79.6 F
Chicago
Friday, September 11, 2026
Home Blog Page 106

Moderna’s mRNA Flu Vaccine Approved By FDA

Moderna’s mRNA Flu Vaccine Approved By FDA

Authored by Rachel Roberts via The Epoch Times,

The U.S. Food and Drug Administration has approved Moderna’s flu shot for over-50s, marking the first time the agency has licensed a messenger ribonucleic acid (mRNA) vaccine for seasonal influenza.

Moderna bivalent COVID-19 vaccine at a clinic, in Richmond, Va., on November 17, 2022. AP Photo/Steve Helber, File

The shot, known as mFlusiva, was given a traditional approval for adults aged 50 to 64, and an accelerated approval for the over-65s, the pharmaceutical giant said on Wednesday.

Moderna has agreed to run an additional study and submit further data on the over-65s in a bid to demonstrate the vaccine’s benefit for that age group.

The approval was based on data from a late-stage trial involving more than 40,000 adults aged 50 and older, which found the shot was 26.5 percent more effective than a licensed standard-dose flu vaccine.

Moderna had to submit separate late-stage data showing the shot generated stronger antibody responses than Sanofi’s high-dose flu vaccine in the over-65s after problems with the methodology in its phase 3 trial.

The vaccine uses mRNA technology, intended to prompt the body to produce influenza antigens and trigger an immune response. Scientists say this approach could potentially allow faster updates of the shot to match the ever-shifting circulating strains.

Health Secretary Robert F. Kennedy Jr., who oversees the FDA, announced in August 2025 that the Department of Health and Human Services (HHS) was winding down mRNA vaccine development activities under the Biomedical Advanced Research and Development Authority. He said that funding would be redirected away from developing mRNA vaccines toward “safer, broader vaccine platforms that remain effective even as viruses mutate.”

Several FDA officials who had voiced opposition to mRNA vaccines have recently departed the agency.

Flu vaccines can range in effectiveness depending on the season, peaking at 60 percent and dropping to as low as 10 percent in the 2004-2005 season, according to estimates from the Centers for Disease Control and Prevention.

The CDC and the FDA both recommend annual vaccines for everyone in the United States, including babies once they are 6 months old.

‘Important New Option’

“Flu remains a significant public health challenge, and mFLUSIVA provides an important new option for America’s seniors,” Moderna said in an Aug. 5 statement.

MFlusiva will compete with existing flu vaccines from Sanofi, GSK, CSL Seqirus, and AstraZeneca. Conventional flu shots are largely egg-based and contain viral proteins.

Officials in the spring try to predict which strain of flu will be circulating in the following virus season, primarily in the fall and winter, giving manufacturers about six months to produce shots with updated formulations.

This process can result in a mismatch between targeted and circulating strains, an issue that the FDA and Moderna said the mRNA shot could address.

Higher Rates of Adverse Events

The trial found the Moderna flu shot caused higher rates of adverse events in recipients than the already available vaccines, with side effects including fatigue, headaches, and muscle pain. Serious adverse events were reported in 2.2 percent of the recipients of the mRNA vaccines – with three events considered by the investigator to be vaccine-related – and in 1.9 percent of those who received the standard-dose comparator vaccine.

Vaccines containing mRNA are cleared in the United States for COVID-19 and respiratory syncytial virus.

The FDA in 2025 narrowed the approval for Moderna COVID-19 vaccines, known as Spikevax, and for Pfizer-BioNTech’s rival shot, known as Comirnaty, both of which use mRNA technology.

A French peer-reviewed study published in 2022 concluded that mRNA COVID-19 shots from Pfizer and Moderna were found to increase the risk of both myocarditis and pericarditis, particularly in adolescent and young adult males after the second dose.

Moderna withdrew its application for a COVID-flu combination shot last year after the FDA sought additional evidence demonstrating the effectiveness of its flu component. European regulators in April approved the combination shot.

Lost Revenue

Moderna had been counting on the combined shot and the flu vaccine to replace some of the lost COVID vaccine revenue and to prove the long-term commercial potential of mRNA technology.

Jefferies analysts had forecast $750 million generated from U.S. sales of Moderna’s flu shot and its combination COVID-flu vaccine by 2030.

