Author

admin

Browsing

Four men in Quebec, including two active members of the Canadian Armed Forces, were arrested and charged in what Canadian police say is a case of “ideologically motivated violent extremism.”

Three of the men, all in their mid-twenties, “were planning to create an anti-government militia” with the intent to “forcibly take possession of land in the Québec City area,” the Royal Canadian Mounted Police (RCMP) said in a statement on Tuesday.

“To achieve this, [the three men] took part in military-style training, as well as shooting, ambush, survival and navigation exercises,” the statement continues. “They also conducted a scouting operation. A variety of firearms, some prohibited, as well as high-capacity magazines and tactical equipment were allegedly used in these activities.”

The three were charged with facilitating terrorist activity. A fourth individual, a man in his early thirties, faces numerous firearms and explosives-related charges, police said.

In a January 2024 search near Quebec City, police say they found “16 explosive devices, 83 firearms and accessories, approximately 11,000 rounds of ammunition of various calibres, nearly 130 magazines, four pairs of night vision goggles and military equipment.”

They used the account to advertise military-style training in Quebec and Ontario, Gasse added.

Gasse did not elaborate on what specific ideology allegedly motivated the men, or the location of the land near Quebec City police claim they plotted to seize.

“It’s a good thing we caught them when we did,” Gasse said.

“The Canadian Armed Forces is taking these allegations very seriously and has fully participated in the investigation,” a department spokesperson said in an email.

Extremism within Canada’s armed forces is a longstanding issue, with a 2022 government report noting that the country’s military is “not immune to infiltration” by members of extremist groups.

“The suspected presence of members of extremist groups within [the Department of National Defence/Canadian Armed Forces] is a pressing moral, social and operational issue,” the report concluded.

This post appeared first on cnn.com

For a fleeting moment, Ukraine’s conflict may have come full circle.

In the past 48 hours, US President Donald Trump has perhaps said his most forcefully direct words yet on arming Ukraine. And in the same period, the Kremlin have given their blankest indication to this White House that they are not interested in a realistic, negotiated settlement to the war.

Let us start with Trump’s comments on arming Ukraine, a reversion to a basic bedrock of US foreign policy for decades – opposing Russian aggression. “We’re going to send some more weapons,” the president said Monday of Ukraine. “We have to – they have to be able to defend themselves. They’re getting hit very hard.”

Behind him, his Defense Secretary Pete Hegseth nodded, despite this contradiction of the administration’s announcement days earlier of military shipments being stopped. What did Trump actually mean? He was short on detail.

A Pentagon spokesman later said that “at President Trump’s direction, the Department of Defense is sending additional defensive weapons to Ukraine to ensure the Ukrainians can defend themselves while we work to secure a lasting peace and ensure the killing stops.”

The about-face came days after Volodymyr Zelensky’s call with Trump on Friday, in which the Ukrainian leader said the two men spoke of joint weapons production, and air defense.

Zelensky urgently needs more Patriot interceptor missiles, which are the only way of taking down Russian ballistic missiles, and which only the US can authorize trade in. Trump spoke a day earlier with German Chancellor Friedrich Merz, who has offered to buy Patriots from the US to supply to Ukraine. Enough is afoot to have led Zelensky to declare on Saturday his Trump call was “the best conversation we have had during this whole time, the most productive.”

Trump’s failure to provide details may be strategic, or a by-product of his occasional disdain for them. But while he may sound briefly a little more like his predecessor, Joe Biden, in terms of arming Ukraine, herein lies one stark difference. Biden publicly announced in agonizing detail every capability he gave Kyiv, perhaps hoping the transparency would avoid a sudden unexpected escalation with Moscow.

Instead, Biden ended up with an excruciating public debate with Kyiv about every new system, and arms shipment, during which every seemingly impossible demand – from HIMARS rockets, to tanks, to F-16 fighter jets, to strikes inside Russia by ATACMs – was eventually acceded to. The plain, open ladder of American escalation was laid bare to the Kremlin. Trump perhaps seeks to avoid that by saying less.

But after barely six months in office, Trump finds himself back where Biden always was, after trying almost everything else – cosying up to then criticizing Russian President Vladimir Putin, falling out and making up with Zelensky, and spurning before eventually backing Europe. But the timing of his latest conversion, however enduring, reveals the desperation of this moment in the conflict.

The most recent, record Russian use of drones to attack Kyiv exposed possibly critical shortcomings in the capital’s air defenses. They would only have worsened without being resupplied, at a time when Ukraine has reported 160,000 Russian troops are massing to the north and east of the frontlines. The months ahead will be unpredictable and critical for Kyiv, even with renewed US military support.

Trump’s reversal may have stopped panic edging towards the risk of collapse. Why the shift?

