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The Tennis Channel is extending its deal with the Women’s Tennis Association that will see the cable TV network and streaming service continue to broadcast more than 2,000 matches each season.

While terms of the deal weren’t disclosed, Tennis Channel CEO Jeff Blackburn told CNBC in an interview there was a “pretty big step up in our payments” to the WTA for the U.S. media rights, which includes international tournaments and the WTA Finals event. The new agreement lasts through 2032.

“Our goal and mission is to just cover pro tennis and the game of tennis like no one else, every day, every hour, all year round. There’s no offseason,” Blackburn said. “WTA plays a huge role in that and it was a big priority for me to make sure that we renewed our relationship and extend it as long term as we were able.”

The exclusive rights renewal comes as the Tennis Channel is in the midst of a transition on several fronts.

Last year, longtime Tennis Channel CEO Ken Solomon was ousted from the company. Blackburn stepped into the role in early May, following a 24-year career at Amazon, where he helped to build out Prime Video and expand the streaming service into sports, among other businesses.

Meanwhile, Sinclair, the owner of broadcast stations as well as the Tennis Channel, had recently considered offloading the network, CNBC previously reported. The parent company, however, is no longer exploring a sale of the Tennis Channel, particularly since Blackburn has taken the helm, according to a person familiar with the matter who spoke on the condition of anonymity to discuss nonpublic details.

In the backdrop, the Tennis Channel, like its network peers, is contending with the continued loss of customers from the pay-TV bundle. While live sports garner the biggest audiences — and leagues have reaped huge rights payouts as a result — media companies are focused on growing the profitability of their streaming businesses.

In 2014 the 24/7 tennis network took its first step into streaming with Tennis Channel Plus, and later in 2022 introduced Tennis Channel 2, a free, ad-supported streaming channel. While Blackburn said Tennis Channel 2 has been successful and attracted a younger audience, he is focused on beefing up the Tennis Channel’s recently launched direct-to-consumer streaming app.

The app, which launched in November 2024, costs $9.99 a month or $109.99 annually and offers the same programming as the pay-TV network. Media companies are increasingly offering the same live sports featured on pay-TV networks on their counterpart streaming alternatives — most notably with the launch of Disney’s flagship ESPN app later this year.

“What’s important about the partnership is that they’re committing to doing more with us,” said Marina Storti, CEO of WTA Ventures, the commercial arm of the WTA. “They’re committed to that increased exposure across all of their platforms. They’re committed to ensuring this kind of equal exposure for women and men, where they have the rights. And they’re making a significant commitment. There is a substantial increase in the rights fees, which is a big milestone for us as part of our plan and commitment to growing.”

The Tennis Channel’s agreement with the WTA covers a large swath of the WTA’s tournaments outside of North America through the season-closing WTA Finals.

The audience for WTA events on the Tennis Channel has been growing, particularly among the younger demographic. Viewership among 18- to 34-year-olds on the Tennis Channel has grown annually for each of the past two years, according to a news release.

The deal comes as American female tennis players have shot to the top of global rankings and women’s sports in general have seen a rise in popularity and investment funding.

Already in 2025, two American women have won two of the top majors: Madison Keys took the Australian Open in January, and Coco Gauff was crowned the winner of the French Open in June. Gauff and Keys will be among the participants at Wimbledon, which kicks off on Monday.

“Tennis is really the only major sport where the men’s and women’s game is on equal footing, and that’s really important,” said Blackburn. “I think for tennis it makes it unique. The growth of women’s sports overall? Maybe basketball and soccer will get there, but I think tennis is way ahead in terms of providing that for the fan.”

The Tennis Channel 2 free streaming option has earmarked every Tuesday as “Women’s Day” — showing only women’s match coverage — and Blackburn highlighted the network’s roster of heavy-hitting female talent, including former players and Hall of Famers Martina Navratilova and Lindsay Davenport, among others.

The deal extension also builds on WTA Ventures’ recent efforts to grow its commercial revenue and build the profiles of its athletes.

In 2023 the WTA formed a strategic partnership with private equity firm CVC Capital Partners, which invested $150 million for a 20% stake in the newly created WTA Ventures. The entity was formed to focus on growing commercial revenue through sponsorships and media rights deals, with the goal of tripling its revenue by 2029.

In 2024 WTA Ventures said it expected to increase revenue by 24% in its first full year.

The media rights extension marks the first renegotiation with the Tennis Channel under the WTA Ventures framework. The WTA’s long-standing media rights deal with streaming service DAZN expires at the end of next year, and talks have begun for new deals that would begin in 2027, said Storti.

WTA Ventures said its global audience surpassed 1 billion viewers on broadcast and streaming last season, and Storti said the U.S. is among one of the WTA’s biggest growth markets, along with China and Poland.

“We are a completely mass-market product that attracts hundreds of millions of fans across the world, and I would say we deliver a product that stands kind of shoulder to shoulder with the men counterpart,” Storti said.

