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Secretary of War Pete Hegseth chastised the press following media reports that he signed off on a second strike against an alleged drug boat after the first one left survivors. 

The Trump administration has come under renewed scrutiny for its strikes in the Caribbean targeting alleged drug smugglers, after the Washington Post reported on Friday that Hegseth verbally ordered everyone onboard the alleged drug boat to be killed in a Sept. 2 operation. The Post reported that a second strike was conducted to take out the remaining survivors on the boat. 

On Monday, the White House confirmed that a second strike had occurred, but disputed that Hegseth ever gave an initial order to ensure that everyone on board was killed, when asked specifically about Hegseth’s instructions.

Hegseth said that he watched the first strike live, but did not see any survivors at that time amid the fire and the smoke — and blasted the press for their reporting.

‘This is called the fog of war. This is what you in the press don’t understand,’ Hegseth told reporters at a Cabinet meeting on Tuesday. ‘You sit in your air-conditioned offices or up on Capitol Hill and you nit pick, and you plant fake stories in the Washington Post about ‘kill everybody’ phrases on anonymous sources not based in anything, not based in any truth at all. And then you want to throw out really irresponsible terms about American heroes, about the judgment that they made.’ 

Hegseth said that after watching the first strike, he left for a meeting and later learned of the second strike. The White House said Monday that Hegseth had authorized Adm. Frank ‘Mitch’ Bradley to conduct the strikes, and that Bradley was the one who ordered and directed the second one. 

At the time of the Sept. 2 strike, Bradley was serving as the commander of Joint Special Operations Command, which falls under U.S. Special Operations Command. He is now the head of U.S. Special Operations Command.

According to Hegseth, carrying out a subsequent strike on the alleged drug boat was the right call. 

‘Admiral Bradley made the correct decision to ultimately sink the boat and eliminate the threat,’ Hegseth said Tuesday. 

Meanwhile, reports of the second strike have attracted even more scrutiny from lawmakers on both sides of the aisle on Capitol Hill and calls for greater oversight, amid questions about the strikes’ legality. 

‘This committee is committed to providing rigorous oversight of the Department of Defense’s military operations in the Caribbean,’ Reps. Mike Rogers, R-Ala., and Adam Smith, D-Wash., who lead the House Armed Services Committee, said in a statement on Saturday. ‘We take seriously the reports of follow-on strikes on boats alleged to be ferrying narcotics in the SOUTHCOM region and are taking bipartisan action to gather a full accounting of the operation in question.’

Hegseth said Tuesday that although there has been a pause in strikes in the Caribbean because alleged drug boats are becoming harder to find, the Trump administration’s campaign against the influx of drugs will continue. 

‘We’ve only just begun striking narco-boats and putting narco-terrorists at the bottom of the ocean because they’ve been poisoning the American people,’ Hegseth said. 

The Trump administration has carried out more than 20 strikes against alleged drug boats in Latin American waters, and has bolstered its military presence in the Caribbean to align with Trump’s goal to crack down on the influx of drugs into the U.S.

This post appeared first on FOX NEWS

The National Archives and Records Administration (NARA) is seeking to reform the funding structure for presidential libraries in an effort to reduce reliance on taxpayer funding for operational costs and allow NARA to focus more on preserving and providing access to records. 

Fourteen presidential libraries fall under the National Archives system, and that number is expected to jump to 16 for presidential libraries dedicated to Trump and former President Joe Biden. 

While NARA and the presidential foundations have their own individual agreements outlining cost-sharing burdens for these presidential libraries, taxpayer funding is going toward maintenance costs, including mowing lawns, painting walls and cleaning toilets at nearly all these buildings, according to NARA. 

Additionally, the government contracting process for quick repairs like broken door hinges filters through an approval process in Washington and can take weeks or months to be addressed, the agency said. 

As a result, NARA is in the process of negotiating with each presidential foundation on an individual basis so they can take greater ownership of the operational responsibilities for their specific library, Jim Byron, senior advisor to the archivist, told Fox News Digital.

‘Despite decades of well-intentioned oversight and stewardship of America’s presidential libraries by the National Archives, reality now dictates that operational changes can and should be made to ensure the long-term health of these American treasures,’ Byron said in a statement to Fox News Digital Monday. 

