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The U.S. Equal Employment Opportunity Commission said Wednesday that it is investigating Nike for allegedly discriminating against white workers.

The agency that polices discrimination in the workplace filed an action in federal court in Missouri to compel the publicly traded athletic shoe and apparel giant to produce information in response to a subpoena the agency served on the company last fall, according to court filings reviewed by NBC News.

The EEOC said it was investigating allegations that the company’s mentorship and training programs and its personnel decisions gave nonwhite employees preferential treatment that amounts, according to the agency, to discrimination against white workers.

Nike is the world’s largest sportswear and apparel company, with nearly 80,000 employees and revenues of around $51.4 billion in 2024.

The allegations were not made by workers at Nike who believed they had been the targets of unfair treatment, however, as is typically the case in EEOC investigations.

Instead, the court filings show that this case stems from a commissioner’s charge brought by then-commissioner Andrea Lucas herself in May 2024, and based on publicly available information such as Nike’s own annual “Impact Reports” and information on its public website.

The EEOC’s request that a judge enforce the subpoena is the latest instance of the Trump administration using a federal agency that is typically charged with preventing and responding to discrimination against nonwhite Americans, and deploying it instead to protect what it says are the underrepresented interests of white people.

Nike has objected in court to many of the EEOC’s demands to documents over the last several months, arguing that they are vague, overly broad, and seek information dating back to well before the period in question.

“This feels like a surprising and unusual escalation,” a Nike spokesperson said. “We have had extensive, good-faith participation in an EEOC inquiry into our personnel practices, programs, and decisions and have had ongoing efforts to provide information and engage constructively with the agency.”

The spokesperson added that Nike has shared “thousands of pages of information and detailed written responses” in connection with the agency’s inquiry and said the company is in the “process of providing additional information.” Nike will respond to the agency’s petition, the spokesperson said.

Lucas was appointed chair of the EEOC by President Donald Trump in November 2025 after serving as a commissioner since 2020, when the president nominated Lucas to the agency.

The agency said it filed the subpoena enforcement action after “first attempting to obtain voluntary compliance with its investigative requests.”

This post appeared first on NBC NEWS

A pro-life group is releasing a new report claiming abortions have continued to rise nationwide since 2020 because of a Biden administration FDA policy that allows abortion pills to be prescribed via telehealth and shipped by mail — a move the group says the Trump administration could reverse.

In a report obtained by Fox News Digital, the Restoration of America Foundation (ROAF) argues that a COVID-era FDA policy under former President Joe Biden is driving an estimated more than 500 mail-order chemical abortions per day, citing data from Guttmacher and WeCount.

The data also shows that chemical abortions now account for the majority of abortions, making up about 63% in 2023, a jump from 39% in 2017.

The report also estimates that there were roughly 170,000 additional abortions in 2024 than would have happened if the abortion rate had remained at 2019 levels.

‘Since hitting a low in 2017, the national abortion rate has seen a persistent and troubling climb,’ the report states. ‘In 2019, the last full year that abortion by mail was clearly illegal, there were an estimated 916,460 abortions. Using our estimate for 2024, the overall growth in abortion from 2019 to 2024 was 22 percent. Over the same window, the U.S. population grew by just 2.9 percent. Had the abortion rate remained steady from 2019, there would have been 171,103 fewer abortions in 2024.’

The findings show abortion-by-mail made up roughly one in four abortions in the U.S. in the first half of 2025.

WeCount data cited in the report also shows an estimated 244,590 do-it-yourself abortions were facilitated by telehealth in 2024, including more than 120,000 pills sent into states where abortion was restricted or banned after the Supreme Court overturned Roe V. Wade in 2022, giving the power to make abortion laws back to the states.

The Biden administration policy removed safety standards that required women to see a doctor to be prescribed mifepristone, allowing it to be prescribed through telehealth and sent by mail. The report argues that the FDA under Biden justified the change using limited studies and adverse-event data, despite most mandatory reporting requirements for mifepristone complications being removed in 2016 under the Obama administration. A research paper in 2021 additionally compared adverse-event data with Planned Parenthood data and concluded that the system is ‘inadequate’ to evaluate the safety of mifepristone abortions.

‘People are calling up and saying whatever they need to say to get the drug in the mail,’ ROAF CEO Doug Truax said in an interview with Fox News Digital. ‘The point that we’re making is that abortions are on the rise dramatically. 874,000 in 2023, up to 1.1 million in 2024. Then on this trajectory, by the time President Trump leaves office, it’d be about 1.4 million a year. And so it’s largely driven by the drugs going out in the mail.’

