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Crypto Market Update: Bullish Targets Upsized US$4.82 Billion IPO Valuation

Investing

Here’s a quick recap of the crypto landscape for Monday (August 11) as of 9:00 p.m. UTC.

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

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$118,815, down by 0.1 percent over the last 24 hours and its lowest valuation on Monday. Its highest price for the day was US$120,693.

Bitcoin price performance, August 11, 2025.

Chart via TradingView.

Analyst Omkar Godbole offered a cautious outlook, pointing to lower trading volumes for Bitcoin despite similar prices in July and a Coinbase Global (NASDAQ:COIN) discount suggesting weak US institutional demand.

Ethereum (ETH) has outperformed after a weekend rally.

Ethereum broke past US$4,300 on Monday as FG Nexus announced the acquisition of 47,331 ETH, worth about US$200 million. Meanwhile, data from Etherscan shows rising daily transaction counts over the past several weeks.

Creator coins like ZRO and PUMP also saw gains after announcements like Coinbase’s new DEX feature and LayerZero’s acquisition. Bondex CEO Ignacio Palomera called these developments an evolution in how creators can monetize their content. US consumer price index data on Tuesday (August 12) could fuel or dampen the crypto rally.

Altcoin price update

  • Solana (SOL) was priced at US$176.39, down by 3.6 percent over 24 hours and its lowest valuation for the day. Its highest price was US$180.86.
  • XRP was trading for US$3.16, down 1.7 percent in the past 24 hours and at its lowest valuation of the day. Its highest was US$3.22.
  • Sui (SUI) was trading at US$3.69, down by 5 percent over the past 24 hours, and its lowest valuation of the day. Its highest level was US$3.77.
  • Cardano (ADA) was trading at US$0.783, down by 3 percent over 24 hours and its lowest valuation on Monday. Its highest was US$0.8008.

Today’s crypto news to know

Bullish aims for US$4.82 billion valuation in upsized IPO

Bullish has increased the size of its planned initial public offering (IPO), targeting a valuation of up to US$4.82 billion. It plans to raise as much as US$990 million by selling 30 million shares priced between US$32 and US$33 each, a higher range than its previous filing, but still below its US$9 billion target in a failed 2021 SPAC merger.

The cryptocurrency exchange said it will convert a significant portion of its IPO proceeds into US-dollar-backed stablecoins through partnerships with token issuers. BlackRock-managed funds and Cathie Wood’s ARK Investment have shown interest in purchasing up to US$200 million worth of shares.

Bullish is expected to price the offering on Tuesday and debut on the NYSE under the ticker “FLY” the next day.

Tether and Rumble propose joint acquisition of Northern Data

Tether and Rumble (NASDAQ:RUM) have proposed to jointly acquire all shares of artificial intelligence infrastructure company Northern Data, according to a press release issued on Monday.

According to the proposed terms, USDt issuer Tether, already Northern Data’s largest shareholder, would support the transaction, which would see each Northern Data shareholder receive 2.319 newly issued Class A Rumble shares for each Northern Data share offered, leading to roughly 33.3 percent of Rumble ownership being transferred to Northern Data shareholders. The final exchange ratio may be adjusted for the potential sale of Peak Mining and a related debt reduction, which would increase the exchange ratio.

Subject to definitive documentation, Tether would also significantly increase its investment in Rumble, becoming a key customer with a multi-year GPU purchase commitment.

Chainlink to partner with ICE

Blockchain oracle platform Chainlink announced a partnership with US-based Fortune 500 company Intercontinental Exchange (NYSE:ICE) on Monday to bring foreign exchange and precious metals data onchain.

The collaboration will unite Intercontinental’s consolidated feed, an aggregator of market data from over 300 global exchanges and marketplaces, with Chainlink Data Streams’ derived data sets, which provide market information to power tokenization for over 2,000 decentralized applications and major financial institutions.

This partnership is the latest move to further integrate traditional market infrastructure with blockchain systems.

El Salvador targets wealthy investors with new Bitcoin banking law

El Salvador has approved a new investment banking law designed to attract institutional and high-net-worth crypto investors. Licensed investment banks with at least US$50 million in capital will be able to provide Bitcoin and other digital asset services, but only to clients meeting “sophisticated investor” criteria.

Requirements include at least US$250,000 in liquid assets and advanced financial knowledge.

The banks will be allowed to issue bonds, structure public-private projects and offer digital asset products. Lawmakers say the changes aim to position the country as a regional financial hub and draw in foreign private capital.

The move comes as President Nayib Bukele consolidates political power through constitutional reforms extending presidential terms and removing term limits.

Blue Origin to accept crypto payments for space flights

According to a Monday press release, Jeff Bezos’ Blue Origin has partnered with payment processing company Shift4 Payments (NYSE:FOUR) to allow customers to buy tickets to outer space using crypto and stablecoins.

Trips will take place on Blue Origin’s New Shepard reusable rockets, and direct payments will now be accepted from popular wallets from the likes of MetaMask and Coinbase.

“Our mission has always been to revolutionize commerce by simplifying the transaction process, and we’re thrilled to now extend that vision beyond Earth,” said Taylor Lauber, CEO of Shift4.

“This partnership will enable adventurous travelers to book the adventure of a lifetime, no matter their preferred payment method — all with a simple, frictionless experience,’ he added. Blue Origin has flown more than 75 passengers past the Kármán Line, the boundary separating Earth’s atmosphere and space.

