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Generation Mining (TSX: GENM) shares soared to a two-year high on Friday as it spotlighted the strong support given to its Marathon copper-palladium project by the Ontario government. Located 300 km east of Thunder Bay, northwestern Ontario, Marathon represents Canada’s next shovel-ready critical minerals project after receiving its final construction permit last month. Once in operation, it would be one of North America’s few palladium producers and a key producer of copper. Both metals are essential ingredients in the manufacturing of hybrid and electric vehicles. Shortly after the permitting milestone, Generation received a letter from an unnamed Canadian financial institution stating its interest in lending up to C$200 million for the Marathon project’s construction. On Friday, several ministers from the Ontario government gave further endorsement by issuing an open letter to Canada’s Minister of Energy and Natural Resources, Tim Hodgson, for federal support for what would be a minerals project “critical to building a secure, domestic supply chain.” Generation Mining surged on the news, rising over 22% to C$0.44 apiece to trade at its highest since July 2023. The company’s market capitalization is estimated at C$99.2 million. Billion-dollar project According to a feasibility study released in March 2025, the Marathon mine is expected to produce 168,000 oz. of palladium and 42 million lb. of copper, plus 38,000 oz. of platinum, 12,000 oz. of gold and 240,000 oz. of silver, on an annual basis over a 13-year span. Based on the improved output projections over prior studies, the project would have an after-tax net present value of more than C$1 billion, an internal rate of return of 28% and a 1.9-year payback period, the report showed. “Now that we are fully permitted for construction, the last hurdle is bringing together the necessary funding to build our mine and commence production,” Generation Mining CEO Jamie Levy stated in Friday’s press release. As calculated in the feasibility study, the project’s construction is expected to cost around $990 million. The company currently has access to C$200 million in financing through a metals streaming agreement with Wheaton Precious Metals (TSX: WPM).

Tim Draper, a Silicon Valley venture capitalist, has doubled down on his call for Bitcoin to hit $250,000 by the end of 2025. He shared this on X, renewing a prediction he first made in 2018 when he set his sights on reaching that mark by 2022. Back then, the crypto market took a sharp downturn in 2022—thanks in part to FTX’s collapse—and the timeline slipped. Still, Draper believes today’s drivers are strong enough to push prices higher. He even suggested that the US dollar might vanish in a decade as Bitcoin takes its place. Tim Draper’s Bold Timeline According to Draper, the $250,000 target isn’t just wishful thinking. In 2018, he said Bitcoin would reach that level by 2022. It didn’t happen—2022 saw many digital assets tumble in value. This year, though, he repeated his forecast after seeing a “recent surge” in the crypto. He also claimed Bitcoin could become “infinite against the dollar,” arguing that in 10 years the US dollar wouldn’t exist. His confident tone suggests he’s sticking with the same numbers—$250,000 by December 31, 2025. Political And Regulatory Drivers Based on reports, Draper points to politics as a big catalyst. He highlighted moves by US President Donald Trump, who is working on new trade deals. One sign of this push is the Media & Technology Group’s filing on June 5, 2025, for a Truth Social Bitcoin ETF. That application is headed to the NYSE Arca, with Crypto.com lined up as custodian, and it aims to bring more mainstream money into Bitcoin. On the regulatory front, the US Senate voted 66–32 on May 19 to advance the GENIUS Act, which would set rules for stablecoins. Plus, the Digital Asset Market Clarity Act of 2025 is under debate. It has bipartisan support and is meant to spell out clear rules for crypto. Financial Institutions And Adoption Draper also sees banks and big companies stepping in. He mentioned that JP Morgan plans to let its clients buy Bitcoin and use spot-BTC ETFs—like BlackRock’s IBIT—as collateral. That shift could open doors to a flood of institutional cash. Meanwhile, according to Bitcoin Treasuries data, Michael Saylor’s Strategy leads the pack, holding over 580,000 BTC. At current prices, that stash is worth about $61 billion. These moves, Draper argues, point to people treating Bitcoin more like gold than a risky token. Technological Advances On Bitcoin In his view, the tech upgrades on Bitcoin matter too. He talked about Web3 apps built on Bitcoin and said “Layer 2 solutions give Bitcoin the flexibility of Ethereum.” Right now, Lightning Network handles many Bitcoin transactions, making payments faster and cheaper. Featured image from Imagen, chart from TradingView

Gold had been climbing steadily despite the overall risk-on sentiment this week. However, this morning’s stronger-than-expected Non-Farm Payrolls report failed to give the safe-haven asset any additional lift. The rejection at higher levels suggests a lower likelihood of a retest of the all-time highs, which remain at $3,500 - although with this year's volatility, everything is possible. The Bullion, which was up 3% at its weekly highs is now up only 1.26% - Let's dive into a technical analysis as we stand on the current pivot. Gold Technical Analysis from Daily to Hourly charts Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

The Mosaic Company (NYSE: MOS) has lowered its full-year 2025 phosphate production guidance as the fertilizer giant navigates a series of operational challenges across key U.S. facilities. The revision weighed on its stock, which slipped more than 3% in Friday trading. Mosaic now expects to produce between 7.0 million and 7.3 million tonnes of phosphate this year, down from its previous guidance of 7.2 million to 7.6 million tonnes. Second-quarter phosphate sales volumes have also been scaled back to 1.5–1.6 million tonnes, compared to the earlier forecast of 1.7–1.9 million tonnes. Despite the production setback, Mosaic raised its pricing outlook for diammonium phosphate (DAP) to $650–$670 per tonne, citing strong market conditions. This marks an increase from the prior forecast of $635–$655 per tonne. The company said its Bartow phosphate facility in Florida is operating at its target rate and is expected to deliver over 500,000 tonnes in Q2, consistent with an annual run rate exceeding 2 million tonnes. However, at its New Wales facility, commissioning delays for new gypsum handling systems continue to limit output. Although production at New Wales is set to rise more than 20% from the first quarter, Mosaic noted that ramp-up of the first of three new systems took longer than planned. Installation of the remaining systems is expected to wrap up by early July, potentially boosting the site’s run rate to 3 million tonnes annually. Elsewhere, the Riverview facility underperformed due to extended downtime aimed at resolving bottlenecks. Mosaic anticipates the plant will reach a run rate equivalent to 1.6 million tonnes annually in the third quarter. In Louisiana, routine maintenance revealed additional repair needs, resulting in prolonged outages and lost output. In the third quarter, Louisiana is expected to perform at its target annual run rate of 1.4 million tonnes. Mosaic’s potash business remains on track, with no changes to its guidance. The company continues to target second-quarter sales of 2.3–2.5 million tonnes and full-year production of 9.0–9.4 million tonnes.

Gold prices fell by nearly 1% on Friday as a stronger-than-expected US jobs report alleviated some economic concerns despite lingering geopolitical uncertainty. Spot gold traded 0.8% lower at just under $3,330 an ounce as of 10:40 a.m. ET, after hitting as high as $3,375.37 earlier in the day. Gold futures also dropped 0.9% to $3,344.10 an ounce in New York. The decline follows new US data that showed a largely stable labour market for the month of May. Non-farm payrolls increased by 139,000 compared with the 130,000 forecast in a Reuters poll, while the unemployment rate stood in line with estimates at 4.2%. Data came in line with estimates, which is a negative for gold as the data suggests that the Fed is going to stay on hold for a little while, said Marex analyst Edward Meir. Federal Reserve policymakers are seen as waiting until September to cut rates, with just one more cut in view by December, based on trading in short-term interest-rate futures. A rate cut would bode well for gold, as it yields no interest. On the trade policy front, there was little clarity after the highly anticipated call between US President Donald Trump and Chinese leader Xi Jinping on Thursday. “These are very difficult negotiations and they’re not going to be solved just on the phone. If the tariff headlines become negative, that’s bullish for gold,” Meir added. So far this year, bullion has gained nearly 25% as investors rushed to the safe-haven metal amid heightened global tensions. In April, it set an all-time high of $3,500.05 an ounce. Elsewhere, silver extended its rally to hit $36.35 an ounce, setting a new 13-year high, before paring gains. Gains in silver “looks like it was driven by speculative flows seeing it way too cheap versus gold, the break above the $35/oz. mark amplified the move,” said Giovanni Staunovo, UBS analyst. (With files from Reuters)