Trump has always tried playing nice with Putin. Patient diplomacy, gentle words, and even last week’s brief pause in military aid – a Kremlin demand for a deal – still did nothing to change Putin’s position. The Kremlin does not want peace. And so Trump has learned slowly, rejecting the travails of recent history, that Russia is an opponent.

The end of the US’ longest war in Afghanistan, in which Biden withdrew fast in the wake of a hasty deal signed by Trump with the Taliban, led to scenes that haunted Trump’s predecessor and remain a potent stick with which Republicans beat Democrats. The repetition of a similar rout of American allies in Ukraine, or Eastern Europe, would be an indelible stain on the Republican or MAGA record. That is not imminent, or even that likely for now. But the seeds of it lie perhaps in any success for Putin’s planned aggression in the coming months.

Meanwhile, after six months of toying with the ideas of diplomacy, the Kremlin is back where it started too: willing to accept a peace only if it is surrender by another name. Its recent goal has been achieved: it has flattered the White House’s belief that it could talk out an end to the war, and taken enough time in talks that Russia’s summer offensive is now adequately manned, and the ground below these troops hard.

As recently as Monday, Putin’s top diplomat was repeating Russia’s most maximalist set of demands. Sergey Lavrov told a Hungarian newspaper that the “underlying causes” of the war must be eliminated, and gave a long, expansive list of impossibles, including the “demilitarization and denazification of Ukraine, lifting sanctions on Russia, rescinding all lawsuits against Russia, and returning the illegally seized Western-based assets.”

He added to that a requirement that Ukraine pledge to never join NATO, and also that occupied Ukrainian territory be recognized as Russian, including parts of Zaporizhzhia and Kherson that Moscow hasn’t even seized yet. It was a dizzying echo of Russia’s demands when it engaged in diplomacy for the first time in Istanbul, in the opening weeks of the war, as its soldiers shot civilians dead in the suburbs of Kyiv.

Putin’s rationale for rejecting real diplomacy is simple. He has sold this war (falsely) as an existential clash between Russia and its traditional values, and a liberal, expansionist and aggressive NATO. It is a binary moment in Russian history, his narrative insists. To entertain a short, albeit deceptive ceasefire on American terms would contradict the urgency of that false story, and risk undermining the skimpy morale of his troops, whose lives his commanders often fritter away in brutal, frontal assaults.

Putin can mollify Trump with talk of his desire for peace. But he cannot let slip the façade of the motherland being under assault. His retreat back to type has been shorter and easier than Trump’s. But still the Kremlin sees the enemy where it always has been, and where it always needs to be, for its war of choice to continue ending the lives of so many Russian men early.

And so, for a brief moment, Putin and Trump find themselves back where Russia and the US were in 2022. Moscow has tens of thousands more troops reportedly amassed to invade Ukraine yet again. Diplomacy seems pointless. Washington needs to help defend Ukraine or risk global embarrassment – the demise of its military hegemony. And Ukraine is still there, in the middle, watching both powers on either side vacillate and spin, yet holding on.

This post appeared first on cnn.com

Germany summoned the Chinese ambassador to the Foreign Ministry on Tuesday after saying China’s military had laser targeted a German aircraft taking part in an European Union operation in the Red Sea.

The flare up in tensions comes as concerns mount in the EU about Chinese influence on critical technologies and security infrastructure in Europe.

“Putting German personnel at risk and disrupting the operation is completely unacceptable,” said Germany’s Foreign Ministry on social media platform X.

There was no immediate response from China’s Foreign Ministry, and the Chinese Embassy in Berlin did not immediately respond to an emailed request for comment.

Germany’s Defense Ministry said the aircraft, taking part in the EU’s ASPIDES mission which protects international sea routes in the Red Sea, had been contributing a Multi-Sensor Platform, or “flying eye” for reconnaissance of the area since October.

A Chinese warship, which had been encountered several times in the area, had laser targeted the aircraft with no reason or prior communication during a routine mission flight, said a ministry spokesperson. The incident took place at the beginning of July.

“By using the laser, the warship put at risk the safety of personnel and material,” said the spokesperson, adding the mission flight was aborted as a precaution and the aircraft landed safely at a base in Djibouti.

The deployment of the MSP in ASPIDES has since been resumed, he said.

The MSP is operated by a civilian commercial service provider and German armed forces personnel are involved, said the ministry, adding the data collected significantly contributes to awareness for partners.

China has previously denied accusations of firing or pointing lasers at US planes. Incidents involving a European NATO member and China are more unusual.

In 2020, the US Pacific Fleet said a Chinese warship had fired a laser at a US naval patrol aircraft flying in airspace above international waters west of Guam. China said that did not accord with the facts.