‘There’s about 150 women a day that are being seriously harmed by this drug,’ Truax continued. ‘So we need to get them to go see the doctor. The doctor needs to verify where they’re at with the pregnancy. Obviously, if it’s an ectopic pregnancy, it means they could take this drug, and they could die from it, which has happened. But there are all kinds of sepsis and rupturing and hemorrhaging and everything going on with this drug.’

‘So there are two angles to this. We’re very pro-life over here. We want to go to zero abortions in the country. But the other angle is that this is a women’s health issue. So we need to decrease the number of abortions, and we need to basically save women from being harmed by this,’ he added.

Truax also noted that states with higher populations are receiving the most abortion pills through the mail and that Democrat-led states have enacted shield laws preventing GOP-led states from taking legal action against providers.

‘For instance, Texas, they don’t have abortion anymore, but they sure do,’ he said. ‘People think it’s down to zero. It’s not at all. It’s about where it was. So you have all these abortionists in, to name a few, Massachusetts and California. There’s dispensing organizations now around the country and around the globe that will mail these things out. They’re very active getting these abortion drugs into states that said, ‘we don’t want abortion here.”

The FDA continues to keep the in-person dispensing requirement for mifepristone suspended — a safety rule that had been in place for roughly 20 years before Biden’s FDA permanently removed it following a COVID-era suspension.

The policy was met with legal challenges under the previous administration, but the Supreme Court allowed it to remain in effect after ruling that the plaintiffs lacked standing. The Fifth Circuit Court of Appeals had ruled the FDA’s action under Biden was likely ‘arbitrary and capricious’ under the Administrative Procedure Act.

Truax said that the Trump administration has the authority to nix the policy, and urged the federal government to do so.

‘I think that from a political standpoint, they’d rather not talk about it. But our point is, from a political standpoint, it’s going to start hurting. Pro-life Americans are really grateful to the president for the Supreme Court that we have, they got Roe thrown out, as it should have been a long time ago. But there’s more work to be done. We’re grateful for defunding Planned Parenthood. That’s great for a year. But the bottom line is, if the number of abortions is actually going up and there’s a step you could take to stop it, we got to do that,’ he said.

‘There’s a massive number of pro-life Americans that are base supporters of the president who may say, ‘wait a minute, we’ve been in power for this entire time and the number of abortions keeps going up, and we could have stopped it,” he added.

Republican lawmakers on Capitol Hill and state officials have been calling on the Trump administration to take action.

Last summer, more than 20 attorneys general urged Health and Human Services Secretary Robert F. Kennedy Jr. and FDA Commissioner Marty Makary to complete a safety review of mifepristone and consider reinstating safeguards or removing the drug from the market. Kennedy and Makary vowed to conduct a new review of the safety of the drug, but they have not released a timeline for the results.

‘President Trump, Secretary Kennedy, and Commissioner Makary already have the tools at their disposal to reverse the legally and scientifically dubious decisions of the Biden Administration’s FDA and to reinstate the in-person dispensing requirement. The Trump Administration must act swiftly to restore commonsense medical safeguards to the chemical abortion pill,’ the ROAF report says.

This post appeared first on FOX NEWS

Survey also validates significant mineralization and unlocks new targets

Highlights

  • Direct correlation with mineralization : The modeled geophysical plates explain the presence of semi-massive to massive sulfides intersected in holes TOM-25-009 to TOM-25-015.
  • Priority target BER-14C : Identification of a major 160 x 300 m plate, open at depth and to the northeast , suggesting the presence of a significant massive sulfide lens near drill hole TOM-25-014.
  • Confirmation of Berrigan Deep : The TOM-25-015 drill hole perfectly intersects the southeast extension of the BER-14C plate, validating the continuity of the mineralized system at a depth of over 450 metres .

TomaGold Corporation (TSXV: LOT,OTC:TOGOF; OTCPK: TOGOF) (‘ TomaGold ‘ or the ‘ Company ‘) is pleased to announce the interpretation results of the borehole electromagnetic (BHEM) survey completed on its Berrigan Mine project, located in the Chibougamau mining camp.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260205830419/en/

Figure 1: TomaGold

Figure 1: TomaGold’s borehole EM survey confirms Berrigan Deep Zone

The survey, conducted by Abitibi Geophysics, modeled ten conductive plates of varying orientation and size that not only corroborate the high-grade intersections already announced, but also indicate significant extension potential, particularly with the discovery of the Berrigan Deep zone.

David Grondin, President and CEO of TomaGold, stated: ‘The geophysics confirm what our drill cores indicated: Berrigan Mine sits on a large-scale mineralized system. The BER-14C plate, in particular, extends the mineralization signature of holes TOM-25-014 and TOM-25-015 with a vector pointing to an even more conductive zone to the northeast.’