The Ethereum (ETH) price experienced a significant decline on Thursday, falling over 7% and approaching the $2,400 mark. However, expert analysis suggests that a new bullish trend may soon emerge for the second-largest cryptocurrency. Key Metrics Indicate Accumulation By Larger Investors Market analyst Lark Davis took to social media platform X (formerly Twitter) to share insights on Ethereum’s potential. He noted that various on-chain metrics and market behaviors indicate an impending breakout for the ETH price. Notably, Ethereum has been outperforming Bitcoin (BTC) in the second quarter of the year, suggesting growing investor confidence. The recent Pectra upgrade has improved Ethereum’s scalability and reduced its inflation rate, making it more attractive to investors. Additionally, the expert highlights that with exchange balances hitting seven-year lows and substantial inflows into Ethereum exchange-traded funds (ETFs), it appears that larger investors are accumulating ETH for the long term. Despite these bullish indicators, Davis cautioned that not all market participants share this optimistic outlook. Betting markets on Polymarket currently assign only a 27% chance that Ethereum will reach a new all-time high by 2025. Critical Support For Ethereum Amid Political Disputes The broader cryptocurrency market also faced challenges on Thursday, with total market capitalization dropping from $3.30 trillion to approximately $3.12 trillion. Bitcoin, XRP, and Solana (SOL) were among the notable cryptocurrencies experiencing losses, retracing by 3%, 5%, and 6%, respectively. In a separate but related development, tensions between US President Donald Trump and his former adviser Elon Musk have surfaced, adding to the day’s market volatility. Trump expressed disappointment over Musk’s criticism of a key tax and spending bill from his administration, suggesting that their “great relationship” may be nearing its end. Musk retaliated by accusing Trump of ingratitude, claiming his support was instrumental in Trump’s election victory. This public dispute has drawn attention to the intersection of US politics and cryptocurrency, a dynamic that market analyst Income Sharks noted in a recent post on Elon Musk’s social media site, X. The analyst remarked on the swift impact of political conflicts on crypto markets, emphasizing that the Ethereum price has not yet lost critical support levels. Income Sharks, in his analysis, identified the $2,390 mark as a crucial support point for the altcoin in the immediate term, which could determine the next upward targets of $3,000 and $4,000. While trading at $2,406 when writing, Ethereum finds itself well below its all-time high reached during the market’s last bullish cycle in 2021. As of now, the altcoin stands 50% below its record of $4,878, according to CoinGecko data. Featured image from DALL-E, chart from TradingView.com

Following a better-than-expected NFP report, both the dollar and US equities are trading higher. Since the release, the Dow Jones is up ~0.84%, the Nasdaq-100 by ~0.64%, and the S&P 500 by ~0.73%, respectively. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

The combination of Equinox Gold (TSX, NYSE-A: EQX) and Calibre Mining (TSX: CXB) should move the new company up to the fourth largest gold producer in Canada even as it looks to trim its portfolio of non-core assets. The C$2.56 billion ($1.83 billion) all-stock deal, set to close this month, will bring to nine the number of producing mines under Equinox from the current seven, as well as Calibre’s Valentine project in Newfoundland that’s currently under construction. Calibre operates one mine in Nevada, and its three sites in Nicaragua are counted as one under the company’s hub and spoke model. Equinox will have gold reserves of about 24 million ounces. “It makes sense where one and one is what becomes three,” Equinox board chair Ross Beaty told The Northern Miner in an early May phone interview. “We should graduate to a subset of gold producers that are very large, as opposed to mid-cap. To the extent that we end up producing more than 1 million oz. [of gold] a year, we expect to trade at a higher multiple as a result of getting bigger. We also have the effect of having many operational synergies to drive our costs down.” The combination, approved by shareholders on May 1 will create the newest large Canadian producer. It will also bring two low-cost assets under the same umbrella – Equinox’s Greenstone open-pit mine in northern Ontario, which achieved commercial production last November; and Valentine, where the first gold pour is expected at the end of the third quarter. The move gives Equinox exposure to Canada’s east coast and further expands its reach into Latin America. The deal follows a series of other gold sector transactions over the past 18 months, including Gold Fields’ (NYSE, JSE: GFI) purchase of Osisko Mining, Newmont’s (TSX: NGT; NYSE: NEM) Newcrest purchase and AngloGold Ashanti’s (NYSE: AU) acquisition of Centamin. Rise to fourth place With targeted annual output of more than 1 million oz., the new Equinox could end up in fourth place among Canadian gold producers – between Kinross Gold (TSX: K; NYSE: KGC) in the third spot and B2Gold (TSX: BTO; NYSE-A: BTG; NSX: B2G) in fifth. Kinross produced 2.13 million oz. last year, compared with B2Gold’s 804,778 ounces. Equinox booked 621,893 oz. in 2024 and Calibre logged 242,487 ounces. At a hypothetical market cap of C$5 billion to C$7 billion, and if analysts re-rate Equinox at a higher valuation due to better profitability or less risk, it would again rank fourth between Kinross and B2Gold. Equinox is currently valued at just over C$4 billion, and Calibre at C$2.64 billion. The integration of the Calibre assets will be key to achieving a re-rate, Canaccord Genuity analyst Jeremy Hoy said in a note. “The combined company provides investors with increased exposure to tier-one Canada, a larger and more diversified platform with a coherent focus on the Americas, enhanced capital markets profile, and a strengthened team,” he said in April. Projects pending Producing more than 1 million oz. a year will “certainly” happen within the next five years, Beaty said. Equinox is awaiting permits on a few projects, such as Castle Mountain in California, where a second stage expansion will add 200,000 oz. to production. Equinox had planned a growth project at its Los Filos mine in southwest Mexico that would have extended the mine life by four years and raised production to 280,000 oz. per year, a 64% increase from its current capacity. However, the company suspended the mine in April after it managed to reach land use agreements with only two out of three local communities. “We’re [waiting] for one of the communities to agree with a revised agreement that we’ve put in front of them,” Beaty said. A March letter signed by almost 100 community and human rights groups from Mexico, Canada and internationally alleges various threats against the local Carrizalillo community. The letter, addressed to Equinox CEO Greg Smith, claims the community has lost agricultural lands and water sources to the mine, and it decried the company’s alleged inflexible stance in negotiations for an agreement. Another factor likely to impact its ranking is streamlining of operations. “We’ll end up with nine or 10 mines,” Beaty said. “We’ve built bought and sold mines. We’ll do that again in the next while once we complete the Calibre merger. I won’t say what they’ll be, but they’ll improve our cost structure, and we’ll use the proceeds to retire our debt even more than quickly. We’ll make a call on which operations to look at over the next six or nine months.” Gold rally As the yellow metal has risen 27% this year, touching an historic high of $3,500 per oz. on April 22, the shares of Canada’s top producers have gained at least 20%. Equinox has gained by 22% and Calibre rose by 42%. “The rise in the gold price is nothing but positive for the entire gold space,” Beaty said. “It’s particularly good for the larger producers, because the larger production you have, the more leverage you have to higher gold prices. I don’t think it’s over. I can’t predict how high it’s going to go and when it’s going to peak out, but it is on a glorious run right now.” Goldilocks zone move While Equinox is taking on some political risk by acquiring the Nicaragua assets, the merger differs from much of the M&A activity during the gold super cycle of 2001-2011. At C$2.56 billion, the Equinox merger is smaller than the super cycle deals, includes low-cost producing mines and being all-stock it reduces balance sheet risk. Beaty said he’s not leery about the rising price of gold pushing up the costs of M&A for producers. “The gold price normally would bid up all companies but not this time because of the disconnect between the gold price and the equities,” he said, pointing to the under-valuing of both junior explorers and major producers over the last two and a half years amid rising gold prices. Meantime, Beaty believes gold’s current bull run could be set to benefit all players in the metal’s exploration and production space. “As cash flows are generated and returned to shareholders, you’re going to see a significant market pickup amongst the big gold producers, followed by the intermediate gold producers, followed by the junior explorers,” he said. “That is what has always happened, and when that happens, I expect you’re going to see quite a significant bump in the valuations being afforded to the junior explorers in Canada and internationally.”

