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Prismo Metals

Investor Insight

Prismo Metals presents a compelling investment opportunity with its strategic focus on high-grade precious and base metal exploration in Mexico and Arizona, leveraging advanced technology and maximizing shareholder value through targeted asset development.

Overview

Mexico’s Sinaloa state hosts several prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s (TSX:USA) Cosalá operations and Kootenay Silver’s (TSXV:KTN) Copalito silver-gold project. Between 2012 and 2019, gold production at the El Gallo mine alone totaled 295,000 ounces (oz) and silver production peaked at 142,000 oz. At the Panuco project, Vizsla Silver (TSXV:VZLA) has an indicated resource of 9.5 million tons at grades of 289 g/t silver, 2.41 g/t gold, 0.27 percent lead and 0.84 percent zinc for 155.8 Moz silver equivalent.

Prismo Metals (CSE:PRIZ,OTCQB:PMOMF, FSE:7KU) has made a strategic move to join the list of successful explorers in this region. The company’s leadership team has decades of experience in the Mexican precious metals industry. Director, president, CEO and co-founder Dr. Craig Gibson has been an exploration consultant since 1998 and a director of Beyond Minerals (CSE:BY) Garibaldi Resources (TSXV:GGI).

Prismo Metals has three current exploration projects: Palos Verdes, Los Pavitos and Hot Breccia. The Palos Verdes property covers 22.77 hectares within the historic Panuco-Copala silver-gold district in Sinaloa, well-known for its numerous veins with historical production. While much of the district has been consolidated by Vizsla Resources, the Palos Verdes project is located near the district’s under-explored northeastern limit.

On January 9, 2023, Vizsla Resources acquired aright of first refusal to purchase the Palos Verdes project through a strategic investment agreement with Prismo Metals. Vizsla’s strategic investment consists of a cash payment of $500,000 and the issuance of one million common shares of Vizsla to Prismo. Pursuant to the strategic investment, the two companies formed a technical committee for district-scale exploration of the Panuco silver-gold district consisting of Drs. Gibson and Megaw along with Dr. Jesus Velador, vice president of exploration for Vizsla.

Prismo Metals’ Palos Verdes property includes 700 meters of strike length along the Palos Verdes vein, which has been explored for 250 meters with findings yielding as much as 6.7 grams per ton (g/t) gold and 544 g/t silver from surface and underground sampling. A second vein system may be reflected in a northwest striking alteration zone, offering an additional high-grade exploration target on the property.

In May 2019, the company and ProDeMin entered an option agreement in which Prismo may acquire a 75-percent interest in the Palos Verdes property, and later entered into an agreement to acquire the remaining 25 percent of the property from the original owner. The company conducted a 2,100-meter drill program at Palos Verdes in 2022, designed to test the Palos Verdes vein and a structural intersection with a second vein at depths where it is believed that potential for a large ore shoot is present, similar to the drilling accomplished by Vizsla Silver on their adjacent land package.

Prismo conducted a 15 hole, 2,923-meter drilling program at Palos Verdes in 2023, with the best result being 11,520 silver equivalent (102 g/t gold and 3,100 g/t silver) over 0.5 meters downhole. An alteration study and rock chip sampling program were also conducted and provide evidence that additional mineralization may occur in previously unexplored areas.

The Los Pavitos project is located in the Alamos region of southern Sonora, a well-mineralized area that hosts several active exploration and mining projects. The project consists of one concession covering 5,289 hectares. Early sampling and reconnaissance work has been carried out by previous companies, including Minera Cascabel, and show the presence of high-grade gold assays in at least two target areas.

In 2022 Prismo Metals signed a formal access agreement with Francisco Villa Ejido, the surface owner of the Los Pavitos Project to allow for exploration work and drilling, and completed a mapping, sampling and trenching program in 2023. Thus work paved the way for a first ever drill program at the project in 2023, consisting of 2,370 meters in 25 holes with excellent results.

Prismo acquired the right to earn a 75 percent interest in the Hot Breccia property in early 2023. Hot Breccia lies in the heart of the world-class Arizona copper belt and has historical drilling indicating the potential for a large copper mineralized system.

An airborne Z‐tipper axis electromagnetic (ZTEM) geophysical survey was completed at Hot Breccia. Prismo received assay results for the first batch of samples taken at the project indicating the presence of not only copper mineralization but also gold mineralization associated with gossanous veins and shear zones.

In 2025, Prismo Metals has signed option agreements to acquire100 percent of the historic Silver King and Ripsey mines in Arizona’s prolific Copper Belt, near its flagship Hot Breccia project. Silver King, discovered in 1875, produced nearly 6 million ounces of silver at grades up to 61 oz/t, with later sampling returning up to 644 oz/t silver and 15 g/t gold, indicating high-grade potential and possible antimony mineralization. The Ripsey mine, located 20 kilometers west of Hot Breccia, is an historic gold-silver-copper producer with sampling up to 15.85 g/t gold and 276 g/t silver, yet remains untested by modern exploration.

Company Highlights

  • Prismo Metals is an exploration company targeting high-grade silver and gold projects in Mexico, one of the world’s top producers of precious metals, and a large-scale copper project in Arizona, the leading producer of the metal in the US.
  • The company’s Palos Verdes property is located in the historic Panuco-Copala silver-gold district in Sinaloa, Mexico and is partly surrounded by ground controlled by Vizsla Silver Corp..
  • The Palos Verdes property includes 700 meters of strike length along the Palos Verdes vein, which has yielded 6.7 grams per ton (g/t) gold and 544 g/t silver at the surface.
  • The company’s Los Pavitos project is located in the well-mineralized Alamos region of southern Sonora. The project consists of one concession covering 5,289 hectares.
  • The Hot Breccia project consists of 1,400 hectares located in the world class Arizona Copper Belt.
  • Prismo’s management and advisory team offers decades of experience in the Mexican precious metals industry, including all aspects of exploration and resource development.
  • Prismo acquired 100 percent of the Palos Verdes claim and has drilled 6000 meters on the property. The drill results revealed high-grade silver and gold showing multiple discrete quartz vein stages lacing between breccia fragments and showing distinctly differing mineralogy.
  • Vizsla Silver Inc. completed a Strategic Investment and owns about 9.9 percent of the company.
  • The company also filed on SEDAR an NI 43-101 Technical Report for its Los Pavitos Gold-Silver Project in southern Sonora, Mexico.

Key Projects

Hot Breccia

The Hot Breccia project is Prismo’s latest acquisition located in the heart of the great Arizona Copper Belt, USA and is located 40 km south of the Resolution deposit and 35 km north of the San Manuel / Kalamazoo deposit and is just a few kilometers from the Hayden Smelter. The Hot Breccia property has the same productive geologic units that host high-grade copper skarn mineralization at the adjacent, past-producing Christmas Mine owned by Freeport. Prismo has the option to earn a 75-percent interest in the Hot Breccia project from Infinitum Copper (TSXV:INFI).

