Bitcoin Is Back At $66K, But What Made It Feel Safe Is Still Broken
Two weeks ago, traders on X and on Reddit were posting “even Saylor is selling now.” Bitcoin (CRYPTO: BTC) had broken below $60,000 for the first time since the 2024 election, wiping $160 billion in crypto market value in a few days. The Fear and Greed Index hit single digits. The kind of panic that doesn’t leave so quickly.
Today, BTC is back at $66,000. Leverage has been flushed. ETF inflows have quietly turned positive. Whale wallets are pulling coins off exchanges. so, by most measures, the bounce looks real.
But there’s something else that the price chart doesn’t show: the story that held Bitcoin together for years just cracked. And BlackRock’s answer to that crack launched on Nasdaq this morning. Those two things, taken together, tell you more about where Bitcoin goes from here than any technical indicator.
The 32 Coins That Shook a $2 Trillion Market
On June 1, Strategy disclosed it had sold 32 Bitcoin between May 26 and May 31 to cover preferred stock dividends. The proceeds were about $2.5 million. But look at the company’s total Bitcoin position: 843,706 coins worth over $60 billion. That’s 0.0038% of their holdings, the kind of number that shouldn’t move anything. Less than a rounding error.
However, it moved everything.
Bitcoin dropped 14%. ETF outflows hit $4.3 billion across 12 consecutive sessions, a record streak. More than $800 million in leveraged positions got liquidated in a single day. And Strategy’s own stock fell nearly 6%.
None of that happened because just 32 coins changed the supply picture. Think of it like a bank run. Banks don’t collapse because everyone withdraws their money at once for rational reasons. They collapse because people stop believing the bank will be fine. The moment that belief cracks, it becomes self-fulfilling.
That’s what happened here. Since 2020, Strategy’s entire value to the Bitcoin market wasn’t just the 840,000 coins it held. More than that. It was the certainty that Saylor would never sell them. Every Bitcoin holder, consciously or not, was pricing in that promise. When it cracked, even by just 32 coins, the market didn’t reprice the coins. It repriced the whole belief.
And that belief doesn’t snap back in ten days. Saylor himself has said on a podcast that selling more this year is “not unlikely.” Prediction markets, which previously priced Strategy sales as nearly impossible, now treat them as near-certain. That’s a different company than the one the crypto world held in its head for five years.
The price recovered. But the certainty didn’t.
This chart shows the gap between Bitcoin’s price recovery and the market’s mood. BTC bounced back after the early-June drop, but the Fear and Greed Index stayed weak, showing that confidence lagged behind price even as the market stabilized. The vertical marker for Strategy’s 32 BTC sale …
Ben-Gvir appoints bereaved family members as official inspectors under terrorist death penalty law
National Security Minister MK Itamar Ben-Gvir has appointed six members of bereaved families from the Choosing Life Forum as official inspectors under the Death Penalty for Terrorists Law, Ben-Gvir confirmed on Wednesday.
Among those appointed are Herzl Hajaj, father of Lt. Shir Hajaj, who was murdered in the Armon Hanatziv ramming attack, and Boaz Kokia, father of Sgt. Ron Kokia, who was murdered in a terrorist attack in Arad.
The official inspectors will play a central role in overseeing the conditions of the terrorists sentenced to death, and are granted supervisory powers regarding the implementation of the law.
“The Death Penalty for Terrorists Law is intended to restore deterrence to the State of Israel and make clear to every terrorist that anyone who chooses to murder Jews will pay the highest possible price,” Ben-Gvir stated.
“No one is more deserving than families who have paid the heaviest price in the fight against terrorism to be part of the oversight mechanism for implementing the law. This appointment reflects recognition of the pain of terror victims and their right to be partners in the struggle for justice and deterrence.”
Law will allow inspectors to be present at execution
The law will also allow inspectors to be present during the execution of death sentences as part of their oversight and monitoring role.
“For years, we fought against the favorable conditions enjoyed by the murderers of our loved ones in order to create deterrence and prevent the next murder. I would like to thank National Security Minister Itamar Ben-Gvir for the revolution he has led regarding terrorists imprisoned in Israel. For years, terrorists enjoyed conditions and benefits that were beyond reason, while the families of those murdered and injured were left to cope alone with the pain and loss. Minister Ben-Gvir led a profound change in this policy and restored the understanding that a terrorist’s place is in prison under minimal conditions, not at a summer camp funded by Israeli citizens,” Herzl Hajaj said on behalf of the families.
“Our appointment as official inspectors is a direct continuation of that same approach. It sends a clear message that the State of Israel stands with the victims, not with the murderers. For us, this is a mission carried out in the name of our loved ones who were murdered and on behalf of all Israeli citizens. We will work to ensure that the law is fully implemented, out of commitment to justice, deterrence, and the security of the state. Terrorists must know that anyone who chooses to murder Jews will bear full responsibility for their actions, and the State of Israel will do whatever is necessary to protect its citizens and ensure that justice is done.”
Mortgage applications slip 3.8% as purchase demand stays ahead of 2025
Mortgage applications decreased 3.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending June 12, 2026.
On an unadjusted basis, the index decreased 5% compared with the previous week.
The refinance index decreased 5% from the previous week and was 17% higher than the same week one year ago. The seasonally adjusted purchase index decreased 3% from one week earlier, and the unadjusted purchase index decreased 5% compared with the previous week and was 3% higher than the same week one year ago.
“Last week’s CPI data showed that inflation continued to move higher, putting upward pressure on rates early in the week, but growing optimism regarding the opening of the Strait of Hormuz brought rates down again by the end of the week,” said Mike Fratantoni, MBA’s SVP and Chief Economist. “The net impact reduced mortgage application activity, with both purchase and refinance application volume down for the week by 3% and 5%, respectively. Purchase applications continue to run modestly ahead of last year, with last week’s volume up 3% on an annual basis, with stronger growth in conventional purchase volume while government purchase volume remained subdued.”
The refinance share of mortgage activity increased to 40.3% of total applications from 40.2% the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 8.5% of total applications.
The Federal Housing Administration (FHA) share of total applications increased to 17.5% from 17.4% the week prior, while the U.S. Department of Veterans Affairs (VA) share of total applications decreased to 12.9% from 13.4% the week prior. The U.S. Department of Agriculture (USDA) share of total applications remained unchanged from the week prior at 0.4%.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances remained unchanged from 6.60% and rates for jumbo loan balances decreased to 6.62% from 6.66%.
The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.25% from 6.27%, while rates for 15-year fixed-rate mortgages increased to 6.02% from 5.99%. The average contract interest rate for 5/1 ARMs decreased to 5.86% from 5.96%.
Xactus Mortgage Intent Index
Xactus‘s Mortgage Intent Index — which analyzes aggregated, anonymized credit-pull activity across the Xactus Intelligent Verification Platform — increased to a reading of 132.9, an increase from the previous week’s reading of 134.8.
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“The Xactus Mortgage Intent Index (XMII) returned to positive year-over-year growth after six consecutive weeks of annual declines, providing an encouraging signal for mortgage demand following an underwhelming spring homebuying season,” said Thomas Lloyd, Xactus’ chief strategy officer. “While mortgage rates remained relatively unchanged from the prior week, the index declined approximately 1.4% week over week, underscoring the continued sensitivity of borrower activity to the rate environment.”
Lloyd noted that the index turned positive on a month-over-month basis, ending a 12-week streak in which four-week activity levels trailed the comparable prior period.
“While still too early to indicate sustained recovery, the improvement in both year-over-year and month-over-month trends suggests that pent-up demand may be beginning to re-enter the market. Should mortgage rates ease in the coming weeks, the latest XMII reading should serve as an early indication of strengthening mortgage activity,” he said.
Stocks Rise Ahead of Fed Decision as Oil Extends Five-Day Slide
Investors headed into Wednesday focused on the Federal Reserve’s latest policy decision while oil prices continued their recent decline, extending a five-session losing streak as traders weighed growing expectations for additional global crude supplies.
Markets traded modestly higher in early action as investors awaited the central bank’s announcement later in the day. The focus remained on interest rates, inflation, and any signals policymakers might provide about the direction of monetary policy in the months ahead.
The S&P 500 edged higher, while the Dow Jones Industrial Average and Nasdaq Composite also posted gains. Market participants largely expected the Fed to leave interest rates unchanged, shifting attention toward policymakers’ economic projections and commentary regarding inflation and economic growth.
On the corporate front, earnings reports remained in focus.
Jabil reported stronger-than-expected quarterly results, benefiting from continued demand tied to artificial intelligence infrastructure and data center investments. The manufacturing services company exceeded analyst expectations on both earnings and revenue, helping lift sentiment across parts of the technology sector.
CarMax also drew attention after releasing quarterly results as investors continued to assess the outlook for consumer spending and the used-vehicle market. Analysts remain divided on the company’s turnaround prospects amid a challenging retail environment.
Technology shares were mixed following recent profit-taking across the semiconductor sector. Investors continued to evaluate whether the rapid growth driven by artificial intelligence can support current valuations after a powerful rally over the past year.
In commodities trading, oil prices remained under pressure. Brent crude extended its decline toward levels not seen in several months, while West Texas Intermediate also moved lower. Traders pointed to expectations for increased global supply, including potential additional exports from major producers and higher output from members of the OPEC+ alliance.
The decline in oil helped ease some inflation concerns that have weighed on financial markets in recent months. Lower energy prices can reduce transportation and production costs across the economy, potentially supporting consumers and businesses.
Gold prices also softened as investors reduced some safe-haven positions, while market volatility remained relatively subdued ahead of the Fed announcement.
By the afternoon, attention was expected to shift almost entirely to the central bank’s decision and accompanying comments. Investors will be looking for clues about whether policymakers believe inflation remains a significant threat or whether economic conditions may eventually justify lower interest rates.
With earnings season continuing and energy markets adjusting to changing geopolitical conditions, traders are expected to remain highly focused on incoming economic data and central bank guidance in the days ahead.
JBizNews Desk
Wall Street
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DOJ Sues New York Health Officials Over $11 Billion Medicaid Contract, Alleging Bid-Rigging and Fraud
The U.S. Department of Justice sued two top New York health officials on Tuesday, alleging they rigged the bidding for an $11 billion Medicaid home care contract and then allowed a favored company to improperly collect millions of taxpayer dollars from the program.
The civil complaint, filed by the Justice Department’s Civil Division, names New York State Health Commissioner James McDonald and State Medicaid Director Amir Bassiri as defendants. Assistant Attorney General Brett A. Shumate said the lawsuit seeks to enforce federal laws requiring integrity in government health care programs and to protect taxpayers from fraud and abuse.
At the center of the case is New York’s Consumer Directed Personal Assistance Program (CDPAP), which allows approximately 250,000 elderly and disabled residents to hire their own caregivers, including family members, rather than relying on traditional home care agencies. The state consolidated payroll and administrative functions under a single contractor in 2024, arguing the move would reduce costs and improve oversight.
That contractor was Public Partnerships LLC (PPL), a Georgia-based company. According to the federal complaint, the bidding process was not a fair competition. The lawsuit cites internal communications suggesting state officials faced pressure from the Governor’s Office while evaluating competing bids.
Federal prosecutors also allege that PPL intentionally submitted what it internally described as a “recklessly low bid” to secure the contract. According to the complaint, the company expected to recover losses later through higher reimbursement rates approved by the state.
The Justice Department further alleges that once awarded the contract, PPL inflated costs billed to Medicaid and improperly increased administrative charges in violation of contractual obligations and federal law.
The transition to the new system quickly encountered major problems. According to the complaint, PPL requested a longer transition period but was denied. Court records cited by federal attorneys indicate that one week into the January 2025 rollout, only 43 of approximately 214,000 participants had successfully transitioned to the new system. Caregivers across the state reported delayed paychecks, service disruptions, and overwhelmed customer service operations.
Gov. Kathy Hochul is not named as a defendant and is not accused of wrongdoing. However, the complaint references actions by her office during both the bidding process and the implementation of the contract. Hochul has defended the overhaul as necessary to combat waste and fraud, noting that CDPAP spending grew from $1.9 billion in 2015 to approximately $11 billion by 2025.
The lawsuit follows months of scrutiny surrounding the contract award. PPL has faced allegations of operational and financial issues in multiple other states. In New York, lawmakers from both parties have been examining the procurement process, and some have called for additional investigations into the contract award and rollout.
For the hundreds of thousands of New Yorkers who rely on CDPAP services, the federal lawsuit transforms a troubled program transition into a high-profile legal battle over the management of billions of taxpayer dollars. The defendants have not yet filed formal responses, and the allegations remain unproven.
JBizNews Desk
Albany, New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.
STAT+: FDA appears open to Moderna’s flu vaccine ahead of adcomm
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Good morning. Today, one venture capitalist weighs in on the China biotech debate. Let me know if you agree with her or not.
UniQure will submit Huntington’s therapy for approval
The FDA has reversed its opposition to a closely watched experimental treatment for Huntington’s disease, clearing a path for its maker, the biotech company UniQure, to file for U.S. approval, the company said morning.
Knesset approves MK Tally Gotliv’s immunity in Shin Bet officer identity exposure case
The Knesset plenum approved on Wednesday to grant Likud MK Tally Gotliv immunity after she was indicted for disclosing and publishing classified confidential information in violation of the Shin Bet (Israel Security Agency) law by exposing the identity of a Shin Bet officer.
In the final vote, 61 lawmakers voted in favor, and 48 voted against.
The Knesset’s House Committee on Monday approved granting Gotliv immunity with eleven lawmakers, all from the coalition, voting in favor. Three opposition lawmakers voted against, after three full days of discussions on the matter. The Knesset plenum is required to hold a vote on Gotliv’s immunity to finalize the decision.
Attorney-General Gali Baharav-Miara, who filed the indictment, had attended two of the lengthy debates last week. She had told the panel that Gotliv created a severe security risk by exposing the personal details of a Shin Bet agent during wartime.
Goltiv’s argument has centered around the claim that sharing the officer’s identity was warranted, and she has not denied doing so.
Immunity from criminal prosecution
Under the Knesset Members’ Immunity Law, Gotliv was able to request that the Knesset grant her immunity from criminal prosecution before the case proceeded to court.
Ahead of the final vote plenum vote on Wednesday, Likud MK Yuli Edelstein released a statement that he would not be voting in favor of Gotliv’s immunity. He argued that granting Gotliv immunity could set a precedent that would allow other lawmakers, including left-wing or Arab MKs, to receive immunity after violating the law as well.
“If Arab Knesset members had revealed the names of Mossad agents and Shin Bet officers, would we also stay silent? There are consequences to everything,” he said.
אם חברי הכנסת הערבים היו חושפים שמות של סוכני מוסד ואנשי שב״כ? גם אז היינו שותקים?
זאת הסיבה שאצביע היום בעד הסרת החסינות לח״כ גוטליב >> pic.twitter.com/ybZLOVNJA8
— Yuli Edelstein 🇮🇱 יולי אדלשטיין (@YuliEdelstein) June 17, 2026
No other coalition MKs have spoken out openly about voting against Gotliv’s immunity.
Coalition whip MK Ofir Katz opened the discussion, in which he expressed his support for Gotliv’s immunity and sharply criticized Baharav-Miara, arguing that she was attempting to interfere with the government’s work.
Baharav-Miara filed the indictment against Gotliv in May for publishing the identity of the partner of protest leader Shikma Bressler, who, according to the indictment, was a Shin Bet employee.
The attorney-general has argued that Gotliv’s actions do not allow her to qualify for parliamentary immunity and that she created a severe security risk through the exposure of the Shin Bet officer.
The attorney-general presented committee members last week with a top-secret document containing a professional opinion issued by the Shin Bet.
MKs who were shown the ultra-classified Shin Bet opinion said it stated that Gotliv endangered the life of an agent, as well as his children and family, according to a Channel 13 report.
Shin Bet agents’ lives at risk
The main part of the classified opinion detailed real examples of Shin Bet employees whose names were exposed, putting their lives at real and immediate risk, the report added.
Goltiv told the panel that she did the act knowingly, arguing that it was justified and that she should receive immunity as an MK. Gotliv also focused for multiple hours on renewing claims that treason had taken place during the October 7 attacks and presented various theories on the matter.
Her remarks involved a lengthy personal attack against Baharav-Miara. She also screened a video last week to the panel with clips that she presented as “evidence of betrayal” during the October 7, 2023, Hamas attacks. She made accusations of treason that she claimed took place during the attacks, presenting various theories to the panel and sparking outrage from opposition MKs.
The charge listed in the indictment against Gotliv is revealing and publishing confidential information under the Shin Bet law.
“Why are you indicting me? Because you do not know what to do with me. I acted under the authority of my immunity. I exposed [anti-judicial reform activist Shikma] Bressler’s partner,” Gotliv told last week’s panel.
Opposition coordinator Yesh Atid MK Merav Ben-Ari told the panel that “in all the hours Gotliv spoke, she did not once address the offense she is here for today.
“Not only did she take no responsibility, but she amplified the offense she committed. She provided no testimony or shred of evidence to support her claims,” Ben-Ari added.
Opposition lawmakers repeatedly spoke against committee chairperson Katz’s conduct during the debates and penned a letter to Knesset Speaker Amir Ohana (Likud) about it. They objected to the fact that he continuously kicked out MKs for interrupting Gotliv, while he allowed Gotliv to interrupt the A-G as she presented her stance to the panel.
Lawmakers were not allowed to interrupt if they did not want to be removed from the panel, and the rules stipulated that only MKs who participated in all meetings on the matter would be eligible to vote. Attendance for at least half the duration of a meeting would be considered participation. As a result, some opposition lawmakers were unable to partake in the deciding vote.
Ahead of the first Knesset debate on Monday, Baharav-Miara wrote a letter to members of the panel, requesting that Gotliv’s immunity be denied.
She explained that the indictment against Gotliv was filed on the basis of “professional, objective, and good-faith discretion,” and that none of the grounds for parliamentary immunity applied in her case.
The Movement for Quality Government warned last week against the decision to grant Gotliv immunity, stating that parliamentary immunity was not being applied properly.
The organization noted that the Knesset committee “chose to protect an elected official who is accused of a serious offense, the disclosure and publication of classified information in violation of the Shin Bet Law, a publication which, according to reports, endangered the life of a Shin Bet official and his family.”
“Parliamentary immunity is intended to protect the work of the Knesset and the freedom of action of elected officials, and not to serve as a shield against criminal proceedings,” the group added.
It further stated that the Knesset should not be “turned into a safe haven for criminals,” and called on lawmakers to reject the immunity request in the upcoming final plenum vote.
The 11 MKs in favor of Gotliv’s immunity were all from the coalition: Katz, Nissim Vaturi, Amit Halevi, Moshe Saada, Avichay Boaron, and Miki Zohar (all Likud), Simcha Rothman (Religious Zionist Party), Uriel Busso and Yosef Taieb (Shas), Yitzhak Goldknopf (UTJ), and Limor Son Har-Melech (Otzma Yehudit).
