Markets and commodities react

In Canada, major indexes were mixed at the end of the week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) climbed 0.93 percent during the week to close at 26,429.13 on Friday. The S&P/TSX Venture Composite Index (INDEXTSI:JX) had a larger gain of 3.06 percent to 721.60 and the CSE Composite Index (CSE:CSECOMP) rose 1.7 percent to 117.55.

US equities were in positive territory this week, with the S&P 500 (INDEXSP:INX) gaining 1.76 percent to close at 6,000.37, the Nasdaq-100 (INDEXNASDAQ:NDX) rising 2.31 percent to 21,761.79 and the Dow Jones Industrial Average (INDEXDJX:.DJI) adding 1.33 percent to 42,762.88.

The gold price was up this week, gaining 1.02 percent, to close Friday at US$3,322.73. The silver price saw more significant gains, surging 8.92 percent during the period to US$35.91, their highest since 2012.

In base metals, the COMEX copper price rose 4.78 percent over the week to US$4.86 per pound. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) posted a gain of 3.87 percent to close at 545.00.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Africa Energy (TSXV:AFE)

Weekly gain: 275 percent
Market cap: C$71.87
Share price: C$0.15

Africa Energy is a South Africa-focused oil and gas exploration and development company.

Its flagship asset is Block 11B/12B located approximately 175 kilometers off the south coast of South Africa. The block covers an area of 18,734 square kilometers and depths between 200 meters and 1,800 meters.

Africa Energy previously held a 4.9 percent stake in the project through its 49/51 joint venture with Arostyle Investments named Main Street 1549, which owned 10 percent of the asset. The remaining partners were project operator TotalEnergies (NYSE:TTE) at 45 percent, Qatar Petroleum at 25 percent and CNR International (TSX:CNQ,NYSE:CNQ) at 20 percent.

Main Street 1549’s three partners announced plans to withdraw from the Block 11B/12B joint venture in July 2024, and discussions on restructuring the ownership had been underway since.

Shares in Africa Energy began surging May 29 after Africa Energy announced a definitive agreement for the new ownership structure of the Block 11B/12B asset.

Under the terms of the definitive agreement between Africa Energy and Arostyle Investments, Africa Energy will increase its ownership of Main Street from a 49 percent to 100 percent stake. Additionally, the withdrawing parties assigned 65 percent of their participating interest in Block 11B/12B to Main Street and 25 percent to Arostyle.

The result will see Africa Energy increase its stake in the asset from 4.9 percent to 75 percent.

2. Allegiant Gold (TSXV:AUAU)

Weekly gain: 95 percent
Market cap: C$17.24
Share price: C$0.39

Allegiant Gold is a gold exploration company working to advance several projects in Nevada, United States.

Its flagship project is Eastside, located in Esmeralda County, consists of 973 unpatented lode mining claims covering 8,289 hectares. Nearly 70,000 meters of drilling has been carried out at the property since 2011.

A July 2021 mineral resource estimate showed inferred quantities at the site of 1.09 million ounces of gold with an average grade of 0.55 g/t and 8.7 million ounces of silver with an average grade of 4.4 g/t from 61.73 million tons of ore.

The most recent news from the company was announced on May 29, when it stated that its previously announced one-for-two share consolidation would take effect on Monday, June 2.

3. LaFleur Minerals (CSE:LFLR)

Weekly gain: 89.66 percent
Market cap: C$37.46
Share price: C$0.275

LaFleur Minerals is an exploration and development company working to advance a pair of projects in Quebec, Canada.

Its Swanson Gold project consists of a 15,290 hectare land package in the southern portion of Quebec’s Abitibi gold belt. Historic drilling at the site has uncovered 958 holes, revealing broad mineralization with widths of up to 40 meters. Additionally, the site has also had underground workings to a vertical depth of 80 meters to carry out bulk sampling.

A September 2024 mineral resource estimate suggested total indicated resources of 123,400 ounces of gold from 2.11 million metric tons of ore with an average grade of 1.8 grams per metric ton (g/t) along with additional inferred quantities of 64,500 g/t from 872,000 metric tons with an average grade of 2.3 g/t.

