analysts are bullish on platinum long term, and the numbers support it.

While total mine supply is expected remain stable, platinum demand is being reshaped, moving away from internal combustion engines and into the hydrogen economy. According to Kalinowski, this transition is expected to drive ongoing supply deficits, with platinum stores reaching a 47 year low.

Palladium, on the other hand, faces a different story. While analysts remain optimistic in the short term, long-term fundamentals for the metal look shaky. A flood of recycled palladium from scrapped gasoline-powered cars — peaking in the mid-2030s — will add massive supply, just as demand declines by 15 percent.

Unlike platinum, palladium has no clear role in the energy transition, raising price concerns long term.

“There is no hydrogen rescue coming for the palladium market; (there is also a) tremendous amount of supply, falling demand (and) price (is) very concerning,” Kalinowski said.

With supply tightening for one and surging for the other, the two metals appear to be on diverging paths — platinum poised for strength, palladium facing pressure.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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(TheNewswire)

TORONTO, ON, FEBRUARY 24, 2025 TheNewswire – Silver Crown Royalties Inc. ( ‘Silver Crown’ ‘SCRi’ the ‘Corporation’ or the ‘Company’ ) is pleased to announce that it has engaged Investor Cubed Inc. (‘ Investor Cubed ‘) to provide investor relations and shareholder communications services in Canada. The terms of the consulting agreement with Investor Cubed (the ‘ Agreement ‘) provide for up to a one-year term (terminable at SCRi’s option after three months), provides for cash compensation of C$10,000 per month payable by Silver Crown to Investor Cubed for services rendered pursuant to the terms of the Agreement. Subject to approval by Cboe Canada Inc., Investor Cubed will also be entitled to 25,000 common shares of Silver Crown to be issued in equal quarterly instalments over the one-year term subject to termination clause under the Agreement.

Neil Simon, CEO of Investor Cubed, stated, ‘Investor Cubed is excited to begin working with Silver Crown. We have been interested Silver and looking for an ideal way to capitalize on the strong price movement and bullishness of the commodity. We believe Silver Crown offers an ideal way to invest in Silver without all the associated risks when investing in silver mining companies.  Silver Crown is poised to deliver strong results and increased growth for its shareholders’.

Silver Crown is also pleased to announce that it has successfully closed the first tranche of its previously announced non-brokered private placement. The Company issued 67,538 units (‘ Units ‘) at a price of C$6.50 per Unit, for gross proceeds of approximately C$439,000. Each Unit consists of one common share (‘ Common Share ‘) and one common share purchase warrant (‘ Warrant ‘), with each Warrant exercisable to acquire one additional Common Share at an exercise price of C$13.00 for a period of three years from the closing date. The proceeds from this tranche will be used to partially fund the second tranche of the Company’s silver royalty acquisition on the Igor 4 project in Peru, as well as general and administrative expenses. All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The closing was subject to customary conditions, including the approval of Cboe Canada Inc.

‘We look forward to leveraging Investor Cubed’s experience and client base. We believe this will boost our ability to connect Silver Crown Royalties with key Canadian investors,’ stated Peter Bures, CEO of Silver Crown Royalties. ‘Their expertise and the first tranche closing strengthen our financial position and serve to elevate our presence in Canada’s investment community.’

ABOUT Silver Crown Royalties INC.

Founded by industry veterans, SCRi is a publicly traded, silver royalty company. SCRi currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure allowing for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:

Silver Crown Royalties Inc.

Peter Bures, Chairman and CEO

Telephone: (416) 481-1744

Email: pbures@silvercrownroyalties.com

Investor Cubed Inc.

Neil Simon, CEO Telephone: 647-258-3310

Email: nsimon@investor3.ca

FORWARD-LOOKING STATEMENTS

This release contains certain ‘forward looking statements’ and certain ‘forward-looking information’ as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘plans’ or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include but are not limited to, ‘We look forward to leveraging Investor Cubed’s experience and client base. We believe this will boost our ability to connect Silver Crown Royalties with key Canadian investors’, and ‘Their expertise and the first tranche closing strengthen our financial position and serve to elevate our presence in Canada’s investment community.’ Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi’s ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi’s business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.

