Jindalee Lithium (JLL:AU) has announced Despatch of SPP Offer Documents
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RemSense Technologies (REM:AU) has announced Chevron Extends Partnership with REM in Major Contract Award
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Investor and author Gianni Kovacevic discusses silver’s price pullback, saying that in the long term he sees the white metal reaching triple digits.
He expects oil prices to reach that level too, but emphasized that he sees lithium as the truly contrarian play for the rest of 2025 and into next year.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Here’s a quick recap of the crypto landscape for Wednesday (October 22) 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$107,811, a 3.5 percent decrease in 24 hours. Its lowest valuation of the day was US$107,657, and its highest was US$108,936.
Bitcoin price performance, October 22, 2025.
Chart via TradingView.
Bitwise Chief Investment Officer Matt Hougan believes gold’s explosive price performance this year could offer a glimpse of what lies ahead for Bitcoin, arguing that the world’s top cryptocurrency may be preparing for a similar structural breakout once its remaining pool of sellers runs dry.
Gold has surged roughly 57 percent in 2025, powered largely by sustained central bank accumulation. Bitcoin, meanwhile, has traded in a relatively narrow range between US$108,000 and US$112,000. According to Hougan, the comparison between the two assets provides a potential roadmap for their trajectory going into next year.
“Don’t look at gold’s meteoric rise with envy. Look at it with anticipation. It could end up showing us where bitcoin is headed,” Hougan wrote in a client note this week.
In addition, steady accumulation by exchange-traded funds (ETFs) and corporate treasuries has provided a similar source of structural demand. Since the launch of spot Bitcoin ETFs in January 2024, institutions and corporations have purchased roughly 1.39 million BTC, far outpacing new supply generated by the network.
Market data this week supports the idea of renewed accumulation. Following a US$19 billion liquidation event earlier this month, spot Bitcoin ETFs have recorded US$477 million in positive net inflows.
Predictions about a breakdown below US$100,000 have not materialized, though ongoing long liquidations over the past four hours reveal how vulnerable bullish traders remain near current support.
Ether (ETH) was priced at US$3,796.34, a 4.9 percent decrease in 24 hours. Its lowest valuation of the day was US$3,795.42, and its highest was US$3,873.52.
Altcoin price update
- Solana (SOL) was priced at US$179.68, at its lowest valuation of the day, down by 7.5 percent over the last 24 hours. Its highest valuation of the day was US$185.98.
- XRP was trading for US$2.37, a decrease of 5.2 percent over the last 24 hours and its lowest valuation of the day. Its highest was US$2.41.
Fear and Greed Index snapshot
CMC’s Crypto Fear & Greed Index remains locked in a state of anxiety, sitting in “fear” territory (29) for seven consecutive days and marking its longest streak since April. Its stagnation reflects a growing sense of caution among investors, as Bitcoin continues to trade within a narrow band between US$103,000 and US$115,000 for nearly two weeks.
Over the past 30 days, the index has been in greed territory for just seven days — the same period when Bitcoin reached its all-time high of US$126,000 in early October. Since then, investor sentiment has reversed sharply.
CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.
Chart via CoinMarketCap.
The current fear phase began on October 11, a day after the largest liquidation event in crypto history erased more than US$20 billion in leveraged positions. Historically, similar periods of heightened fear have marked turning points for Bitcoin. The last extended stretch of fear occurred in March and April during the Trump administration’s tariff standoff with China, when Bitcoin bottomed near US$76,000. Market analysts say the prevailing mood underscores uncertainty following the US Federal Reserve’s recent policy pivot and renewed US-China trade negotiations.
Crypto derivatives and market indicators
Bitcoin derivatives metrics suggest traders are taking a wait-and-see approach.
Liquidations for contracts tracking Bitcoin have totaled approximately US$6.12 million in the last four hours, with the majority being long positions, signaling continued risk aversion. Ether liquidations showed a similar pattern, with long positions making up the majority of US$9.35 million in liquidations.