The three lawmakers who voted against were Oded Forer (Yisrael Beytenu), Naor Shiri, and Merav Ben-Ari (Yesh Atid).
The indictment against Gotliv was filed in May, based on her publishing a January 24, 2024, screenshot from the website Edna Karnaval that included the full name of Bressler’s partner and claims tying him to alleged contacts with then-Hamas leader Yahya Sinwar before the October 7 massacre.
Karnaval is described by the indictment as having a “critical and blunt” style, especially toward public officials.
The screenshot, according to the indictment, included a headline alleging that Mossad chief David Barnea had received information from the US that they had intercepted calls between Bressler’s partner and Sinwar four days before October 7.
The article further claimed that Barnea had summoned Bressler to a meeting, and that the Prime Minister’s Office had later issued a denial of Gotliv’s earlier statements.
The indictment said that the post received in excess of 400,000 views, 1,000 comments, 1,000 likes, and 500 shares. It said that Gotliv’s X/Twitter account had over 65,000 followers at the start of the relevant period, and over 90,000 by the time the indictment was filed.
Prosecutors alleged that Gotliv published the name of the Shin Bet employee knowingly
Prosecutors alleged that Gotliv revealed and published the name of the Shin Bet employee and his relationship with Bressler “knowingly, deliberately, continuously, demonstratively, and repeatedly.”
The indictment said that the post remained available online from the time of publication until the indictment was filed, and that Gotliv did not remove it from her account.
The indictment further said that Gotliv stood by the publication, repeatedly published similar statements in which she again identified Bressler’s partner as a Shin Bet employee, and publicly stated that she had no intention of removing, or apologizing for, what she had written.
The Mossad denied the claim at the time, calling it a “recycled falsehood” and saying Barnea had “never met, spoken to, or invited Shikma Bressler to a meeting.”
Earlier in May, Defense Minister Israel Katz signed a certificate of confidentiality ahead of the indictment filing, clearing a procedural obstacle that had delayed the case.
Sarah Ben-Nun contributed to this report.
IDF women’s tank unit program to start in November, Zamir announces
IDF Chief of Staff Lt.-Gen. Eyal Zamir announced on Wednesday that the pilot program to try out women serving in tank units will begin in November, despite opposition from about one-third of the hesder yeshivas that provide significant numbers of religious Zionist combat soldiers.
Zamir said that at most, the female tank pilot program will lead to a single company of tanks crewed by women, a relatively small number out of the multiple brigades of tanks, each of which is made up of multiple battalions, and each battalion made up of multiple companies.
He also warned that female tank soldiers must meet the general physical standards to serve in the unit. He added that past pilot programs in other areas had seen an unusual number of injured women during training processes, which he said should be avoided.
On June 11, 25 hesder yeshivas said they would ban their Orthodox religious Zionist male students from joining the tank corps in protest of the pilot program.
According to the IDF, the program is only a pilot, and it remains unclear whether it will lead to women serving permanently in the tank corps.
Female soldier tank program will have women-only units
Furthermore, the pilot program involves establishing women-only tank units, such that neither secular nor religious men would be serving with women within the same tank or unit, the primary concern of the religious Zionist institutions that are protesting.
From their perspective, it is a matter of modesty and could lead to problematic mingling between men and women in such a small, secluded space if men and women were to serve in the same tank or tank units.
Traditionally, religious Zionist hesder graduates serve in male-only units, and usually in units that are overwhelmingly only hesder students or at least men from Orthodox backgrounds.
The IDF appreciates the hesder program because virtually all of its students, though they serve less time than other Israeli societal sectors, serve in combat units, and many go on to become mid and high-level officers.
But the IDF was ordered by the High Court of Justice on April 13 that it was under a legal duty to implement, as far as possible, equal opportunity for women and men in access to combat roles, including beginning its long-delayed pilot integration of women into the tank corps by the November 2026 draft cycle.
IDF pushing to fill combat roles with women
Moreover, given that the government has failed to integrate haredim into the IDF both before and since October 7, 2023, and that the IDF has lost up to around 25,000 soldiers to physical or emotional harm in recent years, leaving a massive gap in human resources, the IDF has been pushing hard to fill combat roles with women.
One woman was recently accepted into the elite General Staff Reconnaissance Unit (Sayeret Matkal), and women have taken on relatively new ground-combat command roles as brigade and battalion commanders, and even as a missile boat commander.
Despite the IDF putting out a public response last week, noting the various ways it is still protecting hesder students from serving with women in tank units, the number of institutions barring their students nearly doubled on June 11 from an original 13.
That said, two-thirds of the hesder yeshivas have not yet pulled out.
Some may be waiting to see how the pilot program pans out and whether the IDF keeps its promise to maintain separate tank units for women, whereas artillery and infantry units now have mixed male and female units.
The real estate industry mistook consumer exhaustion for innovation opportunity
Every time consumers complained about real estate, the industry seemed to hear the same thing: opportunity.
Confused buyers struggling to understand the process? Build a new platform to explain it. Agents losing leads? Launch another subscription layer. Communication breaking down between parties? Add a coordination tool. Transaction stress hitting record highs? Bring in another vendor to manage it.
The pattern is consistent enough that it deserves a name. Call it the monetization reflex, the instinct to treat every friction point as a product gap rather than a structural failure. Over the past two decades, this reflex has shaped how our industry was built, and it’s a big part of why transactions feel heavier today than they did when there was a fraction of the technology.
I want to be clear about what I’m actually arguing here, because it’s easy to misread. This isn’t a complaint about software proliferation or vendor overload. Those are real problems, but they’re symptoms. The root issue is about incentive structures, specifically, who benefits when real estate transactions become more complex, and who doesn’t.
The industry monetized friction, deliberately or not
Think through how each pressure point in the transaction cycle became a business.
Lead generation fragmented into an ecosystem of competing platforms, each taking a slice. Transaction coordination became its own professional category, billed separately. Compliance requirements spawned dedicated software verticals. Showing management tools. Digital signature layers. CRM platforms that don’t talk to each other. Referral marketplaces. Title portals. Each one arrived with a legitimate pitch (efficiency, transparency, speed) and each one added a participant to a transaction that the consumer had to absorb in time, cost or cognitive load.
The thing is, none of these businesses were built to simplify the transaction. They were built around it. There’s a meaningful difference.
A system designed to simplify would reduce the number of hands a transaction passes through. What we built instead was a system where more participants meant more touchpoints, and more touchpoints meant more monetizable moments. Complexity wasn’t a bug. For a lot of business models in this industry, it was a feature.
Complexity started masquerading as professionalism
Here’s where it gets uncomfortable.
At some point, consumers began to internalize the layers as a signal of legitimacy. More steps, more specialists, more approvals, it must be serious. This is how a $500,000 transaction ends up requiring sign-offs from six different parties, each of whom the buyer or seller encounters once and never interacts with again.
I’ve sat across from clients who assumed the complexity meant they were being protected. In some cases they were. In a lot of cases, they were paying for handoffs.
That distinction matters because the industry has long used the language of professionalism, fiduciary duty, specialized expertise, compliance requirements, to justify processes that, examined closely, exist primarily because removing them would threaten someone’s business model. Not because consumers need them.
The honest version of this conversation requires acknowledging that much of what passes for industry infrastructure is really accumulated operational bloat, defended by the people it pays.
Consumers never asked to become their own transaction managers
I want to draw a line here, because this argument gets conflated with an anti-agent position and that’s not what I’m making.
Consumers still want guidance. They want someone who knows the market, who can read a negotiation, who they trust to flag the things they’d miss. That hasn’t changed. What has changed is the gap between what consumers need from experts and what they’re actually asked to absorb.
There’s a version of the transaction where expert guidance is genuinely present at the moments it matters. And then there’s what most buyers and sellers actually experience: duplicated effort across parties who don’t share information, unpredictable costs that materialize late in the process, delays created not by complexity of the deal but by the process’s own machinery and a general sense that nobody is actually responsible for the whole thing.
Consumers aren’t asking for less expertise. They’re asking for fewer handoffs. Those are very different requests, and the industry has spent years responding to the first one while ignoring the second.
The next winners will build around removal, not addition
The businesses that win the next decade of real estate will not be the ones that add the most features. They’ll be the ones that take the most away.
Specifically: fewer coordination points between parties, workflows that collapse rather than expand, cost structures that are transparent from day one rather than revealed at closing, and someone who accepts centralized responsibility for the transaction rather than distributing it across seven vendors with limited liability.
None of this is technologically complicated. Most of it has been technically possible for years. What made it commercially complicated was that simplifying the transaction meant dismantling business models built on its complexity. That’s a harder problem than building software.
The NAR settlement cracked this open. It made the structural incentives visible in a way that even non-practitioners could see. But the commission structure was always just one expression of a much broader pattern, one where the industry organized itself around friction rather than resolution.
Eventually someone was going to build the other way. The question was always whether the industry would get there first, or whether consumers would stop waiting.
Blake O’Shaughnessy is a real estate broker turned co-founder of Ownli.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.
To contact the editor responsible for this piece: tracey@hwmedia.com
US Rents Fall for 34th Straight Month as Apartment Construction Boom Gives Renters More Leverage
The typical asking rent in America slipped again last month, extending one of the longest stretches of falling rents on record, according to the Realtor.com May Rental Report released Tuesday.
The national median asking rent fell to $1,686 in May, down 1.5% from a year earlier. That marked the 34th consecutive month that rents on studio-to-two-bedroom homes came in below year-earlier levels — a streak that now stretches nearly three years and has quietly given renters their strongest negotiating position in a decade.
The reason is simple: supply and demand. A historic apartment construction boom flooded the market with new units, forcing landlords to compete harder for tenants. According to Apartment List, more than 600,000 multifamily units were delivered in 2024, the highest annual total since 1986. While construction has slowed since then, many of those buildings are still leasing up, keeping vacancies elevated and rent growth muted.
For renters who endured the sharp post-pandemic surge in housing costs, the shift has provided meaningful relief. Even so, rents remain well above pre-pandemic levels, meaning today’s renter-friendly environment is still significantly more expensive than the market of early 2020. The recent declines have softened the spike rather than erased it.
The biggest discounts remain concentrated in fast-growing Sun Belt markets that built aggressively. Austin and Phoenix continue to post some of the nation’s steepest rent declines as new supply outpaces demand. In those cities, renters often have greater success negotiating lower monthly payments, reduced fees, or move-in incentives.
The report also highlights differences beneath the national trend. Some markets are retaining existing residents while others are being shaped by migration patterns. Las Vegas, for example, has seen renters stay put as improving affordability provides value close to home.
Other markets are moving in the opposite direction. Previous Realtor.com reports identified cities including Virginia Beach, Baltimore, and Richmond as locations where vacancies are tightening and rents are beginning to climb again. In those areas, affordability pressures are returning despite the broader national decline.
Economists describe the current environment as two rental markets operating simultaneously. Jiayi Xu, an economist at Realtor.com, has noted that renters in high-construction markets are benefiting from significant relief, while tenants in supply-constrained regions are seeing costs move higher again. Chief Economist Danielle Hale has characterized the broader trend as evidence that increased housing supply is finally translating into savings for consumers.
Looking ahead, much depends on the construction pipeline. Fewer projects are breaking ground today than during the peak building surge, meaning the supply wave that has restrained rents will gradually diminish. Most housing analysts expect rents to remain relatively stable through 2026, but many caution that today’s favorable conditions may not persist indefinitely in every market.
For now, renters hold unusual leverage across much of the country. Elevated vacancies and longer leasing times are giving tenants more room to negotiate than they have enjoyed in years. In cities where rents are already rising again, however, the window for bargains may be closing faster than the national numbers suggest.
JBizNews Desk
Housing & Real Estate Desk
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STAT+: Pharmalittle: We’re reading about hackers extorting Novo, an FDA about-face, and more
Good morning, everyone, and welcome to the middle of the week. Congratulations on making it this far, and remember there are only a few more days until the weekend arrives. So keep plugging away. After all, what are the alternatives? While you ponder the possibilities, we invite you to join us for a needed cup of stimulation. Our choice today is maple bourbon. A shot of salvation, if you will. Meanwhile, here is the latest menu of tidbits to help you on your way. We hope you conquer the world and have a wonderful day. And as always, please do stay in touch. …
A cyber extortion group claimed to have stolen more than a terabyte of data from Novo Nordisk and said it is exploring selling parts of the data after unsuccessfully demanding $25 million from the company, Reuters reports. FulcrumSec, a cyber extortion group that emerged in October 2025, said in a long message posted to its website that it spent more than two months in Novo Nordisk’s networks stealing data. It said that data included company source code, proprietary information on released and unreleased drugs, trial data, employee, doctor, and patient data, information related to company processing facilities, and internal AI model information.
The U.S. Food and Drug Administration reversed its opposition to a closely watched experimental treatment for Huntington’s disease, clearing a path for UniQure to file for marketing approval, STAT writes. The decision comes after a recent meeting with FDA officials during which the agency agreed that a three-year analysis of an early-stage study that showed a benefit for patients with Huntington’s was “acceptable” to support a marketing application. These are the same data that former FDA officials, most notably Commissioner Marty Makary and Vinay Prasad, the agency’s top regulator of cell and gene therapies, previously concluded were insufficient to support a marketing application.
New-Home Construction Tumbles to Its Lowest Level Since 2020 as Builders Pull Back and Buyers Stay Sidelined by High Rates
Builders broke ground on far fewer homes in May, sending new construction to its lowest level in six years, according to a report released Tuesday by the Census Bureau and the Department of Housing and Urban Development.
Total housing starts fell 15.4% from April to a seasonally adjusted annual rate of 1.18 million units, the slowest pace since May 2020 and well below the 1.43 million that economists had expected. Starts were also 8.7% lower than a year earlier. April’s figure was revised down to 1.39 million, making the monthly drop even steeper.
The headline number hides an important split. Construction of single-family houses, the kind most American families buy, held up relatively well, slipping just 1.9% to an annual rate of 882,000.
The real collapse was in apartments. Starts of buildings with five or more units fell to 284,000, down from 529,000 in April, nearly cutting the pace of new apartment construction in half in a single month. That part of the market is famously volatile, swinging sharply from month to month, but the size of the drop still stunned forecasters.
The cause is no mystery. Mortgage rates remain high, with the average rate on a 30-year loan sitting near a one-year high, and that keeps would-be buyers on the sidelines and makes builders cautious about starting projects they may struggle to sell.
Construction costs are still elevated, partly because the war with Iran pushed up the price of materials and energy earlier this year. And builder confidence has been sliding; a closely watched measure of homebuilder sentiment fell again this month.
The slump marks a sharp reversal. As recently as March, construction was running at its fastest pace since late 2024, with starts topping 1.5 million. Then activity fell in April and dropped off a cliff in May, a sign that the brief momentum builders had built up has faded under the weight of high borrowing costs.
There is little sign of a quick rebound in the pipeline.
Building permits, which signal future construction, were essentially flat at an annual rate of 1.41 million, down slightly from April and from a year ago. When builders are not pulling permits, they are not planning to ramp up soon.
Completions also fell, dropping 8.1% from April, which means fewer finished homes are reaching the market just as buyers need them most.
Here is why this matters far beyond the construction industry.
The United States has been short of housing for years, and that shortage is the main reason home prices and rents have climbed so far out of reach for so many families.
Every month builders pull back, the gap between the number of homes the country needs and the number it has gets a little wider.
Fewer new apartments today means tighter supply and higher rents tomorrow.
Fewer new houses means continued bidding wars over the limited supply already on the market.
The pullback also ripples through the broader economy.
Homebuilding supports millions of jobs, from carpenters and electricians to the workers who make lumber, drywall and appliances. When construction slows, those jobs and the spending that comes with them slow too.
All of this lands at a delicate moment for interest rates.
The Federal Reserve is meeting this week under its new chair, Kevin Warsh, and is widely expected to hold rates steady, with some officials even leaning toward a hike to fight stubborn inflation.
For the housing market, that is not encouraging news. Mortgage rates tend to follow the Fed’s signals, and as long as borrowing stays expensive, both builders and buyers are likely to stay cautious.
For now, the May report paints a clear picture: the engine that produces the country’s homes is sputtering at exactly the time the nation can least afford it.
Whether construction picks back up depends almost entirely on what happens to mortgage rates in the months ahead, and right now, those rates are not cooperating.
Washington — JBizNews Desk
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Another lawmaker asks FTC to review agent referral tools on real estate portals
House Representative Ben Cline (R-Va)., is urging the Federal Trade Commission (FTC) to investigate whether online real estate marketplaces are using deceptive agent referral tools and mortgage steering practices that increase homebuying costs, according to a letter sent on June 12 to FTC Chair Andrew Ferguson.
In the letter obtained by HousingWire, Representative Cline commended the FTC for filing its lawsuit in September 2025 against Zillow and Redfin over an alleged illegal agreement in the multifamily rental advertising market and said similar conduct may be occurring in owner-occupied housing. He framed the issue in terms of affordability pressures facing working families.
Citing National Association of Realtors (NAR) data, Representative Cline noted that the national median home price recently hit about $429,400, the share of first-time buyers fell to a record low of 21% and the typical age of a first-time buyer climbed to 40. High rent was identified as a major obstacle to saving for a down payment.
In the letter, Representative Cline asked the FTC to examine two practices he said fall squarely under the agency’s purview:
- Misleading “contact agent” interfaces: According to the letter, some online marketplaces use contact tools that divert buyers away from “knowledgeable (and compensated) listing agents” to platform-affiliated buyer agents. Those agents have pre-agreed, without buyers’ knowledge, to share a significant portion of their incremental commission with the platform, which Representative Cline argued helps maintain “high dual commissions” and raises transaction costs.
- Mortgage steering to affiliated lenders: Representative Cline said some programs allegedly require affiliated agents to route buyers to platform-affiliated mortgage lenders, “often at higher rates and on worse terms,” again without transparent disclosure. He warned that this can leave buyers with higher-cost mortgages and “thousands of dollars in platform-related agent fees.”
Practices especially harmful to first-time buyers, says Cline
Representative Cline also warned that these practices can be especially harmful to first-time buyers, who have less equity and industry knowledge. While online platforms are often marketed as ways to avoid fees, Cline said “the opposite may all too often be the outcome.”
He asked the FTC to “examine these practices more closely” to protect consumers and “help make the dream of homeownership a reality for the next generation of Americans.”
By sending this letter, Representative Cline joins fellow Virginia-based federal lawmakers Representatives Jennifer McClellan and Donald Beyer, both Democrats, in raising concerns with the FTC regarding the referral practices of online real estate platforms.
In a letter sent to FTC Chair Ferguson in late May, the two democratic representatives claimed that “certain deceptive or insufficiently transparent internet advertising and solicitation practices may be steering consumers.”
The representatives claimed that, in some instances, these referral practices could impact a buyer’s choice of agent or lender, without any type of referral or financial relationship being disclosed to the consumers. The letter highlighted “contact agent” buttons employed by some online real estate portals that connect consumers to an agent paying the portal for leads and not the listing agent of the property the consumer is interested in.