‘Presidential libraries have grown in scope and purpose, and with that growth — and with anticipated future additions to the system — comes increased expenditures to be borne by the American taxpayers.’ 

NARA spends $91 million annually on presidential libraries from appropriations, and the deferred maintenance costs across the entire library system total roughly $123 million. 

Under current negotiations that launched in the spring between NARA and the presidential foundations, shifting some of the costs to the presidential foundations is expected to save NARA $27 million. These funds will then be shifted toward NARA’s primary mission of preserving and sharing records, including digitizing and releasing more files, Byron said.

In the event that changes aren’t made to shift more operational costs to presidential foundations, NARA’s ability to focus on its mission will be jeopardized, according to Byron. 

‘The alternative is to do nothing and allow NARA’s appropriations to go to lawn care and toilet cleaning at the expense of FOIA processing, to close all presidential libraries when the government shuts down, to allow a deferred maintenance backlog to grow and to regret that presidential library structures were not addressed,’ Byron said. ‘The National Archives is committed to making sure that doesn’t happen while delivering for the American people.’

Luke Nichter, a history professor at Chapman University who said he averages 100 days annually for research and interviews with former government officials, told Fox News Digital that, given the constraints of the federal budget, it’s necessary for presidential foundations to shoulder more of the cost for upkeep of these presidential libraries.

‘It now takes about as much money to build a presidential library as it does to run for president — about a billion dollars,’ Nichter said in an email to Fox News Digital Tuesday. ‘The American taxpayer should not bear that. The administration deserves credit for starting an important conversation about the future of these cherished institutions.

‘In the future, the National Archives will have to focus more closely on what it does well — the preservation of federal and presidential records — and leave other functions to the presidential foundations.’ 

This most recent effort aligns with other initiatives underway at the National Archives aimed at redirecting efforts to the agency’s mission, including working with other agencies to release the John F. Kennedy, Martin Luther King Jr., and Amelia Earhart files. 

The presidential library structure varies, and NARA and each presidential foundation have their own separate public-private agreements. Typically, though, private funds are used to create a presidential library, which NARA then oversees using federal funding.

But this isn’t always the case. For example, the Obama Foundation is an entirely private entity and did not choose to construct a library for NARA to store documents, instead opting to build a private presidential center and private museum. As a result, NARA digitized and stored Obama presidential records at an existing NARA site and still oversees preserving and providing access to those records. 

Previous efforts to revamp the funding partnership between government and private entities successfully occurred in 2018, when NARA coordinated with each presidential foundation to discuss which operations it could take on amid increased budget constraints. Ultimately, those negotiations led to NARA and the George W. Bush Foundation securing a new deal splitting operational costs. 

This post appeared first on FOX NEWS

Secretary of War Pete Hegseth chastised the press following media reports that he signed off on a second strike against an alleged drug boat after the first one left survivors. 

The Trump administration has come under renewed scrutiny for its strikes in the Caribbean targeting alleged drug smugglers, after the Washington Post reported on Friday that Hegseth verbally ordered everyone onboard the alleged drug boat to be killed in a Sept. 2 operation. The Post reported that a second strike was conducted to take out the remaining survivors on the boat. 

On Monday, the White House confirmed that a second strike had occurred, but disputed that Hegseth ever gave an initial order to ensure that everyone on board was killed, when asked specifically about Hegseth’s instructions.

Hegseth said that he watched the first strike live, but did not see any survivors at that time amid the fire and the smoke — and blasted the press for their reporting.

‘This is called the fog of war. This is what you in the press don’t understand,’ Hegseth told reporters at a Cabinet meeting on Tuesday. ‘You sit in your air-conditioned offices or up on Capitol Hill and you nit pick, and you plant fake stories in the Washington Post about ‘kill everybody’ phrases on anonymous sources not based in anything, not based in any truth at all. And then you want to throw out really irresponsible terms about American heroes, about the judgment that they made.’ 

Hegseth said that after watching the first strike, he left for a meeting and later learned of the second strike. The White House said Monday that Hegseth had authorized Adm. Frank ‘Mitch’ Bradley to conduct the strikes, and that Bradley was the one who ordered and directed the second one. 