Futures open interest for Bitcoin was down by 1.09 percent to US$68.51 billion over four hours, with further decreases in the final hour of trading. Ether futures open interest moved by -1.15 percent to US$43.7 billion.
The funding rate remains positive for both crytocurrencies, with Bitcoin at 0.008 and Ether at 0.002, indicating more overall bullish positioning than bearish.
Bitcoin’s relative strength index stood at 44.98, meaning its price momentum is in a neutral to slightly bearish zone.
Today’s crypto news to know
Senate Democrats tell Trump envoy to explain undivested crypto stakes
Senate Democrats have called on Steve Witkoff, US President Donald Trump’s special envoy to the Middle East, to explain why he has not divested from his crypto holdings despite federal ethics requirements.
In a letter led by Senator Adam Schiff, eight lawmakers pressed Witkoff for details on his interests in World Liberty Financial, the Trump-linked crypto firm he co-founded in 2024, and several affiliated entities.
Witkoff’s latest ethics disclosure, dated August 13, shows he still owns stakes in multiple crypto-related businesses, including WC Digital Fi and SC Financial Technologies. Lawmakers allege these investments pose potential conflicts of interest given his diplomatic role and the company’s business ties to the United Arab Emirates.
The scrutiny follows a New York Times report linking Witkoff’s crypto dealings to a US$2 billion Emirati investment in Binance funded through World Liberty Financial’s stablecoin, USD1.
Neither the White House nor World Liberty Financial has commented on the matter.
FalconX announces plans to acquire 21Shares
FalconX announced plans to acquire 21Shares, one of Europe’s leading crypto exchange-traded product issuers.
The deal, confirmed Wednesday, will integrate FalconX’s prime brokerage operations, which serves over 2,000 institutional clients, with 21Shares’ portfolio of 55 listed products across Bitcoin, Ether and other digital assets.
21Shares currently oversees more than US$11 billion in assets and will continue operating independently under CEO Russell Barlow following the deal. While the financial terms remain undisclosed, the transaction marks FalconX’s third major acquisition this year after Arbelos Markets and Monarq Asset Management.
Hong Kong approves first spot Solana ETF
Hong Kong regulators have approved the region’s first spot Solana ETF.
The Securities and Futures Commission granted authorization to China Asset Management Company to launch the Hua Xia Solana ETF on the Hong Kong Stock Exchange on October 27. The product will trade through OSL Exchange, with OSL Digital Securities as sub-custodian and BOCI-Prudential Trustee serving as the primary custodian.
Each unit will consist of 100 shares, with a minimum investment of about US$100.
The fund’s debut makes Solana the third cryptocurrency — after Bitcoin and Ethereum — to receive regulatory approval for a spot ETF in Hong Kong.
Fed governor proposes skinny master accounts for crypto access to Fed payments
Fed Governor Christopher Waller signaled a major policy shift during his opening remarks at the Payments Industry Conference on Tuesday (October 21), welcoming DeFi and crypto innovators into mainstream payments dialogue and proposing a new framework for direct access to Fed payment infrastructure for eligible firms.
In his speech, Waller recognized traditional banks and crypto-native fintechs as core stakeholders and stressed the Fed’s intent to be active in technology-driven payment revolutions like distributed ledger technology, tokenized assets and artificial intelligence (AI). The proposed payment accounts, referred to as skinny master accounts, would offer eligible nonbank entities direct access to the Fed’s payments rails, bypassing third-party banks, but without interest, overdraft protection or discount window access, and potentially with balance caps.
Waller said this tailored access aims to match the needs and risks of payment firms and digital asset companies with a simpler review. He also noted that the Fed is conducting hands-on research into tokenization, smart contracts and AI/payments intersection and will seek industry input on the new account framework.
Andreessen Horowitz highlights maturing crypto industry
Andreessen Horowitz’s most recent State of Crypto 2025 report highlights a new era in the cryptocurrency industry that the firm says is defined by real utility and maturing institutional adoption.