Zillow and Redfin did not immediately return HousingWire’s request for comment.
This article was written by Brooklee Han and generated with the assistance of HousingWire Automation, then reviewed by a HousingWire editor before publication.
Bed Bath & Beyond to acquire Fathom Holdings in stock deal
Fathom Holdings Inc., a national, technology-focused real estate services platform, has signed a definitive agreement to be acquired by Bed Bath & Beyond Inc. in an all-stock transaction valuing Fathom at about $53.38 million, the companies announced on Wednesday.
The deal gives Fathom shareholders 0.2236 shares of Bed Bath & Beyond common stock for each Fathom share, subject to certain closing adjustments. The companies said the transaction is expected to close in the second half of 2026, pending regulatory approvals and a vote of Fathom shareholders.
Bed Bath & Beyond, which is positioning itself around an “Everything Home” strategy, said the acquisition will expand its Homeownership & Transactions pillar by adding Fathom’s capabilities in brokerage, mortgage, title, insurance and homeowner financial services. Fathom operates through brands including Fathom Realty, Encompass Lending, intelliAgent, Real Results and Verus Title.
Fathom’s cloud-based intelliAgent platform and bundled services are expected to be combined with Bed Bath & Beyond’s omnichannel retail business and a growing home services line to build what the companies describe as an end-to-end homeownership platform, spanning home search, financing, closing and furnishing.
For real estate and mortgage professionals, the deal underscores how nontraditional players are pushing deeper into the transaction stack, seeking to own the customer relationship from first search to move-in and beyond. If completed, the combination would give Fathom agents and loan officers access to Bed Bath & Beyond’s large customer base and marketing reach, while potentially introducing new referral, cross-sell and lead-generation channels tied to household purchases and services.
Fathom said the merger is expected to deliver enhanced scale, greater capital resources for its technology and agent network and “significant cross-selling synergies” across home products and services. The companies also pointed to potential operational efficiencies from shared infrastructure and increased adoption of intelliAgent.
As part of the announcement, Fathom said board member Adam Rothstein has been appointed interim CEO and Daniel Weinmann, previously vice president of finance, has been named chief financial officer, both effective immediately. Leadership stability and agent retention will be key execution risks as the company navigates integration planning and regulatory review.
Can SpaceX Save Solana? Tokenized SPCX Stocks Rack Up $100 Million In Trading Volume
Solana (CRYPTO: SOL) has clocked $100 million in SpaceX (NASDAQ:SPCX) tokenized stock volume in 24 hours, more than all tokenized equities traded across August and September last year combined.
SpaceX Tokenized Trading Is Turning Solana Into A Derivatives Powerhouse
The SPCX trading explosion on Solana spans multiple products. Jupiter launched a SpaceX rewards campaign with gamified card packs and leaderboard competitions, with top 100 traders earning cash rewards on positions as small as $55,000.
Frontier Traders added its own SPCX leaderboard on Solana rails. Sunrise DeFi now lets traders borrow against SpaceX positions on its order book, a product unavailable anywhere in traditional finance.
With Anthropic, OpenAI, ByteDance, Stripe, and Revolut IPOs all expected this year, analyst Paul Barron argued Tuesday that Solana is positioned to capture …
Byte Federal Announces Successful Launch of Custom-Built Integration Supporting BurraPay’s Historic Entry into America’s Regulated Gaming Market
VENICE, Fla., June 17, 2026 /PRNewswire/ — Byte Federal, Inc. is excited to announce the integration of our payment and exchange services with BurraPay, the first cryptocurrency payments processor to operate inside Nevada’s regulated gaming market. Byte Federal is enabling BurraPay’s secure, compliant cryptocurrency transactions within licensed casino and sportsbook environments – a barrier that, until now, has kept digital assets entirely out of the regulated U.S. gaming ecosystem.
BurraPay announced its U.S. debut last week with its first client, Circa Resort & Casino in downtown Las Vegas, home of The World’s Largest Sportsbook. On June 4th, the platform processed the first legal cryptocurrency-funded sports wager in Nevada history.
“The Nevada Gaming Control Board’s willingness to engage with compliant crypto infrastructure reflects the forward-thinking regulatory leadership that has kept Nevada at the forefront of the global gaming industry for decades,” said Luke Millanta, CTO and Co-Founder of BurraPay. “Nevada has set a blueprint. Our focus now is to continue working directly with regulators in other jurisdictions to replicate that – giving them full visibility into our compliance framework and the proven infrastructure we’ve deployed with Byte Federal, so they can move forward with confidence.” Players wishing to fund their wagering activity using cryptocurrency, including Bitcoin, Ethereum and Litecoin, can now do so by visiting the sportsbook …
The Supreme Court Leaves Trump’s First-Term China Tariffs in Place, Turning Away a Challenge From Importers Seeking Refunds
The Supreme Court on Monday declined to hear a challenge to the tariffs President Donald Trump placed on Chinese goods during his first term, leaving the import taxes in place and ending a years-long fight by businesses that had hoped to overturn them and recover what they paid.
The justices denied review, without comment, in a case known as HMTX Industries LLC v. United States, the test case in a long-running effort to undo the duties. The decision closes the door on the lawsuit and on the refunds that importers across the country were seeking.
The tariffs at issue were imposed in 2018 under Section 301 of the Trade Act of 1974, after the U.S. Trade Representative investigated and concluded that China was engaging in unfair trade practices, including the theft of American intellectual property and the forced transfer of technology from U.S. companies.
The original duties covered about $50 billion worth of Chinese goods. The administration later expanded them sharply, to roughly $370 billion in products, a move the plaintiffs argued went beyond what the law allowed.
Lower courts, including the U.S. Court of Appeals for the Federal Circuit, had already sided with the government, and the Supreme Court’s refusal to step in lets those rulings stand.
The timing is what makes this significant.
Just four months ago, in February, the same Supreme Court struck down a far broader set of tariffs Trump imposed in his second term, ruling 6-3 that he had overstepped his authority by using a national-emergency law to tax imports from nearly every country.
That decision wiped out the sweeping “reciprocal” tariffs.
But it left the older Section 301 tariffs on China untouched because those rest on a different and firmer legal foundation.
Monday’s action confirms that distinction: the emergency-powers tariffs fell, while the China tariffs survive.
For the administration, that is a meaningful win.
With the emergency-powers route blocked, Section 301 has become one of the most reliable tools left for taxing imports, and the court has now signaled it will not interfere with how that tool has been used.
The administration has already begun leaning on it, recently opening new Section 301 actions against several seafood-trading partners over forced-labor concerns.
Here is why it matters beyond the courtroom.
The tariffs cover an enormous share of what the United States buys from China, from electronics and machinery to furniture and auto parts.
Those taxes are paid in the first place by American companies that import the goods, and a portion of the cost typically reaches consumers through higher prices.
They have been part of the economic landscape for years, and Monday’s decision means they are not going anywhere.
The businesses that paid them and hoped for relief, or for money back, will get neither.
It also leaves the broader trade picture firmly in place.
Even after the bigger tariffs were struck down in February, Chinese goods remained among the most heavily taxed imports in the country because of these Section 301 duties stacked alongside other measures.
With the legal challenge now exhausted, that structure is locked in for the foreseeable future.
The ruling lands as the United States and China continue a delicate economic relationship, one that has swung between confrontation and negotiation.
For companies that spent years building supply chains around Chinese factories and betting the courts might eventually grant them relief, the message from Washington is now unambiguous:
Plan around the tariffs, because they are here to stay.
Washington — JBizNews Desk
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US-Iran deal sparks fierce political warfare in Israel over Lebanon freedom of action – analysis
A memorandum of understanding between the United States and Iran has opened a new political fight before the public has seen the full text of the agreement.
Washington and Tehran are presenting the framework as a step toward ending the latest phase of the war, reopening the Strait of Hormuz, and creating room for further nuclear negotiations. But in Israel, the deal is being judged by a more urgent test: whether it could restrict Israel’s freedom to act against Hezbollah in Lebanon.
The known contours of the agreement remain incomplete.
US President Donald Trump has said the agreement is signed, while a formal ceremony is expected in Geneva. Reports so far indicate that the memorandum of understanding (MoU) would create a 60-day ceasefire window, reopen the Strait of Hormuz, start technical talks on Iran’s nuclear program, and open the door to some form of sanctions relief, oil waivers, or access to frozen Iranian assets.
But the official text has not been released, and descriptions from US, Iranian, and media sources differ on key details.
Reported framework does not settle Iranian nuclear question
That uncertainty is central to the debate. The reported framework does not yet clearly settle what restrictions Iran would accept on uranium enrichment, what happens to its existing enriched uranium stockpile, how sanctions relief would be sequenced, what enforcement mechanisms would apply, or whether Lebanon and Hezbollah are formally covered.
Iran has pushed for a cessation of hostilities across all fronts, including Lebanon, while Israel has made clear that it does not consider itself bound by a US-Iran arrangement that could limit its operations against Hezbollah.
Joe Truzman, a US-based independent Middle East analyst, said any assessment remains tentative until the document itself is made public.
“An official version of the MoU has not been released; thus, most of my answers are based on what has been reported in the media about the deal,” he told The Media Line. “There are still questions about subjects like the opening of the Strait of Hormuz and other key issues because an official copy of the MoU has not been released.”
The deal is already producing political divisions in several arenas at once. In the United States, supporters can argue that President Trump is moving toward ending a costly war, easing pressure on energy markets, and forcing Iran into a negotiating framework.
Critics, including some Iran hawks, argue that the agreement may stop short of dismantling Iran’s nuclear and missile capabilities while giving Tehran economic relief. In Iran, hard-liners have also voiced objections, fearing that the agreement may require concessions on the nuclear issue.
In Israel, opposition to the emerging framework is not uniform in its reasoning, but much of the Jewish-Zionist political spectrum is converging around one demand: No US-Iran deal should restrict Israel’s freedom of action in Lebanon.
Truzman said the politics are difficult for both governments. “Both the United States and Iran are attempting to sell the deal domestically,” he said. “Interestingly, both countries are receiving negative responses from their bases. Hardliners in Iran believe that the deal will result in significant nuclear concessions, while critics in the United States view the agreement as giving the regime a lifeline.”
He added, “Giving money to a regime that the United States has spent years trying to undermine does not look like victory.”
Still, Truzman cautioned that US criticism of the deal should account for the damage Iran has already absorbed. “Though I believe that critics of the deal in the United States are not fully taking into account the overall picture,” he said.
“Iran has gone through years of sanctions, which have decimated its economy. The Rial is nearly worthless. Iran’s proxies have been decimated but are slowly recovering. Due to American and Israeli action, key figures in the Iranian-led Axis of Resistance are now a memory. The region, at this moment, is safer, but that won’t last forever.”
That divide frames the broader argument over the agreement. One view sees it as a concessionary framework that may give Tehran economic oxygen without resolving the nuclear, missile, or proxy issues.
Another sees it as a pragmatic pause after Iran suffered severe military, economic, and political losses. Under that reading, the deal may not represent a clean victory for any side but a temporary arrangement after a conflict in which each actor paid a price, and none achieved all of its stated goals.
Irina Tsukerman, president of Scarab Rising and a political analyst, offered a more skeptical reading of the deal’s political logic. She told The Media Line the agreement should be understood less as a historic diplomatic achievement and more as an effort by President Trump to reframe an inconclusive outcome.
“No one should be surprised,” Tsukerman said. “Anyone who watched Trump’s handling of Ukraine and still believed Israel would ultimately be treated differently was paying attention to campaign rhetoric rather than the record of his actions.”
Tsukerman placed the Iran file within what she described as a broader pattern in President Trump’s foreign policy.
“Trump’s political identity has long revolved around transactionalism, personal survival, reputation management, and the pursuit of outcomes that can be marketed as victories regardless of their strategic consequences,” she said. “The developing Iran agreement fits squarely within that pattern.”
Her argument is not that the deal lacks political usefulness. Rather, she sees it as a way to manage the political aftermath of a confrontation that has not produced a decisive strategic shift.
“Iran survived. The regime survived. Its proxy network survived. Its ability to influence regional events survived. The nuclear question remains unresolved. The transformative outcome that many supporters anticipated never materialized,” Tsukerman said.
Under that reading, the agreement helps recast an unfinished confrontation as a political success. “The agreement becomes a mechanism for redefining success,” she said.
“The objective becomes narrative management rather than strategic transformation. The purpose is not defeating Iran’s regional project. The purpose is creating a political exit that allows Trump to declare victory and move on.”
The deal could still have practical effects. A reopening of the Strait of Hormuz would matter for global energy markets and for countries whose economies depend on Gulf shipping.
The conflict severely disrupted maritime traffic, and even a partial restoration of movement would reduce pressure on oil prices, insurers, shipping companies, and Gulf economies. European leaders have welcomed the prospect of reopening the strait, while France and Britain have discussed a possible European or multinational maritime mission to help secure navigation if the ceasefire holds.
Yet the Hormuz issue also shows the limits of the arrangement. Reopening the strait would ease the immediate crisis, but it would not erase the fact that Iran demonstrated its capacity to use the waterway as leverage. Shipping companies may remain cautious until they receive practical assurances on demining, security guarantees, and the durability of the agreement.
A European mission could help stabilize traffic, but Iran’s position on foreign military activity in the waterway could make such an initiative diplomatically sensitive.
The nuclear file remains just as unsettled. Reports suggest the MoU would open a 60-day period for technical negotiations, but the precise obligations remain contested.
US officials have described a framework that would eventually prevent Iran from developing or acquiring nuclear weapons and require steps on enriched uranium. Iranian descriptions have emphasized different sequencing, including sanctions relief, oil waivers, and access to frozen funds.
Until the official text is released, it remains unclear whether the agreement freezes the issue, advances toward a durable settlement, or simply postpones the hardest decisions.
Billions of dollars may be released to Iran
The frozen-assets issue is likely to remain one of the most politically charged elements.
Reports have referred to the possible release of billions of dollars in Iranian assets, though accounts differ on the amount and the conditions. For opponents of the deal, this raises the concern that economic relief could strengthen a regime still accused by its adversaries of supporting armed groups across the region.
For supporters or more pragmatic observers, conditional access to funds may be part of the cost of securing de-escalation, reopening Hormuz, and keeping Iran at the table.
Truzman said Tehran emerged from the conflict damaged, even if the regime endured. “Lastly, what Tehran ‘gained’ from this conflict was survival and an opportunity to recover,” he said.
“Yet that outcome should not obscure the scale of its losses. Supreme Leader Khamenei is dead, scores of senior military and political figures have been killed, and Iran’s armed forces have suffered significant damage.”
“The regime now faces a long and difficult path to rebuilding its military capabilities and restoring its regional influence,” Truzman said.
“For the moment, the Middle East is safer from the threat of Iranian hegemony. However, that window may be temporary. The regime’s hardliners have shown little interest in moderation and every intention of restoring the status quo that existed before the war.”
For Israel, Lebanon is becoming the most immediate test of the agreement’s regional meaning. The question is less whether Iran has been weakened than whether Iran and Hezbollah can recover under diplomatic cover.
Israeli politicians across ideological lines have reacted with concern to any arrangement that would connect the Iranian and Lebanese arenas. Israeli lawmaker Ohad Tal, of the Religious Zionism party, rejected the emerging framework outright.
“The agreement with the Iranians is a bad deal. Period,” Tal told The Media Line. “It leaves them with their uranium, their missile program, and their ability to spread terrorism around the world, while funneling money to the regime that will only strengthen it and advance its extremist ambitions.”
Tal said that, according to reports, the agreement is temporary and would not prevent renewed conflict but “only postpone the return to fighting.” He said Lebanon must remain outside the US-Iran framework. “What happens in Iran is President Trump’s issue, but what happens in Lebanon is Israel’s concern alone,” Tal said.
“The United States and Iran are not parties to what takes place in Lebanon.”
A similar concern came from Yisrael Beitenu lawmaker Yevgeny Sova, though he framed it as a strategic and diplomatic failure rather than only an ideological objection. Sova told The Media Line his party views the emerging agreement “not only as a strategic failure of the government, but also as a real danger to the future of the state.”
Sova said Israel must keep the Iranian and Lebanese questions separate. “It was a strategic mistake to connect the two arenas,” Sova said. “The Lebanese arena and the Iranian arena must not be connected.”
He also said Israeli leaders must manage disagreement with Washington without turning it into a public rupture. “You need to know how to say no to an American president,” he said. “Not to fight with him, not to smear him, certainly not to use the relationship with the Americans for political needs, but there is no doubt that you have to know how to say no.”
His warning over frozen assets was direct. As long as Iran’s ayatollah regime remains in power and receives money that had been frozen, Sova said, Israel should assume the funds will be used for terrorism. “Israel must change its approach,” he said, warning that acting as it did before October 7 would be “very dangerous” in the period ahead.
Opposition Leader Yair Lapid put the responsibility on Prime Minister Benjamin Netanyahu rather than on the military or Israeli society. Lapid said Israeli citizens stood firm during the campaign, but that Netanyahu “collapsed at the moment of truth.”
He argued that Israel had been left with an impossible choice: either a direct confrontation with its most important ally or a waiver of Israeli interests and the right to self-defense. “Israeli citizens behaved amazingly,” Lapid said. “This is Netanyahu’s failure.”
Other Israeli lawmakers reached different conclusions from different ideological starting points.
Yair Golan, chairman of The Democrats, said the agreement “binds the IDF’s hands in Lebanon” and strips Israel of its freedom of security action.
National Security Minister Itamar Ben-Gvir said Israel is “not a contractor for any superpower” and is not bound by agreements that close off its ability to defend its citizens.
Avigdor Liberman, chairman of Yisrael Beitenu, called the agreement a “terrible diplomatic disaster” and said Israel should urgently tell the United States that it rejects any linkage between the Iranian and Lebanese arenas.
Arab members of the Knesset, Israel’s parliament, drew a different conclusion.
Member of Knesset Aida Touma-Suleiman, from the Hadash party, cautiously welcomed the possibility of a US-Iran agreement, saying she hoped it would produce a real ceasefire across all fronts and end civilian suffering. She accused the Israeli government of repeatedly trying to sabotage diplomatic progress and argued that a policy of “more force and more force” would not lead anywhere good.
Ta’al lawmaker Ahmad Tibi said his faction had opposed the war from the beginning and mocked the presentation of the reopening of the Strait of Hormuz as a historic achievement, saying the strait had been open before the war.
Taken together, the Israeli reaction is not a single political response.
Coalition hard-liners reject any arrangement that limits Israeli military action. Opposition figures across the Zionist left, center, and right accuse Netanyahu of mishandling the relationship with Washington and allowing Lebanon to be folded into the Iran file.
Arab lawmakers see the possible agreement as an opportunity to stop the fighting and reduce civilian suffering. But across much of the Jewish-Zionist political spectrum, the central demand is the same: No agreement with Iran should restrict Israel’s ability to act against Hezbollah in Lebanon.
Tsukerman said Israeli operations could face new diplomatic pressure if Washington makes preservation of the agreement its priority. “This helps explain why Israel’s interests increasingly appear subordinate to the preservation of negotiations,” Tsukerman said.
