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As summer approaches, many Americans reach for a beloved seafood favorite: popcorn shrimp.

Taiwan Arms Deal Put On Ice Amid China Pressure, But Pentagon Cites Iran War Stockpile Concerns

Did the Pentagon just back down amid pressure from China? It appears so. As we reported Thursday, China has been actively holding up a proposed visit by Elbridge Colby, the Pentagon's under-secretary of defense for policy. The move is a transparent effort to pressure President Trump over a looming $14 billion weapons package for Taiwan.

Sources familiar with the talks told the Financial Times that Beijing signaled it "cannot approve a visit until Trump decides how he will proceed with the arms package."

Later the same day, Acting Navy Secretary Hung Cao revealed that the US is indeed pausing the $14BN arms sale in question, though he framed the move as due to the Trump administration's war with Iran. He said this was to make sure there's plenty of missile supply and interceptors to execute the war, especially in the scenario that a full aerial bombing operation is renewed. 

via AFP

Addressing a Senate Appropriations Defense Subcommittee hearing, Cao sought to assure that the US still has "plenty” of missiles and interceptors, amid growing concerns from officials.

"Right now we’re doing a pause in order to make sure we have the munitions we need for Epic Fury - which we have plenty," Cao told Sen. Mitch McConnell. "We’re just making sure we have everything, but then the foreign military sales will continue when the administration deems necessary."

McConnell pressed Cao further on the arms sale to Taiwanto which the acting Navy chief responded that it would be up to Pete Hegseth, to which the Republican Senator from Kentucky replied, "Yeah, that’s what’s really distressing."

While the administration is trying to frame all of this as more out of caution over Iran war supplies, The Hill points out that President Trump had already situated it within dealings with Xi and China:

Cao's remarks appear to contradict President Trump’s stated reason for the pause; last week he indicated he may hold off on the arms sale to Taiwan as a "negotiating chip" with China.

"I haven’t approved it yet. We’re going to see what happens," Trump told Fow News. "I may do it; I may not do it."

Speaking to reporters after a trip to China, Trump said the topic was discussed with Chinese President Xi Jinping "in great detail" before saying he will "make a determination over the next fairly short period."

As for Colby, the Pentagon had been actively discussing a summer trip to Beijing with Chinese officials, but China effectively froze the process and logistics. 

Trump admin officials have been quick to point out that Trump has approved "the sale of more weapons to Taiwan than any other US president." And so it appears that such bravado should come with a cost, in Beijing's apparent thinking.

The Trump administration paused a $14 billion weapons sale to Taiwan to preserve U.S. munitions for the Iran war, according to Acting Navy Secretary Hung Cao.

“Right now we’re doing a pause in order to make sure we have the munitions we need for Epic Fury,” Cao told senators,… pic.twitter.com/WSsedV94ay

— Clash Report (@clashreport) May 22, 2026

And yet, Trump has repeatedly publicly touted his personal relationship with Chinese President Xi Jinping as "amazing" - though his recent Beijing trip did nothing to ultimately produce a breakthrough.

At the very least, all of this also suggests that the dragged-out Iran war is weakening the Pentagon's force posture in southeast Asia, after earlier in the war military assets, including anti-air defense systems, were pulled from the region.

Tyler Durden Fri, 05/22/2026 - 12:15

The brand is also a favoeite for Hailey Bieber and Kylie Jenner.

Kyle Busch was lying on a bathroom floor coughing up blood the day before he died, according to a 911 call obtained by The California Post.

A Waymo spokesperson said it had expanded the temporary pause "out of an abundance of caution".

You could call it "Game of Stones."

Is Take-Two Sandbagging Guidance Ahead Of Grand Theft Auto VI Launch?

Take-Two Interactive slumped in early U.S. cash session after the video-game publisher reported better-than-expected fourth-quarter results but issued what some analysts described as a "conservative" outlook for the year, even as it reaffirmed the November 19 launch date for Grand Theft Auto VI.

TTWO's earnings, released Thursday evening, initially sent shares higher in the after-market, as traders focused on GTA VI remaining on schedule. However, shares fell once the cash session opened, as the market shifted attention to softer-than-expected guidance on bookings and TTWO's cautious fiscal-year assumptions.