The authors point out stablecoins’ explosion as a dominant macroeconomic force, citing nearly US$46 trillion in processed transactions over the past year, a figure that rivals traditional payment systems.
The report also emphasizes infrastructure upgrades across blockchains like Ether and Solana, which have increased transaction speeds while lowering costs, as well as improved regulatory clarity in the US through supportive legislative actions, which have been major catalysts helping revive builder confidence and establish frameworks for digital asset oversight that balance innovation with investor protection.
World app expands into prediction markets
World, the digital identity project formerly known as Worldcoin, is expanding into prediction markets by integrating Polymarket. The company, which is led by OpenAI CEO Sam Altman, announced on Tuesday that its World app, a mobile app combining a digital wallet with a decentralized identity tool, has integrated the Polymarket app.
The launch of the Polymarket mini app on World enables World app users to place Polymarket bets directly from the World app wallet using Circle’s USDC or World’s token, Worldcoin.
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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Investor Insight
Apollo Silver is advancing two high-impact silver projects in premier North American jurisdictions—California and Chihuahua—offering investors a unique combination of scale, optionality, and leverage to silver and critical mineral demand.
Overview
Apollo Silver (TSXV:APGO,OTCQB:APGOF,FSE: 6ZF0) is a silver-focused company advancing a dual-asset strategy centered on two high-impact projects in North America: the Calico silver project in California, USA and the Cinco de Mayo project in Chihuahua, Mexico. Both are located in mining-friendly jurisdictions with strong infrastructure and significant historical work.
At Calico, Apollo Silver is advancing the Waterloo deposit toward development through geological modeling, barite resource definition, and engineering studies. Calico boasts 125 Moz of silver (measured and indicated) and 58 Moz of silver (inferred), and recent test work has produced a 94.6 percent barite concentrate, supporting the asset’s potential as a US critical minerals supplier.
In Mexico, Cinco de Mayo offers rare optionality with a historical inferred resource of 154 Moz silver equivalent (385 g/t), and a potentially game-changing discovery at the Pegaso Zone. The project is under an option agreement between Apollo Silver and Pan American (previously MAG Silver), wherein Apollo Silver will complete a 20,000-meter drill program to convert the option to an acquisition of the Cinco de Mayo. Apollo Silver’s strategy is underpinned by disciplined capital allocation, high-impact exploration, and a proven ability to acquire and unlock value from high-quality assets—following a model similar to Prime Mining. With no debt, strong institutional backing, and an experienced team, Apollo Silver is well-positioned to deliver scalable, discovery-driven growth in a rising silver and critical minerals market.
Company Highlights
- Tier-1 US Silver Asset – Calico Project: Hosts 125 Moz silver (Measured and Indicated) and 58 Moz silver (inferred), making it the largest undeveloped primary silver deposit in the US.
- Barite & Zinc Critical Minerals Exposure: Calico includes an Indicated resource estimate of 2.7 Mt of barite and 354M lbs of zinc and an Inferred resource estimate of 0.65Mt of barite and 258M lbs of zinc.
- High-grade Discovery Potential – Cinco de Mayo: An option to acquire a district-scale carbonate replacement deposit with a historical inferred resource of 154 Moz silver equivalent at 385 g/t, offering further upside from the Pegaso Zone discovery target.
- Strategic Shareholder Registry: Backed by Jupiter Asset Management, Eric Sprott, Terra Capital, Commodity Capital and Ninepoint.
- Experienced Leadership Team: Proven M&A, discovery and capital markets expertise with over $5 billion in past transactions and most applicable to Apollo Silver, the success at Prime Mining.
Key Projects
Calico Project
The Calico silver project comprises three adjacent properties—Waterloo, Langtry and Mule—located in mining-friendly San Bernardino County, 15 km from Barstow, California. Resources at Calico sit primarily on private land with vested mining rights, simplifying the path to permitting. Infrastructure is excellent: paved roads, power lines within 5 km, and proximity to the expanding Barstow rail terminal.