“We believe crypto and stablecoins are going to become an increasingly popular way for consumers to pay, particularly for high-end purchases, as both the consumer and merchant benefit financially from these transactions,” commented Alex Wilson, head of crypto at Shift4.

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

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

This post appeared first on investingnews.com

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A top Federal Reserve official says bleak jobs data backs the case for 3 rate cuts

Business

NEW YORK — A top official at the Federal Reserve said Saturday that this month’s stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower.

Michelle Bowman was one of two Fed officials who voted a week and a half ago in favor of cutting interest rates. Such a move could help boost the economy by making it cheaper for people to borrow money to buy a house or a car, but it could also threaten to push inflation higher.

Bowman and a fellow dissenter lost out after nine other Fed officials voted to keep interest rates steady, as the Fed has been doing all year. The Fed’s chair, Jerome Powell, has been adamant that he wants to wait for more data about how President Donald Trump’s tariffs are affecting inflation before the Fed makes its next move.

At a speech during a bankers’ conference in Colorado on Saturday, Bowman said that “the latest labor market data reinforce my view” that the Fed should cut interest rates three times this year. The Fed has only three meetings left on the schedule in 2025.

The jobs report that arrived last week, only a couple of days after the Fed voted on interest rates, showed that employers hired far fewer workers last month than economists expected. It also said that hiring in prior months was much lower than initially thought.

On inflation, meanwhile, Bowman said she is getting more confident that Trump’s tariffs “will not present a persistent shock to inflation” and sees it moving closer to the Fed’s 2% target. Inflation has come down substantially since hitting a peak above 9% after the pandemic, but it has been stubbornly remaining above 2%.

The Fed’s job is to keep the job market strong, while keeping a lid on inflation. Its challenge is that it has one main tool to affect both those areas, and helping one by moving interest rates up or down often means hurting the other.

A fear is that Trump’s tariffs could box in the Federal Reserve by sticking the economy in a worst-case scenario called “stagflation,” where the economy stagnates but inflation is high. The Fed has no good tool to fix that, and it would likely have to prioritize either the job market or inflation before helping the other.

On Wall Street, expectations are that the Fed will have to cut interest rates at its next meeting in September after the U.S. jobs report came in so much below economists’ expectations.

Trump has been calling angrily for lower interest rates, often personally insulting Powell while doing so. He has the opportunity to add another person to the Fed’s board of governors after an appointee of former President Joe Biden stepped down recently.

This post appeared first on NBC NEWS

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What Trump’s Nvidia and AMD China deal means for the world

Business

Nvidia and AMD have agreed to share 15% of their revenue from sales to China with the U.S. government, the White House confirmed Monday, sparking debate about whether the move could affect the chip giants’ business and whether Washington might seek similar deals.

In exchange for the revenue cut, the two semiconductor companies will receive export licenses to sell Nvidia’s H20 and AMD’s MI308 chips in China, according to the Financial Times.

“We follow rules the U.S. government sets for our participation in worldwide markets. While we haven’t shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide,” Nvidia said in a statement to NBC News. “America cannot repeat 5G and lose telecommunication leadership. America’s AI tech stack can be the world’s standard if we race.”

AMD said in a statement that its initial license applications to export MI308 chips to China have been approved.

The arrangement crafted by President Donald Trump’s administration is “unusual,” analysts told CNBC, but underscores his transactional nature. Meanwhile, investors see the move as broadly positive for both Nvidia and AMD, which once more secure access to the Chinese market.

Nvidia’s H20 is a chip that has been specifically created to meet export requirements to China. It was previously banned under export curbs, but the company last month said it expected to receive licenses to send the product to China.

Also in July, AMD said it would resume exports of its MI308 chips.

At the time, there was no suggestion that the resumption of sales to China would come with conditions or any kind of revenue forfeiture, and the step was celebrated by markets because of the billions of dollars worth of potential sales to China that were back on the table.

On Monday, Nvidia shares rose modestly, while AMD’s stock was up more than 2%, highlighting how investors believe the latest development is not a major negative for the companies.

“From an investor perspective, it’s still a net positive, 85% of the revenue is better than zero,” Ben Barringer, global technology analyst at Quilter Cheviot, told CNBC.

“The question will be whether Nvidia and AMD adjust their prices by 15% to account for the levy, but ultimately it’s better that they can sell into the market rather than hand the market over entirely to Huawei.”

Huawei is Nvidia and AMD’s closest Chinese rival.

Uncertainty, nevertheless, still looms for both U.S. companies over the longer term.

“In the short term, the deal gives both companies some certainties for their exports to China,’ George Chen, partner and co-chair of the digital practice at The Asia Group, told CNBC. ‘For the long term, we don’t know if the U.S. government may want to take a bigger cut from their China business especially if their sales to China keep growing.’

Multiple analysts told CNBC that the deal is “unusual,” but almost par for the course for Trump.

“It’s a good development, albeit a strange one, and feels like the sort of arrangement you might expect from President Trump, who is a deal-maker at heart. He’s willing to yield, but only if he gets something in return, and this certainly sets an unusual precedent,” Barringer said.

Neil Shah, partner at Counterpoint Research, said the revenue cut is equivalent to an “indirect tariff at source.”

Daniel Newman, CEO of The Futurum Group, also posted Sunday on X that the move is a “sort of ‘tax’ for doing business in China.”

But such deals are unlikely to be cut for other companies.

“I don’t anticipate it extending to other sectors that are just as important to the U.S. economy like software and services,” Nick Patience, practice lead for AI at The Futurum Group, told CNBC.

