— Resource Investing (@INN_Resource) June 25, 2025

Daswani then went on to set the tone for the conference by posing four key questions about the current market designed to guide attendees’ thinking throughout the event.

1. Decoupling vs. Interdependence: Can the US and China truly decouple their lithium and battery supply chains, or will market realities force continued interdependence?
2. Technology Leadership Race: Who will lead battery innovation?
3. Price Sustainability: How sustainable is the current lithium price environment?
4. Hidden Supply Chain Risks: What proactive steps can the industry take to address emerging risks like permitting delays, power constraints, community opposition, water limitations, talent shortages, and geopolitical instability in critical mining regions?

These questions framed the agenda for the four day event while also underscoring some of the key challenges and strategic considerations facing the global lithium and battery raw materials industry.

Robust growth projections

China’s dominance in the battery metals space was a central theme at the conference and explored via a variety of angels including supply and demand dynamics, growth projections and collaboration.

At the “Lithium Market Outlook 2025–2035: Navigating Demand Across EVs, Storage, and Strategic Sectors” presentation, Paul Lusty, head of battery raw materials at Fastmarkets painted a bullish picture for the future of lithium prices, despite the current challenges the market is facing.

#EV paradox? Paul Lusty of @Fastmarkets explains that EV sales are slower than expected, but still remain robust on a year-on-year basis.#Investing #ElectricVehicles #BatteryMetals pic.twitter.com/a2REfTQz86

— Resource Investing (@INN_Resource) June 25, 2025

We’re facing headwinds, no doubt, and we’re also seeing quite a lot of negative or bearish sentiment widespread in the market, and I think at times, it’s amplified by voices that really overlooked the phenomenal levels of demand that we’re seeing in many aspects of the market,” he said.

Although prices have floundered since 2022, the Fastmarkets team is projecting a 12 percent CAGR through to 2035.

“The long term outcome looks incredibly bullish and very compelling, the fundamentals are really still very strong, and these are anchored in some very powerful, mega trends that we see developing within the global economy.”

These trends include the urgent drive for climate change mitigation, the once in a generational shift in the global energy system, and the rise of energy intensive technologies such as artificial intelligence.

China’s place in western supply

As Daswani noted in his opening remarks China’s role in the battery metal sector was a recurring topic at the conference, with several speakers and panelists weighing in.

In one of the most compelling panels “Decoding the China Playbook’, panelists recounted the country’s nearly two decade long strategy to develop a robust, vertically integrated supply chain.

Iggy Tan, chairman of Lithium Universe (ASX:LU7,OTCPink:LUVSF), told the crowd China’s dominance in the battery metals sector began with a national goal of lowering vehicle emissions in the cities.

“(The) strategy was to reduce pollution in the cities, and that started the battery revolution,” he said of the nation’s switch to electric scooters and cars.

Additionally, the decision was further supported by a long term mandate.

“With the 15 year plan, government regulations, incentives, and investment started to flow according to the plan,” said Tan. “One of the downsides with Western economies is that (the government) changes every four years, whereas in China, the plan is just updated, and you can make long term investments in this area.”

.@globallithium recounts how #China overtook #Japan’s #lithium battery production in the early 2000s.

‘It’s like Survivor — they outplayed, outwitted and outlasted,’ he said at @Fastmarkets’ ‘Decoding China Playbook’ panel. #Investing #Lithium pic.twitter.com/xagbLhBBAC

— Resource Investing (@INN_Resource) June 26, 2025

As Joe Lowry, president of Global Lithium (ASX:GL1,OTCPink:GBLRF) and widely considered ‘Mr. Lithium’, added the battery supply chain in China, was further strengthened in 2003 when then president Hu Jintao selected the battery industry among his 10 Champion Industries.

Over the two decades since the Asian nation has invested heavily up and down the supply chain.

“If it was a TV show, it would be Survivor. China, outplayed, outwitted, and outlasted their competition,” said Lowry.

Financing the future

As with most cyclical commodities once lithium prices began to fall financing and investment also declined. Although the long term demand outlook is poised to benefit from battery sector expansion and energy storage system growth, the current glut in the market has created a challenge for Western companies.