At the time of the Sept. 2 strike, Bradley was serving as the commander of Joint Special Operations Command, which falls under U.S. Special Operations Command. He is now the head of U.S. Special Operations Command.

According to Hegseth, carrying out a subsequent strike on the alleged drug boat was the right call. 

‘Admiral Bradley made the correct decision to ultimately sink the boat and eliminate the threat,’ Hegseth said Tuesday. 

Meanwhile, reports of the second strike have attracted even more scrutiny from lawmakers on both sides of the aisle on Capitol Hill and calls for greater oversight, amid questions about the strikes’ legality. 

‘This committee is committed to providing rigorous oversight of the Department of Defense’s military operations in the Caribbean,’ Reps. Mike Rogers, R-Ala., and Adam Smith, D-Wash., who lead the House Armed Services Committee, said in a statement on Saturday. ‘We take seriously the reports of follow-on strikes on boats alleged to be ferrying narcotics in the SOUTHCOM region and are taking bipartisan action to gather a full accounting of the operation in question.’

Hegseth said Tuesday that although there has been a pause in strikes in the Caribbean because alleged drug boats are becoming harder to find, the Trump administration’s campaign against the influx of drugs will continue. 

‘We’ve only just begun striking narco-boats and putting narco-terrorists at the bottom of the ocean because they’ve been poisoning the American people,’ Hegseth said. 

The Trump administration has carried out more than 20 strikes against alleged drug boats in Latin American waters, and has bolstered its military presence in the Caribbean to align with Trump’s goal to crack down on the influx of drugs into the U.S.

This post appeared first on FOX NEWS

The Department of Justice (DOJ) on Friday charged five men from across the U.S. with running an online ‘child exploitation enterprise’ called ‘Greggy’s Cult,’ that allegedly used Discord servers to terrorize, blackmail and coerce minors into ‘horrific acts of self-harm.’

The indictment unsealed by federal prosecutors charges five individuals with ‘conspiracy to produce child pornography, conspiracy to receive and distribute child pornography, and conspiracy to communicate interstate threats.’

Hector Bermudez, 29, of Queens, New York; Zachary Dosch, 26, of Albuquerque, New Mexico; Rumaldo Valdez, 22, of Honolulu, Hawaii; David Brilhante, 28, of San Diego, California; and Camden Rodriguez, 22, of Longmont, Colorado, were arrested Tuesday will be arraigned in the Eastern District of New York at a later date, according to the DOJ.

Prosecutors described a ‘nightmarish platform on the internet,’ alleging that ‘Greggy’s Cult’ carried out ‘depraved conduct’ that included ‘repeatedly encouraging victims to kill themselves or encouraging them to insert household objects into their genitals or anus.’

‘These five defendants allegedly targeted vulnerable children and others via online platforms – they exploited, threatened, and harassed them, and encouraged horrific acts of self-harm,’ FBI director Kash Patel said in a statement. ‘The FBI is sending a message to those individuals involved in criminal activity through violent online networks: you can’t hide in the shadows hovering over a keyboard – we will find and hold accountable those who participate in these illegal and heinous acts.’

The indictment stated that the defendants allegedly engaged in the ‘production and distribution of child sex abuse material’ between January 2020 and January 2021, and also participated in other forms of ‘exploitation and harassment’ of both minors and adults.

According to prosecutors, the defendants and other members of ‘Greggy’s Cult’ met on Discord servers and ‘directed minor victims, who had joined a video call on either Discord or another video conferencing platform, to engage in sexually explicit or other degrading conduct.’

The group is also accused of finding victims on gaming platforms such as Roblox and Counter-Strike: Global Offensive.

The cult members allegedly captured screenshots and screen recordings of the ‘sexually explicit conduct’ before sharing it to other Discord servers and with each other, according to the DOJ.

Attorney General Pam Bondi reacted to the indictment, stating that ‘no child should ever be terrorized or exploited online, and no online platform should give refuge to predators.’

‘The Department of Justice will continue to protect children, support survivors, and hold accountable anyone who preys on the vulnerable – online or offline – with every tool we have,’ Bondi added.