This post appeared first on cnn.com

More than 80 years ago, the crew of the USS New Orleans, having been hit by a Japanese torpedo and losing scores of sailors, performed hasty repairs with coconut logs, before an 1,800-mile voyage across the Pacific in reverse.

The front of the ship, or the bow, had sunk to the sea floor. But over the weekend, the Nautilus Live expedition from the Ocean Exploration Trust located it in 675 meters (2,214 feet) of water in Iron Bottom Sound in the Solomon Islands.

Using remotely operated underwater vehicles, scientists and historians observed “details in the ship’s structure, painting, and anchor to positively identify the wreckage as New Orleans,” the expedition’s website said.

On November 30, 1942, New Orleans was struck on its portside bow during the Battle of Tassafaronga, off Guadalcanal island, according to an official Navy report of the incident.

The torpedo’s explosion ignited ammunition in the New Orleans’ forward ammunition magazine, severing the first 20% of the 588-foot warship and killing more than 180 of its 900 crew members, records state.

The crew worked to close off bulkheads to prevent flooding in the rest of the ship, and it limped into the harbor on the island of Tulagi, where sailors went into the jungle to get repair supplies.

“Camouflaging their ship from air attack, the crew jury-rigged a bow of coconut logs,” a US Navy account states.

With that makeshift bow, the ship steamed – in reverse – some 1,800 miles across the Pacific to Australia for sturdier repairs, according to an account from the National World War II Museum in Louisiana.

“‘Difficult’ does not adequately describe the challenge,” Schuster said.

While a ship’s bow is designed to cut through waves, the stern is not, meaning wave action lifts and drops the stern with each trough, he said.

When the stern rises, rudders lose bite in the water, making steering more difficult, Schuster said.

And losing the front portion of the ship changes the ship’s center of maneuverability, or its “pivot point,” he said.

“That affects how the ship responds to sea and wind effects and changes the ship’s response to rudder and propellor actions,” he said.

The New Orleans’ officers would have had to learn – on the go – a whole new set of actions and commands to keep it stable and moving in the right direction, he said.

The ingenuity and adaptiveness that saved the New Orleans at the Battle of Tassafaronga enabled it to be a force later in the war.

After making it across the Pacific from Australia to the US naval yard at Puget Sound, Washington state – facing the right way this time – the New Orleans undertook permanent repairs. It later participated in actions across the Pacific, including the decisive battles of Saipan and Okinawa, which led to the US gaining airfields that enabled the final blows to be made on Imperial Japan.

The ship was awarded 17 battle stars for its actions in the Pacific, tying it for the third most such decorations in the Pacific theater, according to the World War II Museum.

The New Orleans’ bow was found during the 21-day Maritime Archaeology of Guadalcanal expedition of Iron Bottom Sound by Nautilus Live, a cooperative effort among NOAA Ocean Exploration, the Ocean Exploration Cooperative Institute, the University of New Hampshire and the Naval History and Heritage Command.

Iron Bottom Sound was called Savo Sound before World War II, but Allied sailors gave it its current moniker for the huge numbers of warships that sank in battle there.

According to the expedition, five major naval battles were fought there between August and December 1942, resulting in the loss of more than 20,000 lives, 111 naval vessels and 1,450 planes on all sides.

Before the expedition, “fewer than 100 of these US, Japanese, Australian, and New Zealand military ships and planes have been located,” it says on its website.

The expedition began on July 2 and continues until July 23. Its continuing searches are being live streamed at nautiluslive.org.

This post appeared first on cnn.com

More than 200 kindergarten students in northwestern China were found to have abnormal blood lead levels after kitchen staff used paint as food coloring, authorities said, in a case that’s stoked outrage in a country long plagued by food safety scandals.

Eight people, including the principal of the private kindergarten that the children attended, have been detained “on suspicion of producing toxic and harmful food,” according to a report released Tuesday by Tianshui city government, as cited by Chinese state broadcaster CCTV.

The principal and a financial backer of the school had allowed kitchen staff at the Heshi Peixin Kindergarten to use paint pigments to color the children’s food, leading to contamination, according to the report, which followed a days-long but ongoing probe into the cases.

Of the 251 students enrolled at the kindergarten, 233 were found to have abnormal levels of lead in their blood, the report found. The children were undergoing medical treatment with 201 of them currently in hospital, authorities said. Medical evaluation on the effects of their exposure, which can cause long-term and developmental harm, were not yet made public.

Local media cited a pediatrics professor as saying aspects of the case suggest there could be chronic lead poisoning, meaning exposure over a period of more than three months.

During the investigation, two food samples from the kindergarten – a red date steamed breakfast cake and a sausage corn roll – were found to have lead levels more than 2,000 times the national food safety standard for contamination, according to figures cited in the investigation report.