North-American currencies are leading majors this morning with the employment data beating expectations in the US and Canada. US Non-Farm Payrolls Came at 139K vs 130K expected - but it seems like the market is extrapolating the info even more as ADP missed in the beginning of the week: The greenback is rallying strongly and risk assets are enjoying from the tone. With Canadian data coming in at +8.8K vs -15K expected, the employment data from the Canuck has been surprising to the upside for a few months now. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

What are the current Bitcoin price trends? To find that out, we have to look at the macro, and it ain’t looking great. Bitcoin is holding just above $103,000 as investors parse a wave of murky economic signals. The U.S. Dollar Index sits at 98.80, weighed down by soft labor numbers and underwhelming services data. The Fed, offering little in the way of clarity, has left both traditional and crypto markets in a holding pattern. 24h7d30d1yAll time DISCOVER: 20+ Next Crypto to Explode in 2025 Labor Market Weakness Weighs on the Dollar Jobless claims hit 247,000 last week. That’s two straight weeks of increases and the highest since October. ADP numbers came in cold, too, with just 37,000 new jobs in May. With NFP estimates now slashed to 130,000, down from last month’s 177,000, the labor market appears to be losing steam. Fed policymakers aren’t budging. Neel Kashkari made clear the Fed won’t rush to cut rates, keeping investors in limbo. The ISM Services PMI didn’t help. A dip to 52.0 suggests the service sector is starting to slow, raising fresh doubts about the strength of the recovery. Between labor jitters and trade uncertainty, the case for a rate cut is building—but slowly. DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now Bitcoin Price Trends Maintain Stability Bitcoin hovered near $103,000 Friday morning, slipping 1.11% in 24 hours but holding its ground within a tight range. The price action reflects a broader market pause, with BTC acting more like a macro sentiment gauge than a speculative outlier. With the U.S. Dollar Index drifting and no clear market driver, Bitcoin’s recent consolidation between $100,000 and $105,000 tracks closely with technical levels. A real breakout may hinge on a softening Fed or a geopolitical cool-down. How DXY Movements and Bitcoin Price Trends Intersect Dollar bulls are stuck. Bitcoin isn’t exactly flying, but it’s holding firm. As the U.S. Dollar Index hovers below its 50-day EMA and Bitcoin grinds sideways above $100K, both markets are circling the same question: What comes next? That answer may arrive with Friday’s NFP report. A strong print could send the dollar toward resistance, while Bitcoin might finally feel some tailwinds. A weak report, though, and the whole picture shifts. EXPLORE: XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress Key Takeaways What are the current Bitcoin price trends? To find that out, we have to look at the macro data. Dollar bulls are stuck. Bitcoin isn’t exactly flying either, but it’s holding firm. The post Bitcoin Price Trends: U.S. Dollar Index Wobbles on Mixed Economic Signals while BTC Seeks Stability appeared first on 99Bitcoins.

Tesla shares (TSLA.O) recovered from big losses after tensions between CEO Elon Musk and U.S. President Donald Trump seemed to calm down, reducing investor concerns about potential political issues for the electric car company. close Source: TradingView.com /media/images/TL0_2025-06-06_14-21-16.width-1400.png Source: TradingView.com Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

Bitcoin’s majestic 2024-25 ascent may have stalled at the very moment many traders expected an early-summer melt-up, according to crypto analyst Dr Cat (@DoctorCatX). In an extended thread published today, the Ichimoku-focused technician argues that the market printed a “valid cycle high” on the weekly chart and has now slipped into neutral territory—potentially postponing the next decisive breakout until mid-July or, failing that, as late as the first quarter of 2026. Bitcoin Bottom Not In? “I warned multiple times that we can’t be bullish on the weekly before the 9th of June,” Dr Cat reminded followers. The Chiko Span (CS) “entered the candles” last week, he noted, stripping the weekly timeframe of its bullish bias even though the long-term monthly structure remains intact. “Because the monthly chart is bullish, things are still long-term bullish,” he conceded, yet the immediate path higher has narrowed to two clear windows. The first window opens in the week beginning 16 June. If Bitcoin starts that week above $99,881 and closes with CS breaking cleanly above the candle range, Dr Cat believes “the moonshot, potentially to $270,000,” could ignite. Should price open below that threshold, a textbook CS tracing pattern would already be underway, pushing the next breakout target to the week commencing 14 July (or the one immediately after). “Simply because these are the places where CS can make a clear breakout above the candles terminating a CS tracing,” he explained. Below $93,200—the current position of the weekly Kijun Sen—the bullish countdown is voided. “If the Kijun Sen at 93.2K is lost, we consider much later breakout,” Dr Cat warned, pointing traders to a broad monthly window between November 2025 and April 2026 when the Kijun Sen itself is expected to slope upward again. Until then, he is “not confident that the bottom is in,” flagging $97–98 K as a short-term confluence zone in which the daily Kumo cloud, the weekly Tenkan Sen and the two-day Kijun Sen intersect. The analysis comes at a delicate moment for sentiment. Bitcoin’s April all-time high above $111,999 has so far resisted several retests, and funding rates on major derivatives venues have eased from euphoric to merely positive. For Dr Cat, such moderation is consistent with Ichimoku’s Kihon Suchi 17-period rhythm: “Time cycles … give a valid cycle high on the weekly. I think at this point it obviously printed,” he wrote, implying that a fresh consolidation phase is statistically favored. Altcoin Season Even Further Delayed Altcoins face an even steeper uphill battle. In a companion post dissecting the TOTAL3 index (the market capitalization of all crypto assets excluding Bitcoin and Ethereum), Dr Cat argued that “altcoins are not ready to pump on the weekly and need minimum 1-2 months for that in the most bullish scenario.” He cited four overlapping bearish ingredients: price below the weekly Kijun Sen, a negative Tenkan–Kijun cross, a Chiko Span trapped beneath the candle “forest,” and a Kijun Sen poised to turn down next week. “The chance for a bullish altcoins explosion in June is around 5 %,” he concluded, assigning a roughly equal probability that Bitcoin alone could rally while “dominance destroys alts.” That dour appraisal extends to Ethereum and other large caps. In Dr Cat’s view, “blindness … applies to anyone expecting a parabolic bull run above ATH in June for TOTAL3.” The first legitimate “window of opportunity for altcoin bulls,” he adds, does not open until August, when the weekly CS will encounter a thinner overhang of historic candles. Market implications hinge on whether Bitcoin can defend its higher-timeframe pivots long enough to align with those temporal windows. So far, the $93.200 Kijun Sen serves as the demarcation line between an orderly pause and a deeper retracement. A weekly close beneath it would “activate” the November-to-April contingency track—effectively pushing any move toward Dr Cat’s headline $270,000 projection into the next halving cycle. At press time, BTC traded at $103,072.

In May 2025, the U.S. added 139,000 jobs, slightly less than April's revised 147,000 but above the expected 130,000. Job growth was strong in health care (62,000 new jobs), especially in hospitals (30,000) and outpatient services (29,000). Leisure and hospitality added 48,000 jobs, mostly in restaurants and bars (30,000), while social assistance grew by 16,000 jobs. However, the federal government lost 22,000 jobs in May and has cut 59,000 jobs since January. Manufacturing also saw a small decline, losing 8,000 jobs. Additionally, job numbers for March and April were revised down, showing 95,000 fewer jobs than previously reported. Overall, the labor market is slowing but still strong. However, recent policy changes from the Trump administration could lead to fewer jobs in the coming months. After the data rate futures traders see 2 Fed rate cuts this year, in September and December. Implications of the Data The initial market reaction was mixed but the Dow Jones did rally near 200 points as market participants digested the data. Updates to follow Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