Prosecutors also accused the defendants of extorting their targets, alleging that they tried to frame the adult victims as pedophiles or send malware to minor victims, which was then used as ‘leverage to get the victims to engage in degrading acts on camera.’

The defendants were allegedly able to convince victims to commit acts of ‘degradation,’ including having them be ‘owned’ by a member of the cult to demonstrate loyalty, or writing the names of cult members on their bodies, which prosecutors referred to as ‘fansigning.’

Acting Assistant Attorney General Matthew Galeotti of the DOJ’s Criminal Division said in a statement that the defendants were charged with an ‘unspeakable act of coercing and blackmailing children and adults to engage in self-harm and other degrading acts.’

U.S. Attorney Joseph Nocella Jr. for the Eastern District of New York called the alleged conduct ‘monstrous,’ adding that children were ‘at times driven to the brink of suicide.’

The DOJ stated that ‘Greggy’s Cult’ formed before the emergence of the ‘764’ network, another online child-exploitation group that the FBI has launched an intensified effort to take down.

Members of ‘764’ allegedly use popular online platforms such as Discord, Telegram and Roblox to recruit and manipulate minors.

This post appeared first on FOX NEWS

Keith Weiner, founder and CEO of Monetary Metals, shares his gold and silver outlook.

In his view, all of their drivers remain intact, meaning that current trends are likely to continue in 2026.

‘I don’t think you’re going to go wrong with either,’ Weiner said.

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

This post appeared first on investingnews.com

Rzolv Technologies Inc. (TSXV: RZL) (‘RZOLV’ or the ‘Company’) is pleased to announce the appointment of Mark Orsmond as Chief Financial Officer (‘CFO’), effective December 1, 2025.

Mr. Orsmond is a seasoned Business and Finance executive with more than 25 years of proven success in leading, scaling, and transforming companies into major global enterprises.

Mark has held key positions in the mining sector, including CFO of Minco Mining, VP Corporate Development for Minco Silver, and director of Keegan Resources. He was CFO and Executive Vice President of the ALL-SEA Group of Companies and served as Chief Financial Officer and Executive Vice President of the Corix Group of Companies, one of North America’s leading water infrastructure companies, operating across 30 U.S. states and three Canadian provinces. At Corix, he managed a finance organization of 45 professionals and oversaw a treasury exceeding $1.6 billion.

In recent years, Mark has focused on the rapidly growing EV technology sector, serving as CFO of both Taiga Motors (TSX: TAIG) and ElectraMeccanica (NASDAQ: SOLO).

‘We are pleased to welcome Mark to the RZOLV management team in what will be a seamless transition,’ said Duane Nelson, Chief Executive Officer and Director of RZOLV. ‘Mark’s experience will be invaluable as we continue the research and development and commercialization our water-based reagent for gold and critical-mineral extraction from ores, concentrates, and mine waste streams.’

Effective December 1st, 2025, Grant Bond who has served as Chief Financial Officer since 2022, stepped down from his role as CFO. He will continue to provide assistance to the Company as needed during a transition period in a consulting capacity. The Company thanks Mr. Bond for his long-standing dedication and significant contributions to RZOLV and wishes him all the best in his future endeavors.

RZOLV also retained Departures Capital Inc. (‘DC’) to provide an electronic advertising and marketing campaign for a period of 12 months (1 year) at a cost of $35,000 plus GST pursuant to a service contract dated October 22, 2025. DC is arm’s length to the Company and, to the knowledge of the Company, DC and its principals do not have any present equity interest in the Company’s securities, directly or indirectly, or any right to acquire any equity interest. DC can be reached at #1500 – 409 Granville Street, Vancouver, British Columbia, (519) 590-6985, Email: contact@departurescapital.com.

About Rzolv Technologies Inc.

Rzolv Technologies Inc. is a clean-tech company developing innovative, non-toxic solutions that aim to transform gold extraction and mine-site remediation. The Company’s flagship product, RZOLV, is a proprietary water-based hydrometallurgical formula that provides a sustainable, safe alternative to sodium cyanide for the dissolution and recovery of gold.

