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Islamabad, Pakistan (Reuters) — Nobel Peace Prize winner Malala Yousafzai urged Muslim leaders on Sunday to back efforts to make gender apartheid a crime under international law, and called on them to speak out against Afghanistan’s Taliban over its treatment of women and girls.

At a summit on girls’ education in Muslim communities attended by international leaders and scholars in her home country of Pakistan, Yousafzai said Muslim voices must lead the way against the policies of the Taliban, who have barred teenage girls from school and women from universities.

“In Afghanistan an entire generation of girls will be robbed of its future,” she said in a speech in Islamabad. “As Muslim leaders, now is the time to raise your voice, use your power.”

The Taliban say they respect women’s rights in accordance with their interpretation of Afghan culture and Islamic law. Taliban administration spokespeople did not immediately respond to a request for comment on Yousafzai’s statements.

No foreign government has formally recognized the Taliban since it took over Afghanistan in 2021 and diplomats have said steps towards recognition require a change of course on women’s rights.

Yousafzai survived being shot in the head when she was 15 in Pakistan by a gunman after campaigning against the Pakistani Taliban’s moves to deny girls an education.

The summit, organised by the Organization of Islamic Cooperation (OIC) and the Muslim World League, included dozens of ministers and scholars from Muslim-majority countries.

Yousafzai asked the scholars to “openly challenge and denounce the Taliban’s oppressive laws” and for political leaders to support the addition of gender apartheid to crimes against humanity under international criminal law.

The summit was hosted by Pakistan, which has had frosty relations with the Afghan Taliban in recent months over accusations that militants are using Afghan soil to launch attacks on Pakistan, a charge the Taliban deny.

This post appeared first on cnn.com

(AP) — An emergency task force arrived in Russia’s southern Krasnodar region on Sunday as an oil spill in the Kerch Strait from two storm-stricken tankers continues to spread a month after it was first detected, officials said.

The task force, which includes Emergency Situations Minister Alexander Kurenkov, was set up after Russian President Vladimir Putin on Friday called on authorities to ramp up the response to the spill, calling it “one of the most serious environmental challenges we have faced in recent years.”

Kurenkov said that “the most difficult situation” had developed near the port of Taman in the Krasnodar region, where fuel oil continues to leak into the sea from the damaged part of the Volgoneft-239 tanker.

Kurenkov was quoted as saying by Russian state news agency RIA Novosti that the remaining oil will be pumped out of the tanker’s stern.

The Emergencies Ministry said Saturday that over 155,000 tons of contaminated sand and soil had been collected since oil spilled out of two tankers during a storm four weeks ago in the Kerch Strait, which separates the Russia-occupied Crimean Peninsula from the Krasnodar region.

Russian-installed officials in Ukraine’s partially Russian-occupied Zaporizhzhia region said Saturday that the mazut — a heavy, low-quality oil product — had reached the Berdyansk Spit, some 145 kilometers (90 miles) north of the Kerch Strait. It contaminated an area 14.5 kilometers (9 miles) long, Moscow-installed Gov. Yevgeny Balitsky wrote on Telegram.

Russian-appointed officials in Moscow-occupied Crimea announced a regional emergency last weekend after oil was detected on the shores of Sevastopol, the peninsula’s largest city, about 250 kilometers (155 miles) from the Kerch Strait.

In response to Putin’s call for action, Ukraine’s Foreign Ministry spokesman Heorhii Tykhyi accused Russia of “beginning to demonstrate its alleged ‘concern’ only after the scale of the disaster became too obvious to conceal its terrible consequences.”

“Russia’s practice of first ignoring the problem, then admitting its inability to solve it, and ultimately leaving the entire Black Sea region alone with the consequences is yet another proof of its international irresponsibility,” Tykhyi said Friday.

The Kerch Strait is an important global shipping route, providing passage from the inland Sea of Azov to the Black Sea. It has also been a key point of conflict between Russia and Ukraine after Moscow annexed the peninsula in 2014.

In 2016, Ukraine took Moscow to the Permanent Court of Arbitration, where it accused Russia of trying to seize control of the area illegally. In 2021, Russia closed the strait for several months.

Mykhailo Podolyak, an adviser to the head of Ukrainian President Volodymyr Zelensky’s office, described the oil spill last month as a “large-scale environmental disaster” and called for additional sanctions on Russian tankers.

