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‘For posterity’s sake.’

Those words from President Joe Biden sum up the crushing impact of the leaked audiotapes from the interview between him and Special Counsel Robert Hur. Not only did they remove any doubt over Biden committing federal crimes, but they also constituted what is akin to a political racketeering indictment against much of the Washington establishment, from the White House staff to Democratic politicians to the media.

The interview, conducted from Oct. 8-9, 2023, has long been sought by Congress, but was kept under wraps by Biden’s Justice Department even as Biden campaigned for a second term.

Many of us balked at the conclusion of Hur that no charges were appropriate despite the fact that the president had removed classified documents for decades, stored them in grossly negligent ways, and moved them around to unsecure locations, including his garage in Delaware.

Given President Donald Trump’s indictment for the same offenses, it was hard to imagine how the special counsel could not recommend the same criminal charges (presumably after he left office).

Instead, Hur declared it would have been hard to get a jury to convict Biden because he was ‘a sympathetic, well-meaning, elderly man with a poor memory.’

It appears that Trump, on the other hand, was presumptively not sympathetic or well-meaning and possessed a good enough memory to face prosecution.

The contrast was glaring and only reinforced the view of many citizens that there are two tracks for justice in Washington.

Soon after the report’s release, Biden gave an irate press conference at which he lied about the findings of his culpability and lashed out at any suggestion that he had gapped or stumbled in the interview.

For example, when reporters raised Hur’s assertion that Biden had forgotten when his son Beau died, Biden angrily responded, ‘How in the hell dare he raise that?’ Frankly, when I was asked the question, I thought to myself it wasn’t any of their damn business.’

However, it was not Hur but Biden himself who raised the death of his son, and he forgot a wide array of dates, including when he served in office.

The interview shows that in 2023 it was clear that Biden was mentally diminished despite claims from many allies and former aides that there was a sudden loss of capacity just before the disastrous debate in 2024. It is now undeniable that the White House staff actively hid the president’s incompetence from the American public. That includes the White House Press Secretary Jen Psaki (who left her post in May 2022) and her successor, Karine Jean-Pierre, who insisted that Biden was sharp and ‘running circles’ around the staff.

Of course, the media is now covering the story after the public saw the truth in the debate. Figures like CNN’s Jake Tapper have even written books that belatedly pursue the question despite previously insisting that there was no evidence of a diminishment in Biden’s mental state.

Tapper repeatedly dismissed the claim and even excoriated Lara Trump for raising it. In one interview, he pushed a White House talking point that such suggestions were mocking Biden for a childhood stutter.

‘It’s so amazing to me- a ‘cognitive decline,’’ he told the president’s daughter-in-law. ‘I think you were mocking his stutter. Yeah. I think you were mocking his stutter and I think you have absolutely no standing to diagnose somebody’s cognitive decline. I would think somebody in the Trump family would be more sensitive to people who do not have medical licenses diagnosing politicians from afar.’

When Lara Trump insisted that this was clearly evidence of a ‘very concerning’ cognitive decline, Tapper dismissed her statement by saying, ‘Thank you, Lara. I’m sure it’s from a place of concern. We all believe that.’

Keep in mind that others beyond Lara Trump were raising this issue and there were tapes showing obvious physical and mental decline. The media simply refused to seriously pursue the story until the cover-up no longer mattered after the debate.

Over on MSNBC, Joe Scarborough was equally apoplectic at those raising the issue and stated

‘Start your tape right now because I’m about to tell you the truth. And eff you if you can’t handle the truth. This version of Biden intellectually, analytically, is the best Biden ever. Not a close second. And I have known him for years…If it weren’t the truth, I wouldn’t say it

This media effort continued all the way up the debate itself. On CNN.com, Oliver Darcy wrote ‘Right-wing media figures are desperately pushing conspiracy theories about Biden ahead of the debate.’

Once the public found out, the media was ready to tell the story when it became impossible, and no longer politically beneficial, to deny it. Articles began to appear with the same realization of, ‘Oh you meant THAT mental decline. Well sure.’

It was the same belated acknowledgment that came, after the election, with Hunter Biden’s laptop. The media just moved on with a shrug and a collective ‘our bad’ concession.

As for the then-president himself, the one moment of clarity in the interview may have been his most incriminating line. When asked why he removed classified material on Afghanistan, Biden admitted ‘I guess I wanted to hang on to it for posterity’s sake.’

That is precisely what critics on CNN and MSNBC accused Trump of doing: removing material as types of keepsakes or trophies.

One president was indicted for that and one was sent along his way to pursue a second term in office.

The real indictment that comes out of these tapes is a type of political racketeering enterprise by the Washington establishment. It took a total team effort from Democratic politicians to the White House staff to the media to hide the fact that the president of the United States was mentally diminished. It there were a political RICO crime, half of Washington would be frog marched to the nearest federal courthouse.

Of course, none of this complicity in the cover-up is an actual crime. It is part of the Washington racket.

After all, this is Washington where such duplicity results not in plea deals but book deals.

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President Donald Trump’s bold executive order on drug pricing isn’t just policy—it’s a revolution in healthcare affordability. The plan is simple yet transformative: ensure Americans pay no more for medications than citizens of other wealthy nations.

Consider this stark reality: a GLP-1 drug costing $88 in London commands $1,000 in the United States. Even after manufacturer discounts to insurers, Americans still pay over $400—for the identical medication, from the same company, produced in the same facility. This disparity is especially galling when pharmaceutical companies extract 70% of their profits from America—a nation representing just 4% of the world’s population. This global free-riding on American patients ends now.

Industry leaders recognize this imbalance. I’ve already engaged with CEOs from four major American pharmaceutical companies and a foreign manufacturer eager to relocate to the U.S. Their response has been encouraging, but we’re prepared to act decisively if necessary. U.S. Health and Human Services and Centers for Medicare & Medicaid Services (CMS) possess the statutory authority to deliver on President Trump’s commitment: other developed nations must pay more, so Americans can pay less, thus preserving the innovation pipeline.

Americans deserve both groundbreaking therapies and affordable access to them. Yet according to the Kaiser Family Foundation, nearly one-third of patients skip prescribed medications due to cost—an unacceptable reality in the world’s wealthiest nation.

While prevention through healthier lifestyles remains our best strategy for reducing medication dependence, certain treatments will always be essential. The pharmaceutical industry has delivered remarkable advancements in cancer and autoimmune therapies that benefit patients worldwide. 

We value continued innovation as a core American principle, but we cannot indefinitely subsidize global medical progress while other wealthy nations contribute disproportionately little.