Technical analysis of the plates

The survey uses Terrascope PRO5U transmitters (up to 15 kW) powered by a Wildcat generator to transmit a bipolar signal in a 530 x 560 m surface loop with a current of 30 A. The borehole measurements are taken at frequencies of 5 Hz and 1 Hz using a GPS-synchronized DigiAtlantis triaxial probe, which captures the components of the magnetic field. Finally, the data is processed and modeled using specialized Maxwell and Oasis Montaj software, with the conductive plates shown in green in Figure 1.

Table 1: Comparative analyses Drilling/BHEM

Sector / Drill hole

Intersection (base interval)

Geophysical plate

Conductance (S)

Plate dimensions (m)

Berrigan Deep (TOM-25-015)

1.98% Zn, 0.82 Au g/t and 3.21 Ag g/t over 98.50 m

BER-14C

5000

160×300

West Extension (TOM-25-014)

4.55% Zn, 4.94 Au g/t and 56.44 Ag g/t over 2.10 m

TOM-25-014_B

5000

85×90

Main Zone (TOM-25-009)

1.40% Zn, 1.12 Au g/t and 7.55 Ag g/t over 48.05 m

TOM-25-009_C

4000

40×40

North Zone (TOM-25-012/13)

Results pending

TOM-25-12+13_A

1900

70×220

Source: Rapport technique d’Abitibi Géophysique (25QC084-BT TomaGold, Berrigan, BHEM, 2026)

Note: TomaGold has reverted to reporting elemental assay results rather than metal equivalent grades. The mineralization style encountered at Berrigan Mine differs from typical sulphide deposits in the surrounding area, including Scott Lake, Lemoine and Mattagami, as well as outside the immediate region such as Normétal, Rouyn-Noranda and Timmins. As a result, metallurgical recovery assumptions remain uncertain at this stage and cannot currently support the use of metal equivalent calculations.

Next Steps

TomaGold plans to:

  1. Drill three new holes (TOM-26-016 to TOM-26-018) to test the northeast and depth extensions of the BER-14C conductive plate.
  2. Conduct additional follow-up drilling to extend holes TOM-25-010, 011, and 013 with the goal of reaching modeled targets, and drill a corner hole from hole TOM-25-015.
  3. Conduct a low-frequency surface electromagnetic (EM) survey to better define the thickness, continuity, and lateral extent of the mineralized system.

About the Berrigan Mine Project
The Berrigan Mine property consists of 16 claims totalling 483 hectares located 4 km north-northwest of the town of Chibougamau. TomaGold has an option to acquire 100% of the property from Chibougamau Independent Mines Inc.

The property has been the subject of more than one historical estimate. Met-Chem Canada Inc. prepared the most recent of these in April 2001 in a report titled: ‘Pre-feasibility study: Etude Conceptuelle, Projects Berrigan and Tortigny’ by Chuinard et al. In the report, a resource estimate completed using polygonal estimation techniques stated 1.39 Mt grading 3.17% Zn and 1.77 g/t Au on the main Berrigan Mine zone. No resource classifications were given for the resource (GM61359).

The mineral resource estimate presented above is historical in nature and was not prepared in accordance with National Instrument 43-101 standards. Accordingly, the reader is cautioned not to rely on this estimate, as the Company is not treating the estimate as a current mineral resource. The qualified person has not done sufficient work to make the resource current. Substantial data compilation, verification, and, potentially, additional drilling and resampling would be required by a qualified person before the historical estimate could be classified as a current mineral resource. There can be no assurance that any portion of the historical mineral resource will ultimately be confirmed or demonstrated to be economically viable. For further information regarding the Berrigan Mine Project, please consult the press release dated September 13, 2023 .

Technical Disclosure
The drilling program was managed by Explo-Logik of Val-d’Or, Québec. Drill core was split in half, with one half submitted to AGAT Laboratories at Val-d’Or for analysis. Gold was analyzed by fire assay (50 g) with atomic absorption finish, while base metals were analyzed by four-acid digestion with ICP-OES finish. Samples with gold grades greater than 10 g/t are reprocessed using metallic screening with a 106 µm cutoff. The processed material is split and analyzed by fire assay with ICP-OES finish to extinction. A separate split is prepared to independently analyze mineralized intervals with a target grade greater than 1.00% Cu-Zn using a Na₂O₂ fusion with ICP-OES or ICP-MS finish. Sample preparation duplicates, certified reference standards, and blanks are inserted into the sample stream.