This post appeared first on cnn.com

With just a week before Donald Trump re-enters the White House, Ukraine is bracing for some tough choices in the coming months. Its troops are on the backfoot against Russia along several parts of the long frontline, it is short of experienced soldiers and doubtful that military aid will continue to arrive at anything like the current rate.

In Kyiv, the government waits and watches the signals from Moscow and Washington and reiterates almost daily its desire for a “just peace.” Any thought of recovering the territory seized by Russia is on indefinite hold.

Despite taking heavy losses, Russian forces continue to push forward remorselessly in Donetsk region, one of four that Moscow has illegally annexed and is seeking to fully occupy. Their daily gains are measured in fields and streets as they creep towards the industrial belt of the region.

According to open source analysts WarMapper, Russia is occupying just over 18% of Ukraine – including Crimea and the areas of Donetsk and Luhansk that it had taken before 2022. Russian forces had taken some 150 square miles (400 square kilometers) in December.

Ukrainian units are vastly outnumbered in the east. One commander said this week that small groups of Russian infantry were conducting assaults from multiple directions at once, making it difficult for Ukrainian forces to concentrate fire.

“While the correlation of forces with respect to tactical fires, drones, and long-range strike appears to not be favoring either side to a significant extent, manpower remains the key differentiator between Russia and Ukraine,” says Mick Ryan, who writes the blog Futura Doctrina.

Russian units are now 3 miles (5 kilometers) from the hub of Pokrovsk and have taken control of Kurakhove and part of the town of Toretsk, according to geolocated video.

The commander of one Ukrainian battalion near Pokrovsk said Russian forces there had intensified shelling and glide-bomb strikes.

Military spokesman Viktor Tregubov told Ukrainian television that fighting continued around Kurakhove and troops were holding out at the power plant, “so we cannot say that Russian troops have taken the town completely. But, of course, most of the town has been reduced to rubble.”

The Russian “model of simple attrition is unchanged. The enemy inevitably wears down before the Russian steamroller wears down,” as analysts Keith D. Dickson and Yurij Holowinsky put it.

The goal for Kyiv is to defend what it still holds. Ukrainian Defense Minister Rustem Umerov said at a meeting with allies – the Ukraine Defense Contact Group – in Germany last week that Ukraine’s priorities this year would be stabilizing the front line and strengthening its defense capabilities.

Contact Group members have committed more than $126 billion in security assistance to Ukraine over the past three years. Partners pledged further aid in Germany this week, including 30,000 drones over the next year and more air defense systems.

US Defense Secretary Lloyd Austin said Friday that the coalition “must continue to stand foursquare with Ukraine — and to strengthen Ukraine’s hand for the negotiations that will someday bring Putin’s monstrous war to a close.”

It’s the “someday” that is the burning question. Austin said of the incoming Trump administration: “I won’t speculate on which direction they would go in.”

German Defense Minister Boris Pistorius even suggested the incoming US administration might discontinue the Contact Group meetings, saying that if so “it will need to continue in another form.”

Negotiations on ending the conflict seem unlikely at present.

“The reason is simple. Moscow is not ready for any compromises. It plays for victory, not a draw,” says Arkady Moshes, writing in 19FortyFive.

“Success can be achieved on the battlefield or at the negotiating table, but it must be unquestionable. In Putin’s view, Ukraine needs to be defeated, and the West has to admit Ukraine’s – and its own – defeat publicly,” Moshes adds.

Potential peace talks

Trump’s Ukraine envoy, former US general Keith Kellogg, said last week that he hoped to be able to come up with a solid and sustainable solution to the conflict within 100 days. Trump himself had said on the campaign trail that he would get the fighting stopped within 24 hours of taking office, but when asked more recently how soon he could end the conflict said: “I hope to have six months. No, I would think, I hope long before six months.”

How the Kremlin’s unchanged goals square with the incoming Trump administration’s plans is unclear.

Ryan, the Futura Doctrina blogger, believes Putin “is likely to ensure that no matter what, the 100-day objective fails. He has no compelling reason to come to the table right now, thinking he has the momentum in this war.”

Ukrainian President Volodymyr Zelensky has given little indication of the parameters that would be acceptable to Ukraine. He said Friday: “We will undoubtedly stand firm and achieve a lasting peace for our people and our country.”

His priority is to make Ukraine’s case to Trump directly. Foreign Ministry spokesman Heorhii Tykhyi on the same day said Ukraine was preparing for talks at “the highest levels.”