The company completed an airborne Z‐tipper axis electromagnetic (ZTEM) geophysical survey at Hot Breccia in 2023 and received assay results for a first batch of samples taken at the project. The results indicate the presence of not only copper mineralization, but also gold mineralization associated with gossanous veins and shear zones. The ZTEM survey identified a priority drill target in a conductive anomaly at depth.

Following the success of the 2023 ZTEM survey, Prismo received permit approval from the Bureau of Land Management for 10 drill pads to allow for drilling to test the prospective stratigraphy below the cover volcanic rock over a wide area. Assay results for samples taken in February 2024 include 5.69 percent copper, 0.24 g/t gold and 32.8 g/t silver.

Earlier in 2024, Prismo Metals engaged Exploration Technologies (ExploreTech) from San Diego, California to apply xFlare, their artificial intelligence (AI)-optimized drill planning solution, to its Hot Breccia project where a number of features suggest well mineralized Arizona-style copper porphyry lies at depth. Prismo is currently planning an initial 5,000 meter drill program at Hot Breccia.

Palos Verdes

The company’s Palos Verdes property is located in Southern Sinaloa, roughly 65 kilometers northeast of Mazatlán. The Palos Verdes concession covers 22.77 hectares and is situated within the historic Panuco-Copala mining district, the largest silver producer in Sinaloa.

History

Mapping and sampling were conducted over the property by ProDeMin. The Palos Verdes vein crops out for about 750 meters along strike and yielded as much as 4.15 g/t gold and 732.7 g/t silver. Before the turn of the century, a 70-meter tunnel was driven along the Palos Verdes vein near the bottom of the Palos Verdes arroyo; a sample of the vein in this adit yielded 6.7 g/t gold and 544 g/t silver. In 2018, ProDeMin completed a diamond drilling program on the property. Notable drill results included 3.75 g/t gold and 1,098 g/t silver for 2.3 meters and 8.42 g/t gold and 2,336 g/t silver for 0.8 meters.

Drilling

The company has undertaken several drill campaigns at the project, and a total of about 6,052 meters have been drilled in 33 holes to date, including five holes drilled by ProDeMin in 2018. Results indicate the presence of a near-surface high-grade ore shoot in the Palos Verdes vein similar to mineralization in the resources defined by Vizsla Silver in the southwestern portion of the district.

The company, in conjunction with its strategic partner Vizsla Silver (TSXV:VZLA), has planned an expanded drill program with new holes to be drilled from Vizsla Silver’s concessions adjacent to the Palos Verdes concession, targeting the proposed extension of the Palos Verdes ore shoot at depth and a possible extension along strike to the northwest. Prismo Metals is planning on initiating this drill program in August, 2024.

Los Pavitos

The company’s Los Pavitos project is located in the Alamos region of Southern Sonora, a well-mineralized area that hosts multiple active exploration and mining projects. Los Pavitos consists of one concession covering 5,289 hectares. Early sampling and reconnaissance work has been carried out by previous companies, including Minera Cascabel. The property’s numerous mines and prospect pits indicate historical interest.

Prismo conducted a reconnaissance surface mapping and sampling at the project in 2022 and early 2023. This program consisted of about 1,500 samples and identified 5 main gold and silver mineralized target areas within several kilometer-scale structural zones. A follow up trenching program consisted of 698 meters in 25 trenches with almost 350 samples taken. A first ever drill program at the project was conducted in 2023, with 2,370 meters completed in 25 holes.

High-grade gold assays were encountered at the Santa Cruz target, with 10.2 g/t gold over 6.6 meters in drill hole LP-SC-23-02. A second gold zone was intersected at Las Auras, with 3.58 g/t gold over 1.15 meters within 3.65 meters carrying 2.33 g/t gold and 87.6 g/t silver.

Management Team

Gordon Aldcorn – President

Gordon Aldcorn brings over 20 years of experience in capital markets and junior public company development. Over the past five years, he has focused on the corporate management of copper and gold exploration projects, with a strong track record of advancing early-stage assets. Committed to responsible mineral exploration and long-term stakeholder engagement, Aldcorn now leads Prismo Metals through a pivotal growth phase, advancing its high-potential projects in Mexico and Arizona, including the flagship Hot Breccia copper project and the Palos Verdes silver project.

Alain Lambert – CEO and Director

Alain Lambert, who co-founded Prismo in 2018, is a lawyer by training and has over 35 years of experience in financing and advising small and medium-sized companies operating in various industries including technology, manufacturing, and the natural resources sector. He has been involved in private and public financings totaling more than $1 billion. He has an extensive network of investors, investment bankers, analysts, and investor relations professionals. Lambert acts as an advisor to public and private companies regarding financings, mergers and acquisitions plans, debt structuring as well as going-public transactions. Throughout his career, Lambert has served as a director and member of the audit committee and governance committee of small and medium-sized private and public companies. He holds a Bachelor of Laws degree (LL.B.) from the University of Montréal and a diploma of collegial studies, specializing in administration from the College Jean-de-Brébeuf in Montréal, Québec.

Craig Gibson – Chief Exploration Officer and Director

Dr. Craig Gibson has extensive experience in the minerals industry. He received his BS (1984) in earth sciences from the University of Arizona and MS (1987) and PhD (1992) in economic geology and geochemistry from the Mackay School of Mines, University of Nevada, Reno. He co-founded Prospeccion y Desarrollo Minero del Norte, S.A. de CV (ProDeMin) based in Guadalajara, Mexico, in 2009. ProDeMin is a consulting firm providing a broad spectrum of exploration-related services to the mining industry and has been involved in several major precious metal discoveries in Mexico. Gibson is also a director of Garibaldi Resources, a Vancouver-based junior exploration company; a certified professional geologist of the American Association of Professional Geologists; and a qualified person under NI 43-101.

Carmelo Marelli – CFO and Secretary

Carmelo Marrelli is the principal of the Marrelli Group, comprising Marrelli Support Services Inc., DSA Corporate Services Inc., DSA Filing Services Limited, Marrelli Press Release Services Limited, Marrelli Escrow Services Inc. and Marrelli Trust Company Limited. The Marrelli Group has delivered accounting, corporate secretarial and regulatory compliance services to listed companies on various exchanges for over twenty years. Marrelli is a chartered professional accountant (CPA, CA, CGA), and a member of the Institute of Chartered Secretaries and Administrators, a professional body that certifies corporate secretaries. He received a bachelor of commerce degree from the University of Toronto. Marrelli acts as the chief financial officer to several issuers on the TSX, TSX Venture Exchange and CSE, as well as non-listed companies, and as a director of select issuers.