Using a 47 g/t silver equivalent cut-off grade, the Waterloo Deposit includes 125 M oz of silver in in 55Mt at an average grade of 71 g/t silver in the Measured and Indicated categories, and 0.51 Moz silver in 0.6 Mt at an average of 26 g/t silver in the Inferred category. The Langtry Deposit now contains 57 Moz silver in 24 Mt at an average grade of 73 g/t in the Inferred category, using a 43 g/t silver cut-off grade. The deposits are approximately 2 km apart, shallow, laterally extensive, and exhibit excellent geologic continuity. The mining concept would be a potential open-pit operation, with a minimal environmental footprint and where Waterloo would have a low strip ratio of 0.8:1.
Apollo Silver recently added critical mineral resources for both barite & zinc at the Calico project. Barite has shown recoveries above 94.6 percent in earlier test work. Waterloo includes an Indicated resource estimate of 2.7 Mt of barite and 354M lbs of zinc at an average grade of 7.4 percent barite and 0.45 percent zinc at a cut-off grade of 47 g/t silver equivalent. It also contains Inferred resource estimate of 0.65Mt of barite and 258M lbs of zinc, at an average grade of 3.9 percent barite and 0.71 percent zinc at a cut-off grade of 47 g/t silver equivalent.
The company has recently acquired 2,215 hectares of highly prospective claims contiguous to its Waterloo property at the Calico silver project referred to as the Mule claims comprising 418 lode mining claims. The Mule claims expand the Calico Project land package by over 285 percent, from 1,194 ha to 3,409 ha of contiguous claims.
Having recently announced its mineral resource estimate, ongoing 2025-26 programs are contemplated to include exploration for additional gold mineralization, with a subsequent targeted drill program contingent on positive early results, and metallurgical and geotechnical work program on Waterloo.
Cinco de Mayo Project
Cinco de Mayo is a district-scale carbonate replacement deposit (CRD) system located in Chihuahua, Mexico along the same NW-SE structural trend that hosts some of the country’s largest silver and base metal deposits. The project was historically MAG Silver’s flagship asset, hosting a 2012 historical mineral resource estimate prepared by RPA. At an NSR cut-off of US$100/t, the Inferred resources were estimated to total 12.45 Mt at 132 g/t silver, 0.24 g/t gold, 2.86 percent lead, and 6.47 percent zinc. The total contained metals in the resource were 52.7 Moz of silver, 785 Mlbs of lead, 1,777 Mlbs of zinc, and 96,000 ounces of gold. Notably, a significant mineralized intercept—including 61 meters of massive sulphides—was drilled by MAG Silver in the Pegaso Zone beneath the known resource but never followed up due to social access issues.
The site also includes the Pozo Seco deposit, which hosts an additional historical resource consisting of 29.1 Mt grading 0.147 percent molybdenum and 0.25 g/t gold, containing 94.0 Mlbs of molybdenum and 230,000 oz of gold, in the Indicated resource category. An Inferred Mineral Resources were estimated at 23.4 Mt grading 0.103 percent molybdenum and 0.17 g/t gold, containing 53.2 Mlbs of molybdenum and 129,000 oz of gold. Cut-off grade used in the 2010 technical report was 0.022 percent molybdenum.
Apollo Silver has secured an option to acquire the Cinco de Mayo property from Pan American (previously Mag Silver) and is re-engaging with the local community to secure surface access. A new, development-friendly ejido administration, elected in December 2024, has created an opportunity to negotiate a mutually beneficial agreement for access rights. Once secured, Apollo plans to launch a 20,000-meter drill campaign, with priority targets at Pegaso and expansion zones at Jose Manto.
Under the option agreement with Pan American, Apollo must secure surface access, complete the 20,000 meters of drilling, and issue 19.99 percent of its common shares to finalize the acquisition. The company is also evaluating metallurgical studies and engineering reviews to support a future resource update.