“Our stance is clear: everyone in Ukraine wants to end the war on terms that are fair to Ukraine.”

At the heart of any settlement for Kyiv would be short-term guarantees that a ceasefire could be monitored and longer-term guarantees for Ukraine that would deter Putin from using a ceasefire to re-group and renew hostilities.

That must include “significant investment in airpower, ballistic missile defense, a fully equipped, NATO standard heavy division,” say Dickson and Holowinsky. Meanwhile, they add: “Zelensky must take a strategic long view understanding that the lost territories in reality represent a gangrenous limb that must be cut off to save the healthy body.”

At an absolute minimum Moscow will demand that Ukraine cedes the territory it has lost and abandon its drive to join NATO, which Trump believes was a provocation to Russia.

Instead, Kyiv would have to negotiate other guarantees, as Zelensky said in an interview on Italian television this past week, that would “prevent Russia from returning with aggression.”

But the Kremlin is likely to demand much more.

Kyiv is “expected to accept extensive limitations on the size of its armed forces and on the kinds of weapons systems it is allowed to possess. These proposals are not a recipe for a sustainable settlement,” according to the Atlantic Council’s Serhii Kuzan.

Moscow has shown no sign of abandoning its maximalist demand for the totality of all four regions it claims to have annexed. “This would mean handing over large amounts of unoccupied Ukrainian territory including the city of Zaporizhzhia with a population of around three quarters of a million people,” notes Kuzan.

For now, both the White House and many commentators see no desire by either side to begin talks. “There is no expectation now that either side is ready for negotiations,” US National Security spokesman John Kirby said in recent days.

While both the Kremlin and Trump have expressed readiness for a summit, premature efforts to advance negotiations on the Ukraine conflict could backfire, according to Russian commentator Giorgy Bovt.

“If the meeting is held prematurely, when the conditions for peace are not yet ripe, it will do more harm than good. It could lead to an even greater escalation. At the same time, both warring sides are still betting on the continuation of hostilities, not considering their forces exhausted,” he wrote on Telegram.

This post appeared first on cnn.com

Alberta Premier Danielle Smith and President-elect Trump met on Saturday and discussed the ‘mutual importance’ of a U.S.-Canadian energy relationship and the hundreds of thousands of American jobs supported through Albertan exports.

‘Over the last 24 hours I had the opportunity to meet President [Trump] at Mar-a-Lago last night and at his golf club this morning,’ Smith wrote in a post on X. ‘We had a friendly and constructive conversation during which I emphasized the mutual importance of the U.S. – Canadian energy relationship, and specifically, how hundreds of thousands of American jobs are supported by energy exports from Alberta.’

She continued, saying she had similar discussions with ‘several key allies’ of Trump’s incoming administration in which she became encouraged to hear about their support for ‘a strong energy and security relationship with Canada.’

‘On behalf of Albertans, I will continue to engage in constructive dialogue and diplomacy with the incoming administration and elected federal and state officials from both parties, and will do all I can to further Alberta’s and Canada’s interests,’ Smith said. ‘The United States and Canada are both proud and independent nations with one of the most important security alliances on earth and the largest economic partnership in history. We need to preserve our independence while we grow this critical partnership for the benefit of Canadians and Americans for generations to come.’

Smith posted about the meeting on X, nearly a week after Canadian Prime Minister Justin Trudeau announced his resignation amid growing pressure from within his own Liberal Party and heightened criticisms over his handling of the economy and threats levied by Trump.

However, as Trudeau announced on Monday his plan to resign as prime minister once the Liberal Party that he leads chooses his successor, the biggest pushback to Trump’s pitch to annex Canada – and his planned 25% tariffs on exports from the country – has come from the premier of Canada’s most populous province, Ontario.

Doug Ford, a former businessman and conservative who has served as Ontario’s 26th premier since 2018, told Fox News Digital in an interview that the president-elect’s targeting Canada is both ‘crazy’ and ‘ridiculous.’

He said the bilateral focus should be on ‘strengthening’ what the Canadian government calls a nearly trillion-dollar two-way trade relationship to ‘make the U.S. and Canada the richest and most prosperous jurisdiction in the world.’

The president-elect has been trolling Canada in recent weeks, floating the idea of it becoming the 51st state and posting a doctored photo of him standing beside a Canadian flag on top of a mountain.

Trump has also been pushing for Denmark to sell the North Atlantic island of Greenland to the U.S.

Fox News’ Christopher Guly contributed to this report.