Martin Dupuis – Director

Martin Dupuis has over 25 years of experience covering all stages of a project’s life, from exploration through feasibility and engineering studies, construction, mine expansion and operations. Dupuis serves as Vizsla Silver’s chief operating officer. He was instrumental in the oversight and delivery of the company’s maiden resource estimate. Before joining Vizsla Silver, Dupuis was director of geology for Pan American Silver, technical services manager for Aurico Gold, and chief geologist at several other operations.

Jorge Rafael Gallardo-Romero – Director

Jorge Rafael Gallardo-Romero has been a consultant geologist of Cascabel since March 1992. He also acts as Mexico exploration manager of Gainey Capital (since January 2015) and of Minera Goldzone SA de CV (since March 2011). Gallardo-Romero graduated from the University of Sonora with a degree in Geology in 1984.

Maria Guadalupe Yeomans Otero – Director

Maria Yeomans Otero is a geologist who graduated from Universidad de Sonora, Mexico, in 1986, with master’s studies in business administration at the same university. She has been a part of the team at Cascabel since 1992 and is now the office manager. She speaks English fluently and has extensive experience in the administration, legal and commercial relations related to mining.

Louis Doyle – Director

Louis Doyle has over 30 years of experience focused primarily on capital markets and public companies. Since 2016, he has also provided consulting services to private companies seeking listing on Canadian exchanges. Since January 2016, Doyle has been the executive director of Québec Bourse. Between October 1999 and December 2015, he was the vice-president, Montréal of the TSX Venture Exchange. As such, he was responsible for business development and listing activities in the provinces of Québec and Atlantic Canada. During his tenure, he acted as chairman of the TSX Venture listing committee and was a member of the policy committee. Doyle also led the nationwide TSX Venture mentorship program and further acted regularly as a speaker and advisor at conferences and workshops. He also holds directorship roles with two other publicly traded companies. Doyle was granted 150,000 incentive stock options exercisable at $0.165 per share before June 26, 2027. Also, three other directors were each granted 50,000 incentive stock options, exercisable at $0.165 per share before June 26, 2027.

Peter Megaw – Advisor

Dr. Peter Megaw is best known as co-founder of MAG Silver and Minaurum Gold. He and his team are credited with MAG Silver’s Juanicipio discovery in the famous Fresnillo District and Excellon Resources’ Platosa mine. He received his doctorate from the University of Arizona and has more than 35 years of experience exploring silver and gold in Mexico. Megaw is a certified professional geologist by the American Institute of Professional Geologists and an Arizona Registered Professional Geologist. He is the author of numerous scientific publications on ore deposits and is a frequent speaker at academic and international exploration conferences. He was awarded the 2017 Thayer Lindsley Award for the 2003 discovery of the Juanicipio silver deposit in the Fresnillo District, ultimately leading to a further 600 million ounces being identified in the immediate area. Megaw also received the Society of Mining Engineers 2012 Robert M. Dreyer Award for excellence in applied economic geology.

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Prismo Engages Windfall Geotek for Data Analysis at Hot Breccia

(TheNewswire)

Vancouver, British Columbia TheNewswire – August 18th, 2025 Prismo Metals Inc. (the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that its has engaged Windfall Geotek Inc. to apply its proprietary Windfall AI System to integrate and analyze geophysical data, topography data and drill hole data at Prismo’s Hot Breccia copper project located in Arizona.

Dr. Craig Gibson, Chief Exploration Officer of Prismo Metals commented: ‘The Hot Breccia Project should be an ideal place to apply the Windfall AI System. It lies in the world-famous Arizona copper belt, between several very well understood world-class copper mines including Christmas, Morenci, Ray and Resolution. (Figure 1) Hot Breccia shows many features in common with these neighboring systems, most prominently a swarm of porphyry dikes and series of breccia pipes containing numerous fragments of well copper-mineralized rocks mixed with fragments of volcanic and sedimentary derived from considerable depth.’


Click Image To View Full Size

Figure 1. Location of the Hot Breccia Project in the Arizona Copper Belt.

Gord Aldcorn, President of Prismo said: ‘Prismo remains committed to advancing its Hot Breccia copper project, located in the heart of the Arizona copper belt. The engagement of Windfall Geotek is consistent with that commitment. Their work will provide valuable information as we continue to hold discussions with potential strategic partners present in the district or wanting to gain a foothold in the district. The goal remains to conduct a minimum of 5,000 meters of drilling. Results from the Windfall Geotek study are expected to be received by the beginning of September.’

Windfall Geotek, located in Montreal, Canada, is a mining and technology services company and a leader in the application of Artificial Intelligence (AI) for mineral exploration since 2005. The Windfall AI System is a state-of-the-art computerized analysis method that uses the latest Artificial Intelligence (Machine Learning) and pattern recognition algorithms to analyze large digital exploration data sets and produce exploration targets.

Historical drilling was carried out at Hot Breccia in the mid to late 1970’s by a Rio Tinto subsidiary intersected high-grade copper mineralization at depths ranging from 640 to 830 meters below the surface in several holes that targeted one of the magnetic highs, believed to be caused by the magnetite skarn that was cut in the holes and that occurs in xenoliths in cross cutting dikes exposed at the surface. Prismo believes those intercepts cut the periphery of the upper portion of a large mineralized system as interpreted from our exploration program.  Historical drill holes cut high grade skarn mineralization including 23 meters with 0.54% Cu at 640 meters depth (hole OC-1), 18 m with 1.4% Cu and 4.65% Zn at 830 meters depth (hole OCC-7), and 7.6 m with 1.73% Cu and 0.11% Zn at 703 meters and 4.6 meters with 1.4% Cu and 0.88% Zn at 716 meters (OCC-8).

Mineralization occurs within a several hundred-meter-thick altered zone hosted in favorable Paleozoic carbonate rocks that underly a sequence of Cretaceous andesitic volcanic rocks.  These carbonates are the same rocks that host the high-grade copper mineralization at Freeport’s nearly Christmas mine.

The historic drilling intersected a blind mineralized intrusion associated with the skarn mineralization, providing an immediate drill target that is believed to be the source of the mineralization at Hot Breccia (Figure 2). Several magnetic highs in the region surrounding the proposed intrusion may also indicated buried skarn mineralization and provide additional exploration targets.


Click Image To View Full Size

Figure 2. Schematic cross section at Hot Breccia showing updated interpretation after Barrett (1974).

Notes:

  1. (1) Barrett, Larry Frank (1972): Igneous Intrusions and Associated Mineralization in the Saddle Mountain Mining District Pinal County, Arizona. Unpublished Masters’ Thesis, University of Utah.

