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WATCH: GOP senators divided over whether Epstein documents are a distraction or a needed reckoning

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Republican senators offered a range of responses when pressed on how the Trump administration has been handling the Epstein files controversy, with some calling it a distraction and others arguing the American people are ‘entitled’ to answers.

Attorney General Pam Bondi announced the ‘first phase’ of declassified files related to Jeffrey Epstein Feb. 27, noting the move was following through on President Donald Trump’s commitment to ‘lifting the veil’ on Epstein and his co-conspirator’s actions. Bondi also said the same month she was in possession of an Epstein ‘client list.’

However, the February declassification contained mostly information and files that had already been publicly available, and the Justice Department subsequently indicated that no ‘client list’ exists. Since then, a series of events, including a clash between FBI Deputy Director Dan Bongino and Attorney General Bondi, have led to mounting pressure on the Trump administration to release more files. 

‘This is factual. Epstein trafficked a lot of young women, some of whom were minors. The American people are entitled to know who — if anyone — he trafficked these young women to, besides himself, and why they weren’t prosecuted,’ John Kennedy, R-La., said. 

‘Now that’s a very simple question that’s at the bottom of all of this. The Department of Justice is going to have to answer that question to the satisfaction of the American people.’

 

Kennedy’s call for transparency comes after the president described the Epstein situation as a ‘hoax’ while blasting Democrats and other ‘weaklings’ who continue to buy into it. 

‘Their new SCAM is what we will forever call the Jeffrey Epstein Hoax, and my PAST supporters have bought into this ‘bull—-,’ hook, line, and sinker,’ Trump wrote on his Truth Social platform last month amid mounting reports of internal division within the administration over its handling of the Epstein case 

When asked about how the Trump administration was handling the Epstein furor, Sen. Markwayne Mullin, R-Okla., said he thought the situation was being used by Democrats to create a ‘distraction’ from the ongoing investigations into former President Biden and others, like the probe related to Biden’s use of an autopen tool to sign important documents and the investigation into whether Obama-era officials manufactured evidence to accuse Trump of Russian collusion.

‘Look what’s being investigated right now through the Biden administration. … So, what are they going to talk about now?’ Mullin asked. ‘This is nothing but a distraction from the actual facts that is coming out about the Biden administration. Of course, the Democrats say, ‘Well, we’re just about transparency.’ Well, where was the transparency the last four years?’

Democrats have suggested Trump could be implicated in the files, but Mullin said that if such a circumstance were true, the information would have been leaked by the Biden administration. 

Mullin’s counterpart in the Senate, Republican Oklahoma Sen. James Lankford took more of a middle ground in his response about how the administration has been handling the Epstein files.

‘The challenge is there are people that are victims that are in it, and there are folks that are not criminals that are in it as well,’ Lankford said. ‘And the challenge the Department of Justice has is you’ve got a girl that was 14, 16 years old and was abused. Well, now she’s, let’s say 26 or 30, married and has children. 

‘Maybe her family knows about this, maybe they don’t. I don’t know the situation, but we gotta figure out a way to be able to protect those folks that are genuine victims on all this as well as getting out as much information as you possibly can.’

For Sen. Susan Collins, R-Maine, the debate about the Epstein files was not something she was interested in talking about when approached by Fox News Digital.

‘I’m going,’ Collins responded when pressed on the matter outside the Capitol complex.


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Prismo Metals Announces Closing of Oversubscribed Private Placement

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(TheNewswire)

Prismo Metals Inc.

Vancouver, British Columbia, August 8th, 2025 TheNewswire Prismo Metals Inc. (‘ Prismo ‘ or the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that further to its news releases dated July 3, 2025, July 18, 2025 and July 31, 2025, the Company has proceeded with an upsized closing of its previously announced non-brokered private placement (the ‘Private Placement’ ) of units of the Company (‘ Units ‘) at an issue price of $0.06 per Unit (the ‘ Third Closing ‘). The closing was increased from 6,000,000 Units to the issuance of 6,425,000 Units for gross proceeds of $385,500.

Each Unit consists of one common share of the Company (a ‘ Share ‘) and one-half of one common share purchase warrant of the Company (each whole warrant, a ‘ Warrant ‘). Each Warrant entitles the holder to purchase one Share for a period of twenty-four (24) months from the date of issue at an exercise price of $0.10.

‘In the past few weeks, we have raised a total of $1,077,500 in gross proceeds reflecting investors’ interest in our recently optioned silver projects in Arizona, the historical high-grade Silver King and Ripsey mines,’ said Alain Lambert, CEO. ‘Exploration at Silver King is currently underway and our Chief Exploration Officer, Dr. Craig Gibson, has put in place a comprehensive first year exploration plan which includes a phase one drill program of a minimum of 1,000 meters.’

Dr. Craig Gibson, Prismo’s Chief Exploration Officer said: ‘The team has arrived on site, and we have begun a detailed mapping and sampling program at both projects at surface exposures and in accessible underground workings. A drill program is planned for Silver King, with about 1,000 metres initially. The Silver King drill program is designed to test the mineralized body at four elevations, as well as lateral to the pipelike body. Dewatering of the Silver King shaft to gain access to the upper levels may also be undertaken as submersible pumps are in place.’

