Declassified Documents Show FBI Probed Whether Trump Fired Comey At Russia's Direction

Authored by Zachary Stieber via The Epoch Times,

Newly declassified documents show the FBI probed President Donald Trump's termination of the agency's director as part of an effort to substantiate allegations that Trump colluded with Russia.

Former FBI Director James Comey in Berlin, Germany, on June 19, 2018. Carsten Koall/Getty Images

The documents, declassified by a White House task force on Aug. 5, refer to Trump's firing of FBI Director James Comey on May 9, 2017.

In one of the documents, dated May 16, 2017, the FBI said it was opening an investigation "based on an articulable factual basis that reasonably indicates that President Donald J. Trump may be or has been, wittingly or unwittingly, involved in activities for or on behalf of the Government of the Russian Federation which may constitute violations of federal criminal law or threats to the national security of the United States."

The goal of the investigation "is to determine if President Trump is or was directed by, controlled by, and/or coordinated activities with, the Russian Federation in a manner constituting a threat to the national security of the United States and/or a violation of federal criminal statutes," the document states.

The investigation, codenamed Oxferd Comma, would also look into whether Trump and "others yet to be named" obstructed or conspired to obstruct any related FBI investigations, according to the document.

That included whether Trump's firing of Comey was linked to the FBI probing Russian efforts to influence the 2016 election, the document said.

Comey was fired after officials determined he mishandled a probe into then-Secretary of State Hillary Clinton's use of a personal server to send classified emails, including announcing without clearance from the attorney general that the case should be closed without prosecution, according to a memorandum from then-Deputy Attorney General Rod Rosenstein to the attorney general that was later made public.

Trump said shortly after Comey's termination that he fired Comey due to his mishandling the probe of Clinton, who ran against Trump in the 2016 election.

The document opening the probe said that Trump's rationale for firing Comey "has changed over time."

While Trump initially in public attributed the decision to conclusions from Rosenstein and then-Attorney General Jeff Sessions, and the White House said in a statement that the firing had "nothing to do with Russia," Trump said in a television interview several days later that he was going to fire Comey regardless of the recommendation from Department of Justice officials because "this Russia thing with Trump and Russia is a made up story."

James Baker, the FBI's general counsel at the time, and William Priestap, the FBI's assistant director for counterintelligence at the time, signed off on the probe, and other top FBI officials, such as acting FBI Director Andrew McCabe, were aware of the investigation, according to the document and other papers.

The White House Government Transparency Task Force declassified and released the documents.

Trump created the task force in May to advise him on documents "that should be declassified and/or released to the public to further his administration's priorities of transparency and accountability," according to a July 13 statement from the task force.

John Solomon, chairman of the task force, said in a statement released by the White House that evidence when the investigation was opened already undercut suspicions that Trump was acting as a Russian asset, including testimony from FBI special agent William Barnett.

The White House declined to comment.

The FBI did not respond to a request for comment by publication time.

The probe into Trump's termination of Comey was closed on April 9, 2019, after special counsel Robert Mueller concluded that there was no evidence to support claims that Trump and his campaign colluded or coordinated with Russia.

"The Special Counsel provided the Attorney General with a confidential report explaining his prosecution and declination decisions," the document outlining the closing of the investigation reads.

Tyler Durden Wed, 08/05/2026 - 20:55

Fresh Panic As Pentagon Has Used 'Virtually All' Its Long-Range Precision Missiles On Iran

US forces "used up virtually all" of their precision, long-range missiles during the course of the Iran war, and during the earlier heavy US-Israeli campaign of Operation Epic Fury, Reuters reported Tuesday.

This has raised serious "concerns about the military's ​readiness for future conflicts," informed sources told the outlet. In particular it is the Army Tactical Missile Systems (ATACMS) and Precision Strike Missiles (PrSM) which are said to be running critically low.

US Army file image

"Washington has used virtually all of these weapons," two sources told Reuters, after several media reports and think tank studies had already sounded the alarm over dwindling missiles amid both the Iran war and in the years-long process of supplying Ukraine. Low Patriot defense missile supplies have also been a persisting issue in the headlines.

They are costly and time-consuming in terms of manufacturing replacements. For example a single ATACMS munition costs about $1 million.

One immediate consequence could be that if heavy bombardment of Iran starts up again, the US would have to conduct riskier piloted aerial bombings - instead relying on longer range precision strikes afforded by the land-based systems at safer distances.

And another, somewhat obvious consequence, is highlighted in the following: "But as ​the war drags on, the three people familiar with the matter expressed worry that the falling missile supplies could limit the U.S. ability to deter adversaries, including Russia and China."

The report added: "A fourth person ⁠familiar with the matter said that while Central Command — which oversees U.S. forces in the Middle East — has nearly used up the land-based missiles it had before the war began, it has been able to reload from U.S. military supplies elsewhere in the ​world."

President Trump has of late responded to these now widespread reports of badly depleted advanced munitions, explaining that "Our defense companies are, at this moment, making more munitions than they have ever made before, ​in addition to expanding their plants and equipment at record levels."

Additionally,  Secretary of War Pete Hegseth took to social media to refute the report, calling it false news.

“That banner is NOT TRUE, CNN. Shame on you,” the Pentagon chief said in a post on X. “We don’t hate the Fake News media enough.”

Hegseth was specifically referring to a CNN on-screen banner that read: “Sources: U.S. has used nearly 80% of key missile interceptors in Iran war, top commanders warn stockpiles dangerously low.”

However, the Reuters report has set off speculation that Trump's weekend backtracking on planned 'harder' Iran strikes could have been in part because the Pentagon has warned of waning supplies and capabilities regarding conventional way of doing long-range missile strikes.

We’re out of crucial defensive weapons systems, and now we’re out of crucial offensive weapons. Other than that, Sir, how’s the war going? https://t.co/qXNiSLHQho

— Mark Ames (@MarkAmesExiled) August 4, 2026

Critics of the decision to go to war in the first place have warned over this very scenario of exhausting Pentagon stockpiles. Those against this war of choice say that it's the opposite of America First - and that ultimately the war is about protecting Israel and not necessarily American security and interests.

The reality also is that in the opening days of Operation Epic Fury, the US seemed underprepared for the ferocity of the Iranian response. At least 13 American bases in the region were hit and damaged in just the opening weeks of the war, to the point that US forces across the region had to be moved back from front line Gulf areas, and energy sites across the region were pummeled and suffered billions of dollars in damage.

Tyler Durden Wed, 08/05/2026 - 20:30

China's Power Demand Hits Records As Heatwave Grips Key Regions

By Irina Slav of OilPrice.com

Electricity demand in much of China hit a record this week due to scorching summer temperatures, driving grid loads to all-time highs, the State Grid Corporation of China said today, as cited by Reuters.

On Monday and Tuesday, the company said, electricity loads reached a record in the country’s northern, northeastern, and eastern regions. No blackouts have been reported, however, as the grid operator moves in time to direct more baseload electricity where it is needed for air-conditioning.

According to forecasts from the Chinese state meteorological agency, temperatures across much of China will remain high, in some cases potentially reaching or even exceeding historical peaks, the Reuters report also noted.

In January this year, State Grid Corporation of China, the world’s largest utility enterprise covering 88% of China’s land area and serving over 1.1 billion people, said it planned to spend $574 billion (4 trillion Chinese yuan) on fixed-asset investments for the five years to 2030, as part of its 2026-2030 investment plan.

The sum is 40% higher than what the State Grid Corporation of China spent in the previous five-year investment period to 2025. The company will use the money to upgrade and expand the power transmission and distribution systems amid a surge in renewable energy capacity installations and a continued rise in electricity demand.

China is the world’s biggest builder of wind and solar, but it has also expanded its coal-powered generation capacity to ensure stable supply that can respond to demand changes in a timely fashion. Yet the country is also building out its battery storage capacity to be able to utilize more of its wind and solar electricity output. China plans to have its battery storage capacity more than double to 180 gigawatts by 2027 in a new plan aimed at attracting $35.1 billion (250 billion yuan).

