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Crypto Industry On Track To Surpass 2024 Spending On Texas Midterms

Crypto super PACs scored big in the 2024 midterms, backing 53 of 58 candidates who won seats in Congress nationwide - including four from Texas.

(Azul Sordo/The Texas Tribune, Azul Sordo/The Texas Tribune)

This cycle, the same groups are pouring money into a fresh slate of Texas contenders and are on track to exceed their 2024 spending levels in the state, according to KSAT. 

Two major PACs - Defend American Jobs and Protect Progress - have already committed more than $2.5 million to Texas candidates this year, according to the latest Federal Election Commission filings. Both are tied to Fairshake, the cryptocurrency industry’s massive super PAC war chest, which started 2026 with $193 million in cash on hand.

When combined with other crypto-aligned super PACs, the industry has spent at least $28 million on congressional races nationwide so far this cycle. At the same point in the 2024 cycle, those groups had spent roughly $22 million.

In 2024, Protect Progress was the primary crypto spender in Texas, dropping nearly $1 million to help Rep. Julie Johnson win her Democratic primary and general election. Overall, Protect Progress and three other crypto super PACs - including Defend American Jobs and Fairshake - spent a combined $2.5 million on Texas candidates such as Sen. Ted Cruz, Rep. Monica De La Cruz, and Rep. Craig Goldman.

Since the last midterms, Congress has passed major cryptocurrency legislation, including the GENIUS Act in July 2025 - the first federal regulatory framework for the industry, which passed with bipartisan support and was backed by crypto groups. Yet the industry’s sharp increase in political spending suggests it remains concerned about potential new restrictions.

Bills such as the Clarity Act, which critics argue would weaken oversight of crypto markets, are still under negotiation and could further shape policy.

"The fear is there’s going to be significant regulation on the part of Congress, and so [crypto PACs] want to find people who would be willing to at least listen to them," said Daron Shaw, a government professor at the University of Texas at Austin.

In Texas, nearly two-thirds of the crypto spending has gone to a single candidate: Rep. Christian Menefee. Fairshake’s progressive arm, Protect Progress, has spent more than $1.5 million to help Menefee defeat Rep. Al Green in a runoff for a Houston-area seat that covers much of Harris County. Green was drawn out of his original district in redistricting, while Menefee won a special election in January.

Green, a member of the House Financial Services Committee, has opposed key pro-crypto bills, including the GENIUS Act and the Clarity Act. He has also publicly criticized cryptocurrency’s potential to undermine U.S. sanctions and the environmental impact of crypto mining.

Menefee, by contrast, has embraced blockchain technology on his campaign site, saying it can "increase trust, transparency and efficiency" when paired with strong consumer protections. The industry group Stand with Crypto gave Menefee an "A" rating and Green an "F."

"When you get an ‘F’ that means they don’t like you," Green said on the House floor March 19. "When they don’t like you, they’ll do whatever they can … to expel you, to evict you."

Menefee, who holds a significant financial edge, told reporters he recognizes the widespread adoption of crypto and wants smart regulation to curb scams.

"Over 70 million Americans have crypto right now, and a lot of them are young, a lot of them live in Texas-18, a lot of them are Black and brown folks," Menefee said. "My job is to protect them, and you can’t protect people when you refuse to engage on an issue."

The race has also highlighted a generational split: Green is 78, while Menefee is 37. Menefee argues his generation is more open to emerging technologies like crypto and that lawmakers shouldn’t "bury [their] heads in the sand." Green did not respond to a request for comment.

On the Republican side, Defend American Jobs has spent roughly $771,000 supporting Jessica Steinmann, who is running to succeed retiring Rep. Morgan Luttrell in Magnolia. Steinmann, a former Trump administration official and aide to Sen. Ted Cruz, describes herself as a "strong supporter of digital assets, blockchain technology and financial innovation" that promotes economic freedom without stifling growth.

The same PAC has spent about $92,000 backing Chris Gober, a conservative attorney seeking to replace retiring Rep. Michael McCaul in Central Texas. Gober’s campaign emphasizes boosting technology investment and turning Austin and the Brazos Valley into "America’s center for innovation," though he does not highlight crypto specifically.

Defend American Jobs also spent approximately $141,000 on Trever Nehls - twin brother of Rep. Troy Nehls - who won the primary in a solidly Republican district outside Houston after his brother opted not to seek reelection.

Michael Beckel of Issue One, a nonpartisan group focused on reducing money in politics, noted that cryptocurrency was once a fringe sector but has rapidly gained influence.

"The cryptocurrency industry wants people in Washington and in state houses to be able to pick up their phone calls," he said.

Adam Green, co-founder of the Progressive Change Campaign Committee, said crypto super PACs were unusually effective in 2024 and appear set to repeat that success.

"Crypto was successful last cycle in being the only player on the block, and having a chilling effect on political leaders being willing to put any rules or guardrails," Green said.

Tyler Durden Sat, 04/25/2026 - 15:45

Federal Appeals Court Allows Texas To Enforce State Immigration Law

Authored by Matthew Vadum via The Epoch Times,

A divided federal appeals court on April 24 allowed Texas to enforce a state law that permits the arrest and prosecution of individuals thought to have unlawfully crossed the U.S.-Mexico border.

The U.S. Court of Appeals for the Fifth Circuit voted 10–7 to undo a 2024 injunction that had prevented enforcement of the law known as Senate Bill 4. Initially, the former Biden administration had challenged the statute, but the second Trump administration dropped the challenge in March 2025.

SB 4, which Texas Gov. Greg Abbott, a Republican, signed in December 2023, would make it a state-level crime to illegally enter or re-enter Texas from a foreign country, give state judges authority to order that violators leave the United States, and allow prison sentences ⁠of up to 20 years for those refusing to comply.

The Fifth Circuit did not address the merits of the case because it found that the groups challenging the law—Las Americas Immigrant Advocacy Center and American Gateways—lacked legal standing to do so.

Standing refers to the right of someone to sue in court. The parties must demonstrate a strong enough connection to the controversy before the court to justify their participation in a lawsuit.

The groups had argued that SB 4 was preempted—or superseded—by the federal Immigration and Nationality Act.

“This case concerns whether the State of Texas, exercising its historic, sovereign police powers, can legislatively protect its citizens from a surge of illegal aliens in response to an unprecedented border crisis and a declared invasion,” Circuit Judge Jerry E. Smith wrote for the majority.

“The [federal] district court judge and a divided panel held that it cannot. Because the Plaintiffs that are challenging the new statute lack standing, we vacate the [district court’s] preliminary injunction without addressing the merits of the preemption claim.”

The majority said SB 4 was enacted to respond to “widespread, illegal, disruptive immigration into the State,” including “more than 6 million illegal aliens, from over 100 countries,” including 100,000 unaccompanied minors, about 2,000 gang members, and 336 persons on the terrorist watchlist, who streamed across Texas’s international border from 2021 to 2023.

Circuit Judge Priscilla Richman filed a dissenting opinion, disagreeing with the majority’s decision to deny standing.

Las Americas Immigrant Advocacy Center, at least, would have standing to seek an injunction because if the preempted state law were to take effect, it would have to use its resources to represent clients in the state immigration system, she said.

Richman said she would have addressed the merits and upheld the district court’s injunction against the law.

“Federal laws on the books permit Texas to assist the federal government in apprehending illegal immigrants if the federal government so requests. But Texas cannot enact its own immigration regime,” she said.

A three-judge panel of the Fifth Circuit upheld the district court’s February 2024 injunction in July 2025, holding that SB 4 would have interfered with the federal government’s efforts to enforce the nation’s immigration laws.

Along the way, in March 2024, the U.S. Supreme Court briefly permitted the statute to take effect. Not long after, the Fifth Circuit panel temporarily blocked the law pending further review.

Later, the full Fifth Circuit agreed with Texas Attorney General Ken Paxton’s request to reconsider the case.

Paxton hailed the new ruling.

“My office has secured yet another major win for Texas by defending SB 4 before the Fifth Circuit,” Paxton said in a statement.

“Texas’s right to arrest illegals, protect our citizens, and enforce immigration law is fundamental. This is a major victory for public safety and law and order,” he said.

The Epoch Times reached out for comment to Las Americas Immigrant Advocacy Center and American Gateways. No replies were received by publication time.

Tyler Durden Sat, 04/25/2026 - 15:10

DOJ Re-Adopts Executions By Firing Squad As It Strengthens Federal Death Penalty

The Department of Justice on Friday directed the Bureau of Prisons to expand death penalty protocols to include pentobarbital injections and firing squads as part of broader actions to strengthen the federal death penalty, Fox News reports. 

"Today, the Department of Justice acted to restore its solemn duty to seek, obtain, and implement lawful capital sentences — clearing the way for the Department to carry out executions once death-sentenced inmates have exhausted their appeals," the DOJ memo obtained by Fox News read.

"Among the actions taken are readopting the lethal injection protocol utilized during the first Trump Administration, expanding the protocol to include additional manners of execution such as the firing squad, and streamlining internal processes to expedite death penalty cases," the memo read.

A chair sits in the execution chamber at the Utah State Prison on June 18, 2010, after Ronnie Lee Gardner was executed by firing squad in Draper, Utah. (Trent Nelson / The Salt Lake Tribune via AP

In addition to recommending the new methods of execution, the DOJ is also directing BOP to look into expanding the federal death row and constructing additional execution facilities.