FDA reviewers said on June 16 that uncertainties remained about the efficacy of mFLUSIVA, then known as mRNA-1010 before its approval, due to an issue with trial methodology.

The phase 3 trial compared the immunogenicity and clinical results in a group that received Moderna’s vaccine with the results from a group that received an authorized, standard flu vaccine.

The U.S. government, though, recommends a higher-dose flu vaccine than a standard shot for adults aged 65 and older.

In a 92-page document, FDA reviewers said, “This limitation affects interpretation of the net clinical benefit in the 65 and older population and is a key issue for Advisory Committee deliberation.”

Other lingering questions included vaccine safety, given that adverse reactions were more common among mRNA-1010 recipients, the report said.

Moderna Connections

Multiple FDA committee members who voted in favor of the approval have connections to Moderna, including El Sahly and Dr. Flor Munoz, who was a Moderna adviser from 2022 to 2024 and played a role in recommending that pregnant women should receive COVID-19 vaccines.

Moderna’s withdrawal of its combined Flu and COVID-19 shot came amid heightened FDA scrutiny of vaccines under the agency’s previous leadership.

Former FDA Commissioner Marty Makary and former vaccine chief Vinay Prasad departed the agency earlier this year.

Makary had faced criticism from companies, lobbyists, and others for agency officials declining to approve certain drugs, including a cancer drug made by Replimune. Makary had defended the decisions in television interviews as following the evidence.

Signage outside of the Food and Drug Administration headquarters in White Oak, Md., on Aug. 29, 2020. Andrew Kelly/Reuters

Tyler Durden
Thu, 08/06/2026 – 11:45

Camp David Clash: Trump Hammered Hegseth For Misleading Him On Arms Supply, WaPo Reports

Camp David Clash: Trump Hammered Hegseth For Misleading Him On Arms Supply, WaPo Reports

Following reports that US forces have “used up virtually all” of their precision, long-range missiles in futile attempts to first trigger an Iranian regime change and then to compel Iran to open the Strait of Hormuz, now comes reporting that an angry President Trump confronted Defense Secretary Pete Hegseth in recent days, accusing the Pentagon of misleading him on critical munitions shortages that leave Trump increasingly powerless in the five-month-old fiasco of a war. 

According to sources cited by the Washington Post, who spoke on condition of anonymity due to concern about retaliation, Trump’s ire erupted alongside a cabinet meeting held Friday at Camp David. Trump expressed consternation that he’d been assured that the weapon shortage “had been fixed” when that is apparently far from true.     

The Post’s administration sources portrayed Hegseth as one of the biggest and most persuasive proponents of launching a regime-change war on Iran (Photo: The Hill)

According to “multiple officials” who — reading between the lines — clearly seem to have had it with Fox News talking-head-suddenly-turned-Defense-secretary, Hegseth defended his own actions and tried redirecting the blame to Deputy Defense Secretary Steve Feinberg, a billionaire GOP donor whom Trump plucked out of his role as co-CEO of Cerberus Capital Management to give him the number-two job at the Pentagon. Hegseth was said to have thrown Feinberg under the bus for both the shortages and failing to keep Trump fully informed.  

The officials characterized Trump as increasingly exasperated by Hegseth, whom they describe as one of the most enthusiastic supporters of launching a war on Iran, saying he persuaded Trump that victory would come quickly and easily. The war that the administration once projected to last three or four weeks is now in its sixth month. Iran has used both its sophisticated missile technology and its inexpensive but huge arsenal of drones to wreak havoc on US and allied forces around the Gulf. Hammered by a shock and awe campaign peppered with the multiple incidents involving mass casualties among innocents — including scores of elementary schoolgirls — the Iranian people have rallied around the Islamic regime, for all its faults. At least 18 US service members lay dead, several hundred have been wounded, and some estimates of the war’s cost to date exceed $100 billion.  

Sources tell Reuters the Pentagon has blown through “virtually all” of its long-range ATACMS missiles 

The White House and Pentagon denied the account given by the Washington Post’s sources. “This is 100% fake news. Literally never happened. And President Trump has the utmost confidence in Secretary Hegseth,” White House press secretary Karoline Leavitt told the Post. Speaking more broadly, Pentagon chief spokesman Sean Parnell said “claims about depleted stockpiles, internal disagreements, [and] the Secretary’s position on Iran” are “fictional.” As for Hegseth’s job security, Parnell said he “isn’t going anywhere.”