Recently, the US Department of Justice (DoJ) filed a complaint in a US District Court in Columbia to forfeit over $7.74 million in crypto linked to North Korean laundering activities. In a press release published on 5 June 2025, the DoJ threw light on a broader scheme in which North Korean IT workers obtained illegal employment in the US or other international companies by providing fraudulent identification documents. The DOJ’s action in this instance stems from a particular case from 2023. In this case Sim Hyon Sop, a representative of North Korea’s Foreign Trade Bank, facilitated the transfer of millions of dollars raised by illegal North Korean IT workers. Subsequently, the US authorities were able to jump in and salvage the situation by freezing and then seizing the funds when North Korean operatives tried to launder the amount. Matthew R Galeotti, the head of the Justice Department’s Criminal Division, said, “This forfeiture action highlights, once again, the North Korean government’s exploitation of the cryptocurrency ecosystem to fund its illicit priorities.” “The department will use every legal tool at its disposal to safeguard the cryptocurrency ecosystem and deny North Korea its ill-gotten gains in violation of US sanctions,” he added. Explore: Best New Cryptocurrencies to Invest in 2025 Technicalities of the North Korean Crypto Laundering Operations According to the complaint filed by the DoJ, the North Korean IT workers concealed their location. They sidestepped security protocols followed by various companies by using illegally obtained identification documents. Furthermore, these workers received their compensation in stablecoins pegged to the USD and transferred them back to North Korea through various techniques. They created an account using a fake identity, transfer funds in small amounts, convert the funds into different cryptocurrencies, and buy NFTs to conceal their assets, among other methods. Additionally, these North Korean IT scammers also employed individuals such as North Korea’s Foreign Trade Bank representative Sop and the US-sanctioned Kim Sang Man, the Chief Operating Officer of Chinyong IT Cooperation Company, allegedly a front for Pyongyang’s Ministry of Defence. The DoJ launched its DPRK (The Democratic People’s Republic of Korea) RevGen initiative in 2024. The DoJ made multiple arrests, indictments, and seizures in connection with North Korean perpetrators raising funds for the country’s military projects, leading to the forfeiture complaint. Explore: 9+ Best High-Risk, High-Reward Crypto to Buy in June 2025 Washington’s Renewed Crackdown on Money Laundering The complaint filed by the DoJ signifies a renewed vigour in the US authorities to sanction North Korean money laundering activities. US Attorney Jeanine Ferris Pirro for the District of Columbia said, “Crime may pay in other countries, but that’s not how it works here. Sanctions are in place against North Korea for a reason, and we will diligently investigate and prosecute anyone who tries to evade them.” North Korean hackers have recently begun to integrate AI into their operating procedures to craft more sophisticated schemes, leading Google and OpenAI to remove North Korean-linked accounts. Allegedly, the North Korean scammers automated resume creation, job applications and researching the establishment of laptop farms in coordination with intermediaries to facilitate their remote jobs. On 5 June 2025, OpenAI reconfirmed its plans to ban accounts suspected of deceptive employment schemes by crafting fake profiles and personas with fake employment histories. Explore: 10+ Crypto Tokens That Can Hit 1000x in 2025 Key Takeaways North Korean Illegal IT workers hid their identity using fake identification documents to secure remote employment in the US North Korean hackers have incorporated AI in their operating procedures to secure remote US employment Open AI and Google have removed accounts linked to North Korean IT work clusters The post US DoJ Moves to Seize $7.7M Linked to North Korean Crypto Laundering Case appeared first on 99Bitcoins.

Call it the world’s weirdest breakup: Elon and Trump. So why is crypto crashing? This is the reason why. The love fest between the two men could be over. They were fighting the entire time, but it finally hit a breaking point. Both egos are too big. Knives are out and coins like Solana and Ethereum are wobbling but not spiraling. It’s bad, not catastrophic. (X) DISCOVER: 20+ Next Crypto to Explode in 2025 Why is Crypto Crashing? Ethereum Price Struggles to Break $2,820 We are in the funniest clown-like timeline. Trump can post about having the runs on TruthSocial, and 100b will be wiped from the markets. I’m starting to wonder if this is just a simulation to see how much a man can take before he reaches his tipping point? The market’s been jumpy since the Trump-Musk breakup. ETH can’t seem to break out with repeated stabs at the $2,820 line have gone nowhere, and confidence is fading. SOL is a different story. There’s movement, there’s volume, and some traders are eyeing it as the better bet for a short-term bounce. (X) DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now Bearish Signals for Ethereum: Awesome Oscillator (AO): Initially flashing positive signs, the AO now shows red histogram bars, signaling weakening bullish momentum. MACD Crossover: On the 4-hour chart, ETH has formed a bearish MACD crossover, further undermining confidence in a bullish breakout. Supertrend Resistance: The red Supertrend line currently sits above ETH’s price, emphasizing bearish sentiment. Adding to the caution is Ethereum’s netflow data from Glassnode. Between May 30 and June 4, significant outflows suggested bullish sentiment. However, on June 6, inflows spiked to 93,484 ETH (~$230 million), indicating traders may be preparing to sell or lock profits. If Ethereum fails to hold support at $2,280, a drop below $2,000 becomes increasingly likely. On the flip side, if bulls can retest $2,428 resistance with a more favorable setup, there’s potential for renewed bullish optimism. Solana Recovers From Flash Crash Amid High-Volume Volatility Solana slid 8.1% on the day, dipping from $154.48 to a low of $141.75 before clawing back to $147.40. The bounce was enough to sketch an ascending trendline—tentative, but not without potential. Buyers stepped in hard around $142, marking that zone as a clear line of defense. On the upside, resistance remains firm at $150–$152. Volume spiked during the drop, suggesting traders haven’t abandoned ship, even with risk markets on edge. (CoinGecko) SOL’s flash crash at 01:20, which briefly dropped prices to $144.93 on significant volume, was quickly followed by strong recovery buying. This points to a robust demand zone near $142 and adds weight to the ascending trendline now forming in SOL’s technical structure. However, stabilization near $147.40 shows declining volume, signaling that bulls need more momentum to break through the upper resistance zone successfully. Long story short: American politics are a soap opera these days. European politics continue to be some mashup adaptation of Dante’s Inferno and 1984. Why is Crypto Crashing Right Now? New Solana Layer 2 SOLX Breaks $44m Raised Finally smashing through $44 million raised with $250,000 rolling in daily, the $SOLX presale shows no signs of slowing. The buzz suggests it could easily surpass that milestone as pro-Canadian crypto policies and Trump-era crypto strategies take shape. Elon-Trump feud be damned! For early adopters, $SOLX offers a shot at a platform engineered for cross-chain DeFi, rapid dApp deployment, and robust multi-chain compatibility. Solaxy’s cross-chain bridge with ETH is another draw for the presale. A new bridge links Ethereum’s deep liquidity with Solana’s breakneck speeds and lower costs. Meanwhile, the staking app is setting its own pace, boasting a staggering 322% APY. Over 3.48 billion SOLX tokens are locked away, bleeding supply and forcing some level of price stability into an otherwise chaotic market. Long-term investors might not find much flash here—but the predictability is hard to ignore. Visit SOLX Here Key Takeaways Call it the world’s weirdest breakup: Elon and Trump. So why is crypto crashing? This is the reason why. Solaxy’s cross-chain bridge with ETH is another draw for the presale. A new bridge links Ethereum’s deep liquidity with Solana’s breakneck speeds and lower costs. The post Why is Crypto Crashing? Dust Settles Over SOL and ETH After Musk Storm appeared first on 99Bitcoins.

Kuaishou’s AI video tool – Kling – is now a top-earning AI video generation tool. In April and May of 2025 alone, it pulled in a hefty $14M. Given its high demand, Kling’s on track to hitting a whopping $100M in sales by February. This is proof that demand for AI-generated video content is exploding – a boon for AI crypto projects like SUBBD Token ($SUBBD). Kling Makes Pro-Quality AI Video Creation Affordable Since its June 2024 launch, Kling AI has rolled out over 20 updates. The changes were aimed at enhancing core model performance, refining image clarity, and introducing innovative features for video creators. By using the AI tool’s ‘inspiration credits,’ anyone, from solo creators to major brands, can tap into Kling’s powerful video creation capabilities. The model is extremely straightforward: Want sharper, high definition videos? Spend more credits. Want to save on budget? Lower the tool’s parameters. It’s super cost-effective, too. For just one dollar, you get 66 credits. Top-quality videos cost approximately 100 credits, whereas simpler versions cost just 20. By using Kling AI, creators now enjoy the freedom to scale their content based on budget, quality, and turnaround times. Tencent Holdings & Alibaba Capitalize on AI Video Hype The AI video space is heating up with growing competition. Hunyuan Video, launched by Tencent Holdings in December 2024, delivers high-quality cinematic video generation with advanced features. These features include dynamic camera movement, lifelike reflections, and seamless transitions between realistic and animated picture styles. Alibaba is also in on the trend, having released Wan 2.1 in February 2025 – a proprietary suite of open-source AI models. The models are designed for high-quality video generation based on text and image inputs. It’s also gearing up for a major upgrade, Wan 2.1-VACE, which will expand its functionality with advanced tools for reference-to-video generation and video-to-video editing. Let’s not forget OpenAI. The company is now developing Sora, a new tool for automated video generation. And then there’s Runway AI’s $3B valuation. Each of these developments signals a promising future for the SUBBD Token ($SUBBD), which goes a step further. This new crypto project delivers a full-suite of AI powered tools – not just video creation, but also online content management. SUBBD Leverages AI & Crypto to Reshape Creator Workflows $SUBBD powers a next-gen content creation platform that streamlines creators’ workflows and boosts community engagement through AI and Web3 technology. The digital content creation industry is booming, predicted to grow at a CAGR of 9.59% and reach $39.3B by 2032. Yet, despite the growth, creators still face serious challenges: High management and platform fees; Strict content policies on major platforms; Fragmented AI tools requiring multiple subscriptions; Outdated or slow payment systems. Thankfully, this is where the SUBBD ecosystem comes in, offering a seamless experience for AI-assisted content creation, editing, and monetization. The project achieves this through various AI tools, including a video generator, custom voice creator, and automatic live-streams. Meanwhile, fans get direct access to their favorite creators, and can enjoy personalized ecosystem fees and exclusive content – without having to rely on intermediaries. Influencers also benefit significantly thanks to a personal AI assistant. This tool is programmed to manage interactions and content schedules. Beyond content and engagement optimization, the personal assistant is an all-in-one tool that also boosts earnings by slashing third-party fees. Buying $SUBBD also ensures subscription discounts, staking rewards at a 20% APY, and XP multipliers for the platform’s raffles, games, and events. SUBBD to Soar as AI Video Craze Blows Up Kuaishou’s Kling AI is on track to reach $100M in sales. This, coupled with the success of similar providers, like Hunyuan Video, Wan 2.1, Sora, and Runway, demonstrates just how quickly AI-driven video content is scaling. As demand for streamlined, AI-powered content creation continues to rise, SUBBD stands out with its crypto-AI platform that unlocks additional monetization opportunities for creators (including automated live streams and token rewards). To get involved, all you need to do is buy $SUBBD on presale for as little as $0.0556. The presale has raised over $600M so far, and the price is going to increase again in two days. High-earning creators moving to the platform could further push the coin to $0.438 this year – a 687% gain, based on the current price. Before making any investment decisions, always do your own research first and never spend more than you’d be willing to lose.