President Trump’s negotiation approach has already proven effective with NATO, where European countries responded to accountability by making historic reinvestments that strengthened the alliance. The same principle applies here. The President and I stand united: global free riding on American patients must end.

CMS, with Dr. Mehmet Oz at the helm, extends beyond payment reform to fundamentally realigning care delivery incentives. This initiative will protect safety nets for vulnerable populations while addressing the financial pressures facing state partners and federal programs—particularly Medicaid, which has seen dramatic growth in both enrollment and costs.

The coming months will be decisive in achieving President Trump’s prescription for a healthier America—one where innovation thrives, and patients no longer shoulder an unfair share of the global healthcare burden.

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The top tax-writer in the House of Representatives is arguing that President Donald Trump’s ‘big, beautiful bill’ will be ‘big’ for American taxpayers as well – including seniors.

House Ways & Means Committee Chairman Jason Smith, R-Mo., and other Republicans on the panel spent months negotiating behind closed doors on how to enact Trump’s tax policies.

Among those is an added $4,000 deduction for Americans aged 65 or older. Seniors with income of less than $75,000 as single filers, and less than $150,000 as joint filers, would be eligible for the full deduction, which then would begin to phase out.

‘So, that’s on top of their guaranteed deduction, and that’s per person . . . anyone who has total earnings of $75,000 a year or less is going to be made completely whole, so all the low-income and middle-income seniors on Social Security will be paying zero on Social Security in the long run,’ Smith told Fox News Digital, while adding of others, ‘most of them will be paying much less.’

Republicans are using the budget reconciliation process, which lowers the Senate’s threshold for passage from 60 votes to 51 for certain pieces of fiscal legislation, to advance a vast bill full of Trump’s priorities on taxes, immigration, energy, defense and the national debt.

Because the House already operates under a simple majority, reconciliation allows the party in power to pass sweeping legislation while sidelining the other side, in this case, Democrats.

Trump has directed congressional Republicans to permanently extend his 2017 Tax Cuts and Jobs Act (TCJA), as well as implement new policies eliminating taxes on tips, overtime pay and retirees’ Social Security.

But the law that established the reconciliation process, the Congressional Budget Act of 1974, also specifically forbade direct changes to Social Security via the process.

Smith said Republicans’ had added $4,000 tax deduction as a way to make them ‘completely whole.’

Rather than seeing that tax relief month-to-month, however, Smith said it would come in people’s yearly tax returns.

He argued that it was more beneficial for lower-income seniors as well, giving added relief to those whose incomes were too low to pay Social Security taxes in the first place.

‘Under the rules of reconciliation, you cannot touch Social Security directly. What we did is to make sure that they get . . . tax relief for any senior who makes less than $75,000 per year,’ Smith said. ‘It’s not that we didn’t want to do it, it’s that it cannot be done under the rules of reconciliation, or you wouldn’t qualify for the 51-vote threshold over in the United States Senate.’

‘But the tax relief they will receive is an added tax cut, and that will make up for what they have paid in Social Security tax.’

The White House also endorsed Smith’s plan despite its departure from Trump’s initial campaign pitch.

‘The One, Big, Beautiful Bill not only delivers permanent tax cuts and bigger paychecks, but it secures a historic tax break for seniors on Social Security,’ White House spokesperson Anna Kelly said. ‘This is another promise made, promise kept to our seniors who deserve much-needed tax relief after four years of suffering under Bidenflation.’

The $4,000 tax deduction, which would be in effect from the 2025 through 2028 tax years, would be on top of the higher standard deduction that people above age 65 already receive. 

It would not be a tax credit, reducing tax liability directly regardless of tax brackets. A deduction reduces taxable income and is dependent on the taxpayer’s rate.

But for single seniors making up to $75,000, and married seniors making less than $150,000, qualifying for the $4,000 deduction, it would likely provide some relief for millions of taxpayers across the country.

‘It’ll be a wash of what their Social Security tax would’ve been,’ Smith said, adding later in the interview: ‘Failure’s not an option. We’re going to get this done.’

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President Donald Trump spent his 17th week as commander-in-chief visiting the Middle East, marking his first major overseas trip of his second term. 

The president left Washington, D.C., Monday for Saudi Arabia, followed by a visit in Qatar and the United Arab Emirates. 

The president’s trip comes amid the continuing war between Israel and Hamas, ongoing U.S.-Iran negotiations over Iran’s nuclear program, and his plans to broaden his first administration’s Abraham Accords, which normalized diplomatic relations between Israel and Arab League nations such as the United Arab Emirates. 

Trump arrived in Riyadh, Saudi Arabia, early Tuesday morning, with the nation sending fighter jet escorts to welcome Air Force One to the ground and Saudi Crown Prince Mohammed bin Salman greeting Trump on the tarmac, which was adorned with a lavender-colored carpet.

Upon his arrival to Riyadh, Saudi Arabia, Trump was also met with a mobile and operational McDonald’s truck. 

The president, during a speech in Riyadh shortly after meeting with Crown Prince Mohammad bin Salman, vowed to continue America’s partnership with the Saudi Arabian government, but also called for peace in the Middle East, urging the region to pursue economic development rather than Iran’s ‘self-destructive’ path. 

‘If the responsible nations of this region seize this moment, put aside your differences and focus on the interests that unite you, then all humanity will soon be amazed at what we will see here in the geographic center of the world, and the spiritual heart of its greatest faiths,’ Trump said.

‘Before our eyes, a new generation of leaders is transcending the ancient conflicts and tired divisions of the past, and forging a future where the Middle East is defined by commerce, not chaos; where it exports technology, not terrorism; and where people of different nations, religions, and creeds are building cities together, not bombing each other,’ he added.

Trump’s speech came after he and Salman signed several economic agreements totaling $600 billion in trade deals. The agreements could help create up to two million U.S. jobs, Trump said.

Several of the agreements tracked with previously stated ambitions by both Washington, D.C., and Riyadh, Saudi Arabia, particularly when it comes to defensive deals. 

But as for Iran, Trump, during his Saudi Arabia speech, also warned the Islamic Republic of a ‘massive maximum pressure’ campaign if it did not come to a nuclear agreement with the U.S. 

‘As I have shown repeatedly, I am willing to end past conflicts and forge new partnerships for a better and more stable world, even if our differences may be profound,’ Trump said. ‘If Iran’s leadership rejects this olive branch… we will have no choice but to inflict massive maximum pressure, drive Iranian oil exports to zero.’

‘Iran can have a much brighter future, but we will never allow them to threaten America and our allies with terrorism or a nuclear attack,’ Trump said. 