Management Team
Andrew Bowering – Chairman of the Board
A venture capitalist with over 30 years of operational experience, Andrew Bowering has raised over $500 million in value and capital for companies within the natural resources industry. He is the founder of Millennial Lithium and American Lithium, and he is a director and executive advisor to Prime Mining.
Ross McElroy – President and CEO
Ross McElroy is a professional geologist with over 38 years of experience in the mining industry, spanning operational and corporate roles with major, mid-tier, and junior companies worldwide. He played a pivotal role in the discoveries of several world-class uranium and gold deposits, many of which have advanced through development into mining operations. Most recently he was the CEO of Fission Uranium Corp, where he oversaw the sale of Fission for more than $1.14B to Paladin Energy.
Chris Cairns – Chief Financial Officer
Chris Cairns is a CPA, CA and brings more than 13 years of experience working in the finance and mining industries. He obtained his designation while at PwC, working with numerous Canadian and US-listed mining and exploration companies operating in North America, South America and Mongolia, before leaving to serve in roles as controller and CFO of two publicly listed mining exploration companies listed in Canada and the United States.
Rona Sellers – VP Commercial and Compliance and Corporate Secretary
Rona Sellers is an experienced governance professional with more than 13 years of experience in corporate and securities law. Previously, she was VP compliance and corporate secretary at Maple Gold Mines, and previous to that she held corporate secretarial roles at publicly traded companies listed in Canada and the United States.
Isabelle Lépine – Director, Mineral Resources
With over 25 years experience leading resource focused technical programs and teams, Isabelle Lépine brings extensive knowledge in mineral resource management to Apollo. Her significant experience ranges across the advanced stages of the resource development cycle through to mining. Most recently, she was director of mineral resources at Stornoway Diamonds.
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Sen. John Fetterman, D-Pa., told reporters on the 21st day of the government shutdown Tuesday that Democrats ‘ran on killing the filibuster, and now we love it.’
The Pennsylvania Democrat made the remark on Capitol Hill after being asked for his reaction to Republican senators proposing nuking the filibuster to force the government to reopen.
‘We ran on that. We ran on killing the filibuster, and now we love it,’ Fetterman said of Democrats.
‘I don’t want to hear any Democrat clutching their pearls about the filibuster. We all ran on it. I ran on that in my so, like, that’s, yeah,’ he added.
Fetterman also said it’s important to open the government so that Americans can get Supplemental Nutritional Assistance Program, known as SNAP, assistance, adding that, ‘America’s losing’ during the shutdown and that it’s time to ‘open it back up.’
House Republicans voted to pass the GOP’s government funding bill on Sept. 19, mostly along partisan lines.
It was a seven-week extension of fiscal year (FY) 2025 federal funding levels called a continuing resolution (CR), aimed at giving congressional negotiators more time to strike a longer-term deal on FY2026 spending.
But in the Senate, where at least several Democrats are needed to reach the 60-vote threshold to break a filibuster, progress has stalled.
Senate Democrats have tanked the bill in the upper chamber 11 times since the House passed it.
Three members of the Senate Democratic caucus have been voting with Republicans, but under the current tally, at least five more are needed to hold a final vote on the bill.
Fox News’ Elizabeth Elkind and Daniel Scully contributed to this report.
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A Senate Republican plans to launch a hearing to put political violence from the left under the microscope.
Sen. Eric Schmitt, R-Mo., plans to announce an upcoming hearing, dubbed ‘Politically Violent Attacks: A Threat to Our Constitutional Order,’ to examine the origins of political violence and extremism that he argued stemmed largely from the Democratic side of the political spectrum.
Schmitt, who chairs the Senate Judiciary Subcommittee on the Constitution, plans to hold the hearing on Oct. 28 and will examine the cross section of the First Amendment and political violence, specifically in the wake of the assassination of conservative activist Charlie Kirk.
‘The tragic assassination of Charlie Kirk shook the nation to its core, and it was the latest in a long list of examples of left-wing political violence,’ Schmitt said. ‘Many of these attacks come while Americans are exercising constitutionally protected core political speech.’