The Company previously announced a first closing of the Private Placement on July 18, 2025 for aggregate gross proceeds of $575,000 and a second closing of the Private Placement on July 31, 2025 for aggregate gross proceeds of $ 117,000 . Due to strong investor demand, the Company has now raised aggregate gross proceeds of $1,077,500. The Company intends to use the aggregate proceeds from the Private Placement for exploration at the Company’s Silver King project as well as for working capital and general corporate purposes. There may be circumstances, however, where for sound business reasons, a reallocation of funds may be necessary.

Prismo also announces that further to its news release dated July 31, 2025, it has settled the debt settlement agreement (the ‘ Agreement ‘) with a creditor of the Company (the ‘ Creditor ‘) pursuant to which the Company issued to the Creditor, and the Creditor accepted, an aggregate of 1,375,000 common shares of the Company (each, a ‘ Settlement Share ‘) at a price of $0.06 per Settlement Share in full and final settlement of accrued and previously outstanding indebtedness owing to the Creditor in the aggregate amount of US $60,000 (CA $82,500) (the ‘ Debt Settlement ‘). The Creditor is one of the original optionors of the Palos Verdes silver project in Mexico, and the Debt Settlement was the final payment owed to the Creditor.

‘The Palos Verdes project remains an important asset for Prismo Metals,’ said Alain Lambert, CEO. ‘We continue to monitor Vizsla Silver’s exploration activities in the Panuco district and how it might impact our exploration plan at Palos Verdes. Mr. Lambert noted: ‘In their July 29 th , 2025 news release , Vizsla Silver stated: Notable targets to be tested in the central, and east area of the district with potential to host similar mineral resources to that outlined in Project #1 in the west include: Jesusita-Palos Verdes is a northeast trending vein target in the east area of the district. Positive drill results and alteration-based interpretations done by Prismo Metals, combined with significant silver anomalies on surface and extensive vein outcrops warrant additional drilling at depth. ‘

The Palos Verdes project is located in the historic Panuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 kilometers NE of Mazatlán, Sinaloa, in the Municipality of Concordia. The Palos Verdes concession (claim) covers 700 meters of strike length of the Palos Verdes vein, a member of the north-easterly trending vein family located in the eastern part of the district outside of the area of modern exploration. The project is surrounded on three sides by Vizsla Silver Corp. (TSE: VZLA).

Shallow drilling (

In connection with the Third Closing, the Company issued an aggregate of 288,900 finder’s warrants (the ‘Finder’s Warrants’ ) and paid finder’s commissions of $17,334.00 to a qualified finder. Each Finder’s Warrant is exercisable for a period of 24 months from the date of issuance to purchase one Share at a price of $0.10.

All securities issued or issuable in connection with the Private Placement and the Debt Settlement are subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

Multilateral Instrument 61-101

The Company has issued an aggregate of 10,000 Units pursuant to the Third Closing to a ‘related party’ of the Company (the ‘ Interested Party ‘), constituting, to that extent, a ‘related party transaction’ as defined under Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (‘ MI 61-101 ‘). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the Interested Party in the Third Closing in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Third Closing nor the securities issued in connection therewith, in so far as the Third Closing involves the Interested Party, exceeds 25% of the Company’s market capitalization. The Company did not file a material change report more than 21 days before the expected closing of the Third Closing as the details of the Third Closing and the participation therein by the Interested Party therein were not settled until recently and the Company wishes to close on an expedited basis for sound business reasons.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is mining exploration company focused on three silver projects (Palos Verdes, Silver King and Ripsey) and a copper project in Arizona (Hot Breccia).

Please follow @PrismoMetals on , , , Instagram , and

Prismo Metals Inc.

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

Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alambert@cpvcgroup.ca

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of 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 intended use of any proceeds raised under the Private Placement.

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: the potential inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated; and other risk factors as detailed  from  time  to  time  and  additional  risks  identified  in  the  Company’s  filings  with  Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca ).

Although management of the Company has attem pted 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 out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Agriculture Market Update: Q2 2025 in Review

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Fertilizer prices continued to rise in Q2, driven by supply shortages as well as fallout from US tariffs.

According to data from the World Bank, the average quarterly phosphate price rose to US$673.20 per metric ton (MT) during the April to June period, up from US$600.50 in Q1 and US$536.70 recorded in the second quarter of 2024.

On a monthly basis, the price averaged US$715.40 in June, up from US$582.70 in January.

Potash prices have also gained since the start of the year, with the quarterly average rising to US$359.20 per MT from US$319.20 in Q1. The monthly price posted consistent increases, rising to US$363.13 in June from US$302 in January.

What factors impacted phosphate in Q2?

Phosphate prices have risen over the last several years as China, the world’s largest supplier, continues to impose export restrictions on the amount of fertilizers allowed to leave the country.

Between 2021 and 2024, China’s phosphate exports experienced significant declines, falling from 9 million MT to 6.6 million MT. Then, in December 2024, China halted new export applications for phosphate due to the rising cost of sulfur, which is necessary for separating phosphates from rock.

In an April 22 article, Josh Linville, vice president of fertilizer at StoneX, noted that during the first three months of 2022, China exported 950,000 MT of phosphate, but only 13,000 MT during the same period in 2025.

At the time, Linville suggested that even if there were to be a shift in Chinese policy during the second quarter, it might not lead to an increase in exports due to a lack of inventory in the country.

“It appears that while they have increased their urea export quota, the same is not expected for phosphate. We continue to believe that domestic demand has been raised due to a combination of agriculture and industrial demand spikes.’

India is among the main drivers of agricultural demand, and the country has been working to rebuild its stockpiles of fertilizer since they reached a low of 1.1 million MT in late 2024. With Chinese supply missing from the equation, importers have had to pay premiums to other major producers in Morocco and Saudi Arabia.