Cyanide has been the industry standard for more than a century, yet its toxicity has resulted in bans or restrictions across multiple jurisdictions, along with significant permitting, handling, and ESG challenges for mining companies. RZOLV delivers comparable performance and cost metrics to cyanide while offering a non-toxic, reusable, and environmentally sustainable profile, enabling gold extraction in regions, ore types, and project settings where cyanide use is impractical, prohibited, or socially unacceptable. For more information: https://www.rzolv.com.

Cautionary Note

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

For further information, please contact:

Contact
Duane Nelson
Email: duane@rzolv.com
Phone: (604) 512-8118

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute ‘forward-looking statements.’ Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘intends,’ ‘estimates,’ ‘projects,’ ‘potential’ and similar expressions, or that events or conditions ‘will,’ ‘would,’ ‘may,’ ‘could’ or ‘should’ occur. Forward-looking statements in this news release include, among others, statements relating to the Effective Date that the Common Shares will commence trading under the Company’s new name on the TSXV.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Common Shares will not commence trading under Company’s new name on the TSXV on the Effective Date.

The forward-looking information in this news release is based on management’s reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the Common Shares will commence trading under the Company’s new name on the TSXV on the Effective Date.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276694

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

The gold price saw incredible gains in 2025, rising from US$2,600 per ounce to a record high of over US$4,300.

Gold has moved up in nearly every month of the year, and is on track for its biggest annual gain in 46 years.

Various factors have lent support, including ongoing geopolitical instability in Eastern Europe and the Middle East, US President Donald Trump’s volatile trade policies and the resulting uncertainty in global financial markets. A reversal in the US Federal Reserve’s monetary policy is another major factor that has influenced the gold price this year.

Read on for more on what moved the gold price in each of the year’s four quarters.

Gold price in Q4

The gold price began Q4 at US$3,865.10, but quickly shot to an all-time high of US$4,379.13 on October 17. The surge was fueled by a number of circumstances supportive of safe-haven demand and store of value.

First up was the deepening trade war between the US and China.

In response to US lawmakers demanding broader bans on equipment sales to Chinese chipmakers, President Xi Jinping’s government announced further rare earth element export restrictions. The action spurred Trump to respond by threatening 100 percent tariffs on Chinese goods and export controls on critical software.

Other forces behind gold’s impressive rally in the fourth quarter included the US government shutdown and expectations that the Fed would begin reducing interest rates. At the same time, central banks continued to be net buyers of gold amid increased gold exchange-traded funds (ETF) inflows.

Gold price, Q4 2025.

By October 27, the price of gold had fallen to its quarterly low of US$3,897.30. However, the yellow metal managed to rise once again, closing out the month above the US$4,000 level.

Gold took another run at its record high in the second week of November as the longest US government shutdown in history came to an end and labor market weakness in the US primed expectations of further Fed rate cuts in December. The precious metal reached US$4,242.50 on November 13 before falling back below US$4,100 the next day.

The long-delayed release of September US jobs data on November 20 also placed downward pressure on gold as the numbers were stronger than expected. Nonfarm payrolls increased by 119,000, more than double the 50,000 gain analysts had projected. The report reduced expectations of a Fed rate cut in December.

The price of gold fell as low as US$4,022 the next day. However, the last week of November saw gold on another upward trend as the likelihood of a December Fed rate cut increased, hurting the US dollar.

New York Fed President John Williams said continued weakness in the labor market makes the case for a December rate cut feasible, and Fed Governor Christopher Waller also mentioned a December cut would be appropriate.

While the US Department of Labor will not be releasing an October jobs report due to the government shutdown, a report from job placement firm Challenger, Gray & Christmas shows that US employers shed 153,074 jobs in October. That’s up 183 percent from September 2025 and 175 percent from October 2024.

The latest consumer confidence survey also hasn’t helped, especially since numbers have been down for 10 consecutive months, signaling the potential for a recession. “Consumer confidence tumbled in November to its lowest level since April after moving sideways for several months,” said Dana M. Peterson, chief economist at the Conference Board. “All five components of the overall index flagged or remained weak.”

On November 28, gold broke above the US$4,200 level again. By December 1, it had reached its highest level in six weeks, hitting US$4,263 before settling down to US$4,237 at the end of the trading day.

How did gold perform for the rest of the year?