Goldman analysts, led by Eric Sheridan, noted that the fourth-quarter report centered on optimism around its video game pipeline, including 29 planned titles through fiscal 2029 and the reaffirmed November 2026 launch date for Grand Theft Auto VI.

Sheridan said TTWO is expecting higher marketing expenses ahead of the GTA VI release, with Rockstar expected to begin its marketing campaign this summer.

The analyst outlined that traders will remain focused on GTA VI news flow, including potential trailer launches, pre-order data, marketing spend, and early title performance after release.

GTA 6 news summary today:

- November 19 is the final date
- Marketing starts in summertime (late June)
- Pre-orders will go live with marketing
- Strauss never specifically said a new trailer is part of marketing so Trailer 3 could drop before summer
- Take-Two expects $8… pic.twitter.com/9FsIymCvda

— GTA 6 Countdown ⏳ (@GTAVI_Countdown) May 22, 2026

However, potentially what's driving weakness in the stock today is that the outlook for both bookings and adjusted earnings was disappointing...

Positives: a) FQ4'26 Bookings came in above the high-end of guidance range, driven by outperformance across GTA, Red Dead Redemptio,n and continued momentum in the mobile portfolio; b) Solid RCS growth during the quarter (+7% YoY) was supported by continued engagement across GTA Online, mobile, and NBA 2K series; & c) Positive mgmt. commentary surrounding forward content slate, with the company highlighting a multi-year pipeline (incl. 6 additional titles during FY27 & 29 titles through FY29), alongside additional live service updates across key franchises.

Negatives: a) FQ1'27 Bookings guidance came in below GS/Street (FactSet) estimates, with mobile and the GrandTheftt Auto Series expected to decline (albeit offset by HSD % YoY growth for NBA 2K); b) mgmt. Guided to FY27 RCS growth being flat on a YoY basis - largely driven by the lapping of mobile growth during FY26 (and Color Block Jam success), offset by NBA 2K strength and GTA series growth; & c) Operating expenses expected to increase during FY27, driven by marketing spend and increased R&D investments.

1FQ27 & FY27 Estimate Changes:

• 1FQ27: Bookings of $1.37bn (from prior $1.55bn), Adj. EBIT of $78mm (from prior $8mm), & Adj. EPS of $0.29 (from prior $(0.06)).

• FY27: Bookings of $8.08bn (from $9.51bn), Adj. EBIT of $1.40bn (from prior $1.76bn), & Adj. EPS of $5.89 (from prior $7.42).

1FQ27, FY27, FY28, & FY29 Estimate Changes

"We reiterate our Buy rating and raise our 12-month price target from $270 to $275 as we adjust our forward operating estimates for this earnings report and management's forward commentary," Sheridan said.

Separately, Citi analysts said, "Investors are likely pleased that GTA VI is still on track for a November 19 release date, and the 4Q26 results were robust." However, they also noted that the forecast for both bookings and adjusted earnings was disappointing, adding, "We suspect investors will take the guidance in stride, given some level of conservatism that's likely embedded in the FY27 outlook."

Vital Knowledge analysts made similar remarks: "While the bookings guide falls short of expectations, many feel this is just management being conservative."

Bank of America analysts also said the same thing, noting that FY27 guidance looks "overly conservative," arguing that the $8.2 billion sales guide implies only about 31 million GTA 6 units, or 21% console penetration.

One X user said that CEO Strauss Zelnick's forecast ahead of GTA 6 "is a generational sandbag" ...

Professional subscribers can read the full GTA VI note here at our new Marketdesk.ai portal

Tyler Durden Fri, 05/22/2026 - 12:00

US Lawmakers Renew Strategic Bitcoin Reserve Push With ARMA Bill

Authored by Brayden Lindrea via CoinTelegraph.com,

US lawmakers have renewed efforts to codify a US strategic Bitcoin reserve with a new bipartisan bill on Thursday that seeks to acquire around 1 million Bitcoin over five years. 

The American Reserve Modernization Act of 2026 would establish a Strategic Bitcoin (BTC) Reserve and Digital Asset Stockpile for other federally held cryptocurrencies, which would be held by the US Treasury Department, said the bill’s sponsor, Representative Nick Begich.

ARMA, sponsored by 16 members of Congress, builds on the BITCOIN Act, which was introduced in July 2024 and updated in March 2025.