Kirk’s death prompted a brief moment of reprieve from the typically volatile back-and-forth on Capitol Hill, with many lawmakers on both sides of the aisle calling for a toning down of political rhetoric.
However, as the government shutdown has continued, lawmakers are once again trading barbs as frustrations mount.
The recent ‘No Kings’ rallies across the country renewed discussions among congressional Republicans about political violence among the left, which followed a recent roundtable held at the White House where President Donald Trump hosted independent journalists to share their experiences covering Antifa, a radical left-wing group that Trump recently designated a domestic terrorist organization.
So far, the only confirmed witness for the hearing is conservative commentator and podcast host Michael Knowles, a friend of Kirk’s who recently headlined a Turning Point USA rally at the University of Minnesota.
Knowles himself is no stranger to protests turning violent. He hosted a speaking event focused on transgender ideology at the University of Pittsburgh in 2023 where protesters threw smoke bombs and a firework, which led to a police officer being injured.
During a recent speech at Harvard where he addressed the incident, Knowles said, ‘The left simply commits more violence.’
Knowles lauded Schmitt for holding the hearing in a statement to Fox News Digital, and said that it would serve as an important moment ‘to discuss how Congress can reassert order and hold to account the left-wing ideologues undermining our public square.’
‘This recent uptick in left-wing violence is the culmination of years — really decades — of consistent assaults on their opponents,’ he said. ‘A ‘free marketplace of ideas’ simply cannot exist when ideological bandits keep shooting up the marketplace.’
Schmitt referenced both Kirk’s assassination and the University of Pittsburgh incident, along with protests that sprang up around the country following the death of George Floyd.
‘The rise of political violence on the left is deeply disturbing and antithetical to American values, disturbs the free exercise of our constitutional rights and is a threat to our constitutional order,’ he said.
‘Yet, instead of calling out the obvious, the powers that be continue to deny the reality that political violence comes predominantly from one side of the aisle,’ he said. ‘As chairman of the Senate Judiciary Subcommittee on the Constitution, I look forward to getting the American people the answers they deserve about the realities of left-wing political violence.’
Fox News Digital reached out to Knowles for comment but did not immediately hear back.
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Former Secretary of State Hillary Clinton recently made it known she is no fan of President Donald Trump’s project to construct a ballroom at the White House in an appeal to voters, telling them that 1600 Pennsylvania Ave. is their ‘house.’
‘It’s not his house,’ Clinton wrote on X Tuesday morning. ‘It’s your house. And he’s destroying it.’
The social media post included a screenshot of The Washington Post’s report, ‘White House begins demolishing East Wing Facade to build Trump’s ballroom,’ accompanied by a photo of a demolition crew.
‘President Trump is working 24/7 to Make America Great Again, including his historic beautification of the White House, at no taxpayer expense,’ White House spokesman Davis Ingle told Fox News Digital when asked about Clinton’s post and other Democrats criticizing the ballroom construction. ‘These long-needed upgrades will benefit generations of future presidents and American visitors to the People’s House.’
Trump announced Monday that construction had begun on the ballroom, following months of the president floating the planned project to modernize the White House. The project does not cost taxpayers and is privately funded, the White House reported.
‘I am pleased to announce that ground has been broken on the White House grounds to build the new, big, beautiful White House Ballroom,’ Trump said on Truth Social. ‘Completely separate from the White House itself, the East Wing is being fully modernized as part of this process, and will be more beautiful than ever when it is complete!’
‘For more than 150 years, every President has dreamt about having a Ballroom at the White House to accommodate people for grand parties, State Visits, etc. I am honored to be the first President to finally get this much-needed project underway — with zero cost to the American Taxpayer!’ he continued. ‘The White House Ballroom is being privately funded by many generous Patriots, Great American Companies, and, yours truly. This Ballroom will be happily used for Generations to come!’
The privately funded project will cost an estimated $200 million, White House press secretary Karoline Leavitt told the media in July. The 90,000-square-foot ballroom will accommodate approximately 650 seated guests, according to the White House.