The technical content of this press release has been reviewed and approved by Jean Lafleur, P.Geo., Vice President of Exploration of the Company, and Suzie Tremblay, P.Geo., Vice President of Operations at Explo-Logik Inc. and a consultant to TomaGold, each acting as a Qualified Person under National Instrument 43-101.

About TomaGold
TomaGold Corp. (TSXV: LOT,OTC:TOGOF, OTCPK: TOGOF) is a Canadian junior mining company focused on the acquisition, exploration, and development of high-potential precious and base metal projects, with a primary focus on gold and copper in Québec and Ontario. The Company’s core assets are located in the Chibougamau Mining Camp in northern Québec, where it owns the Obalski gold-copper-silver project and holds options to acquire 12 additional properties, including the Berrigan Mine, Radar, David, and Dufault projects. TomaGold also holds a 24.5% joint venture interest in the Baird gold property near the Red Lake Mining Camp in Ontario. In addition, the Company has lithium and rare earth element (REE) projects in the James Bay region, strategically positioned near significant recent discoveries.

Follow TomaGold:

WhatsApp: https://www.whatsapp.com/channel/0029Vb79qG6LdQeiiErI1e27
LinkedIn: https://www.linkedin.com/company/tomagold-corporation
Facebook: https://www.facebook.com/TomaGoldCorporation
Instagram: https://www.instagram.com/tomagoldcorp
X: https://x.com/tomagoldcorp

Cautionary Statement on Forward-Looking Information
This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the potential results of exploration and drilling activities, market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions, or other factors should change.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20260205830419/en/

David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com

News Provided by Business Wire via QuoteMedia

This post appeared first on investingnews.com

Mr. Thordarson brings two decades of expertise in operations, infrastructure development, and large-scale business transformation in the aviation industry

Syntholene Energy Corp. (TSXV: ESAF,OTC:SYNTF) (OTCQB: SYNTF) (FSE: 3DD0) (‘Syntholene’ or the ‘Company’) announces the nomination of Jens Thordarson, former Chief Operating Officer of Icelandair, to its Advisory Board. With nearly two decades of leadership experience in the aviation industry, Mr. Thordarson brings expertise in operations, infrastructure development, and large-scale business transformation, critical elements as Syntholene advances its synthetic fuel solutions for global transportation and logistics.

Mr. Thordarson held multiple executive roles at Icelandair over his 17-year tenure, including Chief Operating Officer and Vice President of Technical Operations. In these roles, he spearheaded large-scale operational improvements, optimized fleet management, and integrated advanced technologies to enhance efficiency and sustainability in one of the world’s most demanding industries. Currently, he serves as CEO of GeoSalmo, a company focused on sustainable aquaculture, further reinforcing his commitment to innovative and environmentally responsible industries. Mr. Thordarson also serves as the Honorary Consul of Ireland in Iceland, encouraging tourism, trade, and foreign affairs between the two nations.

‘Jens’ leadership in aviation and operations, combined with his strategic network in the nation of Iceland, makes him an ideal contributor to Syntholene’s Advisory Board,’ said Dan Sutton, Chief Executive Officer of Syntholene Energy Corp. ‘As we work to bring sustainable synthetic fuels to Icelandic and European markets, his insights into politics, regulatory landscape, and infrastructure readiness will be instrumental in driving our commercialization strategy.’

Syntholene Energy Corp. is at the forefront of developing sustainable synthetic fuels designed to seamlessly integrate with existing energy infrastructure while significantly reducing carbon emissions. The nomination of Mr. Thordarson reinforces the Company’s commitment to drawing expertise from industries where fuel efficiency, innovation, and operational scale are paramount.

‘I am excited to join Syntholene’s Advisory Board and contribute my experience in aviation, operations, and strategic growth,’ said Mr. Thordarson. ‘The transition to sustainable fuels is essential for industries like aviation, and Syntholene’s technology represents a major step forward, taking a fundamentally different and more disciplined approach to the challenge. I look forward to working with the team as they move toward scale.’

About Syntholene

Syntholene is actively commercializing its novel Hybrid Thermal Production System for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, manufactured at 70% lower cost than the nearest competing technology today. The company’s mission is to deliver the world’s first truly high-performance, low-cost, and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time.

Syntholene’s power-to-liquid strategy harnesses thermal energy to power proprietary integrations of hydrogen production and fuel synthesis. Syntholene has secured 20MW of dedicated energy to support the Company’s upcoming demonstration facility and commercial scale-up.

Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering, and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral eFuels across global markets.