The company’s other property, the Beacon Mill and Mine, is a past-producing mine, also located in the Abitibi gold belt. LaFleur acquired the mine in September 2024 as part of a receivership sale. Monarch Mining previously owned the mine, which has been on care and maintenance since 2022.

Most recently, the mine underwent a C$20 million refurbishment in 2022 and is capable of processing 750 metric tons of ore per day.

Shares in LaFleur gained this week after it announced updates for both properties on Wednesday.

At Swanson, it stated that it was planning a 5,000-meter drilling program, set to begin in June, with more than 50 targets having been identified. Additionally, the company announced that it is targeting early 2026 for the restart.

4. Eastern Platinum (TSX:ELR)

Weekly gain: 84.85 percent
Market cap: C$37.46
Share price: C$0.305

Eastern Platinum, also known as Eastplats, is a platinum group metal (PGM) and chrome mining, development and exploration company working to advance assets in South Africa.

Its most advanced asset is the Crocodile River mine, located northwest of Johannesburg. The mine began operating in 1987, but production was suspended in the early 1990s due to falling PGM prices. Since then, the mine saw some limited production in the early 2000s before once again being suspended.

After significant rehabilitation, chrome and PGM production from site tailings was restarted at the site in 2018 and 2020 respectively, and underground operations at the Zandfontein mine restarted in October 2023. In October of last year, Eastplats began commissioning a PGM processing plant that will process ore from Zandfontein.

A technical report from May 2022 demonstrated a proven and probable resource of 1.72 million ounces of platinum, palladium, rhodium and gold, with an average grade of 3.68 g/t from 14.58 million metric tons of ore.

Although the company did not release news this week, shares in Eastplats gained alongside a surging platinum price.

5. TNR Gold (TSXV:TNR)

Weekly gain: 58.33 percent
Market cap: C$15.06
Share price: C$0.095

TNR Gold is an exploration and royalty company with a focus on the acquisition of green energy and gold assets.

The company owns the Shotgun Gold project in Alaska’s Kuskokwim Gold Belt. The property consists of 108 claims covering an area of 6,993 hectares. A 2013 technical report showed inferred quantities of 705,960 ounces of gold from 20.73 million metric tons of gold with an average grade of 1.06 g/t with a cutoff of 0.5 g/t.

Its royalty investments include a 1.5 percent net smelter royalty from Ganfeng Lithium’s (OTC Pink:GNENF) Marina Lithium project in Argentina. It also holds a 0.4 percent net smelter royalty in McEwen Mining’s (NYSE:MUX,TSX:MUX) Los Azules Copper, Gold and Silver Project, also in Argentina.

The latest news from TNR came on May 14 when it released a corporate update. In the release the company highlighted its success from the royalty portion of its business, and provided updates from its key investments.

It also said it was looking to attract a partnership with a major gold mining company to help advance its Alaskan Shotgun project.

FAQs for Canadian mining stocks

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$104,245 as markets closed for the week, up 2 percent in 24 hours. The day’s range for the cryptocurrency brought a low of US$104,006 and a high of US$105,201.

Bitcoin price performance, June 6, 2025.

Chart via TradingView.

After dipping below US$101,000 during the dispute between US President Donald Trump and Elon Musk, Bitcoin recovered to around US$105,000 early in the trading day, influenced by a strong US labor report.

Despite the rebound, analysts are wary due to technical indicators like a weakening relative strength index, suggesting potential downside. A possible rate cut from the US Federal Reserve on June 18 could push Bitcoin to US$112,000, but the outlook is uncertain. Order book data indicates a liquidity trap, and limited short interest points to a fragile recovery.

Additional selling pressure and investor distrust are contributing to shaky market sentiment.

Ethereum (ETH) finished the trading day at US$2,490.63, a 2 percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$2,482.52 and saw a daily high of US$2,519.25.