The WTA has also recently emphasized improvements for players.

This year it’s has announced a paid maternity leave funded by the Saudi Public Investment Fund, as well as a new policy allowing players to protect their rankings during fertility treatments

Still, tennis is not without its issues of disparity. While the U.S. Open awarded equal prize money to men and women beginning in 1973, it was decades ahead of Wimbledon and other majors. And while equal prize money is given at the majors level, there’s still a considerable pay gap at lower-level tournaments.

The sport also drew criticism around the 2025 French Open when the majority of prime-time slots went to men’s matches.

This post appeared first on NBC NEWS

A Senate Republican wants to build a paper trail of former President Joe Biden’s autopen usage with the end goal of calling more hearings, passing legislation or amending the Constitution to best address ‘a mentally incapacitated president.’

Sen. Eric Schmitt, chair of the Senate Judiciary Subcommittee on the Constitution, is requesting special access under the Presidential Records Act to a trove of Biden-era documents and memos that chronicle his usage of an autopen.

In a letter to Secretary of State and Acting National Archivist Marco Rubio exclusively obtained by Fox News, Schmitt argued that creating a paper trail of key directives made toward the end of his presidency would help in ‘deciding which legislative remedy is most appropriate.’

‘In particular, the increased use of the autopen to sign pardons, executive orders, and other documents as his Presidency progressed became a poignant symbol of President Biden’s mental decline and has created questions about the validity of those orders and pardons if President Biden did not direct the use of the autopen,’ he wrote.

Schmitt requested access to a slew of documents, including memos about procedures for usage of the autopen, who was granted authority to use the autopen and emails from staff authorizing or requesting authorization for autopen usage.

He also requested access to all White House records after Nov. 1, 2024, that refer or relate to presidential pardons; that prioritize briefing books, memos and decision memos for pardons; and, eventually, access to all White House records after Nov. 1.

‘With that information, the subcommittee will be better positioned to ensure that any potential proposed amendment will be sufficiently comprehensive so as to address any plausible contingency concerning a mentally incapacitated President,’ Schmitt wrote. 

‘It would be challenging enough to amend the Constitution once — much less more than once if it then subsequently turned out not all contingencies around presidential incapacity were adequately considered.’

Schmitt’s letter comes after the Senate Judiciary Committee’s hearing on Biden’s alleged mental decline while in office and how the autopen could have played a central role in his inner circle’s alleged attempt to skirt the Constitution while continuing to carry out the duties of the office.

It also explicitly mentions the closed-door, transcribed hearing with Biden’s former director of the Domestic Policy Council, Neera Tanden, conducted by the House Oversight Committee this week.

A source told Fox News Digital that during the transcribed interview, which lasted five hours, Tanden testified she had ‘minimal interaction with President Biden’ in her role as staff secretary and that to obtain autopen signatures, she would send decision memos to members of Biden’s inner circle.

She said during the interview she was not aware of what actions or approvals happened between the time the memo was sent out and returned with approval.

However, Tanden’s opening statement, shared with Fox News Digital by her lawyer, Michael Bromwich, said that, as staff secretary, she was responsible for ‘handling the flow of documents to and from the President’ and that she was authorized to direct that autopen signatures be ‘affixed to certain categories of documents.’

‘We had a system for authorizing the use of the autopen that I inherited from prior Administrations,’ Tanden said. ‘We employed that system throughout my tenure as Staff Secretary.’

She was later named director of Biden’s Domestic Policy Council and said she was no longer responsible for the flow of documents and was no longer involved in decisions related to the autopen. 

‘I would note that much of the public discussion on the subject matter of this hearing has conflated two very different issues: first, the president’s age and second, whether President Bident was in command as President,’ she said. ‘I had no experience in the White House that would provide any reason to question his command as President. He was in charge.’   

Schmitt requested that access to the swathe of memos and communications be granted no later than July 16.

‘It is important for this subcommittee to have a clear picture of President Biden’s decision-making capacity at the end of his presidency and to know the extent to which members of his inner circle possibly usurped the President’s decision-making authority,’ he wrote.

Fox News Digital’s Liz Elkind contributed to this report. 

This post appeared first on FOX NEWS

Sen. Jeff Merkley, D-Ore., accused Trump Office of Management and Budget (OMB) Director Russell Vought of being responsible for the deaths of hundreds of thousands of children due to the budget cuts he has overseen under the Trump administration.

Vought faced a high-intensity grilling from both Democratic and GOP senators in the Senate Appropriations Committee on Wednesday over a package of proposed budget cuts – called a rescissions package – the administration sent to the legislative branch earlier this month.

Democratic committee members, as well as some Republicans, appeared very frustrated with the administration over the proposed cuts. At one point during the hearing, several protesters stood and began shouting, causing the proceedings to briefly come to a halt. It was unclear what the protesters were objecting to.