This was reiterated by SC Insights Founder and Managing Director Andy Leyland, who used a colour coded chart to explain the discrepancy.

.@andyleyland1 of @SCInsightsLLC takes the stage at @Fastmarkets to present his #lithium price rainbow chart, highlighting the discrepancy in production relative to the lithium price.#Investing #BatteryMetals pic.twitter.com/UkRVlQqB3q

— Resource Investing (@INN_Resource) June 26, 2025

Leyland noted that at current low lithium prices (around US$7,000 per ton), companies are not making final investment decisions (FIDs) for new lithium projects.

Additionally over the past 12 months, hardly any FIDs have been happening in the industry. This is because at such low price levels, most projects are not financially viable.

Producers are cutting back on capital expenditures and are unable to justify new investments. The low prices make it economically challenging for companies to move forward with new lithium production projects, effectively freezing new developments in the sector.

This sentiment was echoed at the “Unlocking Funding: Bridging the Liquidity Gap and the Battery Market” panel, where YJ Lee, director and co-fund manager at Arcane Capital Advisers offered advice for junior miners.

“There’s very little financing available. So the junior miners … have to really cut the corporate costs, keep that as low as possible. But the operations must go on. They must continue drilling. They must continue developing. Because the next up cycle, I believe, is just around the corner.”

Investor Insight

Sun Summit Minerals is targeting the delineation of a multi-million-ounce gold-silver resource at its flagship JD project. With strategic positioning in an emerging consolidation hotspot, compelling valuation metrics, and a track record of discovery, Sun Summit is primed to deliver substantial value creation in the coming quarters.

Overview

Sun Summit Minerals (TSXV:SMN,OTCQB:SMREF) is a Canadian mineral exploration company focused on developing its district-scale gold and copper projects in British Columbia. The company’s flagship JD Project, located in the Toodoggone district, is undergoing an aggressive 5,000-meter drill campaign in 2025 aimed at delineating a multi-million-ounce epithermal gold-silver system.

Complementing JD is the company’s Buck project, a large, bulk-tonnage gold-silver system near Houston, BC, with an initial NI 43-101 resource estimate and significant exploration upside.

With capital in hand, a five-year exploration permit secured, and a camp established at JD, Sun Summit is executing a focused strategy to build scale, unlock resource potential and drive shareholder value. The company has taken lessons from its past and re-emerged with a sharpened vision, an overhauled team and assets that are not only high-grade but strategically located to create shareholder value.

Company Highlights

• Aggressive Discovery Strategy: Sun Summit Minerals is actively advancing the JD and Buck projects in BC, targeting epithermal gold-silver and porphyry copper-gold systems. A fully funded 5,000-meter drill program at JD underway in 2025, aiming to define a multi-million-ounce resource.
• Strategic Location: Both assets are situated in prolific and mining-friendly regions of British Columbia. The flagship JD project lies in the Toodoggone district—home to Thesis Gold and Centerra’s Kemess Mine, while Buck is near the Blackwater, Huckleberry, and Equity Silver mines in central BC.
• Re-rate Potential Opportunity: Trading at just ~$7/oz gold equivalent (EV/oz) based on Buck alone, with no value currently ascribed to JD, the company represents a deep value opportunity compared to the next-door neighbour Thesis Gold trading at ~$50/oz. Success at the drill bit from the ongoing drill program at JD could drive the potential re-rating.
• Fully Funded for 2025: A recent C$10M raise (May 2025) enables a robust exploration program, including drilling, geophysics, and soil sampling. The company is well-positioned to achieve its 2025 and 2026 exploration milestones without further dilution.
• Experienced, Capital Markets-Savvy Leadership: CEO Niel Marotta brings capital markets acumen from Fidelity and Orezone. The broader team includes senior geologists and advisors with decades of success in gold discoveries and mine development in BC.
• Positioned for Consolidation: With majors like Freeport, Centerra, and Skeena investing heavily in adjacent properties, Sun Summit is strategically located and advancing at the right time in the Lassonde Curve to benefit from industry-wide M&A and consolidation trends.