Altcoin price update

• Solana (SOL) closed at US$149.26, trading flat over 24 hours. SOL experienced a low of US$148.86 and reached a high of US$151.79 on Friday.

• XRP is trading at US$2.17, reflecting a 1.6 percent increase over 24 hours. The cryptocurrency reached a daily low of US$2.16 and a high of US$2.18.

• Sui (SUI) peaked at US$3.18, showing an increaseof 5.7 percent over the past 24 hours. Its lowest valuation on Friday was US$3.16, and its highest was US$3.19.

• Cardano (ADA) is trading at US$0.663, up 2.8 percent over the past 24 hours. Its lowest price of the day was US$0.6604, and it reached a high of US$0.6693.

Today’s crypto news to know

Uber considers stablecoins for cost reduction

On stage at the San Francisco-based Bloomberg Tech Summit on Thursday (June 5), Uber Technologies (NYSE:UBER) CEO Dara Khosrowshahi said the company is “definitely going to take a look” at using stablecoins to help reduce the cost of moving money around the world.

“We’re still in the study phase, I’d say, but stablecoin is one of the, for me, more interesting instantiations of crypto that has a practical benefit other than crypto as a store of value,” he said. “Obviously, you can have your opinions on Bitcoin, but it’s a proven commodity, and you know, people have different opinions on where it’s going,” he added.

UK set to lift ban on retail access to crypto ETNs

The UK’s Financial Conduct Authority (FCA) has announced plans to lift its ban on retail investors buying crypto exchange-traded notes (ETNs), a major shift from its earlier risk-averse stance.

Initially barred due to concerns over volatility and investor protection, the FCA now says consumers should have the right to choose whether these high-risk assets fit their portfolios. David Geale, the FCA’s digital assets chief, said the move is part of a broader push to ‘rebalance’ the regulator’s approach to financial risk. The proposal, which would allow ETNs to be sold on FCA-registered investment exchanges, will now enter a public consultation phase.

This regulatory pivot follows the UK’s introduction of draft laws in April aimed at integrating crypto into the formal financial system. The FCA emphasized that its separate ban on crypto derivatives for retail traders will remain in place.

Switzerland adopts crypto information exchange bill

The government of Switzerland has adopted a bill to enable the automatic exchange of information (AEOI) on crypto with 74 partner countries, including the UK, all EU member states and most G20 countries.

The measure excludes the US, Saudi Arabia and China. The bill is currently under discussion in parliament and, if approved, the AEOI framework for crypto assets will take effect on Jan. 1, 2026.

Switzerland will only engage in AEOI with partner states that also desire information exchange with Switzerland.

Strategy to raise nearly US$1 billion to buy more Bitcoin

Strategy (NASDAQ:MSTR), the company known for its aggressive Bitcoin acquisition strategy, is launching a nearly US$1 billion capital raise through its new 10 percent Series A STRD preferred stock. The offering includes over 11 million shares and promises a high fixed yield, making it attractive to yield-hungry investors in a low-rate environment.

Unlike other Strategy offerings like STRK (convertible) and STRF (senior status), STRD offers the highest payout at 10 percent, but comes with more risk due to its non-cumulative dividend and junior status. Dividends are only issued when declared, and the shares cannot be called under normal market conditions.

Proceeds will go toward “general corporate purposes,” which notably include expanding its Bitcoin holdings.

Metaplanet plans US$5.3 billion warrant offering to scale Bitcoin treasury

Tokyo-based Metaplanet (OTCQX:MTPLF,TSE:3350) is taking its Bitcoin commitment to the next level with a massive US$5.3 billion stock warrant issuance, the largest of its kind in Japan.

The company is offering 555 million shares through stock acquisition rights, using a novel moving-strike pricing model that adjusts with market value — a first in the Japanese market.

This 555 Million Plan follows an earlier US$600 million raise and is part of Metaplanet’s goal to hold over 210,000 BTC by 2027, approximately 1 percent of total Bitcoin supply.