“Once securing an agreement becomes the overriding objective, every action capable of disrupting that objective becomes a problem.”
She added, “Israeli military operations against Hezbollah, Iranian assets, or affiliated networks cease being viewed primarily through the lens of security and begin being viewed through the lens of political inconvenience.”
In that context, she said, the Lebanese front cannot be treated as separate from Iran’s regional power. “The Lebanon component is especially revealing,” Tsukerman said. “Hezbollah remains one of Iran’s most valuable strategic assets. Any serious effort to diminish Iranian regional influence necessarily involves confronting Hezbollah’s military capabilities.”
“Yet once negotiations become paramount, Hezbollah transforms into a variable that threatens the desired political outcome,” she said. “Israel is expected to absorb risks, postpone objectives, and tolerate threats in order to preserve diplomatic momentum.”
Truzman also said Israel is unlikely to stop acting against Hezbollah, even if a US-Iran agreement holds. “Despite the close relationship between Israel and the United States, it is highly unlikely that Israel will completely stop its attacks on Hezbollah,” he said.
“Israel discovered on October 7, 2023, that it cannot risk allowing an enemy to build up forces on its borders. While the relationship with the United States is important to Israel, Jerusalem is the ultimate decision-maker on how it will proceed with Hezbollah.”
He said direct attacks on Iran and continued action in Lebanon would be viewed differently in the context of the agreement. “The only way Israel could play spoiler in a deal between the U.S. and Iran is if Jerusalem directly attacked Iran,” Truzman said.
“Separately, Israel cannot afford to allow Beirut to become a strike-free zone where Hezbollah can rebuild its forces. Thus, it is likely that we will see additional Israeli strikes in Beirut in the future if they are required, but I think Jerusalem will be very cautious when carrying it out.”
That distinction may become crucial. Israel may seek to avoid openly derailing a US-Iran agreement, but it is unlikely to accept a situation in which Hezbollah can rebuild freely in Lebanon.
Washington may try to limit escalation; Israel may try to preserve operational freedom; Iran may try to include Lebanon in the ceasefire; Hezbollah may test the boundaries. The deal’s durability may depend not only on Washington and Tehran but also on whether these secondary fronts can be contained.
The role of mediators and external actors adds another layer. Qatar and Pakistan have played roles in moving the talks forward, while Europe is now discussing how to support the reopening of Hormuz.
For some observers, mediation is necessary because neither Washington nor Tehran can easily negotiate directly after months of war. For others, the growing influence of regional intermediaries raises concerns that the final arrangement may reflect the interests of actors whose priorities do not fully align with Israel’s.
Tsukerman pointed to Qatar as one example. “The role of Qatar deserves particularly close scrutiny,” she said. “Doha has spent years positioning itself as an indispensable intermediary in regional affairs.”
She made a similar argument about Turkey. “Under Erdoğan, Ankara has increasingly defined itself through opposition to Israeli policies and ambitions,” Tsukerman said. “Anti-Israel rhetoric has become a regular feature of Turkish political discourse. Turkish regional objectives frequently place Ankara at odds with Jerusalem across multiple theaters.
A diplomatic environment shaped by Turkish influence is unlikely to prioritize Israel’s security concerns in the same manner that Israel itself would.”
Russia is another actor watching the outcome closely, given its interest in preserving Iran’s regional position. Tsukerman said, “The Putin factor deserves equal attention. No major power benefits more from Iran’s survival than Russia.”
Still, the agreement cannot be reduced to a single actor’s agenda. For Washington, it may be an attempt to stop a costly war and prevent further disruption to global energy markets.
For Tehran, it may be a way to secure regime survival, economic relief, and time to rebuild. For Israel, it may be a diplomatic framework that risks constraining freedom of action in Lebanon.
For Gulf states, it may bring relief from the immediate danger of escalation while confirming that Iran remains a durable regional force. For Europe, the priority is freedom of navigation and avoiding another energy crisis.
The official text of the MoU will determine how much of the current debate is based on real obligations and how much is based on competing political messaging.
The questions to watch are whether Iran’s nuclear activities are frozen, rolled back, or merely deferred; whether sanctions relief is conditional or front-loaded; whether frozen assets are released and under what restrictions; whether Hormuz reopens safely and permanently; whether a European maritime mission is accepted or challenged; and whether Lebanon is formally included in the arrangement or only politically linked to it.
For now, the agreement appears to offer enough ambiguity for several sides to claim victory. President Trump can argue that he stopped the war and reopened Hormuz.
Iran can argue that it survived and secured a path toward economic relief. Gulf states can welcome de-escalation while reassessing their security assumptions. Israel can insist that it is not bound by any arrangement that limits its ability to act against Hezbollah.
That same ambiguity may become the agreement’s weakness. If the MoU does not resolve Iran’s nuclear future, define the terms of sanctions relief, clarify the release of frozen assets, and settle whether Lebanon is part of the deal, it may not end the conflict. It may only move it into a different phase.
The central question is not whether Washington and Tehran can announce an agreement. They already have. The question is whether the agreement changes the strategic reality, or simply pauses the confrontation long enough for each side to describe survival, restraint, or de-escalation as victory.
B’nai Brith Canada demands delay of upcoming Nakba exhibit amid foreign interference fears
B’nai Brith Canada has expressed concern about the Canadian Museum for Human Rights’ (CMHR) upcoming Nakba Exhibit amid reports of foreign interference.
‘Palestine Uprooted: Nakba Past and Present’ is set to open June 27, 2026. It is advertised as an exploration of human rights violations related to the “ongoing forced displacement and dispossession of Palestinians,” featuring personal stories told through objects and video testimonies, art, photos, and text.
While CMHR said the exhibition is being developed in collaboration with an advisory network of scholars,
B’nai Brith said it remains unclear if museum officials held discussions with “credible historians” or received “appropriate, informed perspectives from Jewish and Israeli Canadians.”
“Our concerns surround the proposed contents of this exhibit, as well as the Museum’s failure to engage in a proper, meaningful, and transparent consultation process with appropriate stakeholders,” the advocacy organization said in a statement on Tuesday.
Concerns CMHR’s exhibit will fuel hatred, promote revisionism
“At a time when Canada is experiencing a national crisis of antisemitism, including as a result of distortions of Zionism and Israeli history, we are concerned that CMHR’s exhibit will fuel hatred and promote revisionist narratives.”
B’nai Brith’s concerns about CMHR’s lack of transparency come amid the recent revelation that foreign actors may have been involved in the consultation or development of the exhibition.
Internal emails obtained by the National Post indicated that senior officials at CMHR had a discussion with the Palestinian representative to Canada, in which she attempted to get involved in the exhibition.
According to the email dated December 4, 2024, Ramsey Zeid (president of the Canadian Palestinian Association of Manitoba) asked Matthew Cutler, CMHR’s vice-president of exhibitions, and Isha Khan, the museum’s CEO on December 4, 2024, if the ambassador of Palestine to Canada could meet with CMHR staff about the Nakba Exhibit to “receive an update on the progress of the project, understand where we currently stand, and explore how she might be able to assist.”
On December 6, Cutler responded to Zeid, agreeing to the meeting.
The Palestinian General Delegation confirmed to the National Post that the meeting took place, but would not disclose what was discussed.
Neil Oberman, a Montreal lawyer, told the National Post that there is a serious question as to whether the CMHR has violated its own mandate under the Museums Act, which explicitly states that its purpose is to “explore the subject of human rights, with special but not exclusive reference to Canada, in order to enhance the public’s understanding of human rights, to promote respect for others and to encourage reflection and dialogue.”
B’nai Brith then weighed in with its Tuesday statement, saying that it is “unacceptable that a member of a foreign official delegation to Canada may have influenced, or been positioned to influence, a Crown corporation’s decision-making.”
B’nai Brith called for a full and transparent investigation into the matter, and asked that the CMHR delay the exhibit’s opening in the meantime until the allegations of foreign interference have been fully investigated.
“Anything less would further undermine its credibility and accentuate the potential harm caused to the Jewish community, and all Canadians.”
Iran keeps striking ships in Strait of Hormuz as deal signing looms
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Baby puree scare: Police examine possible terror angle after sedatives hospitalize four infants
The Shin Bet, Israel’s domestic security agency, has joined the investigation into sedative drugs found in baby fruit puree jars consumed by several toddlers in Jerusalem, as police examine whether the substances were inserted into the products deliberately.
The Health Ministry confirmed Wednesday that laboratory tests found clonazepam and lorazepam in jars of Prinok baby fruit puree sold at two branches of Zol Begadol, a discount supermarket chain in Jerusalem.
The products were purchased at the chain’s Mahane branch at 113 Jaffa Street and at another branch at 214 Jaffa Street, both in the center of the capital.
Clonazepam and lorazepam belong to the benzodiazepine family, a class of prescription drugs used as sedatives, anti-anxiety medications, and other treatments.
The Health Ministry issued immediate closure orders for both Zol Begadol branches where the jars were purchased and involved additional enforcement authorities, including Israel Police.
At least four toddlers were hospitalized at Hadassah-University Medical Center in Ein Kerem, a major Jerusalem hospital, after consuming fruit puree and showing symptoms that included weakness, apathy, and confusion. Blood tests later found traces of sedative substances. The children have since been released from the hospital.
On Tuesday, the Health Ministry instructed hospitals in the Jerusalem area to increase their attention to cases involving infants and young children arriving with symptoms that could match exposure to benzodiazepines. Hospitals were also asked to report any similar cases that may have occurred in recent weeks.
Police examine criminal and nationalist motives
Jerusalem Police opened an investigation immediately after the children were hospitalized and sedatives were found in their blood, police said.
Investigators are carrying out a range of investigative actions, and all directions are being examined, including the possibility that the incident was nationalistically motivated.
Police stressed that no suspects have been arrested or questioned in connection with the suspected insertion of substances into the products. They said it was too early to determine whether the motive was criminal or nationalist.
Investigators are awaiting further Health Ministry findings on where and when the substances entered the products, including whether this occurred at the factory, during transportation, or after the jars arrived at the Jerusalem stores.
No general Prinok recall
The Health Ministry said that, at this stage, it has not ordered a sweeping recall of all Prinok products.
The ministry said there was currently no indication of a defect or malfunction during production and no evidence of contamination at the manufacturing plant. Tests conducted on products from importers were found to be normal, according to the ministry.
The ministry called on parents whose children consumed the product to monitor for behavioral changes, including unusual sleepiness, exhaustion, or confused speech. Parents were told to contact their pediatrician and the Health Ministry hotline at *5400 while noting the possible connection to the product.
The ministry also reminded the public to make sure food products are sealed, intact, properly labeled, and sold in their original packaging.
It advised consumers not to eat products purchased from the two Jerusalem branches, products sold outside their original packaging, products with unusual color, appearance, or smell, or jars whose vacuum mechanism does not work properly when opened.
Company says facts point to malicious external interference
Randi, the company that markets Prinok in Israel, said that the Health Ministry had found no indication of a defect or malfunction during production and no indication of contamination at the plant itself.
“All tests conducted on products from the importer were found to be normal,” the company said.
Randi said the Health Ministry had clarified that the products were safe for consumers and that there was no obstacle to continuing their sale.
“The facts indicate that an external party maliciously inserted foreign substances into the product,” the company said.
The company said it acted transparently with the public and in close coordination with the Health Ministry and all relevant professional authorities once it became aware of the case.
Prinok products have been sold for more than 20 years in supermarket chains across Israel, Randi said.
“We again emphasize that before each use, consumers must make sure that the product is closed, intact, and does not show signs of damage or opening, in accordance with the safety instructions printed on the packaging,” the company said.
One father of children who were taken to the hospital told N12 that his family had initially been questioned by police after the sedatives were found in the children’s blood.
“We were in an investigation for two hours over abuse of helpless minors,” he said. “I have two healthy and well-cared-for children. I was the one who gave them the puree.”
The Health Ministry said it was continuing to examine the case and would update the public as needed.
European Parliament Ratifies U.S. Trade Deal, Avoiding Trump’s Threatened 25% Auto Tariffs
The European Parliament gave its final approval Tuesday to a long-delayed trade agreement with the United States, voting 440 to 151 with 50 abstentions and clearing the last major hurdle just weeks before a deadline set by President Donald Trump that would have sharply raised tariffs on European cars.
The vote locks in the framework that Trump and European Commission President Ursula von der Leyen struck nearly a year ago in Turnberry, Scotland. Under the deal, the United States applies a tariff of up to 15% on most goods coming from Europe, while the European Union removes many of the duties it charges on American industrial products. It is meant to settle a dispute that had been hanging over the world’s largest trading relationship.
What pushed lawmakers to act now was the calendar. Trump had given the bloc until July 4 to ratify the agreement, warning that he would otherwise raise tariffs to much higher levels. He had specifically threatened to lift duties on cars and trucks built in Europe to 25%, a move that would have hit the continent’s automakers hard and raised prices for American shoppers who buy their vehicles. Tuesday’s vote takes that threat off the table, at least for now.
Getting here was not smooth. EU lawmakers had twice frozen the deal over the past several months. They paused it in January after Trump floated the idea of taking control of Greenland, a Danish territory, and again in February after a U.S. court struck down a large part of his tariff program, leaving Europe unsure what it was even agreeing to. Many members of parliament have called the agreement lopsided, arguing it gives Washington more than it gives Brussels, and they attached safeguards that would let the EU suspend the tariff cuts if the United States does not hold up its end.
The tension has not gone away. Tuesday’s approval came just days after Trump issued yet another tariff threat, this time aimed at France over its rules governing digital companies. That timing was a reminder that even a ratified deal remains fragile as long as tariffs are being used as a tool of pressure.
Why does an agreement negotiated in Brussels matter to people in the United States? Because the amounts involved are enormous. Roughly $1.8 trillion in goods and services move across the Atlantic in both directions every year, touching everything from German sedans and French wine to American machinery, software and farm products. When tariffs rise, those costs tend to land on businesses and, eventually, on the prices consumers pay. A 25% tax on imported European cars would have rippled through dealerships, repair shops and the broader auto market on both sides of the ocean.
For carmakers, the vote is a clear relief. European manufacturers such as BMW, Mercedes-Benz and Volkswagen sell large numbers of vehicles in the United States and build many of them at American plants as well. A jump to 25% would have scrambled their pricing and factory plans. The 15% rate is still well above the roughly 2.5% they paid before the dispute began, but it gives them something businesses value above almost everything else: a number they can count on.
Not everything is settled. The safeguards the parliament attached still need sign-off from the EU’s member states before the tariff reductions on American goods fully take effect. Steel and aluminum remain subject to a separate 50% tariff that the two sides have yet to resolve. And the broader relationship will stay on edge as long as new threats keep surfacing.
Still, Tuesday marked a genuine turning point. After a year of brinkmanship, missed deadlines and frozen votes, the deal that has loomed over transatlantic trade finally has the approval it needed to move forward. For companies that have spent months unable to plan, that certainty may matter as much as the tariff rate itself.
The focus now shifts to whether Washington keeps the peace or reaches for the next threat.
Brussels — JBizNews Desk
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New IEA Report Released Today Signals Oil Prices Could Face Pressure as Supply Floods the Market by 2027
The world could go from scrambling for every barrel to drowning in crude within about a year and a half, the International Energy Agency said Wednesday in its monthly Oil Market Report, the first edition to carry a full-year forecast for 2027.
The Paris-based agency, which advises 32 member countries on energy policy, laid out a sharp reversal. After a brutal stretch in which the U.S.-Iran war knocked millions of barrels a day offline and pushed fuel prices to painful highs, the report said a steady rebound in production — provided the interim peace deal between Washington and Tehran actually holds — would lift global supply far beyond what the world is on track to burn.
The numbers tell the story. The agency expects oil supply to climb by roughly 8 million barrels a day next year, reaching about 110.3 million barrels a day, as Persian Gulf production comes back online and OPEC+ raises its output targets. Demand, by contrast, is seen rising a far more modest 2 million barrels a day, to 105.3 million. That gap points to an enormous glut in 2027 — what the agency called a significant overhang building across the market.
That would be a stunning flip from the shortage gripping the market right now. The IEA again cut its demand outlook for this year, saying the pain from high prices has spread well beyond the regions and industries hit first. It now sees 2026 demand at 103.3 million barrels a day, down from 104 million in its May report and a 3.9 million-barrel drop from 2025 levels.
Second-quarter deliveries were especially weak. Early data showed consumption running 5 million barrels a day below a year earlier — the first global quarterly demand drop since the pandemic year of 2020. The agency said the weakness is carrying into the summer, with shipments of major fuels, gasoil in particular, straining across nearly every region as steep prices and a tougher economy push every product category into decline.
Prices have already started to ease as a result. North Sea Dated crude, a global benchmark, tumbled more than $40 a barrel to around $82 between early May and mid-June as buyers pulled back. That is a long way down from the swings earlier in the war, when the benchmark spiked toward $144 a barrel before sliding below $100 on conflicting signals about whether a deal would get done.
Supply this year is still badly depressed. The agency pegged 2026 output at 102.4 million barrels a day, a small upgrade from its last report but a 3.9 million-barrel fall from 2025. May production came in at 94.5 million barrels a day — down 600,000 from April and a striking 13.6 million below where the world was producing before the conflict began.
The strain shows up clearly in storage. Global oil inventories have been drained by an average of 3.8 million barrels a day since the U.S.-Iran war started, with May alone seeing a 4.6 million-barrel-a-day draw. Government emergency stocks held by IEA member countries fell to their lowest level since December 1990, as nations kept releasing reserves to plug the gap.
For all the optimism about 2027, the agency was careful to flag how fragile the peace is. While the interim agreement clears a path for Middle East exports to recover, it warned that practical and political hurdles — including the slow work of clearing mines from shipping lanes and unresolved arrangements for moving cargoes through the Strait of Hormuz — leave real downside risk. The agency stressed that its 2027 rebound is subject to a substantial level of uncertainty tied directly to whether the proposed deal sticks.
Refineries remain under pressure in the meantime. The report sees crude processing shrinking by 2 million barrels a day this year, to 82 million, led by a steep drop over the spring, before recovering by about 3.1 million barrels a day in 2027 as crude supplies normalize.
If the glut does materialize, the agency framed it as a rare opening. A wave of surplus oil, it said, would give governments and companies a chance to refill drained tanks and even build new strategic reserves — a priority for many countries now rethinking their energy plans after the shock of the past several months. For drivers and households that have been squeezed at the pump and on home heating, a market tipping back toward oversupply would be the clearest sign yet that the worst of the price spike is in the rear-view mirror — so long as the guns stay quiet.
JBizNews Desk
Wall Street
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STAT+: Following dispute with FDA, UniQure is cleared to submit Huntington’s treatment for approval
The Food and Drug Administration has reversed its opposition to a closely watched experimental treatment for Huntington’s disease, clearing a path for its maker, the biotech company UniQure, to file for U.S. approval, the company said Wednesday.