While Vought claimed that the administration’s cuts to USAID and PEPFAR have not halted lifesaving treatment, Merkley asserted that the claim is a ‘huge deception.’

According to Merkley, a Boston University School of Public Health study claims that some 246,000 children have died due to the various foreign aid programs cut by DOGE.

‘We are talking a quarter million children because of your irresponsible shutdown of programs that Congress had fully authorized, and you unconstitutionally shut down in partnership with Elon Musk and the Secretary of State,’ fired Merkley. ‘How do you feel about being responsible for hundreds of thousands of children dying because of your sudden interruption in these key programs?’

Vought soundly rejected the assertion, saying that every administration ‘has the ability to do a programmatic review when they come into office’ and to make changes based on ‘new spending priorities.’

Before he could finish, Merkley cut Vought off, saying, ‘I find your response both ignorant and callous.’

‘You chose to shut down programs in the middle that have resulted in hundreds of thousands of children dying in the last few months. I find that abhorrent, and few Americans have ever had such a devastating and disastrously impact,’ Merkley exclaimed.

Sen. Patty Murray, D-Wash., also confronted Vought, accusing the administration of trying to illegally maneuver around Congress to make its cuts, which she said undermine American interests abroad.

‘Will you tell us specifically where, the Philippines, Pacific islands, Jordan, you’re planning to undermine American interests?’ she asked, to which Vought responded: ‘Of course not. We’ve been very clear in all the administration’s priorities that all of our commitments with regard to Jordan and Egypt are maintained.’

Before Vought could finish, Murray cut in again, saying, ‘I assume you’re unwilling to share which humanitarian crisis this administration plans to walk away with, which is what we would be voting on, and that is critical information.’

But it wasn’t just Democrats taking Vought to task during the hearing.

Sen. Lisa Murkowski, R-Alaska, also voiced frustration over the Trump administration’s DOGE cuts, taking particular issue with cuts to public broadcasting, which she said plays an important emergency services role in her state.

Sen. Mitch McConnell, R-Ky., also voiced objections to the cuts to foreign aid, which he said were opportunities to project American soft power.

‘Instead of creating efficiency, you’ve created vacuums for adversaries like China to fill responsible investments in soft power, prevent conflict, preserve American influence, and save countless of lives at the same time,’ said McConnell.

For his part, Vought said that ‘it is critical that this body and the American people writ large, understand that many foreign aid programs use benevolent-sounding titles to hide truly appalling activity that is not in line with American interests.’

Vought said the ‘entire federal government must be responsible with each taxpayer dollar that comes to Washington.’

‘The American people voted for change. President Trump stands ready to put our fiscal house back in order and put the American taxpayer first,’ he said, adding, ‘A vote for rescissions is a vote to show that the United States Senate is serious about getting our fiscal house in order. I hope that the Senate will join us in that fight.’

This post appeared first on FOX NEWS

The White House social media team stepped up its meme game with a new spoof on a viral moment from the NATO Summit in which Secretary General Mark Rutte called President Donald Trump ‘daddy.’

A video set to the Usher hit ‘Daddy’s Home’ showed Trump arriving home aboard Air Force One being cheered on by supporters. It also showed clips from the summit, the president arriving at the Dutch palace, his meetings with world leaders and his handshake with Ukrainian President Volodymyr Zelenskyy.

Like the moment when Rutte made the comment one day earlier, the White House clip set social media ablaze. 

‘Presidential meme game reaching unprecedented levels,’ internet personality Mario Nawfal wrote X. 

‘This is easily the best thing on the internet,’ added political commentator Benny Johnson. 

Others were less enthused. 

‘An official product of the WH communications office —’ ABC News correspondent Jonathan Karl wrote along with the clip. 

‘This is super straight and super alpha male. Uh huh,’ wrote former Rep. Adam Kinzinger, an anti-Trump Republican. 

Trump unloads on Israel and Iran for threatening fragile ceasefire agreement

During a bilateral meeting with Trump in The Hague, Netherlands, Rutte defended Trump’s use of an expletive to criticize Israel and Iran as they threatened the ceasefire he brokered. 

‘Daddy has to sometimes use strong language.’ 

Outside the White House Tuesday morning, a frustrated Trump told reporters Israel and Iran ‘have been fighting so long and so hard that they don’t know what the f— they’re doing.’ 

Rubio breaks into laughter when Trump asked about NATO chief calling him

Secretary of State Marco Rubio cracked up laughing when a reporter asked about the comment during a news conference at the summit Wednesday.

Rutte and Trump have found common cause in pushing NATO allies to increase defense spending. During the summit, the alliance agreed to Trump’s longtime demand that each member state boost defense spending to 5%. 

This post appeared first on FOX NEWS

It must have been the last thing NATO’s chief needed.