The vast majority of the proceeds — around 96 percent — will go toward direct Bitcoin purchases, while a small fraction will support debt management and derivative strategies like selling puts.

Maple Finance expands syrupUSD to Solana

Lending platform Maple Finance announced on Thursday that it has expanded user access by deploying its syrupUSD yield-bearing stablecoin to Solana-based platforms Kamino and Orca.

Previously, it had only been available on the Ethereum blockchain.

According to the announcement, Solana integration is launching with US$30 million in liquidity, which will establish “a deep and stable foundation for lending, trading, and collateral provisioning.’

This new system was made possible by using Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which started operating on the Solana main network on May 19. CCIP lets different blockchain systems, specifically those using Ethereum Virtual Machine and Solana Virtual Machine technology, share information.

The ability to transfer data between these distinct blockchain environments is expected to significantly boost efficient and affordable growth within the digital ecosystem.

The healthcare status quo is cracking

As mentioned, panelists noted that while technology has transformed nearly every sector of modern life, healthcare still largely operates on practices that have seen little change for decades.

“The moment of physician-to-patient interaction, the physical examination, literally has hardly changed in the past 200 years,” said moderator Ohad Arazi, setting the stage for a talk about what healthcare could look like in 2030.

“Of course, many things in healthcare have changed, but it’s been a very slow slog. And yet we see that the pace of change, the pace of adoption of innovation on both therapeutics and diagnostics, is accelerating.”

Lu Zhang, founder of Fusion Fund, highlighted that healthcare is now entering its “prime time for innovation,” emphasizing that the core goal for the future is to ‘improve the quality of life, to really enable the future of healthcare to be personalized … and also be able to do super early diagnostics and reduce the healthcare burden in the long term.’

AI as a catalyst for regenerative and personalized medicine

Zhang pointed to advances in AI-powered digital diagnostics for conditions like cancer, heart disease and mental health, citing the recent launch of the Arc Institute’s Evo 2 AI model, designed to understand and generate genetic code.

Arc researchers recently published a preprint showing that their gene-editing technology can implement broad alterations to the human genome, something not achievable with other gene-editing techniques.

She also mentioned the promise of new digital therapeutics and regenerative medicine, noting a recent exhibition where researchers showcased 3 centimeters of beating heart tissue created from iPS cells.

These kinds of innovations could transform how practitioners approach health and wellness. Eric Hoskins, partner at Maverix Private Equity, offered a more cautious but ultimately optimistic perspective, identifying AI-guided personalized medicine as one of the “fast movers” poised to bring an abrupt and immediate change to healthcare.

However, the consensus was that challenges remain, particularly when it comes to navigating the regulatory landscape and addressing persistent data isolation issues within healthcare.

Dr. Victoria Lee, a physician and prominent leader in Canadian healthcare who previously served as president and CEO of the Fraser Health Authority, called for a decisive shift from a reactive “sickness care” model to a more proactive, AI-augmented model focused on prevention, personalization and long-term wellbeing.

She asserted that healthcare’s massive data output (30 percent of global data) is an underutilized resource.

Zhang agreed, adding that less than 5 percent of that data is currently being used. This is primarily due to privacy compliance concerns, which could also be mitigated by the use of AI.

Coupled with a global healthcare worker shortage, Lee presented AI as the crucial enabler for this transformation, arguing that it is indispensable for improving both the efficiency of healthcare operations and the effectiveness of medical professionals in an era of exploding medical knowledge. Her most compelling vision is the implementation of precision wellbeing through digital twins and AI agents.

Cancer care as a testbed for change

AI is already being used to personalize cancer treatment and reduce travel barriers via distributed platforms. A separate panel featuring James Lumsdaine, CEO of healthtech company Avitia, showcased the company’s AI-powered molecular diagnostics platform, which supports distributed cancer testing through simple blood draws. The technology has already been deployed in seven countries and has processed over 40,000 tests.

The platform, validated in Canada, the Middle East and Southeast Asia, reduces treatment times from weeks to days, improving patient outcomes and quality of life. Avitia’s initiative aims to make cancer a manageable chronic condition, advocating for better access to precision care and advanced diagnostics at or near the patient’s point of care.