Authorities said they launched the probe on July 1 after becoming aware of reports that children at the school had abnormal blood lead levels. Lead exposure in children can lead to severe consequences, including impacting children’s brain development, behavior and IQ.

The government report did not disclose how long the exposure had gone on, with some affected parents interviewed by state media saying they had noticed abnormal signs in their children’s health and behavior for months – and clamoring for more answers about how the exposure happened.

“My mind went blank,” a mother of one affected student told state media after learning from a hospital in a nearby city that her child had a blood lead level of 528 micrograms per liter – a revelation that came after she said a local department in Tianshui told her the blood levels were normal, according to a report published by outlet China National Radio (CNR). China’s National Health Agency classifies “severe lead poisoning” as anything above 450 micrograms per liter.

“Right now, I’m not thinking about compensation – I just want my child to be healthy,” she was quoted as saying.

‘How could they be poisoned so seriously?’

The case has raised all-too-familiar concerns in China about food safety as well as the levels of transparency with which such cases are handled – especially in a system where independent journalism is tightly controlled and officials are under pressure to resolve issues quickly.

Earlier this month, after the school conducted tests on the students but did not issue individual results, many parents took their children to Xi’an – a major city a roughly four-hour drive from Tianshui – for testing, according to a report published by a news outlet affiliated with the official People’s Daily.

Reports from state-affiliated media found that 70 children who were tested in Xi’an had blood lead levels surpassing the threshold of lead poisoning, with six of those cases exceeding 450 micrograms per liter. According to China’s official guidelines, this level is classified as “severe.” A full picture of the results from all the students with abnormal levels was not publicly available.

One mother told the People’s Daily-affiliated outlet that she had been confused by her daughter’s constant stomach aches, loss of appetite and behavioral changes over the past six months, which didn’t improve after treating her with traditional Chinese medicine.

Others expressed skepticism about the results of the official investigation.

“The children only eat three-color jujube steamed cake and corn sausage rolls once or twice a week, how could they be poisoned so seriously?” one mother, who gave her surname Wu, told CNR. “If something like this happened to the children in school, at least give us an explanation. Now there is nothing.”

Earlier this week, Tianshui’s mayor Liu Lijiang said the city would “do everything possible to ensure the children’s treatment, rehabilitation and follow-up protection,” while vowing to close “loopholes” in Tianshui’s public food safety supervision.

‘Serious accountability’

The case has led to widespread expressions of outrage across Chinese social media, the latest among dozens of high-profile scandals have been reported by local media since the early 2000s.

“Serious accountability must be maintained and food safety issues cannot be ignored or slacked off. When it involves the life safety of young children, severe punishment must be imposed,” wrote one commentator on the X-like platform Weibo.

“Children are the hope of a family. I hope they can recover soon and grow up healthily,” said another.

Past scandals have also impacted children. In one of the most egregious examples, six infants died and some 300,000 others were sickened by milk powder formula containing the toxic industrial chemical melamine. Several executives found to be responsible for the 2008 case were ultimately handed death sentences, and the tragedy drove deep mistrust of domestic products and food safety in China.

Lead poisoning used to be a more widespread issue in China. In 2010, the central government for the first time allocated special funds for heavy metal pollution prevention in response to at least 12 high-profile cases the previous year that left more than 4,000 people with elevated blood lead levels, according to state media.

Officials have also moved to tighten food safety regulations in recent years, but pervasive cases have shown more needs to be done in terms of enforcement and to build back public trust, experts say.

Improving the food regulatory system calls for “more transparency, more thorough investigation of food safety cases,” said Yanzhong Huang, a senior fellow for global health at the Council on Foreign Relations in New York and author of the book “Toxic Politics: China’s Environmental Health Crisis and its Challenge to the Chinese State.”

Huang also said a lack of public confidence in the safety systems could evolve into a “trust crisis.”

This post appeared first on cnn.com

Russia launched its largest drone attack on Ukraine since the beginning of its invasion, Ukrainian officials said Wednesday, just hours after US President Donald Trump pledged more military support for Kyiv and accused his Russian counterpart Vladimir Putin of throwing “bullsh*t” over peace talks.

The massive aerial assault involved 741 drones, Ukraine’s Air Force said, eclipsing the previous record number of 539 drones, set on July 4, by hundreds – but it was largely repelled, with the damage limited and no immediate reports of deaths.

“This is a demonstrative attack, and it comes at a time when there have been so many attempts to achieve peace and cease fire, but Russia rejects everything,” Ukrainian President Volodymyr Zelensky wrote on Telegram.

“Our partners know how to apply pressure so that Russia will be forced to think about ending the war, not new strikes. Everyone who wants peace must act.”

The barrage, which mainly targeted the city of Lutsk, in northwestern Ukraine, was so intense it caused Poland’s military to scramble aircraft in its airspace. It comes after weeks of intensifying aerial strikes on Ukraine by Russia.