Late Tuesday, on the eve of a crucial summit that would lock in a generational investment in NATO’s defense, Donald Trump’s Truth Social account pinged with a single photo: a gushing message signed “Mark Rutte,” written in a carbon-copy Trump style and overflowing with sycophantic praise for the US president.

“You are flying into another big success in the Hague this evening,” Rutte’s message read.

“Europe is going to pay in a BIG way, as they should, and it will be your win,” he continued.

“You will achieve something NO American president in decades could get done.”

While the diplomatic world has bent toward many norms of the Trump White House, this was extreme.

Doubling down on the comments the following day, saying Trump deserved credit for his actions on Iran and NATO, Rutte waded through many observers’ incredulity at his kowtowing tone. But as the summit crescendoed, there was a growing sense he may have pulled off a diplomatic masterstroke.

Bromance

Rutte, the former Dutch prime minister, is no stranger to dealings with Trump, having deployed his easy charm in several visits to Washington, DC, during Trump’s first term.

Exuding an easygoing, relaxed image – his signature boyish grin never far from his face – Rutte’s charm offensive echoes that of other NATO leaders.

French President Emmanuel Macron has charted up a boisterous bromance with Trump; Finnish President Alex Stubb bonded with him over rounds of golf, and Italian far-right Prime Minister Giorgia Meloni has won a reputation as something of Trump whisperer: She’s a “fantastic woman,” in Trump’s words.

Rutte’s message – signed with his surname – perhaps spoke of a less pally relationship. So did one of Trump’s reactions Wednesday: “I think he likes me. If he doesn’t, I’ll let you know. I’ll come back and I’ll hit him hard,” Trump announced in his Wednesday news conference.

But in The Hague, Rutte seemed ready to do anything to burnish the US president’s ego and save him face.

Trump’s decision to attack Iran’s nuclear program was “extremely impressive,” the NATO chief told Trump. “The signal it sends to the rest of the world that this president, when it comes to it, yes, he is a man of peace, but if necessary, he is willing to use strength.”

Time and again around the summit, Rutte’s interjections soothed Trump’s passage – softening his landing after a fiery “f**k” at Iran and Israel’s latest exchange of missiles lit up international headlines.

Rutte’s response: a jokey aside in front of the world’s cameras.

“Daddy has to sometimes use strong language,” he said beside Trump, after the US president used the analogy of two children fighting to describe the conflict between Iran and Israel.

Rutte later said he wasn’t referring to Trump as “daddy” but was merely using a metaphor.

The Dutchman didn’t spare praise for Trump’s strikes on Iran – a conflict technically outside the NATO wheelhouse – as the president railed against suggestions in a leaked government assessment that undercut his claim the strikes “obliterated” parts of Iran’s nuclear program.

“I do think this is a kind of hold-your-nose moment. Ensure there are no fireworks in The Hague. Get a good photo op and go home,” she added.

Beyond Rutte, the whole summit was sculpted around Trump.

Slimmed down, the schedule featured a single session for leaders; experts have suggested this was for Trump, who earlier this month skipped the ending of the G7 summit, missing a meeting with Ukrainian President Volodymyr Zelensky.

Of course, the summit result is largely pre-ordained, after rounds of pre-negotiations to ensure the leaders had to only rubber-stamp declarations.

Ukraine’s war with Russia – by far the most pressing issue on NATO’s agenda – was also excised from the summit’s final declaration, the first time it has been missing since Russian President Vladimir Putin’s full invasion of Ukraine in 2022.

Even the crown jewel of the gathering, the promise to spend 5% of gross domestic product on defense (split into core defense requirements and 1.5% on defense-related spending by 2035), was a Trump-branded product.

Back in January, Trump lofted the idea of a 5% spending target for NATO members, a figure that hadn’t been given serious consideration before, as members limped towards 2%.

“They can all afford it. They’re at 2% but they should be at 5%,” he told journalists.

The ends, not the means

But Rutte may have had the last laugh.

The summit was, by all accounts, a win for NATO: Members unanimously agreed to boost spendings to post-Cold War highs – and thanked Trump for it.

Spain was a notable exception, pushing for softened language that may have left a loophole for the Iberian nation to meet its responsibilities for NATO military capabilities without having to spend 5% of GDP. (The final summit declaration signed by NATO members referred only to “allies” in its clauses on spending, while others spoke of commitments “we” will make.)

Leaders – led, of course, by Rutte – singled out Trump as the sole pressure responsible for finally corralling NATO allies to previously unthinkable spending targets.

Boosted defense spending “is the success of President Donald Trump,” Polish President Andrzej Duda told journalists at the summit.

“Without the leadership of Donald Trump, it would be impossible,” he added.

His Lithuanian counterpart suggested a new motto for the alliance, “Make NATO great again,” as he welcomed the pressure Trump had levied on stingy allies.

Everybody wins

But in public, comment on Rutte’s messaging to Trump was largely off limits, with leaders waving off or swerving around questions.