  2. (2) Barrett, Larry Frank (1974): Diamond drill hole OC-1, O’Carroll Canyon, Pinal County, Arizona, unpublished internal report, Bear Creek Mining.

About Hot Breccia

The Hot Breccia property consists of 1,420 hectares in 227 contiguous mining claims located in the world class Arizona Copper Belt between several very well understood world-class copper mines including Morenci, Ray and Resolution (Figure 1). Hot Breccia shows many features in common with these neighboring systems, most prominently a swarm of porphyry dikes and series of breccia pipes containing numerous fragments of well copper-mineralized rocks mixed with fragments of volcanic and sedimentary derived from considerable depth. Prismo performed a ZTEM survey last year that identified a very large conductive anomaly directly beneath the breccia outcrops.

Sampling at the project has shown the presence of copper mineralization associated with polylithic breccia pipes that transported fragments of strongly mineralized carbonate rocks to the surface from depths believed to be 400-1,000 meters. Drilling deep holes is necessary to tap into the source of these mineralized fragments found at surface.

Assay results from historic drill holes are unverified as the core has been destroyed, but information has been gathered from memos, photos and drill logs that contain some, but not all, of the assay results and descriptions.  Technical information from adjacent or nearby properties does not mean nor does it imply that Prismo will obtain similar results from its own properties.

Data on previous drilling and geophysics is historical in nature and has not been verified, is not compliant with NI 43-101 standards and should not be relied upon; the Company is using the information only as a guide to aid in exploration planning.

QA/QC

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.

Please follow @PrismoMetals on , , , Instagram , and

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6

Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alambert@cpvcgroup.com

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

About Windfall Geotek

Windfall Geotek Inc. (CSE: WIN, OTCQB: WINKF) is an Artificial Intelligence company with over 20 years of experience developing its proprietary AI and Data Mining Technologies for mineral exploration and other applications. The company combines geophysical, geological, drillhole, and surface data to identify high-probability targets. Windfall has contributed to numerous discoveries and continues to innovate, including in landmine detection applications. Learn more at: https://windfallgeotek.com

For further information, please contact:

Michel Fontaine

Founder, President & CEO

Telephone: 514-994-5843

Email: michel@windfallgeotek.com

Website: www.windfallgeotek.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Hot Breccia.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Hot Breccia and the timing of such drilling campaign.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Putin backs Trump’s claim that the Ukraine war would not have happened if he’d won 2020 election

Russian President Vladimir Putin said he agreed with Donald Trump’s claim that the war in Ukraine would not have ever even begun if he had not lost the 2020 election and was serving as president when the carnage began, instead of former President Joe Biden.  

‘I can confirm that,’ Putin said at the tail-end of a press conferece that took place Friday evening after the pair met for a summit at Joint Base Elmendorf-Richardson in Anchorage, Alaska. 

Trump made the assertion multiple times on the campaign trail, and continued saying it after he took back the White House. Trump has faced pushback on the claim, as well as on claims that Ukraine instigated the war’s inception and the Biden administration failed to do things that could have thwarted it from beginning in the first place.

‘I’d like to add one more thing,’ Putin said, as the two heads of state provided remarks to the press, according to a translation of the Russian president’s address. ‘I’d like to remind you that in 2022, during the last contact with a previous administration, I tried to convince my previous American colleague that the situation should not be brought to a point of no return when it would come to hostilities and I said it quite directly back then that it’s a big mistake. Today, when President Trump is saying that if he was the president back then there would be no war – I am quite sure that it would indeed be so. I can confirm that.’

Earlier in his address, Putin lamented that bilateral relations between the U.S. and Russia, prior to Trump, had ‘fallen to the lowest point since the Cold War,’ and highlighted the fact that there have been no summits between the U.S. and Russia over the last four years.

‘That’s not benefiting our counties and the world as a whole,’ Putin said, adding that it was ‘apparent that sooner or later [U.S. and Russia] had to amend the situation to move on from the confrontation to dialogue.’

Meanwhile, Putin praised Trump for ‘his strive to get to the crux of the matter and to understand this history,’ referring to the backstory surrounding the war. He called the commitment ‘precious.’ 

The Russian president also remarked during his address that he hopes this new chapter of foreign diplomacy under Trump will ‘help us rebuild and foster mutually beneficial and equal ties at this new stage, even during the hardest conditions.’

‘Overall, me and President Trump have built a very good business-like and trustworthy contact, and have every reason to believe that moving down this path we can come to the end of the conflict in Ukraine,’ Putin said Friday. 

The optics of Trump’s meeting with Putin were slammed by critics, who compared the scene Friday to when Ukrainian President Volodymyr Zelenskyy met with Trump at the White House. 

The infamous meeting saw Zelenskyy publicly argue back-and-forth with Trump and other top leaders in the administration, as President Trump criticized the Ukrainian president for his approach to ending the war.

‘Biden could’ve stopped it, Zelenskyy could’ve stopped it, and Putin should’ve never started it,’ Trump said in April about the war in Ukraine.

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ROBERT MAGINNIS: What comes next for US, Russia and Ukraine after Alaska summit

It was a made-for-TV moment: The two leaders met on the tarmac at Joint Base Elmendorf–Richardson in Anchorage, Alaska, Air Force One and two F-35 fighters in the background. As they walked together, overhead came the roar of those F-35s, followed by the low, almost ghostly sweep of a B-2 stealth bomber — a display of U.S. airpower as much as a nod to the Cold War history between the nations.

Hours later, after their closed-door discussions, President Donald Trump and Russian President Vladimir Putin appeared again — this time on a raised stage, each behind a podium, U.S. and Russian flags flanking both sides, with a blue backdrop behind them that read ‘Pursuing Peace.’ It was the first U.S.-hosted summit between American and Russian presidents on U.S. military soil.

Trump had spent days rehearsing via secure calls with European leaders and Ukrainian President Volodymyr Zelenskyy, coordinating ‘red lines’ to take into the meeting: no territorial concessions to Russia, Ukraine in the room for all negotiations, and clear conditions for any sanctions relief. Yet, despite the military pomp and the careful stagecraft, what emerged from Alaska was not a deal, but a diplomatic pause — warm words, thin details, and the hard work still ahead.

Putin spoke first, describing the talks as ‘constructive and mutual respect.’ He recalled moments in history when the U.S. and Russia ‘worked together’ and said he sought a ‘long-term settlement.’ He acknowledged Russia’s ‘legitimate concerns’ and said it was ‘very important for our countries to turn the page.’ He described a ‘trustworthy tone’ in the conversation and praised Trump for having ‘a good idea of what he wants.’ In a line clearly aimed at the cameras back home, Putin claimed Trump told him that if he had been president earlier, ‘there would not have been war,’ and confirmed that he believed it was true.