Trump had announced a 60-day time frame to reach an agreement with Iran over its illegal atomic weapons program. The first U.S. negotiating session with Iran commenced April 12. 

Trump’s special envoy Steve Witkoff met with Iranian officials for a fourth round of nuclear talks over the weekend. 

The nuclear talks were ‘difficult but useful,’ Iranian Foreign Ministry spokesperson Esmail Baghaei said. A U.S. official, speaking on condition of anonymity to discuss the closed-door negotiations, offered more, describing the talks as being both indirect and direct, The Associated Press reported.

An ‘agreement was reached to move forward with the talks to continue working through technical elements,’ the U.S. official said. ‘We are encouraged by today’s outcome and look forward to our next meeting, which will happen in the near future.’

The Trump administration has said the flawed 2015 Obama-era Joint Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear deal, did not prevent Iran from building an atomic bomb. 

Trump, throughout his visit, made stark warnings to Iran — verbally, and through sanctions. 

Just shortly after dangling a carrot of a ‘brighter future’ for Iran, the Treasury Department gave a taste of Trump’s ‘maximum pressure’ campaign and sanctioned more than two dozen firms operating in Iran’s illicit international oil trade. 

Trump said Iran has the nuclear ‘proposal.’ 

‘But more importantly, they know they have to move quickly or something bad — something bad is going to happen,’ the president said. 

Next, the president traveled to Qatar, where he signed a series of agreements with Qatar’s Emir Sheikh Tamim bin Hamad Al Thani in Doha.

Trump and his motorcade were greeted by dozens of mounted camels after his plane landed in Qatar Wednesday morning as he continues his four-day trip to the Middle East. 

The agreements there involved a purchasing agreement by Qatar for Boeing aircraft, as well as letters of intent and ‘joint cooperation’ between Qatar and the U.S. The emir also signed an intent agreement to purchase MQ-9 drone aircraft.

Al Thani said he had a ‘great’ conversation with Trump prior to the signing ceremony Wednesday, adding that the agreements have elevated the U.S.-Qatar relationship to ‘another level.’

The president then met with U.S. service members at Al Udeid Air Base in Qatar, and cited ‘substantial pay raises’ for U.S. troops in his 2026 budget. 

‘You are without a doubt the greatest fighting force in the history of the world,’ Trump said. ‘And as your commander-in-chief, I’m here to say that America’s military will soon be bigger, better, stronger and more powerful than ever.’ 

Next, the president traveled to the United Arab Emirates for his final stop — a visit that marked the first time a U.S. president has traveled to the nation in nearly 20 years, following President George W. Bush’s trip in 2008.

The Burj Khalifa in Dubai, the tallest building in the world, was illuminated in red, white and blue in honor of President’s historic UAE visit. 

Trump visited the Grand Mosque, a rare visit for a U.S. president, and was gifted the UAE’s highest civilian honor, the Order of Zayed, by UAE’s President Sheikh Mohammed bin Zayed Al Nahyan. 

The president wrapped up his visit to the United Arab Emirates with a visit to the Abrahamic Family House, which encompasses a mosque, a church, a synagogue, and a forum, and served as a community for inter-religious dialogue and peaceful co-existence.  

As of this week, Trump has signed 148 executive orders since his inauguration in January, including a whopping 143 within his first 100 days as president, dwarfing the number of executive orders signed by his predecessors stretching back to at least President Franklin D. Roosevelt. 

Fox News Digital’s Emma Colton, Morgan Phillis and Anders Hagstrom contributed to this report. 

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(TheNewswire)

Vancouver, British Columbia May 16, 2025 TheNewswire Allied Critical Metals Inc. (formerly Deeprock Minerals Inc.) (CSE: ACM) (OTCQB: 0VJ0) (the ‘ Company ‘ or the ‘ Resulting Issuer ‘) is pleased to provide a corporate update as to its updated uses of funds updating the disclosure in its Listing Statement dated April 23, 2025 (the ‘ Listing Statement ‘) which is publicly available under the Company’s profile on SEDAR+ at www.sedarplus.ca, to better reflect the actual results of concurrent financing (‘ Concurrent Financing ‘) of approximately $4.6 million announced by the Company on March 25, 2025 and corresponding updated uses of funds.

The following provides an outline of the Company’s principal purposes of funds, which updates the disclosure in the Listing Statement.

Principal Purposes of Funds

The Company intends to use the funds available to it upon completion of the Company’s transactions (the ‘Transactions ‘) for listing (the ‘Listing’) on the Canadian Securities Exchange (the ‘CSE’) to further its business objectives. Specifically, the Company intends to use the funds available to it following compl etion of the Transactions over the next 12 months as follows:

Use of Proceeds

Estimated Amount
($2.5 million minimum Concurrent Financing)

Estimated Amount
($5.0 million maximum Concurrent Financing)

Resulting Amount
(actual $4.6 million Concurrent Financing)

Variation from maximum $5.0 million Concurrent Financing

Exploration [1]

Borralha – Phase 1

$492,600

$492,600

$492,600

$0

Borralha – Phase 2 [2]

$1,503,200

$1,503,200

$0

Vila Verde – Phase 1 [3]

$226,000

($226,000)

Vila Verde – Phase 2 [4]

$1,066,835

($1,066,835)

Prepayment on 2027 Note [5]

$100,000

$100,000

$100,000

$0

12 months general and administrative costs [6]

$182,000

$182,000

$180,000

($2,000)

Estimated transaction costs [7]

$250,000

$250,000

$250,000

$0

Investor Relation Services [8]

$885,500

$885,500

Additional working capital [9]

$496,035

$231,866

$231,866

Totals:

$1,520,635

$3,820,635

$3,574,811

($245,824)

Notes:

  1. The Exploration is comprised of the recommended work programs for the Borralha Tungsten Project and the Vila Verde Tungsten Project, which are summarized in the Listing Statement. For more detail, please see the Borralha Technical Report and the Vila Verde Technical Report.

  2. Phase 2 of the recommended work program for Borralha was estimated at $1,503,200.

  3. The Company prioritises exploration of Borralha over Vila Verde, but once exploration of Borralha is addressed and if there are sufficient remaining funds then such funds may be allocated towards exploration at Vila Verde, which totals $226,000 for Phase 1 and $1,066,835 for Phase 2. As a portion of drilling expenses are expected to be settled in common shares, the Company expects that there will be sufficient available funds to begin exploration at Vila Verde.

  4. The total cost for Vila Verde’s Phase 2 work program is $2,279,000, but if drilling expenses are partly settled in common shares there may be sufficient funds available to commence Phase 2 of the Vila Verde work program following completion of Phase 1.