UniQure will submit a marketing application in the third quarter seeking accelerated approval for the treatment, called AMT-130. The decision comes after a recent meeting with FDA officials during which the agency agreed that a three-year analysis of an early-stage study that showed a benefit for patients with Huntington’s was “acceptable” to support a marketing application, the company said.
These are the same AMT-130 data that former FDA officials, most notably Commissioner Marty Makary and Vinay Prasad, the agency’s top regulator of cell and gene therapies, previously concluded were insufficient to support a marketing application.
Trump administration will bring special ed to HHS
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Good morning. The season finale of the “First Opinion Podcast” airs today. Sarah Mupo, STAT’s director of editorial operations and lead gal in charge of the style guide, joined Torie Bosch to discuss the decision to keep “health care” two words. Take a listen.
STAT+: Is Abridge’s ‘patient centered’ claim a bridge too far?
You’re reading the web edition of STAT’s AI Prognosis newsletter, our subscriber-exclusive guide to artificial intelligence in health care and medicine. Sign up to get it delivered in your inbox every Wednesday.
I cried reading about people’s shared moments with strangers at the bottom of last week’s edition of “We’re Here,” the community newsletter from Hank and John Green.
My colleague Eric Boodman’s stories usually make me cry as well, but his recent article about babies being born with congenital syphilis, which is usually totally preventable with penicillin from Pfizer, made me want to tear my hair out.
24/7 Stock Trading Coming? SEC Reportedly Nears Landmark Crypto Rule Shift— Here’s What To Know
The U.S. Securities and Exchange Commission (SEC) is reportedly moving closer to allowing crypto firms to offer blockchain-based stocks.
The crypto industry is optimistic about the potential of tokenized stocks to transform the stock markets. The new model could enable 24/7 trading and instant settlement, thereby increasing liquidity and reducing transaction costs, Reuters reported on Wednesday.
SEC Chair Paul Atkins is expected to introduce an “innovation exemption” in the coming weeks that would allow companies to venture into new digital asset business models without strictly adhering to all of the SEC’s disclosure and investor-protection rules, according to the report.
The exemption could allow companies to offer tokenized versions of U.S. stocks, potentially reshaping equity markets over time. If adopted more broadly, it could enable crypto firms to compete directly with traditional brokerages such as Morgan Stanley (NYSE:MS), E*Trade, and Charles Schwab Corporation (NYSE:SCHW).
Some regulators and Wall Street …
Federal Reserve Meeting Crypto Preview: What Does Chair Kevin Warsh Mean For Bitcoin?
Bitcoin (CRYPTO: BTC) has dropped 10% within days of each of the last six FOMC decisions,—and today the Federal Reserve meets under new Chair Kevin Warsh for the first time.
Two Words From Warsh Will Move Bitcoin: Transitory or Persistent
Analyst Andre Jek laid out the two-scenario framework traders need to watch. If Warsh uses language suggesting Iran war inflation is temporary, that dovish read sends risk assets higher.
If he signals inflation is persistent, markets sell off. A third path matters just as much: any mention of bond market stress or Fed tools to support Treasuries signals quantitative easing is coming, and historically that sends gold and Bitcoin up almost immediately.
US 10-year yields have already fallen from 4.68% to 4.42% over the past 30 days, and Japan’s 20-year yield dropped 9.5% in 27 days.
Bond prices are rising globally as money flows into safety. Rate …
UK-Iranian national charged with arson at London memorial wall
A man who holds both British and Iranian nationality has been charged with an arson attack in April on a memorial wall in a north London area that is home to a large Jewish community, police said on Wednesday.
Ali Reza Fallahi, 45, has been charged with carrying out the attack on the wall in Golders Green, which contained pictures of protesters who were allegedly killed by the Iranian state in January. He is due to appear at London’s Westminster Magistrates’ Court on Thursday.
“This charge marks another step forward in one of the investigations into the series of arson attacks targeting the Jewish community and Iranian diaspora in London,” said Helen Flanagan, head of counter terrorism policing in London.
A 38-year-old woman who was also arrested in connection with the arson has been released and faces no further action.
This attack is one of many with possible links to Iran
The incident was one of a number of arsons carried out on Jewish sites in Golders Green during a spate of attacks, with police saying they were investigating whether they had possible Iran links.
Two Jewish men were also stabbed, prompting the government to raise the national terrorism threat level to “severe” from “substantial.”
Bitcoin, Ethereum, XRP Drop Up To 3%, But Data Says Sentiment Is ‘Healthy’
Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and XRP (CRYPTO: XRP) sentiment is improving after the U.S.-Iran agreement eased geopolitical fears, though traders remain cautious after months of volatility.
“Healthy” Sentiment For Majors
Santiment Intelligence said on X on June 17 that sentiment across crypto’s three largest communities has moved out of recent fear zones following the reduction in geopolitical uncertainty.
The crypto intelligence platform said bullish-to-bearish commentary now stands at 1.52 bullish posts for every bearish post on BTC, 1.40 for ETH and 1.65 for XRP.
These readings are termed “healthy” noting that optimism has improved …
US-Iran deal gains G7 support as leaders call for Hezbollah disarmament, Lebanon ceasefire
Leaders of the G7 countries demanded a ceasefire in Lebanon on Wednesday and said they will diversify energy supply routes to reduce dependence on the Strait of Hormuz in response to the war in Iran, as they welcomed an interim deal to end the conflict.
The leaders met for a summit in the French town of Evian-les-Bains on Lake Geneva, while details of the US-Iran ceasefire agreement trickled out of Washington and Tehran ahead of its formal unveiling, expected on Friday across the nearby Swiss border.
The US-Iran agreement is expected to launch negotiations towards a final settlement to end the war, which has killed more than 7,000 people, mostly in Iran and Lebanon.
“We underline the need for the negotiation … to address the threats posed by Iran in the region and beyond and ensure that they never obtain a nuclear weapon,” the leaders said in a statement.
The summit gave US President Donald Trump a chance to present his deal with Iran to major allies Britain, Canada, France, Germany, Italy, and Japan.
While allies share concerns over Iran’s nuclear program, they didn’t endorse going to war
They mostly share Washington’s concerns about Iran’s nuclear program and other issues, but never endorsed his decision to go to war and worry that Tehran gained leverage by withstanding the superpower onslaught and asserting control over the strait.
The leaders said they were ready to contribute to the implementation of the accord, with a coalition led by Britain and France set to help secure shipping once the Strait of Hormuz reopens as expected on Friday.
The memorandum of understanding signed by Washington and Tehran this week, though yet to be made public, extends a ceasefire announced in April by another 60 days to allow the warring countries to negotiate a permanent truce.
The US president appears to have achieved little of what he said he wanted at the outset of the war. Iran’s theocratic government remains in place, its stockpile of highly enriched uranium has not been surrendered, its ballistic missile capabilities have not been destroyed, and it has not ended its support for anti-Israel militias like Hezbollah in Lebanon.
Trump said the agreement states that Iran will not have a nuclear weapon, a restatement of Iran’s official position since the 1970s, and US officials say further discussions will lead to the removal or destruction of its enriched uranium stockpile.
But ending the war on such terms could still expose Trump to criticism, including from hawks within his own Republican party, ahead of midterm elections in November.
One of the biggest questions still hanging over the truce is the fate of Lebanon, which Israel invaded in March to root out Hezbollah after the terror group fired across the border in solidarity with Tehran following US-Israeli strikes on Iran.
Israeli forces still occupy a swathe of southern Lebanon, where more than a million people have been driven from their homes, while Hezbollah remains undefeated.
Iran says the ceasefire must also end hostilities in Lebanon, and that a permanent deal must lead to an Israeli withdrawal. Israel, which was excluded from the US-Iran peace negotiations, says it will not withdraw and reserves the right to use military force.
That has opened up a rift between Israel and the United States, with Trump publicly berating his wartime ally, Israeli Prime Minister Benjamin Netanyahu. On Tuesday, Trump said at the summit that he was “not happy” with the way Israel had handled itself.
“Without us, without the United States, there would be no Israel. Without me, there would be no Israel, because no other president was willing to do what I did,” Trump said.
In their statement, the G7 leaders called for an “immediate robust ceasefire” in Lebanon and the disarmament of Hezbollah.
A Hezbollah spokesperson told Reuters the group believed Iran would not agree to a permanent truce if the Israeli occupation did not end.
After decades of US and international financial sanctions that pushed Iran’s economy to the brink, a peace deal could deliver economic benefits. The memorandum includes a $300 billion reconstruction fund, paid for by neighboring Gulf states, if Iran complies with other terms.
In the coming 60 days, negotiators will return to difficult issues such as the future of Iran’s nuclear program. But Iran’s support for regional militia groups and its missile arsenal do not appear to be on the agenda, in what would amount to major US concessions.
Oil prices continue to fall on announcement of the deal
Oil prices fell again on Wednesday on prospects for the reopening of the Strait of Hormuz, with Brent crude futuresLCOc1 below $80, at their lowest level since the opening salvos of the US-Iran conflict.
A senior US official said the US will waive sanctions on Iranian oil under the deal to end the war, raising the prospect of millions of additional barrels of supply, though industry officials say Middle East oil and gas output will take months to fully recover.
The G7 leaders said they had committed to “accelerate the diversification of energy supply routes in order to reduce global vulnerability to the Strait of Hormuz and to increase our energy stocks.”
G7 Leaders’ Drive to Lead on Artificial Intelligence Collides With American Export Limits and China’s Grip on Key Minerals
The leaders of the Group of Seven gathered in Évian, France, this week wanting to show the world a united front on artificial intelligence. Instead, their push is running into two hard walls: the United States’ insistence on protecting its own technology lead, and China’s tight grip on the raw materials that AI depends on.
The summit, hosted by French President Emmanuel Macron and running through Wednesday, has put AI near the top of the agenda alongside the wars in Ukraine and the Middle East. Macron has courted the technology world to make his case, even inviting OpenAI chief executive Sam Altman to attend. But the deeper the leaders dig, the clearer it becomes that “G7 cooperation” on AI is complicated by how lopsided the field really is.
Consider the numbers. In 2025, roughly 79% of newly funded AI companies across the G7 were based in the United States, according to the Atlantic Council. France, the host, accounted for about 3.4%. When one member so thoroughly dominates an industry, agreeing on shared rules becomes a negotiation over advantage, not just principle.
That is the first wall. Washington has made clear it opposes binding multilateral agreements on AI that could dull its edge. Instead of signing onto shared governance, the United States is promoting what officials call the “American AI technology stack” — a push to export U.S. hardware and software, often backed by financing from the Commerce Department, so other countries build on American systems rather than Chinese ones. Add in U.S. export controls that restrict the sale of the most advanced AI chips abroad, and the message to allies is less “let’s write rules together” and more “build on our platform.” References to AI governance in this year’s summit language are expected to be watered down as a result.
The second wall is China, and it may be harder to climb. Artificial intelligence is not just software. It runs on physical hardware — chips, servers, data centers — and that hardware depends on rare earth elements and other critical minerals. China controls an estimated 80% to 90% of the global supply of those materials, and it has spent the past year tightening export controls on them. A suspension of some of the toughest restrictions is set to expire on November 10, less than five months away, and if it lapses, a wide swath of the world’s electronics supply chain would again need Chinese approval to operate.
The stakes are enormous. The International Energy Agency, in a report prepared for France’s G7 presidency, estimated that full enforcement of China’s controls could put $6.5 trillion a year in economic output at risk for countries outside China, with losses in the auto industry alone topping $3 trillion. The G7 has responded with a Critical Minerals Action Plan and more than $6.4 billion in new mining and processing projects, but the work is slow, and members remain divided over how confrontational to be with Beijing.
Here is why this matters beyond the summit photographs. The AI economy everyone is racing to build rests on three things: the software, where American firms dominate; the chips and the minerals inside them, where China holds the leverage; and the energy to run it all. The G7 can talk about leading together, but the United States holds most of the software and China holds most of the materials, leaving the rest of the bloc squeezed in the middle. For businesses, that shapes where the next factories and data centers get built. For ordinary people, the same mineral controls touch the price and availability of cars, phones and home electronics.
Leaders are expected to issue several statements before the summit closes on Wednesday, and French officials have promised “very concrete” progress on securing supply chains. Whether that means real action or more careful language is the open question. The pressure will not ease soon: China’s control suspension expires in November, and the United States takes over the G7 presidency next year, putting Washington and its go-it-alone instincts on AI in the host’s chair.
For now, the G7’s ambition to shape the future of artificial intelligence is bumping up against a simple reality. The technology may be global, but the power over it is not evenly shared.
JBizNews Desk
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Acting Labor Secretary pressures 53 states and territories to tackle unemployment insurance program fraud
FIRST ON FOX — Acting U.S. Labor Secretary Keith Sonderling is sending letters to the governors of 53 U.S. states and territories demanding “immediate action” to combat fraud, waste and abuse within the unemployment insurance program.
“In the letters, the department announced its intent to crack down on rampant fraud and end mismanagement, improper payments, and corruption within the UI program. Acting Secretary Sonderling notified states that, in partnership with the Office of the Inspector General, the department will use every available enforcement tool — including withholding administrative funds from states for the first time in history — to ensure compliance in protecting UI system integrity and safeguarding taxpayer dollars,” a statement obtained by FOX Business reads.
“We are officially putting governors on notice,” Sonderling said in a statement. “The American people will no longer tolerate the blatant waste, fraud, and abuse of their hard-earned tax dollars — no state should allow it either. If states allow it, they will suffer the consequences. This department is no longer afraid to use every lever available to ensure taxpayer money is protected.”
This is a developing story. Please check back for updates.
Released Palestinian terrorists demand right to return to West Bank, Egypt
Palestinian terrorists released during hostage-ceasefire deals should be allowed to return to the territories to reunite with their families, officials from the Palestinian Liberation Organization asserted online last week.
“After the crime of arrest comes the crime of deportation. These heroes, who have paid a high price with their lives and bodies, continue to pay a heavy price today as they see their children and families only through phone cameras. They are unable to experience life’s moments with them, which has created a pain of longing in their hearts that endangers their mental state and their daily lives,” PLO Commission of Prisoners’ Affairs Director Raed Abu Al-Humus wrote.
Al-Humus replaced Qadura Fares in February last year after his predecessor reportedly took issue with Palestinian Authority President Mahmoud Abbas’s now-largely unfulfilled commitment to end pay-for-slay payments for terrorists.
Despite replacing Fares, Al-Humus is a member of the board of trustees of the Palestinian National Economic Empowerment Institution (PNEEI), the body that has now replaced the pay-for-slay payments with a welfare system of coverage.
He added, “The press conference organized by the deported prisoners to Gaza, which represents all deported prisoners in all their places of residence, is a humanitarian message to the international community and all the free people of the world, that you have a great humanitarian responsibility to end this forced separation between the deportees and their families, and that this separation between them by the decisions of the hateful Israeli occupation authorities is unacceptable.”
Released prisoners hold event seeking international pressure
Released terrorists organized the event ‘Cry of the Released Prisoners’ event on June 6, hoping that international media attention could incite the United Nations and other foreign powers to allow released prisoners to cross through territories, according to released prisoner Jalal Al-Faqih, who was sentenced to life in prison for his participation in the second intifada.
The event was held outside Nasser Hospital in Khan Yunus, according to Al-Faqih’s Facebook post.
In an interview Al-Faqih did with the Turkish-state funded media site TRT World, the released prisoner claimed he was supposed to be deported to Egypt, where he has family, but was instead released in Gaza.
From Nablus, Al-Faqih complained of a lack of support in Gaza and his inability to spend time with his elderly parents. He claimed the Red Cross originally promised that he would be transferred to Egypt, but such a movement never took place.
Sameer Zaquot told the Turkish site that the transfer constituted a war crime under the Geneva Convention, as it was considered forced deportation.
While the issue of Israel’s security was of great concern during the hostage-ceasefire negotiations, leading a number of Arab states to accept the responsibility of accepting the released terrorists, Palestinian Media Watch founder Itamar Marcus told The Jerusalem Post that he believed international bodies would deprioritize such concerns in favor of Palestinian prisoner wishes.
“Sadly, there’s a very good chance that the UN and the so-called human rights organizations will support the Palestinian Authority project to have terrorist murderers returned to the PA areas,” he commented. “UN officials have already described the October 7th atrocities as a Palestinian response to suffering, and the so-called human rights organizations have consistently blamed Israel. Their rationalization is that since Israel is the evil imperialist state, Palestinians have a right to ‘resist,’ which is their euphemism for terror.”
Former Israeli official points to European praise for Marwan Barghouti
Noting the seemingly widespread embrace of convicted Fatah terrorist Marwan Barghouti throughout Europe, Marcus said that such a development would be unsurprising.
“We merely have to look at how human rights organizations and European countries have embraced mass murderer Marwan Barghouti,” he asserted. “This is a terrorist convicted of five murders and responsible for many more, and yet voices in Europe have turned him into a hero and have been demanding his release from prison. Some places have even given an honorary citizenship.”
“It might not be immediately, but certainly in the not-too-distant future, we’re going to be hearing voices around the world calling for these terrorist murderers to be returned to the PA areas.”
Somaliland Defense Minister says IDF will not establish presence in their country
There is no Israeli military presence in Somaliland and no talks for Israel to open a base there, Somaliland’s Defense Minister Mohamed Yusef Ali told Reuters on Wednesday.
Speaking on the sidelines of a business conference in Tel Aviv, he said Israel was training Somaliland’s military and police, but called reports that Israel was in negotiations to establish a military base in Somaliland “rumors.”
Michael Lotem, Israel’s ambassador to Somaliland, declined to comment.
Strategically situated on the Horn of Africa, Somaliland has enjoyed effective autonomy and relative peace and stability since 1991, when it broke away from Somalia as that country descended into civil war.
Israel recognized Somaliland as an independent state last December, the first country to formally do so, in a move Somalia rejected and termed a “deliberate attack” on its sovereignty.
In February, Somaliland President Abdirahman Mohamed Abdullahi told Reuters that while Somaliland hopes for future military cooperation with Israel, establishing Israeli military bases had not been discussed.
The Somali Guardian reported on Sunday that Israel had opened an intelligence base in Somaliland and there were discussions over the possible establishment of an Israeli military base.
Israel-Somaliland relations are new but developing quickly
After Israel and Somaliland formally established diplomatic relations in December, the two nations quickly set about building a working infrastructure. Somaliland President Abdirahman Mohamed Abdullahi and First Lady Fardowsa Mohamed Roble, accompanied by a senior delegation, arrived in Israel on Sunday for further discussion.
This comes a month after Somaliland’s new Ambassador to Israel, Mohamed Hagi, announced that the Embassy of the African Republic will be based in Jerusalem.
However, these diplomatic ties have not come without backlash. Though Somaliland has had a quiet, under-the-radar relationship with Israel for several years, a coalition of 14 pro-Palestinian nations condemned the alliance, calling it illegal and saying that east Jerusalem was under Israeli occupation.
This was not a concern for Abdullahi at the time, and relations between the two nations persist.