Additionally, the DOJ also plans to consider a rule that will help states to streamline federal habeas review of capital cases which, if adopted, the DOJ says will reduce the period between conviction and execution in state capital cases by years. Death row inmates can often wait decades after receiving their sentence to face execution.

On President Trump's first day of his second term, he issued an executive order "to ensure that the laws that authorize capital punishment are respected and faithfully implemented." 

In 2025 the Trump administration rescinded a moratorium on federal executions instituted by former President Joe Biden's DOJ. Biden also commuted the sentences of 37 of the 40 death row inmates in December 2024, a move widely condemned by Republicans as dangerous but praised by Democrats as an act of justice and mercy.

The DOJ's Friday memo slammed the Biden administration. "The prior administration failed in its duty to protect the American people by refusing to pursue and carry out the ultimate punishment against the most dangerous criminals, including terrorists, child murderers, and cop killers," Acting Attorney General Todd Blanche wrote.

The federal government has never executed a person by firing squad, though some states still use firing squads to execute death row inmates at the state level. South Carolina carried out three firing squad executions in 2025. 

Pentobarbital is a central nervous system suppressant that many states use as a fallback to the standard three-drug cocktail for lethal injections. The Biden administration barred its use, arguing that it caused "unnecessary pain and suffering." The DOJ, however, claimed its use is in line with the 8th amendment, which states that cruel and unusual punishment is unconstitutional. 

"These steps are critical to deterring the most barbaric crimes, delivering justice for victims, and providing long-overdue closure to surviving loved ones," the DOJ memo read. 

 

 

Tyler Durden Sat, 04/25/2026 - 14:35

Mother Of NYC Thug Who Body-Slammed And Stomped Girl's Head Says He's The Victim

Authored by Steve Watson via Modernity.news,

A deranged mother is rushing to the defense of her 14-year-old son after he was filmed slamming a 15-year-old girl to the concrete and stomping on her head in East Harlem — all because she refused to give him her phone number.

The horrifying attack, captured on video and shared widely online, has left the victim hospitalized with a concussion. Yet instead of demanding accountability, the boy’s mother is painting her son as a victim of bullying.

The assault unfolded around 3:30 p.m. Monday at the corner of East 107th Street and Third Avenue, right after classes let out at East Harlem Scholars Academy Charter School, which both teens attend.

The video is so graphic that X is placing a content warning on it.

🚨15 year-old-black teen stomps on the head of a 14-year-old white girl— Why? Because she wouldn’t give him her phone number

No MSM outrage. No calls for change. No front page news coverage.

Imagine the outrage if this was a white male doing that to a black girl

Savage… pic.twitter.com/ZiLECIEZCX

— MJTruthUltra (@MJTruthUltra) April 23, 2026

As the boy confronted the girl on a crosswalk, he blocked her path and threatened, “I’ll knock the s**t out of you right now.” One of his friends egged him on: “Do it!”

The girl tried to get away, yelling, “Get the f*** away from me, p***y.” He followed, grabbed her from behind, lifted her, and slammed her to the ground before stomping on her head. He then strutted off as she lay motionless.

The 15-year-old victim suffered a concussion and spent two days in Harlem Hospital. Her mother, Lucinda Arroyo, called the attack “outright assault — and he could have killed her.” She added that her daughter is “lucky to be alive” and confirmed, “She’s not going back to that school … that school can’t keep her safe.”

The boy was arrested and charged with assault. He appeared in Manhattan Youth Court and was remanded into custody.

Yet his mother, Sealema Allen, came forward to defend him in comments to the media.

A mother whose teenage son was jailed for assault after he was filmed slamming a classmate to the ground and stomping on her face is coming to his defense https://t.co/lmTrPNCvTa 🔗 pic.twitter.com/4YNbWoEyZn

— Daily Mail US (@Daily_MailUS) April 24, 2026

“She was being a bully to him, that’s it,” Allen said. “She pushed him.”

Mom of the boy who stomped on girls head in NYC.

“She was being a bully to him, thas it.” https://t.co/BgbF1S4G64 pic.twitter.com/mctgqnE4BZ

— MJTruthUltra (@MJTruthUltra) April 24, 2026

She continued: “He’s been complaining about her. I bring it to the principal’s attention but he don’t address it. The way my son is being bullied, he doesn’t want to go to school.”

Allen described her son as a “quiet” and “humble Christian” boy who “don’t provoke nobody. But if you provoke him, he will lash out.” She insisted the attack was “retaliation because she pushed him first” and claimed the pair “are friends and text frequently,” denying any romantic advance.

It remains unclear why the charge for the attack was only second degree assault when the attack clearly could have killed the girl or left her with permanent brain damage.

This is not an isolated incident. New York’s charter schools and streets have seen repeated failures to protect students from exactly this kind of random, brutal violence. Progressive policies that treat teenage predators with kid gloves only embolden more attacks while victims and their families are left to pick up the pieces.

Real justice demands consequences that match the crime, not therapy sessions and light charges for acts that could easily have been fatal.

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

Tyler Durden Sat, 04/25/2026 - 14:00

Netanyahu Treated For Early Stage Cancer For 2-Years Without Telling Public

Via Middle East Eye

Israeli Prime Minister Benjamin Netanyahu has revealed he was treated for early-stage cancer but is now in "excellent condition".

Writing on X, Netanyahu said he had remained quiet about his health condition and delayed publication of his record so as not to provide "propaganda" opportunities for Iran.

via AFP

"A year and a half ago, I underwent successful surgery for an enlarged benign prostate, and since then I have been under routine medical monitoring. In the last monitoring, a tiny spot of less than a centimeter was discovered in the prostate," he said.

"Upon examination, it turned out to be a very early stage of a malignant tumor, with no spread or metastases whatsoever."

Israeli prime ministers are expected to release regular reports on the state of their health and Netanyahu's decision not to do so has come in for scrutiny.

The 76-year-old added that he had "overcome" the illness, pointing out that "when I'm given information in time about a potential danger, I want to address it immediately".

Vladimir Beliak, an MP for the opposition Yesh Atid party, criticized Netanyahu's decision not to publish his health report, comparing it to the reasoning he previously used to delay his ongoing corruption trial.

"'It is impossible' to establish a state investigation committee because there is a war. 'It is impossible' to conduct a criminal trial because there is a war. Now it turns out that 'it is impossible' to publish a medical report and report on cancer because there is a war," he posted on X.

"There is so much benefit to the regime in waging an eternal war, and perhaps at the next stage we will hear that 'it is impossible' to hold elections because there is a war. Not going to happen. It is time to stop Netanyahu's farce, which threatens our existence here."

Since the beginning of the US-Israeli war on Iran on February 28, Netanyahu's health has been speculated on a number of times.

Netanyahu says he beat early-stage prostate cancer
——
Israeli Prime Minister Benjamin Netanyahu said on Friday that he had undergone successful treatment for early-stage prostate cancer, though he did not indicate when the procedure took place.

In a statement shared on social… pic.twitter.com/IaUJm2RkWn

— The Cradle (@TheCradleMedia) April 24, 2026

Iran responded to the attacks with missile strikes, and soon after rumors began to circulate that the prime minister had died. Videos released on social media that aimed at dispelling the rumors did little to stem the tide. His appearance in front of journalists on March 19, however, put the rumors to rest.

Tyler Durden Sat, 04/25/2026 - 12:50

Total Internet Blackout In Iran Hits 8 Weeks As Citizens Left In Dark About War's Future

The near-total internet blackout in Iran has "now entered its 57th day after 1344 hours," internet watchdog NetBlocks has said.

The restrictions followed renewed anti-government protests in early January and intensified after the start of the US-Israel war on Iran at the end of February, and during which time leaders in Washington and Israel have signaled they seek total societal collapse and government overthrow in the Islamic Republic. This has left many of Iran's some 95 million citizens scrambling for information on what comes next concerning war and negotiations.

NurPhoto via AP

"Exactly eight weeks have passed since 28 February when Iran was placed under a regime-imposed internet blackout," NetBlocks continues.

The heavily restricted internet has disrupted jobs and businesses nationwide, and has seen some citizens temporarily cross borders or else flee the country entirely just to access better communications.

This is particularly at the porous border with Turkey, for people able to get in and out, according to one report based on an on the ground interview:

Dazed by the sun and tired by more than a dozen hours of travel by bus, the woman from Tehran, Iran's capital, crossed into eastern Turkey.

Her first stop? Somewhere with Wi-Fi.

"I only want to make a video call and go back [to Iran.] That is it," she told NPR.

For the last month, she has been making the hours-long drive to Iran's border with Turkey every three days in order to use the internet for a few hours to contact her son, who is studying at a university in western Turkey.

The US state-funded publication NPR continues:

"The only voice is the voice of the Iranian regime now, because they have cut the internet. They have shot our voices and cut our tongues," a second Iranian woman told NPR, while traveling in eastern Turkey.

Some can afford to buy precious minutes of Wi-Fi or phone time from a black market of Starlink bandwidth and phone SIM cards, but many Iranians say the connections are glitchy, unable to load most web pages and social media sites.

And so, for Iranians with the means to travel, there is one other option for internet: to travel to another country.

🗓️ Exactly eight weeks have passed since 28 February when #Iran was placed under a regime-imposed internet blackout.

The disruption, now entering its 57th day after 1344 hours, stifles the voices of Iranians, leaves friends and family out of touch and damages the economy. pic.twitter.com/XGQATa9rY8

— NetBlocks (@netblocks) April 25, 2026

A whole 'internet access black market' has arisen based on finding loopholes and workarounds.