Finland’s president wouldn’t be drawn on the NATO secretary general’s messages, but he said, however, “Diplomacy has so many different forms.”

Casualties – particularly from diplomatic skirmishes with Trump – were fewer than expected. Only Spain caught flak from the US president over its foot-dragging over the 5% GDP spend.

“It’s terrible what they’ve done,” Trump said, threatening to use trade talks to force Madrid into line. “We’re going to make them pay twice as much,” he said.

Even Zelensky – who has had a turbulent relationship with Trump – came away with wins.

While he stopped short of committing further US aid to Ukraine, Trump suggested Kyiv may see future Patriot missile system deliveries from the United States – and he slammed Putin as “misguided,” conceding the Russian leader may have territorial designs that extend further than Ukraine.

Finally, Trump’s own views on NATO – often a prickly subject for the famously transactional president – saw a reversal.

“These people really love their countries,” Trump said of the NATO leaders at his news conference concluding the NATO summit. “It’s not a rip-off, and we’re here to help them protect their country.”

“I came here because it was something I’m supposed to be doing,” he added, “but I left here a little bit different.”

This post appeared first on cnn.com

(TheNewswire)

Blue Lagoon Resources Inc.

June 26, 2025 TheNewswire – Vancouver, British Columbia Blue Lagoon Resources Inc. (the ‘ Company ‘) (CSE: BLLG; OTCQB: BLAGF; FSE: 7BL) is pleased to announce that it has been added to the CSE25 Index the Canadian Securities Exchange’s benchmark index that tracks the top 25 issuers by market capitalization.

The CSE25 Index is a sub-index of the CSE Composite Index and includes the largest companies by market capitalization on the exchange. Inclusion in the index represents a significant achievement for Blue Lagoon, reflecting its growing market capitalization, strong shareholder support, and providing increased visibility among institutional investors.

‘Being added to the CSE25 is a meaningful indication of the progress that we have made,’ said Rana Vig, President & CEO of Blue Lagoon Resources . ‘With a fully permitted project, funding in place, and gold production expected to begin this summer, our inclusion in the index is a reflection of both market confidence and the strength of our strategic execution.’

This announcement comes on the heels of several recent achievements:

  • The Company received its final mining permit earlier this year, making it one of only nine such permits granted in British Columbia in the last decade.

  • The Company strengthened its relationship with its toll milling partner, Nicola Mining, by executing a $2 million line of credit agreement — reinforcing the strategic partnership while providing non-dilutive financial flexibility. Notably, the facility is unsecured and does not require any collateral against the Dome Mountain project.

  • The Company remains fully funded to first production, backed by long-term institutional and strategic investors including Crescat Capital, Phoenix Gold Fund, and Nicola Mining. This strong financial position is further supported by a recently completed financing of over $4.8 million and more than $3.6 million in-the-money warrants, offering additional non-dilutive capital potential.

‘We are entering a new phase of growth,’ added Vig. ‘As a member of the CSE25, we look forward to reaching a broader audience of investors and continuing to create value as we move toward cash flow.’

About Blue Lagoon Resources Inc.

Blue Lagoon Resources is a Canadian based publicly listed mining company (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) focused on building shareholder value through the aggressive development of its 100% owned Dome Mountain Gold project. The Company is run by professionals with significant finance and mining experience and operates within a prime mining jurisdiction in British Columbia, Canada. With the granting of a full mining permit, a key milestone achieved in February 2025 – one of only nine such permits issued in British Columbia since 2015 – Blue Lagoon is now focused on last preparatory activities and tasks related to the safe and secure opening of the Dome Mountain Gold Mine, targeting Q3 2025 as the start of gold production . The Company’s primary objective has always been to become a cash-flowing mining company, to ultimately deliver tangible monetary value to shareholders, state, and local communities.

The Company is not basing its production decision at Dome Mountain on a feasibility study of mineral reserves demonstrating economic and technical viability. The production decision is based on having existing mining infrastructure, past bulk sampling and processing activity, and the established mineral resource.  The Company understands that there is increased uncertainty, and  consequently a higher risk of failure, when production is undertaken in advance of a feasibility study.

For further information, please contact:

Rana Vig

President and CEO

Telephone: 604-218-4766

Email: ranavig@bluelagoonresources.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (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’, ‘targets’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’, ‘mine’, ‘production’ 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 results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, delays in mine development activities, future cash flow expectations and continued availability of capital and financing, permitting and other approvals, 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, contractors and consultants 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, contractor’s and consultants’ beliefs, estimates or opinions, or other factors, should change.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

Bumble shares rallied more than 26% on Wednesday after the dating app company revealed in a securities filing that it intends to slash 30% of its workforce, or about 240 roles.

The layoffs will result in $13 million to $18 million in charges for the company hitting in the third and fourth quarters of this year. Management estimates that the reductions will help the company save $40 million annually.