Source: Nick Begich

In an interview on Sunday, Patrick Witt, of the President’s Council of Advisors for Digital Assets, referred to ARMA as “Version 2” of the BITCOIN Act and said the White House has spent considerable time examining the legal implications of a Bitcoin reserve.

“It's a breakthrough as far as getting everything in place, legally sound, properly safeguarding the assets.”

The push for a federal policy comes as the US currently holds 328,372 Bitcoin worth more than $25.5 billion — the most of any nation-state — but has sold portions of those holdings through court-ordered actions over the years.

“The US is already one of the largest holders of Bitcoin in the world. But Congress has never set a federal policy on what to do with that asset,” said US Representative Jared Golden, one of the 16 co-sponsors of the bill.

Under ARMA, Bitcoin must be held for a minimum of 20 years unless it is sold to reduce America’s national debt, which topped $39 trillion on Wednesday.

Like the BITCOIN Act, ARMA also seeks to acquire up to 1 million Bitcoin over five years through budget-neutral strategies, meaning it would avoid using taxpayer money.

US Representative Mike Carey argued that as digital assets continue to grow in importance, the bill could strengthen America’s long-term economic position and help keep it “competitive on the world stage.”

Strive CEO and chairman Matt Cole said ARMA is the “single most important crypto legislation” that could come out of Washington DC.

ARMA could strengthen transparency measures, property rights

Quarterly proof of reserve reports and independent third-party audits of the Bitcoin reserve would be published under ARMA, Begich noted.

The bill also seeks to protect digital property rights by affirming that the federal government may not impair the right of individuals to own or self-custody digital assets.

Tyler Durden Fri, 05/22/2026 - 11:45

The View aired a re-run featuring a tense interview with a former Trump official.

Girlfriend’s visa has officially expired.

Girlfriend’s visa has officially expired.

The Chargers have watched their franchise quarterback become much more of a public figure as his relationship with the pop star evolves.

One shopper even raved that they're more comfortable than Birkenstocks.

One shopper even raved that they're more comfortable than Birkenstocks.

The singer's surrealist Robert Wun dress had an extra diamond necklace hanging from the pierced bodice.

The singer's surrealist Robert Wun dress had an extra diamond necklace hanging from the pierced bodice.

Their trip quickly turned tragic.

"Huge Shock": China Launches Crackdown On Cross-Border Stock Selling To Block Capital Outflows

China launched an unprecedented campaign against illegal cross-border trading to stem capital outflows, threatening severe penalties against brokers and ordering non-compliant accounts to be liquidated within two years, sparking a brutal selloff in three popular brokerages.

As Bloomberg reports, the pushback came after the onshore markets closed Friday when eight regulators issued a joint statement vowing a campaign against these trades, sending US-listed Chinese stocks tumbling.

The securities regulator said it planned to penalize brokerages Futu Holdings, Tiger Brokers and Long Bridge Securities for operating on the mainland without a license, and would confiscate all “illegal gains” from their domestic and overseas entities. Hong Kong’s markets regulator also announced measures on accounts for mainland Chinese investors.

Futu said regulators proposed about $271 million in fines, while Tiger Brokers owner Up Fintech Holding Ltd. said it was subject to a combined 411 million yuan ($60 million) in fines and confiscated income.

“Tiger has noted the relevant notice and will strictly comply with regulatory requirements and actively cooperate with the relevant process,” UP Fintech’s brokerage unit said in a statement, adding that all business operations remain normal. Futu also said it will co-operate with regulators and that business outside mainland China remains normal. China clients represent about 13% of total funded accounts, the firm said in a statement.

The penalty on Futu likely refers to revenue from mainland clients before 2022, Morgan Stanley said in a research note. That’s because Futu has largely stopped adding new mainland clients since then, and the requirement at that time was to ask brokers to continue serving existing clients, according to analyst Chiyao Huang. Separately, JPMorgan Chase & Co. cut Futu to neutral, with a price target of $87. 

The impact on the brokers’ shares was immediate: Up Fintech saw its ADRS sink 25% on Friday, while the US-listed shares of Futu tumbled 27%. The declines spread to other Chinese stocks, as the Nasdaq Golden Dragon China Index fell 1.9%

The joint plan, issued on Friday by the China Securities Regulatory Commission, the People’s Bank of China, the Ministry of Public Security and five other government bodies, aims to dismantle unauthorized offshore investment services that target mainland investors.

