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Tuesday, August 18, 2026
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Largest US Power Grid Declares Emergency To Prevent Blackouts

Largest US Power Grid Declares Emergency To Prevent Blackouts

A mega heat dome is set to descend on the eastern half of the U.S., prompting the Energy Department to issue two emergency orders to reduce the risk of rolling blackouts in the Mid-Atlantic area as PJM Interconnection braces for record power demand.

DOE’s first order directs the PJM region, which serves 67 million people across 13 states, “to dispatch specified units and to order their operation as needed to maintain reliability.”

The second order states that PJM, working with transmission owners and electric distribution companies, must use backup generation as a last resort before or during a Level 3 energy emergency.

Energy Secretary Chris Wright said, “Maintaining affordable, reliable, and secure power in the PJM service territory is non-negotiable.”

Bloomberg’s forecast for maximum temperatures across the Washington, D.C., metro area could average in the low triple digits through Saturday.

The hot temperatures, beginning tomorrow, will increase cooling demand and boost power demand on the PJM grid, potentially straining the system during peak late-afternoon hours. Concerns about grid reliability have risen as data center buildouts are blamed for soaring power bills – yet aging grids and climate policie should also be blamed. 

Tyler Durden
Tue, 06/30/2026 – 18:00

The Kids Are Not Okay With AI, And They Know It…

The Kids Are Not Okay With AI, And They Know It…

Authored by Kay Rubacek via The Epoch Times,

Eric Schmidt hadn’t finished the word “artificial” before the booing started.

A child uses a laptop in a file photo. Alain Jocard/AFP/Getty Images

The former Google CEO stood at the University of Arizona’s commencement last month, ready to deliver the kind of speech he had probably given a dozen times before: AI as the next great transformation, graduates as its rightful authors.

He got as far as telling them the technology would “touch every profession, every classroom, every hospital, every laboratory, every person, and every relationship you have.” The boos rose before he could finish his own sentence. “I can hear you,” he said gently. The boos continued, as did Schmidt, who was unable to fully conceal the awkward embarrassment.

He wasn’t the only one. A week earlier, at Middle Tennessee State University, Big Machine Records CEO Scott Borchetta told graduates that “AI is rewriting production as we sit here.” The boos from graduates started immediately. He responded with tough love: “I know it. Deal with it.” But the boos only grew louder.

A week before that, real estate executive Gloria Caulfield barely got through the phrase “next industrial revolution” at the University of Central Florida before the crowd erupted. “Okay, I struck a chord,” she said, turning around with her hands up in disbelief and clearly caught off guard.

They were all caught off guard. This isn’t how graduations usually go.

Older generations had their own frustrations with the people steering their world, but they rarely stood up at their own commencement, in front of their families, and told a stranger they didn’t believe them or what they had to say about their future.

It would be easy to read the response as simple nerves about a tough job market and leave it there. But when you look more closely at how this generation actually lives with technology, their worldview takes a different form.

A recent Gallup survey found that Gen Z’s use of AI has leveled off, but their feelings about it have not. Excitement has fallen 14 points in a year, to just 22 percent. And anger has climbed 9 points, to 31 percent. Even among those who use it every day, enthusiasm dropped by 18 points over 12 months. Eight in ten now believe AI will make learning harder. Forty-two percent believe it will hurt their ability to think carefully. Only a quarter believe it will help. Nearly half say the risks of AI in the workplace now outweigh the benefits, which is a sharp rise from the year before. And when asked whose work they actually trust, 69 percent said human work. Only 3 percent said AI’s work alone.

A separate Gallup study found that 47 percent of college students have seriously considered changing their major because of what AI is doing to the job market. Sixteen percent have already changed. The students who use AI most, such as in technology, business, and engineering, are also the ones most likely to be reconsidering whether they picked the right field at all.

The kids know the use of artificial intelligence is built into every device they touch throughout their day. It is being wired to replace the skills they were once told to seek in every career they had been advised to pursue.

They know it is being promised to make their lives “better” and “easier,” while they feel it is chipping away at their cognitive abilities and sense of challenge and fulfillment, and the adults in the room – or those being offered as role models on commencement stages – are wondering why youth aren’t as excited about AI as they expected.

And we should have seen this coming. According to researchers, Gen Z is the first generation in modern memory to test less cognitively capable than their own parents did at the same age, despite having more schooling and more access to information than any generation in human history.