The U.S. sees semiconductors as a strategic technology, given they underpin so many other tools like artificial intelligence, consumer electronics and even military applications. Washington has therefore put chips under an export control regime unlike that of any other product.

“Semiconductor is a very unique business and the pay-to-play tactic may work for Nvidia and AMD because it’s very much about getting export approval from the U.S. gov,” the Asia Group’s Chen said.

“Other business like Apple and Meta can be more complicated when it comes to their business models and services for China.”

Semiconductors have become a highly sensitive geopolitical topic. Over the last two weeks, China has raised concerns about the security of Nvidia’s chips.

Late last month, Chinese regulators asked Nvidia to “clarify” reports about potential security vulnerabilities and “backdoors.” Nvidia rejected the possibility that its chips have any “backdoors” that would allow anyone to access or control them. On Sunday, Nvidia again denied that its H20 semiconductors have backdoors after accusations from a social media account affiliated with Chinese state media.

China’s state-run newspaper Global Times slammed Washington’s tactics, citing an expert.

“This approach means that the US government has repudiated its original security justification to pressure US chip makers to secure export licenses to China through economic leverage,” the Global Times article said.

The Chinese government is yet to comment on the reported revenue agreement.

Trump’s deal with Nvidia and AMD will likely stir mixed feelings in China. On the one hand, China will be unhappy with the arrangement. On the other hand, Chinese firms will likely want to get their hands on these chips to continue to advance their own AI capabilities.

“For China, it is a conundrum as they need those chips to advance their AI ambitions but also the fee to the US government could make it costlier and there is a doubt of US ‘backdoors’ considering US has agreed for chipmakers to supply,” Counterpoint Research’s Shah said.

— CNBC’s Erin Doherty contributed to this report.

This post appeared first on NBC NEWS

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Crypto Market Update: Trump Orders 401(k) Crypto Review, ETH Treasury Vehicle Files to Raise Billions

Investing

Here’s a quick recap of the crypto landscape for Friday (August 8) as of 9:00 p.m. UTC.

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

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$116,454, down by 0.8 percent over the last 24 hours. Its lowest valuation on Friday was US$115,979, while its highest valuation was US$117,038.

Bitcoin price performance, August 8, 2025.

Chart via TradingView.

An executive order from the Trump administration about the addition of cryptocurrency investment options to federally regulated 401(k) retirement plans could trigger an influx of new capital and drive up Bitcoin’s price.

Separately, over US$1 billion in Bitcoin call options are set to activate if Bitcoin hits US$200,000 on December 26, when US$8.8 billion in options are set to expire; however, experts believe the presence of these call options reflects strategic positioning rather than a widespread belief in a year-end surge to that level. Cointelegraph analyst Marcel Pechman notes that pro traders are using far-out-of-the-money calls in structured strategies like diagonal spreads and inverse butterflies to manage risk and seek asymmetric upside, not as direct bets on extreme price targets.

Ethereum (ETH) was priced at US$4,053, up by 4.9 percent over the past 24 hours and its highest valuation of the day. Its lowest valuation on Friday was US$3,910 at the start of trading.

Altcoin price update

  • Solana (SOL) was priced at US$178.05, up by 3.8 percent over 24 hours. Its lowest valuation on Friday was US$174.86, and its highest was US$179.36.
  • XRP was trading for US$3.30, up by 6.6 percent in the past 24 hours. Its lowest valuation of the day was US$3.22, and its highest price was US$3.35.
  • Sui (SUI) was trading at US$3.85, up 3.1 percent over the past 24 hours. Its lowest valuation of the day was US$3.73, and its highest was US$3.86.
  • Cardano (ADA) was trading at US$0.7964, up by 4.2 percent over 24 hours. Its lowest valuation on Friday was US$0.7787, and its highest was US$0.8022.

Today’s crypto news to know

Trump order opens door for crypto and private equity in 401(k)s

US President Donald Trump has signed an executive order directing the Department of Labor to review its fiduciary rules for retirement plans, potentially clearing the way for assets like cryptocurrencies, private equity and real estate to be included in 401(k)s. While no laws have changed, the move signals a potential shift from the Biden era.

The Employee Retirement Income Security Act still requires fiduciaries to choose “prudent” investments, meaning employers will need to justify the inclusion of volatile or opaque assets. Legal experts say the order could influence how federal agencies interpret the rules, but it won’t override decades of court precedents on fiduciary duty.

For now, employers remain cautious due to the risk of lawsuits over imprudent or overly expensive options. Crypto in 401(k)s remains rare, though large firms like BlackRock are already exploring target-date funds with alternative assets.

SEC and Ripple dismiss appeals, ending lawsuit

Ripple and the US Securities and Exchange Commission (SEC) have dismissed their respective appeals, effectively ending a five-year lawsuit, as per a brief filing on Thursday (August 7) with the Court of Appeals for the Second Circuit.

“Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s chief legal officer, Stuart Alderoty, wrote on X.

The SEC sued Ripple in 2020 for selling XRP as an unregistered security. A July 2023 ruling by Judge Analisa Torres found XRP was not a security when sold on public exchanges, but was when sold to institutional investors.

The SEC appealed, and Ripple cross appealed. However, this past April, both parties filed a joint motion to pause their appeals, hinting at a settlement. They settled in May, asking Torres to dissolve the injunction and lower the US$125 million fine. She denied that in June, stating that Ripple must still follow federal securities laws.