Key Projects

JD & Theory Projects

The JD & Theory projects span more than 25,000 hectares in the heart of the Toodoggone mining district in north-central BC, one of Canada’s most prospective belts for epithermal gold-silver and porphyry copper-gold systems. The district is home to Thesis Gold’s Ranch and Lawyers deposits (4.7 Moz gold equivalent, C$250 million market cap), Centerra’s Kemess underground development, and TDG Gold’s Shasta-Baker project. Infrastructure around the project includes hydroelectric grid access, the nearby Sturdee airstrip and all-season roads.

The JD project hosts a 4.5 km mineralized corridor, known as Creek-Finn, with multiple underexplored targets showing evidence of both high-grade veins and broad disseminated gold systems. Historic and recent drill highlights include:

• 2.1 grams per ton (g/t) gold over 122.5 m including 121 g/t gold over 1.5 m (CZ-24-004)
• 11.7 g/t gold over 22 m including 61.2 g/t gold over 4 m (CZ97-008)
• 7.3 g/t gold over 35.7 m including 215.4 g/t gold over 1 m (JD95-0472)

The Creek Zone features high-grade epithermal veins within broader disseminated zones, supported by strong IP anomalies and gold-in-soil results up to 12.2 g/t gold. The Finn Zone hosts near-surface mineralization with extensive historical drilling (~270 holes) and is open in all directions. Other targets include McClair (porphyry copper), East McClair (copper-gold skarn) and Moosehorn.

The 2025 program includes 5,000 meters of core drilling across 25 holes, 20 km of IP geophysics, 2,000+ soil samples, and full-scale camp operations. A five-year permit secured in April 2025 provides exploration continuity through 2030.

Camp setup at JD project

Sun Summit can earn 100 percent of the JD project by making staged cash/share payments and completing work commitments through 2029. With ~C$6 million earmarked for the project this year alone, Sun Summit is expected to fulfill its 2025 and 2026 earn-in obligations without additional equity raises.

Buck Project

The 100 percent owned Buck project spans 52,000 hectares and is located near key deposits, including Artemis Gold’s Blackwater (8 Moz gold), Imperial’s Huckleberry copper mine, and Newmont’s historic Equity Silver mine. Buck features near-surface bulk-tonnage gold-silver mineralization with porphyry copper-molybdenum potential at depth.

In February 2025, Sun Summit published its inaugural NI 43-101 mineral resource:

• Indicated: 1.15 Mt @ 0.519 g/t gold equivalent (19,100 oz)
• Inferred: 52.2 Mt @ 0.489 g/t gold equivalent (820,400 oz)

Mineralization remains open in all directions. Buck is considered a strategic asset providing leverage to rising gold prices and future transaction potential, but currently receives minimal capital allocation as JD is prioritized.

Management Team

Niel Marotta – Chief Executive Officer and Director

Niel Marotta has more than two decades of capital markets experience, including a successful tenure at Fidelity (FMRCo.), where he managed the top-performing Select Gold Fund and oversaw >$1 billion in AUM. He was previously VP at Orezone Resources, where he helped lead its C$350 million acquisition by IAMGOLD. Marotta has raised over $1 billion in financing and is driving Sun Summit’s transition from a legacy explorer to a discovery-focused value generator.

Brian Lock – Executive Chairman

A veteran of the mining industry with 40+ years of executive experience, Brian Lock has led multiple public companies, including Castle Peak Mining and Scorpio Gold. His expertise spans project development, M&A and corporate governance.

Waseem Javed – Chief Financial Officer

A seasoned mining CFO, Waseem Javed ensures disciplined capital deployment and financial controls. His experience spans junior explorers and mid-tier producers across Canada and the US.

Ken MacDonald – VP Exploration

Ken MacDonald is a registered professional geologist with over 30 years in mineral exploration and permitting in BC. Formerly with the BC Mines Branch and multiple juniors, he leads Sun Summit’s technical programs and NI 43-101 compliance.