In January, neuroscientist Jared Cooney Horvath told the U.S. Senate Commerce Committee that attention, memory, literacy, numeracy, reasoning, general IQ – key cognitive performance indicators among young people – have stalled or reversed across much of the developed world over the past two decades. He points to classroom screens and education technology as the cause, arguing the brain was never built to learn the way these tools teach. More tools. More data. Less mind.

For nearly two centuries, every generation had tested smarter than the one before it. Researchers called it the Flynn effect, and it held through wars, depressions, and the collapse of empires. It was a 200-year winning streak. Horvath told lawmakers the streak is over.

The graduates booing those speakers are not confused about this. They are living it. They are the data.

A year ago, I wrote about a different version of this same generational response. Vinyl records were outselling CDs, mostly bought by people under 35. Journaling by hand, crochet, taking silent walks, and a trend called “Posting Zero,” in which young people stepped back from performing their lives online. That calm rebellion looked like withdrawal, but it has given way to something louder and bolder. It is a signal that we older folk need to pay attention to.

Older generations tend to see AI the way we see most new technology: as a tool that does or doesn’t work, that we adopt or resist on our own terms, in our own time. Younger generations don’t have that luxury of distance, and there is a fury at being told how to feel about it by people who built it, sold it, or profited from it first without understanding the consequences of using their youth as part of a larger experiment.

This next generation may not hit all the test scores that their forbears did, but they still have human wisdom intact. Children don’t get a vote on the experiments run on their own development, and yet these graduates found a way to cast their vote loudly. Either way, I hope their votes will be counted.

Kay Rubacek is an award-winning educator, filmmaker, author, and mother. Detained in a Chinese prison in 2001 for her human-rights advocacy, she has since dedicated her work to exposing the systems and ideologies that diminish human life and human sovereignty. She has been a contributor to The Epoch Times since 2010.

Tyler Durden
Tue, 06/30/2026 – 17:40

Wave Of Cybertruck Owners Report “Zero Ability To Charge” As Power Conversion System Nightmare Deepens

Wave Of Cybertruck Owners Report “Zero Ability To Charge” As Power Conversion System Nightmare Deepens

For months, several auto news outlets and EV forums and auto-focused YouTubers have been tracking what some are calling a hidden time bomb” inside Tesla’s Cybertruck: a growing number of owner complaints linked to Power Conversion System failures.

The PCS failure, according to those reports, can paralyze charging and key electrical functions, in some cases leaving the roughly 7,000-pound stainless truck immobilized until service or replacement parts are available.

Tesla is risking a backlash from Cybertruck owners affected by Power Conversion System (PCS) failures. This prevents trucks from using Level 2 (AC) charging. While Tesla is aware of these issues, it has only offered a fix on a case-by-case basis rather than issuing a recall to replace the faulty parts across the fleet,” Autoevolution wrote in a report.

Here’s where things get weird. The report continued:

Tesla fans are always happy that the EV maker has far fewer recalls than other carmakers. On the other hand, critics point out that Tesla prefers to deal with failures quietly by forcing owners to sign NDAs. This makes it appear that Tesla EVs have fewer problems than other car models. It also allows Tesla to address failures without notifying the NHTSA and issuing a recall.

For Cybertruck owners, this approach has become increasingly obvious during the past months. An unusually large number of Cybertruck owners have been affected by a wave of PCS failures that can prevent the truck from charging via AC. This negates one of the most important advantages of an EV: cheap overnight charging at home. The good news is that, in most cases, DC charging remains available.

Another report suggests that early 2024 and 2025 Foundation Series trucks are the most discussed, and there is concern that repairs could become expensive once the basic 4-year/50,000-mile warranty expires.

Auto blog Not A Tesla bluntly asked:

Where is the Recall?

Despite the clear pattern of failure affecting dozens of confirmed vehicles, and reports that some service centers proactively replace the PCS when trucks come in for unrelated tire or trim service, there is no official NHTSA recall or proactive owner notification specifically addressing the PCS hardware defect.

For now, early Cybertruck owners are left hoping their PCS either fails safely within the initial 50,000-mile warranty window or survives long enough for Tesla to officially acknowledge the defect and issue a sweeping recall.

What X users are saying:

Good luck with a timely fix…  

YouTube channel The RED Review warned:

The Power Conversion System (PCS2) is quietly breaking down on Cybertruck owners across the country — bricking their trucks, killing AC charging, and leaving them with a $2,500+ repair bill that Tesla won’t warn you about. There’s no recall yet, and most owners have no idea it’s happening.