A Bumble spokesperson said in a statement to CNBC that the layoffs were “not made lightly.”

“Our focus now is on moving forward in a way that strengthens our core business, continues to serve our members effectively, and positions us for future growth,” they wrote.

Bumble said the cuts are part of a reconfiguration of its “operating structure to optimize execution on its strategic priorities.” The company plans to invest savings into new product and technology development.

Shares of the dating app company have plunged since their debut on the public markets in 2021. Its market value has plummeted from $7.7 billion to about $538 million as of Tuesday’s close.

Founder Whitney Wolfe Herd, who stepped down as CEO at the beginning of 2024, returned to the role earlier this year.

Along with the job cuts, Bumble updated its previously announced forecast for the current quarter.

The company now expects revenue to range between $244 million and $249 million, and adjusted earnings before interest, taxes, depreciation and amortization between $88 million and $93 million.

That’s up from the $235 million to $243 million in revenue and $79 million to $84 million in adjusted EBITDA forecast with Bumble’s first-quarter results last month.

This post appeared first on NBC NEWS

Here’s a quick recap of the crypto landscape for Wednesday (June 25) 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) is priced at US$107,736, an increase of two percent in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$107,027 and a high of US$108,116.

Bitcoin price performance, June 23, 2025.

Bitcoin price performance, June 23, 2025.

Chart via TradingView.

Ethereum (ETH) closed at US$2,432.58, trading flat over the past 24 hours. Its lowest valuation on Wednesday was US$2,403.59, and its highest valuation was US$2,441.16 at the opening bell.

Altcoin price update

  • Solana (SOL) was priced at US$144.38, down 0.6 percent over 24 hours. Its highest valuation on Wednesday was US$147.61, and its lowest was US$143.28.
  • XRP was trading for US$2.20 as markets wrapped, down by 0.3 percent in 24 hours. The cryptocurrency’s highest valuation was US$2.23, and its lowest price on Wednesday was US$2.18.
  • Sui (SUI) is trading at US$2.76, showing an increaseof 0.1 percent over the past 24 hours. Its lowest valuation was US$2.73, and its highest valuation was US$2.84.
  • Cardano (ADA) is priced at US$0.5709, down by 1.9 percent in 24 hours. Its highest valuation on Wednesday was US$0.5838, and its lowest was US$0.5678.

Today’s crypto news to know

Trump Media’s Bitcoin-Ethereum ETF gains NYSE support

The New York Stock Exchange (NYSE) has formally submitted a rule change to the US Securities and Exchange Commission (SEC) to allow the listing of the Truth Social Bitcoin and Ethereum ETF.

The dual-asset exchange-traded fund (ETF), which is backed by Donald Trump’s media company, would be held in a 3:1 BTC to ETH ratio, is to be custodied and executed by Crypto.com. The rule change was filed under the SEC’s 19b-4 process, signaling the NYSE’s commitment to fast-track the listing pending regulatory review.

This development follows Trump Media’s previously announced plan to raise US$2.4 billion for its own bitcoin treasury.

Although that fund remains inactive, the ETF proposal is part of a larger suite of politically branded crypto products in the pipeline. So far, only the Truth Social ETF filings have been formally submitted to the SEC.

Bitcoin hashrate drops amid Iran attacks and heatwave

Bitcoin’s hashrate has dropped 15 percent since June 15, and some in the community point to the attack on Iran as a primary reason, although the exact cause hasn’t been confirmed.

“Hashrate dropped right after Israel’s initial strike on Iran. It’s not talked about often but Iran has been mining for many years now (over 5 years).. its likely that Israel hit part of Iran’s power grid and disrupted some of their mining operation,” an X user known as daniel wrote on Sunday (June 22).

“Can’t say whether disrupting (their) mining was part of their plan or simply a secondary effect of the strike, but I think it’s likely this is what caused the drop in hashrate.”

However, only 3 percent of the hashrate decrease precisely coincided with events related to attacks on Iran.

According to TechCrunch, the Iranian government imposed a near-total internet blackout on as a precaution against potential cyberattacks, which coincided with a 2.2 percent decline in global hashrate from Thursday (June 19).

The US strike on Iran’s nuclear facility then led to power grid outages in the country, coinciding with a one percent decrease in global hash rates from Saturday (June 21) to Sunday (June 22).

The hashrate had already fallen by over 6.25 percent between June 15 and June 19, before the internet blackout and the US bombing. The current heatwave covering the Eastern coast of the US and Canada could be another contributing factor, as elevated temperatures can lower the efficiency of high-performing technology.

Coinbase surpasses all-time high

Coinbase Global (NASDAQ:COIN) surpassed its all-time high on Wednesday, reaching US$369.25, more than three percent above its previous record of US$357.39 recorded on November 9, 2021.

The move marks a strong resurgence from its year-to-date low of US$151.47, recorded in April.