Officials said the measures are designed to clean up the capital market and steer investors toward regulated channels for overseas investment. An estimated $1.04 trillion of so-called hot money flowed out of the country in 2025, according to Bloomberg calculations - the biggest annual outflow since data began in 2006.

The moves amount to China’s most aggressive attempt yet to clamp down on its citizens finding ways to trade overseas markets, a long-running practice that is officially off-limits for a nation that imposes strict capital controls to defend its currency.

But as Bloomberg notes, the ramifications may be much wider than just the brokers targeted. Chinese companies’ global ambitions have led them to list in New York, London and particularly Hong Kong, and Chinese citizens have invested large sums as they follow their national champions overseas.

“This came as a huge shock that the plug would be pulled today,” said Chen Da, founder of Dante Research, adding that the biggest surprise was the push to close existing accounts within two years. “This is very bad news for Chinese ADRs and the Golden Dragon Index if people rush to liquidate all at once.”

The Hong Kong stock market’s strong performance has attracted a growing number of mainland investors to open overseas accounts illegally to trade there, increasing outflows and likely providing authorities a stronger incentive to stop such practices, said Allen Wang, a Shanghai-based partner at Jincheng Tongda & Neal Law Firm.

The shocking crackdown also coincides with Chinese tax authorities’ intensifying drive to get its citizens to pay taxes on offshore income, he noted. A number of clients have since last year been contacted by officials to pay taxes for gains including those from overseas stocks trading, with some having opened new accounts in Hong Kong after 2022, he added.

Under the new initiative, overseas institutions will be banned from marketing in China related to securities, futures and fund products. They will also be prohibited from offering account-opening services, executing trades or facilitating fund transfers for domestic clients.

The crackdown extends beyond foreign firms. Domestic entities that assist such operations, including intermediaries that solicit investors or companies providing website, trading software or customer support, will also be subject to enforcement action. Internet platforms and social media accounts publishing illegal promotional content are included. In addition to securities laws, violations involving foreign exchange controls, anti-money laundering rules, cybersecurity requirements and personal data protection will also be inspected.

Banks will face closer scrutiny as well. Institutions providing accounts for cross-border investment will be required to strengthen compliance checks on outbound foreign exchange transactions, as regulators move to curb illicit capital outflows, including those routed through underground banking networks.

The move comes around three years after local retail traders were cut off from accessing the apps of Futu and Up Fintech, an early sign that Beijing was growing impatient with cross-border flows. In 2023, the firms were forced to scrub their trading platforms from mainland app stores. That followed a late-2022 directive where regulators told Tiger and Futu to rectify “illegal” activities and stop taking on new onshore investors.

Tyler Durden Fri, 05/22/2026 - 11:25

Great Again: Blue-Haired Liberals Seen Enjoying Beautifully Restored DC Park Fountain

Authored by Steve Watson via modernity.news

Decline is a choice

Just weeks ago, Meridian Hill Park - also known as Malcolm X Park - stood as a graffiti-scarred reminder of neglect, overrun by vagrants, trash, and decay. Today, its iconic 13-basin cascading fountain flows powerfully once more, drawing families, dog walkers, and even those with blue hair who once might have sneered at such efforts.

The transformation is undeniable: clean pathways, flowing water, and people reclaiming public space in the heart of Washington, D.C.

It's the direct result of President Trump's determination to restore the nation's capital ahead of America's 250th anniversary. As one viral video captured, locals are visibly enjoying the revived park where needles and encampments once dominated.

You're listening to the sound of the Nation's Capital coming back to life. ??

Decline is a choice. @POTUS is choosing action, beauty, strength, and pride. pic.twitter.com/CsiVSLdJuJ

- US Department of the Interior (@Interior) May 20, 2026

President Trump has been clear about his personal investment in these projects. In a statement shared widely, he detailed the progress:

"So far, over 20 have been revitalized, and fixed, looking better than the day they were built, many years ago. We have some left, some were in very bad and difficult condition, but we will get them all done in a short time. D.C. is being reawakened as to its Beauty, Elegance, and Charm."