Shir Perets, Miriam Sela-Eitam, Amichai Stein, Greer Fay Cashman, Avi Solomon, Ruby Sadikman, and James Genn contributed to this report.
These new 84-ft L.A. towers could alter the arc of housing reform
If all goes well, a string of low-slung retail buildings along the Los Angeles River could become one of the largest apartment developments to rise from California’s housing reforms.
Los Angeles City Planning Commissioners last week unanimously approved Riverwalk at Studio City, an 814-unit residential building on six acres of underused commercial property in L.A.’s Studio City. The vote marked a significant milestone for a project that would not have had a realistic path to approval not long ago, as its height and density far exceeded local limits.
California has become the nation’s most aggressive laboratory for housing reform, dismantling decades of local zoning control through a succession of state laws designed to force cities to build more homes. Facing a shortage economists estimate at more than 2.5 million units, Sacramento has systematically stripped away the defense mechanisms — height caps, environmental review mandates, parking minimums, discretionary approval processes — that municipalities long used to limit growth.
“The Housing Accountability Act is a game changer for us,” Sheri Bonstelle, a Greenberg Glusker attorney representing the developers, told HousingWire TBD. It combined with new environmental review exemptions “made this project much more feasible.”
California’s accountability law has barred cities from denying housing projects without cause since 1982. Designed as an early anti-not-in-my-backyard measure, it precludes rejections unless a project poses a specific threat to public health and safety.
But lawmakers have gone through three separate rounds of adding muscle to close loopholes and end-arounds in the law since 2017 as part of broader housing reform.
Last year’s changes to the accountability law came alongside reforms to the 1970 California Environmental Quality Act. Together, those updates shield certain residential projects from lengthy environmental reviews.
What has emerged now stands as a new legal architecture that other states are watching closely. It effectively subordinates neighborhood preferences to a statewide imperative to build more housing at greater density.
Project in the making
Genton Property Group, RC Development, and the Torino Companies plan to demolish the existing retail buildings and replace them with a series of two-to seven-story structures reaching as high as 84 feet. The project will include 76,000 square feet of commercial space and a landscaped pedestrian corridor connecting Ventura Boulevard to the river. MVE + Partners designed the project.
The team had been eyeing the site for a couple of years and considered filing earlier. But Bonstelle said they held off, waiting for legislation moving through the state legislature to pass. With the law signed, developers filed the application last October.
“We got to a hearing in seven months, which is unheard of in the City of L.A.,” Bonstelle said.
Without the new state laws, none of it would be permissible under local rules. A 1991 corridor plan limits buildings on the site to 30 feet tall. It also caps how much of a lot can be developed.
Riverwalk’s proposed building heights of 84 feet are nearly three times the local limit. Developers cleared that barrier by promising to set aside 46 affordable units for very low-income renters under a 99-year covenant. That commitment legally obligates the city to approve the larger project.
In exchange, state law compels the city to approve height waivers, density increases, setback reductions and the near-elimination of a transitional height buffer that would otherwise protect the single-family neighborhood directly behind the site.
Two formal appeals came before the commission at its June 11 hearing. Opponents argued the project’s scale was incompatible with the surrounding neighborhood, inconsistent with the Specific Plan and damaging to the river environment. Commissioners denied both appeals.
What’s next
The project is not out of the woods. The commission’s decision is appealable to the Los Angeles City Council, and opponents have indicated they intend to take that step.
A Council appeal puts elected officials in an uncomfortable position: block a project backed by state law and invite legal exposure or approve one that a vocal constituency has fought at every stage.
That friction is built into California’s housing reform architecture by design. Laws passed in Sacramento over the past decade were written to make local resistance costly, while making building more housing easier.
They shift discretion away from neighborhood councils and planning commissions toward a statewide calculus that treats density near transit and infill sites as a public good.
The L.A. City Council members may have the final say on the Studio City project. Council members opposed state reforms and have now shown resistance to them following their enactment.
Elon Musk Is a Trillionaire And SPCX Is Up 50%: So Why Is Dogecoin Not Pumping?
SpaceX (NASDAQ:SPCX) has surged 50% since its June 12 IPO to $201.80 while Dogecoin (CRYPTO: DOGE) is trading flat, exposing the clearest evidence yet that the Elon Musk effect on DOGE is dead.
SPCX Has Real Revenue, DOGE Has Tweets
SpaceX priced at $135, opened at $150, and hit an all-time high of $225.64 on June 16.
The company posted $18.7 billion in revenue in 2025, holds 12 million Starlink subscribers across 160 countries, and just announced a $60 billion acquisition of Cursor, the AI coding tool running at $4 billion in annual recurring revenue.
Combined with compute deals with Google and Anthropic, SpaceX’s projected 2026 revenue run rate reaches an estimated $55 billion.
DOGE’s response to Musk becoming the world’s first trillionaire was a 7.6% intraday …
Can Vance Sell the Iran Deal?
AI Companies Borrow Billions at Near-Zero Interest by Selling Bonds That Can Turn Into Stock
U.S.-listed companies have sold about $54 billion of convertible bonds so far this year, up 43% from the same stretch of 2025 and the highest year-to-date total since the start of the COVID-19 pandemic, according to Dealogic data going back to 1995. The buyers powering that rush are artificial-intelligence companies hungry for cash, and the terms they are getting are remarkably cheap — in some cases, effectively free.
A convertible bond is a hybrid. Like a normal bond, an investor lends a company money. But the bond comes with a feature that can work in everyone’s favor: if the company’s stock climbs to a predetermined price, the investor can convert the bond into shares and participate in the stock’s gains. Investors like it because they get the relative safety of a bond plus exposure to stock-market upside. Companies like it because that upside allows them to borrow at far lower rates than traditional debt would require.
How low? Many AI issuers are paying coupons as small as 0%, meaning no interest at all. Investors accept those terms because AI stocks move so dramatically that the option to convert into stock is valuable on its own. The more volatile the shares, the more valuable that conversion feature becomes — and AI stocks have been among the market’s most volatile.
Akamai Technologies, the cybersecurity and cloud-computing company, recently demonstrated just how attractive the market has become for issuers. The company sold $3.5 billion in zero-coupon convertible notes split between maturities in 2030 and 2032. The 2030 notes can convert at $201.41 per share, a 42.5% premium above Akamai’s $141.34 closing price on May 19, while the 2032 notes convert at $190.81, a 35% premium. Chief Financial Officer Ed McGowan said the company entered the market while its stock traded near a 26-year high and volatility was elevated. He described convertibles as the cheapest and most efficient financing tool available to the company.
The largest names tied to the AI boom are taking advantage of the same opportunity. CoreWeave recently issued $4 billion of convertible bonds carrying just a 1.75% interest rate. Oracle raised $5 billion through a similar transaction earlier this year, while Microchip Technology has also been active in the market. According to CoreWeave executives, the volatility that accompanies fast-growing AI businesses is exactly what makes these securities attractive to investors and easy for companies to sell.
Investors have been rewarded for their enthusiasm. The ICE BofA U.S. Convertible Index has gained more than 20% this year, outperforming broader equity benchmarks. By comparison, the S&P 500 has risen roughly 10%, while the Nasdaq Composite has advanced about 13%. Joe Wysocki, senior co-portfolio manager at Calamos Investments, summed up the appeal succinctly: “Convertibles are growth capital for growth issuers, and I don’t think you can think of a better growth opportunity than AI.”
Behind the financial engineering lies a very real economic story. The money raised through these offerings is helping fund the physical buildout of artificial intelligence infrastructure — data centers, power systems, networking equipment, and the advanced chips that AI models require. The spending supports construction firms, electrical contractors, utility providers, and manufacturers supplying servers and networking hardware. Convertible bonds have quietly become one of the primary financing tools behind the AI expansion, meaning the health of this corner of the debt market reaches far beyond Wall Street.
There are risks. Because convertible bonds can eventually become shares, they can dilute existing stockholders if conversions occur. That potential dilution is one reason some large companies avoid them. The securities can also lose value quickly if AI stocks fall sharply, since much of their appeal comes from the possibility of converting into higher-priced shares. A market that rewards growth generously can reverse course just as quickly when expectations are missed.
For now, however, momentum remains firmly with issuers. Bankers expect additional deals as more AI-related companies enter public markets and seek capital to fund expansion. The flood of near-free money reflects the extraordinary confidence investors currently have in the long-term growth of artificial intelligence.
The real test will come when the AI rally eventually slows, if it does. Until then, companies appear likely to keep borrowing billions at rates that would have seemed unimaginable only a few years ago.
Wall Street – JBizNews Desk
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One killed as small jet plane crashes, catches fire on Texas highway
A small jet plane carrying six people crashed into a vehicle on a highway in Laredo, Texas, on Tuesday night, leaving one dead, authorities said.
Five others were hospitalized for smoke inhalation.
The plane was believed to be a Cessna Citation, according to information on Flightaware.
Onlookers left their cars to help at the scene in an effort to smash the cockpit windshield and free the passengers. The aircraft crashed just after 10 p.m., prompting complete road closures.
This is a developing story.
Netanyahu rejects prosecution’s ‘absurd’ Case 2000 thesis during defense questioning in court
The rebuttal stage in Prime Minister Benjamin Netanyahu’s criminal trial continued at the Tel Aviv District Court on Wednesday, with the questioning shifting from the prosecution’s cross-examination to the attorneys for Netanyahu’s co-defendants in the media-related cases.
The hearing was led in part by Sharon Kleinman, the attorney for Yediot Aharonot publisher Arnon “Noni” Mozes, who questioned Netanyahu over the prosecution’s claim that the alleged understandings between Netanyahu and Mozes were reflected in less negative coverage of the prime minister in Yediot Aharonot and Ynet after their sixth meeting in December 2014.
“This thesis by the prosecution is absolutely absurd,” Netanyahu said when asked to respond to the claim that the coverage by the Yediot group had shifted.
Case 2000 centers on conversations between Netanyahu and Mozes ahead of the 2015 election. According to the indictment, Mozes offered to improve coverage of Netanyahu in Yediot Aharonot and Ynet and worsen coverage of his political rivals in exchange for Netanyahu using his influence to promote restrictions on Israel Hayom, the free daily newspaper that posed a major economic threat to Yediot Aharonot.
Netanyahu is charged in the case with fraud and breach of trust, while Mozes is charged with offering and promising a bribe. Both deny wrongdoing.
Prosecution says Yediot, Ynet coverage skewed by corruption
Kleinman’s questioning appeared aimed at taking the prosecution’s cross-examination of Netanyahu and extracting from it the explicit or implicit theses that could affect Mozes’s defense.
In practice, that meant testing the prosecution’s contention that Yediot and Ynet coverage could be treated as part of the alleged benefit offered to Netanyahu, and that a change in tone after the December 2014 meetings supported the prosecution’s narrative.
Kleinman told Netanyahu that after the sixth meeting between him and Mozes in December 2014, the communication between them continued for roughly another month before ending badly, and suggested that there had been less negative coverage during that period.
She then presented several examples of negative coverage and asked Netanyahu to respond, in what appeared to be an effort to challenge whether the coverage actually reflected the prosecution’s theory.
Netanyahu’s answer was consistent with his broader line throughout Case 2000: that Yediot Aharonot and Ynet remained hostile to him, that Mozes had significant influence over the media and political arena, and that the conversations with Mozes were not a corrupt bargain but part of Netanyahu’s attempt to prevent or blunt legislation that would have harmed Israel Hayom.
The questioning came after prosecutor Yonatan Tadmor spent recent hearing days pressing Netanyahu on whether he had sought to give Mozes the impression that he was acting to advance or soften the so-called Israel Hayom bill.
Netanyahu has denied that, saying he opposed the law and sought to stop it. In previous testimony, he has said that if he could not block the bill entirely, he tried to soften it, and that ultimately he dissolved the Knesset, thereby ending its legislative path.
Wednesday’s hearing also took place against the now-familiar backdrop of Netanyahu’s dual role as a criminal defendant and sitting prime minister. Before a break at around noon, Netanyahu said in court, “We are in a diplomatic process with several countries,” while referring to his schedule.
He was expected to leave for the nearby Kirya military headquarters at 2 p.m. for approximately 15 minutes, had another call scheduled for 3 p.m., and was expected to leave the hearing for good at 3:45 p.m., according to the schedule discussed in court.
The trial has repeatedly been affected by Netanyahu’s security and diplomatic schedule, including shortened or canceled hearing days. The court has continued to balance the prime minister’s official duties with the need to move forward in a case that opened in 2020 and in which Netanyahu’s testimony began in December 2024.
After the current section of questioning by the co-defendants’ attorneys concludes, Netanyahu’s own defense team is expected to conduct a short re-examination
Bezeq, Walla owners co-defendants in Case 4000, bribery, fraud, breach of trust
Netanyahu is on trial in three cases. In Case 1000, he is charged with fraud and breach of trust over gifts allegedly received from wealthy businessmen. In Case 2000, he is charged with fraud and breach of trust over the Mozes talks. In Case 4000, he is charged with bribery, fraud, and breach of trust over allegations that regulatory benefits were advanced for Bezeq in exchange for favorable coverage on Walla.
Shaul and Iris Elovitch, the former controlling owners of Bezeq and Walla, are also defendants in Case 4000 and deny wrongdoing.
Netanyahu denies all charges and has repeatedly described the cases against him as politically motivated. Mozes and the Elovitches also deny wrongdoing.
Gov’t call center quality falls, public service scores climb, digital access rises, audit finds
State Comptroller Matanyahu Englman found that public service improved in most of the seven public bodies examined in a follow-up report published Wednesday, but warned that several key agencies still provide service below the average, especially through telephone call centers.
The special follow-up report by the State Comptroller’s Office examined the quality of service provided by the National Insurance Institute, the Israel Tax Authority, the Population and Immigration Authority, the Transportation Ministry, Amidar, the Israel Electric Corporation, and the Israel Land Authority. The same bodies were reviewed in a previous report published in November 2024, allowing the ombudsman to compare whether lessons were learned.
Englman said public servants must provide efficient, accessible, and respectful service to every person, but that the level of service in some bodies was “still far from sufficient,” mainly in call centers. About a third of the complaints handled by his office each year concern public service, he said, showing how central the issue is for the public.
The report gave each body a weighted score based on three areas: service at physical reception centers, which accounted for 50% of the score; information and services on the body’s website, which accounted for 25%; and telephone call center service, which accounted for 25%.
The proof is in the numbers for public service improvement
The average weighted score for all bodies rose from 70.8 in the previous survey to 73.9 in the current one. Almost every body improved its overall score, except the Transportation Ministry, whose score dropped from 75.6 to 69.5. Englman said the ministry must conduct an internal review because of the decline in its phone service.
The Israel Electric Corporation received the highest weighted score, 87.7, up from 81.1 in the previous survey. It led both in website service, with a score of 96, and call-center service, with 96.7, and also led in-person service, with 79.1.
The Population and Immigration Authority received the lowest overall score for the second survey in a row, though it improved from 59.2 to 63.3. It was dragged down mainly by its telephone service, which scored only 38.6, the lowest of all bodies examined. The authority did improve from its previous call-center score of 31.4, but remained far below the average.
At physical service centers, the average score rose slightly from 70.2 to 70.9. Staff from the Comptroller’s Office conducted 21 visits in January 2026, with three visits to each body, in Jerusalem, the South, and the North. The best scores went to the Israel Electric Corporation, 79.1, and the Transportation Ministry, 75.3. The lowest went to Amidar, 62.8, the Israel Land Authority, 64.6, and the Population Authority, 70.6.
The detailed chart on service centers showed particularly weak performance on language accessibility and opening hours. The average score for language service across the centers was only 33.3, and the average for opening hours was 44.5. By contrast, cleanliness and appearance scored 91.8 on average, accessibility aspects scored 88.1, and access and signage also scored 88.1. Many centers looked orderly and physically accessible, but were harder to use for people who needed service in another language or outside narrow hours.
The greatest improvement was found on websites. The average score for information and online services rose sharply from 65.5 to 77.2. The Israel Electric Corporation led with 96, followed by Amidar at 82.3 and the National Insurance Institute at 79.9. The Tax Authority received the lowest website score, 63.1, followed by the Transportation Ministry at 70.7, the Population Authority at 73.2, and the Israel Land Authority at 75.4.
The report noted that the website survey was adjusted because many bodies now provide personal information through private online areas. Even so, the website heat map showed uneven service. Most bodies listed services online, but the average score for online appointment scheduling was only six-point-four out of 10, and the score for contact options was six-point-six.
Call centers are the biggest areas for worry
The most worrying findings concerned telephone call centers. The average call-center score fell from 77.2 to 76.4, making it the only major service channel that declined. Staff tested each call center by placing 30 calls and checking wait times, callback options, operating hours, human service in languages other than Hebrew, and interactive voice response systems in other languages.
Amidar received the highest call-center score, 97.5, followed by the Israel Electric Corporation at 96.7, the National Insurance Institute at 86.8, and the Israel Land Authority at 86.1. The weakest scores were the Population Authority at 38.6 and the Transportation Ministry at 56.8. The Transportation Ministry’s call-center score dropped from 86 to 56.8.
The call-center heat map showed why the gap matters. The Transportation Ministry received almost no credit for average response time, with zero-point-four out of 10. The Population Authority also scored poorly on response time, three-point-nine, and received zero for leaving a message. The Tax Authority received zero for interactive telephone service in other languages. For people who cannot easily use digital services, including older people, people with limited Hebrew, and those without high digital literacy, the phone line is often the main route to government.
Englman’s report, therefore, presents a mixed picture. Public bodies have improved, especially online, and some, led by the Israel Electric Corporation, now provide comparatively strong service. But the bodies most closely tied to daily bureaucratic needs still leave residents struggling to get answers.
The test for ministries and public agencies, the comptroller said, is not only whether they publish more information, but whether people can actually reach someone, understand what they must do, and receive service in a reasonable time.
Traws Pharma Stock Crashes to a Record Low After UK Trial Halt
NEWTOWN, Pa. — Shares of Traws Pharma collapsed on Monday, sinking to an all-time low after the small drugmaker said British regulators had blocked a key test of its experimental flu treatment. In a statement issued late Friday, June 12, the company said the United Kingdom’s Medicines and Healthcare Products Regulatory Agency (MHRA) had given a negative review to its planned mid-stage human study of tivoxavir marboxil, forcing the trial to be postponed.
The reaction was brutal. Traws Pharma stock fell about 17% in early Monday trading and dropped as much as 24% during the session, sliding to roughly $0.97 a share — a new 52-week low for a stock that traded as high as $3.27 over the past year. With limited Wall Street coverage, investors who do follow the company voted with their feet, wiping out a large chunk of its already small market value in a single morning.
Tivoxavir marboxil, the company’s lead drug, is a long-acting antiviral designed to treat and prevent influenza, including dangerous strains of bird flu. The blocked study was a human challenge trial, in which healthy volunteers would have received either the drug or a placebo and then been deliberately exposed to a controlled flu strain. That study was the centerpiece of the company’s near-term plans, and the regulator’s refusal leaves a major hole in its roadmap.
