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Crypto Market Recap: SEC Dismisses Coinbase Case, Crypto Exchange Bybit Hacked

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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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Prismo Provides Corporate Update

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(TheNewswire)

Prismo Metals Inc.

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


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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.

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Silver Crown Royalties Engages Investor Cubedfor Investor Relations and Closes First Tranche Of Non-Brokered Private Placement

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(TheNewswire)

Silver Crown Royalties

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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Experts: Battery and Precious Metals Emerging as New Geopolitical Battleground

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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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Updated Scoping Study Highlights Billion-Dollar Potential— Positioning ARR as a Future Rare Earth Leader in the USA

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American Rare Earths (ASX: ARR | OTCQX: ARRNF and AMRRY) (“ARR” or the “Company”) is pleased to announce the results of its Updated Halleck Creek Scoping Study, confirming the project’s strong economics, scalability, and strategic importance.

HIGHLIGHTS

  • Strong economics, scalable growth: 3 Mtpa base case offers NPV10% of US$558M, IRR 24%, with a low-risk CAPEX of US$456M.
  • Billion-dollar potential: 6 Mtpa case delivers NPV10% of US$1.17B, IRR 28.4%, and CAPEX of US$737M.
  • First-mover advantage: State land tenure accelerates permitting, positioning ARR as a leading U.S.- based rare earths developer independent of tariffs and reliance on foreign processing.
  • Vast Scalability & Growth: The 3 Mtpa Phase 1 will mine ~62.3Mt of ore over 20 years, utilising just ~2.4% of the 2.63Bt JORC resource2. With further studies underway, Halleck Creek could support a larger, long-term operation, with potential for extended mine life and increased production capacity.
  • Deposit remains open at depth and along strike, with the current JORC resource of 2.63Bt covering only ~16% of the greater Halleck Creek surface area, highlighting significant expansion potential.

Compiled by independent engineering firm Stantec Consulting Services Inc., the Study highlights Halleck Creek’s strong economic potential, strategic advantages, and clear pathway to development as a U.S.-based rare earths project. Located in Wyoming, a Tier 1 mining jurisdiction, Halleck Creek benefits from state land tenure, allowing for accelerated permitting and development.

Compelling Economics & Scalable Growth

The Updated Scoping Study confirms Halleck Creek as a world-class rare earths project with robust financials and long-term scalability:

  • 3 Mtpa Base Case:
    • NPV10% of US$558 million, IRR of 24%
    • CAPEX of US$456 million, with a 2.7-year payback period
    • Annual production: ~4,169 metric tons of TREO, including 1,833 metric tons of NdPr oxide
  • 6 Mtpa Case:
    • NPV10% of US$1.171 billion, IRR of 28.4%
    • CAPEX of US$737 million, with a 1.8-year payback period
    • Annual production: ~7,661 metric tons of TREO, including 3,344 metric tons of NdPr oxide

First-Mover Advantage & U.S. Supply Chain Security

As the only large-scale rare earths project in the U.S. with a clear path to production, ARR is positioned to secure a domestic, tariff-free supply of critical minerals for U.S. and allied markets.

  • China controls over 90% of global rare earth refining. With the U.S. prioritizing supply chain security, ARR is uniquely positioned as a credible U.S.-based developer to deliver a fully integrated solution— from mining to refining.
  • State land tenure accelerates permitting, avoiding the lengthy delays often associated with projects on federal land.
  • Halleck Creek’s 100% U.S.-based production and refining will ensure a secure, domestic supply of rare earth oxide metals—eliminating reliance on foreign supply chains and reinforcing the ‘Made in America’ commitment.
  • Deposit remains open at depth and along strike, with the current JORC resource of 2.63Bt covering only ~16% of the greater Halleck Creek project area, highlighting significant expansion potential.