Coinbase’s stock price has grown by 38 percent since the start of the year and 134 percent from its closing price on April 8 following the imposition of additional tariffs on China by the US, an event that triggered broader market anxieties and impacted several tech-related equities.

Norwegian deep-sea miner commits to US$1.2 billion Bitcoin strategy

Green Minerals, a deep-sea mining firm listed in Oslo, has kicked off its US$1.2 billion Bitcoin treasury plan with an initial purchase of four BTC, spending roughly US$420,000. The company said it aims to hedge against fiat currency risk and inflation while building a tech-forward balance sheet. Executive Chair Ståle Rodahl called Bitcoin “non-inflationary” and “decentralized,” framing the strategy as a long-term financial hedge.

The move places Green Minerals among 245+ companies holding over US$88 billion in BTC globally. However, the market did not immediately reward the announcement — shares dropped nearly 20 percent before stabilizing.

To increase transparency, the firm plans to report BTC-per-share data for investors going forward.

Metaplanet raises US$515 million in single-day stock exercise

Japan’s Metaplanet raised ¥74.9 billion (about US$515 million) in one day by exercising stock acquisition rights under its aggressive bitcoin treasury plan. The firm issued 54 million new shares, representing 29 percent of its current outstanding rights, as part of the so-called “555 Million Plan.”

While Metaplanet stock initially plunged 15 percent, it recovered and closed 4 percent higher after the announcement. CEO Simon Gerovich called it a “strategic milestone,” reaffirming the firm’s dedication to bitcoin-backed value creation.

Separately, France-based Blockchain Group also raised US$4.8 million via an equity issuance agreement with TOBAM. The two companies continue to expand their BTC-per-share holdings, with Blockchain Group now holding 1,653 BTC in Europe.

EU set to ignore ECB’s stablecoin warning, push ahead with new rules

The European Commission is preparing to introduce new stablecoin regulations despite repeated warnings from the European Central Bank (ECB). According to the Financial Times, the upcoming guidance would treat foreign-issued stablecoins as functionally equivalent to their EU counterparts.

The ECB has warned that this could disrupt monetary stability by encouraging deposit flight from banks into crypto.

ECB President Christine Lagarde recently urged lawmakers to fast-track the digital euro, arguing it would safeguard financial autonomy from US-dominated stablecoins.

Despite these concerns, Commission sources say the risk of a stablecoin run is minimal, and any redemptions would mostly occur in the US where reserves are held.

The new rules are expected to be unveiled within days.

South Korean banks collaborate on won-backed stablecoin

According to Econovill, a South Korean media outlet that focuses on economic and financial news, eight major South Korean banks are working together to introduce a won-pegged stablecoin

Expected to launch in late 2025 or early 2026, the project is backed by the Open Blockchain nonprofit, the Decentralized Identity Association and the Korea Financial Telecommunications and Clearings Institute and is considered a significant pioneering step for traditional banks entering the digital asset space.

The announcement follows a report published in Yonhap News on Tuesday (June 24), which cited Bank of Korea Deputy Governor Ryoo Sang-dai’s suggestions that regulated banks be the main issuers of stablecoins.

He also advised beginning with won-denominated stablecoins before expanding into other areas. According to the report, this approach aims to create a safety net for the financial system.

Reuters reported that during a press conference in Seoul earlier this month, Governor Sang-dai expressed concerns about a won-pegged stablecoin, despite not opposing it. He noted that such a stablecoin could unintentionally facilitate the exchange of won for USD. Sang-dai added that this trend could negatively impact South Korea’s currency and hinder the central bank’s monetary management strategies.

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.

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Shell (NYSE:SHEL) has moved quickly to shut down speculation about a takeover bid for BP (LSE:BP,NYSE:BP), issuing a formal statement under the UK Takeover Code.

According to the company, no talks have taken place and it has no intention of making an offer.

“In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer,” the company said in a statement released Thursday (June 26) morning.

The clarification came after the Wall Street Journal reported that Shell was in early stage discussions to acquire BP, citing unnamed sources familiar with the matter.

The report characterizes the potential tie up as a “landmark combination” of two supermajor oil companies — one that could rival Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) in scale and reach. It would also represent the largest corporate oil merger since the US$83 billion creation of ExxonMobil at the turn of the century.

Shell’s formal denial triggers Rule 2.8 of the UK City Code on Takeovers and Mergers, barring it from making a bid for BP for the next six months, except under limited circumstances — such as BP inviting an offer, a third-party bid emerging or a material change in circumstances. In doing so, it quells investor anticipation about an energy mega-merger.

“This is a statement to which Rule 2.8 of the Code applies and accordingly Shell confirms it has no intention of making an offer for BP. As a result, Shell will be bound by the restrictions set out in Rule 2.8 of the Code,” the company states.

BP shares react, market speculation continues

The Journal’s report briefly pushed BP shares higher on Wednesday (June 25) before Shell’s denial tempered gains.