This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Copyright (c) 2025 TheNewswire – All rights reserved.

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(TheNewswire)

Vancouver, British Columbia, February 24th, 2025 TheNewswire – Prismo Metals Inc. (‘Prismo’ or the ‘Company’) (CSE: PRIZ) (OTCQB: PMOMF) today provided an update regarding its projects in Arizona and Mexico, as well as recent corporate activities.

‘The priority for Prismo in 2025 remains raising the necessary capital to undertake a 5,000-meter drill program at our Hot Breccia copper project located in the heart of the prolific Arizona Copper Belt’, said Alain Lambert, CEO of Prismo.

The Hot Breccia copper project consists of 1,420 hectares in 227 contiguous mining claims located in the world class Arizona Copper Belt surrounded by several very well understood world-class copper mines including Morenci, Ray, San Manuel and Resolution (Figure 1). Hot Breccia shows many features in common with these neighboring systems, most prominently a swarm of porphyry dikes and series of breccia pipes containing fragments of well copper-mineralized rocks mixed with fragments of volcanic and sedimentary units, derived from considerable depth. Prismo performed a ZTEM survey last year that identified a very large conductive anomaly directly beneath the breccia outcrops.


Click Image To View Full Size

Figure 1. Location of the Hot Breccia Project in the Arizona Copper Belt.

Mr. Lambert added: ‘Our updated financing strategy includes continuing discussions with both potential investors and strategic partners already present in our district or wanting to gain a foothold in the district. As such, we expect to proceed with a financing on different terms than we contemplated in late 2024 (1) .’

As part of Prismo’s financing efforts to fund the proposed drill program at Hot Breccia, the Company confirms its attendance at the upcoming Prospectors & Developers Association of Canada’s (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 2 to Wednesday, March 5, 2025. The Company encourages attendees to meet the Prismo team at Booth #3145 in the Investor’s Exchange.

Palos Verdes

At the Palos Verdes project the fourth phase of drilling by Prismo was undertaken last year.  As announced on July 31 st , 2024, Prismo’s team mobilized at Palos Verdes in early August and immediately began preparation for the drill program which is a collaborative effort between Prismo and Vizsla Silver. The drill program follows three main target recommendations made by the Panuco Joint Technical Committee comprised of Prismo ‘s Chief Exploration Officer Dr. Craig Gibson, Vizsla Silver’ s VP Exploration Dr. Jesus Velador and Advisor Dr. Peter Megaw. The program has three main goals (See Figs. 2 & 3 below):

  1. Trace the down dip extension of the mineralized shoot defined by previous drilling on the southwest portion of the vein.

  2. Seek continuation of the vein on the northeast extension of the vein across a cross-fault believed to have offset the vein downward.

  3. Test the extreme northeasterly extension of the Palos Verdes vein system near the concession limit adjacent to the historical Jesusita mine.

The Company announced that drilling had begun on September 24, 2024, with a goal to test targets on the Palos Verdes concession utilizing drill pads located on Vizsla’s concessions adjacent to Palos Verdes for greater drilling efficiency. Two holes were completed from remote site PV005 to drill downdip from the high-grade mineralized body drilled previously: PV-24-34 was drilled to a depth of 286.5 meters and hole PV-24-35 was drilled to a depth of 318.0 meters. The program was curtailed in late November after slow advances and budgetary considerations.  Assay results from the drilling remain pending.

Figure 2: Location and orientation of the proposed drill holes


Click Image To View Full Size

Figure 3. Geologic and drill hole map of the Palos Verdes and adjacent concessions showing the surface projection of interpreted mineralized shoots based on surface assays and the location of an interpreted high-level alteration assemblage identified in core. Note NW-SE fault in the center of the claim is believed to have dropped-down the NE extension of the vein system.  Drill pads for holes to be collared on Vizsla Silver ground are shown in purple and will test target areas indicated on the surface by the red ellipses . The location of new hole PV-24-34 is also shown.