Watch: Your Cybertruck Has a Hidden Time Bomb (PCS2 Failure)

And another report:

We hear that Tesla is providing free Supercharging to affected Cybertruck owners, and service staff have acknowledged this as a growing problem.  

Tyler Durden
Tue, 06/30/2026 – 17:20

Buffett Delays Midyear Donation To Gates Foundation Amid Epstein Controversy

Buffett Delays Midyear Donation To Gates Foundation Amid Epstein Controversy

Warren Buffett has funneled roughly $48 billion into the Gates Foundation from 2006 to 2025, typically through annual midyear transfers of Berkshire Hathaway shares. However, this year, for the first time in two decades, Buffett is reportedly delaying his usual donation as he waits for the outcome of a review into the foundation’s ties to the late sex offender Jeffrey Epstein, according to a new Wall Street Journal report.

The delay comes as Buffett’s relationship with Gates, a longtime friend, has reportedly become strained since the release of Justice Department files related to Epstein.

Buffett said in March that he had not spoken with Gates since the files were released and wanted to see what else emerged before making his annual giving decision.

WSJ noted:

Whatever decision Buffett makes, it isn’t expected to affect his annual contributions to his family’s foundations, including those run by his three children and the Susan Thompson Buffett Foundation, named after his first wife, according to the people familiar with the matter.

This year, a series of DoJ documents sparked scrutiny of Gates’s ties to Epstein. He recently appeared at a congressional hearing and said that his meetings with Epstein were “a grave error in judgment.”

Bill Gates with an unidentified but manifestly well-proportioned brunette number, in a photo from the Epstein files (House Oversight Committee)

Related:

Bill Gates with an unidentified but manifestly well-proportioned brunette number, in a photo from the Epstein files (House Oversight Committee)

WSJ recently reported that the Gates Foundation slashed 500 jobs, or about 20% of its staff, as the left-wing NGO has come under fire for Gates’ ties to Epstein. Back in February, Gates pulled out as a keynote speaker at a high-profile global AI summit in India.

The Gates Foundation CEO recently told employees during a town hall event that the Gates-Epstein relationship had deeply tarnished the nonprofit’s reputation, according to a Financial Times report.

But it is not just the Gates-Epstein ties that Buffett should be concerned about. Late last year, the Gates Foundation had to publicly sever ties with philanthropic adviser Arabella Advisors, which engineered a sprawling “dark money” network of nonprofit entities, including the New Venture Fund, Sixteen Thirty Fund, Hopewell Fund, and Windward Fund, that continues to wage color-revolution-style operations against President Trump.

All in all, it is not looking great for the Gates Foundation.

Tyler Durden
Tue, 06/30/2026 – 16:40

The New Socialists: Elite, Ungrateful, And Toxic As Ever

The New Socialists: Elite, Ungrateful, And Toxic As Ever

Authored by Victor Davis Hanson via American Greatness,

Win some blue-state and blue-city races, and the cocky new socialist Jacobins believe that they have either already taken over the Democratic Party or will soon absorb it. And in reaction to these new swarms, an increasingly terrified and ossified old Democrat guard either limps away from the hive or invites them in to take over more.

It is fascinating but ultimately depressing to watch old-style Democrats say or do anything to avoid the new mob of Robespierres. Democrat candidates who recently begged for a Schumer/Pelosi/Jeffries endorsement now are telling them to get in line at the guillotine.

Jewish American Democrats are terrified that what happened to the primaried and defeated Rep. Dan Goldman of New York, an arch-Trump hater, could befall them. Goldman’s obnoxious showboating hatred of Trump and championing of neo-socialist agendas offered no defense against the Jacobins’ antisemitism and hatred of Israel.

A number of Jewish Democrat candidates, like wannabe California congressman Scott Wiener, are backing off from Israel and now join the “genocide!” mob. Wiener hopes that the throng will reward his new anti-Israel position by overlooking the now inconvenient fact that to the anti-Semitic Democrat base he is still Jewish.

Some of the rich, likewise, think they can escape the guillotine – the various proposed taxes on “billionaires” and “millionaires” on their net worth or unrealized capital gains or plans to confiscate private properties deemed “not in the people’s interests.” They will either flee to Florida or join the mob and hope their donations spare them from the blade.