As of Thursday, BP’s share price remains one of the most underperforming among major oil companies, still lagging behind competitors after its much-criticized 2020 strategy to shift away from fossil fuels and ramp up its focus on renewables — an approach it has recently walked back.

BP’s market cap currently stands at around US$80 billion. Factoring in a takeover premium, any bid would likely surpass that amount, placing it as potentially the biggest deal of 2025 and the largest in the energy sector in decades.

Shell, which has a market value exceeding US$200 billion, would have to weigh substantial integration and regulatory challenges in any potential transaction. As mentioned, the company would be able to revisit a bid if BP’s board invites it, or if a third-party competitor steps forward, keeping the door technically and legally open.

Fueling the acquisition rumors is mounting pressure from activist hedge fund Elliott Investment Management, which holds over 5 percent of BP’s shares. Elliott has pushed for sharper cost discipline and improved shareholder returns at the company, criticizing what it views as BP’s inconsistent strategy.

In response, BP has taken steps to refocus on core hydrocarbons. It has boosted oil and gas production targets, slashed clean energy investments and begun unloading non-core businesses. The company is in the process of selling its Castrol-branded lubricants division and is exploring divestment from its solar joint venture, Lightsource BP.

BP also announced earlier this month that Chairman Helge Lund — seen as the architect of the company’s now-receding green transition — is set to step down. The leadership shakeup adds to speculation that BP is becoming more receptive to investor demands and, potentially, corporate consolidation.

Whether or not a Shell-BP deal ever materializes, the broader M&A wave sweeping the oil and gas sector shows no signs of slowing. Chevron is in the process of finalizing its US$53 billion acquisition of Hess (NYSE:HES), though that deal faces legal challenges from Exxon Mobil, which holds overlapping interests.

Exxon itself completed a US$60 billion purchase of Pioneer Natural Resources last year. Diamondback Energy’s (NASDAQ:FANG) US$26 billion acquisition of Endeavor Energy Resources in the Permian Basin also reflects the growing appetite for consolidation in an industry facing long-term cost pressures and uncertain regulatory futures.

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

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Senate Republicans pushed back against a leaked report that President Donald Trump’s strikes on Iran did not obliterate the Islamic Republic’s nuclear program, but still wanted more information on the full extent of the damage done to the key facilities.

A widely reported ‘low confidence’ assessment from the Defense Intelligence Agency (DIA) suggested that the weekend strikes, dubbed Operation Midnight Hammer, did not completely destroy Iran’s nuclear capabilities.

Trump has remained firm that the sites were ‘totally obliterated,’ and the White House has strongly pushed back against the report. And both the Israeli and Iranian governments agree that the sites were badly damaged.

Members of the Senate Foreign Relations Committee and Senate Armed Services Committee told Fox News Digital that they were confident in the president’s assessment and pushed back against the DIA’s findings.

‘First of all, one of the things I’d consider is the DIA said that Ukraine would be wiped out in three days,’ Sen. Kevin Cramer, R-N.D., told Fox News Digital. ‘And second, whatever the damage to Fordow is, the damage to the [nuclear] capabilities of Iran are devastating.’

Cramer said that the effectiveness of the bombing, which was carried out by several B-2 bombers armed with bunker-busting bombs, could not be ‘overstated,’ and warned that lingering questions surrounding the effectiveness of the operation were just ‘fodder for political discussion.’

‘I think the mission was accomplished,’ he said.

Senate Armed Services Committee Chair Roger Wicker, R-Miss., had not yet read the report, but called the DIA’s finding and subsequent news reports ‘bogus.’ Wicker’s sentiment came just after Senate Republicans met behind closed doors with Israeli Ambassador Yechiel Leiter.

‘We just spoke to the Israeli ambassador to the United States just a few moments ago, and his assessment is that their capability has been destroyed for years,’ Wicker said.

Still, just how damaged the nuclear facilities are, particularly the Fordow Fuel Enrichment Plant buried deep under layers of rock, is a question lawmakers want answered and believe would only come from a true boots-on-the-ground assessment.

Senators are set to receive a briefing Thursday afternoon from Trump officials on the strikes, and expect to learn more about the true extent of the damage.

Sen. Mike Rounds, R-S.D., told Fox News Digital that he’d seen all the evidence and there was not ‘an inconsistency’ between the president’s assertions and the materials he had seen.

He said that the briefing would allow lawmakers ‘a chance from multiple sources to glean what’s actually down deep underneath,’ but noted that until more clear information was available, absolute confirmation of the total damage wrought by the bombs was not complete.

Whether another strike should be authorized should further intelligence show that the program was not fully destroyed, Rounds said, ‘another strike depends on what the other options would be.’

‘I don’t think you ever take anything off the table for the president, but there might be other ways of handling it as well, because we’ve really opened that place up now,’ he said.  

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