Click Image To View Full Size

Figure 4. 3D view of the sub-surface at Palos Verdes looking northeasterly at the cross section with drill holes PV-34 and PV-35, showing the palos Verdes vein with areas of >150g/t AgEq in orange and >300 g/t AgEq  in red as well as the northwest fault zone.

Shares for Debt Transactions and Options Grant

Prismo also announces that it has entered into debt settlement agreements (the ‘Settlement Agreements’) with certain creditors of the Company (the ‘Creditors’) pursuant to which the Company agreed to issue to the Creditors, and the Creditors agreed to accept, an aggregate of (i) 4,436,175  shares of the Company (each, a ‘Share’) at an average price of $0.105 per Share in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $460,959 (the ‘Debt Settlement’).

‘Sixty-four percent (64%) of the shares to be issued will be issued to Walnut Mines LL, an Arizona corporation (‘Walnut’) which owns the Hot Breccia claims optioned by Prismo. Walnut has agreed to increase their ownership position in Prismo in lieu of cash to make up for an approximate $284,559 in exploration expenditure shortfall in 2024 as well as postponing a $100,000 option payment. We thank Walnut for their continued support of Prismo and the Hot Breccia project,’ said Mr. Lambert.

Dr. Linus Keating CPG, the Manager of Walnut stated today, ‘Walnut is pleased to see Prismo advancing the Hot Breccia project. These partners have contributed good quality technical work that has significantly advanced this important porphyry copper property into a large-scale target. Walnut believes that a positive and ongoing relationship will progress into resounding success.’

All securities issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable policies of the Canadian Securities Exchange.

Prismo announced that it has granted 250,000 Options to a consultant of the Company. The Options are each exercisable to purchase one common share of the Company (a ‘Common Share’) at an exercise price of $0.12 for a period of two years. The Options will vest as of 25% vesting immediately and 25% every three months thereafter.

Los Pavitos

Prismo has provided Minera Cascabel with a notice of termination of the Option Agreement dated October 11 th , 2019. In the current market conditions Prismo is not in a position to support this project, and considering the ongoing funding requirement just to hold the property, it was decided that terminating the option was the best course of action.

Note

  1. (1) See Prismo’s news release dated December 2 nd , 2024

Qualified Person

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations has reviewed and approved the technical disclosures in this news release. Dr. Gibson is also Chief Exploration Officer and a director of the Company.

About Prismo

Prismo (CSE: PRIZ) is mining exploration company focused on its Palos Verdes precious metal projects in Mexico and its Hot Breccia copper project in Arizona.

Please follow @PrismoMetals on , , , Instagram , and

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Steve Robertson, President steve.robertson@prismometals.com

Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Palos Verdes and Hot Breccia. The current drill program is being conducted from a concession not owned by the Company and a change in Vizsla’s business plan in the drilling area could negatively impact Prismo.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, notably delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Hot Breccia.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: Vizsla will continue to work with Prismo to allow for drilling at Palos Verdes, the ability to raise capital to fund the drilling campaign at Hot Breccia and the timing of such drilling campaign.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Here’s a quick recap of the crypto landscape for Friday (February 21) as of 9:00 p.m. UTC.

Bitcoin and Ethereum price update

Bitcoin (BTC) is currently trading at US$95,056, reflecting a 3.4 percent decrease over the past 24 hours. The day’s trading range has seen a high of US$99,262 and a low of US$94,909.

Ethereum (ETH) is priced at US$2,637, marking a slump of 4.1 percent over the same period. The cryptocurrency reached an intraday high of US$2,837 and a low of US$2,625.

Altcoin price update

  • Solana (SOL) is currently valued at US$169.56, down 2.8 percent over the past 24 hours. SOL experienced a high of US$179 and a low of US$168 during Friday’s trading session.
  • XRP is trading at US$2.53, reflecting a 6 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.70 and a low of US$2.52.
  • Sui (SUI) is priced at US$3.27, showing a 5.8 percent decrease over the past 24 hours. It achieved a daily high of US$3.55 and a low of US$3.23.
  • Cardano (ADA) is trading at US$0.7574, reflecting a 6 percent decrease over the past 24 hours. Its highest price on Friday was US$0.8166, with a low of US$0.7526.