On Tuesday, Reuters reported that the US munitions crisis is even worse than previously understood. In particular, the Army Tactical Missile Systems (ATACMS) and Precision Strike Missiles (PrSM) are said to be running critically low. “Washington has used virtually all of these weapons,” two sources told Reuters, after several media reports and think tank studies had already sounded the alarm over dwindling missiles amid both the Iran war and in the years-long process of supplying Ukraine. Low Patriot defense missile supplies have also been a persisting issue in the headlines.

Over the weekend, Trump’s backtracking on his threat to launch “the biggest attack since World War II” was widely attributed to Saudi Crown Prince Mohammed bin Salman urging Trump to refrain, fearing a large attack would accomplish little more than triggering massive and devastating retaliation against the kingdom and other Gulf states. Trump’s calculus also likely reflected Pentagon warnings about its shrinking capacity to attack. On Saturday, the Post reported that the commander of US European Command told superiors, in writing, that his forces were stretched thin, and that he might be put in a position where he’d have to choose between defending his “homeland” or the State of Israel.

His candor was praiseworthy, but it may have put a dent in his prospects for advancement. 

Tyler Durden
Thu, 08/06/2026 – 11:25

Anti-Trump GOP Governors Plot To Undermine President’s Immigration Crackdown With Work-Visa Scheme

Anti-Trump GOP Governors Plot To Undermine President’s Immigration Crackdown With Work-Visa Scheme

Two Republican governors with a long history of clashing with Donald Trump are working with Democrats on a plan to hand migrant workers state-issued work permits instead of deportation notices, a direct challenge to the president’s immigration crackdown that the four laid out on camera. Utah Gov. Spencer Cox and Oklahoma Gov. Kevin Stitt joined Democratic Govs. Wes Moore of Maryland and Matt Meyer of Delaware for a joint interview with Bloomberg, describing a shared position that has far more in common with the Democratic Party and the labor lobby than with the Trump administration’s approach to the border.

Left to right: Oklahoma Gov. Kevin Stitt, Maryland Gov. Wes Moore, Utah Governor Spencer Cox

The vehicle for that position is the National Governors Association’s Task Force on Immigration Policy, which Stitt built after noticing a pattern among his colleagues. “The reason I set this task force up is because I realized by talking to my colleagues that they’re having the same issues,” Stitt told Bloomberg reporter Christina Ruffini. “Let’s actually have the governors issue workforce permits.”

That last line is the whole ballgame. The task force wants Congress to hand governors the discretion to issue migrant work permits at the state level, a proposal that treats illegal immigration less as a legal violation and more as a labor supply problem for agriculture, construction and hospitality. It resembles former President George W. Bush’s immigration reform approach, which sent the message to illegal immigrants, “If you’re doing a job an American won’t do, you’re welcome here, for a period of time, to do that job.”

Cox framed the alliance as a breakthrough four decades in the making. “For 40 years, we’ve been trying to do immigration reform and nobody’s ever been able to get it done,” he said. “But what’s different this time is that we have a secure border.” He credited that border security to the current administration while working, in the same breath, to carve states out from under its enforcement arm. “We all care – Republicans and Democrats – about a secure border,” Cox said, a sentiment that gets considerably murkier once the conversation turns to what happens to people already inside it.

Cox described a February meeting among the governors as almost startling in its unity. “We were together in February and having a conversation about immigration, and we were all shocked at the level of bipartisanship, cooperation, and agreement,” he said. “We were really stunned that everybody had kind of the same opinions on what needed to be done.” Bipartisan agreement among governors on loosening enforcement is not the reassurance Cox seems to think it is.

Ruffini asked the group for a show of hands on whether ICE and the Department of Homeland Security have been effective. Neither Cox nor Stitt raised one. Cox pointed to enforcement actions in Minnesota as a specific concern, citing “the violence and the deaths that we’ve seen” and calling the incidents “deeply problematic.” Stitt was even more blunt about his overall assessment. “We’re not using common sense right now,” he said.