The hard socialist agenda, which lacks even 50 percent popular support, is often recognizable despite efforts to conceal it until after elections. Given the clickbait lunacy of these socialists’ mindset, their true views often trickle out from prior social media posts, hot mics, leaks, and occasional temper-tantrum outbursts (cf. Mamdani’s “monsters” or Talarico’s “I hate Christianity” or Platner’s litany of unapologetic racist, antisemitic, and misogynistic outbursts).

In general, the socialist challenge is to “fundamentally transform America” into a statist, inert redistribution machine – nuttier than socialist Europe, a prescription for North Korean-style poverty, and completely unrecognizable to the Founders and most contemporary Americans. As far as we can distill, here are their agendas:

  1. The New Demography: Open borders, massive, unaudited new immigration ending the distinction between mere residence and citizenship.
  2. Dismantling the “System”: Packing the court, destroying the Electoral College, ending the filibuster, bringing in new left-wing states, defunding the police, ensuring same-day registration/voting, no voter ID, foreign nationals residing here being eligible to vote.
  3. The Islamization of America: Ending America’s traditional friendship with Israel and realigning the U.S. with the West Bank, Hamas, Hezbollah, and their autocratic and illiberal, terrorism-sponsoring Muslim regimes. Restoring massive USAID subsidies to fund left-wing takeovers abroad and mainstreaming now overt harassment of Jews at home.
  4. Old Communism: The government takeover of housing and utilities, targeted expropriation of private property, new punitive taxes on net worth and unrealized capital gains. Wild talk of nationalizing airlines and all health care.
  5. Statism: Massive new entitlements, free college, canceling $1.7 trillion in student loans, more federal acquisition of private lands, rent freezes.
  6. Reparations: Compensation for victims of alleged “white privilege,” institutionalization of radical identity politics, and racial, ethnic, and sexual orientation chauvinism. Third world hatred of supposed white oppressors, justifying reparatory preferences for the non-white “oppressed.”
  7. Globalism: Pledging solidarity with socialist/communist movements abroad while despising Western civilization in general and the U.S. in particular.

Once “Mayor” Zohran Mamdani took control of New York, he began promising to confiscate rental properties from landlords and to focus on “white” neighborhoods, and he no longer disguised his innate hatred of Jews.

Governor Spanberger of Virginia dropped her moderate false face and began radically ramming through hard-left executive orders to ensure more DEI, higher taxes, and anti-ICE hysterics. After being elected, Seattle Mayor Katie Willson gushed “bye-bye” to the billionaire entrepreneurs who are fleeing from Washington state’s new “millionaire’s tax.” She mocked their departure and cared not a whit that her now-socialist city would further descend into a West Coast Detroit or Baltimore.

Socialists hide their revolutionary anger with banal pleasantries. We have become well accustomed now to the “socialist smile,” emblemized by the grinning Mamdani or the faux-happy face of James Talarico. Usually, the new touchy-feely socialists chuckle loudest when a rare reporter presses them on their past lunatic harangues, which are then laughed off as hysterias from paranoid right-wing minds.

Sometimes socialists embrace the hard commissar style, like the perpetually venomous Maine Senate candidate Graham Platner, who ridicules journalists, lies flagrantly, and takes back none of his hate-filled rants.

Rep. Rashida Tlaib (D-MI) perpetually screams rather than talks, usually venting her monotonous hatred for the Jewish state. Her latest socialist champions are the Antifa criminals just sentenced to long prison sentences for their conspiracy to murder ICE officers.

The more Ilhan Omar is caught trafficking in antisemitic tropes, denying alleged immigration fraud schemes, or filing preposterous federal financial disclosure forms, the more defiant her shouts of “racist” become.

The newly emerging socialists, like recent congressional nominees Darializa Avila Chevalier or Analilia Mejia, can never explain why their parents left socialist paradises in Latin America to come to cutthroat capitalist America.

Nor do they explain to us why and how such a supposedly toxic, racist nation would extend such generous scholarships and DEI preferences to both. They suffer from the Joy Reid/Ilhan Omar/Rashida Tlaib/AOC socialist syndrome: parents flee socialist paradises of indigenous peoples to ensure their children might thrive in a settler/colonialist and capitalist U.S. whose magnanimity they interpret as proof of guilt that is therefore to be reciprocated not with gratitude but with ever more venom.

And once the second-generation socialists joined the privileged elite classes of America, these boutique radicals decided to tear down the very system that nurtured them, without ever expressing a wish to return to the socialist paradises of their parents’ homelands.

What drives the sheer hatred of the new upscale socialists, and why are they in vogue now?