Tyler Durden Wed, 08/05/2026 - 20:05

Federal Operation Takes More Than 800 Dangerous Truckers Off US Highways

Authored by Kimberly Hayek via The Epoch Times,

Federal authorities took more than 800 dangerous truckers off America's roads in a three-day enforcement action, officials revealed Tuesday. In the operation, they targeted unqualified foreign drivers and unsafe commercial vehicles.

A truck drives through the Port of Oakland in Oakland, Calif., on Nov. 14, 2025. California has revoke 17,000 commercial driver’s licenses improperly issued to foreign drivers, about 2.5 percent of all commercial licenses in the state. Justin Sullivan/Getty Images

The most recent wave of Operation Highway Shield was conducted from July 28 to July 30. Inspectors from U.S. Immigration and Customs Enforcement's Homeland Security Investigations collaborated with the Federal Motor Carrier Safety Administration and state highway patrols. They conducted roadside checks on illegal, unvetted drivers and vehicles that failed basic safety standards.

Officers detained 51 illegal immigrants over the course of three days, including 21 drivers holding non-domiciled commercial driver licenses issued by California and New York. Authorities placed 766 unsafe drivers and vehicles out of service. They arrested 86 operators for dangerous behavior, such as road rage and domestic violence. Officials issued 36 violations for failing English language proficiency tests, and nearly $1 million in stolen cargo was recovered.

Department of Homeland Security (DHS) Secretary Markwayne Mullin and Department of Transportation (DOT) Secretary Sean Duffy announced the early results. Mullin underscored the risks unqualified drivers pose when they are behind the wheel of large trucks.

"When illegal aliens are behind the wheels of semi-trucks, they are putting American lives in danger," DHS Secretary Markwayne Mullin said in an X post.

Duffy said the effort was part of President Trump's directive to secure roads, eliminate fraud, and restore integrity to the trucking industry.

"Every life lost from an illegal trucker behind the wheel of a big rig is a completely preventable tragedy - and this administration will not stand for it," Duffy said.

"If you continue to illegally operate a big rig - your days on America's streets are numbered," the Secretary warned.

Last month, DHS and DOT announced a partnership in an effort to probe fraudulent and illegal practices at commercial driver license schools. Officials have said the schools issue credentials to unqualified individuals, including illegal immigrants, allowing them to drive semi-trucks on public highways.

Roadside inspections entail officers checking licenses, testing language proficiency required for reading road signs and understanding instructions, examining vehicle condition, and reviewing driver records. Failures in any of those areas can lead to immediate out-of-service orders. The targeted driver or vehicle can no longer be operated until deficiencies are fixed or the driver is removed from the road.

English language proficiency has become a key area of focus. Federal rules require commercial drivers to be capable of communicating sufficiently in English to understand highway signs, respond to law enforcement, and handle emergencies.

Tyler Durden Wed, 08/05/2026 - 19:15

Tit-For-Tat: China Hits Back At US With Tighter Drone Export Controls

Sino-US relations are showing renewed signs of deterioration ahead of President Xi Jinping's expected visit to the US in late September. Beijing is retaliating against a series of recent U.S. trade restrictions.

The Financial Times reports that the Commerce Ministry is set to review exports of drones, critical components, and related dual-use technologies on a "case-by-case basis." The report did not mention the exact details.

The ministry also barred Chinese companies from dealing with Applied DNA Sciences and five other U.S. entities accused of "supporting illegal U.S. sanctions concerning Xinjiang."

The ministry's announcements come as the Trump administration has added 43 Chinese companies to its forced-labor import blacklist and imposed tighter Federal Communications Commission restrictions on Chinese drones, routers, telecommunications equipment, and other high-tech devices.

Here's the reporting on US restrictions:

• "Safeguard Our Homeland": FCC Moves To Ban Foreign Military-Grade Drone Imports
• Trump Admin Set To Ban Chinese Robots In "Economic Security" Push
• Trump Admin Drafting Ban On Chinese Optical Transceivers To Protect Data Centers From Spying

The "measures seriously violate the important consensus reached by the two heads of state and severely damage China's legitimate rights and interests. China has no choice but to take necessary countermeasures in response," the ministry wrote in a statement.

Uncertainty surrounding Beijing's drone export controls should concern U.S. hobbyists and commercial operators. China remains the epicenter of the global drone industry and is home to major manufacturers, including DJI, Autel Robotics, and XAG, leaving US buyers exposed to potential disruptions in drones, components, and replacement parts.

Looking ahead, Xi is expected to arrive at the White House on September 24 for a meeting with President Trump.

"President Xi is coming over on September 24, and ‌we talked about it (artificial intelligence) when I was over in Beijing, and we'll be talking about it again," Trump recently said.

Polymarket odds have Xi's US visit at 93% odds.

//--> //--> Will Xi Jinping visit US before 2027?
Yes 93% · No 8%
View full market & trade on Polymarket

The only problem here is that shell companies and intermediaries can often find workarounds to corporate sanctions. That became clear earlier this year when banned Nvidia AI chips ended up in China.

Tyler Durden Wed, 08/05/2026 - 18:50

Argentina's Milei: Ending the Debt State By Holding Politicians Personally Accountable For Fiscal Excess

Submitted by Thomas Kolbe

Only contrast reveals one's own mistakes. Javier Milei is the antithesis of Germany's political class, and the comparison could hardly be starker.

While Germany continues to expand the state, Argentina is slashing subsidies and radically reducing the size of its public bureaucracy. While Berlin piles up enormous amounts of public debt, Buenos Aires is posting a primary budget surplus. Friedrich Merz believes in the healing powers of state intervention, whereas Milei is deregulating markets and paving the way for an investment boom.

Argentina has achieved an economic turnaround while Germany continues its economic decay. Argentina's economy is growing steadily, private-sector employment is expanding, and the poverty rate is falling rapidly.

At a time when Germany is doubling down on debt, the arms industry, and green state planning, Milei appears like a comet defying both political gravity and conventional doctrines of government.

The Argentine president's latest initiative is the so-called "Grillete Fiscal"—literally, the "Fiscal Shackles."

Behind the martial name lies what amounts to a fiscal revolution. Milei first unveiled the proposal in his characteristically entertaining style during a televised address to the Argentine people. The bill must still be approved by Congress, where his party, La Libertad Avanza, is expected to secure the support of allied parliamentary factions in both chambers.

Although Milei lacks a parliamentary majority of his own, his alliances have thus far proved remarkably resilient.

If enacted, the legislation would break with one of modern politics' unwritten rules: the assumption that governments can always buy votes with higher spending, higher taxes, and ever more debt. The business of burdening future generations and taxpayers with politically manufactured credit expansion would, at least for the time being, come to an end.

Milei's idea is straightforward: future Argentine governments should have their wings clipped before they are even able to take flight on another debt-financed spending spree.

The mechanism is equally straightforward. Should the federal budget remain in deficit for several consecutive months, Congress would be given a deadline to restore fiscal balance. Failure to do so would automatically trigger a U.S.-style government shutdown. Non-essential government activities would be suspended automatically—without further parliamentary debate or political horse-trading. The President, Vice President, cabinet ministers, state secretaries, and every member of both houses of Congress would receive not a single peso in salary until the budget is balanced once again.

Furthermore, all new spending would be frozen. No new contracts could be awarded, and no additional public employees could be hired. Even more striking, discretionary transfers from the federal government to Argentina's provinces would also be suspended.

At the same time, the law deliberately protects the state's core responsibilities. Pension payments, healthcare services, unemployment benefits, as well as the salaries of police officers, members of the armed forces, and correctional staff would remain fully exempt from these austerity measures.

For Germany's statists, such a proposal is almost unthinkable. Rather than engaging with Milei's ideas or his policies, they prefer to ignore him altogether. For Chancellor Friedrich Merz, Milei has become something of a red flag. On one occasion during a televised interview, Merz claimed that the Argentine president was ruining his country and trampling on its people.

A typical Merz response. The German chancellor views the world through a prism that distorts reality. He speaks like a genuine believer in the omnipotent state—a conviction that has never been shaken by a lifetime spent safely within the political establishment.