Stitt’s example centered on a green card holder from Vietnam who has lived in Oklahoma City for 25 years. “We had a person from Vietnam that’s been in Oklahoma City for 25 years, legally in the United States, with a green card, working at Hobby Lobby,” he said. The man had self-deported after a marijuana arrest then returned to the country legally. “They’ve been a great citizen chasing the American dream, but they’ve been picked up for deportation now,” Stitt said. Gov. Moore added an economic gloss to the argument, saying a deportation agenda focused on criminals ought to travel alongside pro-growth policy rather than replace it.

Neither Republican governor has a great relationship with Trump, and both have clashed with him politically in recent years, which explains their break with him on immigration enforcement.

The Trump administration clearly isn’t on board. Trump won a second term in 2024 in part by promising to close a border that sat wide open for four years under Biden. Immigration has generally been the strongest issue for him, outperforming his approval numbers on the economy and foreign policy.

DHS Secretary Markwayne Mullin set the tone from inside the administration at the same NGA gathering, sitting beside Stitt and offering his own verdict on the odds of any of this actually happening. “Is immigration reform possible? No,” Mullin told the assembled governors. “Do you really need immigration reform? Yes, you do, but can we work with the system we have? Yes.”

Tyler Durden
Thu, 08/06/2026 – 10:45

Senate Panel Holds Fauci In Contempt For Refusing To Answer Questions

Senate Panel Holds Fauci In Contempt For Refusing To Answer Questions

Anthony Fauci has been held in contempt of Congress by the Homeland Security and Governmental Affairs Committee, after he repeatedly refused to answer lawmakers’ questions about funding risky research to genetically manipulate bat coronavirus in Wuhan China, and his role in the ensuing lockdown quagmire that cratered the economy after he was put in charge of leading the COVID-19 response. 

In an 8-5 vote brought by Committee Chairman Sen. Rand Paul (R-KY), the contempt vote seeks to refer the case directly to the DOJ for prosecution – bypassing a full vote from the Senate. 

“Seeking the truth is not a witch hunt,” Paul said be fore the vote, per the WSJ. “Accountability is not vengeance. Accountability is what stands between the American people and a repeat of the mistakes and the very real consequences of the past.” 

The Committee’s top Democrat, Sen. Gary Peters, called the investigation “one-sided from the beginning,” claiming that “Information has been selectively released to support conclusions that the chairman reached years ago.” 

Which of course is complete bullshit. Fauci funded the research, botched the response after COVID-19 broke out, lied about it under oath, and then pleaded the 5th when receipts came out.  

Committee Chairman Rand Paul, R-Ky., questions Fauci on Wednesday.Anna Moneymaker / Getty Images

Or, as Paul wrote prior to the vote: “Dr. Fauci appeared under subpoena and invoked the Fifth Amendment to refuse answering questions. During the hearing, I ruled that the Fifth Amendment did not apply because of the pardon, and that Fauci had waived any remaining privilege by giving opening testimony. I ordered him to answer and warned him about contempt, yet he still refused. That is obstruction of a congressional investigation. The Committee will act accordingly.”

The subpoena, issued in July, directed Fauci to testify on the committee’s investigation into “risky life sciences research and the origins of the COVID-19 virus,” according to the Epoch Times.

The July 29 hearing itself was a prolonged exercise in refusal. Fauci opened by accusing Paul of an “unhinged obsession” with him and claiming the sole purpose of the session was to trap him into saying something that would land him “behind bars.”

From that point forward he answered nothing of consequence. Senators pressed him on gain-of-function research funding, the lab-leak evidence he had privately acknowledged while publicly promoting a natural-origin narrative, lockdown policies, school closures, personal financial awards solicited with federal employees on taxpayer time, and contradictions between his public statements and private diary entries. He declined them all.

Tyler Durden
Thu, 08/06/2026 – 09:45

Federal Review Finds 90% Of Maine’s Autism Support Services Lacks Justification

Federal Review Finds 90% Of Maine’s Autism Support Services Lacks Justification

Authored by Debra Heine via American Greatness,

Centers for Medicare and Medicaid Services (CMS) Administrator Dr. Mehmet Oz revealed Tuesday that federal investigators have found widespread irregularities in Maine’s support services for adults with autism.

Speaking Tuesday during a Department of Justice anti-fraud press conference in Philadelphia, Oz said investigators have found that 90 percent of autism services provided by the blue state lacked justification.

“Yesterday I was in Maine,” Oz said. “We’re investigating home support services, just like you’re seeing here, for adults, in that case, who have autism.”