We previously featured an investigative story which said Telegram remains one of the most widely used apps in Iran. People use it for news, communication and everyday life. Now, it has also become a place where VPN sellers advertise their services.  Access to the internet has become expensive, unreliable and uncertain. But it's a familiar pattern. In recent years, cutting internet access has become a common response by authorities during times of crisis - whether protests or external conflict. 

Tyler Durden Sat, 04/25/2026 - 12:15

White House Confirms Trump To Address Memecoin Gala Tonight

Authored by Jesse Coghlan via Cointelegraph,

The White House has reportedly confirmed that US President Donald Trump will attend the exclusive event for top TRUMP memecoin holders at his Florida residence on Saturday, after questions were raised earlier this month over whether he would attend.

Reuters reported on Friday that the White House confirmed Trump would deliver a keynote address at the gala luncheon organized by the company behind his Official Trump (TRUMP) memecoin.

The gala is set to take place at Mar-a-Lago. It will be open to the top 297 holders of the TRUMP token, and the top 29 holders will also qualify for a private reception with the president.

When the event was announced in March, a White House official told Politico that it was not locked into Trump’s schedule and that it was taking place the same day Trump said he would attend the White House Correspondents’ Association Dinner in Washington, DC, the first time he would do so as president.

Trump, pictured at a Turning Point USA event on April 17, is confirmed to be addressing an event for holders of his memecoin on April 25. Source: The White House

The event’s terms also state that Trump may not be able to attend the event, and it “may be canceled for any reason.”

Trump’s potential attendance at the event has been a sticking point for some lawmakers, who have criticized the event as a conflict of interest for the president.

Earlier this month, Democratic Senators Elizabeth Warren, Richard Blumenthal and Adam Schiff reportedly sent a letter to Bill Zanker, the individual behind the TRUMP memecoin, questioning whether Trump intends to “dangle access” to himself at the upcoming event.

“[O]rganizers are promoting a conference by dangling access to President Trump to potential attendees (and in doing so, are encouraging purchases of his meme coin that will generate transaction fees for the President and his family) on a day he may not actually be able to attend,” the letter said.

It is the second event for holders of the TRUMP token. The first took place at a Trump golf club in May 2025 and drew criticism from those who said Trump was using his position as president for personal financial gain.

Tyler Durden Sat, 04/25/2026 - 11:40

Trump's SWIFT Hint And The Decline Of The Euro

Submitted by Thomas Kolbe

In a post on Truth Social, US President Donald Trump indicates the imminent return of Russia to the SWIFT payment system. It would mark the end of sanctions against Russia. But the Prussians are not shooting that fast anymore.

Currency policy is geopolitics. This is especially true as soon as the US dollar is involved. And that is almost everywhere and at any time on the globe, no matter how often European and Chinese media sound the death knell over King Dollar. It may specifically be an annoyance to European politics and Beijing, but for the time being the US dollar remains the world’s leading and reserve currency, giving the United States the leeway to defend their market dominance while rolling their debt burden relatively smoothly into the future. 

Washington is working under high pressure not to let this monetary configuration change, at least for the moment.

In this context, one must interpret the Truth‑Social post by US President Donald Trump from the weekend: Trump indicated in a video that Russia is ready to return to the US‑regulated global financial system SWIFT.

In essence, Trump is saying that Russia has understood that SWIFT and the dollar represent the future – not the dream of a BRICS currency. Indeed, one has heard little from the BRICS project in recent years; it seems the two main actors, China and Russia, are failing to anchor a currency system that ultimately depends on the monetary credibility of Beijing and Moscow. Who would really be willing to hold large portfolio shares and cash reserves in a Chinese CBDC that is exposed to Beijing’s political whims?

Back to Truth Social: it is well known that the US president often behaves erratically in his media work. Yet this posting still offers an important clue as to the strategic line of American currency policy.

It is quite possible that the meeting of the two presidents, Donald Trump and Vladimir Putin, last year in Alaska marked the visible beginning of a gradual coordination of currency and energy policy between the United States, Russia and China. It fits this narrative that the US is again and again permitting Russia the sanction‑free sale of its oil in recent weeks and thereby signaling above all to Europe: ARC is real – America, Russia and China are coordinating their activities, not least on the energy markets.

And the strategy is lying quite openly on the table: in the context of the Iran conflict and precisely at a moment of scarcity on the energy markets, Washington granted Russia the sanction‑free sale of its oil through the sales channel of its shadow fleet. US Treasury Secretary Scott Bessent extended this special arrangement last week for another month in order to relieve pressure from the oil and gas price cauldron. That turns the spotlight on the question of how energy is factored globally, and which currency dominates. At this point, the full power of the dollar empire unfolds.

The lion’s share of invoicing is, of course, carried out in US dollars; somewhat more than eighty percent of global energy trade runs in US dollars.

The creditworthiness of the United States is still beyond doubt. And demand for US government bonds is currently higher than ever. The largest purchases of US government debt come from Great Britain, the EU and Japan. All three seek to ward off possible dollar shortages in a crisis. If flight to the greenback takes hold, these flows drive currency costs through the roof.

In addition, the attempt by European politics to use its own Euro currency to push into a potential vacuum left by the US dollar has failed. The ill‑considered power‑political escapism of Brussels and London prevented them from using the global bond markets via the euro lever as a kind of dumping ground for the enormous state debts of European countries.

In Europe, one has shot oneself in the knee 20‑times in a row with a torrent of sanctions packages against Russia, possibly once even in the head. Moscow was the dominant international customer whose energy transactions were willingly settled in euros, thus stabilizing demand for the common currency. Russia settled its entire gas trade with Europe in euros. But this is history.

The idea of the euro as a leading currency is now history; after European policymakers decided to put their economies on renewable “flutter power,” there is no turning back. Ideology has consequences, and this is particularly true for the currency market, which prices in national risks faster than others. For about three years now, the role of the euro in the international currency system has been eroding – slowly but steadily. Looking at a bloodless, over‑regulated and no longer internationally competitive European industry, this trend is unlikely to reverse in the foreseeable future.

At this point I want to restate my thesis from last year: the US dollar as the world’s reserve and leading currency will survive even during the transformation phase towards a multipolar order. At the same time, a new trade and negotiating balance will emerge between the United States and China. The fact that the United States will not be used as a pawn by Beijing in the future will be secured by the reordering of the Middle East, including control of the world’s most important maritime choke point, the Strait of Hormuz. The coming weeks and months will show who will dominate the geopolitical chessboard in this multipolar world.

For Europe there is one certainty: energy prices will, in the long run, settle on a higher plateau, ushering in an extended phase of inflation and industrial contraction.

About the author: Thomas Kolbe, a German graduate economist, 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 Sat, 04/25/2026 - 10:30

Germany's Debt Spiral Warning Ignored As Berlin Doubles Down On Spending

Submitted by Thomas Kolbe

Finance Minister Lars Klingbeil is a sensitive character. Such personalities tend to react irrationally and extremely defensively to criticism. They are prone to resentment and quick retaliatory reflexes.

So it was only a matter of time before the Federal Court of Auditors, too, felt the cold anger of the thin-skinned Social Democrat. Late last year, criticism from the auditors was promptly followed by a budget cut imposed by the Finance Ministry. The move was meant as a public warning shot across the bow of the recalcitrant watchdog, which traditionally plays the role of post-mortem critic. This comes with the unpleasant habit of describing the state of public finances as they actually are — not as Berlin prefers to imagine them.

The Court’s budget was subsequently reduced from €52 million to €47 million, officially on efficiency grounds. What Klingbeil failed to achieve, however, was to silence the auditors entirely.

It has become a bad tradition: as in every year, the Court again warned of an ever-accelerating debt spiral and a fiscal policy that appears to have lost all restraint. The state is living beyond its means, said President Kay Scheller. On the contrary, one might reply: this state is living beyond our means.

The current draft budget foresees total spending of €630 billion, with nearly every third euro financed through borrowing. By 2029, another €850 billion in new debt is planned — pushing visible public debt to €2.7 trillion, or roughly 67% of GDP.

Unfortunately, the Court’s analysis of debt dynamics remains superficial. In its assessment, however, it aligns with recent criticism from the Ifo Institute.

Both institutions criticize how the state handles new debt. We know from Ifo analysis that roughly 95% of the funds from special off-budget vehicles have been diverted to cover deficits across various layers of the welfare state. Germany is not investing — and the private sector is now running on negative net investment, effectively consuming its capital base.

Dig deeper into Germany’s debt swamp and it becomes clear why Berlin consistently avoids the issue.

A recent Ifo paper calculated non-contributory benefits in the statutory pension system. Economists concluded that these hidden costs could amount to as much as 50% of GDP in the long run. This explains why the overstretched state apparatus now acts merely as a firefighter, no longer capable of maintaining infrastructure. Even Scheller’s call to raise the public investment ratio from 8% to 10% is unlikely to materialize.

One can almost be grateful that the Court of Auditors is among the few institutions still attempting to describe the fiscal reality. Yet even it avoids addressing the root causes — deindustrialization, overstretched public finances, and structurally broken budgets at all levels of government. Unsurprisingly, Scheller and his team also steer clear of politically sensitive issues such as open-border policies, which are pushing the welfare state toward implosion.

There is no mention of the costs of the self-destructive Ukraine war, nor any call to halt funding for the sprawling NGO complex or dismantle the green subsidy machine.

The debate misses the core issue. The state is operating an unlimited welfare machine while committing itself to building eco-socialist economic structures. Under such conditions, a return to a lean state is impossible.