Christopher Leslie – Technical Advisor

An expert in porphyry and epithermal systems, Christopher Leslie led the discovery of the 8 Moz Blackwater deposit while at Richfield Ventures, and later served as VP exploration for Tower Resources. He was instrumental in advancing the JD-Theory project during its prior ownership.

Robert D. Willis – Senior Advisor

Founder of several successful exploration companies, including Pioneer Metals and Manhattan Minerals, Robert Willis has 35+ years of technical and executive experience across North and South America.

Terry Salman – Strategic Advisor

Founder of Salman Partners and one of Canada’s most influential mining financiers, Terry Salman has backed dozens of successful juniors over a 40-year career in mining investment banking.

Investor Insight

Metals Australia offers investors exposure to a rapidly advancing, high-grade graphite development project in Quebec with near-term growth catalysts, backed by strong government support, battery-grade test results, and a diversified portfolio of critical, precious and base minerals assets in tier-1 jurisdictions.

Overview

Metals Australia (ASX:MLS) is a mineral exploration company with a high-quality portfolio of advanced battery minerals and metals projects in tier-1 mining jurisdictions of Western Australia and Canada. The portfolio comprises two critical minerals projects in Quebec, Canada – the Lac Carheil flake graphite project and the Corvette River gold, silver and base metals project. The Australian portfolio comprises two projects: Warrego East (copper-gold) in Tennant Creek, Northern Territory, and Manindi (vanadium-titanium, zinc) in Western Australia.

The push for net zero targets and the call from policymakers to transition to cleaner energy has intensified the focus on electric vehicles (EVs) and battery storage. EV automakers and battery manufacturers rely on essential materials such as graphite and metals, including lithium, nickel, copper and cobalt, to manufacture the batteries that are used in these vehicles and storage batteries generally. This has driven carmakers and battery manufacturers to partner with battery material suppliers under direct off-take agreements. Further, some automakers/battery manufacturers are buying equity stakes in miners, involving them directly in financing decisions for the development of mining projects. This is encouraging for companies such as Metals Australia as it actively advances its projects towards development.

Graphite is a critical mineral required for the mass electrification of auto transportation.

Metals Australia is focused on progressing its flagship Lac Carheil flake graphite project in Quebec, Canada. The project is well-positioned to supply high quality graphite products, including battery-grade graphite, to the North American market – including for lithium-ion and EV battery production in the future. The company has completed a major winter drill program and is targeting a mineral resource upgrade in Q3 2025, with the updated resource to feed into the ongoing PFS and downstream studies.

Metallurgical work has demonstrated battery-grade spherical graphite (99.96 percent graphitic carbon) with high conversion efficiency and tap density. Downstream battery-grade purification and shaping test work is underway in Germany with ANZAPLAN.

Metals Australia is also advancing its gold silver and base metals exploration project at Corvette River, which is adjacent to Patriot Battery Metals’ world-class lithium project. Work to date has included mapping, trenching and sampling, with further drilling programs planned for 2025.

The company continues its exploration programs at its other Australian projects: Manindi (vanadium-titanium-magnetite) and Warrego East (copper-gold).