The British decision is especially painful because it follows a similar setback from the U.S. Food and Drug Administration. In February, the FDA placed a clinical hold on the company’s application to test the drug, citing concerns about mutagenicity — the potential of a substance to cause genetic mutations. With both the FDA and the MHRA now raising red flags, the path forward has narrowed sharply.
Traws Pharma is trying to reassure investors that the program still has life. “While we have had a setback in the development of our lead compound for influenza, the program continues to be a high priority,” said Dr. Robert Redfield, the company’s chief medical officer and former director of the Centers for Disease Control and Prevention.
Chief executive Iain Dukes said the feedback affects the timing of the study but not the company’s confidence in the science. He pointed to strong results in three animal models of bird flu and said the company has enough cash to operate into the first quarter of 2027 while advancing backup compounds designed to retain the original drug’s strengths without the mutagenicity concerns.
For a company of this size, timing and cash are everything. Traws Pharma raised up to $60 million in a private placement in April specifically to fund the now-postponed UK study — money raised for a trial that will not happen on schedule. Small clinical-stage drug developers typically have no products on the market and no sales. They survive on investor capital and the promise of future breakthroughs. When regulators halt a lead program, company value can disappear overnight.
Regulators such as the MHRA and FDA serve as gatekeepers between a laboratory discovery and a medicine patients can actually use. Their approval opens the door to testing and commercialization. Their objections can freeze a program, increase costs and force a company back to the drawing board.
For Traws Pharma, back-to-back regulatory setbacks in two countries have forced a strategic reset. The company’s hopes now rest increasingly on backup candidates that have yet to prove themselves in human testing.
The broader stakes extend beyond one stock. Long-acting flu treatments — particularly those that may be effective against bird flu — remain a significant public-health goal. But Monday’s plunge serves as a reminder of how fragile small biotechnology companies can be, and how quickly a regulatory decision thousands of miles away can erase years of investor optimism.
JBizNews Desk
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OpenAI Lost Nearly $39 Billion Last Year as It Raced to Dominate AI, Leaked Financials Show Ahead of IPO
OpenAI, the company behind ChatGPT, lost about $38.5 billion in 2025, according to audited financial documents that surfaced Tuesday, a staggering figure that lands just as the company prepares to sell shares to the public for the first time.
The documents were first reported by technology writer Ed Zitron and independently verified by the Financial Times. They offer a rare look inside one of the most closely watched private companies in the world and arrive days after OpenAI confidentially filed paperwork with the Securities and Exchange Commission for a stock-market debut expected later this year.
The headline number is the loss. OpenAI reported a net loss of roughly $38.5 billion in 2025, compared with about $5 billion a year earlier. However, most of that increase came from a one-time accounting charge of approximately $41.5 billion related to the company’s conversion from a nonprofit into a for-profit entity. Excluding that and other one-time items, the loss was closer to $8 billion. The company’s operating loss — what it spent beyond revenue to run the business — was approximately $21 billion.
Revenue, by contrast, was the bright spot. Sales reached $13.07 billion in 2025, more than triple the $3.7 billion OpenAI brought in during 2024 and ahead of the company’s own internal target of $10 billion. Few private companies ever reach that size. The problem is what it costs to get there.
OpenAI spent about $34 billion last year, far more than it took in. The biggest line item was research and development at roughly $19 billion, followed by nearly $6 billion on sales and marketing. Running ChatGPT and training newer models requires enormous banks of computer chips, vast data centers, and large amounts of electricity, and those costs climb with every new user and every question answered.
Unlike traditional software businesses, where serving one more customer is almost free, each AI request carries a real and recurring expense.
Much of that money flows to Microsoft, OpenAI’s largest partner and the provider of the cloud computing infrastructure behind its products. The documents show OpenAI paid Microsoft approximately $17.2 billion in 2025, while Microsoft paid roughly $303 million back. That dependence is one reason the two companies remain closely linked, and why OpenAI’s spending affects chipmakers, power companies, and data-center builders across the economy.
Here is why this matters beyond Silicon Valley.
OpenAI is preparing to ask public investors — including retirement accounts, pension funds, and ordinary Americans saving for the future — to buy into a company generating extraordinary revenue growth while still losing billions of dollars annually.
The leaked financials provide the clearest look yet at one of the central questions facing the AI revolution: can the companies leading this race eventually turn explosive growth into sustainable profits?
There are reasons for optimism in the numbers.
The company is becoming more efficient. In 2024, OpenAI spent approximately $2.37 for every dollar of revenue it generated. In 2025, that figure improved to roughly $1.60. If that trend continues, and if OpenAI can either raise prices or reduce the cost of developing new models, a path toward profitability exists.
Chief Executive Officer Sam Altman has told investors he expects revenue to reach $100 billion in the coming years.
OpenAI is also not alone in spending heavily. Rivals including Google, Meta, xAI, and Anthropic are pouring money into the same race, each pushing to release more capable AI systems, often before the economics are fully settled.
That competition can force prices lower while keeping costs elevated, making profitability difficult across the industry.
For now, the leaked documents leave investors with one hard question as the IPO approaches.
The demand for AI is real.
The revenue is real.
What remains unproven is whether any company — OpenAI included — can turn the most expensive technology race in modern business into one that consistently generates profits.
OpenAI declined to comment on the figures.
Wall Street — JBizNews Desk
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Solana Beats Bitcoin And Ethereum As SpaceX IPO Drives Tokenized Trading Boom
The long-awaited U.S.–Iran peace agreement sparked a rally in top tokens in the cryptocurrency market, but the biggest gains didn’t come from Ethereum (CRYPTO: ETH) or Bitcoin (CRYPTO: BTC).
Solana Outperforms The Biggies
Over the past week, Ethereum advanced by nearly 9% and Bitcoin rose 5.89%, as investors boosted risk exposure amid hopes for prolonged global peace.
However, Solana (CRYPTO: SOL), a much smaller asset in terms of market capitalization, has rallied 14%.
| Cryptocurrency | 7-Day Gains +/- | Price (Recorded at 4:30 a.m. EDT) |
|---|---|---|
| Solana | +13.76% | $72.26 |
| Bitcoin | +5.89% | $64,935.22 |
| Ethereum |
+8.91% | $1,760.91 |
SpaceX-Led Surge?
The outperformance could be linked to SpaceX’s blockbuster IPO, which has had a pronounced …
Canada pledges $100m. for Palestinian aid amid UNRWA staff Hamas controversy
Canadian foreign minister Anita Anand announced the country would provide an additional $100 million in funding to support the UN, the Red Cross, the Red Crescent, and other NGOs last week, within days of UNRWA confirming it had terminated the contracts of 70 staff members in Gaza for ties with UNRWA, according to a statement by the foreign ministry.
The funding assistance brings Canada’s total contribution to $500 million for the Palestinian territories. The financial assistance will reportedly help provide emergency medical assistance, food and nutrition, water, sanitation, shelter, protection services, and stabilization initiatives.
“Today, Canada announced $100 million in funding to deliver urgent humanitarian assistance to civilians in Gaza and the West Bank. The funding will be delivered through the UN, Red Cross, and NGO partners, bringing our overall humanitarian assistance to over half a billion dollars,” Anand announced.
“In addition, we also launched the International Peace Fund for Israel and Palestine with the UK and Australia to support civil society organizations in their grassroots work to build peace between Israelis and Palestinians. To this end, we put forward a $1.8 million commitment. We will keep working with both Israelis and Palestinians and thank all civil society organizations present in Paris today for their contributions.”
UNRWA’s official announcement statement on the terminations claimed that the action was taken “to mitigate safety and security risks for the refugees the Agency serves,” and it emphasized that Israel had not provided any evidence to back up its accusations, and that the employees’ firing was not intended to be a validation of those claims.
UNRWA terminates 70 staff members for links to terror group Hamas
The UNRWA staff union complained that “making such a decision without a fair and transparent investigation constitutes a clear violation of the principles of justice.”
The terminations followed the referral of 101 current or former UNRWA staff members to the US State Department for suspension or disbarment over their role in the October 7 massacre and/or affiliation with Hamas by USAID’s Office of Inspector-General.
Following the referrals, a representative from UNRWA told The Jerusalem Post, “We take these allegations very, very seriously, and any allegation of neutrality breach made against staff will be taken very seriously, and that includes alleged membership in sanctioned Palestinian groups.”
“We have a zero-tolerance policy for neutrality breaches, and that means there is no place in UNRWA for terrorists, or criminals, or those who don’t share the values of the United Nations,” he continued.
Tzvi Jasper contributed to this report.
Christian Zionists confront a crisis inside their own camp – analysis
Getting to Jerusalem had become part of the story.
With US strikes on Iran, Iranian missile fire toward Israel, and repeated changes to regional air traffic, travel plans were uncertain for many of those trying to reach the country, as well as for tourists and residents wondering when they would be able to leave. For the pastors, theologians, diplomats, and Jewish leaders who came anyway, the disruption gave the International Christian Embassy Jerusalem (ICEJ) summit a sharper edge than organizers might have expected.
The Jerusalem Summit, which took place between June 9 and 11, was a three-day gathering to discuss Israel, the Church, and antisemitism. By the time it opened, the regional crisis was no longer background noise. It was part of the atmosphere. But the speakers who took the stage were not focused only on Iran, missiles, or flight schedules. Their warning was that another crisis was taking shape inside parts of the Christian world itself, where support for Israel is being challenged by biblical illiteracy, political resentment, social media narratives, and renewed forms of replacement theology.
Organized by one of the world’s best-known pro-Israel Christian organizations, the gathering offered a view from inside the Christian Zionist movement at a moment of unusual anxiety. Speakers repeatedly argued that anti-Israel sentiment is no longer confined to the political left, Muslim communities, or secular activist circles, but is also emerging from parts of the American and European Christian right.
That concern gave the summit a different tone from a standard Christian Zionist conference. It began with music, formal greetings, and a message from Israel’s president, but the language quickly turned urgent. President Isaac Herzog, addressing the summit by video from the President’s Residence in Jerusalem, described antisemitism as a global challenge that required law enforcement, legal action, and education.
“We are witnessing a very disturbing surge of antisemitism all over the world,” he said. “This is a major challenge for humanity. This is the age-old, perhaps the oldest plague in humanity.”
The president told the Christian leaders that countering antisemitism requires “law enforcement, adjudication, and education,” adding that it cannot be accepted that people “erase Israel off the map, the only nation state of the Jewish people.”
‘We need to act now,’ even amidst concerns with Iran
Dr. Jürgen Bühler, president of the International Christian Embassy Jerusalem, said organizers called the summit because they saw a crisis on multiple fronts. He said the decision to hold the gathering was made despite regional instability and uncertainty over flights, and described the event itself as “a miracle,” saying organizers had expected some speakers to cancel, but all had agreed to come.
“We are living in a time of emergency. We need to act now,” Bühler told the audience. “That’s why when people came to me, Jürgen, let’s postpone that meeting, maybe next year is a better time. I said, no, we need to act now. We need to come together, and we need to hold that meeting.”
For Bühler, the concern was not only the rise of antisemitism after Oct. 7, but also the fact that anti-Israel arguments are finding space inside conservative Christian circles. He pointed to voices such as Tucker Carlson, Candace Owens, and Nick Fuentes as “the tip of the iceberg,” but said the deeper problem was silence from pastors and church leaders.
“They’re not silent because they are antisemites or they are against the Jewish people,” he said. “I believe most of them, from the bottom of their heart, they have some warm feelings towards the Jews at least. But I believe it’s blatant ignorance and illiteracy by most pastors about Israel. They don’t dare to speak.”
David R. Parsons, ICEJ’s senior vice president and spokesman, told The Media Line that the summit was born from a sense that Christian Zionists could no longer treat the problem as external.
“After Oct. 7, you’ve had this surge of antisemitism growing around the world, and it was not only on the left and then radical Islam, but it was quite shocking to start seeing it come from the American right and especially the American Christian right,” he said. Parsons said some Christians who still hold a favorable view of Israel are now afraid to say so publicly. “There are actually Christians there who have a heart for Israel, a favorable view of Israel, but they’re afraid and intimidated into speaking out.”
Fear of associating with ‘Zionism’ drives division
That fear, Parsons said, now has practical consequences. He pointed to a recent episode in Dublin, where a planned pro-Israel Christian gathering was canceled after pressure on the venue.
“We had a big meeting. They expected 1,000, 2,000 people in this big stadium in downtown Dublin, where I was going to speak,” he said. “All of a sudden, my little graphic poster of me is being spread on the internet that I’m a supporter of genocide, and we want to cancel this event.” For Parsons, the lesson was clear. “I don’t think we have any choice but to start fighting back as Christians against this intimidation,” he said. “If you want to stand with Israel today and be identified as a Christian Zionist, the word Zionist has become, you know, such a negative term. We have to redeem that term.”
The summit’s sharpest internal debate focused on replacement theology, also known as supersessionism, the belief that the Church has replaced Israel in God’s covenant. Rabbi Pesach Wolicki, executive director of Israel365 Action, told The Media Line that the issue is no longer merely academic.
“In the Christian world today, we have a situation where there are actors who are trying to drive a wedge between Jews and Christians, and they’re weaponizing theology,” he said. “And young Christians are not biblically literate. It’s a very big problem.” Wolicki said young Christians who go to church but do not read the Bible are vulnerable to old theological ideas now being used for political purposes. “What we’re seeing now in the last few years is this resurgence of supersessionism, replacement theology, with a political angle to it, saying that the Jewish people really have no right to be in this land, and that it’s not Christian to support Israel.”
Wolicki argued that the theological answer is not complicated, but that a generation unfamiliar with Scripture is less able to recognize it.
“When you look at the Bible, you see over and over again that God promised the land of Israel to the Jewish people,” he said. “And that it’s the most repeated prophecy in the Bible, that the Jewish people will one day come back to the land.” The modern return of the Jewish people, he said, should have been understood by Bible-believing Christians as confirmation rather than contradiction. “The fact that we did it should make every person who reads the Bible say hallelujah,” he said.
The trend, Wolicki said, is most visible in the United States, where some young conservatives have grown suspicious of foreign commitments and resentful of institutions they believe have turned against them. He contrasted that with many conservative Christian communities in Europe and Latin America, which he described as broadly pro-Israel.
“If you look around the world, and you look at European countries or South American countries, most Christians in those countries are pro-Israel,” he said. “So we have to ask ourselves the question, why is it that among American political conservative Christians we’re seeing a rise in anti-Israel rhetoric?”
The generational divide plays a role
He tied that shift to a wider mood of disaffection among younger Americans.
“When you have a generation that feels that they’ve been marginalized and that they don’t have hope for a brighter future, it’s only natural for them to look for a scapegoat,” he said. “This is really an old playbook, where you have a generation that feels that they’ve been marginalized and then someone, demagogues, take advantage of that, and it’s always easy to blame the Jews.”
Dr. Andrew J. “A. J.” Nolte, an associate professor of politics at Regent University’s Robertson School of Government, said the generational challenge begins with how young people now process information.
“I think the biggest problem that we have is that you are dealing with in Gen Z and Gen Alpha post-literate generations from a theological frame of evangelical Christianity and its related traditions that is primarily a biblical faith,” he told The Media Line. “So if you have a biblical faith, you have to read the Bible. How do you get people in a post-literate generation to read?” Nolte said one answer is to reconnect Scripture to place. “You have to connect the Bible to a place. And that place, of course, is the land where it took place,” he said.
For young Christians saturated with audiovisual content, Nolte said, Israel can help move the Bible from an abstract text into a tangible story.
“If it’s not simply a text, but it’s also a text that’s rooted in a place that took place in a place at a time with people, then you can start connecting beyond the page,” he said.
He argued that churches also need to offer young people something social media cannot: “authenticity, community, belonging, and a rhythm of sacred time that separates young people from the constant, ever-present now.”
Despite the numbers often cited by pro-Israel advocates, Nolte said he remains cautiously optimistic about young Christians. He said low support for Israel among younger Christians does not always mean they have adopted a hardened anti-Israel position.
“If you look under the hood,” he said, “what you’re finding is actually they’re not going to a hardened anti-Palestinian position. They’re either I don’t know, or this doesn’t really affect my life, so I don’t need to know. So it’s apathy.”
That distinction matters, he argued, because apathy can still be challenged through education, relationships, and direct experience.
“I think that there’s still time and there’s still opportunity to turn things around despite all the social media noise,” he said. “Things are bad, but they’re not as bad as people think.”
Some voices were left out to narrow the scope
The gathering did not include much direct engagement with Christian critics of Zionism, Palestinian Christian perspectives, or Christians who argue that support for Israel should be separated from theological claims about covenant and prophecy. Its focus was narrower: how pro-Israel Christians understand the erosion of support inside their own religious and political communities, and how they believe the movement should respond.
The question of experience came up repeatedly. For Christian Zionist leaders, bringing young Christians to Israel remains one of the most effective ways to counter online narratives. This year, the summit itself became part of that argument. Delegates arrived in a week of renewed military exchanges, uncertain flights, and security alerts, and organizers presented their presence as evidence that the relationship between Israel and Christians could not wait for calmer conditions.
Inside the hall, the message was not only that Christians should speak about Israel, but that they should encounter the country directly, meet Israelis, and understand Jewish history as more than an abstract biblical theme.
Ambassador George Deek, recently appointed as Israel’s special envoy to the Christian world, said Israel is also trying to place the relationship with Christians on a more formal and strategic footing.
“The creation of, for the first time, of the position of a special envoy to the Christian world, which doesn’t exist in any other country, by the way, is a statement by the state of Israel that we care deeply about our relations with Christians everywhere,” Deek told The Media Line.
As an Arab Christian Israeli diplomat, Deek said his role is first to listen to Christian communities and then to “tell a fuller story of Israel,” one that does not reduce the country to “good people and bad people and villains and heroes.”
Deek said part of that story is Israel’s position as the one country in the region where Christian communities are growing.
“Israel has become this country that overcame challenges and turned curses into blessings and is basically the only place in this region where Christian community is actually growing and where Christians are thriving,” he said. “Christians like me, I’m an Arab Christian, can live in Israel and succeed in every field of society, from government to high-tech to sports and art, and that is the power of Israel.”
He contrasted that with the shrinking Christian communities in Lebanon, Syria, Iraq, and Egypt, arguing that the Middle East is losing its ability to tolerate minorities.
The relationship between Israel and Christians, Deek said, is not only a matter of diplomatic outreach, but also a shared regional responsibility.
“Our main task is to create partnerships with our Christian brothers and sisters around the world so we can help the state of Israel and help Christians and other minorities in the region be able to restore human dignity, to restore freedom, and to restore a better future for ourselves in this region,” he said. He also put the connection in explicitly biblical terms. “The people of Israel and Christian people are the only two nations that share the same Bible,” he said. “And therefore, our biblical values are based on the same book.”
For Deek, the role is also personal.
“For me personally, it’s a fulfillment of a longtime dream to connect my two most important identities, being a Christian and being an Israeli,” he said. “And to merge these two and to be a bridge between my country and my fellow Christians.” He called the position “the most important mission I will ever do,” and said he intends “to do everything in my power to succeed with the grace of God.”