Trump followed, also taking no questions. ‘We had productive meetings,’ he said. ‘Big agreements. No deal until there is a deal.’ He promised to call ‘NATO,’ to ‘call Zelenskyy,’ and declared, ‘We really made great progress today.’ He reminded the audience of his ‘fantastic relationship with Putin’ and judged there was ‘a good chance of getting there,’ even if ‘we’re not there yet.’ Most importantly, Trump said, ‘We need to stop thousands of people being killed every week.’

For all the positive tone, the substance was modest. Putin left Alaska dangling the prospect of a ceasefire — but with strings attached. We know from prior statements that he wants the U.S. to lift certain sanctions and drop tariff threats aimed at countries like India that buy Russian energy. He intends to keep control of two eastern Ukrainian provinces seized in 2022. Likely, Trump did not concede those points, but evidently they agreed to a follow-on meeting ‘soon.’ 

While the flags fluttered in Anchorage, the war did not stop. Russian forces pressed forward modestly near Dobropillia in Donetsk region, testing Ukrainian defenses in what looks like an attempt to improve their tactical position before any pause. Ukraine rushed reinforcements, stabilizing the line for now, but fighting remains intense.

Russia’s long-range bombardment shows no sign of abating. In July alone, Moscow launched more than 70 cruise missiles and thousands of Iranian-made Shahed drones at Ukrainian targets. Ukraine has answered with deep strikes — including a hit on a Russian oil refinery and the bombing of a cargo ship carrying drone parts in the Caspian Sea. Neither side is behaving as if the war’s end is imminent.

That’s why any ceasefire talk must be backed by ironclad verification: neutral observers on the ground, satellite surveillance, clearly mapped lines, and automatic ‘snap-back’ sanctions for violations. Without that, Moscow will have every incentive to rearm under the cover of diplomacy.

If nothing else, Alaska revealed the bottom lines.

For Putin, it’s about locking in territorial gains and relieving the economic pressure eroding his war machine. Rolling back sanctions on countries that help him skirt restrictions would boost his revenues and signal to others that U.S. economic warfare is negotiable.

For Trump, it’s about testing whether Putin can be moved toward de-escalation without sacrificing U.S. credibility. Involving Zelenskyy keeps Ukraine’s fate from being decided in absentia, and reaffirming NATO’s support reassures allies.

For Ukraine, it’s a double-edged sword. A follow-on meeting offers a diplomatic opening, but Putin’s explicit territorial demands remain a political, legal, and moral red line.

Washington must resist trading sanctions relief for vague promises. The sanctions regime is one of the few levers that works, and any easing must be tied to measurable, sustained compliance verified by independent intelligence as well as neutral monitors.

Putin leaves Alaska with the optics of being a willing negotiator — useful for his domestic image — but no immediate relief on sanctions or Western recognition of his land grabs. Expect him to probe Western unity with limited escalations in the next two weeks.

Kyiv has a brief window to reinforce its defenses and prepare a clear case for the next meeting: explicit security guarantees, timetables for arms deliveries, and a non-negotiable stance on sovereignty.

Allied capitals can point to a small win: the U.S. did not cut a side deal. But they must be ready to step up enforcement and fill any gaps if U.S. resolve wavers.

Beijing will study Alaska closely. If the West blinks on sanctions enforcement, it could embolden Chinese adventurism in the Pacific. A unified Western stand would send the opposite message.

If the U.S. wants these ceasefire talks to go anywhere, three steps are essential:

  1. Lock in Enforcement MechanismsBuild a monitoring framework that combines neutral observers, allied intelligence, and technological oversight. Make violations costly and automatic to deter cheating.
  2. Keep Ukraine at the Center‘No decision about Ukraine without Ukraine’ must remain non-negotiable. Zelensky needs a real voice and veto over any territorial terms.
  3. Use Sanctions as Leverage, Not CurrencyAny relief should be phased, conditional, and reversible. Sanctions should be the reward for sustained compliance, not an upfront concession.

The Alaska summit was not the breakthrough some hoped for, but it wasn’t a failure, either. It gave both sides a clearer picture of the negotiating terrain and bought time for positioning. But time favors the side that uses it best.

For the United States, that means holding firm on sanctions, bolstering Ukraine’s defenses, and treating any ceasefire as the start of a rigorous verification process, not the war’s conclusion. For Ukraine, it means preparing for two divergent paths: meaningful diplomacy or intensified conflict. For Russia, it means deciding whether continued war is worth the mounting cost when the West refuses to pay in land.

If Alaska was merely a pause, the next meeting will decide whether it becomes a bridge to peace — or a bridge to nowhere.

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Zelenskyy outlines peace demands before high-stakes White House meeting with Trump

Ukrainian President Volodymyr Zelenskyy on Saturday outlined firm conditions for a ‘real peace’ ahead of a high-stakes meeting with President Donald Trump on Monday.

Zelenskyy posted to X following his call with Trump and then with European leaders, after Trump and Russian President Vladimir Putin met in Alaska to try and bring about an end to the 3 ½ year war.

‘The positions are clear. A real peace must be achieved, one that will be lasting, not just another pause between Russian invasions,’ Zelenskyy wrote.

‘Killings must stop as soon as possible, the fire must cease both on the battlefield and in the sky, as well as against our port infrastructure. All Ukrainian prisoners of war and civilians must be released and the children abducted by Russia must be returned.’

Zelenskyy wrote that thousands of Ukrainians remain in captivity and must all be released, while adding that pressure on Russia must be maintained while the ‘aggression and occupation continue.’

In a follow-up post, Zelenskyy warned of Russian ‘treachery’ that could lead to attacks in order to gain leverage amid ongoing negotiations.  

‘Based on the political and diplomatic situation around Ukraine, and knowing Russia’s treachery, we anticipate that in the coming days the Russian army may try to increase pressure and strikes against Ukrainian positions in order to create more favorable political circumstances for talks with global actors,’ he wrote. 

Zelenskyy is scheduled to meet with Trump in the White House on Monday as the three nations try and bring an end to the bloodshed.

Trump wrote on Truth Social following the Putin meeting that he felt a peace agreement, rather than a ceasefire, was ultimately the best way to solve the war. Trump had been calling for a ceasefire ahead of his meeting with Putin. 

‘It was determined by all that the best way to end the horrific war between Russia and Ukraine is to go directly to a Peace Agreement, which would end the war, and not a mere Ceasefire Agreement, which often times do not hold up,’ Trump wrote.

He said if Monday’s meeting with Zelenskyy also goes well, a meeting will be scheduled with Putin and ‘potentially, millions of people’s lives will be saved.’