Crypto news to know

SEC agrees to dismiss Coinbase case

Coinbase Global (NASDAQ:COIN) said Friday that the US Securities and Exchange Commission (SEC) has agreed to dismiss its case against the cryptocurrency exchange, pending final approval from regulators.

The SEC sued Coinbase in June 2023, alleging that it was operating as an unregistered securities platform and brokerage service. It accused Coinbase of generating billions in revenue while failing to provide investor protections.

Coinbase shared the update on social media platform X, stating, “But this isn’t the end. It’s the beginning. And if there were ever a time to build — that time is now. Thank you to everyone who stood with us, and stood with crypto.”

“The SEC’s swift action to bring order to the crypto industry and restore fairness is encouraging. Commissioner Peirce’s Task Force has been instrumental in this progress, taking a thoughtful, inclusive approach that actively seeks industry and stakeholder input. The SEC faces a challenging task — not only must it undo harmful policies, but it must also lay the foundation for sound regulatory frameworks. And as history shows, undoing bad policy is itself good policy.

Under Acting Chairman Uyeda and Task Force Leader Commissioner Peirce, the SEC is holding itself to a higher standard, and I am pleased — but not surprised — to see this shift. I am confident that this commitment to fairness and integrity will continue under incoming Chairman Atkins.”

Guillén leads BakerHostetler’s digital and innovative markets team and co-leads its blockchain team; she is also a former attorney with the SEC’s Office of the General Counsel, and was among the candidates that the Trump administration considered for the position of SEC chair.

Jan3 CEO suggests ‘manufactured’ price action

Samson Mow, CEO of Jan3 and founder of Pixelmatic, suggested that Bitcoin’s range-bound price action may be manufactured during a panel discussion at Consensus Hong Kong 2025 on Wednesday.

“If you look at the price movement, we peak, and then we stay steady and chop sideways. And it’s good, you can say it’s consolidation, but it just looks very manufactured.”

Mow indicated that the significant buying pressure from retail and other major investors accumulating BTC must be offset by substantial selling pressure.

Additionally, FTX’s recent Bitcoin sales, as part of their payout process, might be creating downward pressure on the market, counteracting the upward momentum generated by significant buying interest. This situation leads to a period of price stabilization rather than immediate growth.

“FTX is starting to pay out their dollars from selling Bitcoin, ill-advisedly, in the mid-20K range, so clearly, somebody is selling to match this. Otherwise, the price would already be moving upwards again,” Mow said.

Bybit experiences its largest security breach

Bybit co-founder and CEO Ben Zhou confirmed a security breach that saw over US$1.4 billion in liquid-staked Ether and other ERC-20 tokens hacked from the cryptocurrency exchange on Friday morning.

The confirmation came roughly one hour after on-chain security analyst ZachXBT spotted the incident shortly after it occurred, according to Cointelegraph’s coverage of the event.

The attack appears to have compromised the signing process for transactions, allowing hackers to manipulate the smart contract logic of the cold wallet. The hack affected only Bybit’s Ethereum cold wallet; other wallets, including Bitcoin reserves, remain secure.

Bybit has obtained a bridge loan covering a significant portion of the stolen funds and continues to process withdrawals. The situation is ongoing, and Bybit is working with other exchanges to track and potentially freeze the stolen assets. Arkham Intelligence attributed the hack to the North Korean group Lazarus.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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In a war dominated by the unexpected, few imagined Ukraine’s fourth year at war would so firmly question the security of all of Europe.

The most basic tenets have crumbled in this war​. Russia’s military superpower status has weakened, and the Kremlin’s inner circle overcame an uprising. Drones have altered warfare permanently, and rendered warehouses of tanks near-useless.

The United States has flipped from a moralistic benefactor to a transactional predator of Kyiv’s resources. The president of Ukraine has survived physically yet now must deal with a revisionist version of events purveyed by a White House that just over a month ago was his steadfast backer.