“We have massive increases that have grown to the kinds of numbers you could not imagine being able to show on a clipboard, with 90 percent of services billed and paid for—in Maine in particular—where there is no justifiable backup for it,” Oz said. “Nine out of ten services, you can’t justify they should have happened. It’s the opposite of what you’d normally expect.”

The Trump administration has been urging states to increase oversight of Medicaid autism services, and examine whether a massive surge of spending on a new therapy called “applied behavior analysis” is medically appropriate, Axios reported.

During the press conference Tuesday, state and federal prosecutors announced charges of 19 defendants in connection with a $4 million scheme to defraud government-run Medicare and Medicaid system in Pennsylvania.

Federal officials detailed several new anti-fraud initiatives, including “expanded Medicaid Strike Forces, new investigative toolkits for states and enhanced data analytics designed to identify suspicious billing patterns before taxpayer money is paid,” Maine Wire reported.

Oz did not identify the providers under review, specify the total amount of claims being examined or announce any criminal charges connected to Maine. He also did not allege that every unsupported claim constituted fraud. Instead, he said the findings demonstrate the need for significantly greater oversight of Medicaid-funded home support programs.

Nevertheless, his remarks represent a major escalation in the Trump administration’s examination of MaineCare spending.

Federal officials have spent months reviewing Maine’s administration of Medicaid-funded autism and developmental disability services. Earlier this year, federal auditors questioned tens of millions of dollars in payments involving rehabilitative and community support services while requesting additional records from the Mills administration concerning providers and billing practices.

Far-left Maine Democrat Senate candidate Troy Jackson’s health care platform is focused on passing a government run “Medicare for All” insurance system to replace the current system.

Oz said programs that were originally designed to help disabled Americans have increasingly become vehicles for fraud.

“We have no tolerance for anyone who invents hours, invents a disability, invents a workforce at the expense of people who depend on these programs,” Oz said. “And if you love these most vulnerable Americans, you should care as well.”

The CMS administrator told reporters that the COVID-19 pandemic was the catalyst for the explosion of fraudulent Medicaid schemes currently plaguing the country.

“What happened in 2020 that has catalyzed this?” Oz asked. “COVID appears to have unleashed massive fraud because criminals knew the federal government would not follow up on the money that was being sent out.”

The Trump administration, he said, has adopted an “all-of-government” strategy deploying the Department of Justice, the Department of Health and Human Services, the FBI, the Drug Enforcement Administration, the IRS Criminal Investigation Division and state attorneys general to identify and prosecute Medicaid fraud.

“They’re not just stealing money, they’re stealing our trust,” Oz said of the fraudsters. “And that’s a much more difficult thing to replace.”

At the close of the nearly two-hour long presser, Assistant Attorney General Colin McDonald delivered a stern warning to those defrauding government health care programs.

“The era of getting rich off the backs of our programs for our sick, elderly and disabled is over,” McDonald said. “Your time is up.”

Tyler Durden
Thu, 08/06/2026 – 09:20

Yemen War Reignites As Houthis Intensify Saudi Shipping Attacks, Ground Assault, With Hormuz Deal ‘Close’

Yemen War Reignites As Houthis Intensify Saudi Shipping Attacks, Ground Assault, With Hormuz Deal ‘Close’

Yesterday witnessed at least the eighth Saudi oil tanker attacked by the Houthis since the maritime blockade began on July 22, which is being followed by reports the Yemeni rebel group backed by Iran could be preparing for all-out war with Saudi Arabia.

The group struck two Saudi oil tankers in the Red Sea on Wednesday and coupled the action with a threat to intensify attacks in order to close “all access routes” to Saudi oil shipments. Military spokesman Brig. Gen. Yahya Saree confirmed that ballistic missiles were launched at a Saudi tanker called Wafa near the Saudi port city of Yanbu.

A second oil tanker identified as Daisy was subsequently hit in the Gulf of Aden with a ballistic missile and “forced to turn back” – the spokesman said in a social media post. The Houthis are dubbing it a “blockade for blockade” strategy.

via AFP

But it seems the Saudis aren’t ready to take this laying down, even if the ratcheting Red Sea region conflict threatens fragile Oman-sponsored talks to reopen the Strait of Hormuz, as on Thursday its proxy the Yemeni Armed Forces – representing the official government whose seat is in Aden in the south – announced preparations for a large new military operation.