Then, every once in a while, someone breaks ranks within Germany's left-wing consensus and says out loud what many of them truly think about Milei. He is supposedly "authoritarian," they claim, and a threat to human rights. In April of this year, Germany's Left Party even introduced a parliamentary motion describing Milei as "ultra-neoliberal." Coming from one of Germany's most statist political parties, such a label should be taken as a compliment. It says far more about the intellectual limitations of its authors than about Milei himself.

What is both striking and disturbing is how closely the German chancellor's rhetoric has drifted toward the coarse vocabulary traditionally associated with the political left.

Yet even Javier Milei cannot truly satisfy Germany's libertarians. Their intellectual figurehead, Hans-Hermann Hoppe, the former University of Nevada, Las Vegas professor and a student of Murray Rothbard, complained only months into Milei's presidency that he had failed to deliver on his central campaign promise: abolishing the central bank.

The criticism exposes a fundamental weakness of many libertarians: they inhabit the theoretical world of textbook logic. Within that framework, it seems inconceivable that abolishing the central bank overnight could derail Milei's entire presidency. It requires little imagination to picture the alternative—a financial collapse followed by the fall of the government, precisely the kind of scenario that would jeopardize Milei's entire reform project.

But it is not Milei's job to please everyone. In the end, every successful political leader disappoints almost every constituency. He hands out no favors and makes no empty promises. His uncompromising austerity program is detoxifying the state, restoring market economics, dismantling subsidies—and turning into losers all those who had long lived off the public purse without productive contribution, sustained by political patronage rather than genuine economic necessity.

If Milei stays the course and Argentina continues to regain stability, he is likely to go down in the nation's history as a libertarian reformer who combined conviction with prudence. Germany's statists—from Friedrich Merz and Lars Klingbeil to Ursula von der Leyen—would do well to prepare themselves. They may ignore him, ridicule him, or insult him, but reality has a habit of quietly making its way into people's minds.

As Nietzsche wrote in Thus Spoke Zarathustra: "Thoughts that come on dove's feet guide the world." Sometimes, however, they arrive accompanied by the roar of a chainsaw.

* * * 

About the author Thomas Kolbe, a German graduate economist, has worked for over 25 years, he has worked as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination.

Tyler Durden Wed, 08/05/2026 - 18:25

Japan Looks To Palantir For Battlefield AI

Japan is preparing to introduce AI into the command-and-control systems of its Self-Defense Forces as part of a wider military modernization effort aimed at improving operational speed and interoperability with the United States, according to Nikkei. 

Under the proposal, multiple U.S.-developed AI platforms would support commanders by processing battlefield data, assisting with tactical decisions, and coordinating operations across missions such as missile defense, counterstrikes, and drone deployments. The initiative is expected to be incorporated into revisions of Japan's national security strategy later this year as the government reshapes its defense posture over the next five years.

Among the technologies under consideration are Palantir's Maven Smart System, which analyzes intelligence and recommends targets and tactics, and Anduril's Lattice AI, which fuses information from sensors into a single operational picture while enabling autonomous coordination of drones and other assets in contested environments.

Nikkei reports that Japan currently lacks AI-enabled command systems, but officials see the technology as essential for keeping pace with increasingly data-intensive and fast-moving military operations. As cooperation with U.S. forces deepens, particularly following the launch of the Joint Operations Command in 2025, narrowing the gap in decision-making speed has become a growing priority.

At the same time, Tokyo is seeking to avoid long-term dependence on foreign technology. One proposal would place a Japanese-developed AI layer above the U.S. systems to determine which model is best suited for a given task. Sakana AI's Fugu, designed to orchestrate multiple AI models, has emerged as a leading option for this role and already works with Japan's Defense Ministry.

The government also plans to host the supporting data infrastructure within Japan to better protect sensitive military information. Even so, officials acknowledge that maintaining compatibility with U.S. AI platforms will be critical, creating a balance between rapidly adopting proven foreign technology and preserving the flexibility to transition to domestic AI capabilities in the future.

Tyler Durden Wed, 08/05/2026 - 18:00

OpenAI, Anthropic Models Created Fake Profiles, Tried To Trick Humans During Cyber Tests

Authored by Naveen Athrappully via The Epoch Times,

Artificial Intelligence (AI) models from Anthropic and OpenAI carried out unsanctioned actions targeting multiple people and organizations during a cyber evaluation, according to the UK AI Security Institute (AISI).

Illustration of Anthropic on June 18, 2026. Riccardo Milani/Hans Lucas via AFP via Getty Images

AISI, which receives access to advanced AI models under voluntary agreements from major labs, put the agents through a fictional cybersecurity scenario to test capabilities.

The organization tested multiple AI models on two cyber challenges between July 25 and 28. In total, the challenges were run 122 times across several models, and in 19 cases, the AI models took "unsanctioned action on the live internet, including cases that targeted real people and organisations," AISI said in an Aug. 4 report.

Out of these, 17 were done by Anthropic's Mythos 5 model and two by OpenAI's GPT 5.6 Sol model.

"This is the first time AISI has seen deception of this severity that was targeted at a real person, unprompted, in the real world. It is uncertain to what extent the model recognised it was taking actions against real people," AISI stated in the report.

In the most serious incident, Mythos 5 tried to solve a cyber challenge by attacking GitHub, a cloud service that allows developers to store and manage code. The AI created a GitHub account and tried to get a malicious code approved by humans. Mythos 5 also created a second GitHub account, masquerading as another human user endorsing the malicious code. When a human reviewer caught the activity, the AI agent "falsely claimed to have made an honest mistake" and then repeatedly tried to reintroduce the malicious content by claiming the code was fixed.

Mythos 5 also sent multiple emails to two developers in an attempt to manipulate the recipients into running its malicious code.

According to AISI, the test runs of the various models did not result in any real-world harm. The organization said it was treating the AI actions as a "serious security incident" that requires further scrutiny.

AISI listed multiple factors that could have led to AI models acting in a concerning manner. The AIs were provided with internet access during the tests, which allowed them to carry out the unsanctioned actions.

AISI had also deliberately disabled the models' cyberclassifiers during tests. Cyberclassifiers are systems aimed at preventing misuse.

The AI models were also not explicitly told what they were prohibited from doing on the internet, AISI said, adding that clearer instructions may have prevented the unsanctioned actions.

In an Aug. 4 blog post, AISI said that since the behavior of AI models happened under specific conditions, it cannot say how likely such behavior will be in different contexts.

"What we can say is that the behaviour was possible, sustained, and new; that alone warrants attention," the organization said.

In an Aug. 4 post on X, Anthropic said that Mythos 5 and ChatGPT 5.6 Sol models attempted to complete their assignments in an environment where they were deliberately provided internet access and their normal safeguards were removed.

Due to the absence of specific restrictions on how the internet must be navigated and lack of safeguards, the models were tested under conditions that are "not representative of any of our production models," Anthropic said, adding that there was no evidence in these tests of an AI escaping from a secure environment.

According to the company, it was closely working with AISI to access more details on the incident while carrying out an internal investigation on the matter.

OpenAI said in an Aug. 4 statement that it appreciated AISI's partnership throughout the evaluation process, including the organization's work to identify, investigate, and share details about the activity of the GPT 5.6 Sol model in their tests.

"We look forward to continuing our collaboration together," the company said.

The Epoch Times reached out to Anthropic and OpenAI for comment but did not receive a response by publication time.

OpenAI was in the midst of another controversy last month after it admitted on July 28 that its models bypassed restrictions during an evaluation. In this case, the company was testing its models' capabilities in carrying out cyberattacks.

AI startup Hugging Face was impacted in the test. On July 16, the startup said it detected an intrusion into its data processing systems. It was only later that the startup learned that the intrusion was carried out by an OpenAI model.

HuggingFace then worked with OpenAI to contain the attack, the startup's CEO, Clement Delangue, said in a July 22 post on X, calling it "an attack unlike anything we've seen before."

"This is day one for cybersecurity in the age of agents & we're all learning that secrecy is not the answer & that all defenders (not just a few selected ones) everywhere need more powerful models without restrictions, especially open ones," Delangue said.