“The ability of a patient to get personalized care for their cancer is now no longer limited by their ability to travel and where they’re based,” Lumsdaine explained, laying out his vision for the company’s role in therapeutic innovation.

Opportunity, strategy and real-world fit

As transformative as AI-driven healthcare could be, scaling breakthroughs requires investment and infrastructure alongside regulatory evolution. During opening remarks at Web Summit, AI researcher and author Gary Marcus said biology is a natural fit for AI, especially in protein interaction modeling and drug development.

At the ‘Smart Money in 2025’ panel, Wesley Chan of FPV Ventures also pointed to the life science space as a sector where AI has the clearest potential to deliver real-world productivity gains.

He argued that the convergence of biology and AI represents a generational opportunity for investors, citing companies like Strand Therapeutics, which used AI to develop a new mRNA cancer therapy.

Tom Beigala, founding partner at Bison Ventures, told journalist Anne Gaviola, moderator at the “The Healthtech Investment Checkup” panel, that he believes AI and next-generation computational technologies are driving innovation across the entire healthcare system, from making drug discovery easier and more cost effective, to optimizing data utilization and significantly increasing labor and clinical productivity.

Bison invests in early stage frontier tech companies, and its portfolio spans AI-enhanced drug discovery, advanced life science tools for pre-clinical testing and synthetic biology applications addressing broader public health challenges.

Outside AI, Beigala revealed his interest in the field of non-invasive cancer surgery using focused ultrasound technology. This burgeoning field uses technology that is often enhanced by AI for precision targeting. He pointed to an unnamed company rumored to be in acquisition discussions for a multibillion-dollar valuation.

For her part, Zhang highlighted Fusion Fund’s focus on AI-powered healthcare solutions that enhance workflow efficiency. She also pointed to physical AI, particularly surgical robots, as a promising area within healthcare, noting its potential to enable more non-invasive and micro-invasive surgical approaches.

But while the opportunity landscape is expanding, panelists emphasized that deploying these innovations successfully requires a clear-eyed understanding of the healthcare system’s structural complexity.

Beigala underscored that successful AI applications in healthtech require a deep understanding of the healthcare system’s existing incentives and workflows, including how doctors bill and how insurance companies operate.

He also cautioned that AI, as merely a tool, must be strategically integrated to avoid unintended consequences and to ensure that it genuinely fits within established practices.

Beyond those challenges, Zhang touched upon external regulatory hurdles, citing the US Food and Drug Administration’s current processes as a significant hurdle for innovation and market entry. However, she expressed optimism that the agency’s exploration of AI could eventually accelerate and streamline the approval process.

Bridging the imagination gap

The promise of AI to revolutionize healthcare is undeniable, but it’s solely a matter of technological development.

The conversations at Web Summit were a reminder that the future of healthcare also requires collaboration, trust and data governance. Together, these elements can pave the way for a healthcare landscape profoundly reshaped by AI.

AI reshaping the investment landscape

Despite challenges in public and private markets, experts across multiple panels agreed that AI is fueling the rapid development of new markets, influencing capital allocation and funding trends.

Speakers on a panel focused on the current state of venture capital (VC) highlighted AI’s potential to revolutionize the VC landscape, with Freestyle Capital general partner Maria Palma asserting that AI technology has revitalized the industry by creating new opportunities and altering market dynamics.

She argued that VCs are inherently optimistic, but must adapt to longer fund cycles and prioritize top talent migrating to startups, while also considering AI’s influence on liquidity and the speed of company building and scaling.

Palma pointed to development platform Lovable, which brought in US$50 million in revenue in five months.

“You didn’t see that 10 years ago in any company … I think that the pace of ability to build and ability to attack different markets is different than it’s ever been,” she told the Web Summit audience.