The result has led to a 44 percent increase in Indian imports, which are expected to reach 1.09 million MT for July and 2.16 million MT for the April to July period, while also pushing prices for phosphate upward.

Adding to market stressors since the start of the year are tariffs on products entering the US. As Linville pointed out, phosphate production is limited mainly to five countries: China, Morocco, Russia, the US and Saudi Arabia.

The US is not able to meet domestic demand and has been reliant on Saudi Arabia, which was free of tariffs until it came under the umbrella of Trump’s 10 percent baseline tariffs when he announced them on April 1.

However, given the tightness in the phosphate market, suppliers are unlikely to absorb any additional costs.

“Globally, supplies are very tight, and demand continues to be high, so global manufacturers can be picky about where they send their products. Given that they want to make more money, they are likely deciding to send the product to their highest netback location. Saudi Arabia has been heard telling US customers that they have no problem sending products to the US if they pay the tariff rate,” Linville explained. He added that the extra 10 percent on the current phosphate prices is a significant cost, and will ultimately flow down to US farmers.

What factors impacted potash in Q2?

Potash prices have steadily increased since the start of the year, but the market has been relatively quiet.

“Today, potash is seeing a little price support due to perceived tight supplies and large demand,’ said Linville.

Since the start of the year, potash prices have increased by 20 percent, rising to US$363 in June from US$302 in January. On a year-on-year basis, the June price is up 17 percent from the US$310 recorded in 2024. However, prices are far from the all-time high of US$1,200 set in April 2022 as supply lines were disrupted after Russia’s invasion of Ukraine.

With minimal potash production of its own, the US is reliant on imports. Traditionally, those have come from Canada, which is the world’s top supplier of fertilizer, but also to a lesser extent, Russia, which is number two.

While uncertainty remains about whether tariffs will have a direct effect on prices for potash, Linville suggested that there may be some cost increases stemming from this uncertainty.

“To date, Russia has not had a duty or tariff regarding potash, so the product has been allowed to flow freely. Our belief is that Canadian potash has never been subjected to an actual tariff rate given its standing on the North American trade agreements. However, with so much confusion regarding what is real and what is not out there, the fear that it might be included helped to push prices higher almost constantly since the start of 2025,’ he said.

‘Again, those prices make their way to the farm gate.’

New supply set to come online includes BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) Jansen mine in Saskatchewan. It was originally set to start production in 2026; however, in its Q2 operational review, released on July 18, BHP announced that the project costs had ballooned to the US$7 billion to US$7.4 billion range, up from US$5.7 billion.

The increase has impacted the project’s timeline. Up until the announcement, development was ahead of schedule and was expected to start in 2026, but it has since reverted to the original timeline that will see it begin in 2027.

Additionally, BHP said it was considering pushing the second stage of production back to 2031 while it undergoes a CAPEX review, citing the potential for additional potash supply coming to market in the medium term.

“The comment about the medium-term supply outlook was a rather small and inconspicuous part of the announcement, but I continue to believe it says loads more about the outlook,” Linville said about BHP’s decision to review stage two.

Potash and phosphate price forecast for 2025

The phosphate market is unlikely to change in the near term.

There isn’t much expectation that China will increase supply, and while there are some significant projects in the works, how many will enter the production is yet to be seen as demand continues to increase from the battery sector.

Linville sees a continuation of current trends, noting that the market isn’t in a place to recover quickly:

“A major discussion point has been surrounding demand destruction that is anticipated. The hope is that this will help values to fall. Unfortunately, I think the market continues to underestimate how bad of a shape phosphate is in.’

As for potash, Linville expects the market to maintain stability.

“My longer-term outlook is that potash values will see relatively little price volatility, and that lower prices should become common. However, the stage appears set for 2025. Summer fill programs have been successful. Demand continues to look good. Anything is possible, but it appears price structures for potash are stable to higher,” he said.

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

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Lode Gold Completes Final Tranche Financing for Total $1.51 Million

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Lode Gold Resources Inc. (TSXV: LOD,OTC:LODFF) (OTCQB: LODFF) (‘Lode Gold’ or the ‘Company’) is pleased to announce that it has completed the third and final tranche of its previously announced non-brokered private placement offering for $1 million. In this final tranche, the Company has raised an additional $326,780 through the issuance of 1,815,446 Units at a price of $0.18 per Unit. The Company has now raised a total of $1,513,768 through the issuance of 8,409,825 Units.

Each $0.18 unit consists of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at an exercise price of $0.35 per common share for a period of three years following the date of closing.

The Company may accelerate the warrant expiry date if the Company’s shares trade at $0.65 or more for a period of 10 days, including days where no trading occurs. The closing of the offering is expected to occur one business day following receipt of all required regulatory approvals.

The proceeds raised from the offering will go toward execution of the business plans for Lode Gold and its subsidiary, Gold Orogen (BC 1475039 Ltd.).

About Lode Gold

Lode Gold (TSXV: LOD,OTC:LODFF) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

In Canada Lode Gold holds assets in the Yukon and New Brunswick. Lode Gold’s Yukon assets are located on the southern portion of the prolific Tombstone Belt and cover approximately 99.5 km2 across a 27 km strike. Over 4,500 m have been drilled on the Yukon assets with confirmed gold endowment and economic drill intercepts over 50 m. There are four reduced-intrusive targets (RIRGS), in addition to sedimentary-hosted orogenic exploration gold.