This as Al Arabiya reports a fresh outbreak of ground fighting, in a renewal and intensification of the civil war that goes back to at least 2015 (and has an international proxy war aspect to it). The Arab publication says that a Houthi attack killed 45 government forces in Hadramawt and Marib in Yemen, areas which also happen to be home to the vast majority of the country’s oil and gas fields.

Separately Al Jazeera describes of the same event:

The Yemeni Emergency Forces of the internationally-recognised government, have said that there have been material and human losses following attacks on its camps.

Several causalities have been reported after a suspected Houthi rocket and drone attack targeted bases hosting the forces in Marib and Hadramaut.

So now it seems that even if a grand Hormuz deal to reopen energy transit can be pulled off with some level of sticking power, there will have to be a separate ceasefire to contain the Yemen and Bab al-Mandab Strait crisis.

To some degree, the Houthi closure of the Red Sea to Saudi shipping represents a good cop, bad cop approach to the United States and its Gulf allies. It is a way for Tehran to still maintain some serious tangential leverage over global energy, even as ships in Hormuz could finally get moving again.

As a reminder, the Houthis have been part of what Iran sees as the “axis of resistance” going back to when the Shia rebel group first seized power in September 2014:

Saudi Arabia is now being squeezed from three directions in the widening U.S.-Iran war — Iraq to its northeast, Yemen to its southwest, and Iran to its east. (On July 18, Tehran struck Prince Sultan Air Base near Riyadh, its first direct hit on Saudi soil in nearly four months.)

To understand why this matters beyond the price of oil, it helps to picture the crises as a set of nesting dolls.

The innermost doll is Yemen’s own civil war: a decade-old fight between the Houthis (officially known as Ansar Allah), who rule the populous north from Sana’a, and Yemen’s internationally recognized government, formally led by a body called the Presidential Leadership Council. The roots of this war trace to the 2011 Arab Spring revolution, which toppled Yemen’s long-serving president and left a power vacuum the Houthis moved to fill, seizing Sana’a in 2014. Saudi Arabia and a coalition of partners intervened in 2015 with the explicit aim of reversing that takeover and restoring the internationally recognized government, and the war has continued in one form or another ever since.

The middle doll is Saudi Arabia’s broader rivalry with Iran, a contest for regional leadership that has run since Iran’s 1979 Islamic Revolution, when Tehran’s new theocratic government began exporting a revolutionary, Shia-inflected challenge to the Gulf’s Sunni monarchies.

In the meantime, Al Jazeera is reporting Thursday that the Saudi-backed government shot down a drone operated by the Houthis over the city of Marib.

The country’s official SABA news agency said the Houthi targeting of Marib “embodies their escalatory approach and their insistence on continuing their terrorist acts” and that “the air defenses engaged the drone as soon as it entered the city’s airspace and successfully shot it down.”

Over in the Persian Gulf region, Iran officials have said a deal with Oman to reopen the Strait of Hormuz is “on the verge of being finalized” which entry and exit routes and protocols having been established. Iran continues to say that Washington has nothing to do with this, and warns against US military interference.

The White House seems to be quite serious about ensuring an offramp from the conflict this time, as the bombs have fallen silent for several days now…

But lots of unknowns and variables remain, as some international reports suggest a final deal could be signed as early as the close of Thursday, or at least by week’s end. Al Jazeera notes: “For Iran to reopen the Strait of Hormuz, the US must abide by the memorandum of understanding (MoU) it signed with Iran in mid-June, although that would not be enough on its own, Iranian Deputy Foreign Minister Kazem Gharibabadi said in comments carried by Iran’s IRNA news agency.”

Iranian Foreign Minister Abbas Araghchi has newly warned that “We’re ready to ‌retaliate, but finding a diplomatic solution is the best way to avoid wider escalation and destruction ​across ‌the ⁠region.

As for President Trump, he has freshly stated“I’d rather make a deal because I don’t want to kill people. But Iran cannot have a nuclear weapon.

Tyler Durden
Thu, 08/06/2026 – 09:00

Situational Awareness Returns With $400M Investment After Nearly Collapsing

Situational Awareness Returns With $400M Investment After Nearly Collapsing

Authored by Zoltan Vardai via CoinTelegraph.com,

Situational Awareness, the hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, reportedly invested $400 million in a privately held company days after it nearly collapsed under margin calls.