In another panel, Brett Gibson, managing partner at Initialized Capital, pointed to a broader shift toward authoring software and the potential for widespread fragmentation and consolidation in the software market. 500 Global CEO Christine Tsai discussed the volatility of emerging tech stacks, while Andy McLaughlin, managing partner at Uncork Capital, stressed the importance of spotting opportunities outside mega platforms.

The consensus was that AI is fueling new business models, pushing investors to rethink how value is defined.

AI transforming how businesses operate

During the ‘Smart Money in 2025’presentation, speakers Alfred Chuang of Race Capital and Wesley Chan of FPV Ventures emphasized that investors now see AI as the foundation of new hyper-focused platforms.

The industry-specific approach of legal tech unicorn Clio was showcased at the ‘Vertical Software is Eating the World’ discussion, andhighlighted the growing interest in AI-powered vertical SaaS business models.

“There is a huge amount of opportunity that remains, and a disruptive opportunity to unseat the incumbents in software verticals today with AI native companies, and also an opportunity for incumbents in the space to embrace AI and tap into what is an exponential opportunity for AI,” Clio CEO Jack Newton told the audience.

Chuang elaborated on the transformative role of AI in the software industry. “I think SaaS has a huge opportunity for basically a re-up for all the different applications. We’re going to see a whole new wave of apps. Now we can automate the process, and a process can write code to automate another process … these are opportunities we have never seen before. It’s a very exciting time. We’re going to be hugely more productive going forward.”

Chan stressed to the audience that AI utility matters more than AI branding, echoing Marcus’ earlier sentiment on its potential to increase productivity for life science companies. He cited recently announced results for Strand Therapeutics’ mRNA cancer drug, which was developed with the help of AI.

Uncork Capital’s McLoughlin pointed to Toronto-based software company Tailscaleas an example of a firm that is enabling core functionality for AI at scale without branding itself around AI.

“They build virtual private networks that have become fundamentally important to the AI economy. Every single (AI) hyperscaler is using Tailscale to network together this kind of global cluster of GPUs,’ he said.

‘We didn’t think about that when we first invested in 2019. We liked the idea of connected devices and people, but we never thought of a future where actually this would be a killer use case.”

Discussions also honed in on generative AI’s uses in areas like customer service co-pilots and sales automation, and how AI agents are developing into more proactive partners, freeing human teams to focus on strategy. However, as AI agents begin to reason, act and potentially make decisions that carry real-world consequences, the conversation consistently circled back to the importance of accountability, privacy protection and regulation.

While agentic AI may not yet be mainstream, it’s quickly becoming a frontier for productivity, ethics and innovation.

Trade tensions recalibrating tech alliances

Speakers on the ‘All in on AI’panelalso discussedthe potential for emerging markets to provide liquidity and foreign buyers, noting the increasing importance of non-US markets in the context of regulatory changes.

“One thing that’s really quite unprecedented about this wave versus other waves is just how much of a national agenda (AI) is for so many countries around the world,” said 500 Global’s Tsai, noting that Silicon Valley still has its place among the great global founders. Palma shared that sentiment during ‘The State of Venture Capital’ talk, adding that the bigger problem is not the listing exchange, but whether entrepreneurs still desire to go public at all.

The rise of non-US markets and a more globally dispersed talent pool are occurring against a backdrop of evolving international trade relations and policies. Several panels focused on the US-China relationship while addressing how tariffs are shaping the global tech economy, from talent acquisition to material sourcing.

Economist William Lazonick called out the inefficacy of the current tariff strategy in terms of encouraging innovation, highlighting Big Tech’s underinvestment in research and development and prioritization of share buybacks.

Separately, Bison Ventures founding partner Tom Biegala noted the shift toward onshoring and AI-enabled robotics in manufacturing to enhance productivity and reduce labor costs. He also touched on opportunities in the defense tech sector, driven by the need for critical components to be US- or western-made for national security reasons.

“I think that has certainly been accelerated in today’s environment, and it’s bleeding over into a whole bunch of more traditional industries, from 3D printing to manufacturing of what are typically commodity components,” he said.