Company Highlights

• Metals Australia is rapidly advancing its flagship Lac Carheil graphite project in Quebec, Canada.
• The company holds a high-quality suite of exploration projects, including:
  • gold, silver and base metals in Quebec
  • vanadium, titanium and magnetite (VTM) in Western Australia (WA) – beside an already declared zinc-copper and silver mineral resource and copper-gold in the Northern Territory (NT)
• All projects are located in tier-1 mining jurisdictions (Canada and Australia) with world-class prospectivity and stable geopolitics.
• The company’s four key projects include: Lac Carheil (graphite); Corvette River (gold, silver and base metals); Manindi (vanadium-titanium-iron + zinc-copper-silver) in WA; Warrego East in the NT (copper-gold)
• A 9,482 meters winter drilling program was completed at Lac Carheil in early 2025, increasing total drilling to ~11,800 meters.
• The program added more than 4,000 m of graphitic carbon drill intercepts to the 840 m used to define the initial mineral resource.
• Graphite mineralisation has now been confirmed to be over 2.3 km of strike length, up from 1 km, on just one of 10 mapped trends.
• A mineral resource estimate (MRE) update is expected in Q3 2025 to expand the existing JORC 2012 mineral resource of 13.3 Mt @ 11.5 percent Cg, and to support an expanded mine plan.
• Only 6 percent of 36 km mapped graphite trends have been drilled to date.
• Battery-grade graphite testing confirmed:
  • 99.96 percent Cg purity
  • 65.3 percent battery anode conversion efficiency
  • 0.97 kg/L tap density
• A pre-feasibility study (PFS) is progressing with Lycopodium, and ANZAPLAN is advancing downstream test work for a battery anode material (BAM) facility.
• A C$600,000 grant awarded to Lac Carheil from the Quebec government to support pilot metallurgy and downstream studies.
• Exploration also continues across the Corvette River, Manindi, Warrego East Projects.
• Metals Australia is led by a seasoned board and management team with extensive mining experience and a strong track record of project development.

Key Projects

Canada

Lac Carheil Flake Graphite Project (MLS 100 percent)

The 100 percent owned Lac Carheil graphite project is located in eastern Quebec, a tier-1 mining jurisdiction with strong infrastructure and government support. The project lies near the town of Fermont and has excellent access to power and logistics, including proximity to the upgraded Highway 389, nearby hydropower infrastructure, and an expanding provincial road network.

Project location, claims boundaries, graphite resource & trends, regional magnetics & sample results

The current JORC 2012 mineral resource is 13.3 Mt 11.5 percent total graphitic carbon (Cg) for 1.53 Mt of contained graphite, based on limited drilling along just 1 km of a much larger 36 km mapped trend. The resource includes an indicated resource of 9.6 Mt @ 13.1 percent Cg, and inferred resource: 3.7 Mt @ 7.3 percent Cg.

A major 9,482-meter winter diamond drilling program was completed in early 2025, increasing total project drilling to ~11,800 meters. The program defined a new southeast extension zone with multiple intersections >15 percent Cg and demonstrated graphite continuity over 2.3 km of strike length, more than double the previous extent.

The results from this drilling campaign are being incorporated into an updated mineral resource estimate, expected in Q3 2025, which will underpin the next stage of project development.

Metallurgical and battery test work has confirmed Lac Carheil’s graphite is suitable for battery-grade applications, with:

• Flotation concentrate purity of 97 percent Cg
• Spherical graphite purity of 99.96 percent Cg
• Tap density of 0.97 kg/L
• Anode conversion efficiency of 65.3 percent, exceeding global industry averages

A PFS is being led by Lycopodium Minerals Canada and is progressing in parallel with downstream battery anode (BAM) test work led by ANZAPLAN in Germany, a location study for a BAM facility, likely in Canada, and marketing and pricing assessments in collaboration with Lone Star Technical Minerals.

The project is uniquely positioned to meet North America’s surging demand for secure, domestic graphite supply, especially for EV and energy storage battery markets. It represents a strategic, high-grade, long-life source of critical material, with potential for vertical integration from mine to battery anode material.

Corvette River Gold, Silver and Base Metals Project (MLS 100 percent)

Highlights of results from Corvette River project phase 1 2024 field program

The Corvette River gold, silver and base metals project is located in Quebec’s James Bay region. Corvette River comprises multiple prospects including East Eade, West Eade and Felicie. The 2024 program confirmed high-grade gold and base metal zones, with trench samples of up to 29.7 g/t gold. Field programs are ongoing, with follow-up work planned in 2025.

Australian Projects

Manindi Project (MLS 80 percent)

Located in the Murchison District of Western Australia, the Manindi project includes a JORC-compliant zinc-copper-silver resource of 1.08 Mt at 6.52 percent zinc, 0.26 percent copper and 3.19 g/t silver. The project also hosts a high-grade vanadium-titanium-iron (Ti-V-Fe) discovery zone situated adjacent to the base metals resource.