Flippant or spontaneous as it may have been, US Secretary of Defense Peter Hegseth’s remark in Brussels that the US was no longer the guarantor of European security has overturned eighty years of norms on the continent. Perhaps it was a bluff to boost European security spending, but you cannot bluff in nuclear security.

The Kremlin will have heard about the weakness in the transatlantic alliance and will be plotting accordingly. In one sentence, Hegseth turned a conflict, in which Moscow had been roundly diminished and humiliated for three years, into the chaotic re-ordering of continental security, in which Moscow may somehow dominate to its west.

With Moscow tied up in Ukraine, the security of wider Europe is for now an ethereal policy debate – an unwelcome distraction when contrasted with the relentless daily horror of the actual fight. After a week of social media tirades and tense microphone diplomacy, the gruesome battle has somehow faded into the background. Yet the acute horror is real.

A Ukrainian company commander serving inside Russia’s Kursk region said his men had to regularly dig new positions in the frozen ground as they were so accurately targeted by waves of Russian drones. “I don’t really believe in a quick end to the war or in peace in general”, he said after three years of fighting. “I am very exhausted, so is everyone here. Nothing changes for us here because of political statements.”

Oleksandr Nastenko, a battalion commander in the 475th assault brigade, said talk of peace had impacted recruitment as potential soldiers were saying “maybe it will all be over in a month or two, I’ll wait.” He said talk of Ukraine collapsing after six months without American aid was premature. “We will somehow figure it out, there is no smell of capitulation.”

Yet a form of capitulation has haunted the opening salvos of the Trump administration’s negotiating plan – Hegseth gifting Moscow with the prospect of Ukraine not joining NATO or recovering territory, before talks had apparently begun. The White House’s revisionism has become an ugly extension of their apparent race to purse a détente with the Kremlin almost at all costs.

Russia’s parallel narrative – that it was forced into action to prevent NATO expansion, and Ukraine must be de-nazified – had been overwhelmed by the sheer weight of its frailty on the frontlines and isolation. It had begun to sound silly – the wobbly excuses of the loser. Yet it has suddenly gained a new lease of life, parroted in part by the world’s most powerful man and his inner circle. It is a potent sign of how the war continues to turn basic norms upside down, that a pressing question on its third anniversary is: “Who is feeding Trump these Kremlin talking points?” Russian state television seems to think it is Russian President Vladimir Putin himself in his conversations with Trump.

Western unity has been an outlier during the war: European nations often differed in how suspicious of Russia they instinctively were, but they spoke as one since Moscow’s full invasion. Yet we now face the world’s pre-eminent power somehow convinced Russia might be a potential ally, and it is their European democratic allies who are the tyrannical problem. It is naïve for anyone in Washington to imagine a future in which Moscow drops its main financier and neighbor, China, in favor of an alliance with the US. Instead, they project frailty at a time when Beijing is actively weighing its next moves on Taiwan, and at times seems the most stable, serious power globally.

On Sunday, Zelensky said he would step aside if it meant peace for Ukraine. The distressing fact is his fraught relationship with Trump risks becoming an obstacle to almost everything. Yet the alternative is worse still. An election in wartime or handover to an anointed successor would simply increase false claims of Zelensky’s illegitimacy.

The dichotomy of the White House’s position is evident again in the inflated casualty numbers they claim is the reason the war must end (millions have not died, as Trump suggests, but possibly hundreds of thousands). This onus on preserving life is not compatible with a peace deal that weakens Ukraine’s defense and risks Russia refitting and coming back for more ground next year. More will die if peace fails or is weak.

The ugliest truth of this moment also needs saying out loud so Europe can be ready. The evidence of our eyes and ears is, as the biggest war in Europe since the forties drags into its fourth year, that Trump favors Putin.

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New Zealand raised fresh concerns Monday over nearby live-fire drills conducted by Chinese warships armed with “extremely capable” weapons, an unprecedented show of firepower last week that analysts say are part of Beijing’s ongoing plan to build a blue-water navy with global reach.