Clear Development Pathway & Future Growth

Halleck Creek’s staged development approach ensures financial and operational flexibility, allowing ARR to scale production in alignment with market demand:

  • Base Case: 3 Mtpa – Low-risk entry to production to produce an average of 4,169 mt of TREO per annum, including 1,833 mt of NdPr Oxide.
  • Alternate Case: Scalable to 6 Mtpa – Enhancing project economics, producing an average of 7,661 mt TREO per annum, including 3,334 mt of NdPr Oxide
  • Future Expansion Potential: The Cowboy State Mine (“CSM”) represents only Phase 1 of Halleck Creek’s development, benefiting from a strategic permitting advantage. The 20-year CSM LOM plan includes mining approximately 62.3 Mt of ore—just ~2.4% of the total 2,627 Mt JORC Mineral Resource—highlighting the vast potential for extended mine life and increased production in future phases. Given the increasing demand for rare earths, ARR is evaluating further studies, as Halleck Creek could support a much larger, long-term operation, with potential for extended mine life and increased production capacity that could position ARR among the top rare earth producers outside China.

CEO Commentary

Chris Gibbs, CEO of American Rare Earths, commented:

‘The Updated Scoping Study reinforces Halleck Creek strong economic potential, strategic permitting advantage and clear pathway to development. With a large-scale resource and favourable economics, we are uniquely positioned to help secure America’s rare earth supply and reduce dependence on foreign sources.

‘The 6 Mtpa case highlights Halleck Creek’s billion-dollar potential, delivering an NPV10% of US$1.17B and an IRR of 28%, showcasing the project’s scalability. The 3 Mtpa base case offers a low-risk entry point, producing 1,833 metric tonnes of NdPr oxide annually, with an NPV10% of US$558M, an IRR of 24%, and a 2.7-year payback period.

‘With a scalable development pathway under evaluation, Halleck Creek has the potential to become a major supplier to U.S. and allied markets. Future production scenarios could position ARR among the top rare earth producers outside China, reinforcing America’s supply chain security for decades to come.

‘And we’re not just mining—we are developing a fully integrated U.S. supply chain, refining and producing high- purity rare earth oxides for American manufacturers. Halleck Creek aligns with the growing push for Made-in- America critical minerals, securing a domestic supply for defense, aerospace, and high-tech manufacturing.”

Next Steps & Milestones

Building on strong execution in 2024, ARR is advancing key milestones to further de-risk and develop Halleck Creek, as outlined in the Updated Scoping Study and supported by recent metallurgy results. These developments reinforce the project’s scalability and strategic importance as a leading U.S. rare earths asset. With a staged development approach, first production could be as early as 2029, subject to ongoing technical and economic assessments. The Company is looking at ways to fast-track development, including plans to commence Phase One of a pilot plant for the beneficiation process. The roadmap ahead highlights key next steps for 2025 and the next major stage gate in the project’s development.

Click here for the full ASX Release

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Brunswick Exploration Announces 2025 Exploration Plans for Greenland and Stakes Additional Ground Near Paamiut

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Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; FRANKFURT:1XQ; ‘ BRW ‘ or the ‘ Company ‘) is pleased to announce its plans for the 2025 summer exploration program in Greenland as well as a mineral license expansion of the Paamiut project.

Mr. Killian Charles, President and CEO of BRW, commented: ‘Following strong metallurgical results and the start of drilling at the Mirage Project in Quebec, we are delighted to announce assay results from the Ivisaartoq discovery near Nuuk, the capital of Greenland. The assays confirm the presence of spodumene throughout the discovery dyke and demonstrates that it is part of an evolved trend which will require significant additional work to fully realize its potential. This highly prospective trend remains underexplored with dozens of pegmatites yet to be visited.

We are also very pleased and thankful for the Greenlandic Government’s efforts in locating the original document that identifies the location of an unconfirmed historical spodumene showing, first identified in 1972 and wholly located within our Paamiut Project. In light of this new showing, we have significantly increased our licenses in the Paamiut region.

Brunswick Exploration is now one of the largest mineral license holders in Greenland and is the only company exploring for lithium, leveraging its first mover advantage in the country. With a strong mining regime alongside prospective geology and excellent outcrop exposure, we believe 2025 will be a key year for lithium in Greenland as we launch one of the largest regional exploration initiatives in the country.’