Following the announcement, open interest in XRP grew by over 15 percent in 24 hours and futures volumes rose by over 233 percent, according to Coinglass data.

Parataxis to go public via SPAC merger

Bitcoin asset manager Parataxis announced its plan to go public by merging with a special purpose acquisition company (SPAC) called SilverBox Corp. IV on Wednesday (August 6).

The deal aims to raise up to US$640 million to “support acceleration of digital asset purchases and support long-term strategy.’ It implies a total pro forma equity value of up to US$800 million for the combined company, assuming the US$10 share price and no redemptions. The new public company will be named Parataxis Holdings and will trade on the New York Stock Exchange under the ticker symbol “PRTX.”

The company’s goal is to launch a yield-enhanced Bitcoin treasury strategy in the US and South Korea. The deal also includes an equity line of credit to raise additional funds. This will allow it to continue accumulating Bitcoin.

The company has already allocated US$31 million for an initial Bitcoin purchase.

Fundamental Global files to raise funds for ETH accumulation

Fundamental Global (NASDAQ:FGF), a new Ethereum treasury vehicle, has filed to raise US$5 billion, signaling the potential emergence of a new mega whale in the Ethereum market.

According to a Friday press release, the company aims to use the majority of the proceeds from a potential US$4 billion common stock offering to acquire a 10 percent stake in the Ethereum network.

“This US$5 billion shelf filing represents a significant step in our capital raising capabilities and positions us to move with speed and scale when capital deployment opportunities arise,” said CEO and Chairman Kyle Cerminara.

“We believe this framework will enable us to capitalize on ETH accumulation opportunities and support our target of a 10 percent stake in the Ethereum Network,’ he added.

Binance partners with Spain’s BBVA to bolster asset security

Binance is teaming up with Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second largest bank, to give customers the option of storing their assets with a regulated custodian rather than directly on the exchange.

The arrangement is designed to reassure investors after Binance’s US$4.3 billion fine from US regulators in 2023 over anti-money laundering failures. With BBVA acting as an independent custodian, customer funds would remain secure even if Binance faced hacking, insolvency or further regulatory action.

The partnership leverages BBVA’s strong reputation for compliance and innovation, aiming to encourage more cautious investors to engage with crypto. The move also follows leadership changes at Binance, including founder Changpeng Zhao’s resignation and brief prison sentence, as the company works to repair its image.

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

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

This post appeared first on investingnews.com

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Tech 5: Tesla Pulls Plug on Dojo, Chipmakers Largely Exempt from Trump’s Tariffs

Investing

This week saw tech stocks push the Nasdaq Composite (INDEXNASDAQ:.IXIC) to its best week since June.

However, on Monday (August 4), multiple news outlets reported that various Wall Street firms were warning of a near-term drop in the S&P 500 (INDEXSP:.INX) after its strong rally. In a note to clients, Mike Wilson of Morgan Stanley (NYSE:MS) forecasts that tariffs, which went into effect this week, will lead to a 10 percent correction.

“Over the last couple of weeks, we have noted that investors should expect a modest pullback in the third quarter,” Wilson wrote. Julian Emanuel of Evercore (NYSE:EVR) anticipates a 15 percent drop. Additionally, Parag Thatte’s team at Deutsche Bank (NYSE:DB) points to an overdue drawdown following three months of equity expansion.

Markets appear to have disregarded the warnings, as economic data released this week has revived expectations for interest rate cuts. Stephen Miran, US President Donald Trump’s interim selection for Adriana Kugler’s position as chair of the Council of Economic Advisers, has further fueled these expectations. According to CME Group’s (NASDAQ:CME) Fedwatch tool, traders now anticipate a nearly 90 percent probability of a rate cut next month.

Furthermore, exemptions to the Trump administration’s tariffs for companies investing in US manufacturing capacity led to a midweek rally in tech stocks that persisted through to Friday (August 8).

1. OpenAI’s busy week

On Wednesday (August 6), OpenAI unveiled the long-awaited GPT-5 version of ChatGPT, which CEO Sam Altman described as a “significant step” along the path to artificial general intelligence (AGI).

Altman declared that GPT-5 gives users PhD-level expert assistance on any subject, with fewer hallucinations, as well as superior coding abilities that could lead to an era of “software on demand.’

“Something like GPT-5 would be pretty much unimaginable in any other time in history,” he said during a pre-briefing with journalists on Wednesday. While GPT-5 exhibits signs of broad intelligence, Altman clarified that it lacks a key characteristic of AGI: the ability to learn and improve autonomously.

Concurrently, OpenAI for Government announced it is partnering with the US General Services Administration to offer ChatGPT Enterprise to the federal executive branch workforce for US$1 per agency for the next year.

In a statement to Wired, Altman said the agreement was part of Trump’s Artificial Intelligence (AI) Action Plan, which is geared at leveraging AI to better serve the American people.

Additionally, the company reportedly engaged in early discussions this week for a secondary stock sale that would increase its valuation to US$500 billion. During an interview with Schwab Network, Ben Emons, chief investment officer and founder of FedWatch Advisors, said OpenAI’s valuation could hit US$1 trillion.

A recent report by the Information found that OpenAI has hit an annualized run rate of US$12 billion, roughly double the US$6 billion recorded in revenue in the first half of 2025.

OpenAI also introduced a pair of freely available models this week, which Amazon (NASDAQ:AMZN) will offer to cloud-computing clients.