The fund invested $100 million in the same unnamed company in July, Bloomberg reported Thursday, citing people familiar with the matter. 

The latest investment was completed on Tuesday.

Cointelegraph has approached Situational Awareness for comment.

Assets at Situational Awareness fell about 78% in July, as an AI-stock sell-off triggered margin calls from Wall Street lenders.

The fund sought fresh capital and considered selling stakes in private companies, according to the Financial Times.

“We took the steps that were necessary to fight another day,” Aschenbrenner told investors in a letter on Friday.

“But our fund must always be structured such that we can take a loss and fight another day. I will make it my mission to ensure that we learn the necessary lessons from this experience.”

The fund subsequently sold most of its public equity portfolio to Ken Griffin’s Citadel, allowing it to repay lenders and retain its private holdings.

Situational Awareness had invested heavily in power and data centers supporting AI, including Bitcoin miners expanding into AI computing.

A May 18 filing with the US Securities and Exchange Commission covering holdings as of March 31 showed about $1.11 billion in positions across seven Bitcoin mining stocks, including IREN, Core Scientific, Riot Platforms and CleanSpark.

Tyler Durden
Thu, 08/06/2026 – 08:50

Initial Jobless Claims Remain Near 57-Year Lows

Initial Jobless Claims Remain Near 57-Year Lows

The number of Americans filing for unemployment benefits for the first time held below 200k again last week…

…basically hovering at its lowest since 1969…

Pennsylvania and New Jersey saw claims rise the most last week while North Carolina and Ohio saw the biggest decline…

Continuing jobless claims ticked up, just above 1.8 million Americans…

After ADP’s disappointing job additions, it appears the ‘low hire, no fire’ economy is entrenched.

Will tomorrow’s payrolls print confirm that?

Tyler Durden
Thu, 08/06/2026 – 08:40

“In Uncharted Waters”: The SpaceX Lockup Expiration Begins

“In Uncharted Waters”: The SpaceX Lockup Expiration Begins

SpaceX shares are hovering near record lows after the company’s first earnings report as a publicly traded company beat expectations. However, as we noted Tuesday, Thursday’s first lockup expiration is likely the more significant near-term catalyst than earnings.

The first insider share lockup expires today and more than doubles the float from about 639 million to 1.55 billion. That means about 911.5 million shares of new supply are inbound for the market.

HSBC analysts Nicolas Cote-Colisson and Charlie Rothbarth recently mapped out the staggered lockup-expiration schedule:

SpaceX’s IPO prospectus indicated that 555,555,555 shares would be issued to constitute the free float. We understand that the underwriters have exercised their option to purchase additional shares of Class A common stock in full, so the free float would have extended to 638,888,888 shares.

We identify 4,678m locked up shares and another 8,160m shares subject to an extended lockup. Based on the information provided by the SpaceX prospectus dated 12 June 2026, we calculate that 912m shares could be available for sale in the public market from 6 August 2026, compared with 640m shares constituting the free float at present. The free float would increase from 4.9% at present to 11.8%.

Another release event could occur on the same day depending on SpaceX shares trading above USD175.5 for at least five of 10 consecutive trading days ending on 4 August 2026 (i.e. between 22 July and 4 August 2026). The table below provides further event/date triggers for subsequent share releases.

Those restricted shares are currently owned by funds and individuals that have participated in the private rounds of financing and may be inclined to keep their shares. But we think investors should be aware of this.

Lockup expiration roadmap:

via HSBC

We’ve never seen anything like it. We’ve never seen anything of this scale, and we’ve never seen a lockup phased in this way,” Peter Singlehurst, head of Baillie Gifford’s private companies team, which first invested in Musk’s company in 2018, told Bloomberg. “We’re in uncharted waters.”

The incoming wave of supply has attracted short sellers to pile bearish bets on SpaceX. Data compiled by S3 Partners through Tuesday’s close shows that 35% of the float is sold short.

That short interest is so concerning to Musk that he even felt compelled to comment and taunt bears hours before earnings on Tuesday.

“I try to warn them, but they just double down…,” Musk wrote in an X post responding to a report citing proprietary data from S3 Partners.