For further information, please contact:
Dan Sutton, CEO
comms@syntholene.com
www.syntholene.com

Investor Relations
KIN Communications Inc.
604-684-6730
ESAF@kincommunications.com

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘aims’, ‘continue’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘believe’, ‘plans’, ‘intends’ and similar expressions are intended to identify forward-looking information or statements. All statements, other than statements of historical fact, including but not limited to statements regarding the completion of the definitive agreement, successful implementation of the test facility, commercial scalability, technical and economic viability, anticipated geothermal power availability, anticipated benefit of eFuel, and future commercial opportunities, are forward-looking statements.

The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including without limitation the assumption that the Company will be able to execute its business plan, that the eFuel will have its expected benefits, that there will be market adoption, and that the Company will be able to access financing as needed to fund its business plan. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, without limitation, Syntholene’s ability to meet production targets, realize projected economic benefits, overcome technical challenges, secure financing, maintain regulatory compliance, manage geopolitical risks, and successfully negotiate definitive terms. Syntholene does not undertake any obligation to update or revise these forward-looking statements, except as required by applicable securities laws.

Readers are advised to exercise caution and not to place undue reliance on these forward-looking statements.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282796

News Provided by TMX Newsfile via QuoteMedia

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Valeura Energy (TSX:VLE,OTCQX:VLERF) is an oil and gas company focused on the development and operation of shallow-water offshore assets in the Gulf of Thailand. The company, listed on the Toronto Stock Exchange and headquartered in Singapore, is strategically positioned within the Asia-Pacific region. Valeura operates four producing oil fields—Nong Yao, Jasmine, Wassana, and Manora—and has established itself as a low-cost, dependable operator in a mature basin supported by extensive existing infrastructure.

Valeura focuses on maximizing free cash flow from existing production while extending asset life through ongoing drilling, upgrades, and near-field exploration. This is supported by a disciplined acquisition strategy, positioning the Company as a potential regional consolidator, backed by an experienced management team with a strong track record in operations, transactions, and safety.

Valeura Energy

Valeura’s primary focus is its operated portfolio of shallow-water offshore oil fields in the Gulf of Thailand, which form the foundation of its cash flow, reserves growth and near-term value creation. The company currently operates four producing fields – Nong Yao, Jasmine, Wassana and Manora – all located in a mature basin with extensive infrastructure and a long history of reserve replacement through continued development.

Company Highlights

  • Second-largest oil producer in Thailand, operating four shallow-water offshore fields in the Gulf of Thailand
  • Strong financial position, with US$306 million in cash and no debt as of December 31, 2025
  • Growing reserves and extended field lives, with 57.6 mmbbl of 2P reserves and a multi-year history of approximately 200 percent reserves replacement per year
  • Highly cash-generative business, generating US$158 million in free cash flow over the last twelve months to September 30, 2025
  • Growth-oriented strategy, combining disciplined organic investment with accretive M&A opportunities in the Asia-Pacific region

This Valeura Energy profile is part of a paid investor education campaign.*

Click here to connect with Valeura Energy (TSX:VLE) to receive an Investor Presentation

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Here’s a quick recap of the crypto landscape for Wednesday (February 4) as of 9:00 p.m. UTC.

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

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$73,420.53, down by 3.9 percent over 24 hours.

Bitcoin price performance, February 4, 2026.

Bitcoin price performance, February 4, 2026.

Chart via TradingView.

Expectations of tighter monetary policy and unresolved regulatory tensions are also weighing on investors.

Meanwhile, XS.com’s Samer Hasn is observing positive sentiment marked by long-term investors and new Bitcoin addresses accumulating at current low prices, despite speculative money leaving. He views the downtrend as a buying opportunity while the broader market anticipates crucial economic data and earnings from Alphabet (NASDAQ:GOOGL).

Ether (ETH) was priced at US$2,164.80, down by 5.7 percent over the last 24 hours.

Altcoin price update

  • XRP (XRP) was priced at US$1.54, down by 4.7 over 24 hours.
  • Solana (SOL) was trading at US$93.04, down by 7.7 percent over 24 hours.

Today’s crypto news to know

Bitcoin-led selloff wipes nearly US$500 billion from crypto market

A sharp crypto selloff has erased nearly half a trillion dollars in market value in less than a week, with Bitcoin leading the decline, according to a Bloomberg report.

The total market cap for crypto has fallen by about US$467.6 billion since January 29.

Meanwhile, Bitcoin slid to its lowest level since US President Donald Trump’s re-election in early November 2024, briefly touching US$72,877 in US trading before clawing back to around US$75,900.

The pullback comes despite a more crypto-friendly White House and growing institutional adoption, reflecting how fragile sentiment remains after months of heavy leverage.