This post appeared first on FOX NEWS

Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSX- V:SWA) is pleased to advise that it has executed a non-binding Heads of Agreement (the “HoA”) with Orbminco Limited (“Orbminco”) (ASX: OB1), an arm’s length third party, to acquire a majority(1) and controlling interest(1) in the under- explored, belt-scale 420km² Mt Venn Project (the “Project”)(2), located in the Eastern Goldfields of Western Australia.

This follows Sarama’s recent acquisition of a majority interest in the 580km² Cosmo Project, approximately 45km to the west of the Mt Venn Project. Both projects are well-positioned and underexplored, presenting an exciting opportunity for Sarama in the Laverton Gold District which is known for its prolific gold endowment (refer Figure 1).

Highlights

  • Non-binding Heads of Agreement executed for acquisition of 80% interest in belt-scale Mt Venn Project
  • Located in the prolific Laverton Gold District, 35km from the producing Gruyere Gold Mine and less than 20km from Gold Road’s Golden Highway Deposit
  • Project covers 420km² and features a favourable litho-structural setting, primarily in greenstone rocks
  • Includes regional shear zone of ~50km strike length and 1-3km width extending full length of greenstone belt
  • Advanced gold targets generated through historical exploration, including broad drill-defined gold mineralisation
  • Highly complementary to Sarama’s recently acquired, underexplored and prospective Cosmo Project
  • Creates 1,000km² exploration position in the Laverton Gold District, capturing 100km of strike length
  • Land access agreement with Traditional Owners in place for exploration
  • 100% scrip consideration with initial exploration funded by the November 2024 equity raise of A$2M

Sarama’s President, Executive Chairman, Andrew Dinning commented:

“We are very pleased to have reached agreement to acquire the Mt Venn Project and when completed, this acquisition will significantly consolidate our position in the prolific Laverton Gold District of Western Australia. The addition of this project creates a major 1,000km2 area-play which significantly enhances the probability of making the next big discovery in a region that continues to deliver new deposits in previously unexplored areas, including the regionally- significant Gruyere Deposit just 35km east of the Mt Venn Project. We look forward to working towards completing the transaction and will provide updates in due course.”

Mt Venn Project

The Project is comprised of 3 contiguous exploration tenements covering approximately 420km² in the Eastern Goldfields of Western Australia, approximately 110km north-east of Laverton and 35km west of the regionally- significant Gruyere Gold Mine(3). The Project is readily accessible via the Great Central Road which services the regional area east of Laverton.

The Project captures the majority of the underexplored Jutson Rocks Greenstone Belt over a strike length of ~50km. Rocks within the belt feature a diverse sequence of volcanic lithologies of varying composition, together with pyroclastics and metasediments. Several internal intrusive units have been identified throughout the Project and are commonly associated with local structural features. A regionally extensive shear zone, spanning 1-3km in width, extends the entire length of the belt with subordinate splays interpreted in the southern area of the Project which provides a favourable structural setting for mineralisation.

Gold mineralisation was first discovered in the 1920’s with sampling returning very high grades and prompting the commencement of small-scale mining operations in the mid 1920’s. Multiple gold occurrences have since been identified throughout the Project, demonstrating the prospectivity of the system. Despite the identification of several km-scale gold-in-soil anomalies by soil geochemistry and auger drilling, many of these targets are yet to be properly tested. Encouragingly, drilling by Cazaly Resources Limited (“Cazaly”) (ASX: CAZ) at the Project intersected broad, gold mineralisation over several fences in weathered and fresh rock at the Three Bears Prospect, presenting a priority target for exploration (Cazaly news release 27 February 2017: “Widespread Gold & Zinc Mineralisation Defined”).

In addition to the attractiveness of the Project for gold, it is considered prospective for base metals and platinum group elements. Historical exploration work including auger geochemistry and geophysical surveys identified several targets for copper, nickel and zinc mineralisation. Several of these targets remain untested due to historical funding and land access constraints. Exploration in the belt to the immediate south of the Project area is noted to have intersected copper mineralisation of significant grade over a significant strike length(4).

In summary, the Project is located within a prolific gold district and has a favourable lithological and structural setting. A solid database of base-level historical exploration work by previous operators, including generation of drill-ready targets, provides a good platform for Sarama to advance the Project in conjunction with its activities at the Cosmo Project. The size and prospectivity of the landholding that Sarama will have in the Laverton Gold District upon completion of this transaction significantly enhances the chances of making an economic discovery, particularly given the infrastructure and proliferation of mines in the region which will have a favourable impact on the size threshold for finding something of economic value.