There are three constants in all these new socialists, as we have seen recently from the recent nationwide primary elections, as well as the daily street theater.

One, they hate the United States – loathe its foundation, hate its maturation, and despise the current American nation. They detest especially the middle classes, who lack both the romance of the dependent poor and the supposed “refinement” and “culture” of their own elite socialist aristocracy. And the more they demagogue “white privilege” and “white supremacy,” the more they feel that the river of exemptions, set-asides, preferences, and special considerations will flow to them from a supposedly guilty nation.

The socialists’ hatred of America is becoming clearer as middle America embraces the 250th anniversary of the nation, highlighted by throngs of World Cup tourists who cannot praise highly enough the decency, amicability, and prosperity of America between the coasts. So, what is a perennial socialist PhD candidate, or a failed “community organizer,” or NGO flack to do when millions happily suffer from “false consciousness” and have failed to listen to their Marxist handlers?

The socialist architects of the current Jacobin takeover see no contradiction in that, like moths harkening to flames, they cannot get enough of the American good life, conspicuous consumer consumption, and merit badges of success like their Ivy League-branded kids, letters and titles after their names, and the right zip code for their first and second homes.

Every socialist buffoon reminds us almost daily of Alexis de Tocqueville’s droll warning that most people would prefer everyone to be absolutely equal and worse off than all better off, but with some better off than themselves.

The socialists’ hatred of America is also revealed in their envy. Unlike the poet Hesiod’s notion of a “good” envy – embodied in the American tradition of emulation and admiration of those richer than themselves – they buy into the “bad” envy of wanting to destroy those who are brighter, more successful, richer, and more essential to America than themselves, whether an Elon Musk, a Larry Ellison, or a Jeff Bezos.

Second, socialists still have little current power other than their control of institutions such as K-12 education, academia, the media, foundations, the bureaucracies, the corporate boardrooms, professional sports, entertainment, and popular culture. Perhaps they wish to end up like the lifelong government employee, Bernie Sanders, who for a half-century shook his two upraised fists at America, screamed at the greed, and ended up with three homes and membership in the millionaire class.

Socialists and communists have no confidence in winning over the majority of the American people, at least outside blue-city and blue-state districts. Hence, their efforts to change balloting laws, destroy the border, import angry, poor, new constituents, stage violent street confrontations, and either celebrate or contextualize assassinations from the attempts on Trump to the killing of Charlie Kirk.

Sane Democrats would reexamine 2024 and conclude the party was far too left-wing and the antidote was a return to the winning formulas of Bill Clinton. But unhinged socialists and communists would claim that 2024 was lost because they were not far-left enough. So we are to believe that Americans scared of Harris’s poorly disguised radicalism can be won over by scaring them even further? A communist in 2028 can win over America when a socialist in 2024 could not?

Third, Donald Trump has driven the Left so crazy that they have gyrated from Obama’s four-mansion socialism to unapologetic hardcore Trotskyism. Why? Their pathological hatred transcends Trump’s background, his appearance, his accent, his tweets, and even his appeal to the despised “clingers, irredeemables, deplorables, chumps, dregs, and garbage.”

Of course, Trump is a conservative, so he suffers the same left-wing slurs of “fascist” and “Nazi” that met Ronald Reagan and George W. Bush. But in his second term, Trump, quite unlike most Republican presidents, is not addressing just symptoms but also the causes and fuel of the socialist project.

Trump did not just jawbone the “fake news” but cut off subsidies to NPR and PBS, suing the media when they deliberately engaged in baseless character assassination. He did not just close the border but began deporting the criminal cohort of Biden’s 10 million illegal entrants, sought to end birthright citizenship, made would-be refugees apply for entry in their home country, ended catch-and-release, and will wall off or electronically secure the entire southern border from the Pacific to the Gulf of America.

He did not just rhetorically critique DEI; he banned it from the federal bureaucracy. Unlike past Republicans, Trump did not merely critique elitist campuses; he leveraged them to behave like normal people – taxing endowments, banning racist DEI protocols, prohibiting grant surcharge scamming, and demanding they abide by the Bill of Rights. He slashed the left-wing USAID money machine rather than just whining that it subsidized America’s worst critics abroad.

In other words, the socialists are enraged not just because they despise the U.S. and lack the power to turn America into Cuba or because they have not yet stabbed, poisoned, shot, decapitated, or blown up the hated Trump, as their followers, celebrities, and a few of their leaders have so often boasted.