More than US$700 million in bullish and bearish bets were liquidated in the past 24 hours alone, taking total liquidations since January 29 to over US$6.6 billion, according to CoinGlass data.

Burry warns Bitcoin slide could trigger cascading financial stress

In a Substack post published on Monday (February 2), Michael Burry speculated that Bitcoin’s recent sharp decline could be something beyond a normal bear market, framing it as a uniquely dangerous setup that could trigger cascading financial turmoil across leveraged portfolios, as well as the entire crypto market and metals.

As Bitcoin is deeply embedded into leveraged structures, further price drops could force more selling. He outlined several ‘sickening scenarios,’ including 15 to 20 percent hits for large institutional holders like Strategy (NASDAQ:MSTR), a company he predicts could see major losses if Bitcoin were to fall to US$60,000.

If the cryptocurrency were to dip toward US$50,000, Burry said miners could dump reserves to avoid bankruptcy, dragging minerals and tokenized metal futures into a collapse. Burry sees Bitcoin as a purely speculative asset that has failed to act as a reliable debasement hedge like gold, so its drawdown exposes broader balance sheet fragility driven not just by price moves, but also by over‑levered positions, aggressive artificial intelligence and cloud CAPEX accounting and weak capital discipline that will only become apparent when liquidity tightens.

Strategy’s Bitcoin bet goes underwater

Michael Saylor doubled down on his Bitcoin conviction this week even as Strategy’s vast holdings slipped below their average purchase price. Bitcoin’s drop under roughly US$76,000 has pushed the firm’s estimated cost basis into negative territory, leaving it about US$630 million underwater on paper, according to market estimates cited by critics.

The company has accumulated more than 712,000 BTC since 2020 using a mix of share issuance and convertible debt, a strategy that paid off during the bull market, but now faces renewed scrutiny.

Bitcoin critics, including Peter Schiff, argue that Strategy’s aggressive buying helped fuel the earlier rally and that slowing purchases are now exacerbating the decline. Saylor has rejected that view, posting on X that volatility is “Satoshi’s gift to the faithful” and reiterating his rule to “Buy Bitcoin.”

TRM Labs hits US$1 billion valuation

Blockchain intelligence firm TRM Labs has reached a US$1 billion valuation after closing a US$70 million Series C funding round that was led by Blockchain Capital and included backing from Goldman Sachs (NYSE:GS), Bessemer Venture Partners, Brevan Howard, Thoma Bravo and Citi Ventures.

Co-founder Esteban Castaño said the company was built around the belief that widespread crypto adoption would inevitably require sophisticated risk and compliance tools.

TRM gained traction with law enforcement agencies and financial institutions by tracking activity across multiple blockchains, an early strategic choice that helped it compete with more established rivals.

Bessent reasserts government Bitcoin stance

During testimony before the House Financial Services Committee during a mandatory oversight hearing on the annual report of the Financial Stability Oversight Council, US Secretary of the Treasury Scott Bessent reasserted his stance that Bitcoin is an asset of the US government, not a liability, and that the Strategic Bitcoin Reserve built from forfeited coins is a legitimate balance sheet asset that the treasury is treating as part of the nation’s financial toolkit.

Bessent noted that roughly US$500 million in seized Bitcoin retained by the government has appreciated to over US$15 billion while in custody, underscoring Bitcoin’s role as a high‑growth strategic asset on the federal balance sheet.

He reiterated that the US is not planning to buy more Bitcoin on the open market, but will continue to accumulate it in budget‑neutral ways to build the reserve, such as through forfeitures and seizures.

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

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

This post appeared first on investingnews.com

Gold has seen wild swings over the last week, hitting record highs near US$5,600 per ounce before plunging nearly 10 percent to around US$4,700 in the sharpest drop in over a decade. The real story, though, isn’t just the price action, but how tokenized gold is modernizing one of the world’s oldest reserve assets for a new era.

Leading this charge is Gold Token SA (GTSA), the gold tokenization arm of Swiss precious metals giant MKS PAMP.

Under the leadership of CEO Kurt Hemecker, GTSA is transforming how institutions and individual investors interact with the world’s oldest reserve asset by placing it on modern rails.

As digital assets like Bitcoin struggle to maintain their safe-haven narrative amid high-profile fraud cases, institutions are seeking trusted assets on modern rails, where blockchain’s functional advantages — such as 24/7 liquidity and instant settlement — can upgrade low-volatility reserve assets via tokenization.

The infrastructure bridge: Legal title and institutional trust

MKS PAMP is a family-owned global powerhouse that operates one of the world’s most renowned refineries.