2. Stocks react to chip tariff exemptions

Trump announced plans to impose a nearly 100 percent tariff on semiconductor chips on Wednesday, but carved out an exemption for companies investing in US manufacturing capacity.

After a meeting at the White House, Apple (NASDAQ:AAPL) CEO Tim Cook pledged an additional US$100 billion investment in US manufacturing capacity, bringing its total commitment to US$600 billion over the next four years.

However, final assembly is expected to remain overseas “for a while,” according to Cook, and the announcement did not include any mention of future iPhone assembly in the US.

Apple performance, August 5 to 8, 2025.

Chart via Google Finance.

The pledge led to a significant market reaction, with Apple shares climbing over 4 percent, leading gains on Wall Street.

Taiwan Semiconductor Manufacturing Company (NYSE:TSM) also saw strong gains after it was reported that National Development Council Chief Liu Chin-ching told parliament that the company will be exempt since it has factories in the US, referring to fabrication plants currently under construction in Arizona.

However, he added that some of Taiwan’s chipmakers will be affected.

Likewise, South Korean trade officials stated that Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) will both avoid the tariffs due to their investments in US manufacturing facilities. Samsung has two chip fabrication plants in Texas, while SK Hynix is building a new advanced chip packaging and R&D facility in Indiana.

3. Firefly Aerospace makes explosive Nasdaq debut

Firefly Aerospace (NASDAQ:FLY) made a strong debut on the Nasdaq Global Market on Thursday (August 7).

The stock opened at US$70 per share, a significant jump from its initial public offering price of US$45.

After first targeting between US$35 and US$39 per share, the company raised the price from US$41 to US$43 on Tuesday (August 5). Firefly was valued at over US$2 billion after a Series D funding round in November 2024.

Its opening price represented a further increase. After briefly topping US$73.80, the company closed its first day on the market at US$60.35, raising US$868.3 million and achieving a valuation of approximately US$8.5 billion.

The company experienced a moderate pullback on Friday, opening at US$54.85 before briefly touching US$57.07; it then closed the week at US$50.17.

4. Tesla desbands Dojo team

Tesla (NASDAQ:TSLA) CEO Elon Musk confirmed reports that the company is disbanding its Dojo supercomputer team, posting to X on Thursday evening:

“It doesn’t make sense for Tesla to divide its resources and scale two quite different AI chip designs.

“The Tesla AI5, AI6 and subsequent chips will be excellent for inference and at least pretty good for training. All effort is focused on that.”

Tesla intended for Dojo to facilitate the training of its Autopilot and Full Self-Driving systems.

Sources for Bloomberg, which first reported the story, said Tesla will rely on partners like NVIDIA (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD) and Samsung for chip manufacturing.

This move contradicts Musk’s commitments to “double down on Dojo” during his company’s second quarter earnings call on July 23. The development follows a letter sent to shareholders by two Tesla directors on Monday explaining the board’s decision to grant Musk a US$23.7 billion stock award.

Robyn Denholm, chair of Tesla’s board of directors, and Kathleen Wilson-Thompson, a director, said the decision was driven by Tesla’s transition from electric vehicles to AI and robotics.

The letter emphasizes the critical need to motivate Musk, stating that his involvement is essential for attracting and retaining talent at Tesla, especially as competition for AI talent intensifies.

5. Palantir reports solid growth in Q2

Major software company Palantir Technologies (NASDAQ:PLTR) reported its Q2 earnings on Monday, revealing revenue growth of 48 percent to US$1.003 billion. Shares of the company opened over 7 percent higher on Tuesday and continued to rise, finishing the week up nearly 18 percent.

Palantir Technologies performance, August 5 to 8, 2025.

Chart via Google Finance.

“This was a phenomenal quarter. We continue to see the astonishing impact of AI leverage,’ said Alex C. Karp, co-founder and CEO of Palantir, in a press release. “We are guiding to the highest sequential quarterly revenue growth in our company’s history, representing 50 percent year-over-year growth.”

Free cashflow rose by 282 percent to US$568.7 million. The company is projecting further revenue growth of around 49 percent in the third quarter. Its share price is up over 145 percent year-to-date after starting the year at US$76.20. As of Friday’s closing bell, shares of Palantir were trading for US$186.96.

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

This post appeared first on investingnews.com

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Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more

Business

Bed Bath & Beyond is back — kind of.

The bankrupt home goods chain is being resurrected by the owners and licensees of its intellectual property, which opened the first new Bed Bath & Beyond store in Nashville, Tennessee, on Friday with potentially dozens of more to come.

This time around, the store has a new name — Bed Bath & Beyond Home — and marks a “fresh start” for the beloved brand, said Amy Sullivan, the CEO of The Brand House Collective, the store’s operator.

“We’re proud to reintroduce one of retail’s most iconic names with the launch of Bed Bath & Beyond Home, beautifully reimagined for how families gather at home today,” Sullivan said in a news release. “With Bed Bath & Beyond Home we’re delivering on our mission to offer great brands, for any budget, in every room. It’s a powerful addition to our portfolio and a meaningful step forward in our transformation.”

In honor of the brand’s legacy, the new store will accept the brand’s famous 20% coupon, regardless of when it expired.

“We encourage guests to bring in their legacy Bed Bath & Beyond coupons which we will gladly honor,” the company said in a news release. “The coupon we all know and love is back and for those who need one, a fresh version will be waiting at the door.”