  5. On Closing, ACM must pay $100,000 to Pan Iberia as a prepayment of the 2027 Note. The funds available is already net of payment of short term promissory notes, which are paid on Listing and are related to repayment of mineral property license fees and acquisition of the 1% NSR.

  6. The 12 months general and administrative costs are expected to include $35,000 for audit and accounting expenses, $15,000 for regulatory, $45,000 for legal fees, $61,645 for investor conferences marketing fees and expenses, and $23,355 contingency for other general and administrative matters. The budget for management fees ($72,000) was reallocated to Borralha exploration as they pertain to license regulatory expenditure and other work in Portugal in respect of Borralha and the $60,000 budget for legal fees was adjusted to $45,000.

  7. The Transaction costs includes $170,000 legal expenses, $20,000 for the subscription receipt and warrant agent and CDS, $40,000 for CSE listing fees, and $20,000 filing fees and contingency.

  8. Since completion of the Listing, the Company has reallocated $885,500 fixed fees for investor relations services, as described in the Company’s news release dated May 2, 2025. A further amount of up to $15,560 per month variable cost of investor relations was allocated as additional working capital as such services will be terminated to limit costs within budgeted amounts. A discussion of the rationale for the allocation to investor relations services is provided below.

  9. Additional working capital will be deployed towards exploration of Borralha, then Vila Verde, and as working capital for expenses, which may include variable monthly expenses of up to $72,000 for market making ($6,000 per month) and other such expenses for investor relations services.

Prioritizing Borralha Exploration – Rationale for Changes to Uses of Proceeds

As previously disclosed in the Listing Statement (Section 3.3—Resulting Issuer), the Company is prioritizing exploration of Borralha as such exploration enables completion of a preliminary economic assessment( PEA) or prefeasibility study( PFS) for Borralha by the end of summer 2025. In particular, the above use of funds will enable the Company to complete Phase 1 and Phase 2 exploration of Borralha by the end of August 2025. Drilling is expected to commence at Borralha as soon as May 22, 2025.

Borralha is a brownfield past-producing advanced stage, near term production tungsten project which requires a proportionate approach to investor relations to adequately position the Company for the next stage of development. Accordingly, total funds of $885,500 (less than one fifth of the Concurrent Financing) were allocated for investor relations services to sufficiently position the Company’s profile for more significant capital raising following completion of the PEA/PFS this summer to prepare for eventual project financing. Funds allocated to investor relations are aimed at direct interactions with potential capital providers and market participants in the critical metals and tungsten markets to fast track the development and construction the Borralha as a key western source of global tungsten production, highlighting the Company’s profile as particularly well-placed to become a significant leader in global tungsten mineral exploration and development in Portugal. While global macro-economic and political factors are creating an excellent positive environment for the Company with tungsten prices rising 25% from $320/MTU (metric tonne unit) to $400/MTU over the past five months [Source: Fastmarkets, May 2025], tungsten remains a lesser known niche critical mineral in the capital markets community. Accordingly, the Company in consultation with its financial advisors, have developed a strategy to accelerate increased profile recognition in the lead up to completion of its PEA/PFS in the coming months. The Company is excited to begin the next chapter of development of its Borralha and Vila Verde Tungsten Projects and look forward to providing updates as drilling and further exploration progresses over the coming weeks and months.

The Company intends to spend the funds available to it on completion of the principal purposes described above. Nevertheless, there may also be circumstances where, for sound business reasons, a reallocation of funds may be necessary for the Company to achieve its short term and long term objectives. The Company may require additional funds in order to fulfill all of the Company’s objectives, in which case the Company expects to either issue additional shares or incur indebtedness. It is anticipated that the available funds will be sufficient to satisfy the Company’s objectives over the next twelve months.

New CFO

In addition, the Company is pleased to announce Sean Choi as its new Chief Financial Officer who replaces Keith Margetson who has stepped down effective May 14, 2025. The Company greatly appreciates all of Keith’s efforts in completing the Transactions as Chief Financial Officer for the Company since April 2023, and Keith will remain a consultant to the Company to provide assistance as necessary going forward.

Mr. Choi has over 19 years of experience in public accounting and mining industry. During his career, he has served as Chief Financial Officer of Ecuador Gold and Copper Corp. and Northern Sun Mining Corp. which were both reporting issuers listed on the TSX Venture Exchange. He also served as Chief Financial Officer of York Harbour Metals (TSXV: YORK) from April 2014 to June 2024.  Sean is a Chartered Professional Accountant and Chartered Accountant (Ontario) and holds a Bachelor of Administrative and Commercial Studies degree from the University of Western Ontario.

Options and RSUs

The Company also hereby announces the grant of 3,500,000 stock options (the ‘ Options ‘) at an exercise price of $0.22 per share granted to directors, officers, employees and consultants of the Company pursuant to its omnibus equity incentive plan, which vests immediately and expire 5 years after the date of grant. The Company also announces that it has granted 4,097,760 restricted share units (‘ RSUs ‘) to directors, officers, employees and consultants of the Company pursuant to its omnibus equity incentive plan, which vests on September 16, 2025.

The Options and RSUs will be subject to a four month hold period in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange.

ABOUT Allied Critical Metals INC.

The Company is is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China and Russia represent approximately 90% of the total global supply and reserves. The Tungsten market is estimated to be valued at approximately $5 – $6 billion USD and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.

Please also visit our website at www.alliedcritical.com.

Also visit us at:

LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc/

X: https://x.com/@alliedcritical/

Facebook: https://www.facebook.com/alliedcriticalmetalscorp/

Instagram: https://www.instagram.com/alliedcriticalmetals/

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains ‘forward-looking statements’, including with respect to the use of proceeds. Wherever possible, words such as ‘may’, ‘would’, ‘could’, ‘should’, ‘will’, ‘anticipate’, ‘believe’, ‘plan’, ‘expect’, ‘intend’, ‘estimate’, ‘potential for’ and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company’s Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company’s profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and terms of the investor awareness campaign, anticipated benefits to Company from running the investor awareness campaign, and the performance of the investor relations services providers of the marketing services as contemplated in the marketing agreements, or at all. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s Listing Statement dated April 23, 2025 , and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release and has neither approved now disapproved the contents of this press release.

ON BEHALF OF THE COMPANY

‘Roy Bonnell’

Chief Executive Officer and Director

For further information, contact:

Dave Burwell

VP Corporate Development

¿¿ daveb@alliedcritical.com

¿¿ 403-410-7907

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Newly elected Canadian Prime Minister Mark Carney announced his cabinet on Tuesday (May 13). Among his selections was Tim Hodgson, the Member of Parliament from Markham-Thornhill, as the new Minister of Energy and Natural Resources.