Gold price in Q1

Gold gained 20 percent in Q1 and closed above US$3,000 for the first time ever on March 18. The precious metal’s strong performance during the period is linked to global uncertainty surrounding Trump’s second term.

Trade policy was at the center of those concerns. Soon after Trump’s inauguration, his administration applied tariffs to imports from Canada and Mexico, only to press pause two days later and delay implementation until March.

The seesaw between on-again, off-again tariff announcements continued throughout the quarter alongside rising tensions in the Middle East and Eastern Europe, adding to market instability and bolstering gold’s safe-haven appeal.

This was highly evident in what the Word Gold Council (WGC) called “strong global inflows” into gold ETFs.

Gold price, Q1 2025.

‘This seems to have been driven by the global political stress and potential tariff impacts. The amounts involved have caused disruption in the real demand and promoted new buyers as well,’

Gold price in Q2

The gold price continued to set new record highs in the second quarter of 2025, breaking through the US$3,500 level briefly on April 21 before closing the quarter slightly lower at US$3,434.40.

Trump’s tariffs were once again the main theme influencing the metal’s gains through the quarter. On April 2, Trump declared “Liberation Day,” an executive order applying tariffs on a broad range of imports coming from most US trade partners. The subsequent global market meltdown caused US debt holders, such as Japan and Canada, to sell US treasuries, which led to higher yields on 10 year bonds. Investors in turn sought the safety of gold.

On the back of those factors, the WGC’s June ETF report shows that ETF flows in the first half of 2025 were the highest semiannual inflows since the first half of 2020.

Gold price, Q2 2025.

Gold price in Q3

Gold set another record during Q3, rising over 15 percent to a quarterly high of US$3,858.41 on September 30.

The substantial rally was attributed to declining yield curves, US monetary policy and the weakening dollar. Gold traditionally has had an inverse relationship to the dollar, a trend that has benefited the metal immensely this year.

In this vein, the 25 basis point rate cut from the Fed on September 17 was a major catalyst. Some analysts believe it’s a signal to investors that the economy may be on the verge of a stagflationary environment.

This is reflected in WGC’s reporting of record ETF inflows to the tune of US$26 billion for the third quarter, with North American markets accounting for US$16.1 billion.

Gold price, Q3 2025.

Investor takeaway

Safe-haven investment demand has been the key driver for gold in 2025.

Investors have sought refuge in precious metal throughout the year as geopolitical tensions, Trump-related trade turmoil and a worsening economic outlook have sparked volatility in the stock market.

In the first three quarters of the year, the WGC reported 1,556 metric tons of gold investment demand, representing US$161 billion in gold assets. That’s only 6 percent below the record reached in the first three quarters of 2020.

Central banks have continued to increase their physical holdings as a potential buffer against a global economic downturn. The most recent data on central bank gold buying from the WGC shows that they added 634 metric tons of gold to their coffers during the first three quarters, with more than one-third of those purchases occurring in Q3.

As the conditions for gold’s current year-long rally become further entrenched, investors can reasonably expect this year’s story to be next year’s story, but with even higher gold prices.

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

This post appeared first on investingnews.com

Here’s a quick recap of the crypto landscape for Monday (December 1) as of 9:00 p.m. UTC.

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

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$85,482.46, down by 6.4 percent over 24 hours.

Bitcoin price performance, December 1, 2025.

Chart via TradingView.

Bitcoin marked its largest single-day decline in a month, continuing a sell-off that started in November.

This sharp downturn was influenced largely by rising expectations of a Bank of Japan rate hike at its December meeting, which triggered a surge in Japanese bond yields, strengthening the yen and prompting global investors to pull capital from risk assets like Bitcoin. This caused liquidations of speculative long positions and created downward price pressure.

However, significant technical support levels lie around US$86,000 to US$79,600, with further downside possible to US$67,700 and major support between US$45,000 and US$70,000 if bearish momentum persists. Holding above roughly US$85,200 is critical to avoid deeper bearish territory.

Farzam Ehsani, CEO of cryptocurrency exchange VALR, added that concerns about MSCI potentially excluding major crypto-holding companies such as Strategy from global indices are adding pressure through expected forced sell-offs, further weakening market structure and liquidity.