‘The White House is currently unable to host major functions honoring world leaders in other countries without having to install a large and unsightly tent approximately 100 yards away from the main building’s entrance,’ Leavitt said back in July, adding the new ballroom will be ‘a much needed and exquisite addition.’
Other Democrats also have slammed the construction project, including New Jersey Sen. Andy Kim calling it ‘disgusting.’
‘I wanted to share this photo of my family standing by a historic part of the White House that was just torn down today by Trump,’ Kim posted to X on Monday. ‘We didn’t need a billionaire-funded ballroom to celebrate America. Disgusting what Trump is doing.’
‘Oh you’re trying to say the cost of living is skyrocketing? Donald Trump can’t hear you over the sound of bulldozers demolishing a wing of the White House to build a new grand ballroom,’ Massachusetts Sen. Elizabeth Warren posted to X on Monday.
‘Republican math. Can afford: Trump ballroom, $40 Billion Argentina bailout, massive tax cuts for millionaires and billionaires Can’t afford: health care for Americans, SNAP for struggling Americans, tax relief for middle class families,’ Pennsylvania state Rep. Malcolm Kenyatta posted to X.
The ballroom construction follows Trump installing two massive 88-foot-tall American flags on either side of the White House this summer in a patriotic endeavor that did not cost U.S. taxpayers a cent, as well as an overhaul to the White House Rose Garden.
Fox News Digital’s Greg Wehner contributed to this article.
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Sen. Richard Blumenthal, D-Conn., said first lady Melania Trump could play a critical role in winning the White House’s support for congressional sanctions on Russia.
‘I think the first lady is our secret weapon,’ Blumenthal said Tuesday.
The remark comes as lawmakers weigh whether to advance a Russia sanctions bill that has been in the works for months. The measure enjoys wide bipartisan support in both chambers of Congress, but its future remains uncertain as President Donald Trump recently signaled hesitations about putting his weight behind it.
The Sanctioning Russia Act of 2025 has 84 cosponsors in the Senate and 113 in the House of Representatives.
If passed, the sanctions package would grant the President of the United States enhanced powers to block energy sales, block visas, halt investment listings, impose tariffs of up to 500%, and more. Those measures are conditioned on the president’s determination that Russia isn’t engaging in good-faith efforts to end the war.
Blumenthal, a coauthor of the legislation alongside Sen. Lindsey Graham, R-S.C., believes the moment is ripe to advance the package — even as Trump last week told reporters that ‘it might not be perfect timing’ for new sanctions.
Blumenthal believes the first lady could change the president’s outlook.
‘She is obviously deeply disturbed about the kidnapping of children, which is emblematic of war criminality. I see the need to move our bill as a signal to prove that you can’t slow-walk us and mock us indefinitely,’ Blumenthal said.
Melania Trump announced earlier this month that she had engaged in direct communications with Russian President Vladimir Putin over efforts to reunite Ukrainian children that had been abducted amid the ongoing war between Russia and Ukraine. Through those efforts, she helped secure the return of eight Ukrainian children.
‘Putin understands only strength and force, military and economic. I’m very hopeful [Trump] will see the urgency of now,’ Blumenthal said.
Senate Majority Leader John Thune, R-S.D., told audiences last week that he may bring the bill to a vote in the next 30 days but hinted that parts of the bill may need revision before its consideration.
He did not lay out what areas of the bill need to be addressed.
The White House did not immediately respond to Fox News Digital’s request for comment.
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A group of House Republicans is raising concerns about the potential effects of the U.S. importing Argentinian beef after President Donald Trump floated the idea earlier this week.
Rep. Julie Fedorchak, R-N.D., is leading seven other House GOP lawmakers in a letter to the president on Tuesday evening, warning the potential plan has rattled the multibillion-dollar American ranching industry.
‘America’s cattle producers are among the most resilient and hardworking in the nation,’ the Republicans wrote. ‘Collectively, the cattle industry supports thousands of jobs across our districts and contributes $112 billion to rural economies nationwide.’