Hodgson’s portfolio will involve overseeing Canada’s resource sector. His selection has been seen as a nod to Alberta’s oil and gas sector due to his time serving as a board member of MEG Energy (TSX:MEG,OTC Pink:MEGEF), an oilsands producer based in Calgary.

Hodgson also spent time running Goldman Sachs’ (NYSE:GS) Canadian operations, where he advised the Bank of Canada during Carney’s tenure as the central bank’s governor.

South of the border, the United States Bureau of Labor Statistics released April’s consumer price index (CPI) data on Tuesday, reporting that all-items inflation rose by 0.2 percent on a monthly basis, as did core CPI, which doesn’t include the volatile food and energy categories.

The figures indicate a reversal in the deceleration seen over the past few months. During that time, all-items inflation slowed from a 0.5 percent increase in January to a 0.2 percent gain in February before recording a 0.1 percent decline in March. Similarly, core CPI had slowed to a 0.1 percent increase in March.

On an annualized basis, CPI posted a 2.3 percent increase, down from the 2.4 percent recorded in March. However, core CPI remained steady at 2.8 percent.

Markets and commodities react

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

The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 2.07 percent during the week to close at 25,971.93 on Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 1.93 percent to 672.84 and the CSE Composite Index (CSE:CSECOMP) shed 0.5 percent to 119.01.

US equities were in positive territory this week, with the S&P 500 (INDEXSP:INX) gaining 2.6 percent to close at 5,958.37, the Nasdaq-100 (INDEXNASDAQ:NDX) rising 2.88 percent to 21,412.91 and the Dow Jones Industrial Average (INDEXDJX:.DJI) adding 1.8 percent to 42,654.75.

The gold price was in decline this week, posting a loss of 3.75 percent, to close Friday at US$3,199.69. The silver price was also down, shedding 1.37 percent during the period to US$32.28.

In base metals, the COMEX copper price fell 2.34 percent over the week to US$4.60 per pound. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) posted a small gain of 0.31 percent to close at 533.11.

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 3 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. Foremost Clean Energy (CSE:FAT)

Weekly gain: 133.11 percent
Market cap: C$29.88 million
Share price: C$3.45

Foremost Clean Energy is a uranium explorer advancing projects in Saskatchewan’s Athabasca Basin. In 2025, its primary focus has been its Hatchet Lake property, part of its Eastern Athabasca projects. The site consists of nine mineral claims within two blocks covering an area of 10,2012 hectares and has seen exploration dating back to the 1960s.

Foremost announced in October 2024 that it had completed the first phase of an option agreement with Denison Mines (TSX:DML,NYSEAMERICAN:DNN) to acquire a 20 percent stake in 10 uranium properties, including Hatchet Lake, in exchange for 1.37 million common shares. Under the terms of the agreement, Foremost can earn up to a 70 percent stake in the properties in exchange for meeting certain milestones within 36 months.

Shares in Foremost have gained after making several positive exploration announcements over the past few weeks.

On May 1, Foremost announced a new uranium discovery at Hatchet Lake based on initial results from an ongoing inaugural drill program. The company said the discovery includes multiple intervals of mineralization, highlighting one grading 0.22 percent equivalent U3O8 over 0.9 meters, including two intersections of 0.1 meters grading 0.58 percent and 0.5 percent.

Follow up information from the program was released on Thursday (May 15) when Foremost reported anomalous radioactivity was detected in 6 out of 10 completed drill holes. After receiving the preliminary results, the company expanded its program from the original eight hole, 2,000 meter program to a 10 hole, 2,400 meter program. Assay results remain pending.

2. Anfield Energy (TSXV:AEC)

Weekly gain: 50 percent
Market cap: C$10.27 million
Share price: C$0.09

Anfield Energy is a uranium and vanadium development company working to advance several projects in the United States.

Among them is its Velvet-Wood project located in Lisbon Valley, Utah, a region with historic uranium exploration and production. The site itself hosts underground infrastructure that was used to recover approximately 4 million pounds of uranium oxide between 1979 and 1984.

According to a January 2023 preliminary economic assessment, the site hosts a measured and indicated resource of 4.64 million pounds of uranium oxide equivalent from 811,000 metric tons of ore at an average grade of 0.29 percent, as well as an inferred resource of 8.41 million pounds of uranium oxide equivalent from 1.84 million metric tons at 0.24 percent.

The report also showed an inferred vanadium oxide resource of 54.4 million pounds from 2.65 million metric tons of ore at an average grade of 1.03 percent.

Shares in Anfield gained this week after it announced on Tuesday that the US Department of the Interior selected Velvet-Wood for expedited environmental permitting as part of the government’s FAST-41 initiative to bolster domestic mineral production. Under the expedited process, the Bureau of Land Management has been directed to complete its review of the project within 14 days.

3. Roscan Gold (TSXV:ROS)

Weekly gain: 44.44 percent
Market cap: C$30 million
Share price: C$0.065

Roscan Gold is an exploration and development company working to advance its Kandiole gold project in the Republic of Mali. The company’s permits cover an area of 288.8 square kilometers and host several mineralized targets.

Kandiole hosts an indicated mineral resource of 1.02 million ounces of gold from 27.4 million metric tons at an average grade of 1.2 grams per metric ton (g/t) gold, and an inferred resource of 200,000 ounces from 5.2 million metric tons at 1.2 g/t.

Roscan has focused on de-risking its project as it moves towards obtaining a mining permit, and spent much of 2024 raising funds. The latest funding announcement came in October 2024 when Roscan closed a non-brokered private placement for gross proceeds of C$2 million. At the time, the company said it would use the funds for general working capital and exploration and development at the Kandiole project.

The most recent news release from Roscan came on March 10 when it welcomed an announcement by the Government of Mali that lifts the partial suspension of the processing of mining license applications. The company said the decision marks a milestone for de-risking the Kandiole gold project.

License applications in Mali had been suspended since 2022. At the time, the military government, which took power in 2021, said the action was to improve the issuance process and better serve the industry.

4. Baru Gold (TSXV:BARU)

Weekly gain: 44.44 percent
Market cap: C$19.55 million
Share price: C$0.065

Developer Baru Gold is advancing its Sangihe gold project in Indonesia. The company holds a 70 percent stake in the 42,000 hectare project, with the remaining 30 percent interest held by three Indonesia-based companies.

Baru Gold is progressing toward approval of its production operations plan, which was redesigned due to the significant macroeconomic shift and increase in the gold price since its last resource estimate in May 2017.