Click here for the full ASX Release

This post appeared first on investingnews.com

An Austrian woman has been kidnapped by gunmen in Niger’s Agadez city, local residents and the Austrian foreign ministry said on Sunday, the first time a European citizen is known to have been kidnapped in the conflict-hit West African nation since a military junta took power in 2023.

The ministry said Austria’s embassy in Algeria, which is also responsible for Niger, had been informed of the kidnap of an Austrian woman in Agadez and was in contact with regional authorities on the ground.

Residents and local media identified the victim as Eva Gretzmacher and reported she is an aid worker who has lived in Agadez – hundreds of kilometers (miles) away from the capital city of Niamey – for more than 20 years.

“(She) is well known for her social commitment (and) created a skills center in 2010 that initiated various projects, notably in the fields of education, women’s empowerment, ecology, culture and art,” the local Air Info Agadez reported.

Gretzmacher also supported education programs through her development work and provided assistance to local non-government organizations in various sectors, local media said.

No group claimed responsibility for her abduction and authorities in Niger did not immediately comment on the incident.

Niger has for many years battled a jihadi insurgency linked to al-Qaida and the Islamic State group, a security crisis that analysts say has worsened since the military toppled the country’s government in July 2023.

Despite their promise to restore peace in hot spots, the junta’s capacity to improve Niger’s security has increasingly been questioned amid increasing attacks.

Niger was seen as one of the last democratic countries in Africa’s Sahel region that Western nations could partner with to beat back the jihadi insurgency in the vast expanse below the Sahara Desert.

The country has severed decades-long military ties with the West and turned to Russia as a new security partner.

This post appeared first on cnn.com

Global markets were turbulent this week on speculation about US President-elect Donald Trump’s trade policies.

Initial gains on Monday (January 6), driven by rumors of less aggressive tariffs, were followed by a mixed performance as the Consumer Electronics Show (CES) kicked off in Las Vegas, Nevada, and investors awaited key economic data.

1. AI takes center stage at CES

Unsurprisingly, CES underscored the growing influence of artificial intelligence (AI) across the tech landscape, with AI chips for PCs, new electric vehicles and the imminent influence of robotics on the workforce taking center stage.

AI was prominent, featured in everything from appliances to pets. Following substantial investment, companies are under pressure to demonstrate the value and justify the cost of AI integration in their products.

As mentioned, tech stocks rose on Monday as the event began, with chipmakers like NVIDIA (NASDAQ:NVDA), Broadcom (NASDAQ:AVGO), Micron Technology (NASDAQ:MU), Advanced Micro Devices (AMD) (NASDAQ:AMD) and Taiwan Semiconductor Manufacturing Company (NYSE:TSM) leading the surge.

NVIDIA, whose CEO Jensen Huang gave the keynote address at CES, was a key focus.

Following the company’s weaker-than-expected revenue outlook in November, investment interest in AI has been dispersing to include companies such as Broadcom and Marvell (NASDAQ:MRVL), whose share prices increased in the fourth quarter of 2024 while NVIDIA’s remained relatively flat.

Broadcom, NVIDIA and Marvell Technologies performance, Q4 2024.

Broadcom, NVIDIA and Marvell Technologies performance, Q4 2024.

Chart via Google Finance.

After a product reveal, NVIDIA saw its share price fall 8.5 percent to US$140.01 on Tuesday (January 7), its largest intraday drop since October 15. Chief among the AI bellwether’s long list of new products are the new GeForce RTX 50 series GPUs, built on the Blackwell architecture. The flagship RTX 5090 for demanding workloads will be available this month for US$1,999, while the RTX 5070, a more budget-friendly version, will arrive in February for US$549.

NVIDIA also unveiled Project Digits, a desktop PC designed to empower AI researchers, data scientists and students with the ability to run very large AI models on their laptops. Developed in collaboration with Taiwan’s MediaTek (TPE:2454), the model is equipped with a Grace Blackwell Superchip and runs a version of the Linux operating system. Project Digits essentially puts an AI-powered personal supercomputer within reach for US$3,000 starting in May.

NVIDIA performance, January 6 to 10, 2025.

NVIDIA performance, January 6 to 10, 2025.

Chart via Google Finance.