A robot hand reaches out to the letters AI (Artificial Intelligence) in an image taken at an undisclosed location on June 23, 2023. Dado Ruvic/Reuters Tyler Durden Wed, 08/05/2026 - 17:40

Jim Cramer Just Sold His Bitcoin And Bulls Couldn't Be Happier

Looks like $100,000 bitcoin may be on deck, because Cramer is selling.

The ultimate inverse indicator Jim Cramer says he is selling all of his bitcoin, warning that rapid advances in quantum computing could threaten the cryptocurrency’s security within the next three to four years, according to Cointelegraph and Coindesk.

The CNBC host made the decision after interviewing IBM CEO Arvind Krishna, who urged investors to be "paranoid" about the potential impact of quantum computers on modern cryptography. Cramer said the conversation convinced him it was time to exit his bitcoin position.

Crypto traders, however, largely shrugged off the warning. Instead, many celebrated the announcement, reviving the long-running "inverse Cramer" meme, which jokingly treats his bearish calls as bullish signals. "If Cramer is selling, it's time to start buying," one trader wrote on X.

Bitcoin barely reacted, continuing to trade around $64,000 despite Cramer's comments, a recent Coldcard security incident, and signs that large bitcoin holders have begun moving or selling coins as overall crypto trading volumes decline.

The quantum computing debate itself remains unsettled. Some analysts believe bitcoin may need to transition to quantum-resistant cryptography within the next several years, while others argue practical quantum computers capable of breaking Bitcoin's encryption are still decades away. Even if such a breakthrough occurs, experts note it would threaten far more than cryptocurrencies, potentially disrupting banks, governments, and nearly every digital system that relies on modern encryption.

Cramer's latest warning also comes with plenty of historical baggage. The television personality has become famous for making high-profile market calls that later proved spectacularly wrong, from recommending Silicon Valley Bank shortly before its collapse to repeatedly changing his stance on bitcoin over the years.

That track record has turned "inverse Cramer" into one of Wall Street's favorite running jokes, with many investors instinctively betting against his latest prediction rather than following it.

Tyler Durden Wed, 08/05/2026 - 17:20

Iran-Oman Hormuz Route 'Agreed To' As Iran Warns Against US 'Interference' Summary

• Iran says Hormuz route is agreed: Tehran says it has finalized a shipping route with Oman, blaming U.S. actions for delaying a final agreement.
• Tehran claims victory: Iranian officials say the deal would lock in Iran's wartime gains and strategic leverage over Hormuz.
• Mixed messages: Trump says a deal could come within days, while Iran insists the talks are only with Oman.
• Draft outline emerges: Reports outline Iranian oversight of inbound traffic and Omani management of outbound shipping.
• High stakes as pressure eased on markets, but geopolitical tensions high: A deal could ease energy market fears while leaving Iran with more influence over Hormuz than before the war.

//--> //--> //--> US announces end of Iranian blockade by August 31, 2026?
Yes 80% · No 21%
View full market & trade on Polymarket

*  *  *

Iran-Oman Route 'Agreed To' as Iran Warns Against US 'Interference'

A statement from Iran's Foreign Ministry warns that the United States and military 'interference' remain the biggest obstacles to a final Hormuz deal to reopen the strait:

Esmaeil Baqaei: The geographical coordinates of the route proposed by Iran and Oman in the Strait of Hormuz have been agreed upon. If some third parties do not obstruct this process, the joint statement between the two countries is in the final review and drafting stage. The understanding between Iran and Oman, in itself, cannot guarantee the safety of the Strait for passing ships, because the factors that create insecurity in the Strait of Hormuz, particularly those stemming from the United States, such as the naval blockade and other aggressive and threatening actions against Iran and its interests, still exist.

Latest details from Financial Times:

Initially, Iran would send ships, including oil tankers, through the waterway to ensure it is free of mines before the strait opens to other shipping, FT reports citing sources

• Ships would not be charged fees during the temporary arrangement, the people added.
• If a deal holds and the strait reopens, the US would lift its naval blockade on Iranian ports and reinstate a waiver to allow Iran to sell oil and petroleum-related products, one of the people said.

Iranian pundits and state media continue touting this as a 'victory' over the US-Israeli war of aggression:

Ali Akbar Dareini, a Tehran-based researcher at the Center for Strategic Studies, has said Iran is aiming to “stabilise” its control over the Strait of Hormuz, which is its “biggest military achievement of the war”.

“Negotiations are aimed at stabilizing those achievements,” Dareini told Al Jazeera. “You do not negotiate to give away your achievements but stabilise them.”

Once Iran opens up the strait, Dareini said Iran is still likely to put in place a mechanism to “ensure that peace will prevail”.

“Iran wants to make sure that there will be innocent passage …  But there will not be hazardous passage, there will not be war,” he said, arguing that Tehran needs to ensure the US and its allies do not transport military equipment that could be used for attacks against it.

This also as Yemen's Houthis continue a 'siege for siege' blockade of Red Sea passage, targeting Saudi-linked vessels of Yemen's coast, as we described.

Thus far on Wednesday, the White House has remained mostly quiet on what seem to be Iran and Omani-driven talks for terms of the Hormuz Strait's reopening. Tehran, however, has not remained quiet - as US bombs have fallen silent over the past couple days:

• IRAN SAYS NEW HORMUZ ROUTE TO BE VALID FOR 2-4 MONTHS: IRNA
• IRAN: NEW OMAN DEAL TO CLOSE TEMPORARY HORMUZ SHIPPING ROUTES
• GHARIBABADI SAYS IRAN RECEIVED MESSAGES FROM US: IRNA
• IRAN: US SAID IN MESSAGES IT'S READY TO RETURN TO ITS PLEDGES

And via Israeli media, though without official confirmation from Washington:

Approaching an agreement on opening the Strait of Hormuz, N12 reports, citing American officials; The signing of the agreement is possible as early as tonight.

Meanwhile, much of all of the above depends on what 'mood' Trump is in:

US military-intelligence leaks to media are designed to dissuade Trump from escalating his war (we’re out of missiles & interceptors, Iran isn’t; Iran won’t break, etc). Whereas Israeli intel leaks to media are designed to rile Trump into escalating the war by calling him a pussy https://t.co/Uu3wfmZX8r

— Mark Ames (@MarkAmesExiled) August 5, 2026

Trump: Deal Moving Along 'Very Nicely'

President Trump said late Tuesday that talks with Iran are "moving along very nicely" - in a highly fluid and ambiguous situation where it appears the two sides are only interacting indirectly at best.

But the Iranian side has continued to insist that there are currently no peace or ceasefire talks happening, but only the Iran-Oman negotiations which focus on reopening the Strait of Hormuz and setting terms of how it will be managed. Consistent with this narrative, Al Jazeera freshly cites Iran's state broadcaster IRIB which reports that talks between Iran and Oman over the Strait of Hormuz "have nothing to do with the United States". But Washington is presenting it as a US-Oman deal for the strait's reopening, even if it fundamentally remains an Iranian-Omani proposal.

WANA/Reuters/AP images Timeline: Deal as Soon as This Week?

Trump in his latest comments echoed his Treasury Secretary from the day prior, saying, "It could happen. Tomorrow or the next day." This was on the heels of traveling to Los Angeles yesterday for a fundraising event hosted by the Republican National Committee. "A lot of progress has been made."

He told Fox that the White House is now having "very good discussions" with Iranian officials as part of an "all-day negotiation" and that the Strait of Hormuz reopening "is going to be open very soon."

"If they back out again, they are going to get hit really hard," the president told the outlet. He had said the same by close of last week, but by the weekend reversed course and decided to refrain from attacking Iran again.

According to Bloomberg, "The US, Iran and Oman are preparing to announce a 60-day agreement on shipping through the Strait of Hormuz" - but the Iranian side has not affirmed this.

So as it stands, Tehran says it is driving the Oman talks and that Washington has been sidelined, while the White House claims that it has directly involvement in shaping the outcome.