In New Brunswick, Lode Gold, through its subsidiary 1475039 B.C. Ltd., has created one of the largest land packages in the province with its Acadian Gold Joint Venture, consisting of an area that spans 445 km2 with a 44 km strike. It has confirmed gold endowment with mineralized rhyolites.

In the United States, the Company is focused on its advanced exploration and development asset, the Fremont Mine in Mariposa, California. It has a recent 2025 NI 43-101 report and compliant MRE that can be accessed here https://lode-gold.com/project/freemont-gold-usa/.

Fremont was previously mined until gold mining prohibition in WWII, when its mining license was suspended. Only 8% of the resource identified in the 2025 MRE has been extracted. This asset has exploration upside and is open at depth (three step-out holes at 1,300 m hit structure and were mineralized) and on strike. This is a brownfield project with over 43,000 m drilled, 23 km of underground workings and 14 adits. The project has excellent infrastructure with close access to electricity, water, state highways, railhead and port.

The Company recently completed an internal scoping study evaluating the potential to resume operations at Fremont based on 100% underground mining. Previously, in March 2023, the Company completed a Preliminary Economic Assessment (‘PEA’) in accordance with NI 43-101 which evaluated a mix of open pit and underground mining. The PEA and other technical reports prepared on the Company’s properties are available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.lode-gold.com).

ON BEHALF OF THE COMPANY
Wendy T. Chan
CEO & Director

Information Contact:

Wendy T. Chan
CEO
info@lode-gold.com
+1-(604)-977-GOLD (4653)

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (604) -977-GOLD (4653)

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.

Cautionary Statement Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company’s interpretation of drill results; the geology, grade and continuity of the Company’s mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading ‘Risks and Uncertainties’ in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261839

News Provided by Newsfile via QuoteMedia

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Crypto Market Update: Ethereum Rallies Past US$4,000, Trump Orders Crypto Review in 401(k)

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Here’s a quick recap of the crypto landscape for Friday (August 8) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$116,381, trading flat over the last 24 hours. Its highest valuation on Friday was US$116,112, while its lowest valuation was US$117,596.

Bitcoin price performance, August 8, 2025.

Chart via TradingView

Ethereum (ETH) was priced at US$3,956.05, up by 3.3 percent over the past 24 hours. Its lowest valuation on Friday was US$3,806.16, and its highest was US$3,997.11.

Altcoin price update

  • Solana (SOL) was priced at US$175.34, up by 2.8 percent over 24 hours. Its lowest valuation on Friday was US$168.36, and its highest was US$178.02.
  • XRP was trading for US$3.24, up by 6.1 percent in the past 24 hours. Its lowest valuation of the day was US$3.03, and its highest valuation was US$3.37.
  • Sui (SUI) is trading at US$3.75, up 0.5 percent over the past 24 hours. Its lowest valuation of the day was US$3.67, and its highest was US$3.88.
  • Cardano (ADA) was trading at US$0.7825, up by 2.9 percent over 24 hours. Its lowest valuation on Friday was US$0.7521, and its highest was US$0.8044.

Today’s crypto news to know

Ethereum breaks US$4,000 as Ripple and Chainlink spark altcoin rally

Ethereum surged past US$4,000 early Friday, hitting near year-to-date highs amid a broader rally in altcoins led by Ripple and Chainlink.

XRP jumped up to 8 percent after Ripple announced a US$200 million acquisition of Rail, a stablecoin payments platform designed to expand its cross-border settlement network.

Chainlink’s LINK token rose as much as 11 percent following news of its new Chainlink Reserve, which will accumulate LINK using revenue from institutional and on-chain fees.

Other major coins, including Solana, also saw gains in early trading. Ripple’s deal aims to integrate stablecoin pay-ins and payouts for USD and other currencies without requiring businesses to hold crypto.

The rally also coincided with President Trump’s executive order promoting alternative assets like crypto in retirement accounts, adding to bullish sentiment in the market.

Trump order opens door for Crypto and private equity in 401(k)s

President Trump has signed an executive order directing the Labor Department to review its fiduciary rules for retirement plans, potentially clearing the way for assets like cryptocurrency, private equity, and real estate to be included in 401(k)s.

While no laws have changed, the move signals a shift from the Biden-era stance that warned against crypto in retirement accounts.

The Employee Retirement Income Security Act (ERISA) still requires fiduciaries to choose “prudent” investments, meaning employers will need to justify the inclusion of volatile or opaque assets. Legal experts say the order could influence how federal agencies interpret the rules, but it won’t override decades of court precedents on fiduciary duty.

For now, employers remain cautious due to the risk of lawsuits over imprudent or overly expensive options. Crypto in 401(k)s remains rare, though large firms like BlackRock are already exploring target-date funds with alternative assets.

Binance artners with Spain’s BBVA to bolster asset security

Binance is teaming up with Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second-largest bank, to give customers the option of storing their assets with a regulated custodian rather than directly on the exchange.

The arrangement is designed to reassure investors after Binance’s US$4.3 billion fine from US regulators in 2023 over anti–money laundering failures.

With BBVA acting as an independent custodian, customer funds would remain secure even if Binance faced hacking, insolvency, or further regulatory action. The partnership leverages BBVA’s strong reputation for compliance and innovation, aiming to encourage more cautious investors to engage with crypto.

The move also follows leadership changes at Binance, including founder Changpeng Zhao’s resignation and brief prison sentence, as the company works to repair its image.