Zelenskyy’s visit will mark his first return to the Oval Office since February, when Trump berated him publicly for being ‘disrespectful’ during a remarkable press briefing, which led to the collapse of a U.S.-Ukraine minerals deal.

Though a peace agreement was not decided upon during the meeting on Friday, Trump described it as a successful meeting with ‘a lot of progress’ made. Putin expressed similar sentiments, adding the summit was a ‘constructive atmosphere of mutual respect.’

After his meeting with Putin, Trump also spoke to European leaders, who said they back Trump’s peace push but insist Ukraine must have ‘ironclad’ security guarantees to defend its sovereignty and territorial integrity.

The European leaders did not address whether a peace deal was preferable to a ceasefire.

‘It will be up to Ukraine to make decisions on its territory. International borders must not be changed by force,’ a statement signed by various leaders, including French President Emmanuel Macron, U.K. Prime Minister Keir Starmer and European Commission President Ursula von der Leyen.

‘No limitations should be placed on Ukraine’s armed forces or on its cooperation with third countries. Russia cannot have a veto against Ukraine‘s pathway to EU and NATO.’

During an interview with Fox News before returning to Washington, Trump insisted the onus going forward might be on Zelenskyy ‘to get it done,’ but said there would also be some involvement from European nations.

Fox News’ Elizabeth Pritchett and The Associated Press contributed to this report. 

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Trump closes out 30th week in office with ‘very warm’ high-stakes Putin meeting

President Donald Trump closed out his 30th week in office of his second term with a high-stakes meeting with Russian President Vladimir Putin Friday in Anchorage, Alaska, in an attempt to end the war between Russia and Ukraine. 

The two did not reach a peace agreement, but Trump said that the meeting was a success and that Ukrainian President Volodymyr Zelenskyy will visit the White House in Washington Monday. 

‘It was determined by all that the best way to end the horrific war between Russia and Ukraine is to go directly to a Peace Agreement, which would end the war, and not a mere Ceasefire Agreement, which often times do not hold up,’ Trump said in a Saturday post on Truth Social. 

If the meeting in Washington with Zelenskyy goes well, Trump said that a trilateral meeting between the U.S., Russia and Ukraine will be scheduled. 

Trump described the meeting with Putin as ‘very warm,’ and said that he believed a deal was imminent. 

‘I can tell you, the meeting was a very warm meeting,’ Trump told Fox News host Sean Hannity in an exclusive interview. ‘You know, he’s a strong guy, he’s tough as hell on all of that, but the meeting was a very warm meeting between two very important countries, and it’s very good when they get along. I think we’re pretty close to a deal. Now look, Ukraine has to agree to it.’

Here’s what also happened this week: 

Crime crackdown 

On Monday, Trump announced he would activate approximately 800 National Guard troops and would take over the Metropolitan Police Department to address crime in Washington. The move came after Trump already bolstered federal law enforcement presence in the nation’s capital Saturday. 

‘I’m deploying the National Guard to help reestablish law, order and public safety in Washington, D.C.,’ Trump told reporters at a Monday press conference. ‘And they’re going to be allowed to do their job properly.’

Trump initially suggested federalizing Washington’s Metropolitan Police Department and dispatching National Guard troops to address crime in Washington Aug. 6 in response to the assault of a former Department of Government Efficiency (DOGE) staffer. 

Although a temporary federal takeover of the Metropolitan Police Department is warranted for emergency situations, Washington officials filed a lawsuit challenging the Trump administration’s move Friday. 

‘By illegally declaring a takeover of MPD, the Administration is abusing its temporary, limited authority under the law,’ Washington Attorney General Brian Schwalb wrote in a Friday X post. ‘This is the gravest threat to Home Rule DC has ever faced, and we are fighting to stop it.’

Smithsonian review

The White House sent a letter to the Smithsonian Tuesday, announcing it would conduct a review of its museums and exhibits leading up to the 250th birthday of the United States in 2025.

‘We want the museums to treat our country fairly,’ Trump told reporters Thursday. ‘We want their museums to talk about the history of our country in a fair manner, not in a woke manner or in a racist manner, which is what many of them, not all of them, but many of them are doing.’

‘Our museums have an obligation to represent what happened in our country over the years. Good and bad,’ Trump said. ‘But what happened over the years in an accurate way.’ 

The White House said in a letter Tuesday the review would involve examining social media, exhibition text and educational materials to ‘assess tone, historical framing, and alignment with American ideals.’ 

‘This initiative aims to ensure alignment with the President’s directive to celebrate American exceptionalism, remove divisive or partisan narratives, and restore confidence in our shared cultural institutions,’ the letter said.

The Smithsonian told Fox News Digital it would coordinate with the White House, Congress and its governing Board of Regents on the matter. 

‘The Smithsonian’s work is grounded in a deep commitment to scholarly excellence, rigorous research and the accurate, factual presentation of history,’ the Smithsonian said in a statement.

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State Department stops issuing all visitor visas for individuals from Gaza

The State Department announced on Saturday that it was halting all visitor visas to individuals from Gaza while it reviews the issuing process.

‘All visitor visas for individuals from Gaza are being stopped while we conduct a full and thorough review of the process and procedures used to issue a small number of temporary medical-humanitarian visas in recent days,’ a post on X from the State Department read.

Neither the State Department nor Secretary of State Marco Rubio commented on what triggered the sudden review.

In June, the Trump administration began cracking down on vetting for visa applicants. This involved the introduction of a ‘comprehensive and thorough’ review of all applicants’ ‘online presence.’

‘Every visa adjudication is a national security decision. The United States must be vigilant during the visa issuance process to ensure that those applying for admission into the United States do not intend to harm Americans and our national interests, and that all applicants credibly establish their eligibility for the visa sought, including that they intend to engage in activities consistent with the terms for their admission,’ the State Department said at the time.

Earlier this month, France suspended evacuations from Gaza after a Palestinian student allegedly shared a social media post with an image of Adolf Hitler that called for killing Jews.

French Foreign Minister Jean-Noël Barrot told France Info radio that the woman ‘must leave the country’ and that she ‘has no place’ in France.

‘No evacuation of any kind will take place until we have drawn the necessary conclusions from this investigation,’ Barrot said in the interview. He also vowed there would be a probe into how the Palestinian woman was able to get a student visa.

The student, later identified as Nour Attaalah, left France for Qatar after the incident.

As of Jan. 1, 2025, the population in Gaza had dropped by 6% since the beginning of the Israel-Hamas war in October 2023, according to Reuters, which cited the Palestinian Central Bureau of Statistics (PCBS). The outlet noted that this includes approximately 100,000 Palestinians who fled the enclave.

Fox News Digital reached out to the State Department. 