Those calling for a return to sound fiscal policy without naming the underlying causes only make it harder to reverse the ideological crash course. Their superficial criticism suggests that the current trajectory can be maintained with cosmetic reforms. The design of the state itself is not to be questioned.

Pressure for change will only arise when rising public debt — largely financed through new bond issuance — drives up refinancing costs. If bond markets eventually turn against Germany’s debt binge, the European Central Bank will likely step in as lender of last resort, pushing inflation sharply higher.

Already, around 8% of federal spending goes toward servicing interest on the growing debt pile.

Meanwhile, the government has outlined how it intends to deal with the incoming debt crisis — by targeting households. Family co-insurance in public health care will be scrapped, as will income splitting for married couples. Inheritance taxes will be broadly increased, and expect debate over a wealth tax alongside significantly higher social security contributions.

Extraction via the CO₂ mechanism will intensify, and wealthy individuals and capable businesses will leave the country. This is not a theoretical scenario but the result of a political relapse into socialist ideology. The spiral of impoverishment is accelerating.

About the author: Thomas Kolbe, a German graduate economist, 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 Sat, 04/25/2026 - 09:20

Global Inflation Scare: Chinese Exporters Hike Prices As Iran War Triggers Ethane Shortage, Plastics Crunch

Chinese exporters are finally passing on the pain - right as they're experiencing a major shortage of a key industrial material. After years of cutting prices amid overcapacity and cutthroat competition, manufacturers are now raising prices on everything from swimsuits and ski suits to medical syringes and air conditioners. The culprit: the Iran war’s energy shock, which has sent oil-linked input costs skyrocketing and is now rippling straight through to global store shelves.

Customs data compiled by Trade Data Monitor and analyzed by Bloomberg reveal sharp year-on-year price jumps in March across more than a dozen categories of household goods - the first sustained reversal in a disinflationary trend that had helped keep a lid on inflation from the U.S. to Europe for nearly three years.

"I held off raising prices for as long as I could in March, but in the end I had no choice," said Pang Ling, sales manager at a Shanghai-based medical catheter maker. "I panicked watching plastic costs climb almost every single day."

Products reliant on rubber, plastic, and oil-derived chemicals were hit hardest. Syringes saw prices surge as much as 20%. Synthetic-fiber goods - including swimsuits, women’s trousers, and ski suits - rose in the low- to mid-single digits as polyester and fiber suppliers hiked prices daily. Home appliances faced a double squeeze from higher metals and semiconductor costs. Even as some sectors like toys cut prices under weak demand, the broader picture is clear: the era of ultra-cheap Chinese goods is ending.

The numbers tell the story. China’s export prices had been falling steadily since May 2023, shaving an estimated 0.3–0.5 percentage points off headline inflation in advanced economies, according to Capital Economics. That buffer is now vanishing. Bloomberg Economics says above-3% inflation in 2026 is "back in play" across the euro area, U.S., and U.K. - a dramatic reversal from pre-war forecasts of cooling prices. Goldman Sachs expects overall Chinese export prices to turn positive as soon as March data, due out around April 25.

A 10% rise in oil costs typically lifts Chinese export prices by about 50 basis points over the following year, with the peak impact hitting four to five months later, Goldman estimates. The full effect hasn’t hit consumers yet - many March shipments were ordered weeks or months earlier - but the pipeline is filling with higher costs.

The Ethane Shock: Why Plastic Prices Are Set to Soar

Nowhere is the pressure more acute - or more politically explosive - than in plastics.

As we noted earlier this week, China is facing a severe ethane shortage that is about to supercharge costs across the entire plastics supply chain. Ethane, a natural gas liquid, is the primary feedstock for producing ethylene, the essential building block for plastics used in everything from medical catheters and syringes to clothing fibers, packaging, and consumer goods.

For years, China relied heavily on naphtha and liquefied petroleum gas (LPG) from the Middle East. In February, just before the war, more than 50% of China’s naphtha imports and over 40% of its LPG purchases came from Persian Gulf nations. That supply line has now been severed for as long as the Strait of Hormuz remains blocked. China holds massive strategic petroleum reserves - 1.5 billion barrels of crude - but it has virtually no stockpiles of naphtha or ethane. Its petrochemical industry is suddenly, dangerously exposed.

The International Energy Agency warned last week that “petrochemical feedstocks display the most immediate effects of the war by far,” with Asian supply chains thrown into “disarray.” Naphtha-fed crackers still account for 57% of China’s ethylene capacity, compared with just 16% for ethane-based units.

Desperate for alternatives, Chinese petrochemical producers are turning to the United States in record volumes. Shipments of U.S. ethane are expected to hit an all-time high of 800,000 tons in April - roughly 60% above the monthly average - according to Chinese consultant JLC. Some crackers can switch to ethane, helping offset the naphtha and LPG shortfall.

But this lifeline comes at a steep and rising price. Ethane has become the preferred feedstock because it is cheaper and more stable than crude-linked naphtha right now - profits from ethane-based ethylene were tenfold those of naphtha as of April 15, JLC data show. New capacity, including Wanhua Chemical Group’s ethane unit and Sinopec Ineos’s multi-feed cracker, has also boosted demand.

A tanker docked at liquid petroleum gas-ethane storage tanks. Photographer: Nathan Laine/Bloomberg

The result? Polyvinyl chloride (PVC) - Pang’s key input - surged as much as 80% in March from pre-war levels and remains about 50% higher even after a partial pullback. With naphtha alternatives cut off and ethane imports surging, plastic resin and downstream product prices are poised to climb sharply in the coming months. Competition and weak domestic demand may limit how much Chinese firms can pass on, but the input-cost pressure is now structural, not temporary.

The timing adds a geopolitical layer. China’s buying spree comes just weeks before President Donald Trump’s planned mid-May visit to Beijing. U.S. energy exports are expected to feature prominently in talks — especially if the Iran conflict drags on. One year ago, during the height of U.S.-China tariff tensions, analysts openly debated the mutual dependencies: America’s need for Chinese rare earths versus China’s near-total reliance on U.S. ethane for its plastics industry. 

Tyler Durden Sat, 04/25/2026 - 08:45

EU Ministers Fail To Suspend EU-Israeli Cooperation Agreement; Germany Calls 'Inappropriate'

Via Remix News,

A move to end the EU-Israel Association Agreement has been struck down, led by objections from Germany, Austria, and Italy. The accord, in existence since 2000, has served as the framework for EU-Israeli relations pertaining to both trade and foreign policy, with a key pillar being Israel’s access to the markets of EU member states.

13 October 2025, Berlin: The flags of Israel, the EU and Germany fly in front of the Berlin House of Representatives. Following the release of the hostages held in Gaza, the House of Representatives also raised the flag of Israel as a sign of solidarity with the state of Israel and its people. Photo: Jens Kalaene/dpa (Photo by Jens Kalaene/picture alliance via Getty Images)

Last week, Spain, Ireland and Slovenia wrote a letter to the EU High Representative for Foreign Affairs Kaja Kallas, citing Israel’s decisions by Prime Minister Benjamin Netanyahu, as well as laws passed by its parliament and actions taken by its military.

It cited, most recently, the death penalty approved by the Israeli parliament as evidence of “systematic persecution, oppression, violence and discrimination exerted against the Palestinian population.”

“In such a grave situation, we call on the European Union to uphold its moral and political responsibility, and to defend the very core values that have underpinned the European project since its foundation,” they wrote.

Going even further, the letter highlighted that Israel has essentially broken its agreement with the European Union. “Not only a grave violation of fundamental human rights, but also a step backwards in Israel’s commitment to democratic principles, as underlined by your March 31 statement, and therefore a violation of Article 2 of the EU-Israel Association Agreement.”

Spain has cited Article 2 for more than two years to take action against Israel and attempt to invalidate the agreement.

“Bold and immediate action is required, and all actions must remain on the table. The European Union can no longer remain on the sidelines,” the letter concluded.

However, the ministers gathered at the  Foreign Affairs Council meeting in Luxembourg ultimately rejected the proposal.

German Foreign Minister Johann Wadephul called any move to suspend the agreement “inappropriate,” reports Politico, joined by his Austrian counterpart in a push for “critical, constructive dialogue.” 

Before the meeting, Italian Foreign Minister Antonio Tajani told reporters that “There are neither the numerical nor the political conditions” for such a measure to be taken.  

A partial suspension requiring majority approval would also not have passed, given Italy and Germany’s objections. According to Politico, Kallas did raise the possibility of targeted measures that do not dismantle the wider trade agreement and do not require unanimity, with Tajani reportedly supporting her on this. “I believe it is better to sanction individually those responsible, I am thinking of violent settlers,” he stated.

Tyler Durden Sat, 04/25/2026 - 08:10

Interceptor-Drone Arms-Race Emerges

The next type of aerial system likely to be stockpiled at scale by militaries worldwide is the interceptor drone. We've already seen early evidence of this across Eurasia, with Ukraine selling its interceptor drones to the highest bidder.

The Russia-Ukraine war accelerated the development of cheap one-way attack drones. Early in the war, missile interceptors used by Ukraine were too costly and drained the stockpiles of Western militaries at dangerous rates.

The proliferation of cheap interceptor drones levels the playing field and provides a low-cost solution against Russian-produced Geran and Iranian-designed Shahed attack drones.

Ukraine's interceptor drones are emerging as a cheap solution, costing roughly $1,000 to $3,000 each versus about $4 million for a Patriot missile used to down $20,000 Shahed drones. In the economics of war, this mismatch matters because missile use, especially in the U.S.-Iran conflict, has already outstripped the U.S.' annual production capacity.