While much of the discussion focused on US policy, another takeaway was Canada’s potential to thrive in a changing trade landscape, with several noteworthy announcements taking place throughout the week.

One came at a Bell press conference, where the telecommunications company unveiled Bell AI Fabric, an initiative to build a network of data centers across the country, with Kamloops as its first hub. Later, Diana Gibson, BC’s minister of jobs, economic development and innovation, announced the expansion of the Integrated Marketplace Program with an additional C$30 million in funding, supporting over 30 startups across the province.

While the province supports its tech sector, challenges like high costs and regulations remain. Gibson and Rocky Tung, director and head of policy research at Hong Kong’s Financial Services Development Council, addressed BC’s need for stronger ties, particularly in finance, VC and web3. Even so, Canada’s stability and innovation ecosystem could be attractive to investors seeking a haven and fertile ground for growth amid international volatility.

Investor takeaway

Web Summit served as a vital forum for exploring the multifaceted impact of AI on the tech industry and beyond, highlighting its role as both a disruptive force and a catalyst for innovation.

As AI continues to reshape industries and markets, the insights shared at the Vancouver-based Web Summit provide a valuable roadmap for navigating the future of technology and investment.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$104,656, as markets opened, up 0.2 percent in 24 hours. The day’s range for the cryptocurrency brought a low of US$100,783 and a high of US$104,737.

Bitcoin price performance, June 6, 2025

Chart via TradingView

Ethereum (ETH) finished the trading day at US$2,606.52, a 2.8 percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$2,408.52 and saw a daily high of US$2,596.13.

Altcoin price update

• Solana (SOL) closed at US$152.16, up 1.0 percent over 24 hours. SOL experienced a low of US$142.38 in the final minutes of trading and reached a high of US$151.79.

• XRP is trading at US$2.19, reflecting a 0.7 percent decrease over 24 hours. The cryptocurrency reached a daily low of US$2.08 and a high of US$2.20.

• Sui (SUI) peaked at US$3.15, showing an increaseof 1.5 percent over the past 24 hours. Its lowest valuation on Wednesday was US$2.91, and its highest was US$3.19.

• Cardano (ADA) is trading at US$0.6779, down 1.3 percent over the past 24 hours. Its lowest price of the day was US$0.6233, and it reached a high of US$0.6762.

Today’s crypto news to know

Strategy to raise nearly US$1 billion via stock offering to buy more Bitcoin

Strategy (NASDAQ:MSTR), the company known for its aggressive bitcoin acquisition strategy, is launching a nearly US$1 billion capital raise through its new 10 percent Series A STRD preferred stock.

The offering includes over 11 million shares and promises a high fixed yield, making it attractive to yield-hungry investors in a low-rate environment.

Unlike other Strategy offerings like STRK (convertible) or STRF (senior status), STRD offers the highest payout at 10 percent but comes with more risk due to its non-cumulative dividend and junior status. Dividends are only issued when declared, and the shares cannot be called under normal market conditions.

According to Strategy, proceeds will go toward “general corporate purposes,” which notably include expanding its bitcoin holdings.

UK set to lift ban on retail access to crypto ETNs

The UK’s Financial Conduct Authority (FCA) has announced plans to lift its ban on retail investors buying crypto exchange-traded notes (ETNs), a major shift from its earlier risk-averse stance.

Initially barred due to concerns over volatility and investor protection, the FCA now says consumers should have the right to choose whether these high-risk assets fit their portfolios.

David Geale, the FCA’s digital assets chief, said the move is part of a broader push to ‘rebalance’ the regulator’s approach to financial risk. The proposal enters a public consultation phase and would allow ETNs to be sold on FCA-registered investment exchanges.

However, the FCA emphasized that its separate ban on crypto derivatives for retail traders will remain in place.

This regulatory pivot follows the UK’s introduction of draft laws in April aimed at integrating crypto into the formal financial system.