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Tech 5: US Government Strikes Big Tech Deal, Perplexity Plots Expansion

Tech stocks led Wall Street to a second consecutive week of gains as a series of data releases reignited optimism about a September interest rate cut from the US Federal Reserve.

A strong consumer price index report was the catalyst, renewing anticipation that the Fed will lower rates when it meets next month. While Thursday’s (August 14) less optimistic producer price index report caused a momentary pause, the tech sector’s resilience — or defiance — mitigated losses and kept momentum alive.

Here’s a look at the key moments that shaped the tech sector this week.

1. US government strikes controversial Big Tech deal

On Monday (August 11), the Washington Post reported on a deal between the US government and tech giants NVIDIA (NASDAQ:NVDA) and Advanced Micro Devices (AMD) (NASDAQ:AMD). It stipulates that the tech companies must surrender 15 percent of revenue from Chinese sales of NVIDIA’s H20 chips and AMD’s MI308 chips.

Anonymous sources told the news outlet that this condition was imposed as a prerequisite for granting the companies export licenses to sell their products in China. The move that has prompted legal concerns among trade experts who say the fee could be construed as an unconstitutional trade tax.

“To call this unusual or unprecedented would be a staggering understatement,” Stephen Olson, a former US trade negotiator, told Bloomberg. “What we are seeing is in effect the monetization of US trade policy in which US companies must pay the US government for permission to export.”

AMD, NVIDIA and Intel performance, August 12 to 15, 2025.

Chart via Google Finance.

Meanwhile, shares of Intel (NASDAQ:INTC) rose as much as 4.6 percent on Tuesday (August 12) following a ‘candid and constructive’ meeting between CEO Lip-Bu Tan and US President Donald Trump on Monday.

The meeting came after Trump called for Tan’s removal last week.

According to a separate Bloomberg article, the US government is considering taking a stake in the chipmaker to help it establish a planned factory hub in Ohio; the company once promised it would be the world’s largest chipmaking facility. Tan has not confirmed or denied the report, but discussions are said to be ongoing. Sources told Bloomberg the government is considering using funds from the Biden administration’s Chips Act to fund the stake.

2. Amazon to expand grocery delivery services

Amazon (NASDAQ:AMZN) shares rose as much as 1.3 percent on Wednesday (August 13) after the commerce company announced plans to significantly expand its grocery services.

On Wednesday, the company said its same-day delivery service will now include fresh groceries, including produce, meat and dairy, in over 1,000 cities, with plans to expand into more than 2,300 by the end of the year.

The service is included in Amazon Prime memberships for orders over US$25. Smaller orders and orders from non-members will require fees of US$2.99 and US$12.99, respectively.

3. CoreWeave shares drop after mixed earnings report

Artificial intelligence (AI) data center operator CoreWeave (NASDAQ:CRWV) reported mixed Q2 results on Tuesday, with revenue more than doubling year-on-year to US$1.2 billion, beating estimates of US$1.08 billion, and a revenue backlog of US$30.1 billion. However, the growth came at a high cost. The company reported a record US$2.9 billion in capital expenditures for the quarter, and operating expenses jumped by 276 percent to US$1.19 billion.

CoreWeave performance, August 12 to 15, 2025.

Chart via Google Finance.

The company also reported losses of US$291 million, larger than the US$190.6 million analysts had estimated.

Shares of CoreWeave opened more than 10 percent lower on Wednesday and declined throughout the week, closing at US$99.97 on Friday (August 15) compared to Monday’s opening price of US$134.80.

4. Perplexity bids on Chrome, prepares for fresh funding round

AI startup Perplexity made a US$34.5 billion bid for Google’s (NASDAQ:GOOGL) web browser, Chrome, in a move to secure its future in the AI search market. Perplexity told the Wall Street Journal that the unsolicited offer would be funded with the help of outside investors. The company’s advance comes as Google faces a potential divestiture following an antitrust trial that found it had illegally monopolized online search and search advertising.

OpenAI has also expressed interest in acquiring Chrome.

On Thursday, Business Insider reported that Perplexity is preparing for another round of funding, which would mark its sixth fundraiser in 18 months. The company is reportedly seeking a post-money valuation of US$20 billion. This comes barely one month after the startup achieved a US$18 billion valuation.

The rapid succession of these events underscores the intense, high-stakes competition among AI startups to secure foundational assets and challenge established tech giants.

Canadian AI startup Cohere secured US$500 million in fresh funding on Thursday from a group of investors that included NVIDIA and AMD, bringing its valuation to US$6.8 billion. The company also onboarded former executives from Uber Technologies (NYSE:UBER) and Meta Platforms (NASDAQ:META).

5. Apple plans product expansion

Apple (NASDAQ:AAPL) shares climbed as high as 1.7 percent on Wednesday after Bloomberg reported on the company’s planned expansion into robotics, home security and smart displays.

The new products are aimed at strengthening Apple’s product ecosystem, which has paled in comparison to offerings from tech rivals like Amazon and Meta.

Apple performance, August 12 to 15, 2025.

Chart via Google Finance.

Some of the new devices slated for future release include a tabletop virtual companion robot, a long-planned advanced Siri model with a visual personality, a smart speaker with display capabilities and home security cameras.

Apple finished the week at US$231.59, a 1.7 percent gain from Monday.

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

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Crypto Market Update: Bitcoin Pulls Back After New High, Ethereum ETF Inflows Hit Nearly US$3 Billion

Here’s a quick recap of the crypto landscape for Friday (August 15) as of 9:00 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$116,999, a 0.8 percent decline in 24 hours. Its lowest valuation of the day was US$116,956, while its highest was US$118,192.

Bitcoin price performance, August 15, 2025.

Chart via TradingView.

Bitcoin surged to a new all-time high of US$124,533 on Thursday (August 14), driven by increased institutional interest and expectations that the US Federal Reserve will cut interest rates.

However, the rally was short-lived, as the price fell as low as US$117,263 early on Friday.

The decline was attributed to hotter-than-expected US producer price index data for July, which dampened investor optimism about a rate reduction. Additionally, comments from US Secretary of the Treasury Scott Bessent revealed that the country holds less Bitcoin in reserve than previously thought, further unsettling the market.

Ethereum (ETH) experienced one of its most successful weeks of the year, with on-chain data further underscoring this bullish trend. Daily active addresses, stablecoin transfer volume and daily transactions all reached record highs this week. Additionally, decentralized exchange volume hit its highest point since 2022.

As of Friday’s close, ETH was priced at US$4,391.13, a 3.3 percent decline over 24 hours. Its lowest valuation on Friday was US$4,381.31, and its highest was US$4,614.81.