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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Trump’s 39% Tariff on Gold: Revenue Grab or Prelude to Revaluation?

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In the early hours of trading on Friday, August 8, 2025, global markets were shaken by the announcement of a 39 percent tariff on imported gold bars weighing 100 ounces or more by the Trump administration. US December gold futures reached an all-time high price of $3,534.10 per ounce shortly after the declaration was made. This sudden move injected uncertainty into the bullion market, unsettling dealers, refiners, and institutional investors trading in larger “exchange delivery” formats. While gold is rarely targeted by protectionist measures — unlike base metals, agriculture, or manufactured goods — this decision warrants close attention, both for its immediate market impact and potential implications for future monetary policy.

Likely Purposes

From an economic perspective, there are several plausible motivations (several of which may hold true simultaneously) for such a steep and sudden measure.

  1. Raising Revenue

    The simplest explanation is fiscal. A 39 percent levy on high-value imports is a substantial revenue generator, particularly if the target is a commodity with significant daily transaction volume.
  2. Targeting Switzerland

    The tariff could also be intended to primarily target Switzerland, a key player in global gold refining and bar creation. Switzerland is central to the gold supply chain, as it refines and standardizes much of the world’s gold before it’s distributed. By imposing a tariff on large gold imports, the US could limit Switzerland’s ability to sell refined gold at favorable prices, disrupting its dominance. This move would reduce reliance on Swiss refining and could be a response to recent tensions between Switzerland and the US over trade and tariff disputes. It signals the US aiming to punish Switzerland for its perceived intransigence in tariff discussions, as well attempting to wrest some control away from foreign gold pricing.
  1. Restricting Supply and Controlling Markets

    A more strategic interpretation is that the administration may be attempting to restrict the flow of foreign gold into the US market. By making imports of 100-ounce bars prohibitively expensive, policymakers could reduce inflows, tightening domestic supply and potentially influencing prices. This approach mirrors past episodes where governments have sought to control the domestic availability of gold ahead of significant policy changes.
  2. Countering Money Laundering and Imposing Compliance Costs

    Gold is often used in international transactions, particularly among institutional investors or high-net-worth individuals, as a way to move value across borders with fewer restrictions. By imposing a tariff, the US could be making it more expensive for these large transactions to occur within its borders, thereby reducing the attractiveness of using gold for these purposes. While it wouldn’t directly address outflow-related money laundering, the tariff could serve to discourage the use of gold bars in cross-border wealth transfers into the US, which could be seen as a measure to limit some money-laundering opportunities.
  3. Positioning Ahead of a Major Policy Shift

    A 39 percent tariff on gold bars over 100 ounces could be a preparatory measure for the US to revalue its gold reserves, which are currently undervalued at $42 per ounce. The tariff could prevent arbitrage by limiting the ability of speculators to buy gold at lower international prices and sell it domestically at a higher future price, particularly if the US plans to revalue its gold to market prices around $3,200 per ounce. It would also help accumulate gold within the US, ensuring that domestic supply is maintained for a potential gold-backed or partially gold-backed dollar. Additionally, the tariff could stabilize domestic gold prices, mitigate speculation, and prepare the market for revaluation, signaling an intention to shift away from the dollar’s exclusive backing. This would reduce external manipulation and maintain US control over its gold supply, easing the transition to a new monetary framework while strengthening the dollar’s global position.

The Arbitrage Dimension

Ironically, if the tariff leads to a sustained domestic price premium for 100-ounce bars — either because of higher import costs or restricted supply — it could create exactly the kind of large-scale arbitrage the measure may have been intended to suppress.

Arbitrage occurs when price discrepancies for the same asset exist in different markets, allowing traders to buy low in one venue and sell high in another. In this case, if US gold prices rise sharply relative to London, Zurich, or Hong Kong due to the tariff, there will be a strong incentive for market participants to find ways to bypass the tariff or repackage gold into non-tariffed forms (such as smaller bars or coins) to import at lower cost.

At the institutional level, this could take the form of shipping gold to jurisdictions without the tariff, refining it into untaxed units, and then legally reintroducing it into the US market. On the futures side, arbitrageurs might use COMEX delivery mechanisms, swaps, or other derivative structures to capture the spread between the artificially elevated domestic price and the world market price. While such activity would eventually narrow the gap, it could generate windfall profits in the interim — ironically undermining the tariff’s supply-restriction intent and adding volatility to the very market it seeks to control.

Historical Precedents

Although the United States today operates under a fiat monetary system, the federal government has a long history of direct and indirect intervention in the gold market — often under the banner of “monetary stability” or “national interest.”

The most famous episode came in 1933–34, when the Roosevelt administration, facing a banking crisis and deep deflation, first prohibited the private ownership of most gold coins and bullion, then revalued gold from $20.67 per ounce to $35 per ounce. This represented a devaluation of the dollar’s gold content by nearly 41 percent and transferred substantial wealth from private holders to the government’s balance sheet. Importantly, the sequence began with restrictions on ownership and movement of gold — control first, revaluation second.

In the early 1970s, as the Bretton Woods system frayed, President Nixon “closed the gold window,” ending the dollar’s convertibility into gold for foreign central banks. While framed as a temporary suspension, it effectively severed the last formal link between the dollar and gold, freeing the Federal Reserve to pursue more accommodative monetary policies without the discipline of a fixed parity.