Iran-Oman-(& US) Hormuz Draft Outline Emerges

But all sides do seem in agreement that the technical details and mechanics of the deal are currently being worked on. According to the latest outline of what this is expected to look like via CBS:

Under the current proposal, ships entering the Strait would use the channel closest to Iran, with Iran coordinating inbound traffic, while vessels leaving the strait would use the Omani side, with Muscat managing outbound traffic. The proposal also includes a "service fee," with the revenue split between Iran and Oman.

According to the source, the broad outlines have largely been agreed upon, with the remaining discussions focused on implementation and timing. Axios reported something similar, in which the US is nearing a Hormuz deal. Axios added that no tolls or fees would be charged during the 60-day period and the parties would work on clearing naval mines from the median lane of the strait within 30 days.

As for the claim of 'no tolls', this could once again be just semantics, given the Iranian and Omani sides have consistently signaled the need for fund collection under the headers of safe navigation, logistics, and environmental protection.

There has also been some progress on agreements for third-party demining operations. But as Rubio reminded the world yesterday, Washington still insists resolving the nuclear issue - something which the Iranians still say can only be broached after the conflict is ended and there is peace.

Below is the version of where things stand via Axios:

• All inbound traffic of ships through the strait and into the Gulf would go in a northern lane through Iranian waters.
• All outbound traffic through the strait and into the Arabian Sea would go in a southern lane through Omani waters, in coordination with Iran.
• No tolls or fees would be charged during the 60-day period.
• The parties would work on clearing naval mines from the median lane of the strait within 30 days.
• After the median lane is cleared, it would be used for inbound and outbound traffic under the terms of a permanent arrangement to be negotiated between Oman and Iran.

More regional commentary serves as a reminder of the significant obstacles that remain toward reaching a final peace, much less the full reopening of Hormuz Strait:

But while Iranians are saying that, at this point, talks are limited to Iran and Oman, it goes without saying that the US is a key factor. We’ve got a report from state TV today citing an informed source who said that even if a deal were reached today, the breach of the Memorandum of Understanding agreement by the US means there won’t be a reopening of the strait. One of the key points of concern for the Iranians regarding the strait is the removal of the naval blockade by the Americans. They have been constantly saying that this is one of the pre-conditions.

If Axios and some other major MSM reports are to be believed, the scheme is advancing on the Iranian side. "Two regional sources said Araghchi agreed in principle over the weekend but still needed approval from Iran's Supreme Leader, Mojtaba Khamenei, and the Supreme National Security Council," writes the publication. "A U.S. official and a regional source said Iranian leadership completed its approval process on Tuesday."

An interim maritime arrangement, inside a Memorandum of Understanding, within a ceasefire.

It's a diplomatic turducken. https://t.co/WpXke2brda

— Ali Vaez (@AliVaez) August 5, 2026

Draft Deal Widely Seen as Victory for Iran

If all the above comes into force, it will widely be seen as a victory for Iran. It will leave Iran with greater control over energy transit than before the war. Simultaneously this would be Trump essentially cutting and running in order to finally extricate American forces from the deepening quagmire, while approaching the six-month mark since Operation Epic Fury started.

For example, even the NY Times admits, "Iran and Oman are closing in on an agreement to reopen shipping traffic in the Strait of Hormuz, according to Iranian and American officials, but if the accord goes into effect it could come at a high price — ratifying Tehran’s control over what, before the war, was an open, international waterway." While markets would breath a sigh of relief, Tehran would be in the driver's seat geopolitically.

US officials cited in the same report have only said the Hormuz scheme would the "temporary" - and so the ongoing contrasting interpretations suggest another tenuous and shaky agreement in the works.

"But if, ultimately, Iran asserts continued control over the passageway, the opening might come with a geopolitical cost. Iranian officials say they are designing the accord to ratify their capacity to control the strait and therefore retain strategic leverage that they did not employ before the war," the NYT also wrote.

Tyler Durden Wed, 08/05/2026 - 17:00

DHS Confirms Over 3 Million Total Deportations, Highlights Arrests Of Five More "Worst Of The Worst" Criminal Illegals

Authored by Debra Heine via American Greatness,

US Immigration and Customs Enforcement (ICE) on Monday arrested five more “worst of the worst” criminal illegal aliens convicted for heinous crimes, including voluntary manslaughter, criminal indecent exposure, aggravated assault, and fentanyl trafficking.

According to the Department of Homeland Security (DHS), more than three million illegal aliens have left the United States due to the Trump administration’s immigration crackdown: 2.2 million self-deportations, and over 985,000 deported by DHS.

Each of the five violent criminals highlighted by DHS Tuesday were arrested in deep blue sanctuary cities where anti-ICE agitators continue to harass immigration officers.

• Fernando Ruiz-Maldonado, a criminal illegal alien from Mexico, convicted for voluntary manslaughter in Los Angeles, California.

• Sergio Loya-Lozano, a criminal illegal alien from Mexico, convicted for criminal indecent exposure, hit-and-run, and TWO counts of driving under the influence in San Jose, California.

• Olman Josue Pineda-Jimenez, a criminal illegal alien from Honduras, convicted for aggravated assault and harassing communications in Charlotte, North Carolina.

• Heriberto Hernandez-Sosa, a criminal illegal alien from the Dominican Republic, convicted for fentanyl trafficking in Worcester, Massachusetts.

• Jose Manuel Pertuz-Pena, a criminal illegal alien from Venezuela, convicted for aggravated unlawful use of a weapon in Cook County, Illinois.

Immigration agents continue to carry out their law enforcement duties in blue sanctuary enclaves despite the left’s relentless coordinated campaigns of violence against them.

According to DHS, immigration officers have experienced a 1,300+ percent increase in assaults against them, a 3,300 percent increase in vehicular attacks, and an 8,000 percent increase in death threats.

“Every single day, we are REMOVING criminals from American communities. Just yesterday, ICE arrested murderers, sexual predators, violent assailants, drug traffickers, and other dangerous criminal illegal aliens,” said DHS Secretary Markwayne Mullin.

“Under the Trump Administration, the Department of Homeland Security is enforcing the law, deporting criminal illegal aliens, and defending the homeland. It’s no wonder crime rates have reached historic lows.”

DHS has listed over 40,000 illegal alien criminals on their Worst of the Worst (WOW) website which tracks ICE arrests of murderers, rapists, pedophiles, violent gangbangers and arsonists.

A DHS spokesperson told American Greatness Tuesday that over 985,000 illegal aliens have been deported since President Trump took office. An additional 2.2 million have self-deported.

“In President Trump’s first year back in office, more than 3 million illegal aliens have left the U.S. because of the Trump administration’s crackdown on illegal immigration including an estimated 2.2 million self-deportations,” the spokesman said via email.

“As of July 12, we have now deported over 985,000 illegal aliens and arrested over 1 million illegal aliens.”

Tyler Durden Wed, 08/05/2026 - 17:00

Sandisk Tumbles After Revenue, Earnings Forecasts Miss Estimates

Sandisk was one of the largest public holdings of the hedge fund of 24-year-old former wunderkind, Leopold Aschenbrenner, and its July collapse from $2300 to $1000 was chief the main reasons why the former OpenAI employee had to liquidate his extremely overlevered hedge fund and sell all positions at a 10% discount to Citadel to meet a volley of endless margin calls.

Well, if he has some dry powder left he just may be able to repurchase some or all of his portfolio from Ken Griffen following the plunge of Sandisk after hours (we jest, of course), not because earnings were weak - they beat solidly - but because the company's revenue guidance was very disappointing... and for a stock like SNDK which is priced to perfection beyond 2030 on the assumption that nobody else can produce the biggest commodity product in electronics - memory chips - the guidance was rather dismal. 

Here is what SNDK reported for fiscal Q4:

• EPS $39.25 vs Est. $34.37
• Revenue $8.97BN vs Est. $8.64BN
  • Data Center Revenue $3.0B vs Est. $2.6B
• Operating Income $7.0B vs Est. $6.4B
  • Adjusted gross margin 84.6%, estimate 81.5%
• Free cash flow $7.08 billion

And while historical were fine, it was the company's Q1 guidance that sent its stock tumbling after hours: 

• Sees revenue $10.30 billion to $10.80 billion, far below the median estimate of $11.16 billion 
• Sees adjusted EPS $44.00 to $46.00, a midline also below the estimate $45.58

Commenting on the results, SNDK said that "as the cloud and other data-intensive workloads continue to expand, we remain confident in the long-term growth trajectory of our business, further margin expansion, and strong free cash flow generation."