2025 Greenland Summer Program

BRW will launch an aggressive regional-scale prospecting and mapping initiative on its extensive Greenland portfolio beginning in mid-June, using 4 crews and 2 helicopters for six weeks. In June, one team will focus on detailed mapping and sampling around the Ivisaartoq discovery and surrounding areas while the other will focus on the expanded Nuuk and Paamiut licenses. Starting in July, one team will focus on follow-up prosecting at the Nuuk and Paamiut projects based on results from June while the other team will focus on the recently acquired Disko Bay and Uummannaq projects (see news release of November 7, 2024). Results from the first six weeks will be used to plan advanced exploration programs in August and September 2025, across the entire portfolio.

Ivisaartoq Discovery Results

The company has received grab sample assays from its discovery dyke producing up to 2.40 % Li 2 O (Figure 1). The lithium-bearing dyke is within an evolved trend measuring roughly 3 kilometers by 1.5 kilometers and remains open in all directions with low Mg/Li and K/Rb ratios. To reiterate, the 2024 first pass prospecting focused on rapidly producing portable XRF K/Rb analysis on potassium feldspar crystals while the 2025 second pass will focus on detailed mapping and further sampling in the anomalous area. As these pegmatites are kilometric in scale, they will require systematic sampling and detailed mapping.

For whole rock analysis, the Mg/Li ratio is much more indicative of a favorable Li bearing outcrop or trend than field-generated feldspar K/Rb ratios. Mg/Li ratios in whole rock samples of

Figure 1: Ivissartoq Discovery Area – Lab Results

Ivissartoq Discovery Area - Lab Results

Historical Paamiut Lithium Reference Uncovered

As referenced in the press release dated October 30 th , 2024, a 10-kilometer greenstone belt hosted an unconfirmed and geographically uncertain historical database spodumene showing with a reported assay of 1.23% Li 2 O from the early 1970s. After numerous discussions with the Geological Survey of Denmark and Greenland (GEUS), an accurate location for the showing was ascertained to be roughly 4 kilometers from the previous incorrect location in the database. The area contains several dozen pegmatites which have been never been prospected. During the 2024 first pass, the Company sampled an evolved pegmatite (based on K/Rb) roughly 1 kilometer from the revised location of the historical lithium assay (Figure 2). The company is eager to visit this area in 2025 and has expanded its Paamiut land holdings accordingly.

Figure 2: Paamiut pXRF Data and Historical Lithium Showing

Paamiut pXRF Data and Historical Lithium Showing

Paamiut Staking

The new licenses are located roughly 90 to 130 km from the coastal town of Paamiut, which is approximately 260 km south of the capital Nuuk (Figure 3). Paamiut is home to roughly 1,300 people. The new license area lies within the North Atlantic Craton specifically within the Bjornesund tectonic block. This block is composed of tonalitic and granodioritic orthogneiss as well as favourable Mesoarchean metavolcanic amphibolite belts. The North Atlantic Craton extends westwards into northern Labrador, Canada and eastwards into eastern Greenland.

Multiple metavolcanic amphibolite belts were acquired that are up to roughly 1.5 kilometers in width and 15 kilometers in strike length. The new claims have numerous mapped and interpreted pegmatite targets including nine that are between 500 and 900 meters in strike length for a total new license area of 20,785 hectares. Licences applications have been submitted and are awaiting government final approval.

Figure 3: 2025 Paamiut License Area

2025 Paamiut License Area

Qualified Person

The scientific and technical information related to this press release has been reviewed and approved by Mr. Charles Kodors, Manager, Atlantic Canada. He is a Professional Geologist registered in New Brunswick, Newfoundland and Quebec.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing one of the extensive grassroots lithium property portfolios in Canada and Greenland including the Mirage Project.

Investor Relations/information

Mr. Killian Charles, President and CEO ( info@BRWexplo.com )

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

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. 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 news release.

All figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3d03331a-41f6-4519-b51f-e296544fddc8  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/9e0dadac-f236-423c-bfc4-30200301dfa8  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/306a6938-c621-45c7-8bc8-2e32a3cbf378

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Editor’s Picks: Gold Price Passes US$2,950, Trump Promises Fort Knox Audit

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Another week, another gold price record.

The yellow metal rose to a new high once again on Thursday (February 20), moving past the US$2,950 per ounce level for the first time ever.

It’s becoming increasingly clear that gold is being pushed higher by a strong base of underlying drivers, as well as day-to-day events.

Taking a look at this week’s key news around gold, headlines have centered on a possible audit of Fort Knox, a US Army installation in Kentucky. Fort Knox reportedly holds 147.3 million ounces of gold, but the last-known audit took place in 1953, and in the decades since then questions have been raised about whether it is intact.

The latest audit talk started when tech billionaire Elon Musk responded to a post on X in which a user said it would be ‘great’ to have Musk look into Fort Knox’s gold. Musk responded, ‘Surely it’s reviewed at least every year?’

Musk’s comment prompted a response from Senator Rand Paul (R-Ky.), who has advocated for increased transparency regarding the gold at Fort Knox for years. He signaled support for an audit with his reply, “Nope. Let’s do it.’

The idea has gained traction since then, with President Donald Trump quickly getting behind it — speaking to reporters on Air Force One, he said, ‘If the gold isn’t there, we’re going to be very upset.’

Fort Knox has been a big story for gold this week, but there are plenty of other developments worth tracking. I spoke with Craig Hemke of TFMetalsReport.com about the continued flow of gold from London to New York, and he suggested that the mainstream narrative that tariffs are driving this move could be wrong.

Instead, he believes the US may be preparing to monetize its gold, and could be bringing the precious metal into the country for that reason. He emphasized that there are many unknowns in this situation, but pointed to recent comments from newly appointed Secretary of the Treasury Scott Bessent to support this idea.

‘Within the next 12 months we’re going to monetize the asset side of the US balance sheet for the American people. We’re going to put the assets to work, and I think it’s going to be very exciting’ — US Secretary of the Treasury Scott Bessent

When asked what other under-the-radar issues we may be missing, Craig reminded investors not to forget the importance of central bank gold buying, which remains strong, and physical supply and demand numbers for gold as well as silver.

I’ll leave the link to the full interview with Craig in the video description — definitely check it out if you haven’t already and let me know your thoughts in the comments.

Bullet briefing — Barrick, Mali resolve disupte, Anglo, Codelco to team up

Barrick, Mali set to resolve dispute

Barrick Gold (TSX:ABX,NYSE:ABX) has reportedly signed a US$438 million deal that would end a dispute over its mining assets in Mali.

According to Reuters, the Mark Bristow-led company is now waiting for Mali’s government to issue formal approval. At the time of this recording the approval had not yet come, but it’s possible it will have arrived by the time this video is posted.

The dispute between Barrick and Mali has been ongoing for nearly two years, and in November resulted in the suspension of Barrick’s Loulo-Gounkoto operation.

Anglo, Codelco to team up in Chile

Anglo American (LSE:AAL,OTCQX:AAUKF) and Chilean state-owned miner Codelco have signed a memorandum of understanding to jointly operate their adjacent copper mines in the country, saying it will boost copper output with little additional capital.

Their joint release states that the arrangement will increase production of the red metal by an average of nearly 120,000 metric tons per year. In total, Anglo and Codelco anticipate generating further value of at least US$5 billion before tax.

The companies expect to enter definitive agreements in the second half of 2025.

On a similar note, Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) Chief Executive Jonathan Price said in a post-earnings conference call that his company is open to collaborating with Glencore (LSE:GLEN,OTC Pink:GLCNF) on copper in Chile.

“We do recognize the potential value of some form of tie up between those two operations. And it’s something that we’ve done a good deal of work on to understand the various ways in which that value could be unlocked’ — Jonathan Price, Teck Resources

Glencore made a bid for Teck in 2023, but ultimately only acquired the company’s coal business.

Price said he sees ‘potential value’ in a tie up between Teck’s QB2 mine and Glencore’s Collahuasi mine, but couldn’t share further details on plans.