Even after the dollar floated freely, interventions persisted. In the late 1970s, as inflation accelerated and gold prices surged, the Treasury engaged in large-scale gold sales and swaps — sometimes in coordination with other central banks — to temper upward price movements. These efforts were often more symbolic than decisive, but they reinforced the notion that US authorities considered gold prices a matter of policy concern.

The 39 percent tariff on gold imports highlights the core concern that led EC Harwood to found the American Institute for Economic Research’s — the ongoing threat posed by governmental interventions in personal freedom and sound money. While the gold market should reflect private demand, mining supply, and global investment flows, it is often distorted by policies that serve short-term political goals. This tariff, with its abrupt implementation and targeted impact, risks distorting market pricing and suppressing economic freedom. It underscores the truth that, in times of fiscal strain or geopolitical risk, governments often turn to gold as a convenient target for intervention.

The immediate effects will likely be felt most by large bullion traders and institutional investors, with wider price differentials and reduced liquidity in the US market. History shows such measures rarely occur in isolation, and this could signal a broader shift in US monetary policy — whether revenue-driven or something more substantial. What’s clear is that AIER’s mission, focusing on defending financial freedom and sound money, remains as relevant as ever. The risks to market integrity that inspired our founding persist, and defending open markets and sound money continues to be an urgent, vital necessity.

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US appeals court blocks Trump contempt proceedings ordered by Boasberg

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The U.S. Court of Appeals for the D.C. Circuit ruled 2-1 Friday that U.S. District Judge James Boasberg cannot move forward with possible contempt proceedings against the Trump administration.

The case involves the administration’s alleged violation of an emergency court order blocking the administration from using a 1798 law to summarily deport hundreds of Venezuelan migrants to El Salvador — the latest in an evolving, high-stakes court clash that has played out for months in various courts. 

Judges Gregory Katsas and Neomi Rao, two Trump appointees on the majority-Democrat bench, sided with the Trump administration Friday in blocking Boasberg’s contempt motion from moving forward. 

Judge Nina Pillard, an Obama appointee, dissented. 

The 2-1 ruling is all but certain to be appealed to the full court to be heard en banc, where the Democrat-majority bench is seen as more favorable to the plaintiffs, or directly to the Supreme Court for review.

‘The district court here was placed in an enormously difficult position,’ Katsas said Friday, writing for the majority.

‘Faced with an emergency situation, it had to digest and rule upon novel and complex issues within a matter of hours. In that context, the court quite understandably issued a written order that contained some ambiguity.’

Katsas noted that the appellate court ruling does not center on the lawfulness of Trump’s Alien Enemies Act removals in March, when administration officials invoked the 1798 immigration law to send more than 250 Venezuelan nationals to CECOT, the maximum-security prison in El Salvador.

‘Nor may we decide whether the government’s aggressive implementation of the presidential proclamation warrants praise or criticism as a policy matter,’ he added. ‘Perhaps it should warrant more careful judicial scrutiny in the future. Perhaps it already has.’

‘Regardless, the government’s initial implementation of the proclamation clearly and indisputably was not criminal.’

The ruling comes months after Boasberg originally found grounds to move on potential contempt proceedings in the case.

It comes as Boasberg has also ordered ongoing status updates on the location and custodial status of the 252 CECOT class migrants, after they were deported last month from El Salvador to Venezuela as part of a prisoner exchange between the U.S. and Venezuela.

It is unclear how many of those migrants had pending asylum applications in the U.S. or had been granted a ‘withholding of removal’ order blocking their return to their country of origin. 

The long-awaited ruling comes months after Boasberg ruled that the court had found probable cause to move on criminal contempt proceedings after he issued a late-night temporary restraining order on March 15 blocking the Trump administration’s use of the Alien Enemies Act to summarily deport certain migrants to El Salvador.

Boasberg had also ordered all migrants to be ‘immediately returned’ to U.S. soil, which did not happen. 

Despite the order, hundreds of migrants were deported to the Salvadorian prison, CECOT, in March, where they remained until late last month, when they were sent from the prison in El Salvador to Venezuela, as part of the prisoner exchange. 

Boasbeg ruled in April that there was ‘probable cause’ to move on criminal contempt proceedings against the Trump administration for failing to return the planes to U.S. soil and said the court had determined that the Trump administration demonstrated a ‘willful disregard’ for his order.

The appeals court granted the Trump administration’s request for an emergency stay of the ruling months earlier, prompting questions as to why they did not move more quickly on the motion.


 

Still, the decision is almost certain to be appealed either to the full circuit court to be heard en banc, or directly to the Supreme Court for review. 

The Trump administration for months has sparred with judges who have blocked the president’s executive orders from taking force.

Boasberg, in particular, has emerged as one of Trump’s biggest public foes. Last month, the court attempted to have him removed from overseeing the case and have it reassigned to another case — a long-shot effort that legal experts and former judges suggested is unlikely to go far.

This is a breaking news story. Check back for updates.


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OTCQB Venture Virtual Investor Conference: Presentations Now Available for Online Viewing

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Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the OTCQB Venture Virtual Investor Conference, held August 7 th are now available for online viewing.

REGISTER AND VIEW PRESENTATIONS HERE

The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company’s resource section.

Select companies are accepting 1×1 management meeting requests through August 13 th .