The opening of the Western Range mine could be Stausholm’s last visit to the Pilbara as CEO. (Image courtesy of Jakob Stausholm’s LinkedIn.) Rio Tinto’s (LON: RIO) departing chief executive Jakob Stausholm insists there is no rift between him and chairman Dominic Barton, despite reports that have fuelled speculation about tensions within the board over strategic direction. Speaking publicly for the first time since the announcement of his departure two weeks ago, Stausholm addressed the rumours at the official opening of Rio’s $2-billion Western Range iron ore joint venture with China’s Baowu in Western Australia’s Pilbara region. The executive said the management team and board remained “absolutely aligned” on the company’s values, strategy, and performance assessment, downplaying any suggestion of internal division. He also said his successor could “very well be” an internal candidate. Stausholm, who joined Rio in 2018 and became CEO in 2021, stepped in after the company’s controversial destruction of 46,000-year-old Aboriginal rock shelters. The incident prompted the resignation of then-boss Jean-Sébastien Jacques following investor and Indigenous backlash. As chief executive, Stausholm pushed Rio beyond its traditional Pilbara iron ore base. He secured approvals for the long-delayed Simandou iron ore project in Guinea, expected to begin production later this year. Under his leadership, Rio also acquired Arcadium for $6.7 billion and launched a $900-million lithium joint venture with Chilean state-owned Codelco. But while Rio’s workforce has grown by 22% to roughly 60,000 employees since his appointment, annual revenue has declined by nearly $10 billion. Iron ore prices, for years Rio’s key profit driver, are projected to fall further, prompting the board to demand greater focus on cost discipline and operational efficiency. Stausholm, who saw himself as a strategic thinker, not a cost-cutter, ultimately agreed to step aside. He also faced mounting shareholder pressure, including a campaign led by Palliser Capital and over 100 investors to revisit the company’s dual listing in London and Sydney. Shareholders rejected the proposal earlier this month. Some investors questioned Rio’s aggressive expansion into lithium amid a slump in prices. While demand forecasts for the battery metal remain strong into the next decade, the payoff on Stausholm’s bet remains uncertain. The Western Range launch may be Stausholm’s final visit to the Pilbara as CEO. The new mine has a production capacity of up to 25 million tonnes of iron ore per year and is expected to sustain Rio Tinto’s Paraburdoo mining hub for roughly two decades. It also marks a milestone in cultural engagement, becoming the company’s first project to implement a co-designed Social, Cultural and Heritage Management Plan with the Yinhawangka traditional owners.

The XRP price has now moved back into bearish territory after a remarkable run on the daily chart that had been signaling possible bullish momentum. Crypto analyst Master Ananda points this out in a post that shows a disturbing trend in the XRP price chart. If this continues, then the future of XRP, at least in the short term, has become even more uncertain, with bears fighting for more control. 4 Green Daily Closes Fall to Nothing After suffering a crash along with the rest of the crypto market, the XRP price had faced a recovery that seemed to have put it right back on track to rally again. This saw the first green daily close on the last day of May and then carried on into the new month of June. The first three days also closed in the green, leading to four consecutive daily green closes, which is usually bullish for the price. However, there was just another part of the trend that was not completed to show that this was a bullish move, and it has to do with volume. As Master Ananda pointed out, a spike in volume was expected as the XRP price put in a higher low. This would mean there is the momentum needed to push the price back up. But this was not the case as the volume plummeted and remained muted. The absence of this expected volume suggests there is weakness surrounding the XRP price, and this played out as the next day saw a red close for the altcoin for the first time in June. If this lack of momentum continues, then the price could continue to plummet. So far, there is now resistance mounting at the 0.382 Fibonacci level, which is $2.2959. This resistance would need to be cleared with a spike in volume if there is to be a recovery in the XRP price. Otherwise, it risks a fall back down to the 0.236 Fibonacci level, meaning the first steps toward falling below $2. XRP Price Could Fall As Volumes Suffer Data from Coinglass shows how bad the XRP volume has been recently. So far in June, daily volume has remained well below $5 billion, reminiscent of the bear market figures whenever the price was falling. This also shows reduced participation from investors who are wary of entering the market during such conditions. Interestingly, though, open interest remains rather high, $3.94 billion, showing that crypto traders are actively betting on the XRP price. However, the majority are betting that the XRP price will continue to fall from here, with Coinglass data showing 52.75% of all positions being short compared to only 47.25% betting the price will increase.

How Pivozon Turns Market Chaos Into Opportunity with AI Trade Filtering Markets don’t move in straight lines, especially not Gold. One minute you’re riding momentum, the next you’re staring down a sharp reversal that wipes out hours of progress. That’s where Pivozon steps in. Built for the chaos of XAU/USD trading, this AI-powered automated trading software runs on structure, not emotion. It cuts through the noise, identifies the setups that actually matter, and executes with the kind of consistency manual trading just can’t match. Markets move fast. Pivozon reads what matters, so you can trade with clarity and control. Cutting Through the Clutter Gold is a trader’s dream and nightmare all at once. Big moves, fast reactions, and constant volatility. But with that comes noise: fakeouts, news spikes, and price traps that lure in even experienced traders. When you’re relying on gut feeling, hesitation or overreaction creeps in. You miss your entry or get faked out of your position. Pivozon is built to filter all that out. It uses AI trade filtering to separate high-probability setups from market noise. Instead of reacting to every candle, it focuses on patterns that actually lead to follow-through. Less noise, more action. AI Logic, Human-Ready Execution Pivozon isn’t just automated, it’s intelligent. Its AI-driven engine continuously scans the market on the H1 timeframe, analyzing volatility, trend strength, candlestick behavior, and price action to lock in only the cleanest setups. It reacts and filters. That means fewer signals, but higher quality trades. Set your parameters and it runs with them. Risk, trade size, re-entry; whatever you configure, that’s what it follows. It’s designed to execute cleanly and stay out of your way, so you’re not wasting focus on micromanaging every trade. Tools That Work with You, Not Against You Many trading bots tend to overtrade or overcorrect, especially in volatile markets like Gold. Pivozon avoids both extremes. It’s equipped with practical tools designed to protect gains and control risk, helping traders stay consistent even when the market isn’t. Trailing Stop: As Gold moves fast, locking in profit without cutting gains short is key. Pivozon’s trailing stop adjusts with the market’s pace so you capture the upside without exposing yourself on the pullback. Break-Even Logic: Once your trade moves into profit, the system moves your stop to entry. You’re protected from reversals, and the pressure to “manage” the trade disappears. Smart Trade Filtering: No more signal overload. Pivozon actively avoids setups that don’t meet its high-probability criteria. This keeps your trade count lean and your risk tight. Timeframe Control: Operating on the H1 timeframe provides enough data stability to avoid whipsaws while still offering timely entries. You get a smoother experience without lagging behind the action. Pivozon comes with tools that serve a purpose; built to handle Gold’s unpredictability while keeping your strategy sharp. Precision Over Emotion You can’t control the market, but you can control how you respond to it. Pivozon makes sure that response is consistent, clear, and emotion-free. It doesn’t panic during spikes or chase breakouts that don’t hold. It waits for confirmation, executes with structure, and manages every trade with risk in mind. This is especially important for traders who’ve been burned by overtrading, chasing losses, or second-guessing good setups. Decision fatigue is real. The more choices you have to make, the more likely you are to make the wrong one. Pivozon removes the noise and gives you a framework to trade with discipline, even in the most reactive, volatile conditions. FAQs How easy is it to get started with Pivozon? Very. Installation is straightforward via MetaTrader 4, and setup support is available if you need a hand. Can I adjust the risk and trade logic? Yes. Everything from lot size to stop-loss, trailing logic, and entry conditions can be customized. What kind of AI does Pivozon use? The bot uses AI-driven filtering logic to evaluate multiple market variables and discard weak setups. It focuses on structured, high-probability entries. Does it only work on Gold (XAU/USD)? Yes, Pivozon is specialized for Gold trading. It’s tuned specifically for the volatility and movement patterns of the XAU/USD pair. Is it beginner-friendly? Absolutely. The logic is advanced, but the interface and settings are simple. Even newer traders can use it with confidence. About Pivozon https://pivozon.com Pivozon is a focused AI trading solution built specifically for XAU/USD traders who demand consistency in chaotic markets. Operating on the H1 timeframe, it combines AI-powered setup filtering with precise execution tools like trailing stops and break-even logic. Use it to reduce emotional trades, sharpen entries, or automate your Gold strategy with confidence. Check out some of our previous articles: Adaptive Trade Precision with ForexIGO’s