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

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Tech 5: Intel Faces M&A Rumors, Apple Debuts New iPhone

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This week brought major moves in the tech space, including a new product release from Apple (NASDAQ:AAPL) and reports of a potential shakeup for Intel’s (NASDAQ:INTC) businesses.

Meanwhile, big things are brewing for two former OpenAI members, and Microsoft (NASDAQ:MSFT) has made a quantum leap. Plus, following a remarkable period of growth, Palantir (NASDAQ:PLTR) experienced an unexpected shift.

Read on to learn more about what happened during a busy week in the tech sector.

1. Apple debuts new iPhone 16e with advanced features

Apple rolled out a new device to the iPhone 16 lineup on Wednesday (February 19), expanding its offerings with a budget-friendly option that doesn’t compromise on advanced functionality.

The more affordable iPhone 16e comes equipped with an advanced 2-in-1 camera system, Apple’s A18 chip — replacing the A17 chip found in iPhone 15 models — to enable Apple Intelligence. It also comes with the company’s new C1 modem, the first cellular modem designed entirely in-house, replacing Qualcomm’s (NASDAQ:QCOM) Snapdragon X70.

This move towards in-house components is expected to continue, with Apple analyst Ming-Chi Kuo predicting the company will also replace Broadcom’s (NASDAQ:AVGO) Wi-Fi chips with its own, starting with the iPhone 17 series.

According to Cult of Mac, an online publication that focuses on Apple news and product reviews, the C1 modem “integrates 4G, 5G, satellite and GPS radios in one chip”, representing a “brand-new direction for Apple silicon, alongside the company’s processors and other wireless chips.”

The modem helps enable the phone’s satellite features, which allow for emergency communication and location tracking even when outside cellular and Wi-Fi coverage. It also helps extend the phone’s battery life.

Pre-orders began on Friday (February 21) and the phones will be available for purchase next week.

Later, Apple wrapped up the week by announcing on Friday that it would include Apple Intelligence in visionsOS 2.4, the immersive Apple Vision Pro platform. The update will enable tools such as text composition from ChatGPT and an Image Playground where users can create new images using AI. The changes are set to take place for English users in April, with features for additional languages rolling out gradually throughout the year.

Meanwhile, Bloomberg sources recently revealedthat the company has run into engineering problems and bugs that may delay the release of Apple’s promised overhaul of its digital assistant Siri, which was slated for April.

Sources claim that the update could now come in May or later.

The company also faces intensifying rivalry with Meta Platforms (NASDAQ:META), particularly in the emerging field of humanoid robots, as detailed in this piece from Bloomberg’s Mark Gurman.

2. Intel surges on acquisition rumors, then dips

Shares of Intel opened over 10 percent higher on Tuesday (February 18) after the Wall Street Journal reported over the weekend that rival chipmakers Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE:TSMC) and Broadcom were both in talks to acquire different divisions of the company. According to the report, Broadcom is seeking Intel’s chip-design business, while TSMC is looking to acquire its chip-manufacturing unit.

Separately, Bloomberg reported on Monday (February 17) that Silver Lake Management was in talks to acquire a majority stake in Intel’s programmable chips unit, Altera, continuing the upward momentum.

The stock reached US$27.39 by the closing bell on Tuesday, nearly 14 percent higher than the closing price the previous Friday.

However, the majority of the company’s gains were promptly reversed on Wednesday after analysts voiced concerns over Intels’ potential break up and possible barriers to acquisition, such as different manufacturing processes. Regulatory scrutiny was also cited as a potential obstacle to any deal between Intel and TSMC.

And the Trump administration ‘could be wary of a foreign entity completely taking over an iconic US-firm,’ Bank of America analyst Vivek Arya wrote in a note to investors Tuesday, despite reports suggesting that the Taiwanese firm was considering the deal at the request of the Trump administration.