Ukrainian President Volodymyr Zelensky has previously stated that Ukraine can produce at least 2,000 interceptors per day and could double that with more investment, supplying another 1,000 daily to allies.

First, we are capable of producing at least 2,000 effective and combat-proven interceptors every day. We can produce more – it depends on investment. We need about 1,000 interceptors a day, and we can supply at least another 1,000 a day to our allies.

Second, we know how to… pic.twitter.com/vIB2qRho8P

— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) March 17, 2026

This comes as Zelensky has emerged as a "Lord of War," with Ukraine pitching its highly developed, low-cost drones and robotic warfare technology to the highest bidder.

According to war blog UNITED24 Media, these are the four main interceptors Ukraine is offering to its allies around the world:

P1-SUN, by Skyfall

The most publicized yet is the P1-SUN, a Ukrainian play on words referring to its phallic bullet shape.

Created by SkyFall, it's a high-speed drone designed to take off vertically. At a speed of between 300 km/h, typical, and 450 km/h for its upper estimate, it's one of the fastest drones on the market, able to take out the most common models of Shahed-136 that cruise at roughly 185 km/ hour.

However, the new jet-powered Shahed-238, which can reach up to 550-600 km/h, can prove much more difficult to stop in the long run. The P1-SUN can reach an altitude of up to 5 kilometers. It is also guided by a pilot and has optional AI-assisted targeting.

The drone costs roughly $1,000 to produce and can carry a small modular charge, depending on the needs and the target. The company estimated it could manufacture up to 50,000 interceptor drones a month and export 5,000 to 10,000 without hampering local needs, Reuters reported.

As of March, SkyFall appears to be the clearest large-scale commercial player, described by Reuters as a major drone maker, with the P1-SUN interceptor among the main anti-Shahed systems now drawing foreign demand.

STING, by Wild Hornet

The STING, produced by Wild Hornet, is also a serious contender for international exports. Also bullet-shaped, the STING looks roughly the same as the P1-SUN, with its four high-trust motors, designed to maximize forward acceleration but not hover efficiency.

Tuned to outrun Shahed drones, this model has a proven speed of roughly 280 km/h, can reach up to 7 kilometers in altitude, has a range of up to 37 kilometers, and has an endurance of up to 15 minutes, the company says.  

The interceptor can be guided by a pilot and, through AI, automatically lock the target during its final phase. The model has a daylight and a thermal camera, allowing it to detect Shahed engine heat at night. It can hold some warheads weighing 500 grams, according to the company.

Combat-proven and priced between $1,000 and $2,500, it's cheap and scalable, producing 10,000 units or more per month, says the company representative.

STRILA, by WIY DRONES

The STRILA, described by its manufacturer, WIY DRONES, as a "rocket-type air-defense" interceptor despite its four motors, can reach speeds of over 350 km/h and, during testing, was accelerated to 400 km/h, the company said.

The interceptor is reportedly capable of operating at a distance of up to 14 km in tactical mode and covering up to 28 km at maximum range, reaching altitudes of up to 4 kilometers.

Its latest Strila system version features a communication system that enables operation without GPS and increases resistance to electronic warfare jamming.

The operator can now also switch communication channels during flight. The daytime and night cameras have also been upgraded.

The company says it is currently manufacturing about 100 interceptors per day, has begun serial deliveries under government contracts, and cut the unit price to roughly $2,300 in January 2026.

Zerov-8, by The Fourth Law

The Fourth Law recently unveiled the Zerov-8, a vertical takeoff and landing interceptor that can turn mid-flight horizontally, resembling a small quadrimotor airplane.

Compared to the P1-SUN and the STING, it trades agility for efficiency and range, with a 20-kilometer radius, the company says. It can reach a maximum speed of 326 km/h, making it slower than its quadcopter challengers but more efficient in cruise mode during horizontal flight.

Its core feature? An AI-based detection and tracking module that allows it to identify Shahed, track them autonomously, and guide the interceptor on its own during its terminal phase before impact, according to the company.

The Zerov-8 can carry a 0.5 kg warhead and thermal cameras, but the company didn't disclose its price, as it's still at an experimental state.

Octopus, by Project OCTOPUS

The Octopus, a high-speed quadcopter interceptor, has a maximum speed of 300 km/h, a combat radius of roughly 30 km, can reach up to 4.5 kilometers in altitude and has an endurance of 15 minutes with a payload of 1.2 kg, Ukrainian military-tech company TAF Drones Industries said.

Thanks to its automatic terminal guidance module and AI image recognition, it can pick a target and finish it off without pilot output, according to the Royal United Service Institute (RUSI).

Ukraine and the UK were set to begin the joint production of 1,000 Octopus interceptor drones per month starting in February 2026, Ukraine's former Defense Minister Denys Shmyhal announced in January. The drones themselves were presented in London by Zelenskyy in late October 2025.

Separate from Ukraine, war news outlet Defense Blog has revealed that Russia has "begun front-line deployment of the fixed-wing Lys-2 counter-drone interceptor after a test phase, distributing it directly to combat units."

Russia has begun deploying the Lys-2 counter-drone interceptor to front-line units, marking a move from testing to operational use.

Read more: https://t.co/R9kInuTN35 pic.twitter.com/CFuJLTvJhj

— Dylan Malyasov | 🧐 (@DylanMalyasov) April 20, 2026

Not to be the bearer of bad news, but stopping the rise of 'Skynet' looks nearly impossible at this point.

• Ukraine Becomes World's AI Weapons Laboratory

Russia's deployment of next-generation counter-drone interceptors highlights the hyperdevelopment now underway in low-cost aerial warfare, where both interceptor drones and Shahed-style one-way attack drones are increasingly likely to be stockpiled by the millions across the world's militaries.

Tyler Durden Sat, 04/25/2026 - 07:35

The EU 'Democracy Shield' Is The End Of Freedom In Europe

Via Remix News,

The year 2026 will go down in the history of European integration as a special moment. The European Union, under the banner of protecting democracy, has begun systematically restricting freedom of speech and real political pluralism. Thus, it embarks on the well-trodden historical paths of every authoritarian regime, resorting to violence and censorship as public support wanes.

A report recently published by the Ordo Iuris Institute leaves no doubt: we are dealing with a project for a profound overhaul of the public sphere that will primarily target conservative communities, including Catholics.

Jerzy Kwasniewski, the head of the conservative institute Ordo Iuris. (AP Photo/Czarek Sokolowski)

The new EU mechanisms, ironically referred to as the “Democracy Shield,” are not a single piece of legislation. This is a coordinated regulatory system—from the Digital Services Act (DSA), through codes of conduct on “hate speech” and “disinformation,” to the regulation on political advertising. Their common denominator is the now-official departure from the European cult of free speech and its replacement with a system of preventive restrictions, in the name of… true freedom and democracy.

The European Commission claims that its aim is to create a “safe” information space in which “reliable” messages are meant to dominate, that is, in practice, narratives aligned with the liberal consensus . The problem is that the criteria for the EU’s “credibility,” for what is considered prohibited “disinformation,” and—what is particularly harmful—”divisive speech” are extremely vague and prone to ideological interpretation. As a result, it will not even be independent courts, but online platforms cooperating with non-governmental organizations selected by Brussels that will decide what content may reach citizens of the European Union. Including Polish citizens.

This system is multi-stage. First—mechanisms for reporting and removing content that, in practice, incentivize rapid takedowns, even at the expense of freedom of expression. Secondly—a labeling system under which statements labeled as “unverified,” “misleading,” or “political” are subject to mandatory restrictions on platforms such as Facebook or X. Thirdly—there is to be algorithmic intervention that limits the reach of content deemed problematic.

It is worth emphasizing the role of so-called trusted flaggers and fact-checker networks. It is precisely these entities, often financed with public funds from the European Union or the Member States and ideologically uniform, that gain a privileged position in the content moderation process. In practice, this means cleverly delegating censorship to entities that are not subject to any democratic oversight.

Even more troubling are the regulations concerning political advertising. The definition of “political speech” has been framed so broadly that it encompasses not only the activities of political parties but also public awareness campaigns concerning the protection of life, the family, or national identity. This means that Catholic pro-life organizations or movements defending marriage as the union between a woman and a man may be subjected to restrictive requirements and even sanctions. Even now, our own Ordo Iuris Institute and Center for Life and Family, as well as our friends from Polonia Christiana’s PCH24 news portal and their editorial team should start preparing to implement a “replacement language.” The censorship game, well known here in Poland from the communist era, is making a comeback.

At the same time, restrictions on the targeting and funding of political messages make it much more difficult to reach voters. In practice, the largest platforms, such as Facebook, have already stopped running “political” ads to avoid legal risk. It is no longer possible to freely promote petitions opposing abortion or same-sex unions there.

The Polish political context cannot be ignored. The introduction of these instruments specifically in 2026, just before the crucial parliamentary campaign in Poland, is no coincidence. Restricting the reach of conservative speech, making it harder to organize public-interest campaigns, and selectively labeling content as “problematic” will have a real impact on election results.

From the perspective of socially engaged Catholics, this is particularly dangerous. Unequivocal assessments concerning the protection of life from conception, the indissolubility of marriage, the condemnation of the aberrations of gender ideology, and even clear support for national sovereignty within the European Union will increasingly be classified as “controversial” or “divisive.” In the new regulatory model, such content may be restricted not directly—through a ban—but through invisible mechanisms of reach reduction and stigmatization.