Shares initially rallied following Musk’s comments but have since reversed course, sliding back toward the $109 level. On Monday, the stock touched a record low of $104.83, leaving it 22.4% below its $135 offering price and 53.5% beneath its June peak of $225. The selloff has erased more than $1 trillion in market value.

Here’s how Wall Street currently views the stock:

A large trading desk told us earlier this week that its team has yet to initiate any buy orders but may begin considering a long position once the first lockup expiration is underway.

Tyler Durden
Thu, 08/06/2026 – 07:45

Researcher Finds Backdoor In Chinese-Made Routers Sold Worldwide

Researcher Finds Backdoor In Chinese-Made Routers Sold Worldwide

Authored by Evgenia Filimianova via The Epoch Times,

Cybersecurity company VulnCheck said on Aug. 5 that it has found that more than 20 models of a Chinese-made wireless router sold worldwide contain a hidden backdoor that could allow unauthorized access to devices connected to the network.

File photograph of ethernet cables running from the back of a router in Washington on March 21, 2019. Mandel Ngan/AFP/Getty Images

The finding adds to growing Western concerns about cybersecurity risks posed by Chinese-made networking equipment. Western governments have warned for years about hackers exploiting such devices, and U.S. regulators moved this year to restrict imports of foreign-made routers.

Jacob Baines, chief technology officer at VulnCheck, who found the backdoor, said in a blog post that the vulnerability, dubbed “Endlessdoors,” affects routers manufactured by Shenzhen Zhibotong Electronics Co. and sold under the Zbtlink and Wiflyer brand names.

Routers serve as the gateway between internet-connected devices and the wider internet, directing traffic to computers, smartphones, smart televisions, cameras, and other connected equipment. Because routers manage internet traffic between connected devices and the wider internet, vulnerabilities affecting them can expose entire home or business networks.

Baines estimates that at least 100,000 such routers are deployed worldwide. The backdoor Baines discovered automatically “dials the same tiny set of endpoints,” Baines said in a blog post on the company’s website. Whoever controls those domains could take control of the router and potentially use it to access other devices on the same network, he said.

Baines said most people who order this router and use it for their small business or home office would likely have no clue that it could allow this sort of access.

“If I have it in my lab, in my lab at my university, you just invited them straight into your lab and they can roam the network as they choose,” Baines said. “The capabilities are devastating.”

Western governments have warned about Chinese-linked hackers abusing small office and home office routers and other internet devices to gain access to networks for later intrusions as well as cyberespionage.

Beijing regularly denies condoning or carrying out cyberattacks or cyberespionage.

The Epoch Times reached out to Shenzhen Zhibotong Electronics/Zbtlink for comment but didn’t receive a response by publication time.

US Scrutiny

The findings come as U.S. officials continue to increase scrutiny of networking equipment manufactured by companies with links to China.

In March, the Federal Communications Commission (FCC) announced restrictions on imports of certain foreign-made consumer routers over national security concerns.

The FCC said in a March 23 statement that foreign-made routers had been exploited by malicious actors to target U.S. households, disrupt networks, conduct espionage, and steal intellectual property.

“Foreign-made routers were also involved in the Volt, Flax, and Salt Typhoon cyberattacks targeting vital U.S. infrastructure,” it added.

In February, Texas filed a lawsuit against TP-Link Systems, alleging the networking company exposed American consumers’ devices to Chinese regime access.

In response to the lawsuit, TP-Link Systems, which was spun off from a Chinese company, said it would “vigorously defend” its reputation, called the allegations “without merit,” and added that the Chinese communist regime has no form of ownership or control over the company, its products, or user data.

Risk for Networks

VulnCheck on Wednesday published a list of 20 affected models and urged organizations to determine whether any remain deployed in their networks.

VulnCheck said users should identify affected devices by their model numbers rather than the brand name because Zbtlink manufactures routers for other companies under original equipment manufacturer (OEM) and original design manufacturer (ODM) agreements.

The company recommended replacing affected devices where possible, restricting remote management access, and installing firmware updates if security fixes become available.

In this photo illustration, a hacker types on a computer keyboard on May 13, 2025. Oleksii Pydsosonnii/The Epoch Times

Tyler Durden
Thu, 08/06/2026 – 07:20