3. Ilya Sutskever’s SSI secures major investment

On Monday, Bloomberg disclosed a US$1 billion deal for OpenAI co-founder Ilya Sutskever’s start-up, Safe Superintelligence (SSI). Sutskever was formerly a chief scientist at OpenAI before leaving the company in May 2024.

Sutskever was a central figure in an attempt to remove OpenAI CEO Sam Altman from the company in November 2023; however, just days later Sutskever signed a letter demanding Altman’s return and said he regretted his participation.

He started SSI in June 2024, shortly after leaving OpenAI. The company focuses on building advanced artificial intelligence technology with safety features and has attracted significant interest from investors including Sequoia Capital, Andreessen Horowitz and DST Global, despite not yet generating revenue.

The latest funding round is led by venture capitalists at San Francisco-based firm Greenoaks Capital Partners, who have committed US$500 million, according to the report. Sources say the company is in talks to raise more than US$1 billion, potentially valuing the company at US$30 billion.

While Reuters provided details of the deal earlier in February, sources had previously valued the company at US$20 billion, a significant increase from its US$5 billion valuation following a funding round in September 2024.

Also this week, Mira Murati, another former OpenAI employee who previously served as the company’s chief technology officer, announced the name of her new venture, Thinking Machines Labs, via a blog post on Tuesday. Murati resigned from OpenAI in September 2024 after the company agreed to change its corporate structure, handing control to its for-profit arm as a stipulation of a US$6.6 billion funding round.

4. Palantir faces dual challenges

Shares of software company Palantir plunged by over 21 percent this week after Benzinga and other media outlets reported a regulatory disclosure on Wednesday, revealing CEO Alex Karp’s plan to sell nearly 10 million shares.

Later on Wednesday, the Pentagon announced it would cut roughly US$50 billion from its budget after it was ordered to reduce spending by 8 percent every year for the next five years last Friday by Defense Secretary Pete Hegseth. Cuts are likely to affect staffing as well as some weapons programs, according to NPR.

However, certain areas, such as border defense and spending on drones and submarines, will likely be exempt from the cuts or even receive increased funding.

“President Trump’s charge to the Department of Defense is clear: to achieve peace through strength,” wrote Robert G. Salesses, a senior Pentagon official, in a press release. “We will do this by putting forward budgets that revive the warrior ethos, rebuild our military, and reestablish deterrence.”

Palantir is a well-established defense contractor that works extensively with the US military. In December 2024, the company secured a US$401 million follow-on contract with the US Army to continue its work on the Vantage platform, an AI-powered data analysis tool used to improve decision-making and readiness. Its stock has seen remarkable growth, increasing by nearly 350 percent compared to its value a year ago.

5. Microsoft unveils new quantum chip

On Wednesday Microsoft unveiled its newest innovation, a quantum computing chip that the company claims can solve meaningful, industrial-scale problems in years, not decades.

Named Majorana 1, this chip stands apart from other quantum computing approaches due to its unique particles, which offer increased resilience against errors. Many qubits are incredibly sensitive to their environment, and tiny disturbances can cause them to lose their quantum information, resulting in computing errors.

Majorana 1 tackles this challenge with its unique architecture, where quantum information is distributed and protected, making it less susceptible to environmental disturbances and resulting in greater stability.

Microsoft refers to Majorana’s architecture as “topological,” which basically means the quantum information is encoded robustly, tied to the overall state of the system rather than individual parts.

This protection comes from the unique nature of the particles themselves: they’re Majorana particles, which are their own antiparticles—a very unusual property that contributes to their stability.

However, some researchers have cast doubt on whether Microsoft’s chips are capable of such stability.

Steven Simon, a theoretical physicist at the University of Oxford, UK, who was results at its research center in Santa Barbara, told Nature: “Would I bet my life that they’re seeing what they think they’re seeing? No, but it looks pretty good.”

He also said that there was no way to know from the experiment whether Microsoft had created qubits made of topological states. Notably, Microsoft previously claimed it had accomplished Majorana states in 2018, but later retracted its assertion in 2021 after further testing.

Still, Microsoft shares saw a boost after the press release, closing up 1.5 percent higher on Wednesday afternoon.

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

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