NVIDIA’s move highlights a broader trend at CES this year: the rise of AI PCs. AMD, Intel (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM) all introduced chips designed to bring AI to everyday computing. AMD’s high-powered Ryzen CPUs, which will power Dell’s (NYSE:DELL) corporate PCs, reportedly outperform Macs and offer a longer battery life.

Meanwhile, Qualcomm is broadening its business beyond mobile phone chips with the Snapdragon X Platform, an affordable chip for laptops and PCs that will run Microsoft’s (NASDAQ:MSFT) Copilot+ software. The company will also soon release a small desktop computer built with the chip. PC makers including Dell — which announced a rebranding of its PC line — will reportedly offer laptops based on the new product in early 2025.

AMD, Qualcomm and Dell saw share price increases of between 2 and 3.5 percent between Monday and Tuesday. However, Intel’s new processors featuring built-in AI acceleration and a dedicated neural processing unit in select models weren’t enough to impress investors, and its share price was little changed over the same period.

2. Autonomous vehicles have their moment

While AI PCs generated excitement at CES, another trend emerged: the rise of generative physical AI.

During his keynote, Huang emphasized how the forthcoming shift will revolutionize factory and warehouse automation, a rising subsector he described as ‘a multi-trillion dollar opportunity.’

This sentiment is seemingly shared by OpenAI founder Sam Altman, who wrote in a weekend blog post of a near future where “AI agents join the workforce and materially change the output of companies.’

To accelerate this transition, Huang unveiled NVIDIA Cosmos, an open-source platform designed to simulate real-world environments and accelerate the training of physical AI models like robots and cars. Within Cosmos, AI agents can be trained using Nemotron, a new family of large language models optimized for agentic AI. Based on Meta’s (NASDAQ:META) Llama models, Nemotron leverages NVIDIA’s CUDA and AI acceleration technologies.

“Cosmos will dramatically accelerate the time to train intelligent robots and advanced self-driving cars,” Rev Lebaredian, vice president of omniverse and simulation technology at NVIDIA, said at a press conference on Monday.

Later, news broke of a partnership between NVIDIA and Toyota (NYSE:TM) that will see the carmaker use NVIDIA’s autonomous driving chips and software to advance its self-driving cars. NVIDIA also announced a partnership with Uber (NYSE:UBER) to use its drive logs for AI model training.

“After so many years, with Waymo and Tesla’s (NASDAQ:TSLA) success, it’s very clear (autonomous vehicles) have finally arrived,” said Huang on Monday. Later, during an interview with Yahoo Finance’s Dan Howley, he disclosed that NVIDIA’s technology for autonomous driving is projected to generate US$5 billion in annual sales.

3. Crypto market struggles to find footing

The Bitcoin price rose above US$102,000 early on Monday, following a weekend in which the cryptocurrency regained its 50 day simple moving average, an indicator often described as crucial for a continued bull market.

Adding to the momentum was strong speculation that MicroStrategy (NASDAQ:MSTR) was preparing to increase its holdings further after CEO Michael Saylor hinted at a potential acquisition over the weekend. The company ultimately purchased 1,070 Bitcoins for a total price of US$101 million.

Adding to bullish sentiment was a research report from JPMorgan (NYSE:JPM); it indicates that Bitcoin miners’ revenue increased for the second consecutive month in December. The positivity extended to altcoins as Solana’s DEX trading volume exceeded that of Ethereum and Base; the price action prompted analysts to set a US$15 target for XRP.

However, as conflicting US jobs and inflation data rolled in, traders’ hopes of an interest rate cut by March diminished. Yields for 10 year treasuries touched 4.73 percent, resulting in a broad selloff affecting cryptocurrencies and other risk-on assets like tech stocks. The top cryptocurrencies dropped between 4 and 9 percent in early trading on Tuesday.

Bitcoin performance, January 6 to 10, 2025.

Bitcoin performance, January 6 to 10, 2025.

Chart via CoinGecko.

US Bitcoin exchange-traded funds (ETFs) saw near-record outflows of US$582 million on Wednesday (January 8), as the downward trajectory continued. Ether ETFs also saw substantial outflows totaling US$159.3 million on Wednesday, their largest on record since July. By Thursday (January 9), US$655 million in Bitcoin futures contracts had been liquidated.

Adding to the uncertainty, the US Department of Justice has reportedly been cleared to sell US$6.5 billion worth of Bitcoin seized from Silk Road, which could put downward pressure on Bitcoin’s price.