The real rub is that Trump is their flip side – not a revolutionary but a counterrevolutionary. He seeks to overturn root and branch the entire 100-year progressive project and ensure America’s insidious slouching toward socialism ends with his term – for good. The more they brag about our collective socialist tomorrow, the more Trump incessantly dismantles socialism today.

So far, they haven’t stopped him yet – but their lidless eyes never close.

Victor Davis Hanson is a distinguished fellow of the Center for American Greatness and the Martin and Illie Anderson Senior Fellow at Stanford University’s Hoover Institution. He is an American military historian, columnist, a former classics professor, and scholar of ancient warfare.

Tyler Durden
Tue, 06/30/2026 – 16:20

Katz Says Israel Could Be Back At War With Iran ‘Tomorrow’

Katz Says Israel Could Be Back At War With Iran ‘Tomorrow’

Authored by Dave DeCamp via AntiWar.com,

Israeli Defense Minister Israel Katz said on Monday that the Israeli military was ready to restart the war against Iran and that it could happen as soon as “tomorrow”.

Katz vowed that Israel would bomb Beirut’s southern suburb of Dahiyeh if Hezbollah rockets were fired into northern Israel and that the IDF was prepared to respond if that prompted Iranian attacks on northern Israel.

Katz visiting Israeli troops in southern Lebanon on February 2, 2025. Israeli Defense Ministry photo

“There is no reality in which Israel will not respond to an Iranian attack,Katz said, according to Israel Hayom. “The equation stands – rocket fire on Israeli communities means an immediate assault on the Dahiyeh. The possibility exists that Iran will attack Israel not only in response to strikes in the Dahieh. We could find ourselves at war with Iran tomorrow.”

The Israeli minister said that a second potential scenario that would lead to a renewed war with Iran would be if President Trump decides to restart the bombing campaign.

“There are two scenarios that would resume full-scale fighting – a decision by President Donald Trump or Iranian missile fire. This could happen in two days,” he said.

Katz also insisted that Israel was ready to fight Iran on its own, which he called a “blue and white operation,” despite the fact that Israel is extremely reliant on US air defenses.

“The IDF is just waiting for it. We have selected targets to strike in Iran, and the IDF is prepared and alert, but we will not interfere with the US President’s current moves vis-a-vis the Iranians,” he said.

Katz also boasted about the destruction of Shia Muslim villages in southern Lebanon. “It was clear during Operation Silver Plow that the Shia villages along the contact line had to disappear,” he said, using the codename for Israel’s recent operations in southern Lebanon.

“We are currently in a situation where there is nearly 100% destruction in the contact-line villages of the western and central sectors. In the eastern sector, we are at 73% of villages destroyed,” Katz added.

Tyler Durden
Tue, 06/30/2026 – 15:40

Trading Giant Susquehanna Lost Over $70 Million To Mystery Insider Traders

Trading Giant Susquehanna Lost Over $70 Million To Mystery Insider Traders

Trading giant Susquehanna Investment Group said it was attempting to unmask the identities of individuals it claims made at least $100 million trading on inside information about a Chinese government crackdown on cross-border brokerages last month.

The Pennsylvania-based market-maker, which says it was the counterparty on most of the alleged insider trades, sued 100 John Doe defendants in Manhattan federal court on Monday. Susquehanna is seeking to recover more than $70 million it says it lost to what it believes is one of the largest insider-trading schemes in recent memory, Bloomberg reported.

While it’s unusual for a major Wall Street firm to sue as a victim of insider trading – which is normally policed by the Securities and Exchange Commission and federal prosecutors – in suing the dozens of unknown traders, aka “John Does”, Susquehanna is using a tactic sometimes employed by the SEC to seek information it hopes will identify the alleged insider traders.

According to Susquehanna, many of the trades were made from accounts at Interactive Brokers Group Inc., as well as the platforms of two firms targeted in the Chinese crackdown, Futu Holdings and Up Fintech’s Tiger Brokers (we discussed this in May in “China Launches Crackdown On Cross-Border Stock Selling To Block Capital Outflows“).

Susquehanna is seeking an order freezing certain accounts at those brokerages and authorizing subpoenas of them.

Susquehanna, which is one of the largest US market-makers and is active in options, stocks, energy, bonds and foreign exchange markets, said in an SEC filing that its equity positions in the first quarter totaled more than $893 billion. The closely held company based in the Philadelphia suburbs has made its co-founder Jeff Yass one of the richest people in the world with a fortune estimated at $92 billion, according to the Bloomberg Billionaires Index.