Metaplanet plans US$5.3 billion warrant offering to scale Bitcoin treasury

Tokyo-based Metaplanet is taking its Bitcoin commitment to the next level with a massive US$5.3 billion stock warrant issuance, the largest of its kind in Japan.

The company is offering 555 million shares through stock acquisition rights, using a novel moving-strike pricing model that adjusts with market value—a first in the Japanese market.

This “555 Million Plan” follows an earlier US$600 million raise and is part of Metaplanet’s goal to hold over 210,000 BTC by 2027, approximately 1 percent of total bitcoin supply.

The vast majority of the proceeds—around 96 percent—will go toward direct BTC purchases, while a small fraction will support debt management and derivative strategies like selling puts.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$104,656, as markets opened, up 0.2 percent in 24 hours. The day’s range for the cryptocurrency brought a low of US$100,783 and a high of US$104,737.

Bitcoin price performance, June 6, 2025

Chart via TradingView

Ethereum (ETH) finished the trading day at US$2,606.52, a 2.8 percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$2,408.52 and saw a daily high of US$2,596.13.

Altcoin price update

• Solana (SOL) closed at US$152.16, up 1.0 percent over 24 hours. SOL experienced a low of US$142.38 in the final minutes of trading and reached a high of US$151.79.

• XRP is trading at US$2.19, reflecting a 0.7 percent decrease over 24 hours. The cryptocurrency reached a daily low of US$2.08 and a high of US$2.20.

• Sui (SUI) peaked at US$3.15, showing an increaseof 1.5 percent over the past 24 hours. Its lowest valuation on Wednesday was US$2.91, and its highest was US$3.19.

• Cardano (ADA) is trading at US$0.6779, down 1.3 percent over the past 24 hours. Its lowest price of the day was US$0.6233, and it reached a high of US$0.6762.

Today’s crypto news to know

Strategy to raise nearly US$1 billion via stock offering to buy more Bitcoin

Strategy (NASDAQ:MSTR), the company known for its aggressive bitcoin acquisition strategy, is launching a nearly US$1 billion capital raise through its new 10 percent Series A STRD preferred stock.

The offering includes over 11 million shares and promises a high fixed yield, making it attractive to yield-hungry investors in a low-rate environment.

Unlike other Strategy offerings like STRK (convertible) or STRF (senior status), STRD offers the highest payout at 10 percent but comes with more risk due to its non-cumulative dividend and junior status. Dividends are only issued when declared, and the shares cannot be called under normal market conditions.

According to Strategy, proceeds will go toward “general corporate purposes,” which notably include expanding its bitcoin holdings.

UK set to lift ban on retail access to crypto ETNs

The UK’s Financial Conduct Authority (FCA) has announced plans to lift its ban on retail investors buying crypto exchange-traded notes (ETNs), a major shift from its earlier risk-averse stance.

Initially barred due to concerns over volatility and investor protection, the FCA now says consumers should have the right to choose whether these high-risk assets fit their portfolios.

David Geale, the FCA’s digital assets chief, said the move is part of a broader push to ‘rebalance’ the regulator’s approach to financial risk. The proposal enters a public consultation phase and would allow ETNs to be sold on FCA-registered investment exchanges.

However, the FCA emphasized that its separate ban on crypto derivatives for retail traders will remain in place.

This regulatory pivot follows the UK’s introduction of draft laws in April aimed at integrating crypto into the formal financial system.

Metaplanet plans US$5.3 billion warrant offering to scale Bitcoin treasury

Tokyo-based Metaplanet is taking its Bitcoin commitment to the next level with a massive US$5.3 billion stock warrant issuance, the largest of its kind in Japan.

The company is offering 555 million shares through stock acquisition rights, using a novel moving-strike pricing model that adjusts with market value—a first in the Japanese market.

This “555 Million Plan” follows an earlier US$600 million raise and is part of Metaplanet’s goal to hold over 210,000 BTC by 2027, approximately 1 percent of total bitcoin supply.

The vast majority of the proceeds—around 96 percent—will go toward direct BTC purchases, while a small fraction will support debt management and derivative strategies like selling puts.