Overview: It is not clear what happened yesterday, the first time US and Chinese leaders have spoken since the inauguration. The US readout suggests trade was only discussed and a deal on the rare earths was reached. China's readout included an expression of concern about US planned arms sales to Taiwan and the need for more talks to resolve the issue. The agreement in Geneva apparently covered bilateral actions and Beijing's export controls on several critical mineral and magnets are universal. Still, more talks have been planned even if not scheduled. Although the Trump-Musk break-up is as dramatic as one might expected, given the volatile personalities, the focus is on today's US employment data after a series of disappointing reports, including ADP and the weekly jobless claims. Still, the greenback is firmer against the G10 currencies, but mixed against the emerging market currencies, where the euro's pullback is a drag on central European currencies. Equities were mixed in the Asia Pacific region. South Korea's Kospi was the strongest with a 1.5% gain and a 5.3% rise on the week as election offers a chance for political stability after the turmoil earlier this year. Europe's Stoss 600 is flat as it tries to extend its advance for the fourth consecutive session. US index futures are 035%-0.50% higher as they recoup part of yesterday's losses. Bond yields are softer. Poor household spending data from Japan weighed on rate, and even at the very long-end of the curve. Disappointing Germany industrial production and export figures helped drag European bond yields 2-4 bp lower. The 10-year US Treasury yield is near 4.37%, slightly lower on the day and a little more than six basis points lower on the week, rivaling the 10-year Gilt for the best performance this week. Gold is consolidating quietly within yesterday's range and is trading so far today mostly between $3353 and $3375. It settled slightly below $3290 last week. July WTI remains in the upper end of Monday's trading range, which extended to almost $64. It settled on Monday near $62.50 and has mostly held above it. Today's range is roughly $62.80-$63.35. USD: The Dollar Index is recovering from yesterday's decline, which brought it to around 98.35, its lowest level since April 22. It was initially sold on the response to ECB's Lagarde's observation, which the swaps market had already concluded, that the ECB easing cycle is nearly over. However, news that Trump and Xi spoke and seemed to have overcome what appears to be a misunderstanding lifted DXY to around 98.85, a little above Wednesday's low (~98.65). Follow-through buying today is probing the 99.00 area. It may take a move above the 99.40 area to lift the technical tone. Barring a new social media post by the president, the US employment data is the key ahead of the weekend. The consensus sees slower job growth in May. The median forecast in Bloomberg's survey is for 130k increase after 177k rise April. The average through the first four months of the year is 144k, down from 176k average in the same period last year. The market may be more sensitive to a change in the unemployment rate, which stood at 4.2% in both March and April. It was at 4.0% last May. The JOLTS report (April) showed an unexpected rise in job openings, led by the private sector, while openings in manufacturing and leisure and hospitality fell. On the other hand, the ADP private sector estimate for May was dismal at 37k, a third of what was expected). It was the lowest estimate since the fluke -53k loss in March 2023. Although the short-term divergence between the BLS estimate and ADP can be stark, what some news wires call the "whisper number" is bound to be lower. A weak report today, and especially a rise in the unemployment rate could see the market push the next Fed cut back into Q3. Alongside the gradual slowing of the labor market, and several elevated measures of consumer debt stress, consumer credit slowed in Q1 25 (to just less than $20 bln) from more than $30 bln in Q4 24 and $25 bln in Q1 24. April's figures will be released today but typically do not move the markets. EURO: The "hawkish cut" by the ECB lifted the euro to almost $1.1500 yesterday from a low on Wednesday around $1.1360. On the pullback on Trump-Xi talks, the single currency found new bids near $1.1430. It has pulled back to almost $1.1410 today partly in response to disappointing German data. Support extends toward $1.1380. Although April factory orders were yesterday rose by 0.6% instead of decline by 1.5% as economist polled by Bloomberg expected, industrial production fell by more than forecast (-1.4% vs. -1.0%) and the March series was revised to show a 2.3% increase instead of 3.0%. And April exports fell by 1.7%, which was also more than anticipated. Yet, on the eurozone level, growth in Q1 was twice as strong as initially reported (0.6% vs. 0.3%). The swaps market went into the meeting anticipating a year-end rate slightly above 1.60% and rose eight basis points by the end of the session. CNY: The dollar held above the seven-month low against the offshore yuan seen in late May near CNH7.1615) and recovered to about CNH7.1750 before stalling yesterday. Today, it has taken out yesterday's high (~CNH7.1820) and risen to about CNH7.1870. The price action over the past few weeks may be carving out a new range between CNH7.16 and CNH7.23. The PBOC set the dollar's reference rate at CNY7.1845 (CNY7.1865 yesterday and CNY7.1848 last Friday). China reports May CPI and PPI early Monday. The market expected deflationary forces still grip prices. The median forecast in Bloomberg's survey sees consumer prices falling by 0.2% year-over-year after falling 0.1% in April. Consumer prices turned down in February after having been slowing rising since January 2024. Although many focus on weak demand (though presented as a percentage of GDP, which, we argue reflects continued strong investment) the drag on goods prices comes from food. Core prices, excluding food and energy has been mostly positive, though did slip in February below zero. It stood at 0.5% in April year-over-year. Note that earlier this week Switzerland reported that on the harmonized EU methodology, its CPI is -0.2% year-over-year. However, the Swiss 10-year yield is around 0.25%, while China's is hovering near 1.70%. China's producer prices are expected to have fallen 3.0% year-over-year after a 2.7% decline in April. If so, that would match the deepest deflation since July 2023 and the third consecutive decline. It had appeared to be stabilizing in the previous four months. JPY: The dollar has chopped back and forth between around JPY142.40 and JPY144.40 this week. It is making session highs in the European morning near JPY144.20. Still, it may require a close above JPY144.80 to signal a breakout. Japan's household spending was a major disappointment. Rather than rise 1.5% as the economists projected, it fell by 0.1%. The average year-over-year gain in Q1 of 0.8% was the best quarterly performance since Q3 22. Yet in GDP terms consumer spending rose by 0.2% in Q1 25 after a 0.3% increase in Q4 24. The Q1 GDP estimate of a 0.2% contraction quarter-over-quarter will be updated early Monday. GBP: Sterling rose to a new three-year high yesterday near $1.3615. It held in better than the euro, and on the pullback to only around $1.3575 bids re-emerged. It is holding below $1.3600 today and tested support in the $1.3530 area in the European morning. A break of it could see $1.3490-$1.3500. A close above $1.3575-80 would appear constructive. The UK-US trade deal seemed to allow British steel and aluminum into the US without the levy the US re-introduced provided that its supply chain was clean (i.e., not re-exporting Chinese product). Yet, it turns out that UK steel and aluminum will be subject to the 25% tariff announced last week after the US agreed to allow US Steel to be combined with Nippon Steel. The UK also seems vulnerable if the final version of the US budget proposal contains Section 899, which retaliates against companies operating in the US whose home country pursues policies that the US does not like, such as a digital tax or implementing the OCED's Pillar Two, (sets15% minimum corporate tax rate on large companies and allows others to top it off if it is under-taxed at home). CAD: The Canadian dollar made a new high for the year yesterday after Ottawa reported a record-goods trade deficit as exports to the US collapsed by almost 16%. The greenback reached CAD1.3635 before recovering toward CAD1.3675. It has extended the recovered to almost around CAD1.3685, but the CAD1.3700 area looks more important. A move above there could target CAD1.3750. After the Bank of Canada's pause on Wednesday, with overnight target rate at 2.75%, which is within estimates of the neutral range, attention turns to the labor market today. Canada's labor market has slowed considerably in recent months. The average monthly jobs growth in the first four months of 2025 is about 13k, down from almost 42k a month in the Jan-Apr 2024 period. The median forecast tin Bloomberg's survey is for a 12.5k loss of jobs last month. Canada has lost an average of 3.75k full time positions a month this year and grew 25k a month in the same period last year. The unemployment rate has been steadily rising since bottoming at 5% in late 2022 and again in early 2023. It was at 5.7% in January 2024 and finished the year at 6.7%. Canada's unemployment rate stood at 6.9% in April, matching the cyclical high. It is expected to have risen to 7.0% last month. AUD: According to Bloomberg's pricing, the Australian dollar made a new seven-month high yesterday by 1/100 of a cent to nearly $0.6540.The technical objective we have been emphasizing was the (61.8%) retracement of the Australian dollar's decline from last October's high (~$0.6940) to April's low (~$0.5915) found near $0.6550. It settled above $0.6500 for the first time this year, but was unable sustained the momentum and has pulled back to about $0.6485 today. A band of support may be found between $0.6455 and $0.6475. MXN: The dollar reached a new eight-month low against the peso today, slightly below MXN19.14. The MXN19.00-MXN19.05 offer the next important chart area. It has been a gradual but persistent grind lower in recent weeks. And that is point. The relatively low volatility, liquidity, and attractive rates make it an ideal for carry-trades against the dollar. Its actual volatility over the past month is around 8.9% (annualized). One can earn more carry in Brazil, but the volatility is almost 50% higher than the peso and the liquidity is worse. One of the implications of this is that a firm CPI print on Monday, with both the headline and core rates moving above the top of the target range that extends to 4%, the peso's attractiveness may be enhanced rather than diminished. Disclaimer