August 7 th

Presentation Ticker(s)
Surge Copper. Corp (OTCQB: SRGXF | TSXV: SURG)
ReGen III Corp. (OTCQB: ISRJF | TSXV: GIII)
Silver47 Exploration Corp. (OTCQB: AAGAF | TSXV: AGA,OTC:AAGAF)
Nature’s Miracle Holding Inc. (OTCQB: NMHI)
Zero Candida Technologies Inc. (OTCQB: ZCTFF | TSXV: ZCT)
NextGen Digital Platforms Inc. (OTCQB: NXTDF | CSE:  NXT)
Telo Genomics Corp. (OTCQB: TDSGF | TSXV: TELO)
Zomedica Corp. (OTCQB: ZOMDF)
Metaguest.AI Incorporated (OTCQB: MGSTF | CSE: METG)
Waste Energy Corp. (OTCQB: WAST)
CleanGo Innovations Inc. (OTCQB: CLGOF | CSE: CGII)
Sekur Private Data Ltd. (OTCQB: SWISF | CSE: SKUR)
CyberCatch Holdings, Inc. (OTCQB: CYBHF | TSXV: CYBE)

To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .

About Virtual Investor Conferences ®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

Media Contact:
OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com

Virtual Investor Conferences Contact:
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com

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Quimbaya Gold Starts Drilling at Tahami South, Testing Undrilled Gold System Beside Aris’ Segovia Mine

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The 4,000m drilling campaign aims to unlock district-scale potential by testing a possible extension of Aris’ producing vein system in Colombia’s premier high-grade gold corridor

Quimbaya Gold Inc. (CSE: QIM,OTC:QIMGF) (OTCQB: QIMGF) (FSE: K05) (‘Quimbaya’ or the ‘Company’) is pleased to announce the commencement of its inaugural diamond drill campaign at the 100%-owned Tahami South Project in Antioquia, Colombia. The fully permitted 4,000-meter program marks Quimbaya’s transition from surface exploration to drill-testing in one of the country’s most prolific gold-producing districts.

Highlights

  • Tahami South is located adjacent to Aris Mining’s Segovia Mine, one of Colombia’s highest-grade and most productive gold operations.

  • The project covers a series of mapped epithermal gold-silver veins that trend through both the Segovia Mine and onto Quimbaya’s ground.

  • Despite extensive artisanal activity and positive surface sampling, the property has never seen diamond drilling.

  • Quimbaya’s 2025 fieldwork outlined multiple drill-ready targets with strong geochemistry, hydrothermal alteration, and structural control.

  • Drilling began in early August 2025, with initial results anticipated in Q4.

A Strategic First Drill Test in Colombia’s Premier Gold District

Tahami South lies within the Colombia’s premier high-grade corridor, a region known for high-grade quartz epithermal gold systems. Recent work by Quimbaya has confirmed widespread alteration, stockwork veins, and placer-style artisanal mining, all indicators of a potentially fertile gold system.

‘The old adage in exploration holds true: the best place to find a mine is next to a mine,’ said Alexandre P. Boivin, CEO of Quimbaya Gold. ‘We’re the first company to deploy modern exploration on this part of the Segovia trend. Our systematic work, including soil geochemistry, channel and rock sampling, stream sediments sampling and structural modelling, has built a robust case for drill testing. We’re now turning that data into action.’

Drill Targets and Geological Context

The initial program will test multiple zones across a structural corridor interpreted to be a continuation of the Segovia vein system. Planned holes will target:

  • Structural intersections mapped across sections A-A’, B-B’, C-C’, E-E’ and H-H’

  • Zones with strong sericitic alteration, quartz veins, hydrothermal breccias, and gold-bearing stockworks

  • Areas proximal to active artisanal workings, suggesting near-surface mineralisation

Surface sampling has returned:

  • Rock chip assays up to 11.21 g/t Au

  • Panel rock assays up to 23.3 g/t Ag

  • Auger soils up to 59 ppb Au and MMI soils up to 37.1 ppb Au

  • Multi-element pathfinder anomalies (As, Cu, Pb, Zn) coincident with structural targets

‘This program is the culmination of months of disciplined geoscience,’ said Ricardo Sierra, VP Exploration. ‘We’ve mapped out structural trends, alteration zones, and artisanal footprints that all suggest a large-scale epithermal system. Now, we’re finally testing it below surface.’

Cannot view this image? Visit: https://images.newsfilecorp.com/files/11347/261779_f9d44764a4c268ae_001.jpg

Figure 1. Planned drill platforms (TDH -001 to TDH-007) overlaid on gold-in-auger soil anomalies (Au g/t) and rock sample assay values (Au g/t) at the Tahami South Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/261779_f9d44764a4c268ae_001full.jpg

Next Steps:

Drilling will continue through Q3 2025 with initial assay results expected in Q4. Follow-up drilling is being planned in parallel to expand on any intercepts and test new targets defined through ongoing mapping and geological exploration.

Qualified Person
The technical information in this news release has been reviewed and approved by Ricardo Sierra, a Qualified Person as defined by National Instrument 43-101.

About Quimbaya

Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific gold mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.