“The recovery of the cryptocurrency market, and Bitcoin in particular, after the decline of the last month and a half, will take some time. The main questions at the moment are how the market will close out this year and whether Bitcoin will recover above $100,000 in December.”

Ether (ETH) also experienced a steep decline, priced at US$2,757.79, down by 8.9 percent over 24 hours.

Derivatives data

Derivatives data showed US$10.93 million liquidated in BTC shorts positions over the final four hours of trading, indicating short sellers getting squeezed out as price stabilized rather than accelerating lower.

Open interest edged up 0.50 percent to US$57.63 billion, showing fresh positions entering despite the dip, which often signals sustained trader interest and potential stabilization or rebound setup.

A funding rate of -0.001 percent reflects mild bearish sentiment, common in corrections but not extreme enough to indicate panic selling. BTC’s RSI at 32.58 marks deeply oversold territory, suggesting selling may be nearing a climax and creating conditions for a short-term bounce if support holds.

Altcoin price update

  • XRP (XRP) was priced at US$2.02, down by eight percent over 24 hours.
  • Solana (SOL) was trading at US$124.54, down by 9.3 percent over 24 hours.

Today’s crypto news to know

Bitcoin’s weekend slide wipes out US$637 million in leveraged positions

Bitcoin’s latest downturn over the weekend triggered a wave of liquidations that erased roughly US$637 million across futures markets.

The selloff pushed Bitcoin to an intraday low near US$85,700, extending its monthly decline past 21 percent and dragging Ethereum, XRP, and other majors sharply lower. The slump began as momentum-driven selling forced heavily leveraged longs to unwind, turning a routine correction into a fast, disorderly slide.

Comments from Strategy CEO Phong Le about potentially selling part of the company’s sizable Bitcoin holdings added to jitters, even though prediction markets continue to see a low probability of actual disposals this year.

“We can sell Bitcoin, and we would sell Bitcoin if needed to fund our dividend payments below 1x mNAV,” Le said in a podcast.

The company currently controls 649,870 BTC, which valued at about US$56.26 billion at current prices.

Further, China’s central bank reiterating its hard line against crypto activity further weighed on sentiment heading into the final month of the year.

Goldman Sachs boosts ETF offerings with Innovator Capital acquisition

Goldman Sachs (NYSE:GS) has agreed to buy Innovator Capital Management, a company specializing in defined outcome ETFs, in a deal worth about US$2 billion in cash and stock, according to a Monday announcement.

Defined outcome ETFs are special funds that limit losses or cap gains for investors using options contracts.

Innovator’s US$28 billion in assets and 159 ETFs will significantly enhance Goldman Sachs Asset Management’s ETF portfolio, increasing that bank’s total ETF lineup from US$51 billion to US$79 billion.

The acquisition payment partly depends on Innovator meeting certain performance targets after the deal closes, which were not publicly disclosed. The deal is expected to close in Q2 2026, subject to regulatory approval and other usual conditions.

Goldman Sachs will fully own the Innovator business, integrating its 60-plus employees into Goldman’s teams. However, Innovator’s investment managers and services will remain unchanged.

Tether blasts S&P after fresh downgrade

Tether pushed back forcefully this week after S&P Global cut its assessment of USDT’s peg stability, assigning the stablecoin the lowest score on the agency’s scale.

S&P pointed to weaker reserve quality, shrinking cash-equivalent holdings, and rising exposure to secured loans and Bitcoin as reasons for the downgrade.

The report noted that Tether’s Bitcoin holdings now exceed the cushion meant to absorb volatility, increasing the risk that a sharp price drop could leave the token undercollateralized.

Tether’s leadership dismissed the rating as biased and politically motivated.

‘Some influencers are either bad at math or have the incentive to push our competitors,’ Tether CEO Paolo Ardoino said in a recent post on X.

After the downgrade last week, Ardoino also maintained that ‘the traditional finance propaganda machine is growing worried when any company tries to defy the force of gravity of the broken financial system.’

The downgrade also comes as Tether’s mining affiliate winds down operations in Uruguay after months of unpaid power bills and stalled expansion plans.

Japan prepares 20 percent flat tax on crypto gains

Japan is moving toward a flat 20 percent tax on cryptocurrency gains, a change that would replace the current progressive regime that can push rates above 50 percent for active traders.