Canada’s Taseko Mines (TSX, LON: TKO)(NYSE American: TGB), the Tŝilhqot’in Nation, and the Province of British Columbia have signed an agreement that resolves a complex, long-standing conflict over the New Prosperity mineral tenures. The tenures, located about 125 km southwest of Williams Lake in the Teẑtan Biny (Fish Lake) area of Tŝilhqot’in territory, cover one of Canada’s largest undeveloped copper-gold deposits. The New Prosperity project holds an estimated 5.3 billion pounds of copper and 13.3 million ounces of gold in measured and indicated resources. Negotiated over several years, the agreement ends all litigation between the parties and clarifies the path forward for any future development. It balances Taseko’s commercial interests with the cultural and environmental concerns of the Tŝilhqot’in Nation, marking a significant milestone in the ongoing reconciliation process in B.C. Stuart McDonald, president and CEO of Tesko Mines, said the agreement resolves a damaging and value-destructive dispute. “It [also] and acknowledges Taseko’s commercial interests in the New Prosperity property and the cultural significance of the area to the Tŝilhqot’in Nation. Any future development at New Prosperity will benefit the Tŝilhqot’in people, and will only occur with their free, prior and informed consent.” Under the deal, the B.C. government will pay Taseko $75 million. In turn, Taseko will transfer a 22.5% equity interest in the New Prosperity mineral tenures to a trust for the future benefit of the Tŝilhqot’in Nation. That interest will be passed on if and when the Nation agrees to proceed with development. Taseko retains a 77.5% majority stake in the project and can divest portions of its interest, including to other mining firms—provided the Tŝilhqot’in Nation consents to any future exploration or mining. Taseko has agreed not to act as the proponent or operator of any future project at the site. A consent agreement between Taseko and the Tŝilhqot’in Nation ensures that no mineral activity can proceed without the Nation’s approval. The province and the Nation will also work together to develop a framework for seeking consent through the environmental assessment process. The Tŝilhqot’in Nation and BC committed to undertaking a land-use planning process for the area of the mineral tenures and a broader area of land within Tŝilhqot’in territory. The province pledged to provide funding to the Tŝilhqot’in Nation to facilitate the land-use planning process and to support a cultural revitalization fund. B.C.’s minister of mining and critical minerals, Jagrup Brar, said resolving the conflict has been a priority. “The agreement demonstrates B.C.’s commitment to reconciliation and ensuring that the interests of First Nations and mining companies can advance together.” Nits’ilʔin Roger William of the Xeni Gwet’in described the agreement as a turning point. “For over three decades, we’ve had conflict in the Teẑtan Area. For my oldest son, for many Tŝilhqot’in, that conflict has always been there, for their entire lives. Now we are turning the page. Tŝilhqot’in consent is protected: there is no longer the threat of exploration or mining without our consent. I hold my hands up to everyone that worked hard over the past five years to achieve this historic agreement that reflects true reconciliation, including the Province and Taseko Mines Limited. This is a time to celebrate for our people and honour all those who made this resolution possible.”

Huma Finance is shining. Bitcoin dropped by over $4,000, while meme coins posted double-digit losses. Will the DeFi token extend gains? The past 24 hours have been tumultuous for crypto and Bitcoin holders. Just when traders anticipated a sharp uptick, pushing the digital gold above $110,000, bears intervened with their own plans. Prices crashed by over $4,000, driving Bitcoin toward the psychological $100,000 mark. As expected, the sell-off negatively impacted altcoins, including some of the best Solana meme coins. All top 10 cryptos, except stablecoins, which held steady at $1 as a refuge for cautious traders, posted losses. Solana dropped 3%, with weekly losses exceeding 9%, while Dogecoin stumbled, shedding over 7% and accumulating weekly losses of more than 14%. (Source) DISCOVER: Top 20 Crypto to Buy in June 2025 Huma Finance Defying Gravity Amid the altcoin sell-off, a few tokens stood firm, defying the downturn. Huma Finance remained resilient, confronting bears head-on and rejecting attempts to reverse recent gains. By the close of June 5, HUMA, the token powering the DeFi project, was up nearly 5%, offsetting losses after a 27% drop over the past week. Since bulls held strong, HUMA is now up 18% from its May 31 lows, though it remains 60% from its all-time highs recorded on May 26. (HUMAUSDT) As Bitcoin and altcoins turned red, Huma Finance’s resilience, despite early June losses, signaled a robust foundation capable of withstanding the toughest crypto bear markets. Increased community engagement and platform activity bolstered this strength, and if bulls maintain momentum with higher highs today, Huma Finance could end the week strongly, building long-term momentum. Following its TGE event on May 26 and listings on top exchanges like Binance and Bybit, HUMA surged, rising to around $0.12. The token then unexpectedly retraced to $0.034 before recovering to current levels. Even so, HUMA is up 3X from its May lows, with the uptrend post-listing still intact, qualifying it among the best cryptos to buy. Will HUMA Extend Gains? The initial drop after listing stemmed from liquidations following the airdrop of 500 million HUMA. Eligible Solana holders, including early supporters, community contributors, and liquidity providers, rushed to claim their shares and likely sold, cashing out during the initial spike. Backing from top crypto VCs also provides Huma Finance with the financial power to compete, incentivize its community, attract users, and carve out market share. As of June 6, the platform had processed over $4.7 billion in transaction volume, drawing over $103 million in liquidity. DISCOVER: 7 High-Risk High-Reward Cryptos for 2025 Huma Finance DeFi Ticks Higher, Outshining Bitcoin Huma Finance outshines Bitcoin, rises despite market sell-off TGE and airdrop may explain the initial dip Will Bitcoin recover and stay above $100,000? Huma Finance is up 300% from May lows. Will the rally continue? 2025 The post Huma Finance Defies Gravity as Bitcoin Plummets Over $4,000: What’s Happening? appeared first on 99Bitcoins.