By launching the DGLD token on the Base network, Coinbase’s Layer 2 blockchain, in mid-December 2025, GTSA effectively bridged the gap between 60 years of Swiss precious metals heritage and US-centric blockchain technology.

Unlike speculative crypto tokens, “DGLD is designed to represent allocated physical gold rather than a claim on an issuer,” prioritizing the institutionalization of real-world assets through transparent governance, Hemecker said.

”That design approach is important in jurisdictions like the US, where regulators are still clarifying the boundaries between securities and other digital assets,” he added. Physical gold’s familiarity reduces ambiguity, giving institutions clear legal title to specific vaulted bars, not issuer promises or derivatives.

According to Hemecker, this structure earns policymaker support as “controlled tokenization, where digital representations of existing assets are well-governed and clearly backed, rather than creating new, untested monetary substitutes.” Investors gain direct property rights over high-security Swiss vaults, outpacing tech-first rivals.

Transparency serves as a competitive advantage in this new era of digital commodities. Gold investors, who are traditionally obsessed with provenance, can utilize GTSA’s Bar Mapper tool. This technology allows a digital holder to trace their token back to specific gold bars certified by the London Bullion Market Association

Users can view non-sensitive metadata, including the refiner, weight, purity and serial number of the bars, providing a level of auditability that was previously impossible in the gold market. This creates a transparent link between digital ownership and physical existence, ensuring that every token is backed by real, verifiable gold.

Overcoming hurdles

The operational hurdles once plaguing tokenization are rapidly fading. “Several early frictions are already easing,” Hemecker said. “Operational and technical uncertainty is declining as standards around custody, issuance and lifecycle management mature. Institutional access is improving, and credibility gaps are narrowing.

This maturity drives a shift from experimental pilots to institutional balance-sheet allocations.

“What we’re seeing from institutions and central banks is not a move away from traditional safe-haven assets, but a desire to modernize the infrastructure around them,” he explained. Blockchain’s 24/7 availability, near-instant settlement and efficient reporting keep gold exposure while accelerating infrastructure.

“Tokenized gold allows institutions to maintain exposure to a familiar reserve asset, while benefiting from faster settlement … This is about putting trusted assets on modern rails.”

Liquidity follows suit. “Liquidity will increasingly be judged by depth and reliability, not headline volumes,” Hemecker noted. “Custody quality will move to the foreground, with institutions favoring allocated, insured gold held with reputable vaulting partners.” DGLD delivers this via Base and Aerodrome DEX’s nonstop trading.

Finally, redemption seals the trust: “Redemption down to 1 gram expands accessibility and utility for collateral, lending, repos and beyond. Redemption builds trust, but tokenization is where the real utility comes from.”

The regulatory landscape

The regulatory landscape continues to play a pivotal role in the adoption of tokenized gold.

While GTSA is a Swiss-regulated entity supervised by FINMA-level standards, its presence on the Base network demonstrates a strategic navigation of global demand.

“Regulatory trends are likely to support tokenized gold adoption by rewarding transparent, well-governed structures that fit within existing financial and commodity frameworks,” Hemecker said. “Products with clear custody, governance and legal ownership are simply easier for institutions to assess and approve.”

The GENIUS Act, passed in the US in 2025, clarifies stablecoin rules, prioritizing 1:1 reserves and audits, which favor insured custody like MKS PAMP’s. The proposed CLARITY Act would split Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) purview, classifying some assets as “digital commodities.”

This past January, the SEC and CFTC held a joint harmonization event to align on digital asset oversight, while the CLARITY Act awaits Senate action after House passage in 2025.

Looking ahead

Looking ahead, Hemecker believes the trend favors “consolidation rather than proliferation.’

Tokenization can improve traceability and data continuity, aiding secondary markets like recycled gold. It connects the value chain from mine to vault to wallet, but needs “standards, audits, operational integration and regulatory alignment” for real transparency, according to Hemecker.

For mining and finance, DGLD modernizes the Swiss gold standard.

“Our focus … is building the foundations … so (it’s) ready to scale responsibly,’ said Hemecker.

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

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Venezuelan official Alex Saab, a former businessman and close ally of captured former Venezuelan President Nicolás Maduro, was arrested in the Latin American country on Wednesday as part of a joint operation between the U.S. and Venezuela, according to a U.S. law enforcement official.

Saab, 54, who had previously been held in the U.S., is expected to be extradited to the U.S. in the coming days, the U.S. official told Reuters.

A lawyer for Saab, Luigi Giuliano, was cited in the Colombian newspaper El Espectador later on Wednesday, denying the arrest as ‘fake news.’ Journalists aligned with Venezuela’s government also made social media posts denying that Saab had been arrested.