Recent metallurgical test work from the Ti-V-Fe zone has produced two commercially attractive concentrates: a high-grade iron-vanadium product grading 66 percent Fe and 1.19 percent V₂O₅, and a titanium-iron product grading 43.8 percent TiO₂ and 32.0 percent Fe. The combined mass recovery from the two products exceeded 65 percent of the sample, and both products displayed low impurity levels and strong commercial potential. Further processing optimization is underway to enhance the TiO₂ grade.

The mineralised Ti-V-Fe zone remains open at depth and along strike and is hosted within a 2 km-long magnetic gabbro trend. A program of work is being finalised to support drilling to define a mineral resource within the original discovery and to test four newly identified nearby targets. These complements renewed interest in the zinc-copper-silver resource due to stronger base metal prices.

Warrego East Project (MLS 80 percent)

The Warrego East copper-gold project is located in the Tennant Creek region of the Northern Territory, near the historically significant Warrego Mine. The exploration license (E32725) is fully granted, and the mining management plan has been approved. Land access agreements have also been finalised.

Geophysical surveys have defined 11 compelling magnetic and gravity targets along a known mineralised corridor. These targets lie within a prospective structural setting that hosts several high-grade historical deposits. A field program is being prepared for execution following the wet season, alongside three additional tenement applications that aim to expand the project footprint.

Management Team

Paul Ferguson – Chief Executive Officer

A mining engineer, Paul Ferguson has over three decades of experience in the resources and energy sectors across North America, Asia and Australia. He has extensive project development and operational experience working in Canada. He has worked in oil & gas major ExxonMobil across project stages, including feasibility, design, construction, and operation. He has worked in executive level roles within Australia, including at GMA Garnet and held increasingly more senior roles with BHP (Iron Ore & Coking Coal) and then with Exxon Coal Minerals and Mobil Oil Australia during the early stages of his career.

Tanya Newby – CFO and Joint Company Secretary

Tanya Newby is a finance and governance professional with over 20 years’ experience in various corporate and commercial roles. She has a strong background in the resources sector and has provided financial advice and assistance to several publicly listed entities through exploration, project development through to the production stage. She is a member of the Institute of Chartered Accountants, member of the Governance Institute of Australia and a graduate member of the Institute of Company Directors.

Michael Muhling – Joint Company Secretary

Michael Muhling has over two decades of experience in resources, including 15 years in senior roles with ASX-listed companies. He is a fellow of CPA Australia, The Chartered Governance Institute, and the Governance Institute of Australia.

Chris Ramsay – General Manager Geology

Chris Ramsay is a geologist and project manager with over 25 years of experience in the global mining industry. He has been involved in exploration, mine development and operations for mining projects in Australasia, Southeast Asia, and parts of Africa and North America.

Board

Michael Scivolo – Non-executive Chairman

Michael Scivolo has extensive accounting and taxation experience for corporate and non-corporate entities. He was a partner/director at a CPA firm until 2011 and has since been consulting in accounting and taxation. Scivolo is on the boards of several ASX-listed mining companies, including Sabre Resources, Golden Deeps and Tennant Minerals Ltd.

Alexander Biggs – Non-executive Director

Alexander Biggs has over 20 years of experience in the mining and engineering sectors. During his career, he has been involved in various activities, including operations, consulting, finance and capital raising. He is currently the managing director of Lightning Minerals (ASX) and was previously the managing director of Critical Resources (ASX: CRR). Biggs is a member of the Australian Institute of Mining and Metallurgy and a graduate of the Western Australian School of Mines.

Rachelle Domansky – Non-executive Director

Rachelle Domansky is an ESG specialist and a consulting psychologist for businesses, governments and educational institutions in the Asia-Pacific region. In addition to Metals Australia, Domansky holds non-executive board positions at Larvotto Resources Ltd and Quebec Lithium.

Basil Conti – Non-executive Director

Basil Conti has been associated with the mining industry for over 25 years. He is a fellow of the Institute of Chartered Accountants Australia & NZ and was a partner/director of a chartered accounting firm in West Perth until 2015.