Bed Bath and Beyond 2.0 has been several years in the making and involved a rigmarole of corporate acquisitions and rebrandings. When the original Bed Bath and Beyond filed for bankruptcy in April 2023 following a string of corporate missteps, it struggled to find a buyer and ended up liquidating and selling off its business in parts. Overstock.com later bought the brand’s intellectual property, rebranded its business to Beyond Inc. and launched an online-only version of Bed Bath and Beyond.

What followed from there was a dizzying array of corporate deal-making. Ultimately, Beyond took an ownership stake in Kirkland’s Inc., a home decor chain with around 300 stores across the U.S., and gave it the exclusive license to develop and create Bed Bath & Beyond Home stores, as well as Buy Buy Baby stores.

Kirkland’s later rebranded to The Brand House Collective and plans to convert some of its existing Kirkland’s Home stores into more Bed Bath and Beyond shops. Friday’s launch in Nashville is the first of six planned for the market and, pending the results, it plans to convert around 75 additional stores through 2026.

The company said it chose Nashville for the launch because of its proximity to its corporate headquarters, which will allow it to “closely manage every detail and set the standard for future rollouts.”

While the relaunch is exciting for fans of the legacy brand, it comes at a difficult time for the home decor market. In many ways, Bed Bath & Beyond’s bankruptcy was the fault of its management team and execution missteps, but it also faced macro challenges as well, experts said at the time. Competition from players like Amazon, Walmart, Home Goods and Wayfair has made it harder for other brands to capture customer spend, and the overall sector has been soft for several years because of high interest rates and the sluggish housing market.

Even the current leaders in the home decor space have seen soft trends and it’s unlikely that will change until interest rates fall and the housing market picks back up, some analysts have said.

This post appeared first on NBC NEWS

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Lode Gold Completes Final Tranche Financing for Total $1.51 Million

Investing

Lode Gold Resources Inc. (TSXV: LOD,OTC:LODFF) (OTCQB: LODFF) (‘Lode Gold’ or the ‘Company’) is pleased to announce that it has completed the third and final tranche of its previously announced non-brokered private placement offering for $1 million. In this final tranche, the Company has raised an additional $326,780 through the issuance of 1,815,446 Units at a price of $0.18 per Unit. The Company has now raised a total of $1,513,768 through the issuance of 8,409,825 Units.

Each $0.18 unit consists of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at an exercise price of $0.35 per common share for a period of three years following the date of closing.

The Company may accelerate the warrant expiry date if the Company’s shares trade at $0.65 or more for a period of 10 days, including days where no trading occurs. The closing of the offering is expected to occur one business day following receipt of all required regulatory approvals.

The proceeds raised from the offering will go toward execution of the business plans for Lode Gold and its subsidiary, Gold Orogen (BC 1475039 Ltd.).

About Lode Gold

Lode Gold (TSXV: LOD,OTC:LODFF) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

In Canada Lode Gold holds assets in the Yukon and New Brunswick. Lode Gold’s Yukon assets are located on the southern portion of the prolific Tombstone Belt and cover approximately 99.5 km2 across a 27 km strike. Over 4,500 m have been drilled on the Yukon assets with confirmed gold endowment and economic drill intercepts over 50 m. There are four reduced-intrusive targets (RIRGS), in addition to sedimentary-hosted orogenic exploration gold.

In New Brunswick, Lode Gold, through its subsidiary 1475039 B.C. Ltd., has created one of the largest land packages in the province with its Acadian Gold Joint Venture, consisting of an area that spans 445 km2 with a 44 km strike. It has confirmed gold endowment with mineralized rhyolites.

In the United States, the Company is focused on its advanced exploration and development asset, the Fremont Mine in Mariposa, California. It has a recent 2025 NI 43-101 report and compliant MRE that can be accessed here https://lode-gold.com/project/freemont-gold-usa/.

Fremont was previously mined until gold mining prohibition in WWII, when its mining license was suspended. Only 8% of the resource identified in the 2025 MRE has been extracted. This asset has exploration upside and is open at depth (three step-out holes at 1,300 m hit structure and were mineralized) and on strike. This is a brownfield project with over 43,000 m drilled, 23 km of underground workings and 14 adits. The project has excellent infrastructure with close access to electricity, water, state highways, railhead and port.

The Company recently completed an internal scoping study evaluating the potential to resume operations at Fremont based on 100% underground mining. Previously, in March 2023, the Company completed a Preliminary Economic Assessment (‘PEA’) in accordance with NI 43-101 which evaluated a mix of open pit and underground mining. The PEA and other technical reports prepared on the Company’s properties are available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.lode-gold.com).

ON BEHALF OF THE COMPANY
Wendy T. Chan
CEO & Director

Information Contact:

Wendy T. Chan
CEO
info@lode-gold.com
+1-(604)-977-GOLD (4653)

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (604) -977-GOLD (4653)

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.

Cautionary Statement Regarding Forward-Looking Information

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

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company’s interpretation of drill results; the geology, grade and continuity of the Company’s mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading ‘Risks and Uncertainties’ in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261839

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Agriculture Market Update: Q2 2025 in Review

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Fertilizer prices continued to rise in Q2, driven by supply shortages as well as fallout from US tariffs.

According to data from the World Bank, the average quarterly phosphate price rose to US$673.20 per metric ton (MT) during the April to June period, up from US$600.50 in Q1 and US$536.70 recorded in the second quarter of 2024.

On a monthly basis, the price averaged US$715.40 in June, up from US$582.70 in January.

Potash prices have also gained since the start of the year, with the quarterly average rising to US$359.20 per MT from US$319.20 in Q1. The monthly price posted consistent increases, rising to US$363.13 in June from US$302 in January.