Susquehanna’s allegations focus on 200,000 short-dated put option bets placed in the two weeks before the Chinese government’s May 22 announcement that it would punish firms helping mainland Chinese clients illegally invest overseas. The statement was released by eight regulators, including the China Securities Regulatory Commission, the central bank and the public security ministry.

Almost simultaneously, regulators released a statement singling out Futu, Tiger and the unlisted Long Bridge Securities for operating in China without onshore licenses. Futu and Up Fintech’s shares plummeted in response.

In its suit, Susquehanna alleges several accounts engaged in a pattern of “high risk, high reward trading” designed to take advantage of the projected drops. In one example, a trader purchased the option to sell Futu shares at $102.45 — down from $124.58 — up to a week after the Chinese government’s announcement.

There was “powerful evidence” the traders were using material non-public information to inform their well-timed bets, Susquehanna alleges. It said the tips could have come from Chinese securities regulators or personnel at Futu or Up Fintech.

The traders collectively purchased $12 million in options, yielding a profit of more than $100 million and a return of more than 900%.

“By way of comparison, Raj Rajaratnam’s infamous insider trading scheme at Galleon Management yielded only approximately $53 million in profits,” Susquehanna said in its complaint, referring to the hedge fund manager convicted in 2011.

According to Bloomberg, the alleged insider traders’ use of Interactive Brokers could prove awkward for that firm. The suit doesn’t accuse Interactive Brokers of wrongdoing, but founder Thomas Peterffy, also one of the world’s richest men with an estimated $104 billion fortune, is an outspoken supporter of legalizing insider trading.

“I’m in favor of not having any rules against insider trading. I would like all the information out there as soon as it’s available,” he said in an recent interview on Bloomberg. “Because look, as a society, we are better off knowing as soon as possible anything that is knowable.”

Tyler Durden
Tue, 06/30/2026 – 15:00

Here We Go Again: Taiwan Raids Super Micro In AI Chip Probe

Here We Go Again: Taiwan Raids Super Micro In AI Chip Probe

Taiwan has intensified its efforts to stop advanced AI hardware from reaching China, carrying out raids at the local offices of Super Micro Computer and several businesses connected to an investigation into the movement of servers equipped with NVIDIA chips, according to Bloomberg.

Investigators searched multiple business locations and the homes of six individuals as part of the inquiry. While prosecutors did not publicly identify those involved, a source familiar with the matter said Super Micro’s Taiwan office was among the locations searched. The company said it is fully cooperating with investigators and emphasized that it works to safeguard its technology and ensure its products are sold in compliance with applicable laws. Shares fell about 8% following the announcement.

Bloomberg writes that the probe also reached Chief Telecom and Albatron Technology. Both companies acknowledged the searches, saying day-to-day operations were unaffected, although Albatron’s shares dropped sharply.

The case marks another step in Taiwan’s broader campaign to prevent restricted AI technology from being diverted to China. Earlier this year, authorities arrested three suspects accused of using fraudulent export paperwork involving Super Micro servers loaded with Nvidia AI processors. Officials believe at least one shipment ultimately made its way to China through Japan, while dozens of additional servers were intercepted before they could leave Taiwan.

Taiwan currently lacks a law that specifically criminalizes exporting AI chips to China, limiting prosecutors to pursuing related offenses such as document fraud. Lawmakers are now considering tougher export rules that would make such shipments illegal and give authorities stronger enforcement powers as Taiwan moves to more closely mirror U.S. restrictions on advanced semiconductor technology.

The latest developments also add to the uncertainty surrounding Super Micro.

Ever since Hindenburg Research published its report less than two years ago, “Super Micro: Fresh Evidence Of Accounting Manipulation, Sibling Self-Dealing And Sanctions Evasion At This AI High Flyer,” the company has struggled to shake a steady stream of damaging headlines.

The short seller accused Super Micro of accounting irregularities, undisclosed related-party transactions involving family members, export control concerns, and other governance failures, allegations the company has disputed.

Since then, Super Micro has faced delayed financial filings, scrutiny from regulators and most recently one of its co-founders charged in a scheme to divert roughly $2.5 billion in advanced Nvidia chips to China, according to an indictment unsealed earlier this year.