Bitcoin and Ethereum price update

Bitcoin (BTC) is priced at US$107,699, up 1.6 percent in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$105,402 and a high of US$107,968 at the opening bell.

Bitcoin price performance, July 2, 2025.

Chart via TradingView

Bitcoin’s price gain was driven by a calm in Middle East tensions and growing optimism after the Fed signaled a dovish tilt, both factors boosted investor risk appetite. . Additionally, continued inflows into US spot Bitcoin ETFs and favorable regulation expectations helped sustain the upward momentum.

Ethereum (ETH) is priced at US$2,450.40, up by 2.1 percent over the past 24 hours. Its lowest valuation on Wednesday was US$2,393.31 and its highest was US$2,467.66.

Altcoin price update

• Solana (SOL) was priced at US$149.40, up by 2.2 percent over 24 hours. Its highest valuation as of Wednesday was US$150.29, and its lowest was US$145.46.

• XRP was trading for US$2.18, up by 0.7 percent in 24 hours. The cryptocurrency’s lowest valuation was US$2.15 and its highest was US$2.20.

• Sui (SUI) is trading at US$2.74, showing an increaseof 4.7 percent over the past 24 hours. Its lowest valuation was US$2.67, and its highest valuation was US$2.82.

• Cardano (ADA) is priced at US$0.5576, up by 4.7 percent in the last 24 hours and its highest valuation of the day. Its lowest valuation as of Wednesday was US$0.538.

Today’s crypto news to know

Tech billionaires launch Erebor, a crypto-focused bank to fill SVB void

A group of prominent tech investors, including Anduril’s Palmer Luckey, Peter Thiel’s Founders Fund, and Palantir co-founder Joe Lonsdale, are backing a new US-based crypto bank called Erebor, according to the Financial Times.

Erebor has applied for a national banking charter and plans to serve technology-driven sectors like AI, defense, and crypto, as well as individuals working in these fields. The digital-only bank will be headquartered in Columbus, Ohio, with an additional office in New York.

Erebor intends to hold stablecoins on its balance sheet, offering a stable value backed by reserves. The bank is led by Owen Rapaport and Jacob Hirshman, a former Circle adviser.

Erebor’s mission is to address the gap left by the collapse of Silicon Valley Bank, which had been a critical channel for startups and venture investors until its 2023 failure.

Coinbase buys Liquifi in undisclosed deal

Coinbase has acquired Liquifi, a startup that builds token management platforms for crypto projects, continuing its busy M&A streak in 2025.

Liquifi, backed in its 2022 seed round by Dragonfly and investors like Balaji Srinivasan, helps projects track token vesting, manage crypto cap tables, and handle tax requirements.

Coinbase declined to disclose the purchase price but said Liquifi will help streamline token launches and distribution. This puts Coinbase closer to an “end-to-end” model, similar to Binance’s launchpad, which supports crypto creation from early stages.

Liquifi has been locked in a legal fight with competitor Toku over alleged business document theft, claims which it denies, and Coinbase said it will stand by Liquifi’s defense.

The deal follows other Coinbase acquisitions this year, including Spindl, Iron Fish’s team, and the record-breaking US$2.9 billion Deribit buy.

China considers Stablecoins to reinforce cross-border payment strategy

Policy advisers in China are pressing Beijing to explore stablecoins for cross-border payments, even as the country’s broad crypto ban remains in place, Bloomberg reported.

People’s Bank of China Governor Pan Gongsheng noted that stablecoins could make international finance more resilient to geopolitical disruptions, a view echoed by other senior officials.

Former PBOC governor Zhou Xiaochuan suggested dollar-linked stablecoins might even accelerate dollarization, while others see a case for yuan-backed coins to support China’s long-term currency goals.

The momentum comes after the US Senate passed a stablecoin bill in June, advancing President Trump’s digital currency agenda.

Stablecoin supply is projected to reach US$3.7 trillion by 2030, driven by cheaper, faster settlement options compared to traditional banking.