‘In recent days, we have heard strong concerns from producers regarding reports that the U.S. may import beef from Argentina.’
The House Republicans acknowledged the ‘importance of strong trade relationships and diverse markets’ but added that beef producers in their districts ‘are seeking clarity on how this decision will be made, what safety and inspection standards will apply, and how this policy aligns with your administration’s commitment to strengthening American agriculture.’
Trump suggested Sunday that buying beef from Argentina could help lower prices for Americans at home, amid a wider promise to lower costs for U.S. citizens.
‘One of the things we’re thinking about doing is beef from Argentina,’ Trump told reporters aboard Air Force One.
He later elaborated in his conversation with reporters, ‘We would buy some beef from Argentina. If we do that, that will bring our beef prices down.’
‘Our groceries are down, our energy prices are down. I think we’re going to have $2 gasoline pretty soon. We’re getting close and everything’s down. The one thing that’s kept up is beef,’ Trump said.
He added that it would not be ‘that much’ but argued it would help Argentina, a U.S. ally, as well.
But the House Republicans questioned whether imported beef would be held to the same food safety and animal health requirements as that of the U.S., which they called ‘the gold standard.’
‘Any import policy must hold foreign suppliers to those same rigorous standards. Introducing beef from countries with inconsistent safety or inspection records could undermine the confidence that U.S. ranchers have worked decades to earn,’ the lawmakers warned.
‘We respectfully request additional information on this matter and urge your administration to ensure that any future decisions are made with full transparency, sound science, and a firm commitment to the U.S. cattle industry. America’s producers can compete with anyone in the world. If given an opportunity, they will continue to respond quickly to the market demand for more quality American beef in our grocery stores.’
In addition to Fedorchak, the letter is also signed by Reps. Michelle Fischbach, R-Minn., Troy Downing, R-Mont., Gabe Evans, R-Colo., Dusty Johnson, R-S.D., Derek Schmidt, R-Kan., Jeff Hurd, R-Colo., and Republican Study Committee Chair August Pfluger, R-Texas.
White House spokesman Kush Desai told Fox News Digital in response, ‘The Trump administration remains committed to addressing the needs and concerns of American cattle producers and safeguarding their interests at home and abroad. That’s why the administration has secured billions in new export opportunities for American agricultural products in our historic trade deals with the UK, Japan, the EU, and others.’
‘It’s also why the administration is focused on reversing a prolonged decrease in the supply of live cattle by growing American cattle herds with robust action to deliver disaster relief to cattle country, support new ranchers, and reduce risk for cattle producers,’ Desai said.
Trump’s proposal has stirred some anxiety among some Republicans whose constituencies depend on cattle ranching.
Sen. Deb Fischer, R-Neb., posted on X Tuesday, ‘If the goal is addressing beef prices at the grocery store, this isn’t the way.’
‘The U.S. has safe, reliable beef, and it is the one bright spot in our struggling ag economy. Nebraska’s ranchers cannot afford to have the rug pulled out from under them when they’re just getting ahead or simply breaking even,’ Fischer wrote.
Meanwhile, Fox News Digital was told that Rep. Harriet Hageman, R-Wyo., also raised significant concerns about what importing beef from Argentina could do to the U.S. cattle ranching industry during a call with fellow House Republicans on Tuesday.
But some Republican responses were more muted. Sen. Markwayne Mullin, R-Okla., told reporters that Trump ‘definitely identified a problem’ regarding a shortage of cattle in the U.S. He added, ‘I understand what he’s trying to get done. I think there’s more ways to implement it.’
Fedorchak herself told Fox News Digital, ‘We’ve all received a number of questions and calls from our constituents over the last few days, so we are asking for clarity on the administration’s long-term plans. Our farmers and ranchers stand ready to deliver on the president’s America-First agenda. North Dakotans take great pride in producing the safest, highest-quality beef in the world — and we should be building on that success.’
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