“Last night, our region was again subjected to a mass attack,” Ivan Rudnitskyi, the head of the military administration in Volyn region, home to Lutsk, said on Telegram. “Virtually everything was flying towards Lutsk.”

Ukraine’s Air Force said it destroyed 718 of the drones. There were no immediate reports of fatalities. One woman was hospitalized with chest injuries in the city of Brovary, near Kyiv, its mayor said.

Ukraine launched 86 drones towards Russia overnight, according to the Russian Ministry of Defense.

Moscow’s scaled up assault on Kyiv follows a remarkable 48 hours in the White House, where Trump vented his anger about Russian leader Vladimir Putin’s lack of commitment to a peace deal and pledged more support for Ukraine.

“We get a lot of bullsh*t thrown at us by Putin, if you want to know the truth,” Trump said in a Cabinet meeting. “He’s very nice all of the time, but it turns out to be meaningless.”

Kyiv urgently needs more US-made Patriot interceptor missiles to repel Russian attacks.

“We’re going to send some more weapons (to Ukraine),” Trump said on Monday evening. “We have to — they have to be able to defend themselves.”

“They’re getting hit very hard. We’re going to have to send more weapons,” Trump added. “Defensive weapons, primarily, but they’re getting hit very, very hard.”

A Pentagon spokesman later said that “at President Trump’s direction, the Department of Defense is sending additional defensive weapons to Ukraine to ensure the Ukrainians can defend themselves while we work to secure a lasting peace and ensure the killing stops.”

Secretary of Defense Pete Hegseth did not inform Trump before authorizing the weapons pause last week, according to five sources familiar with the matter.

This post appeared first on cnn.com

Doctors in Gaza say they were forced to cram multiple babies into one incubator as hospitals warned that fuel shortages are forcing them to shut off vital services, putting patients’ lives at risk.

The UN has warned that the fuel crisis is at a critical point, with the little supplies that are available running short and “virtually no additional accessible stocks left.”

“Hospitals are rationing. Ambulances are stalling. Water systems are on the brink. And the deaths this is likely causing could soon rise sharply unless the Israeli authorities allow new fuel in – urgently, regularly and in sufficient quantities,” the Office for the Coordination of Humanitarian Affairs (OCHA) said.

An 11-week Israeli blockade on humanitarian aid earlier in the year pushed the enclave’s population of more than 2 million Palestinians towards famine and into a deepening humanitarian crisis. Limited aid deliveries resumed into the besieged enclave in May but aid groups have said it is not nearly enough to meet the scale of the needs.

The director of the Al-Ahli Hospital, south of Gaza City posted a photo on social media Wednesday of multiple newborn babies sharing a single incubator which was taken at another facility, Al-Helou.

“This tragic overcrowding is not just a matter of missing equipment — it’s a direct consequence of the relentless war on Gaza and the suffocating blockade that has crippled the entire healthcare system,” Dr. Fadel Naim wrote in a post on X.

“The siege has turned routine care for premature babies into a life-or-death struggle. No child should be born into a world where bombs and blockades decide whether they live or die.”

The director of Al-Shifa Hospital in northern Gaza said the shortages were forcing them to close kidney dialysis sections so they could focus on intensive care and operating theatres.

Footage from inside the hospital showed doctors using flashlights as they treated patients.

Another facility, the Nasser Medical Complex, said it had 24 hours of fuel left and was concentrating on vital departments such as maternity and intensive care.

Fuel vital for basic services

In addition to fuel shortages, difficulty finding replacement parts for the generators that power Gaza’s hospitals risks is forcing more to shut down.

The Al-Aqsa Martyrs Hospital in central Gaza issued an urgent statement that the facility’s main generator had broken down due to a lack of spare parts, forcing it to rely on a smaller backup unit.

“Fuel will run out within the coming hours, and the lives of hundreds of patients are at risk inside the hospital wards,” the statement said.

“The hospital’s shutdown threatens to disrupt healthcare services for half a million people in the Central Governorate.”

Beyond hospitals, fuel is essential to keep basic services running in Gaza. The territory relies heavily on imports for cooking, desalination and wastewater plants, and to power the vehicles used in rescue efforts.

Israel has restricted the entry of fuel throughout the conflict, and has previously claimed Hamas could use it to launch weapons.

The aid group Doctors Without Borders (MSF) warned of what it called “an unprecedented humanitarian crisis” unfolding in Gaza, in a statement Tuesday and called for a ceasefire and the entry of far greater levels of humanitarian aid.

“Our teams have worked to treat the wounded and supply overwhelmed hospitals as indiscriminate attacks and a state of siege threaten millions of men, women and children,” MSF said.