Contact Information

Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com

Sebastian Wahl, VP Corporate Development swahl@quimbayagold.com

Quimbaya Gold Inc.
Follow on X @quimbayagoldinc
Follow on LinkedIn @quimbayagold
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Cautionary Statements

Certain statements contained in this press release constitute ‘forward-looking information’ as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, but not always, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’, ‘expects’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. Forward-looking statements herein include statements and information regarding the Offering’s intended use of proceeds, any exercise of Warrants, the future plans for the Company, including any expectations of growth or market momentum, future expectations for the gold sector generally, the Colombian gold sector more particularly, or how global or local market trends may affect the Company, intended exploration on any of the Company’s properties and any results thereof, the strength of the Company’s mineral property portfolio, the potential discovery and potential size of the discovery of minerals on any property of the Company’s, including Tahami South, the aims and goals of the Company, and other forward-looking information. Forward-looking information by its nature is based on assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to, that the Company’s exploration and other activities will proceed as expected. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: future planned development and other activities on the Company’s mineral properties; an inability to finance the Company; obtaining required permitting on the Company’s mineral properties in a timely manner; any adverse changes to the planned operations of the Company’s mineral properties; failure by the Company for any reason to undertake expected exploration programs; achieving and maintaining favourable relationships with local communities; mineral exploration results that are poorer or better than expected; prices for gold remaining as expected; currency exchange rates remaining as expected; availability of funds for the Company’s projects; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; the Offering proceeds being received as anticipated; all requisite regulatory and stock exchange approvals for the Offering are obtained in a timely fashion; investor participation in the Offering; and the Company’s ability to comply with environmental, health and safety laws. Although Quimbaya’s management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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Trump and Putin’s relationship turns sour as president pushes for resolution with Ukraine

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While President Donald Trump previously refrained from speaking ill of Russian President Vladimir Putin, those days are over. 

The ongoing war between Russia and Ukraine has changed the nature of their dynamic. Although the two appeared to get along, at least publicly, during Trump’s first administration, their relationship has unraveled as the more recent conflict persists. 

In recent weeks, Trump has refused to mince his words when asked about Putin. Trump said during a Cabinet meeting July 8 he was fed up with Putin and said he was eyeing potentially imposing new sanctions on Russia. 

‘We get a lot of bulls— thrown at us by Putin, if you want to know the truth,’ Trump said. ‘He’s very nice all the time, but it turns out to be meaningless.’ 

John Hardie, Russia program deputy director at the Foundation for Defense of Democracies, said Russia started to attract ire from Trump dating back to March after Ukraine agreed to a 30-day ceasefire. But Russia has failed to get on board with a ceasefire. 

‘Really, since then, I think Trump has come to view the Russians as the main impediment to a deal,’ Hardie told Fox News Digital Thursday. 

Additionally, Hardie said that Trump has also grown frustrated that Russia will launch drone and missile attacks against Ukraine, even after directly speaking with Putin. 

‘What he’s sort of latched on to are these Russian drone and missile barrages,’ Hardie said. ‘That really seems to resonate with him.’  

Tensions only have continued to escalate between the U.S. and Russia since the July Cabinet meeting. 

Trump announced July 14 that he would sign off on ‘severe tariffs’ against Russia if Moscow failed to agree to a peace deal within 50 days. He then dramatically reduced the deadline to only 10–12 days — which ends Friday. 

The decision to reduce the timeline prompted former Russian President Dmitry Medvedev to caution that ‘each new ultimatum is a threat and a step towards war.’ 

In addition to economic sanctions, Trump responded to Medvedev and issued a rare statement disclosing that two U.S. Navy submarines would be moved in response to escalating threats from Russia. 

‘I have ordered two Nuclear Submarines to be positioned in the appropriate regions, just in case these foolish and inflammatory statements are more than just that,’ Trump said Aug. 1. 

Trump’s disclosure of the submarine presence puts additional pressure on Russia to come to the negotiating table, according to Bryan Clark, a retired submarine officer and director of the Hudson Institute think tank’s Center for Defense Concepts and Technology.

‘We have used very sparingly submarines to try to influence adversary behavior before, but this is pretty unusual, to do it against a nuclear-powered adversary like Russia in response to a nuclear threat by Russia,’ Clark told Fox News Digital Monday. ‘So I think this is trying to essentially push back on Russia’s frequent and long-standing threats to use nuclear weapons in part of the Ukraine conflict.’

Momentum is picking up on negotiations though, and U.S. Special Envoy Steve Witkoff met with Putin Wednesday. 

Trump said in a post on Truth Social afterward that ‘great progress’ was made during the meeting. And now, Trump and Putin are expected to meet face to face imminently in an attempt to finally advance negotiations to end the war between Russia and Ukraine. 

Still, Hardie said he is skeptical that the meeting between Putin and Trump will result in meaningful progress. 

‘I don’t expect a summit to produce much,’ Hardie said. ‘And I think Putin could try to use the summit to placate Trump and kind of buy more time continues assault on Ukraine, but I think his goal is he’d love to be able to enlist Trump in his effort to impose these harsh terms on Ukraine.’ 

Russia has pushed for concessions in a peace deal that include barring Ukraine from joining NATO, preventing foreign peacekeeper troops from deploying to Ukraine after the conflict, and adjusting some of the borders that previously were Ukraine’s.

It’s unclear if Trump plans to announce any additional economic burdens upon Russia Friday in accordance with the deadline that he imposed demanding that Russia signal willingness to end the conflict. But according to Trump, the ball is in Putin’s court. 

‘It’s going to be up to him,’ Trump told reporters Thursday. ‘We’re going to see what he has to say. It’s going to be up to him. Very disappointed.’

The White House did not disclose any details regarding potential Friday sanctions, but said that Trump wants to meet with Putin and Ukrainian President Volodymyr Putin to resolve the conflict. 

‘The Russians expressed their desire to meet with President Trump, and the President is open to this meeting,’ White House press secretary Karoline Leavitt said in a statement to Fox News Digital. ‘President Trump would like to meet with both President Putin and President Zelensky because he wants this brutal war to end. The White House is working through the details of these potential meetings and details will be provided at the appropriate time.’


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