Shares of Circle Internet Group, the issuer of the market’s second-largest stablecoin, USDC, experienced a remarkable surge on Thursday, skyrocketing 168% as the company made its debut on the New York Stock Exchange (NYSE). Circle’s IPO Exceeds Expectations Circle’s stock opened at $69, well above its IPO pricing of $31. Throughout the day, the shares reached a peak of $103.75, showcasing strong investor enthusiasm. The IPO was priced late Wednesday, exceeding the anticipated range of $27 to $28, and substantially outpacing an earlier range of $24 to $26. This pricing strategy valued the company at approximately $6.8 billion before trading commenced. By the end of the trading session, Circle’s trading volume reached about 46 million shares, far surpassing the number of freely floating shares available. This impressive performance positions Circle alongside other cryptocurrency firms like Coinbase, Mara Holdings, and Riot Platforms as a notable player in the US market. CEO Jeremy Allaire emphasized the importance of building relationships with governments and policymakers, stating, “To realize our vision, we needed to forge relationships with governments… it’s got to work in mainstream society and you need to have those rules of the road.” Allaire highlighted Circle’s commitment to compliance and transparency, which he believes has contributed to the company’s success in a challenging regulatory environment. Could Higher Prices Follow For Future Listings? The strong debut of Circle’s IPO could signal a shift in how institutional investors approach upcoming listings, potentially leading to higher initial public offering prices for future offerings. Notable companies preparing for IPOs include Omada Health, which is pricing on Thursday, and Klarna, a fintech firm set to list next week. While Circle’s IPO share price initially set its market value at $6.1 billion—below its last private market valuation of $7.7 billion from 2021—Thursday’s trading surge adjusted that figure. By the close of trading, Circle’s market capitalization, excluding employee options, stood at an impressive $16.7 billion. The company successfully raised approximately $1.1 billion through the offering. Circle’s journey to this point has been marked by challenges, including its previous attempt to go public. Circle’s previous attempt to go public via a merger was with a special purpose acquisition company (SPAC), which collapsed in late 2022 due to regulatory hurdles. The company’s largest outside shareholders include General Catalyst and IDG Capital, holding approximately 8.9% and 8.8% of all stock, respectively. Other significant backers such as Accel, Breyer Capital, and Oak Investment Partners continue to support Circle’s vision in the evolving crypto marketplace. Featured image from DALL-E, chart from TradingView.com

Uber is now exploring stablecoins as a way to streamline its global payment system. That might sound surprising coming from a rideshare company, but when you’re dealing with money flowing through dozens of countries, faster and cheaper matters a lot. CEO Flags Stablecoins as a Potential Game-Changer At a recent Bloomberg tech summit, Uber CEO Dara Khosrowshahi said the company is actively looking into stablecoins. Not Bitcoin. Not Ethereum. Just the boring, practical kind that are tied to real-world currencies. His reasoning is simple. When a company like Uber operates across 70-plus countries, every international payment comes with currency conversion fees, delays, and administrative overhead. That adds up. Stablecoins could help Uber skip the traditional banking maze and get payments where they need to go instantly. A Simple Solution to a Global Headache Stablecoins like USDC and USDT are designed to track the value of something like the US dollar. They don’t jump up and down in price every time Elon tweets. They work like digital dollars you can send anywhere. Uber could, in theory, pay drivers using stablecoins. Instead of waiting days for a transfer to clear or losing money on exchange rates, drivers in countries like Mexico or India could get paid nearly instantly. That’s good for drivers and suitable for Uber’s balance sheet. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in May 2025 Don’t Expect a Crypto Pivot Khosrowshahi quickly clarified that Uber isn’t jumping into crypto trading or launching its token. This isn’t about investment. It’s about solving a specific business problem using a tool that might be better than they’ve used before. He even joked that while Uber won’t be buying Bitcoin, they do think there’s value in blockchain tools that help with efficiency. That kind of mindset is becoming more common in corporate boardrooms. Legal Questions Still Loom Of course, nothing in crypto is ever simple. The stablecoin market is still under scrutiny. Lawmakers in the US are debating how to regulate them, who gets to issue them, and whether reserves need to be audited or insured. Uber is playing it safe here. They’re watching closely, not acting rashly. That’s probably smart, since stablecoins sit in a legal gray area in many places, and one wrong move could create a mess they don’t need. DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now Big Tech Is Already Testing the Waters Uber’s not alone in eyeing stablecoins for real-world use. Visa has been running pilot programs. PayPal launched its own USD-backed stablecoin. Shopify is experimenting with blockchain-based payments. Everyone’s trying to solve the same problem: international payments are too slow and expensive. Quiet Innovation With Big Potential Uber’s stablecoin interest isn’t about jumping on a trend. It’s about making payments easier for people around the world. If they pull it off, this might be one of those quiet tech upgrades that make a huge difference without most people noticing. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Uber is exploring the use of stablecoins like USDC and USDT to streamline international payments across its 70+ operating countries. CEO Dara Khosrowshahi says stablecoins offer practical advantages for global transactions, such as speed, reduced fees, and fewer banking delays. The company has no plans to invest in crypto or issue its own token, but sees value in using blockchain for efficiency, not speculation. Regulatory uncertainty remains a concern, with Uber carefully monitoring legal developments around stablecoin issuance and reserve requirements. Other tech giants like Visa, PayPal, and Shopify are also testing stablecoin integrations, highlighting a broader industry shift toward blockchain payments. The post Uber May Use Stablecoins to Cut Costs on Global Transfers appeared first on 99Bitcoins.

Coinbase has found itself in hot water again, but this time it has nothing to do with market volatility or regulators. A data breach affecting tens of thousands of customers has been linked to one of its third-party support vendors in India, according to sources familiar with the matter. No money was stolen in the Coinbase data breach, but the leaked data could be used in phishing scams or identity theft. The Inside Job That Set It Off The breach allegedly began when a support agent working for TaskUs, a global outsourcing company contracted by Coinbase, snapped photos of internal customer service tools. These tools gave the agent access to user data, including names, email addresses, and possibly even transaction histories. That data didn’t stay internal for long. Reports claim it was passed on to external actors, possibly in exchange for money. This wasn’t a one-off incident either. A second agent is suspected to be involved, raising red flags about how widespread the internal abuse may have been. Investigators believe the leak was orchestrated and deliberate, intending to profit off the compromised information. DISCOVER: Top 20 Crypto to Buy in May 2025 Coinbase Responds to the Fallout Once Coinbase became aware of the breach, it terminated its relationship with TaskUs and began taking drastic steps to tighten its customer support operations. The company said it cut off access to several third-party vendors and is now investing in building a fully US-based support team. The breach has impacted around 70,000 users, as disclosed in Coinbase’s filing with the SEC. In a particularly tense twist, the bad actors demanded a $20 million ransom not to leak or sell the data. Coinbase refused, opting instead to cooperate with law enforcement and offer a bounty for information leading to those responsible. How Bad Is It? So far, there’s no public evidence of funds being stolen. But that doesn’t mean the damage is minor. With enough personal information exposed, scammers can run phishing attacks, impersonate Coinbase, or attempt identity theft. Internally, Coinbase estimates the financial cost of the incident could land between $180 million and $400 million. That is a massive hit for any company, let alone one that is already juggling increased regulatory pressure and fluctuating market conditions. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 A Larger Problem for the Crypto Industry Outsourcing isn’t new, especially for companies that operate globally and need customer support around the clock. But incidents like this show the risks of relying on third-party contractors with access to sensitive tools and data. Even one bad actor can unravel a lot when your brand’s entire promise is built around trust and financial security. Coinbase is now being looked at more closely by regulators and users who expect better safeguards. It has promised greater oversight, transparency, and a stronger internal security culture. The Takeaway This breach reminds us that security lapses don’t always come from hackers in hoodies. Sometimes, the threat is sitting behind a customer support dashboard. In an industry built on digital trust, that’s a risk no company can afford to overlook. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways A Coinbase data breach affected 70,000 users after a support contractor in India allegedly leaked sensitive customer data. The breach involved TaskUs employees who reportedly accessed internal tools and shared user data with external parties. Coinbase ended its partnership with TaskUs and is now shifting toward a fully US-based customer support operation. The attackers demanded a $20 million ransom, which Coinbase refused, choosing instead to cooperate with law enforcement. Though no funds were stolen, exposed data may lead to phishing, identity theft, and major financial fallout for Coinbase. The post Coinbase Data Leak Tied to India-Based Contractor, 70,000 Users Affected appeared first on 99Bitcoins.