“We urge Israeli authorities and the complicit governments that enable these atrocities, including the UK Government, to end the siege now and take action to prevent the erasure of Palestinians from Gaza.”

This post appeared first on cnn.com

Here’s a quick recap of the crypto landscape for Friday (July 4) as of 12:00 p.m. UTC.

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

Bitcoin and Ethereum price update

Bitcoin (BTC) is priced at US$108,948, down by 1.6 percent in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$107,741 and a high of US$109,997.

Bitcoin price performance, July 4, 2025.

Chart via TradingView.

Bitcoin’s rally to US$108,000 followed strong US labor data that boosted risk appetite early on, alongside continued inflows into Bitcoin spot ETFs (nearly US$50 billion), which helped anchor prices despite broader equity market pullbacks.

Market watchers also noted heightened volatility following the reactivation of two long-dormant Bitcoin wallets containing roughly 20,000 BTC (worth over US$2 billion), raising questions about potential future dumping.

Ethereum (ETH) is priced at US$2,549.85, down by 2.7 percent over the past 24 hours. Its lowest valuation on Wednesday was US$2,502.39 and its highest was US$2,600.55.

Altcoin price update

  • Solana (SOL) was priced at US$150.30, up by 5 percent over 24 hours. Its highest valuation as of Friday was US$153.26, and its lowest was US$146.61.
  • XRP was trading for US$2.24, down by 1.4 percent in 24 hours. The cryptocurrency’s lowest valuation was US$2.21 and its highest was US$2.28.
  • Sui (SUI) is trading at US$2.92, showing a decrease of 3.6 percent over the past 24 hours. Its lowest valuation was US$2.87 and its highest was US$3.07.
  • Cardano (ADA) is priced at US$0.5817, down by 3.1 percent in the last 24 hours. Its lowest valuation as of Wednesday was US$0.5715 and its highest was US$0.6028.

Today’s crypto news to know

Trump’s Big Beautiful Bill passes Congress, sending cryptos higher

US President Donald Trump’s flagship Big Beautiful Bill, featuring sweeping tax cuts, narrowly passed the House of Representatives on July 3 with a 218 to 214 vote and now awaits his signature.

Elon Musk criticized the bill for potentially inflating the deficit by trillions, while Trump suggested Musk’s criticism stemmed from policy clashes on EV incentives.

Coinbase Global (NASDAQ:COIN) CEO Brian Armstrong also raised concerns that a ballooning debt could paradoxically fuel Bitcoin’s status as a reserve asset.

Bitcoin traded near US$109,886 after the news, with other leading coins including Ethereum and Solana also posting gains. The total crypto market cap climbed to US$3.39 trillion following the vote.

Bitcoin power shift as whales sell 500,000 BTC to institutions

A major redistribution of Bitcoin is underway as long-time holders of large amounts of Bitcoin have sold off around 500,000 Bitcoin over the past year, worth more than US$50 billion at current prices.

According to a Bloomberg report, these sales are being absorbed almost equally by institutional buyers, including spot ETFs and corporate treasuries. That pattern is turning Bitcoin from a high-volatility speculative bet into a steadier institutional portfolio allocation. Despite consistent positive news for crypto in recent months, the asset has struggled to break through resistance around US$110,000, showing a consolidation phase.

Some of the whales cashing out are early holders dating back to Bitcoin’s earliest cycles, Bloomberg reports, who are swapping Bitcoin for stock-linked deals instead of simply liquidating.

Russian giant Rostec to issue ruble-backed stablecoin

State-owned Russian conglomerate Rostec is moving to launch a ruble-pegged stablecoin called RUBx and a payments network named RT-Pay before year-end, according to Russian state media.

The stablecoin will be anchored one-to-one with ruble deposits held in treasury accounts, and its code will be independently audited by CertiK. RT-Pay will integrate directly with Russia’s banking system, aiming for instant settlement and smart contract functionality even outside business hours.

Rostec says its platform will follow Russia’s anti-money-laundering and terrorism-financing requirements, in line with the Bank of Russia’s rules.

The stablecoin will run on the Tron blockchain, with its smart contract code to be published on GitHub.

Coinbase’s Base sees US$4 billion in outflows, Ethereum gains US$8.5 billion

Coinbase’s Layer 2 network Base has lost significant traction this year, registering US$4.3 billion in net outflows through cross-chain bridges, data shows.

This downturn is a sharp reversal from the US$3.8 billion of inflows Base attracted in 2024, when it led the sector in bridge activity. Meanwhile, Ethereum has staged a comeback, seeing US$8.5 billion in inflows compared to net outflows last year.

The slowdown in stablecoin supply growth on Base, now holding steady above US$4 billion since May, points to a maturing user base and declining trading volumes.