What factors impacted phosphate in Q2?

Phosphate prices have risen over the last several years as China, the world’s largest supplier, continues to impose export restrictions on the amount of fertilizers allowed to leave the country.

Between 2021 and 2024, China’s phosphate exports experienced significant declines, falling from 9 million MT to 6.6 million MT. Then, in December 2024, China halted new export applications for phosphate due to the rising cost of sulfur, which is necessary for separating phosphates from rock.

In an April 22 article, Josh Linville, vice president of fertilizer at StoneX, noted that during the first three months of 2022, China exported 950,000 MT of phosphate, but only 13,000 MT during the same period in 2025.

At the time, Linville suggested that even if there were to be a shift in Chinese policy during the second quarter, it might not lead to an increase in exports due to a lack of inventory in the country.

“It appears that while they have increased their urea export quota, the same is not expected for phosphate. We continue to believe that domestic demand has been raised due to a combination of agriculture and industrial demand spikes.’

India is among the main drivers of agricultural demand, and the country has been working to rebuild its stockpiles of fertilizer since they reached a low of 1.1 million MT in late 2024. With Chinese supply missing from the equation, importers have had to pay premiums to other major producers in Morocco and Saudi Arabia.

The result has led to a 44 percent increase in Indian imports, which are expected to reach 1.09 million MT for July and 2.16 million MT for the April to July period, while also pushing prices for phosphate upward.

Adding to market stressors since the start of the year are tariffs on products entering the US. As Linville pointed out, phosphate production is limited mainly to five countries: China, Morocco, Russia, the US and Saudi Arabia.

The US is not able to meet domestic demand and has been reliant on Saudi Arabia, which was free of tariffs until it came under the umbrella of Trump’s 10 percent baseline tariffs when he announced them on April 1.

However, given the tightness in the phosphate market, suppliers are unlikely to absorb any additional costs.

“Globally, supplies are very tight, and demand continues to be high, so global manufacturers can be picky about where they send their products. Given that they want to make more money, they are likely deciding to send the product to their highest netback location. Saudi Arabia has been heard telling US customers that they have no problem sending products to the US if they pay the tariff rate,” Linville explained. He added that the extra 10 percent on the current phosphate prices is a significant cost, and will ultimately flow down to US farmers.

What factors impacted potash in Q2?

Potash prices have steadily increased since the start of the year, but the market has been relatively quiet.

“Today, potash is seeing a little price support due to perceived tight supplies and large demand,’ said Linville.

Since the start of the year, potash prices have increased by 20 percent, rising to US$363 in June from US$302 in January. On a year-on-year basis, the June price is up 17 percent from the US$310 recorded in 2024. However, prices are far from the all-time high of US$1,200 set in April 2022 as supply lines were disrupted after Russia’s invasion of Ukraine.

With minimal potash production of its own, the US is reliant on imports. Traditionally, those have come from Canada, which is the world’s top supplier of fertilizer, but also to a lesser extent, Russia, which is number two.

While uncertainty remains about whether tariffs will have a direct effect on prices for potash, Linville suggested that there may be some cost increases stemming from this uncertainty.

“To date, Russia has not had a duty or tariff regarding potash, so the product has been allowed to flow freely. Our belief is that Canadian potash has never been subjected to an actual tariff rate given its standing on the North American trade agreements. However, with so much confusion regarding what is real and what is not out there, the fear that it might be included helped to push prices higher almost constantly since the start of 2025,’ he said.

‘Again, those prices make their way to the farm gate.’

New supply set to come online includes BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) Jansen mine in Saskatchewan. It was originally set to start production in 2026; however, in its Q2 operational review, released on July 18, BHP announced that the project costs had ballooned to the US$7 billion to US$7.4 billion range, up from US$5.7 billion.

The increase has impacted the project’s timeline. Up until the announcement, development was ahead of schedule and was expected to start in 2026, but it has since reverted to the original timeline that will see it begin in 2027.

Additionally, BHP said it was considering pushing the second stage of production back to 2031 while it undergoes a CAPEX review, citing the potential for additional potash supply coming to market in the medium term.

“The comment about the medium-term supply outlook was a rather small and inconspicuous part of the announcement, but I continue to believe it says loads more about the outlook,” Linville said about BHP’s decision to review stage two.

Potash and phosphate price forecast for 2025

The phosphate market is unlikely to change in the near term.

There isn’t much expectation that China will increase supply, and while there are some significant projects in the works, how many will enter the production is yet to be seen as demand continues to increase from the battery sector.

Linville sees a continuation of current trends, noting that the market isn’t in a place to recover quickly:

“A major discussion point has been surrounding demand destruction that is anticipated. The hope is that this will help values to fall. Unfortunately, I think the market continues to underestimate how bad of a shape phosphate is in.’

As for potash, Linville expects the market to maintain stability.

“My longer-term outlook is that potash values will see relatively little price volatility, and that lower prices should become common. However, the stage appears set for 2025. Summer fill programs have been successful. Demand continues to look good. Anything is possible, but it appears price structures for potash are stable to higher,” he said.

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

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Prismo Metals Announces Closing of Oversubscribed Private Placement

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(TheNewswire)

Vancouver, British Columbia, August 8th, 2025 TheNewswire Prismo Metals Inc. (‘ Prismo ‘ or the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that further to its news releases dated July 3, 2025, July 18, 2025 and July 31, 2025, the Company has proceeded with an upsized closing of its previously announced non-brokered private placement (the ‘Private Placement’ ) of units of the Company (‘ Units ‘) at an issue price of $0.06 per Unit (the ‘ Third Closing ‘). The closing was increased from 6,000,000 Units to the issuance of 6,425,000 Units for gross proceeds of $385,500.