Altcoins saw greater losses, with XRP being the sole exception.

Ripple’s native cryptocurrency saw periods of recovery on Wednesday after it was reported that CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty met with Trump for dinner. Analysts at Cointelegraph project XRP could surge 40 percent if prices can break out of the current “descending triangle” pattern.

Friday’s (January 10) US jobs data release coincided with a 2.24 percent drop in Bitcoin’s price to below US$92,000 before the markets opened, followed by a rise to US$95,000 midday. Bitcoin’s latest downtrend has led market analysts to believe that the coin’s price may retest areas around US$90,000 as traders contend with uncertainty regarding tariffs and their effects on the US economy, stoking concerns about the possibility of renewed inflation.

According to Santiment analyst Brianq, Bitcoin’s performance can also be partly attributed to decreased purchasing activity by wallets holding between 100 and 1,000 Bitcoin, which drove Bitcoin’s most recent bull cycle.

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

This post appeared first on investingnews.com

President-elect Donald Trump is giving Republicans his blessing to negotiate on a key tax that could prove critical to the GOP’s negotiations for a massive conservative policy overhaul next year.

Trump met with several different groups of House Republicans at Mar-a-Lago over the weekend, including blue state GOP lawmakers who make up the House SALT Caucus – a group opposed to the current $10,000 cap on state and local tax (SALT) deductions that primarily affect urban and suburban residents in areas with high income and property taxes, such as New York, New Jersey, and California.

‘I think it was productive and successful,’ Rep. Nicole Malliotakis, R-N.Y., said of the meeting. ‘The president supports our efforts to increase the SALT deduction. He understands that mayors and governors in blue states are crushing taxpayers and wants to provide relief from the federal level.’

But Trump also signaled he was aware of the opposition from others in the House GOP conference, particularly rural district Republicans, who have viewed SALT deductions as tax breaks for the wealthy. Before the cap was imposed in 2017, there was no limit to how much state income and local property taxes people could deduct from their income when filing their federal returns.

‘He gave us a little homework to work on, a number that could provide our middle class constituents with relief from the high taxes imposed by our governor and mayor, and at the same time, you know, something that can build consensus and get to [a 218-vote majority],’ Malliotakis said.

 ‘I think we pretty much know that it’s not going to be a complete lifting of the SALT cap. There’s not an appetite within Congress or even among American taxpayers to lower taxes for the ultra-wealthy.

‘Our efforts are really targeted to middle-class families, and that’s what we’re focused on in trying to achieve the right balance.’

The current SALT deduction cap has been opposed by New York and California lawmakers for much of its existence, since being levied in Trump’s Tax Cuts and Jobs Act (TCJA).

Trump suggested he would change course during his second administration as early as September last year, when he posted on Truth Social that he would ‘get SALT back, lower your taxes, and so much more.’

The discussions are part of Republicans’ wider talks about passing a massive fiscal and conservative policy overhaul via a process known as ‘reconciliation.’

By lowering the Senate’s threshold for passage to a simple majority instead of two-thirds, the process allows the party in control of both houses of Congress and the White House to pass certain legislation provided it deals with budgetary and other fiscal matters.

Some pro-SALT deduction Republicans, like Rep. Mike Lawler, R-N.Y., had signaled they could withhold support from the final bill if the cap was not increased.

‘The only red line I have is that if there is a tax bill that does not lift the cap on SALT, I would not support that,’ Lawler told Fox News’ Sunday Morning Futures.

Lawler also said Trump agreed that SALT deduction caps needed to be raised.

House Republicans have virtually no room for error with a razor-thin majority from Trump’s inauguration until likely sometime in April.

Meanwhile, Trump also told New York Republicans that he would help them fight their state’s controversial congestion pricing rule that levies an added cost to drive in parts of Manhattan.

‘He understands how unfair this is and how it would impact the city’s economy and the people we represent and so we’re currently working with him on legal options to reverse the rubber stamp of the Biden administration,’ Malliotakis said. ‘If there’s a legal option, if there’s a legal option for him to halt congestion pricing, he will.’

‘You have, you know, cops, police, firefighters, nurses, the restaurant workers that have to go in at odd hours, and they drive because they don’t feel that the transit system is clean or safe.’

Congestion pricing took effect in New York City earlier this month.

Fox News Digital reached out to the Trump transition team for comment on this weekend’s meeting.

This post appeared first on FOX NEWS