On February 14, the company published a technical report with an updated resource estimate. The resource estimate demonstrates an indicated resource of 114,000 ounces of gold and 1.93 million ounces of silver from 3.15 million metric tons of ore with grades of 1.12 g/t gold and 19.4 g/t silver. The project also hosts an inferred resource of 91,000 ounces of gold and 1.08 million ounces of silver from 2.3 million metric tons of ore with grades of 1.22 g/t gold and 14.5 g/t silver.

The update marks a significant step toward government approval for production operations status, with the only remaining requirement being the payment of taxes.

On Thursday, Baru announced it entered into an arm’s length binding preliminary collaboration agreement with Quantum Metal Thailand, a gold ecommerce platform, which would invest up to US$100 million in Baru as part of an offtake and funding collaboration. Baru said the funding would be used to enhance its gold production and refining capacity to a purity rate of 99.99 percent.

Under the terms of the potential deal, funding would be broken down into an initial investment worth up to US$30 million, and subsequent tranches worth US$10 million. Baru will repay the amount with refined gold based on the London Bullion Market Association gold price, with the first tranche discounted at 30 percent and remaining tranches discounted at 20 percent.

Once production commences, Quantum will also receive 20 percent of the company’s monthly refined gold production until the investment is fully repaid.

5. Talon Metals (TSX:TLO)

Weekly gain: 42.86 percent

Market cap: C$140.21 million
Share price: C$0.15

Talon Metals is an exploration and development company working to advance its Tamarack North polymetallic project in Minnesota, US. Talon owns a 51 percent stake in the 31,000 acre project, with Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) owning the remaining 49 percent.

A technical report released in November 2022 reported a total indicated resource of 8.56 million metric tons of ore at an average grade of 1.73 percent nickel and 0.92 percent copper, 0.05 percent cobalt, 0.34 g/t platinum, 0.21 g/t palladium and 0.15 g/t gold.

Talon has been working through 2024 and 2025 to expand the resource at the project. On May 1 the company announced the highest grade intercept encountered at Tamarack: 8.25 meters at 12.62 percent nickel, 13.88 percent copper, 0.12 percent cobalt, 4.7 g/t palladium, 7.08 g/t platinum, 6.17 g/t gold and 44.31 g/t silver.

The company followed up with further significant news on Monday (May 12), announcing a drill hole encountered 34.9 meters of cumulative massive nickel mineralization over a total length of 47.33 meters.

Brian Goldner, Talon’s chief exploration and operations officer, commented, “In my 19 years working on the Tamarack Project, I’ve never seen anything like this. This 34.9 meter intercept of high-grade massive sulphide isn’t just the longest ever recorded at Tamarack, it’s a defining moment.”

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

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.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

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As the global energy transition accelerates, the mining sector is increasingly navigating a complex landscape of shifting demand, volatile prices and growing sustainability priorities.

During an S&P Global webinar on the state of the mining industry in Q1, analysts highlighted renewable power development and mine-site electrification as key sustainability drivers shaping the future of resource extraction.

Copper, a key component of the energy shift, remains a focal point, with average prices holding at US$9,412 per metric ton in the first quarter, though forecasts suggest a slight decline to US$9,317 by year end.

Meanwhile, the battery metals space continues to feel the squeeze.

Lithium prices slumped to US$9,000 per metric ton, leaving an estimated 27 percent of producers operating at a loss, according to S&P. Cobalt held above US$14 per pound, bolstered by the Democratic Republic of Congo’s export ban.

Nickel, driven by surging Indonesian output, is forecast to fall to US$15,730 per metric ton.

The webinar also touched on broader sector dynamics, including ongoing trade tensions, subdued financing activity and an uptick in M&A as companies reposition for long-term growth amid tightening supply and geopolitical uncertainty.

Copper supply disrupted, green demand bolstered

As mentioned, copper prices are expected to dip slightly to US$9,317 by year end.

While positive drivers like a weaker US dollar and resilient Chinese demand are offering some support, refined production cuts, bad weather in Chile and smelter challenges have added pressure to the global supply chain.

Notably, production disruptions in Chile — including a national blackout and Glencore’s (LSE:GLEN,OTC Pink:GLCNF) partial suspension at Altonorte — along with declining US consumer confidence, have led S&P to revise its US refined copper demand growth forecast down to just 1.5 percent for the year. Meanwhile, tightness in the concentrate market has sent spot treatment charges to record lows, amplifying strain on smelter margins.

“(A) developing demand driver for copper is the increasing demand from the green energy transition,’ said Naditha Manubag, associate research analyst, metals and mining research, at S&P Global Commodity Insights.

‘Despite the intensifying US-China trade disputes, copper demand in China has shown resilience, with copper concentrate imports growing by 10 percent in Q1 and cathode imports increasing month-over-month.’

Lithium, cobalt and graphite markets under pressure

In contrast, the battery metals space continues to reel from oversupply and weak pricing. Lithium carbonate CIF Asia dropped to just US$9,000, the lowest level seen since 2021.

“Overcapacity will continue to limit lithium prices until the next decade,” said Manubag. “With this, we have lowered the lithium carbonate CIF Asia price in 2025 to US$9,031. And using this price assumption, 27 percent of lithium operations will be loss-making on a total cash operating margin basis.”

Prices are expected to dip further to US$8,600 in Q3 before a modest recovery in 2027.

The cobalt market, while supported by the Democratic Republic of Congo’s export ban, is forecast to remain in surplus through 2025, though prices are likely to hold above US$14.

“The Democratic Republic of Congo accounts for over 70 percent of global cobalt mine output, yet its ongoing export ban is unlikely to trigger significant production cuts,” the analyst said, adding that the stockpiled supply is expected to re-enter the market once the ban lifts — supporting a sustained price recovery.

Cobalt hydroxide prices have surged the most since the ban began due to tightening supply, and cobalt prices are expected to remain above US$14 through 2025. However, elevated prices may accelerate the trend toward substituting cobalt in battery chemistries as the lithium market braces for further cuts.

Meanwhile, graphite prices are under pressure despite tightening Chinese export controls.

China’s December export ban on key critical minerals, including gallium and germanium, has prompted tighter scrutiny on graphite exports to the US. With China supplying roughly half of America’s antimony and natural graphite imports, pressure on prices has mounted as Tanzanian supply grows, but export options narrow.

Despite current oversupply, a structural deficit is forecast in the medium to long term.

“Spot prices for natural graphite have come under further pressure,” Manubag said. “(US President Donald) Trump’s Section 232 probes import dependence on processed graphite, supporting US anode projects.”