This does not, of course, mean that the state has no right to combat crimes online or to protect citizens from real threats. The problem is that the European Union has crossed the line between protection and control, between security and social engineering.

Therefore today, more than ever, courage is needed to defend freedom and the right to publicly proclaim one’s faith. Not as a privilege for the select few, but as the foundation of a healthy society. If we allow, under the pretext of combating “disinformation,” the voices of those who defend life, the family, and sovereignty to be curtailed, democracy will quickly become a grim dictatorship hidden behind a facade of apparent diversity and tolerance.

Tyler Durden Sat, 04/25/2026 - 07:00

IRGC Seizes Ship With Witkoff-Kushner Team En Route To Pakistan; US Sanctions Chinese Refinery, Iran Shadow Fleet Summary

• IRGC seizes a ship it says 'collaborated with US' in provocative move ahead of Pakistan talks; Iran FM preparing written proposal for US side.

• President Trump is sending two envoys - Steve Witkoff and Jared Jushner - for talks with Iran in Pakistan, CNN reported, while Tehran sounded a more pessimistic tone on the prospects of further negotiations

• US hits Iran 'shadow fleet' with new sanctions, also takes aim at Chinese 'teapot' oil refinery.

• Third US aircraft carrier, the George HW Bush, has finally arrived in Mideast regional waters after taking the long way around Africa.

• Hegseth in presser renews call, highlighting main issue, for Iran: "All they have to do is abandon a nuclear weapon in meaningful and verifiable ways..."; Warns Iranians over continued mine-laying.

• Tehran again rejects as 'false' the rumors about Iran Parliament speaker being replaced with someone more hardline.

//--> //--> //--> US x Iran permanent peace deal by June 30, 2026?
Yes 49% · No 52%
View full market & trade on Polymarket

*  *  *

IRGC Seizes Ship, US Sanctions China Refinery & Iran Shadow Fleet

Bloomberg reports just minutes after US market close: IRGC reportedly seizes the ship "EPAMINODES" which is suspected of collaborating with the US; the ship ignored warnings and numerous maritime violations, via Tasnim.

Also developing is the newly unveiled US sanctions on Iran's 'shadow fleet' just ahead of the next planned round of Pakistan talks, which will likely start just indirectly, given the Iranian side is said to be preparing a written response. According to Bloomberg:

• The US sanctioned a Chinese oil refinery and dozens of shipping firms and vessels that transport Iranian oil.
• The Treasury Department's Office of Foreign Assets Control imposed penalties on Hengli Petrochemical (Dalian) Refinery Co., one of China's smaller so-called teapot oil refineries.
• Treasury Secretary Scott Bessent said Treasury will continue to constrict the network of vessels, intermediaries, and buyers Iran relies on to move its oil to global markets.

US Sends Team to Pakistan, CNN Says, as Iran Balks at 

Confirming earlier speculation, CNN reported that President Trump is sending tdswo envoys for talks with Iran in Pakistan, even as Tehran sounded a more pessimistic tone on the prospects of further negotiations. Special envoy Steve Witkoff and the president’s son-in-law Jared Kushner are set to participate in talks this weekend with Iranian Foreign Minister Abbas Araghchi. Yet according to Iran's semi-official Tasnim news agency reported earlier, no talks are slated to take place between the two parties during the foreign minister’s trip. Vice President JD Vance, the lead negotiator for the US, isn’t currently expected to join the delegation, CNN said. According to the latest from the White House Press Secretary on Vance:

Vice President JD Vance will be on “standby” and is “willing to dispatch to Pakistan” for Iran talks if negotiations progress in a way that the White House determines is a “necessary use of his time,” White House Press Secretary Karoline Leavitt says.

Araghchi earlier said he was headed to Pakistan, but poured cold water on speculation that the US and Iran were close to a second round of negotiations to end the eight-week war, posting on social media that the purpose of his travel is to “closely coordinate with our partners on bilateral matters and consult on regional developments.”

Officials in Pakistan familiar with the matter said they expected a second round of peace talks between the US and Iran, while declining to say when the negotiations would happen or at what level.

Oil fell by as much as 3.3% to trade near $93 a barrel on the latest sign that the elusive peace talks between the US and Iran may materialize after all, even if there are no assurances of a favorable outcome. Traders had been closely tracking the movements of both delegations for signals on whether negotiations would come to pass and offer some relief as the strait remains largely shut.

The announcement came as the US increased pressure on Iran with its naval blockade, seeking to get Tehran to agree to talks, while Israel and Lebanon are set to extend a ceasefire for three weeks. Trump ordered the US Navy to shoot any boat putting mines in the Strait of Hormuz, after the military intercepted two oil supertankers that tried to evade restrictions on traffic to and from Iran’s ports. The move by Trump, who claimed Iran is laying sea mines in the strait, is part of the White House’s attempt to cut off the country’s oil exports, squeezing it economically and forcing it to make concessions that will help end the war.

“I have all the time in the World, but Iran doesn’t — The clock is ticking!” Trump said in a Truth Social post.

Meanwhile, in case talks prove futile again, Pete Hegseth, Trump’s defense secretary, on Friday said a second aircraft carrier will join the blockade in just a few days.

Iran FM Will Not Meet American Side in Pakistan; Tehran Denies Ghalibaaf Rumors

...but he will travel to Islamabad, and is expected there by Friday evening, amid what's being described as a multi-nation diplomatic tour to shore up support for Tehran, and to set the conditions for potential next round of negotiations with Washington.

"The date for the launch of the second round of US-Iranian negotiations has not yet been determined," a Pakistani source told Al Hadath. In Islamabad all that's expected is that FM Araghchi and his small team will engage with Pakistani mediators, and nothing more. There's been no comment on all of this from the White House, which says Trump has "all the time in the world" regarding the Iran war and Hormuz standoff. Meanwhile Tehran has once again vehemently rejected as false the new Friday reports that Iran Parliament Speaker Ghalibaaf has been replaced as lead negotiator. 

Embarking on timely tour of Islamabad, Muscat, and Moscow.

Purpose of my visits is to closely coordinate with our partners on bilateral matters and consult on regional developments.

Our neighbors are our priority.

— Seyed Abbas Araghchi (@araghchi) April 24, 2026 More Speculation on Ghalibaf Resigning Negotiations Team

Tehran on Thursday rejected widespread reports that Parliament Speaker Mohammad-Bagher Ghalibaf as resigned from leadership of Iran's negotiating team. But these reports have persisted into Friday, with Saudi-funded, London-based Iran International 'newly' reporting:

Mohammad Bagher Ghalibaf, head of Iran’s negotiating team with the United States, has stepped down amid internal disagreements, Iran International has learned.

According to information obtained by Iran International, Ghalibaf was reprimanded for attempting to include the nuclear issue in talks with Washington and was forced to resign.

Hardline figure Saeed Jalili could replace him, while Foreign Minister Abbas Araghchi is also seeking to take over the negotiations.

And yet the fact remains that no talks are as yet scheduled, with regional media now saying Iran FM Araghchi is about to tour different countries, including Oman and even will make a stop in Russia - and that this may include Islamabad. If so, reports say it could just be part of a preparatory phase to engage Washington directly again. Latest via AJ: "No Iran-US talks to take place during FM Abbas Araghchi's visit to Pakistan, only bilateral engagement," citing senior Iranian source.

Hegseth Presser: Mine-Laying, Nuclear Sticking Point

A key line from the Pentagon chief on Friday morning: "All they have to do is abandon a nuclear weapon in meaningful and verifiable ways, or instead they can watch the regime's fragile economic state collapse under the unrelenting pressure of American power, a blockade as long as it takes, whatever President Trump decides," Hegseth said. He added that with the blockade continuing, "the clock is not on their side."

On this, Hegseth reiterated, "President Trump said it again yesterday. We have all the time in the world, and we're not anxious for a deal." And yet, he actually again made comparison to America's forever wars in the region:

Still, Hegseth opened his remarks to reporters decrying what he called the "endless wars of the past that dragged on for years and for decades," and he sought to draw distinctions between the conflicts in Vietnam, Iraq and Afghanistan. Instead, the defense secretary argued that Operation Epic Fury has delivered a "decisive military result" in weeks, with a focus on the mission of keeping Iran from developing a nuclear weapon.

The defense secretary said the mission is continuing into a new phase, and Iran now has the opportunity to make a peace deal. "Iran has an important choice, a chance to make a deal. A good deal. A wise deal," he said.

He further referenced yesterday's reports that Iran is still engaged in mine-laying activity in the Strait of Hormuz, and warned: "If Iran is putting mines in the water, or otherwise threatening American commercial shipping or American forces, we will shoot to destroy. No hesitation," he said.

Inadvertent admission of the leveling power of asymmetric warfare & geographic advantage: "Any one with a speedboat and a gun..."

Hegseth:

The vessels that the Iranians seized in recent days, a couple of them, they're not American or Israeli ships. They're just random ships.

They drove their little speedboats up to and shot at those ships with AK-47s.

Anyone with a speedboat, a gun, and the wrong… pic.twitter.com/BGQM97vUeQ

— Clash Report (@clashreport) April 24, 2026 'Breakthrough' on 2nd Round Pakistan Talks(?)

After signaling all day yesterday that it has not decided to engage the United States in a second round of peace talks, Friday morning has seen a flurry of headlines out of Saudi and regional media speculating that today is different. "Iranian Foreign Minister Abbas Araghchi may arrive tonight accompanied by a small delegation," Pakistani government source has told Al Arabiya's correspondent.