Each Unit consists of one common share of the Company (a ‘ Share ‘) and one-half of one common share purchase warrant of the Company (each whole warrant, a ‘ Warrant ‘). Each Warrant entitles the holder to purchase one Share for a period of twenty-four (24) months from the date of issue at an exercise price of $0.10.

‘In the past few weeks, we have raised a total of $1,077,500 in gross proceeds reflecting investors’ interest in our recently optioned silver projects in Arizona, the historical high-grade Silver King and Ripsey mines,’ said Alain Lambert, CEO. ‘Exploration at Silver King is currently underway and our Chief Exploration Officer, Dr. Craig Gibson, has put in place a comprehensive first year exploration plan which includes a phase one drill program of a minimum of 1,000 meters.’

Dr. Craig Gibson, Prismo’s Chief Exploration Officer said: ‘The team has arrived on site, and we have begun a detailed mapping and sampling program at both projects at surface exposures and in accessible underground workings. A drill program is planned for Silver King, with about 1,000 metres initially. The Silver King drill program is designed to test the mineralized body at four elevations, as well as lateral to the pipelike body. Dewatering of the Silver King shaft to gain access to the upper levels may also be undertaken as submersible pumps are in place.’

The Company previously announced a first closing of the Private Placement on July 18, 2025 for aggregate gross proceeds of $575,000 and a second closing of the Private Placement on July 31, 2025 for aggregate gross proceeds of $ 117,000 . Due to strong investor demand, the Company has now raised aggregate gross proceeds of $1,077,500. The Company intends to use the aggregate proceeds from the Private Placement for exploration at the Company’s Silver King project as well as for working capital and general corporate purposes. There may be circumstances, however, where for sound business reasons, a reallocation of funds may be necessary.

Prismo also announces that further to its news release dated July 31, 2025, it has settled the debt settlement agreement (the ‘ Agreement ‘) with a creditor of the Company (the ‘ Creditor ‘) pursuant to which the Company issued to the Creditor, and the Creditor accepted, an aggregate of 1,375,000 common shares of the Company (each, a ‘ Settlement Share ‘) at a price of $0.06 per Settlement Share in full and final settlement of accrued and previously outstanding indebtedness owing to the Creditor in the aggregate amount of US $60,000 (CA $82,500) (the ‘ Debt Settlement ‘). The Creditor is one of the original optionors of the Palos Verdes silver project in Mexico, and the Debt Settlement was the final payment owed to the Creditor.

‘The Palos Verdes project remains an important asset for Prismo Metals,’ said Alain Lambert, CEO. ‘We continue to monitor Vizsla Silver’s exploration activities in the Panuco district and how it might impact our exploration plan at Palos Verdes. Mr. Lambert noted: ‘In their July 29 th , 2025 news release , Vizsla Silver stated: Notable targets to be tested in the central, and east area of the district with potential to host similar mineral resources to that outlined in Project #1 in the west include: Jesusita-Palos Verdes is a northeast trending vein target in the east area of the district. Positive drill results and alteration-based interpretations done by Prismo Metals, combined with significant silver anomalies on surface and extensive vein outcrops warrant additional drilling at depth. ‘

The Palos Verdes project is located in the historic Panuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 kilometers NE of Mazatlán, Sinaloa, in the Municipality of Concordia. The Palos Verdes concession (claim) covers 700 meters of strike length of the Palos Verdes vein, a member of the north-easterly trending vein family located in the eastern part of the district outside of the area of modern exploration. The project is surrounded on three sides by Vizsla Silver Corp. (TSE: VZLA).

Shallow drilling (

In connection with the Third Closing, the Company issued an aggregate of 288,900 finder’s warrants (the ‘Finder’s Warrants’ ) and paid finder’s commissions of $17,334.00 to a qualified finder. Each Finder’s Warrant is exercisable for a period of 24 months from the date of issuance to purchase one Share at a price of $0.10.

All securities issued or issuable in connection with the Private Placement and the Debt Settlement are subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

Multilateral Instrument 61-101

The Company has issued an aggregate of 10,000 Units pursuant to the Third Closing to a ‘related party’ of the Company (the ‘ Interested Party ‘), constituting, to that extent, a ‘related party transaction’ as defined under Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (‘ MI 61-101 ‘). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the Interested Party in the Third Closing in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Third Closing nor the securities issued in connection therewith, in so far as the Third Closing involves the Interested Party, exceeds 25% of the Company’s market capitalization. The Company did not file a material change report more than 21 days before the expected closing of the Third Closing as the details of the Third Closing and the participation therein by the Interested Party therein were not settled until recently and the Company wishes to close on an expedited basis for sound business reasons.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is mining exploration company focused on three silver projects (Palos Verdes, Silver King and Ripsey) and a copper project in Arizona (Hot Breccia).

Please follow @PrismoMetals on , , , Instagram , and

Prismo Metals Inc.

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

Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alambert@cpvcgroup.ca

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

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

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the potential inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated; and other risk factors as detailed  from  time  to  time  and  additional  risks  identified  in  the  Company’s  filings  with  Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca ).

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

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

Copyright (c) 2025 TheNewswire – All rights reserved.

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