He continued on the grand prize:

"The "Granddaddy" of them all will be The Reflecting Pool - 2,500 feet long, and almost 200 feet wide, the biggest such structure ever built, but also, the most troublesome for many Administrations in that, from the time it was built in 1922, it essentially never really worked! It leaked from all angles, drew dirt, grime, and decay, was often filled with garbage, and wasn't at all representative of the two Great Monuments it connects - The Lincoln Memorial, and the Washington Monument."

? NOW: Liberals are LOSING THEIR MINDS after President Trump posted how beautiful the new USA flag blue Lincoln Memorial Reflecting Pool will look

They hate nice things - and preferred he let the algae and goose poop sit in the pool!

Trump nailed it: "Why would I bother taking… pic.twitter.com/NwJVVrG6PE

- Eric Daugherty (@EricLDaugh) May 10, 2026

"I, together with Doug Burgum and the Department of Interior, am fixing it the right and proper way - It will last for many decades into the future," Trump added.

? JUST NOW: President Trump infuriates the Democrats by announcing he PERSONALLY made contributions to beautify DC, and dozens of fountains are starting to work again

BUILDER-IN-CHIEF.

The Reflecting Pool will be the biggest water project of them all ??

"So far, over 20 have… pic.twitter.com/UDUgdf8qpn

- Eric Daugherty (@EricLDaugh) May 20, 2026

Trump further stated, "The Fountains are now working, and look magnificent as the Park is being entirely rebuilt, using far better and more beautiful materials than originally used. As the Entrance to the White House, it's got to be spectacular - There is no other way! Again, check out what's going on at Lafayette Park."

The historic cascading fountain at Meridian Hill Park in D.C. is flowing after a decade of disrepair and decay - all thanks to President Trump's relentless effort to make our nation's capital beautiful again.

REMEMBER - DECLINE IS A CHOICE! pic.twitter.com/IHLZt0rU4z

- Rapid Response 47 (@RapidResponse47) May 19, 2026

The fountain revival aligns with Trump's revived executive order promoting classical architecture for federal buildings - an order Biden scrapped in 2021 but Trump reinstated to prioritize beauty, tradition, and civic pride over modernist ugliness.

Meridian Hill Park before vs. after.

For years, homeless camps and drug addicts took over the park.

Now it's cleaned up and full of families again, thanks to @POTUS's executive order to make the capital safe and beautiful again. ?? https://t.co/CLsrqwSOkW pic.twitter.com/MSrIsuyWvm

- Trump War Room (@TrumpWarRoom) May 18, 2026

Meridian Hill Park's cascading fountain, one of North America's longest, had been dry for years. Now it cascades with renewed vigor, part of a $54 million initiative restoring seven major D.C. fountains.

The Lincoln Memorial Reflecting Pool - long plagued by leaks and grime - is undergoing a major overhaul with upgraded materials and a striking "American flag blue" finish for enhanced reflection and durability.

As Trump noted, Lafayette Park, right at the White House entrance, is also being fully rebuilt with superior materials. Additional fountains and public spaces across D.C. are in the pipeline, all timed for the 250th celebrations.

The most striking images show everyday Americans - including those who might not vote Trump - relaxing by the flowing water. Blue Haired liberals were even spotted enjoying the surroundings.

Blue Haired liberals in Washington DC are THANKING Trump.

This is Meridian Park, just North of the White House.

Beautiful. Clean. Safe.

Turns out people like living in a city that isn't a drug-ridden, lawless war zone. pic.twitter.com/rcDJt7hgqF

- Benny Johnson (@bennyjohnson) May 20, 2026

Crime in D.C. is dropping, encampments are cleared, and families are returning. Beauty and order draw people in; neglect repels them. Trump's approach proves that enforcing basic standards and investing in public spaces benefits everyone, regardless of politics.

Leftist critics can fume about "wasted" money or "gentrification," but the footage tells the truth: people love safe, clean, beautiful spaces. They always have. Decades of Democrat-led decay turned the capital into a embarrassment. Trump is reversing it.

The fountains are flowing, the parks are alive, and the capital is reawakening.

Tyler Durden Fri, 05/22/2026 - 11:24

"What is wrong with the Kimmels??" one frustrated Angeleno wrote on social media.