Nikkei Asia reported that under the proposal, crypto income would be placed into a separate category similar to equities, with the goal of reducing distortions that discourage trading or push users offshore.

Lawmakers backing the plan say aligning digital assets with other investment products could draw liquidity back to domestic exchanges and boost overall tax receipts.

The reform is expected to be finalized as part of the country’s 2026 tax framework, with revenue split between the national and local governments.

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

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

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Goldgroup Mining (TSXV:GGA, OTC:GGAZF) is a Canadian gold company advancing a portfolio of high-quality producing and development assets in Mexico. With 100 percent ownership of Cerro Prieto, Pinos and the newly acquired San Francisco mine, the company is positioned for disciplined, near-term production growth.

Goldgroup’s strategy is clear: optimize and expand production at its flagship Cerro Prieto mine, advance Pinos toward a production decision, and restart the large-scale San Francisco mine. Together, these projects target over 100,000 ounces of annual production, with additional upside from exploration, resource growth, and future acquisitions.

The company is led by an experienced team with deep expertise in developing and optimizing Mexican mines. Backed by strong financial support from the Calu Group and Luca Mining founders, Goldgroup benefits from a proven track record in value creation through mine development, operational turnarounds, and strategic M&A.

Company Highlights

  • Two operating or near-term production gold assets in Mexico, 100-percent-owned and fully permitted.
  • Cerro Prieto expansion completed, increasing from ~12,500 oz/year to 30,000+ oz/year during 2026 and beyond, including tailings re-processing.
  • Its second asset, Pinos, is a fully permitted high-grade underground development project with historical resources and +90 percent metallurgical recoveries.
  • San Francisco acquisition in progress, a past producer capable of ~40,000 oz/year with significant exploration upside.
  • Aggressive M&A strategy aimed at fast-tracking Goldgroup into the mid-tier producer category with advanced due diligence nearing completion. .
  • Backed by the Calu Group and the founders of Luca Mining, bringing extensive operational and financing expertise in Mexico.

This GoldGroup Mining profile is part of a paid investor education campaign.*

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Corazon Mining Limited (ASX:CZN) (‘Corazon’ or ‘Company’) is pleased to announce it has received firm commitments to raise $1.8 million (before costs) via a placement to sophisticated, institutional and professional investors and Directors (subject to shareholder approval) of 12 million new fully paid ordinary shares in the Company (‘New Shares’) at an issue price of $0.15 per New Share (‘Placement’). The Placement received strong demand and will see the Company well-funded to accelerate exploration activities across its Western Australian Gold Portfolio.

Highlights

  • $1.8 million raised via a strongly supported Placement to new and existing sophisticated and institutional investors at $0.15 per share.
  • Funds to be used to accelerate the Company’s WA Gold strategy including the maiden drill program at the Feather Cap and Two Pools Gold Projects, following the successful granting of key exploration tenements at Two Pools.
  • Corazon Directors have committed to subscribe for 500,000 New Shares ($75,000) in the Placement, subject to shareholder approval.
  • Strong pipeline of news flow planned for CY2026, with maiden drill program at Two Pools planned for early Q1 to confirm high-grade historical results, subject to completion of heritage surveys.

Corazon Mining Ltd Managing Director, Simon Coyle, commented: “We are extremely pleased with the strong support received from new and existing investors. This funding puts Corazon in a strong position to fast-track on- the-ground activities at our high-priority WA gold projects, particularly the Two Pools Gold Project, where preparations for our maiden drill program are well underway. We look forward to commencing drilling in early 202c to test the significant gold potential of this area.”

Use of Funds

Funds raised from the Placement will primarily be used to accelerate the Company’s strategic WA gold strategy. Following the successful granting of two core tenements at the Company’s Two Pools Gold Project (E52/4460 and E52/4468)1, Corazon is well positioned to fast-track on-the-ground exploration.

Preparations for the maiden drill program at Two Pools are currently being finalised, with a diamond drill program expected to commence in early 2026, subject to completion of heritage surveys. This initial program will aim to confirm high-grade historical results and provide Corazon with critical information to inform the Company’s geological modelling and future exploration activities.

Click here for the full ASX Release

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