Bridges are key pieces of crypto infrastructure that allow assets to move between chains, supporting interoperability.

Nano Labs starts US$1 billion BNB buying plan with US$50 million purchase

Hong Kong-based chipmaker Nano Labs (NASDAQ:NA) has made its first major move in an ambitious plan to hold up to 10 percent of Binance Coin (BNB) in circulation, snapping up US$50 million of BNB this week.

The company disclosed buying around 74,315 BNB at an average price of US$672, funded partly by convertible notes.

Nano Labs ultimately plans to allocate US$1 billion to BNB holdings, signaling a vote of confidence in Binance’s ecosystem. However, its shares fell nearly 5 percent on Thursday and lost another 2 percent after hours, reflecting investor worries about its exposure to volatile crypto reserves.

Nano Labs’ reserves, including Bitcoin, now stand around US$160 million in total.

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

This post appeared first on investingnews.com

The year’s second quarter was a defining period for digital assets.

The industry converged at events like Consensus, held in May in Toronto, where discussions heavily focused on critical themes like regulatory clarity and real-world asset (RWA) tokenization.

Stablecoins, with their promise of enhanced cross-border payment efficiency, were heavily covered, especially regarding the growing interest and innovation in yield-generating products.

Legislative initiatives, policy shifts and infrastructure developments have moved at a dizzying pace, and the ongoing integration of traditional finance with decentralized technologies has driven credibility and institutional engagement.

Looking ahead, continued adoption of digital assets is slated to reshape the global financial landscape fundamentally.

Q2 review: Market maturation, institutional integration and regulatory milestones

Q2 highlighted a maturing market that can absorb shocks while maintaining focus on long-term growth.

While scrutiny of officials’ crypto dealings, including those of US President Donald Trump and his family, kept headlines lively, the broader trend was one of increased credibility.

Early in the quarter, trade tensions between the US and China, combined with ongoing concerns that tariffs will lead to an economic fallout, dampened investor sentiment and weighed on risk assets.

However, investor confidence in Bitcoin was evident in its resilience. After a slide to around US$76,000 at the start of April, it reached the US$90,000s mid-month, before hitting a new all-time high of US$111,000 on May 22.

Institutional accumulation and clearer regulatory signals backed this sentiment, exemplified by the US Securities and Exchange Commission’s (SEC) approval of rule changes allowing Ether exchange-traded fund (ETF) options.

The SEC also updated its guidance on crypto company disclosures, while US President Donald Trump signed a resolution repealing the IRS’s DeFi broker rule. Closing off the quarter, the Federal Housing Finance Agency directed mortgage backers Fannie Mae and Freddie Mac on June 25 to propose single-family mortgage loan risk assessments that consider cryptocurrency on US-regulated exchanges as reserve assets.

These policy shifts were accompanied by surging investor interest in tokenized assets, including tokenized gold — with PAXG and XAUt hitting US$1.54 billion in market cap — and RWA products, particularly within real estate. Momentum was further extended into stablecoin yield products and new ETF filings.

A US$300 million large-scale infrastructure deal between global financial group Macquarie (ASX:MQG) and Bitfarms (TSX:BITF,NASDAQ:BITF) for a high-performance computing center exemplified the growing confidence among fintechs in the long-term viability of digital assets. This growing confidence was further underscored by Robinhood’s (NASDAQ:HOOD) expansion of its crypto footprint, notably with the early June acquisition of Bitstamp.

Combined, these events demonstrated growing market confidence in crypto’s future.

Meanwhile, Ripple’s acquisition of global prime broker Hidden Road signaled a new phase in TradFi-DeFi integration, accompanied by the Fed’s easing of restrictions on banks’ crypto exposure.

The Office of the Comptroller of the Currency’s clarification allowing banks to trade and outsource crypto operations signaled that US regulators increasingly view crypto infrastructure as critical to modern financial services.

Reports of Circle (NYSE:CRCL), BitGo, Coinbase Global (NASDAQ:COIN) and Paxos exploring bank charters further underscored the convergence of TradFi and DeFi, as did Coinbase’s US$100 million credit facility to Riot Platforms (NASDAQ:RIOT); this type of structured financing is typically reserved for banks.

Further solidifying this trend, Stripe finalized a deal to acquire Privy, bringing crypto wallet infrastructure in-house and underscoring how fintech leaders are embedding digital asset rails into their core platforms.

Coinbase also acquired derivatives marketplace Deribit, a US$2.9 billion investment, part of a broader move to dominate digital asset infrastructure and market access. In the retail space, investor exposure widened through Galaxy Digital (NASDAQ:GLXY) and Circle’s Wall Street debut.

Policy also evolved. The GENIUS Act, a legislative companion to the STABLE Act, advanced in the Senate, proposing guardrails for stablecoins while carving out flexibility for banks to issue tokenized deposits, while crypto reserve legislation advanced in New Hampshire, Texas and Arizona.