Perhaps, although one look at prevailing NAND prices indicates that the peak is now well in the rearview mirror...

... and the market agrees with the stock, which surged about 40% in the past few days since the Citadel takeover of the Situational Awareness hedge fund, sliding and back to about half of its all time high hit in early June.

Tyler Durden Wed, 08/05/2026 - 16:45

They Really Don't Care

Authored by Todd Hayen via Off-Guardian.org,

This might not apply to all sheep-types, but many of the ones I have encountered simply do not care. This could be the reason we can’t seem to get through to them with the facts we are constantly shoving down their throats. Of course, the ones I’ve talked to may just be saying they don’t care to shut me up, but I really don’t think so. They seem pretty sincere.

How could they not care? Now, that is the $64,000 question. People, in general, do not care about things they do not see directly affecting them. They should, but they don’t. People these days, at least, don’t seem very skilled at discerning things that will—if not cared about—eventually bite them in the ass. I think people used to be better at determining such things.

They used to see war in a neighbouring country, for example, and say, “Hmmm, if we don’t do something about that, those bloodthirsty marauders may be over here next.” People who thought that way—speculating about a potential ass-bite—actually disappeared a long time ago, if they ever existed at all.

Still, my point stands: if it doesn’t directly affect them in the present moment, they don’t care.

Sorry, I think that is weird.

And, of course, people seem very inconsistent about this.

Some things they do care about, and usually those things are not as important as the things they should care about.

Take immigration control and enforcement, for example. Most people leaning to the left seem to care very much about the treatment ICE gives to people suspected (or legally determined) to be in the US illegally. They worry about their rights, their families, and the way they are arrested and deported. Yes, some of these worries are legitimate.

Everyone should be treated fairly and respectfully by law enforcement officials, and if they are not, it is right to complain about it through the proper channels. But none of these people seem the least bit concerned about how millions of illegal—and often criminal—people will degrade the way of life for everyone already living here.

I often ask, “So, do you want open borders then, and as a result, never have laws about enforcing the rules regarding immigration?” They will invariably say, “Oh no, I do believe we should control our borders!” Go figure.

The same story goes for free speech. People may seem to care about hate speech and speech that does not fit their worldview, such as Charlie Kirk’s speaking about the negatives regarding transgenderism or abortion. But if you ask them, “So, you don’t believe in free speech then? You think the First Amendment of the US Constitution is idealistic hooey?” They will invariably say, “No, of course I believe in free speech!” But they don’t. Go figure.

They can’t see far enough ahead to recognize the consequences of cherry-picking speech—eliminating what they think is offensive and keeping only the “important stuff.” Unfortunately, you can’t do that, and up until recently people knew that. There is a consequence for freedom, and sometimes it isn’t pretty.

I think a lot of the time this “I don’t care” attitude stems from the fact that people don’t seem to care much about principles. Of course, that does depend on the “principle.” Using the immigration example again to illustrate this point: those against deporting illegal aliens seem to care about the principle of “kindness” and “loving your neighbour” and “no one should be hurt, for pretty much any reason.”

Yet they contradict this attitude in dozens of ways: expecting that people be put into prison for not calling someone by their chosen pronoun, or arresting someone giving a speech about the atrocities being committed in Gaza—they see these examples as hate speech. In these cases, it is fine to be arrested. But sneaking into the US illegally, or doing so and lying about your criminal record? That’s all okay.

I feel the shrew-types are (see my Substack for a definition of “shrew”) very aware of principles. The destruction of free speech and even the obliteration of privacy in the US is not necessarily affecting people directly (except during Covid, when it certainly did, with persecution toward the unvaccinated and the loss of jobs and livelihoods). It is a “principle thing” for a lot of us. It is the wanton destruction of the very fundamentals our country (the US) was founded on.

Not only our constitutional rights, but the inalienable rights our Creator granted us. The writing on the wall exclaiming a future none of us will be comfortable in is clear and present. We hear the train a-comin’, rolling ‘round the bend…And it doesn’t look good.

So maybe shrews also don’t freak out over injustices until we feel them, but maybe we also see what’s on the horizon more logically and pragmatically than the sheep-types do. But that too is arguable. The sheepies certainly have no problem losing their cookies over Trump, even though there is little he is doing that directly affects them in a bad way (until recently, at least).

They too claim to be looking at future calamity to justify their hate. Yet Canadians adore Carney, and can’t seem to see what his antics are bringing onto Canada: soaring inflation and grocery prices, ballooning deficits and national debt (now larger than the economy), higher taxes, and escalating trade tensions with the US through tariff retaliation and protectionist policies that critics argue risk recession and long-term economic decline. Or, probably the most devastating, getting into bed with China and the Chinese Communist Party (“It’s not Communism,” they love to bellow, “It’s socialism.” Ha ha.)

We see these inconsistencies in a variety of ways. Obama’s approach to drone warfare was entirely ignored, yet anything Trump did that was similar (before the Iran catastrophe) was considered criminal.

But do they really care? Or are they just oddly selective about what they care about?

Maybe it is more the latter we are seeing. Maybe they do care, but about strangely inappropriate things. And then not care about things that are very appropriate to care about. Got me. All I can say for certain is that it is weird. Very weird. And I do care about that.

Tyler Durden Wed, 08/05/2026 - 16:20

Israel To Scale Back Gaza Strikes To Give Trump's Hamas Disarmament Plan A Chance

Authored by Tom Ozimek via The Epoch Times,

Israel has tightened restrictions on targeted strikes in Gaza, signaling that it intends to give President Donald Trump’s initiative to disarm Hamas a chance despite Prime Minister Benjamin Netanyahu’s firm public conditions for an Israeli withdrawal.

Senior Israeli security and political officials told Epoch Magazine Israel on Aug. 5 that Israel Defense Forces (IDF) Chief of Staff Lt. Gen. Eyal Zamir has ordered that every targeted strike in Gaza receive his personal approval.

Such operations previously required approval from the head of the IDF’s Southern Command. Under the new directive, Zamir must also obtain authorization from Israel’s political leadership before a strike can proceed.

The officials said the change followed a request from Nickolay Mladenov, the Gaza envoy for Trump’s Board of Peace, to suspend Israeli strikes for two weeks while negotiations over Hamas’s disarmament move forward.

They said Israel wants to avoid a confrontation with Trump and demonstrate that it remains fully coordinated with the Board of Peace and committed to the president’s 20-point Gaza plan.

The remarks, made a day after Netanyahu publicly outlined Israel’s objections to the U.S. proposal, highlighted Israel’s coordination with Washington and signaled that Jerusalem remained open to continued negotiations.

Netanyahu said in an Aug. 4 video message that Israel would not withdraw from its current positions in Gaza until Hamas had been completely disarmed.

“President Trump and his team believe they can bring about Hamas’s disarmament and the demilitarization of Gaza,” Netanyahu said. “We are examining that.”

Netanyahu said Washington had sent Israel a draft proposal that his government had not accepted, adding that Israel had submitted its own comments.

“This is our position,” he said. “We stand firm in defending our interests, both wisely and resolutely.”

A senior Israeli official told Epoch Magazine Israel that despite the new restrictions on strikes, militants in Gaza would not have immunity. Anyone attempting to harm Israeli troops would be targeted.

Disarmament Talks

Trump announced on July 30 that the Board of Peace had reached what he called a historic agreement for the complete disarmament of Hamas and other armed groups in Gaza.

Under the proposed phased arrangement, military operations would stop before heavy weapons, tunnels, and weapons-production sites were decommissioned. Israeli forces would then withdraw as disarmament progressed, while an International Stabilization Force and a newly trained Palestinian police force assumed responsibility for security.

Gaza would eventually be governed by a technocratic Palestinian administration working with the Board of Peace, according to U.S. officials.