A Chinese Navy formation held two live-fire exercises in the Tasman Sea between Australia and New Zealand on Friday and Saturday, prompting passenger planes to change course mid-flight and rattling officials in both countries.

Judith Collins, the defense minister of New Zealand, said the drills were unprecedented.

“We’ve certainly never seen a task force or task group of this capability undertaking that sort of work. So it is certainly a change,” Collins told public broadcaster Radio New Zealand (RNZ) on Monday.

“The weapons they have are extremely capable. One has 112 vertical launch cells and has reported anti-ship ballistic missile range of 540 nautical miles,” she said.

Chinese state media have suggested that Western countries should get used to such military exercises in their nearby waters.

Song Zhongping, a Chinese military affairs expert, told nationalist tabloid the Global Times that the People’s Liberation Army (PLA) Navy will increasingly conduct exercises not only near China’s shores but also in international waters.

As drills like these will become more frequent, some countries should adjust to this trend, Song told the newspaper.

Australia’s Prime Minister Anthony Albanese said on Saturday that while China’s drills complied with international law, Beijing “could have given more notice.”

Australia’s Foreign Minister Penny Wong said she sought an explanation from her Chinese counterpart Wang Yi when the two met in Johannesburg on Saturday on the sidelines of a G20 foreign ministers gathering.

China’s Defense Ministry slammed Australia on Sunday for “hyping up” the drills and making “unreasonable accusations.”

Wu Qian, a spokesperson for the ministry, said China had issued safety notices in advance and that the exercises conducted in international waters complied with international law and did not affect aviation safety.

But Collins said China’s warning was given at too short notice.

“There was a warning to civil aviation flights, that was basically a very short amount of notice, a couple of hours, as opposed to what we would consider best practice, which is 12-24 hours’ notice, so that aircraft are not having to be diverted when they’re on the wing,” she told RNZ.

Collins added that the ships were currently about 280 nautical miles east of Tasmania and had slightly changed their formations, while being closely monitored by a New Zealand navy frigate.

New Zealand Deputy Prime Minister Winston Peters is scheduled to visit China on Tuesday at the invitation of Chinese Foreign Minister Wang Yi.

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Ukrainian President Volodymyr Zelensky on Monday hailed Ukraine’s “absolute heroism” as he marked the third anniversary of Moscow’s full-scale invasion, and as European leaders began arriving in the capital Kyiv in a show of support for the embattled country.

“Three years of resistance. Three years of gratitude. Three years of absolute heroism of Ukrainians. I am proud of Ukraine!” Zelensky wrote on X alongside a video showing scenes from the frontline and Ukrainian civilians supporting war efforts during the grinding conflict.

“I thank everyone who defends and supports it. Everyone who works for Ukraine. And may the memory of all those who gave their lives for our state and people be eternal.”

The anniversary comes with Ukraine facing great uncertainty about its future after US President Donald Trump pivoted toward Russia and US officials insist that Europe can no longer rely on Washington for its defense.

European leaders arrived in Ukraine on Monday, according to social media posts and images posted by Ukraine’s public broadcaster Suspilne.

Some roads in the center of Kyiv were blocked and police officers were deployed.

“On the 3rd anniversary of Russia’s brutal invasion, Europe is in Kyiv,” said European Commission President Ursula von der Leyen in a post on X, alongside a video that showed her meeting officials at a railway station with European Council President Antonio Costa.

“We are in Kyiv today, because Ukraine is Europe,” she said. “In this fight for survival, it is not only the destiny of Ukraine that is at stake.”

Images posted by Suspilne on its Telegram channel showed Canada’s Prime Minister Justin Trudeau also disembarking from a train and greeting officials.

Meanwhile, Russia launched another barrage of attack drones across Ukraine overnight, according to Ukraine’s Air Force.

Moscow launched 185 attack drones on Ukraine, of which 113 had been downed and another 71 disappeared from radar after being jammed, Ukraine’s Air Force said Monday.

The attack had “affected” Dnipropetrovsk, Odesa, Kyiv and Khmelnytsky regions, it said on Telegram, without saying whether it had caused damage or casualties.