Still, operational risks remained. A US$223 million exploit hit the Cetus protocol, and Coinbase suffered a US$20 million ransomware attack, reminders that digital assets remain a high-stakes environment.

Bitcoin price performance, Q2 2025. 

Chart courtesy of CoinGecko.

Q3 outlook: Regulatory progress, tokenization growth and market expansion

Further regulatory clarity is expected in Q3, clearing the way to enable more use cases and a deeper integration between DeFi and TradFi. House Republicans are prioritizing the swift enactment of comprehensive stablecoin legislation, aiming to unify the Senate’s GENIUS Act and the House’s STABLE Act.

Meanwhile, the CLARITY Act, which has a broader focus on establishing a general market structure for all digital assets, is positioned for a vote in the House of Representatives after clearing two committees.

Regulators on the SEC’s Crypto Task Force are considering a conditional exemptive order to allow crypto firms to bypass certain broker-dealer, clearing agency and exchange registration requirements. The nuances of regulated staking activities are still being worked out, especially regarding how they apply to specific products like ETFs.

On the retail front, tokenization momentum shows no sign of slowing. A discussion group on RWAs at Consensus agreed that the resurgence of tokenization is largely driven by the utility and functionality it provides to assets.

Beyond efficiency, Carlos Domingo, co-founder and CEO of Securitize, added that tokenization brings assets with intrinsic, real-world value onto the blockchain, allowing new financial applications and broader access to those holdings.

“Now we’re seeing more large-scale production,” he explained.

“We’re seeing (things) like precious minerals coming up, and we’re seeing commodities and other equities, a lot of startups that want to tokenize and use platforms like ours to tokenize their cap tables.”

At Consensus, Arthur Breitman, co-founder of Tezos, explained that his platform, uranium.io, enables the trading of physical uranium using a token, xU3O8, which allows for fractional ownership of a commodity that trades over-the-counter for roughly US$4 million. “Typically, uranium will look at pounds, but you can buy a fraction of a token. So really, you can buy a few cents of xU308,” he told the audience during his presentation.

Additionally, crypto infrastructure development by major fintechs and traditional finance entities, coupled with new public market entrants, could broaden investment opportunities.

For Q3, investors will be monitoring key publicly traded players such as Robinhood, fresh off its Bitstamp acquisition, as well as new Wall Street newcomers Circle and Galaxy Digital.

In the mining and compute infrastructure sector, CoreWeave (NASDAQ:CRWV) is in advanced talks to acquire Core Scientific (NASDAQ:CORZ), marking a move to merge compute-intensive infrastructure with mining operations, driven by crossover demand from AI and crypto sectors.

Beyond dedicated crypto firms, Strategy (NASDAQ:MSTR) and Japan’s Metaplanet (TSE:3350,OTCQX:MTPLF) added substantially to their crypto holdings in Q2, with no signs of slowing down.

For Bitcoin, price projections for Q3 range between a new resistance level around US$120,000 and support at US$75,000. ARK Invest increased its Bitcoin price forecast for 2030 from US$1.5 million to US$2.4 million in Q2, citing growing institutional interest and Bitcoin’s expanding role as “digital gold.’

These developments suggest Q3 will may continue building on the credibility and utility that defined Q2. With regulation advancing, institutional rails expanding and tokenization gaining real-world traction, digital assets are increasingly seen not as a parallel world to the world of finance, but as the next evolution of it.

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

This post appeared first on investingnews.com

The conversation touches on triumph gold’s rationale for expanding into the United States, highlighting the project’s access to year-round work, low dilution, and proximity to major producers such as Rio Tinto and Osisko Development.

‘We’ve added a highly compelling silver project in one of North America’s most mining-friendly jurisdictions,’ Anderson said. ‘Utah allows us to operate year-round, and the acquisition gives us exposure to high-grade silver and regional-scale discovery potential with minimal dilution to our shareholders.’

Other highlights from the interview include:

  • Details on the Coyote Knoll acquisition structure, including share issuance and milestone payments
  • Ongoing strategic value of the company’s flagship Freegold Mountain project in Yukon
  • Exploration potential at Andalusite Peak, Triumph’s underexplored copper-gold property in Northern British Columbia
  • Comments on the permitting environment in Canada and the potential impact of fast-tracking federal legislation

Watch the full interview here:

About triumph gold

triumph gold is a junior exploration company focused on advancing gold, silver and copper assets across North America. The company’s holdings include the Freegold Mountain project in Yukon, Andalusite Peak in British Columbia and the newly acquired Coyote Knoll project in Utah.

For more information: https://triumphgoldcorp.com/

Media Contact

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258113

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com