Hamas and other Palestinian factions agreed on July 31 to a gradual process for cataloging and storing their weapons under the supervision of the National Committee for the Administration of Gaza, according to the Board of Peace.

A central dispute remains over the sequence. Israel says Hamas must disarm before Israeli forces pull back from the roughly 60 percent of Gaza they currently control. Hamas says Israel must first stop its strikes and begin withdrawing.

The Board of Peace held what it described as a “constructive and detailed” meeting with Netanyahu and other Israeli officials in Jerusalem on Aug. 3.

“The goal is clear and is not in question: the complete decommissioning of weapons in the Strip and the transition away from rule by the gun to civilian governance,” the board said. “Reaching it will be a process.”

The prospect of an agreement has generated cautious optimism among some Gaza residents exhausted by nearly three years of war and displacement.

“We feel a sense of joy when we hear the news, and we hope it turns out to be true,” said Fatima Mohammed, a displaced resident.

Tyler Durden Wed, 08/05/2026 - 15:45

Hackers Launch 'Vishing' Cyberattacks Against Major Hedge Funds

Several major Wall Street firms have been hit with a wave of sophisticated cyberattacks using voice phishing, or 'vishing' to trick employees into revealing sensitive information or granting access, Bloomberg reports. 

Crash Override gets his ass handed to him by Acid Burn (Hackers)

The attacks targeted some of the world's largest hedge funds - including Citadel, Point72, and Two Sigma Investments, along with several private equity firms. 

Two Sigma, which manages $75 billion, says they were able to thwart the attacks.

"Our security team responded quickly to an attempted vishing campaign targeting Two Sigma and other investment managers, and we have no indication of any impact to our data or our systems," a spokesperson told BBG. "We continue to monitor the situation closely."

While we don't know if the hackers used AI, cybersecurity attacks targeting Wall Street firms have surged over the past year, as artificial intelligence tools allow for cheap, fast, and efficient attacks according to Align Managed Services president, Vinod Paul. 

"Before they could attack 50 entities in a targeted attack, now they can do 1,000," said Paul. "Hackers can also listen into a phone call and mimic the voice, tone and phrasings of the speakers to create fake calls."

In June, Google noted a wave of attacks this year against law firms and other professional service organizations - which also involved vishing, and people posing as IT workers to sneak into corporate offices. 

Finra is now involved...

The Financial Industry Regulatory Authority, which oversees broker dealers and securities professionals, has been in touch with member firms about recent attempted breaches, according to a separate person with knowledge of the matter.

Finra started the Financial Intelligence Fusion Center in March - a secure portal for Finra and its member firms to share intelligence about fraud threats and to help coordinate responses. That was in response to the increasingly sophisticated cyber and fraud threats that were being directed at financial services firms. -Bloomberg

"The terrifying thing about modern day AI systems is that they have commoditized this and made it possible to execute attacks at scale," said Will Wilson, the chief executive officer of Antithesis. "Everybody will have to seriously level up. Otherwise they are going to be in big trouble." 

Tyler Durden Wed, 08/05/2026 - 15:25

Former LAPD Officer Gets Life Sentence For Kidnapping Teen In $350,000 Crypto Robbery

Authored by Brian Danga via TheBlock.co,

Former LAPD officer Eric Halem was sentenced to life plus 15 years in state prison on Tuesday for his role in the December 2024 armed robbery of a 17-year-old in Koreatown, who was robbed of a hard drive containing $350,000 worth of bitcoin.

Los Angeles County Superior Court Judge Mildred Escobedo imposed the concurrent life terms for kidnapping and robbery after rejecting a last-ditch request by defense attorneys seeking a new trial, the Los Angeles Times reported. 

Halem had sought a new trial on grounds that his initial attorneys failed to call witnesses or examine key evidence.

However, Judge Escobedo denied that motion, noting that the evidence presented at trial showed Halem had acted out of "sheer and utter greed," adding that "there could've been no other conclusion."

During Tuesday’s sentencing, Escobedo noted Halem had preyed on individuals who “perhaps shouldn’t be seen as victims, because they were criminals themselves,” but that that didn’t excuse his actions.

To abuse his power, by masquerading as a police officer, “is heinous and egregious,” she said.

According to a district attorney's spokesperson, Halem must complete most of his 15-year sentence before serving the concurrent life terms and will be eligible for parole after seven years.

Halem was convicted in March following a two-week trial in which a jury found him guilty of kidnapping and robbery.

Prosecutors said Halem and three co-conspirators entered a high-rise apartment and forced the victim, identified in court as Daniel, to hand over the hard drive under threat of death.

Halem had left the LAPD nearly two years before the robbery but was still serving as a reserve officer at the time, according to the LA Times. 

He still faces pending charges in separate cases involving insurance fraud and another alleged crypto-related robbery, while his co-defendants have yet to stand trial, per the report.

Tyler Durden Wed, 08/05/2026 - 15:05

GTA VI Delay Fears Reignite As Ex-Rockstar Developer Says He "Would Not Be Shocked"

Speculation about a delay to Grand Theft Auto VI is spreading online after a former Rockstar Games developer said that, based on his experience working on previous installments, he "would not be shocked" if the game slips again. Another postponement would add to the previous delays and spark frustration among gamers who have waited more than 13 years for a fresh, updated version of the series.

Jake Brigstock of Indy100, a British digital news website, spoke with former Rockstar Games animator Mike York, via covers.com, about his confidence that Rockstar Games will be able to release GTA 6 by November 19 on PS5 and Xbox Series X/S.

York said he "would not be shocked at all" if there does end up being another GTA 6 release date delay.

"Personally after being there and working on GTA 5, I don't currently work there so I can't give a confidence based off that, but based on my previous experience, they could delay it again," said York.

"Straight up, they could delay it again. They can.

"They can do whatever they want and people will wait right now, it doesn't matter. If they need to do what they need to do, they'll do it.

"So if November comes around and they're thinking 'this final mission we have is still not looking very good, and there are still a few bugs in this final mission', they'll push it six more months if they have to.

"I would not be shocked at all. I don't think it would hurt them or anything."

Another delay would abosutely crush confidence in gamers whp've waited 13 year for another re-freshing of GTA.

Rockstar began taking GTA preorders on June 25. Take-Two Interactive Software, the owner of the gaming studio, has seen its stock meet heavy resistance at the $250 level since mid-2025.

Polymarket odds for "GTA 6 launch postponed again?" have yet to really move on Indy100's report that was posted on Tuesday.

//--> //--> GTA 6 launch postponed again?
Yes 11% · No 89%
View full market & trade on Polymarket

Odds stand around 11%.

Tyler Durden Wed, 08/05/2026 - 14:45

At Least Ten Agitators Arrested In Madison As Filthy 'Autonomous Zone' Is Dismantled

Authored by Debra Heine via American Greatness,

Authorities in Madison, Wisconsin on Tuesday sent in crews to clean up and dismantle the filthy and violent “autonomous zone” that was set up by left-wing agitators to protest the shooting of an armed violent felon. At least ten occupiers were arrested as of Tuesday morning, Fox 6 reported.

Repeat offender Corey Ruiz, 38, was shot by police on July 22 after allegedly attacking an officer with a knife.

Public records show that Ruiz had eight convictions for “resisting, obstructing, threatening or injuring police officers between 2007 and 2024,” according to Fox 6.

Five of those prior cases reportedly involved conflicts with City of Madison police officers.

After the shooting, activists, including Black Lives Matter members, quickly set up barricades using furniture, spike strips, and wooden pallets to occupy downtown Madison.

The Corey Ruiz Autonomous Zone (also known as CRAZE or “Corey Street”) was initially allowed by the woke mayor as a protest encampment.

The City of Madison even provided basic services, including portable restrooms and the use of salt trucks as street blockades. A homeless population quickly moved into the zone, creating a need for more services..

Mayor Satya Rhodes-Conway on Friday described the zone as “not sustainable or safe” but did not set a timeline for clearing it.

Meanwhile, Independent journalist Nick Sortor was threatened over the weekend by BLM agitators while reporting at the scene.

