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Sam Bankman-Fried Files Official Pardon Request

Sam Bankman-Fried has applied for a presidential pardon, submitting a petition to the Justice Department’s Pardon Attorney Office more than two years after his conviction over the collapse of FTX.

The application, which requests a “pardon after completion of sentence,” has been assigned case number P338490.

You can read more on the matter here.

What’s going on?

• Uniper Signs LOI For LNG From Ksi Lisims for 2 Million Tonnes a Year (theDeepDive)

• Weak economic backdrop could keep rent prices soft this summer: report (CTV)

• Pelley Alleges CBS Told Him to ‘Inject Falsehoods’ in Minneapolis ICE Report, Calls for Weiss’s Removal (theDeepDive)

• Poilievre issues call for national unity, federalism reform in speech to Albertans (Globe)

• ‘I’ve Had Enough’: Trump Walks Out of NBC Interview After Welker Challenges His Election Claims (theDeepDive)

• Donald Trump’s $100,000 H-1B visa fee blocked by judge (FT)

• Federal Lawsuit Seeks to Stop White House UFC Event, Calls It a ‘Corrupt’ Handout to Trump Allies (theDeepDive)

• Trump Struggled to Rein In Netanyahu’s Strikes on Iran (WSJ)

• UPDATED: Philippines Hit by 7.8-Magnitude Quake, Tsunami Waves Flagged as Possible (theDeepDive)

What’s the latest?

• Airlines: Canada is offering airlines loans of up to $150 million each to help offset soaring jet fuel costs caused by the Iran war and disruptions in the Strait of Hormuz. Airlines receiving aid must maintain jobs, limit dividends and executive pay, and commit to "buy Canadian." Rising fuel prices have already led to route cuts, lower profit forecasts, and higher ticket prices, with Canadian airfares up 17% year-over-year and industry profits expected to fall by US$3 billion across North America.

• Real Estate: Canada's average asking rent fell 4.7% year-over-year to $2,029 in May, marking the 20th consecutive month of annual declines and roughly $100 lower than a year ago. Rent growth remains unusually weak, rising just 0.1% from April versus a typical 1.3% seasonal increase, as slower population growth, economic weakness, and record apartment completions boost supply. Major provinces saw declines led by B.C. (-5.4%), Ontario (-5.0%), and Alberta (-4.7%).

• War: Iran says it has stopped direct strikes on Israel but warned it will resume attacks if Israel continues military operations in Lebanon. Despite renewed missile exchanges over the weekend, both sides remain under a fragile ceasefire framework negotiated with the U.S., while President Trump claims peace talks are progressing and is pushing for an immediate ceasefire. The conflict has now exceeded 100 days, and although oil prices briefly surged more than 5%, they later retreated as markets weighed the possibility of renewed negotiations.

• Politics: Trump has formally nominated Todd Blanche to be U.S. Attorney General after serving in the role on an acting basis for over two months. Blanche previously represented Trump in multiple criminal cases and has faced criticism over potential conflicts of interest, a controversial $1.8 billion Anti-Weaponization Fund, and a DOJ settlement granting Trump-related tax immunity for filings made before the IRS lawsuit settlement. His confirmation battle could be contentious, with lawmakers questioning his independence, handling of the Jeffrey Epstein files, and close ties to Trump, though the Senate will ultimately decide whether to confirm him.

• Markets: Markets rebounded after Friday's selloff, with the S&P/TSX gaining 267 points (+0.8%) to 34,680, led by base metals, technology, and energy stocks. In the U.S., the Nasdaq jumped 453 points (+1.8%), while the S&P 500 rose 75 points (+1.0%) and the Dow gained 145 points (+0.3%). The Canadian dollar weakened slightly to 71.71 US cents, while oil rose 1.8% to US$92.14/barrel and gold slipped US$12.40 to US$4,352.90/oz.

The Highest-Grade Copper-PGM Discovery in the World?

The stock market and stuff

• Amazon Raises Record $14B Canadian Bond For AI Funding (theDeepDive)

• Private Markets Face Liquidity Reckoning as Withdrawal Restrictions Spread to Private Equity (theDeepDive)

• Nvidia CEO Jensen Huang declines Senate testimony on AI, China and exports (CNBC)

• Morningstar Sees SpaceX Worth Half Its IPO Price (theDeepDive)

• South Korea Halts KOSPI Trading After 8% Crash as Semiconductor Stocks Collapse (theDeepDive)

In the juniors

• GoGold Secures Final Permits, Greenlights Construction at Los Ricos South (theDeepDive)

• Antimony Resources Trenching at Bald Hill Averages 19.5% Antimony, Peaks at 44.2% (theDeepDive)

• McEwen’s Grey Fox Project Expected To Extend Fox Complex Mine Life To 2041 (theDeepDive)

FULL DISCLOSURE: Canadian Copper is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Canadian Copper. The author has been compensated to cover Canadian Copper on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.