Also Bloomberg too is reporting that Iran's FM Araghchi is expected to arrive in Islamabad tonight. Additionally sources out of Pakistan say the country may announce today the resumption of negotiations between Iran and America. Of course, we've seen many such "second round of US-Iran talks expected" headlines before which didn't materialize, and at the moment there's no signs of movement out of the US side.

via Al Jazeera

However, some of these same sources and headlines are cautioning that it is unclear if there will be Washington engagement. But if a second round of talks actually materializes, it will lend credence to the recent White House insistence that Tehran's private stance is much more compromising and conciliatory than its public stance. Latest:

IRAN'S FOREIGN MINISTER ABBAS ARAGHCHI IS EXPECTED TO REACH ISLAMABAD AT AROUND 10 PM LOCAL TIME, ACCORDING TO AN IRANIAN SOURCE.

And Al Jazeera freshly reports on a flurry of phone calls, which suggests some kind of potential "breakthrough" in getting back to the negotiating table:

Government sources have confirmed there is a “high likelihood of a breakthrough” in US-Iran talks in Islamabad, as a delegation led by Iran’s Foreign Minister Abbas Araghchi is expected to arrive in the Pakistani capital tonight. Earlier today, Iran’s foreign minister held a telephone conversation with Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar, confirmed by both sides.

Pakistan’s Foreign Ministry said the two sides exchanged views on regional developments, the ceasefire, and ongoing diplomatic efforts in the context of US-Iran engagement. Dar underscored the importance of sustained dialogue, while Araghchi appreciated Pakistan’s “consistent and constructive facilitation role”, the ministry said.

Iran’s state news agency IRNA also reported that Araghchi held a separate telephone conversation with Pakistan’s Army chief Asim Munir.

Third US Carrier Finally Arrives in Region

US Central Command (CENTCOM) is flashing the big stick, as there are now three US aircraft carrier groups total in the region. Some pundits have speculated that the whole Islamabad second round talks back-and-forth has just been a delay tactic for each side to regroup, replenish missiles, and position forces in the region.

After all, Israel's defense ministry on Thursday stated bluntly it is preparing for a new round of warfare with Iran, and Iranian forces too say they are ready for anything that comes, and have continued to preview that America's Gulf allies would also face renewed attack for hosting US forces.

For the first time in decades, three aircraft carriers are operating in the Middle East at the same time. Accompanied by their carrier air wings, the USS Abraham Lincoln (CVN 72), USS Gerald R. Ford (CVN 78) and USS George H.W. Bush (CVN 77) include over 200 aircraft and 15,000… pic.twitter.com/fbMdz1IYn8

— U.S. Central Command (@CENTCOM) April 24, 2026 More Geopolitical Overnight & Latest

According to more of some of the latest from Al Jazeera:

• US President Donald Trump says he hopes to host Israeli and Lebanese leaders “in the near future”, after announcing a three-week extension to the fragile ceasefire in Lebanon, which was due to expire on Sunday.
• President Trump said he is under no pressure to end his war with Iran, though time is limited for Tehran. “I have all the time in the World, but Iran doesn’t – The clock is ticking!” Trump wrote on social media.
• A third US aircraft carrier has arrived in the Middle East. The USS George HW Bush joined the USS Gerald R Ford and USS Abraham Lincoln in a massive buildup of naval firepower.
• Trump gives orders to “shoot and kill” any Iranian boats placing sea mines in the Strait of Hormuz, as the US naval siege of Iran’s ports continues, and officials in Tehran say talks will not resume until the blockade is lifted.

And via Newsquawk: 

• Iran Foreign Minister to Visit Islamabad Friday, Pakistan Says; Oil Dips After Pakistan Says US-Iran Peace Talks Are Expected: BBG
• US President Trump posted that the meeting between Israel and Lebanon went well, the US is to work with Lebanon to protect itself from Hezbollah and that the Israel-Lebanon ceasefire is to be extended by three weeks: RTRS
• Israeli media: A limited operation against Iran may be carried out to avoid a prolonged war: Al Arabiya 
• An Iranian Ship Tried to Slip Past the Blockade. A U.S. Destroyer Chased It Down: WSJ
• Tanker Helga arrives at Iraq’s Basra offshore terminal to load 2mln BPD of crude, sources say; Helga is the second tanker to reach Basra terminals since the Hormuz closure.
• U.S. Soldier Charged With Using Classified Information to Bet on Maduro’s Ouster: WSJ
• Pentagon email floats suspending Spain from NATO, other steps over Iran rift: RTRS
• China to Curb US Investment in Tech Companies After Meta Deal: BBG
• Intel Shares Set to Eclipse Dot-Com Peak on Sales Forecast
• Conservative super PAC threatens to unseat Republicans over immigration bill: RTRS
• Hedge Fund at Center of Avis Squeeze Added to Stake Before Rout: BBG
• Citadel Sends Warning Shot to NYC After Mamdani Jabs Griffin: WSJ
• Meta Signs Multibillion-Dollar Deal With Amazon to Use Its CPU Chips for AI: WSJ
• Lilly’s New Obesity Pill Off to Slow Start in Race With Novo: BBG
• Oracle’s Deluge of AI Debt Pushes Wall Street to the Limit: WSJ
• Orban’s Son-in-Law Waits Out Hungarian Wealth Probe in New York: BBG
• Chinese Securities Regulator said that China is to allow qualified foreign investors to trade treasury futures from April 24, 2026, for hedging purposes only.
• US official said Russia is to be included in G20 summit invitations

* * *

Tyler Durden Sat, 04/25/2026 - 06:55

Where Homosexuality Is Still Punishable By Death

The latest data from ILGA - the International Lesbian, Gay, Bisexual, Trans and Intersex Association, a global federation that monitors laws and rights affecting LGBT people - show that consensual same‑sex relations remain criminalized in a significant number of countries, with a small but deadly minority still prescribing the death penalty.

You will find more infographics at Statista">As Statista's Tristan Gaudiat shows in the chart below, according to ILGA’s database, over 60 countries around the world still criminalize consensual same‑sex activity, mostly through prison sentences of varying lengths (from fines and short terms to long jail terms). A smaller group of roughly a dozen countries even retains the death penalty for such acts.

This includes national laws in countries such as Afghanistan, Iran, Saudi Arabia and the United Arab Emirates, as well as regional sharia provisions applied in parts of Nigeria and Somalia.

You will find more infographics at Statista

Enforcement varies widely: in some places, the statutes are rarely applied but create a pervasive climate of legal insecurity and social stigma, while in others, capital punishment is actively enforced.

Recent spikes in prosecutions have sharpened human‑rights concerns in certain regions.

Uganda significantly stepped up enforcement after a controversial law was introduced in 2023, and renewed legislative pressure in 2025 led to several high‑profile prosecutions.

In Southeast Asia, Brunei’s expanded sharia penalties - first announced in 2019 and subsequently rolled out in stages, including provisions allowing death by stoning - continue to provoke international condemnation.

Tyler Durden Fri, 04/24/2026 - 23:30

UAE To Move 50% Of Government Services To AI By 2028

Finally a practical use of AI.

In a world swimming in debt and overrun by government bloat and corruption, Dubai is taking a big step into the future. On Thursday, Sheikh Mohammed bin Rashid Al Maktoum, Vice-President of the UAE and Ruler of Dubai, announced that in two years, 50% of UAE's government sectors, services, and operations will run on Agentic AI, arguably the best use of the new technology yet. 

The new "government model" was launched under the directive of UAE President Sheikh Mohamed bin Zayed Al Nahyan. It will make the UAE the first government globally to operate at this scale through autonomous systems. 

"AI is no longer a tool. It analyses, decides, executes, and improves in real time. It will become our executive partner to enhance services, accelerate decisions, and raise efficiency," the Dubai Ruler said in a post on X.

"This transformation has a clear timeline. Two years. Performance across government will be measured by speed of adoption, quality of implementation, and mastery of AI in redesigning government work," he continued.

"We are investing in our people. Every federal employee will be trained to master AI, building one of the world’s strongest capabilities in AI-driven government. Implementation will be overseen by Sheikh Mansour bin Zayed, with a dedicated taskforce chaired by Mohammad Al Gergawi driving execution.

"The world is changing. Technology is accelerating. Our principle remains constant. People come first. Our goal is a government that is faster, more responsive, and more impactful," Sheikh Mohammed added.

Under the directives of the President of the UAE, we launch a new government model. Within two years, 50% of government sectors, services, and operations will run on Agentic AI, making the UAE the first government globally to operate at this scale through autonomous systems.

AI… pic.twitter.com/53OQLe7RXl

— HH Sheikh Mohammed (@HHShkMohd) April 23, 2026

The project includes a phased implementation across ministries and federal entities, based on continuous performance and impact assessment. This will pave the way for wider rollout, ensuring optimal results across the federal government.

Special attention is placed on developing national capabilities by training and empowering government employees to master generative artificial intelligence technologies and their applications. Which of course is reflexive, so in effect government employees are supposed to train their own replacements. 

Accroding to Khaleej Times, the move to adopt Agentic AI across government operations builds on 20 years of digital transformation in the UAE's government, from the early adoption of eGovernment and service digitalization to mobile government and integrated systems such as the UAE Pass identity verification system to full-service redesign and integration, supported by programs such as Government Services 2.0, which introduced proactive, data driven service delivery.

In 2017, the UAE became the first country in the world to appoint a Minister of State for Artificial Intelligence and launched the UAE Artificial Intelligence Strategy 2031 under the UAE Centennial 2071 vision. The establishment of the Ministry of Artificial Intelligence, Digital Economy and Remote Work Applications in 2020 further strengthened this direction.