Giuliano told Venezuelan news site TalCual that Saab may make an appearance to refute the arrest allegations himself but was consulting with the government about what had happened.

Venezuela’s top lawmaker, Jorge Rodríguez, did not confirm or deny the reports during a press conference, saying he had no information concerning the possible arrest.

This comes after the U.S. operation to attack Venezuela and arrest Maduro, and the Trump administration’s subsequent seizing of oil tankers from the country.

Saab’s arrest would suggest a new level of collaboration between U.S. and Venezuelan authorities under the government of interim President Delcy Rodríguez, Maduro’s former deputy, who currently controls Venezuela’s law enforcement agencies and actions.

The U.S. official highlighted the significance of Rodriguez’s cooperation in the joint operation.

Raul Gorrin, the head of Venezuela’s Globovision TV network, was also arrested in the operation, the official said.

Saab, who was born in Colombia, was previously detained in the African nation of Cape Verde in 2020 and held in the U.S. for more than three years on bribery charges. He was eventually granted clemency in exchange for the release of Americans held in Venezuela.

Before he was granted clemency, U.S. officials had charged Saab with taking around $350 million out of Venezuela through the U.S. as part of a bribery scheme connected to Venezuela’s state-controlled exchange rate.

Saab denied the allegations and appealed to have the charges dismissed on grounds of diplomatic immunity. An appeals court had not ruled on Saab’s appeal by the time the prisoner swap went through.

When he returned to Venezuela at the end of 2023, Maduro praised Saab’s loyalty to the country’s socialist revolution and called him a national hero.

Maduro later appointed Saab as industry minister, a position he held until last month, when he was dismissed by Rodriguez following the arrest of the country’s former leader.

Reuters contributed to this report.

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Nicki Minaj, who has recently been a vocal critic of California Gov. Gavin Newsom, accused him in a new interview of trying to be like President Donald Trump, referring to recent social media posts of the governor’s that emulate the president’s frank style.

‘With Newscum, it’s the fact that with everything you said, but then having the audacity to be playing on Twitter, obsessed with Trump, trying to be Trump, trying to be funny when it’s not and then wanting to roll around in the mud with female rappers or whomever and completely missing the plot,’ Minaj told Katie Miller on her podcast this week.

Many of Minaj’s online attacks have been over the governor’s support of transgender children.

‘Imagine being the guy running on wanting to see trans kids,’ Minaj wrote on social media late last year. ‘Not even a trans ADULT would run on that. Normal adults wake up & think they want to see HEALTHY, SAFE, HAPPY kids. Not Gav. The Gav Nots. GavOUT. Send in the next guy, I’m bored.’

She suggested to Miller that Newsom would be better off not trying to compete with Trump.

‘But President Trump is already the president, get it?’ she said as if speaking directly to Newsom. ‘He’s already done it twice. He’s won. Good. OK. Meanwhile, you are embarking on what — a journey that will end up being a big huge failure for him.’

The ‘Tukoh Taka’ singer said the governor still doesn’t ‘seem to grasp the fact that these jokes that you’re making are only funny to your assistant, you know, the weirdo little guy that calls Black women stupid h— and stuff.’

Newsom’s assistant responded to one of Minaj’s slams on social media last year by posting a picture of a Nicki Minaj T-shirt in the trash. He captioned the image: ‘Stupid H–,’ a reference to her 2012 song of the same name.

She claimed that ‘no one cares’ about Newsom’s rhetoric online, ‘and he’s making a fool out of himself like when he went all the way to another country to speak ill of the country and the president. We would never want someone like that to be our president. Americans are so big on loyalty and that just showed us all you do not have a loyal bone in your body and no one is going to vote for you.’

Newsom spoke at the World Economic Forum in Davos, Switzerland, last month, expressing his concerns that ‘freedom of expression, freedom of assembly, freedom of speech’ are all under attack because of the Trump administration.

‘They’re censoring historical facts, they’re rewriting history,’ he added, also claiming that the administration had canceled an earlier event the governor was supposed to speak at.

Minaj said Newsom failed to respond to her when she asked for his office’s help ‘on Twitter about swatting calls that were happening that were clearly a part of their extended smear campaign. And he completely ignored it, right? And next thing you know, he’s on there flapping his gums about female rap stuff and trying to get in women’s business. So I had to. I had to show him who’s boss on Twitter.’

Newsom has only responded to her tirade of social media attacks once.

In December, he posted a mashup of videos and images of Trump, including with Jeffrey Epstein, set to Meghan Thee Stallion’s Minaj diss track ‘HISS.’

Fox News Digital has reached out to Newsom’s office for comment.

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