As such, S&P sees US capacity growing to 236,000 metric tons in 2028.

“We maintain our view that continued high feedstock cost on the synthetic anode supply chain could support fine flake and spherical graphite prices,’ the expert added.

Gold leads Q1 mining M&A

M&A in the mining sector slowed sharply in Q1, with both the number and value of deals declining.

Although gold transactions accounted for 86 percent of total M&A value, overall gold deal value dropped 62 percent quarter-over-quarter to US$4.02 billion. In the lead for the period was Equinox Gold’s (TSX:EQX,NYSEAMERICAN:EQX) planned US$1.87 billion takeover of Calibre Mining (TSX:CXB,OTCQX:CXBMF).

Nickel followed, with MMG’s (OTC Pink:MMLTF,HKEX:1208) US$500 million acquisition of Anglo American’s (LSE:AAL,OTCQX:AAUKF) nickel business, including producing assets like Barro Alto and Codemin.

In copper, the top transaction was Hudbay Minerals’ (TSX:HBM,NYSE:HBM) purchase of Mitsubishi Materials’ (OTC Pink:MIMTF,TSE:5711) remaining stake in the Copper Mountain mine for US$44.3 million.

“Gold deals are expected to continue leading M&A activity as the metal maintains its safe-haven appeal amid global trade uncertainty,” Gian Seblos, associate research analyst, metals and mining research, at S&P Global Commodity Insights, said during this week’s webinar. He added, “Meanwhile, cash-rich producers may drive consolidation in base metals, either to secure future output or diversify amid shifting trade dynamics.”

Capital raised by mining companies surged to US$11.92 billion — doubling from the previous quarter and marking the second consecutive quarter of growth following the US Federal Reserve’s December rate cut. Debt financing jumped to 65 percent of total capital raised, up from 35 percent previously, fueled by a surge in senior debt offerings.

Major mining companies led the charge, raising US$7.57 billion — nearly six times more than Q4 2024.

Juniors saw a 25 percent increase, raising US$3.48 billion. Gold companies captured half of the funding, followed by those focused on base metals (33 percent) and specialty commodities (17 percent).

Regionally, Asia and the Middle East posted a 331 percent gain to US$1.58 billion, primarily driven by Saudi Arabia’s Ma’aden through two non-convertible bond offerings worth US$1.25 billion.

Africa and Europe also saw strong growth, while Australia, Canada and the US experienced declines.

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

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Coinbase Global (NASDAQ:COIN), one of the world’s largest crypto exchanges, has announced an investment in Stablecorp to bring QCAD — a Canadian dollar-denominated stablecoin — to Canadians.

The announcement was made in Toronto at the Blockchain Futurist Conference, where it was presented during a fireside chat by Lucas Matheson, Canada country director at Coinbase, and Alex McDougall, CEO of Stablecorp.

The pair positioned the launch as part of a global shift toward stablecoin integration and digital financial innovation, underscoring Canada’s unique opportunity to carve out a leadership role in the emerging digital currency ecosystem.

‘Stablecoins are probably the topic to draw this year in crypto, for a lot of good reasons,” said Matheson.

“When you look at volume around the world for cryptocurrencies, stablecoins currently account for about 70 percent of all volume in cryptocurrency, while maintaining about 10 percent of the market cap.”

Matheson pointed out that governments around the world, from the US to the UK, are moving quickly to legislate and define these assets as legitimate payment instruments. He stressed that Canada needs to be part of that conversation.

Stablecorp’s QCAD is not new to the scene. McDougall noted that the company has been working since 2020 to create a homegrown stablecoin that reflects Canada’s economic standing. Despite the US dollar’s dominance in the global stablecoin market, McDougall believes the Canadian dollar has a compelling case to make.

“The Canadian dollar trades over C$400 billion a day in foreign exchange. Over C$3.6 billion of goods cross the American border, back and forth every day,’ he told audience members. “There’s over C$316 billion in international central bank reserve currencies, and that’s up to C$65 billion over 2024 — the Canadian dollar quietly kicks ass.’

The Coinbase-Stablecorp partnership aims to fill this void by integrating QCAD into use cases ranging from simple peer-to-peer transactions to institutional finance and global trade. Matheson explained that Coinbase’s backing will bring the reach, trust and compliance capabilities needed to scale QCAD nationally and internationally.

Their discourse also revolved around real-world applications. McDougall described QCAD as a solution that dramatically lowers costs and increases speed in cross-border and domestic payments.

He pointed to practical examples already being piloted, such as Brazilian students paying Canadian tuition fees using QCAD, and Filipino workers receiving remittances via seamless FX-to-stablecoin pipelines.

In both cases, traditional banking systems are circumvented in favor of instant, lower-fee digital rails.

The stablecoin, McDougall added, also opens new doors for small business financing. Canadian businesses will soon be able to draw international lines of credit that settle in QCAD in real-time, with FX baked into transactions, a feature traditional banks currently do not offer. He also highlighted use cases in global telecommunications billing, where cross-border carrier settlements, a US$5 billion annual burden, could be simplified via programmatic stablecoin payments.

Even more futuristically, he envisions QCAD being critical infrastructure for Canada’s artificial intelligence ambitions.

“From just simple everyday things like sending money around and taking that power back, all the way to having these fully automated global webs of commerce — stablecoins are the building blocks for every single one of those,” he said.

Despite the momentum, both Matheson and McDougall acknowledged that Canada’s regulatory environment has not kept pace with innovation. Unlike jurisdictions such as the US and UK, where stablecoins are being defined through legislation as distinct asset classes, often as e-money, Canada remains entangled in a fragmented regulatory landscape.

“Our challenge is that we have 13 different provincial securities regulators, each approaching crypto through the lens of securities law,” said Matheson. “That’s led to a square peg, round hole problem.”

The lack of a unified federal framework has made it difficult for firms like Stablecorp to fully operationalize a compliant and scalable stablecoin solution. However, the panelists hope this may be changing with a cabinet shakeup.

With the QCAD rollout and further announcements expected in the coming weeks, the pressure now shifts to Ottawa to match private sector ambition with public policy action.

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

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Here’s a quick recap of the crypto landscape for Friday (May 16) as of 4:00 p.m. UTC.

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

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$104,223 as markets closed, up 1 percent in 24 hours. The day’s range for the cryptocurrency has seen a low of US$102,935 and a high of US$104,291.

Bitcoin performance, May 16, 2025.

Chart via TradingView.

Ethereum (ETH) finished the trading day at US$2,592.45, a 1.2 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$2,527.33 and saw a daily high of US$2,631.38.