“Hurry up and leave before your life ends here,” an agitator told Sortor. “There’s a whole team of us.”

Cleaning crews were sent in early Tuesday morning after “CRAZE” had become a public health hazard. After the decision to remove the encampment was announced, the occupiers reportedly lit fires and threw rocks at the city workers.

The agitators clashed with city and state police who were sent to the scene to protect the crews.

The agitators blocked the streets near the encampment after it was cleared.

The occupiers eventually moved to the mayor’s decrepit house to wage a “noise protest” over her decision to shut down their “CRAZE.” They littered the mayor’s front yard with anti-police signs, deployed a megaphone siren and screamed at her through a bullhorn.

“The community ain’t get no sleep ’cause of you!” an agitator bellowed through the bullhorn. “We saw you sent your pigs out too!”

“You have blood on your hands!” the agitator cried.

Mayor Satya Rhodes-Conway said in a video statement Tuesday that the decision to clear the encampment at Williamson and Baldwin Streets was “not made lightly” and occurred only after nearly two weeks of failed attempts to resolve the situation voluntarily.

She urged the community to focus on “sustainable change” and accountability through official investigations rather than occupation, stating, “Holding government accountable for progress should not mean harming the community we all share.”

Tyler Durden Wed, 08/05/2026 - 14:25

Copper Tops $14,000 As US Stockpiling Drains Global Supply Ahead Of Trump's Tariff Call

Copper strength has returned to the London Metal Exchange this week as futures top $14,000 a ton. Another leg higher could be imminent, pushing prices into blue-sky territory as traders weigh tightening global supplies against robust metal inflows into the US ahead of President Trump's expected tariff decision.

The Commerce Department was expected to deliver its tariff recommendation by June 30, but no decision has been announced. On national security grounds, the agency is expected to impose import levies of up to 50% on semi-finished and derivative copper products under Section 232. The policy aims to protect domestic manufacturing and reduce foreign reliance, addressing supply chain risks from major exporters like Chile, Peru, and Canada.

Bloomberg reports more than 200,000 tons of copper flowed into US ports in July, the largest ever monthly inflow in data going back to 2014. High US prices have kept the trade profitable.

As a result, this has added to a massive hoard in U.S. warehouses and ports, while supplies in the rest of the world are dwindling.

LME inventories sank to a five-month low, while a widening backwardation signaled increasing pressure on near-term supplies. LME copper settled 1.4% higher at $14,066.50 a ton, while Comex futures rose as much as 2.3% to approach May's record high.

The tightening is visible in the LME forward curve. Nearby contracts traded at a $99.50-a-ton premium to three-month futures, up from about $30 a week earlier - the widest backwardation since January. This structure suggests pressure on short-term supplies.

Jefferies analyst Christopher LaFemina told clients earlier this summer that his team "wasn't bullish enough on copper," adding, "We now have the highest copper price forecast on the Street as we see strong US industrial demand and still tight supply."

Beyond Jefferies, HSBC, and Goldman, JPMorgan analysts have also told clients that the copper upcycle is being driven by a tightening supply backdrop, accelerating power-grid investment, AI data center demand, and broader industrial electrification. Taken together, some of Wall Street's top metals desks have warned about a sustained break above $14,000 on the LME.

However, Bloomberg macro strategist Michael Ball recently pointed out that a tariff disappointment, stronger dollar, or AI-led selloff would expose the growing bullish speculative bets on copper (read here).

Tyler Durden Wed, 08/05/2026 - 13:25

Middle East War Triggers New Global Refining Boom

Submitted By Tsvetana Paraskova of OilPrice.com

For the second time this decade, a war has upended global oil markets and sent oil prices and refining margins to multi-year highs, benefiting the world’s biggest oil companies and top refiners.

The war in Iran has tightened fuel supply as crude oil has struggled to move through the Strait of Hormuz, triggering reduced refining throughput in Asia and a temporary Chinese ban on exports. The fuel markets tightened even more than the crude market to send refining margins to record highs.

And the biggest refiners benefited from the new refining boom, with Big Oil reporting their highest second-quarter earnings since the previous outbreak of a war, the Russian invasion of Ukraine in 2022. The bumper earnings were driven not only by the jump in oil prices between April and June—the contribution of the refining and trading divisions was also fundamental for fueling the high profits.

Record Refining Margins

Despite the slump in crude prices and the extreme volatility in the past five months, the refined product market continues to tighten with refining margins at record highs because the supply of petroleum products is much tighter than crude supply.

Refining margins held at record highs even as crude oil prices soared to $100 per barrel and above. That’s because global gasoline, diesel, and jet fuel supply is tightening and has been tightening for months amid a combination of factors, most stemming from the wars in Iran and Ukraine.

Last month, refining margins for gasoline and diesel jumped to new record highs amid on-and-off escalation in the Middle East, Russia’s ban on diesel exports, and crumbling global fuel inventories.  

In a rare statement last month, Fatih Birol, the executive director of the International Energy Agency (IEA), said that “There is no room for complacency on oil security amid the escalation in hostilities and a continued drawdown of available commercial inventories.”

While assuring markets that IEA countries still hold more than 1 billion barrels of government-controlled stocks, Birol said that “Refinery activity and product supplies have not picked up as much as crude deliveries, meaning that markets for refined oil products, including diesel and gasoline, are considerably tighter than those for crude.”

Big Oil’s Bumper Profits

As a result of the tight fuel markets and soaring refining margins, the world’s biggest international oil companies reported their strongest earnings for the second quarter since at least 2022. They also expect refining to continue providing high earnings in the short term amid distorted fuel markets with restricted supply and refining capacity.

Shell, for example, more than doubled its second-quarter earnings from a year earlier, as higher oil and gas prices, record refinery utilization, and strong trading boosted profits to above analyst expectations.

Refinery utilization at Shell was 102% in April to June, compared with 99% in the first quarter of 2026, mainly due to lower planned and unplanned maintenance activities. Strong refining and chemical margins also boosted Shell’s earnings in the past quarter.

Shell’s global indicative refining margin rose to $24 from $17 per barrel in the first quarter, while the global indicative chemical margin doubled to $270 per ton, from $139 per ton.

“The operational performance of Refining has been excellent,” CEO Wael Sawan said on Shell’s earnings call.

TotalEnergies’ adjusted net income jumped by 68% from a year earlier to $6 billion for the second quarter of 2026 as the jump in oil prices and refining margins boosted earnings and cash flows.

The European Refining Margin Marker for the supermajor rose by 19% quarter-to-quarter and soared nearly threefold year-to-date compared to the first half of 2025, to $12.4 per barrel, up from $4.3 a barrel.

“Refining and Chemicals performed in an exceptional way leveraging market conditions, managing well the tensions on supply of refined products to maximize captured margins,” TotalEnergies CEO Patrick Pouyanné said on the earnings call.

The U.S. supermajors, ExxonMobil and Chevron, also reported their highest earnings in years, drawing criticism from U.S. President Donald Trump, who this week said they are making “too much money” and “They’re going to give some of that back to the public and they better cut the retail price, the consumer price.”

Chevron had record refinery throughput of over 1 million barrels per day for the second quarter, CEO Mike Wirth said on the earnings call on Friday.

“Middle distillates are really the tight spot right now. Initially, it looked like jet, now diesel,” the executive noted, saying that European diesel demand could soon start rising from relatively weak levels in Q2 amid restocking of heating oil ahead of winter.

“That lands on top of the export ban from Russia, refinery outages in Russia, the obvious constraints that exist in the Strait,” Wirth added.

China and its demand is a big unknown for the market now, but Chevron doesn’t see a significant scale of demand destruction, said the executive, adding “I think we're going to see some upward pressure on product pricing here into the third quarter and perhaps beyond that.”

Exxon’s CEO Darren Woods said the supermajor expects continued “very robust refining market with very high margins.”

Even if supply disruptions are resolved by the end of the year and crude and fuels flows from the Middle East are restored, low global inventories and the need to restock could support the global refining complex for a few more quarters.

Tyler Durden Wed, 08/05/2026 - 11:50