Altcoin price update

  • Solana (SOL) was priced at US$184.03, down by 4.8 percent over 24 hours. Its lowest valuation of the day was US$183.837, while its highest valuation was US$193.02.
  • XRP was trading for US$3.07, down 0.3 percent in the past 24 hours. Its lowest valuation of the day was US$3.01, and its highest was US$3.11.
  • Sui (SUI) was trading at US$3.66, down by 2.4 percent over the past 24 hours. Its lowest valuation of the day was US$3.63, while its highest was US$3.85.
  • Cardano (ADA) was trading at US$0.93, up 0.3 percent over 24 hours. Its lowest valuation of the day was US$0.9186, while its highest was US$0.9526.

Today’s crypto news to know

Ethereum ETF inflows hit nearly US$3 billion for the week

Ethereum-focused exchange-traded funds (ETFs) have seen an unprecedented surge in investor demand, attracting almost US$3 billion in net inflows over the past week. According to SoSoValue data, this amount is more than five times the US$562 million that flowed into Bitcoin ETFs during the same period.

The spike coincides with a rapid increase in Ethereum holdings by crypto treasury firms — their exposure has climbed from US$600 million to US$11 billion in just six weeks. It also follows the US Securities and Exchange Commission’s (SEC) approval of in-kind creations and redemptions for spot Bitcoin and Ethereum ETFs. The change makes the funds more cost efficient and attractive to institutional investors.

ETF Store President Nate Geraci said in a post on X that three of the four largest single-day inflows for Ethereum ETFs since their inception occurred this week alone. Prices for the cryptocurrency have rallied nearly 19 percent over the past seven days, coming within reach of their 2021 all-time high of US$4,878.

Galaxy Digital secures US$1.4 billion loan for AI data center

Galaxy Digital (NASDAQ:GLXY) has secured a US$1.4 billion term loan facility to accelerate the development of its Helios artificial intelligence (AI) data center campus in Texas.

The loan, announced on Friday, will cover approximately 80 percent of the construction costs for the project’s first phase, with Galaxy Digital contributing US$350 million in equity. According to an SEC filing, the loan is secured by all assets of Galaxy Helios I, a subsidiary of Galaxy Digital, and is set to mature on August 15, 2028.

The capital infusion will fund the expansion of the Helios AI datacenter, enabling it to deliver power for AI workloads under a long-term agreement with GPU cloud provider CoreWeave (NASDAQ:CRWV), commencing in early 2026.

Galaxy Digital also announced the expansion of a power capacity deal with CoreWeave to 800 megawatts for AI and high-performance computing operations at its Helios campus, projecting over US$1 billion in annual revenue from this deal, or US$15 billion over 15 years. The Helios data center is expected to reach a 3.5 gigawatt capacity when fully developed, with 2.7 gigawatts available for other clients after the CoreWeave agreement.

DOJ seizes over US$2.8 million in crypto from alleged ransomware operator

On Thursday, the US Department of Justice (DOJ) announced the seizure of over US$2.8 million in cryptocurrency, as well as cash and other assets, as part of a criminal case against an alleged ransomware operator.

Ianis Aleksandrovich Antropenko, the alleged operator, faces charges of conspiring to commit computer fraud and abuse, as well as conspiracy to commit money laundering.

On Thursday, the DOJ unsealed six warrants, authorizing the seizure of US$2.8 million in cryptocurrency from a wallet controlled by Antropenko, along with US$70,000 in cash and a luxury vehicle.

According to the notice, these assets are believed to be the proceeds of ransomware activity, or involved in laundering those proceeds. The laundered assets were disguised through various methods, including the use of ChipMixer, a cryptocurrency mixing service that was shut down in a coordinated international operation in 2023.

Antropenko also laundered cryptocurrency by converting it to cash and making structured cash deposits.

Saylor bets on US$100 billion ‘Bitcoin credit’

Michael Saylor, executive chairman of Strategy (NASDAQ:MSTR), is pursuing a high-risk plan to finance further Bitcoin purchases through perpetual preferred stock offerings.

The new securities — nicknamed “Stretch” — do not mature, lack voting rights and can skip dividends under certain conditions, giving the issuer flexibility while raising investor concerns about risk.

This marks a departure from the company’s earlier reliance on common stock sales and convertible bonds to fund what is now a US$75 billion Bitcoin treasury. Saylor aims to retire billions in outstanding debt and replace it with preferred equity, which he says could theoretically scale to US$100 billion or more in capital raised.

The model hinges on investor appetite for yield backed indirectly by Bitcoin’s performance, while avoiding the dilution impact of issuing more common stock.

Federal Reserve Board to sunset crypto supervision program

In a notice on Friday, the US Federal Reserve Board said it will sunset a program created in August 2023 to supervise certain activities related to crypto assets and distributed ledger technology.

The Fed said it will return to monitoring activity through the normal supervisory process.

“Since the Board started its program to supervise certain crypto and fintech activities in banks, the Board has strengthened its understanding of those activities, related risks, and bank risk management practices,” it said.

“As a result, the Board is integrating that knowledge and the supervision of those activities back into the standard supervisory process and is rescinding its 2023 supervisory letter creating the program.”

Hong Kong SFC rolls out stricter rules for licensed crypto platforms

Hong Kong’s Securities and Futures Commission (SFC) has introduced new custody rules for licensed virtual asset trading platforms, setting stricter benchmarks for how client assets must be stored and secured.

The updated framework includes specific requirements for cold wallet usage, senior management accountability and real-time cyber threat monitoring, alongside rules for using third-party wallet providers.

These measures follow an SFC review earlier this year that identified security and operational gaps among some licensed exchanges. The regulator says the changes are part of its ASPIRe strategy, a five point plan to address liquidity fragmentation, regulatory arbitrage and volatility, while expanding regulated product offerings.

The policy also aims to position Hong Kong as a safer, more structured alternative to other Asian crypto hubs, notably Singapore, which has imposed tighter limits on retail trading.

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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Playboy moving its headquarters to Miami Beach and opening a new club

MIAMI BEACH, Fla. — Playboy plans to relocate its global headquarters from Los Angeles to Miami Beach and open a Playboy club there.

The Miami Beach headquarters at the top of a luxury office building will include studios to support Playboy’s “growing creator network” and the club will have a restaurant as well as a members-only section inspired by the Playboy Mansion in Los Angeles, the company said Thursday in a statement.

“Miami Beach is among the most dynamic and culturally influential cities in the country, making it the ideal home for Playboy’s next chapter,” Ben Kohn, CEO of Playboy Inc., said in the statement.

The first Playboy Magazine was published in 1953, featuring Marilyn Monroe on the cover and in a “Sweetheart of the Month” color nude photo inside.

The first Playboy Club opened in 1960 in Chicago, which was the headquarters of the company at the time, and the company opened up clubs around the world.

In 2020, Playboy ceased publishing its monthly print magazine, sticking instead with online content.

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