Altcoin price update

  • Solana (SOL) closed at US$171.79, down 0.3 percent over 24 hours. SOL experienced a low of US$168 and a high of US$173.98.
  • XRP is trading at US$2.42, reflecting a slight 1.5 percent decrease over 24 hours. The cryptocurrency reached a daily low of US$2.37 and a high of US$2.50.
  • Sui (SUI) is priced at US$3.87, showing an increaseof 2.0 percent over the past 24 hours. It achieved a daily low of US$3.79 and a high of US$3.94.
  • Cardano (ADA) is trading at US$0.7788, up 0.9 percent over the past 24 hours. Its lowest price of the day was US$0.755, and it reached a high of US$0.7905.

Today’s crypto news to know

Coinbase faces US$400 million fallout after major cyber attack

Coinbase Global (NASDAQ:COIN) disclosed that a sophisticated cyber attack has compromised a portion of its customer base and could cost the firm up to US$400 million.

Hackers reportedly gained access to internal systems by paying off employees and contractors, allowing them to impersonate Coinbase and scam users out of their crypto.

Less than 1 percent of customer data was breached, but the attackers demanded a US$20 million ransom—which Coinbase flatly refused to pay. Instead, the company has pledged to fully reimburse affected users and established a US$20 million reward for information leading to the perpetrators’ arrest.

the timing of the attack is significant, coming just days before Coinbase is set to join the S&P 500 (INDEXSP:.INX), a milestone for mainstream crypto acceptance.

Ripple’s US$50 million SEC settlement rejected by federal judge

A US federal judge has rejected a US$50 million settlement deal jointly proposed by Ripple Labs and the US Securities and Exchange Commission (SEC), calling the motion ‘procedurally improper’ and outside her jurisdiction.

The dispute stems from the SEC’s longstanding lawsuit accusing Ripple of conducting unregistered securities sales through XRP, a case now under appeal. Judge Analisa Torres said that because the litigation is at the appellate stage, the district court has no authority to modify the previous judgment.

Ripple’s chief legal officer responded by emphasizing that the ruling doesn’t affect the company’s earlier court wins and that both sides remain aligned on resolving the issue.

Bitget becomes world’s third top crypto exchange by trading volume

Bitget has officially surged into third place among global crypto exchanges, reporting a stunning US$757.6 billion in futures trading volume and US$68.6 billion in spot volume for April 2025.

The Seychelles-based platform has made a name for itself through features like copy trading, which allows users to mimic high-performing traders in real time. Bitget’s April performance stood out despite a broader market correction, expanding its market share to 7.2 percent and pushing its user base above 120 million.

The exchange’s rise signals increasing demand for advanced crypto trading products beyond the traditional buy-and-hold strategy.

Fifth Third Bank eyes expansion into crypto after regulatory green light

After five years of quietly exploring the crypto space, Fifth Third Bank now says it’s ready to expand its offerings amid friendlier US regulations. The Cincinnati-based lender, which holds over US$200 billion in assets, has been working with crypto firms since 2020 but delayed larger moves until clearer guidance from regulators arrived.

According to Chief Strategy Officer Ben Hoffman, the bank is now exploring stablecoin-powered cross-border payments, crypto payroll services and digital asset custody. Recent signals from the Office of the Comptroller of the Currency and the Trump administration’s pro-crypto stance have given institutions more confidence to act.

Fifth Third has formed internal teams across its business lines to integrate blockchain-based financial products responsibly. With mainstream banks finally stepping into crypto with more certainty, a new chapter of institutional adoption appears to be underway.

US lawmakers debate GENIUS Act as stablecoin regulation nears critical juncture

The GENIUS Act, a bipartisan bill aimed at establishing a regulatory framework for US dollar-backed stablecoins, is under intense scrutiny as lawmakers grapple with its potential implications.

While the legislation seeks to provide clarity and oversight in the burgeoning stablecoin market, recent developments have introduced partisan divisions and raised concerns over consumer protections and financial stability.

Initially enjoying bipartisan support, the GENIUS Act has encountered resistance from Senate Democrats following revelations about former President Donald Trump’s involvement in digital asset ventures.

Lawmakers are now advocating for amendments to enhance consumer protections, enforce stricter financial controls and address potential ethical issues, particularly regarding the participation of large tech companies like Meta in the stablecoin space.

Despite these challenges, Republican proponents of the bill are pushing for its approval by Memorial Day (May 26), emphasizing the need for regulatory clarity to foster innovation and maintain the US dollar’s dominance in the digital economy.

Mastercard teams up with MoonPay to enable stablecoin payments worldwide

Mastercard (NYSE:MA) has announced a major new partnership with crypto payment processor MoonPay to bring stablecoin-based payments to more than 150 million global merchants.

The collaboration leverages Iron, a blockchain infrastructure company recently acquired by MoonPay, to enable real-time spending of stablecoins at any location accepting Mastercard.

The partnership is geared toward gig workers, digital creators and international businesses looking to send or receive money in a faster, cheaper and more flexible way. MoonPay says it already works with over 500 crypto platforms and can now expand its reach to over 100 million active users

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

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Nvidia said it won’t be sending graphics processing unit plans to China following a report that the artificial intelligence chipmaker is working on a research and development center in Shanghai in light of recent U.S. export curbs.

“We are not sending any GPU designs to China to be modified to comply with export controls,” a spokesperson said in a statement to CNBC.

The Financial Times was the first to report the news, citing two sources familiar with the matter. CEO Jensen Huang discussed the potential new center with Shanghai’s mayor, Gong Zheng, during a visit last month, the FT reported.

The center will assess ways to meet U.S. restrictions while catering to the local market, although production and design will continue outside China, according to the report.

AI chipmakers such as Nvidia have been hit with major China roadblocks since 2022 as the U.S. began cracking down on sending advanced chips to China because of concerns of possible military use.

Last week, the Trump administration said it would replace restrictions put in place under President Joe Biden with a “much simpler rule that unleashes American innovation and ensures American AI dominance.” Nvidia said last month that it would take a $5.5 billion charge tied to selling its H20 GPUs in China and other countries.

Huang has previously commented on the significance of China, which is one of the company’s major market after the U.S., Singapore and Taiwan. He told CNBC this month that getting shut out of the world second-largest economy would be a “tremendous loss,” estimating that China’s AI market could hit $50 billion over the next two to three years.

“We just have to stay agile,” Huang told CNBC’s Jon Fortt, in an interview alongside ServiceNow CEO Bill McDermott. “Whatever the policies are of the government, whatever is in the best interest of our country, we’ll support,” he added.

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