Tyler Durden
Tue, 06/30/2026 – 14:45

Deutsche Bank: Tesla’s Q2 Vehicle Deliveries Tracking Above Consensus Expectations

Deutsche Bank: Tesla’s Q2 Vehicle Deliveries Tracking Above Consensus Expectations

Tesla could be on track to deliver a stronger than expected second quarter, according to a new research note from Deutsche Bank analyst Edison Yu and his automotive team.

The firm now expects Tesla to report approximately 416,000 vehicle deliveries during the second quarter of 2026. That estimate is about 10,000 vehicles above the company compiled consensus and sits modestly ahead of most Wall Street expectations, which generally range between 413,000 and 420,000 deliveries.

If Deutsche Bank’s forecast proves accurate, Tesla would post delivery growth of 16% from the first quarter and 8% from the same period a year ago. The results would mark a meaningful rebound following a weaker start to the year. According to the analysts, international markets are doing most of the heavy lifting.

Europe is expected to be Tesla’s strongest region, with deliveries rising nearly 40% from a year ago. Deutsche Bank believes improving demand across the region is the primary reason the company is on pace to outperform expectations.

China is also expected to contribute to the stronger quarter, although growth there is forecast to be much more modest at roughly 3% year over year. Registration data through May tracked close to 74,000 vehicles, while the bank estimates total second quarter deliveries from China will reach approximately 133,000 units. June order activity has also remained solid, with roughly 40,000 orders recorded through June 21. Deutsche Bank believes there is enough time left in the quarter for deliveries to reach its estimate.

North America remains the weakest part of Tesla’s business. The bank expects deliveries in the region to decline about 21% from the same quarter last year. Even so, volumes are still projected to improve about 7% compared with the first quarter, suggesting conditions have stabilized somewhat despite softer demand.

Beyond the quarter itself, Deutsche Bank remains constructive on Tesla’s full year outlook. The firm believes the company can deliver roughly 1.63 million vehicles during 2026, which would keep annual deliveries essentially flat even without a meaningful contribution from any new vehicle models.

The report suggests Tesla may not need a major product launch to stabilize sales this year. Instead, stronger demand in Europe combined with resilient performance in China could be enough to offset continued weakness in North America.

Investors will now be watching Tesla’s official delivery report to see whether the company’s international strength is enough to produce another quarter that comes in ahead of expectations.

Tyler Durden
Tue, 06/30/2026 – 12:00

Trump Suggests He May Not Sign Bipartisan Housing Affordability Bill

Trump Suggests He May Not Sign Bipartisan Housing Affordability Bill

Authored by Zachary Stieber via The Epoch Times,

President Donald Trump indicated on June 29 that he may not sign a bill that Congress passed that aims to make housing more affordable.

Trump told reporters at the White House in Washington that he has not decided whether to sign the housing bill, the 21st Century ROAD to Housing Act, which Congress approved in a bipartisan fashion earlier in the month and targets permitting times, boosts financial incentives, and aims to make it easier to obtain mortgages.

“I think it’s so unimportant compared to the Save America Act,” Trump said.

“To me, compared to the Save America Act, just about everything is a big yawn.”

Trump had been poised to sign the housing legislation, but canceled those plans so as to try to force Congress to pass the Save America Act, which would require voters to prove they are American citizens to vote in federal elections.

The House of Representatives has passed the act, but it has stalled in the Senate, where Democrats oppose it over concerns that it could exclude voters who meet the standards but lack the necessary documents.

House Speaker Mike Johnson (R-La.) said over the weekend that the housing bill would be transmitted to Trump on Monday and that he was confident it would become law.

Johnson said the bill was a priority for Republicans because it would bring down housing costs and reduce regulation.

Trump has said that concerns about affordability are overblown.

“They say, ‘Oh, he doesn’t realize prices are high,’” he said in a speech in December 2025.

“Prices are coming down very substantially. But they have a new word. They always have a hoax. The new word is affordability.”

He said more recently that he does not consider the financial situation of Americans when deciding on next steps in the war with Iran.

Trump said Monday at the White House, where he signed a directive expanding Americans’ ability to repair their own vehicles, that the housing bill had not yet been sent to him.

“It’s coming, I understand,” he said. “And then I’ll make a decision.”

Once Trump receives the bill, he has 10 days, excluding any Sundays, to veto or sign the legislation.

If he does not act within that period, the bill will become law automatically. If Trump vetoes the legislation, Congress can override the veto with a two-thirds vote in each chamber.

Tyler Durden
Tue, 06/30/2026 – 11:40