The attack comes a day after Ukraine faced its largest drone assault since Russia’s invasion, with 267 drones launched, out of which 138 were intercepted, according to Ukrainian authorities on Sunday.

Ukraine’s armed forces commander-in-chief Oleksandr Syrskyi also hailed his troops on the anniversary of the invasion.

“The world did not believe that we would survive, but the Ukrainian people withstood the enemy’s attacks with dignity,” he wrote on Telegram.

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Some 7,000 people have died since January in fighting in eastern Democratic Republic of Congo (DRC), its prime minister told a high-level meeting of the Human Rights Council in Geneva on Monday.

Some 450,0000 people are without shelter after 90 displacement camps were destroyed, Judith Suminwa Tuluka added.

The M23’s advance is the gravest escalation in more than a decade of the long-running conflict in eastern Congo. The rebel group’s capture of swathes of the east and valuable mineral deposits has fanned fears of a wider war.

Rwanda rejects allegations from Congo, the United Nations and Western powers that it supports M23 with arms and troops.

The prime minister urged the world to act and to impose “dissuasive sanctions” amid mass displacements and summary executions.

“It is impossible to describe the screams and cries of millions of victims of this conflict,” she added.

In the opening remarks at the 58th UN Human Rights Council in Geneva, UN chief Antonio Guterres said that human rights around the world are being “suffocated” and referred to horrifying human rights abuses in the DRC.

Since the start of the year, the DRC has faced back-to-back losses in North and South Kivu provinces, fueling criticism of the authorities’ military strategy.

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Germany’s political system is set up to exclude extremists. Yet the country is waking up to a new political reality that has lurched to the right with the once outcast Alternative for Germany (AfD) party now firmly established in German politics.

The country’s mainstream conservatives, as polls predicted, won the largest share of votes in Sunday’s election according to official preliminary results and will be looking to form the next government, while the AfD came in second. But make no mistake – second place is a huge result for a party that although it likely won’t be in office once the dust settles, will enjoy expanded influence.

The party has doubled its support since the previous election in 2021, when it received 10.3% of the vote. It is now the first far-right party in Germany’s post-World War II history to have attained such broad levels of public popularity, and it has also significantly increased its share of seats in Germany’s parliament, or Bundestag.

The AfD reached a particularly large number of voters in eastern Germany, where it has long had a stronghold. But it also gained some significant support in constituencies in the country’s west, including the industrial city of Gelsenkirchen which has been suffering with stagnating economy and high unemployment, and Kaiserslautern, which is surrounded by a number of US military installation, including the Ramstein Air Base.

“We have never been stronger – we are the second-biggest force,” AfD co-leader Alice Weidel gloated, as she addressed crowds in Berlin after exit poll results were revealed on Sunday evening.

The mood at the far right’s election party in Berlin was ecstatic as the exit polls first flashed onto the screens, with people cheering and waving Germany flags.

For his part, Christian Democratic Union (CDU) leader and Germany’s likely next chancellor Friedrich Merz claimed victory as he slammed US interference in the country’s election campaign – which saw high-profile figures from the Trump administration speak out in support of the AfD.

These interventions are “no less dramatic and drastic and ultimately outrageous than the interventions we have seen from Moscow,” Merz said.

Formed in reaction to Eurozone policies in 2013, the AfD had become accustomed to being on the fringe of German politics, in a country scarred by its Nazi past and where any far-right party has been treated with caution.

It only secured its first seats in the Bundestag in 2017 and struggled to find a platform on Germany’s traditional media due to its strident anti-migrant and anti-Islam rhetoric. This election marks the first time the party has ever fielded a candidate for chancellor.

The party has called for “remigration” – the mass expulsion of immigrants. The controversial policy has drawn comparisons to the Nazi era. The AfD is officially suspected of right-wing extremism by German authorities, and parts of it have been under government surveillance.

All that appears to have changed. The AfD is now Germany’s largest opposition party, making it a major political contender that cannot be ignored. It has driven the debate in Germany while forcing mainstream rivals to recognize that they need to do more on flashpoint issues if they want to retain votes.