The UAE is especially well suited for agentic implementation: the Gulf state has spent more than a decade building digital infrastructure that connects government entities, making it one of the most advanced public service ecosystems globally. Platforms developed under entities such as UAE Government and Digital Dubai already allow residents to access hundreds of services online, from paying fines to registering businesses.

The latest plan shifts the focus from digitizing services to redesigning them, allowing AI systems to manage entire workflows rather than just assisting at specific stages. For residents, this changes the experience from navigating systems to simply requesting outcomes, with the complexity handled behind the scenes.

While the progression reflects a broader pattern seen across advanced economies, the UAE is moving faster than most.

The first phase involved putting services online, which reduced paperwork and eliminated many in-person visits.

The second phase introduced mobile apps, automation, and AI tools, improving speed and accessibility while still requiring users to manage processes themselves.

The next phase moves beyond interfaces, with systems designed to complete tasks independently, meaning the user defines the objective and the system handles execution.

Back in the US, a recent attempt through Elon Musk's DOGE to cut back on government inefficiency and corruption came to an abrupt halt last summer when it became obvious that the deep state would fight to the death (or at least hire assassins to effect the death of others) to prevent any change in the well-paid status quo. Perhaps AI will succeed where everyone else has failed. 

Tyler Durden Fri, 04/24/2026 - 23:00

Muted Demand During India's Second-Biggest Gold-Buying Festival, After Prices Surge

Gold demand during one of India's key buying festivals stayed muted on Sunday as record prices curbed jewellery purchases, ​offsetting a modest uptick in investment demand, according to Reuters. 

Indians celebrated Akshaya Tritiya, the ‌second-biggest gold-buying festival after Dhanteras, when purchasing precious metals is considered auspicious. Only this time near record gold prices - the precious metal closed just over $4800 - kept buyer enthusiasm rather subdued. 

"The sharp rally in prices curbed jewellery demand. In volume terms, buying was lower as consumers ​held back, though in value terms spending was higher due to ​elevated prices," said Amit Modak, chief executive of PN Gadgil ⁠and Sons, a Pune-based jeweller.

Since consumers are, like everyone else, subject to the laws of supply and demand, it is natural that a higher price will lead to lower demand. Gold prices hit a record high of $5,594.82 ​per ounce on January 29 and are now trading just over $4,800.

Gold futures in ​India, the world's second-biggest gold consumer, closed at 154,609 rupees ($1,670) per 10 grams on Friday, nearly 63% higher than at the last Akshaya Tritiya festival. Except in a few ​southern Indian states, demand was lower than normal across the rest ​of the country, said Surendra Mehta, national secretary at the India Bullion and Jewellers Association. Meanwhile retail ‌buyers ⁠have been stacking shifting toward gold coins, which are easier to liquidate, even as jewellers offered discounts on fees for crafting jewellery to attract buyers, said a Mumbai-based jeweller.

The latest decline in demand is an extension of recent trends: India's jewellery demand in 2025 fell 24% from a year ​earlier, partially offset by a 17% rise in investment , the highest since 2013, according World Gold Council data.

Gold-buying patterns in India are ​changing, with purchases no longer concentrated only during festivals ​as price-sensitive ⁠buyers make purchases throughout the year whenever prices dip, said a Mumbai-based bullion dealer with a private bank.

India issued an order on Friday listing banks ⁠authorized to ​import gold and silver, providing relief for ​banks that were forced to halt imports because the list's publication was delayed.

Tyler Durden Fri, 04/24/2026 - 22:30

Google Deepens Anthropic Bet With Up To $40 Billion Investment

The AI funding frenzy continues, with Google planning to invest $10 billion in Anthropic at a $350 billion valuation, deepening its relationship with the San Francisco-based AI company best known for building Claude.

Bloomberg reports that Google's deal with Anthropic includes an initial $10 billion investment at a $350 billion valuation, with the potential for another $30 billion if certain performance milestones are achieved. That would bring the potential deal size to as much as $40 billion.

Part of the deal includes Google Cloud providing 5 gigawatts of computing capacity to the AI startup, founded in 2021 by former OpenAI employees, including Dario Amodei and Daniela Amodei, over the next five years. Additional capacity could follow.

Earlier this week, Amazon committed another $5 billion to Anthropic at the same valuation, with the option to invest an additional $20 billion over time.

Amazon's scramble for compute was detailed earlier in a deal with Meta:

• Scramble For AI Compute: Meta Inks Multibillion-Dollar Deal With Amazon For CPU Chips

Bloomberg pointed out that the Google-Anthropic deal is an "expansion of an agreement announced earlier this month between Anthropic, Google, and Broadcom."

For Google, the agreement with Anthropic strengthens demand for its cloud services and in-house TPU chips, which have become viable alternatives to Nvidia's AI chip stack.

Earlier this week, Google unveiled two new chips for the agentic era, including the TPU 8t, designed for training AI models, and the TPU 8i, designed for inference, or running AI services once they are developed and deployed. Again, this is all positioned to take on Nvidia.

There has been increased scrutiny around "circular" AI financing since we broke down the math and called it an epic "circle jerk" last fall.

Tyler Durden Fri, 04/24/2026 - 22:00

Pentagon Email Seeks Ways To Suspend Spain From NATO, Brussels Says Not Possible

Washington is eyeing how to pressure Spain out of the NATO alliance, after the Spanish government has taken firm anti-Israel positions, as well as come out strongly against Trump's Iran war, even disallowing some base and logistics access to the US armed forces.

An internal Pentagon email lays out options for the United States to punish NATO allies it says failed to support US operations in the war with Iran, including suspending Spain from the alliance and reviewing the US stance on United Kingdom sovereignty over the Falkland Islands, a US official told has told Reuters in a report published Friday.

via NATO/The Dispatch

In the Trump administration's eyes, Spain has also been a non-contributing thorn in the side both both US and NATO policy. To a large degree it's also easier for the US to single out and punish a country like Spain, compared more powerful and economically stronger nations like Turkey or France.

The policy options appear in a note expressing frustration over allies' reluctance or refusal to grant access, basing, and overflight rights - known as ABO - for the Iran war, the US official explained.

The email specifies that ABO is "just the absolute baseline for NATO," according to the official, who indicated this is being considered in senior policy circles.

However, it remains a big unknown whether the alliance can actually suspend a longtime permanent member, and the reality is that many other European countries are sympathetic to Spain's stance.

A NATO official told Reuters, "NATO's Founding Treaty does not foresee any provision for suspension of NATO membership."

And the reality is that any kind of suspension process would probably take so long that it would outlast the current US administration. 

But Washington could take other steps, such as drawdown in large-scale fashion its long-running force presence in Europe. This is already on the table, to the point that some European allies are already anticipating it and making preparations. 

The Pentagon and Trump administration have said of Spain, "they are not there for us." But perhaps from Spain's point of view, (and its population), it is putting Spain's national interest first. - and doesn't want to get bogged down in yet more US-led adventurism in the Middle East.

Tyler Durden Fri, 04/24/2026 - 21:30

Trump Administration Seeks Pause Of Lawsuit Challenging Vaccine Recommendations

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

Trump administration lawyers on April 23 said they are still considering whether to appeal a ruling that blocked the rollback of guidance on some vaccines.

Health Secretary Robert Kennedy Jr. on Capitol Hill in Washington on April 22, 2026. Madalina Kilroy/The Epoch Times

The lawyers said in a filing that pausing the litigation over the guidance pending the resolution of any appeal that is filed would “promote judicial economy and avoid burdens on government agencies that may be rendered unnecessary by a decision on any appeal.”

For instance, if an appeal is filed, the U.S. Court of Appeals for the First Circuit may dismiss some or all of the claims by plaintiffs in the case, which would eliminate the need for the government to produce records sought by plaintiffs, the lawyers told U.S. District Judge Brian Murphy in a motion to stay proceedings pending resolution of any appeal.

“At a minimum, a First Circuit decision on any appeal could narrow the issues in dispute and provide guidance on how to resolve any remaining issues,” the motion stated. “If Defendants continue producing administrative records and the parties start briefing cross-motions for summary judgment before Defendants’ time to appeal has run and before the First Circuit has an opportunity to weigh in on any appeal, there is a significant potential for wasted time and resources.”

Murphy in March stayed the updates made to Centers for Disease Control and Prevention vaccine guidance under Health Secretary Robert F. Kennedy Jr., resulting in the guidance reverting to what had been in place in mid-2025.

Murphy concluded that Kennedy and other officials did not follow proper procedure in updating the guidance and appointing new members to the CDC’s vaccine advisory committee.

That stay would remain in effect even if Murphy approves the requested motion, administration lawyers said.

The lawyers did not say why no appeal has been lodged against Murphy’s decision. They asked him to stay proceedings in the case until whichever comes later: May 15 or the resolution of any appeal the defendants may file.

The deadline to appeal Murphy’s preliminary injunction is May 15.

Shortly after the injunction was issued, the Department of Health and Human Services said it would prevail in an appeal. The department has declined to answer questions about why an appeal has not yet been lodged.

“Unless officially announced by us, any assertions about what we are doing next is baseless speculation,” a department spokesperson told The Epoch Times in March.

The litigation was brought by multiple health care groups, including the American Academy of Pediatrics.

Government lawyers conferred with plaintiffs, who opposed the motion to stay the proceedings.

Tyler Durden Fri, 04/24/2026 - 21:00