Their rise reflects what has been happening across Europe where a host of hard-right parties have made gains. Whether in the Netherlands, France or Austria, such parties can no longer easily be dismissed as political outcasts when they have won over sizeable shares of the vote – or in the case of Italy, run the country.

Having a significant voice in parliament means that “they [the AfD] will be able to apply pressure on the major parties from a position of greater strength,” said Gemma Loomes, a Lecturer in Comparative Politics at Keele University.

“The surge in support will embolden the party to talk, perhaps even more aggressively, about the issues that matter most to them but that the major parties are reluctant to address,” Loomes added.

All this begs the question: can the so-called “firewall” – an unofficial agreement between Germany’s mainstream parties to band together to keep the AfD out of power – last?

Merz’s controversial decision to push through an immigration bill with help from the AfD in January could be an early indication of how he intends to proceed in his chancellery.

She believes there may already be a “crack” in the firewall.

“In five, or 10, or 15 years it may no longer be there,” she speculates, perhaps at the regional level initially, if not the national level.

“The real question for center parties is how do we address voters’ genuine grievances, and how do we do it in a way that doesn’t just amplify the far right.”

Meanwhile, AfD politicians already have their sights firmly set on the next election in 2029 – when they are determined the firewall” will no longer exist.

Similarly, Weidel told reporters in Berlin on Monday morning, “Friedrich Merz has decided to maintain his blockade stance towards the AfD. We consider this blockade to be undemocratic. You cannot exclude millions of voters per se.”

Merz’s right-wing pivot ‘fraught with danger’

Merz now faces a tightrope walk as he seeks to form a new government while carving out a new path for the CDU.

The CDU has been ever-present in Germany’s post-war era and oversaw the reunification of east and west.

Yet, at the same time, everything has changed since it was last in power.

No longer tied with the liberal, “open door” policies it became synonymous with under Angela Merkel, Merz has vowed to bring the party back to its more conservative roots as part of efforts to counter the far right.

However, Merz’s promise to pivot the CDU back to the right does not come without risks. The move threatens to further embolden the AfD while isolating the CDU’s more centrist supporter base.

For Loomes, it is a decision that is “fraught with danger.”

“The AfD currently has positioned itself as the only party willing to talk about immigration and to propose radical action to tackle the perceived problem,” she said.

“If the CDU positions itself in this space, it risks being perceived as a less authentic version of the AfD. Voters are convinced the AfD cares passionately about limiting immigration; they may be less convinced it is a genuine priority for the CDU.”

Merz’s new government will likely involve the other major centrist party, the center-left Social Democrats (SPD), which led Germany’s previous coalition and came out third in Sunday’s vote.

However, coalition building could prove difficult, with the two parties potentially clashing on key issues, particularly foreign policy. There are no guarantees that the new government will not be as incohesive and unable to govern as the previous coalition.

Transatlantic winds

While Germany has long held far-right parties with a disdain not seen in its European neighbours, some Germans believe the time has come to break old taboos.

And the AfD’s powerful transatlantic ally is only serving to bolster this view.

Tech billionaire Elon Musk addressed crowds during a surprise appearance at the AfD campaign launch in January. “There is too much focus on past guilt, and we need to move beyond that,” he said, in a speech that echoes AfD talking points and was met with rapturous applause.

Meanwhile, in a scathing speech at the Munich Security Council, US Vice President JD Vance told Europe’s leaders that there is “no room for firewalls” in a democracy, a clear nod to the AfD.

Merz will have to contend with a Trump administration that has praised a key rival and appears set on dismantling long-term security ties between Europe and the US.

A strong Berlin government and a united Europe now seems more important than ever. The continent is searching for leadership as Trump moves ahead on Ukraine peace talks without its involvement.

For Merz, Europe’s independence from the US is a prime concern. “My absolute priority will be to strengthen Europe as quickly as possible so that, step by step, we can really achieve independence from the USA,” he said at a televised roundtable with other party leaders Sunday evening.

While Germany’s mainstream has held off a radical far-right government, Merz’s challenges are only just beginning.

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