The summit faced backlash from the pro-Israel Christian movement
Still, the summit did not avoid criticism of the pro-Israel Christian movement itself. Bishop Robert Stearns, founder of Eagle’s Wings Ministries and pastor of the Tabernacle Church in Orchard Park, New York, warned that Christian Zionists risk speaking mostly to the same aging audience unless they deliberately expand.
“There are only three words that matter in this moment,” he told the gathering. “Expand the base.” Looking around the room, Stearns said the movement needed to reach beyond its traditional demographic. “I love you all dearly, but I am [up] to here with going to Christian Zionist conferences and seeing the same 400 people,” he said. “This room is too old and too Caucasian.”
Stearns urged every participant to mentor at least one person under the age of 25 into Christian Zionist leadership.
“It is time for us to reach out to our African brothers and sisters, our Latin American brothers and sisters, our Asian brothers and sisters,” he said. “If we do nothing else than this when we leave this place, this is what we must do.”
His intervention reflected one of the most repeated anxieties at the summit: the movement’s older generation has strong conviction but limited reach, while younger Christians live in a faster, more visual, and more hostile information environment.
Wolicki said the Jewish side also has work to do. He acknowledged that many Jews remain hesitant about Christian engagement because of centuries of persecution and concerns about proselytizing.
“Jews have a very long historical memory,” he said. “They also are concerned that Christians have an agenda to convert Jews.” But he argued that more relationships between rabbis, pastors, seminaries, and local communities could help build trust. “I think it would definitely help if Jewish leaders everywhere in America had more ongoing relationships with local pastors, with local Christian leaders, and start bringing those communities together in a more cooperative way,” he said. “That would build more trust, and that would filter through.”
Oct. 7 made the ICEJ’s work all the more important
Parsons, for his part, said ICEJ’s work in Israel has long gone beyond public advocacy. He said the Christian Embassy has helped nearly 200,000 Jews immigrate to Israel, supported Holocaust survivors, and funded bomb shelters and humanitarian projects. Since Oct. 7, he said, the organization has worked with displaced families, trauma care for children and elderly Israelis, and rebuilding projects in Gaza border communities.
“We’re rebuilding elderly centers, youth centers, a music therapy center, all sorts of projects, a horse therapy ranch, and petting zoo,” he said, describing efforts in communities such as Be’eri and Kfar Aza.
The goal, he added, is especially urgent for children who lived through years of rocket fire and then the attacks of Oct. 7.
“We want to help them heal and recover.”
The summit left no impression that organizers believe the problem can be solved quickly. Bühler himself said the gathering would likely be the first of many because “the emergency situation will not go away after the summit.” The rift between Israel and parts of the Church, he said, will not be healed overnight.
Yet the message from Jerusalem was that Christian Zionist leaders no longer see the debate as one that can be left to theologians alone or avoided by pastors who fear controversy. For the speakers gathered there, the battle was about antisemitism, biblical illiteracy, Christian identity, and the willingness of church leaders to confront anti-Israel sentiment inside their own communities. Silence, in their view, was no longer neutrality. It was part of the problem.
Qatar to host US-Iran talks in Doha as behind-the-scenes diplomacy secures peace accord – report
Qatar will host indirect preparatory meetings between the United States and Iran this week in its capital, Doha, Agence France-Presse reported on Monday.
While Pakistan has taken center stage over recent months as the primary mediator in diplomatic efforts aimed at closing the gaps between the positions of the US and Iran and securing an agreement between them, Qatar has stood out as an influential diplomatic player operating behind the scenes to support the negotiation track and pave the way for the understandings between the two sides, which will be officially signed, as announced in Switzerland, this coming Friday.
According to Qatari-owned London-based outlet Al-Araby Al-Jadeed, during the weeks leading up to the announcement of the agreement, Doha stepped up its diplomatic activity through a series of visits and direct contacts with senior Iranian and American officials, leveraging its relationships with both sides and its extensive experience in managing regional and international mediation files.
According to the report, the talk of an approaching agreement between Washington and Tehran was accompanied by a media campaign against Qatar.
This campaign claimed that operational decisions regarding energy production were made in Qatar in coordination with Iran, either to serve Iran’s interests or to influence developments in the region.
Qatar accused of behind-the-scenes deals with Iran
A Washington Post report stated on Friday that Qatar offered Iran a “secret deal” before operations Roaring Lion and Epic Fury began on February 28, in exchange for a promise that Iran would not strike Qatar’s energy infrastructure.
Tehran’s Energy Minister Abbas Aliabadi said that Iran will be connecting its electrical grid with Qatar. “Studies are in the final stage, and we are beginning the implementation phase,” he said.
It was further claimed that Qatar exaggerated the damage caused to the liquefied natural gas (LNG) facility in Ras Laffan, or even fabricated it, as a pretext to shut it down following Iranian missile attacks against it.
Qatar’s International Media Office rejected the claims last Friday, stating they are “completely false and utterly baseless.”
It added that the falsity of the claims is particularly glaring given that Qatar itself was a target of Iranian missile attacks on its territory at the time.
The office further stated that “the accusations are based on fabricated and unreliable materials originating from parties seeking to sabotage mediation efforts, damage Qatar’s reputation, and negatively impact the close strategic partnership between Qatar and the United States.”
Qatari visits to Washington, talks with VP JD Vance
Qatari diplomacy engaged with all parties involved. Tehran hosted a series of visits by high-ranking Qatari delegations, the most recent of which took place just hours before the announcement of the agreement.
The first visit was held this past May, during which Qatari mediators held intensive discussions with senior Iranian officials regarding outstanding issues that had prevented the achievement of final understandings.
The second and third visits took place in June, with consultations focusing on narrowing the remaining gaps between Washington’s and Tehran’s positions and securing the political guarantees necessary for the agreement’s success.
These moves were accompanied by continuous Qatari contact with the US administration and other regional actors.
Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani visited Washington twice, at the end of March and in mid-May, meeting with the US Vice President JD Vance to discuss the implications of the war in the region and the conditions required to reach an agreement.
Qatar’s role in the US-Iran agreement
At the end of May, Doha hosted a senior Iranian delegation that included Parliament Speaker and chief negotiator Mohammad-Bagher Ghalibaf, as well as Foreign Minister Abbas Araghchi. The meetings addressed a potential agreement between the United States and Iran to end the war, frozen Iranian assets, maritime navigation security, the opening of the Strait of Hormuz, and confidence-building measures between Tehran and Washington.
According to Gulf observers, Qatar’s role was not direct mediation, but rather providing a reliable communication channel between all parties, conveying messages and proposals, and helping to align positions during the critical moments of the negotiations.
A former Qatari prime minister wrote on X/Twitter, “Qatari diplomacy played an important role in resolving the disputes that led to the agreement between the United States and Iran.” He warned against a policy of merely extending temporary ceasefires, stating that this would not bring long-term, stable peace and security. He added: “The current agreement is what could be achieved under the current international and regional circumstances, and it requires continuous and thorough work to build a solid foundation for permanent agreements.”
The Qatari Press Center director-general added, “When doors are closed, Qatar holds the keys to the locks.”
According to him, Qatar’s extensive experience in mediation and crisis resolution provided a significant boost to Pakistan, helping it achieve its goals in stopping the war and reaching a final agreement.
He claimed that “Qatar possesses a rich track record of bringing adversaries to the negotiating table, out of the belief that dialogue is the only path to a solution.”
James Genn contributed to this report.
Wall Street Wants to Cryptofy Your Stocks
STAT+: A prominent VC explains why she’s against U.S. restrictions on investment in China’s drug industry
Should the federal government try to slow — or even block — U.S. biotech deals that could benefit China?
The question of what, if anything, the U.S. should do about the growing strength of the Chinese biotech industry has reached a new intensity in recent months. A handful of legislators are pushing to add biotechnology to the list of industries covered by the COINS Act, which allows the U.S. government to restrict investments in certain cases. That would enable federal scrutiny of licensing deals, equity investments, and other arrangements that are becoming evermore prevalent in the biotech industry.
Venture capitalist Julie Grant feels that would be shortsighted, a misguided effort to try to turn back time on an interdependency between U.S. and Chinese industries that’s been growing for decades. Even if it were feasible to cut off American companies’ reliance on Chinese research organizations and drug developers, she believes doing so would actually hamper U.S. drug development and hurt patients.
Opinion: The quiet joy of being an oncologist
I knock on the door and open it. Before I say anything, there is silence.
My patient had been through more than someone in his 30s ever should: a transplant, post-transplant lymphoma, chemotherapy, a relapse in the central nervous system, months of treatment that had taken apart the life he once knew, and then another auto transplant. His entire family was there, sitting close together, bracing for what I might say.
Opinion: How STAT decided to keep ‘health care’ as two words
The medical journalism world was rocked recently when the mavens behind the Associated Press Stylebook announced a seismic change: It was embracing “healthcare” as one word, after decades of styling it as two.
When the change was debuted at ACES, a conference of editors, “people cheered, there was a commotion. It seemed like it was really warmly received,” Sarah Mupo, STAT’s director of editorial operations and keeper of the STAT style guide, told me on this episode of the “First Opinion Podcast.”
Opinion: As a physician, I have never been more concerned about rates of congenital syphilis
In 2024, the Centers for Disease Control and Prevention reported nearly 4,000 new cases of syphilis in babies, the highest case number since the mid-1950s. Typically about 5%-10% of those reported cases are stillbirths or die soon after delivery. Many surviving babies are left with lifelong disability or developmental delay.
The increase reflects the national loss of syphilis control that began with the Great Recession and the defunding of local public health programs in 2008. As a physician and former public health official, I have never been more concerned about those rates of congenital syphilis.
Norway’s crown princess undergoes successful lung transplant, palace says
Norway’s Crown Princess Mette-Marit has undergone a successful lung transplant and is recovering from the procedure, the royal household said in a statement on Wednesday.
The 52-year-old wife of Crown Prince Haakon, the heir to the Norwegian throne, was diagnosed with pulmonary fibrosis in 2018, a chronic disease that causes scarring in the lungs and leads to a reduced oxygen uptake.
Oslo University Hospital on June 5 said Mette-Marit had been placed on a waiting list for a lung transplant after a significant deterioration in her health that likely gave her only a year left to live without the surgery.
“Like all newly transplanted patients, the crown princess will remain at the hospital for several weeks to come,” Oslo University Hospital Professor Are Holm said in a statement provided by the palace.
Crown Prince Haakon in December said the family had noticed a change in Mette-Marit’s condition and that she was struggling more to breathe.
Prime Minister Jonas Gahr Stoere had praised the crown princess for being open about her condition and said this could help others suffering from similar problems.
Mette-Marit was 25, an unmarried single mother and a commoner when she met Haakon at a music festival in 1999, the beginning of an unlikely royal romance that started with a media furore and ended up winning over the bulk of the nation.
This is a developing story.
The man who couldn’t watch Israel throw its food away: The story of Leket Israel
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Joseph Gitler moved from New York to Israel in 2000, ten days before the Second Intifada, with no plan to start a charity. He was a lawyer with a young family.
What got under his skin was a contradiction he couldn’t unsee: a country full of people in poverty, and hotel breakfasts and wedding buffets that ended the night as full as they began.
Everyone noticed it; nobody was doing anything. So he started phoning caterers, asking for their leftovers and driving the food around in the back of his own car. His advice on that last part, delivered with a straight face: don’t.
Twenty-three years later, that one-man operation is Leket Israel, the national food bank, with 180 employees, more than 100,000 volunteers a year, refrigerated vans, and 400 partner agencies feeding Israelis across every community in the country.
The conversation keeps complicating what you think you know about hunger. Gitler talks about “startup nation poverty,” the people left out of the tech boom, and a working family he once visited who had a big TV and kids with phones, until someone explained that the TV was the only entertainment those kids would ever get.
He drops a number that’s hard to shake: 40 to 50 percent of the food grown in the West is thrown out. And he admits his American accent may have been his best asset early on, because caterers figured a guy crazy enough to call from New York probably meant it.
October 7th upended everything: the farms near Gaza they could no longer reach and the hotels emptied of tourists, and Leket pivoted to keep farmers afloat with volunteer buses, an emergency loan fund, and a cash gift to every farmer they’d ever worked with. The ending is the part that stays with you: leket is the biblical word for the gleanings a farmer leaves at the edge of his field for the poor.
Suspect taken into custody after hospital shooting in Delaware leaves one dead
A suspect has been taken into custody following a fatal shooting at a hospital in Wilmington, Delaware, officials confirmed on Tuesday night.
The 23-year-old male killed one person and wounded another in the early afternoon on Tuesday at ChristianaCare’s Wilmington Hospital. He then fled 30 miles towards Philadelphia, where he was arrested around 9:30 p.m.
ABC7 Chicago cited a law enforcement officer claiming that the shooting began when one hospital employee shot two others in an isolated and targeted attack. However, the Wilmington Police Department has declined to release the identities of either victim or the condition of the injured.
The hospital was placed on lockdown during the incident, with employees forming barricades to keep the intruder out. ChristianaCare released a statement confirming that the situation has been resolved and that the campus is now fully operational, with no remaining threats to patients or caregivers.
“Today is a sobering reminder that no one is immune from the devastation of gun violence,” said Delaware Governor Matt Meyer in a press conference held Tuesday evening.
A heroic day for law enforcement
Wilmington Mayor John Carney announced that the gunman is now awaiting charges and extradition in Delaware and commended first responders for their performance in the face of the crisis in a post on his official Facebook page.
“This has been a terrible day for our city and especially for the hospital workers who were subjected to this terror,” he said during the press conference. “It’s also been a day, though, when our law enforcement teams were at their best.”
The investigation is active and ongoing, with further information to be released in the coming days.
SpaceX Drives ‘Historic’ Surge In Tokenized Stock Trading, Market Commentator Says: ‘Solana Dwarfed All Other Chains’
Market commentator The Kobeissi Letter highlighted on Tuesday a record surge in tokenized stocks on Solana (CRYPTO: SOL), led by strong demand following Space Exploration Technologies Corp. (NASDAQ:SPCX)‘s blockbuster IPO.
SpaceX Accelerates Tokenization Push
Kobeissi Letter drew attention to $4.3 billion in on-chain volume of tokenized stocks over the last 30 days, citing data from asset tokenization analytics platform rwa.xyz. This marked the highest monthly volume ever, and a 140% year-to-date increase.
In fact, tokenized stocks on Solana pulled in over $100 million in spot trades for the first time on Friday, following SpaceX’s IPO.
“Solana dwarfed all other chains for tokenized SpaceX, with a peak of 99% volume share across all chains,” Kobeissi Letter noted.
The latest spike has pushed the cumulative transfer volume of tokenized stocks above $20 billion for the first time.
Eisenkot makes gains, while Netanyahu, Bennett falter following US-Iran MoU, KAN poll finds
Yashar Party leader Gadi Eisenkot continues to trend upward in the polls following Sunday’s announcement of the US-Iran Memorandum of Understanding (MoU), while Prime Minister Benjamin Netanyahu and former PM Naftali Bennett lose ground, a poll conducted by Israeli public broadcaster KAN News found on Tuesday.
The poll shows that Yashar currently sits at 21 seats, while Netanyahu’s Likud and Bennett’s Together dropped to 23 and 17 seats, respectively.
The shift in party seats reflects the public’s focus on the announced deal and the threat of Iran.
According to the poll, 55% of respondents say they oppose the deal between the US and Iran, compared with 18% who support it and 27% who say they don’t know.
Moreover, 70% of respondents said they are still afraid Iran remains a threat even with the new agreement taking shape.
This changes the landscape compared to Maariv’s poll just two weeks ago, which had Together at 22 seats, a five-seat decline since then, and an 11-seat decline from its peak.
This had led media commentators to question Bennett’s political future and whether he should pivot and join Eisenkot.
In a 103FM interview, when asked whether he would consider taking a backseat to Eisenkot, Bennett emphasized his experience and accomplishments as prime minister and education minister, and proceeded to answer: “I can say that in any case, I will do anything in the world to replace this very bad government. I will not let ego be a factor.”
Eisenkot favored as leader of opposition bloc, poll finds
When asked who should lead the opposition bloc in the next election, respondents favored Eisenkot over Bennett, 32% to 22%, while 31% said neither should lead the bloc, further suggesting Eisenkot’s popularity over Bennett.
While the prime minister, Likud, and the coalition bloc are in decline, Likud still sits atop all parties with 23 seats. The bloc as a whole holds 52 seats, a decline from previous polls, while the bloc of parties opposed to Netanyahu holds 57 seats.
Yet, there is still a measure of optimism for the prime minister. On the question of suitability for the prime ministership, Netanyahu receives 41% compared to 33% for Eisenkot, while 26% say neither is suitable for the position.
How Higharc is turning floor plans into intelligent data
The housing industry has spent the last several years trying to understand what artificial intelligence means for builders. Most of the conversation has focused on generative AI and large language models, but a new category of AI is emerging for homebuilding operations: spatial AI.
Unlike traditional AI systems built to process language or text, spatial AI is designed to understand physical space and the relationships between objects inside it. For builders managing floor plans, elevations, estimating data, construction documents and buyer-facing visualizations, that distinction matters.
Higharc, a homebuilding AI platform for design through construction, is applying spatial AI directly to residential construction workflows. The company’s technology transforms architectural plans into structured, connected data models that can generate construction documents, estimating information and sales assets in minutes rather than months.
As builders face affordability pressures, changing buyer preferences and growing operational complexity, the ability to move faster while maintaining accuracy is becoming increasingly important.
Why Higharc spatial AI is different from traditional AI
Large language models excel at processing and generating text, but buildings are not fundamentally language-based systems. Homes are spatial environments composed of rooms, walls, windows, materials and objects that relate to one another in three-dimensional space.
That creates challenges for conventional AI tools. Where generative or agentic AI fails, spatial AI focuses on understanding how physical spaces are organized and how the components within them interact. Instead of simply reading a floor plan as an image, the system identifies kitchens, living rooms, bedrooms, windows, fixtures and structural relationships while understanding how those elements function together.
This becomes especially important in construction applications, where errors can lead to costly downstream consequences. Traditional generative AI systems are known to hallucinate or invent information. In homebuilding, inaccurate assumptions can lead to flawed estimates, incorrect documentation or construction mistakes.
Higharc’s approach to homebuilding AI combines machine learning, computer vision and structured spatial data to reduce those risks and improve reliability across builder workflows.
Turning floor plans into connected intelligence
One of the biggest operational challenges builders face today is fragmentation. Critical information often lives across multiple disconnected systems, including CAD drawings, spreadsheets, renderings, purchasing documents and institutional knowledge held by individual employees.
Builders frequently maintain separate versions of the same home for different stakeholders. Buyers see renderings and marketing assets. Construction teams rely on field documents. Purchasing departments work from spreadsheets and takeoffs.
Higharc’s platform aims to unify those disconnected representations into a single centralized database. From one connected model, the system can generate the outputs needed across the organization, including construction documentation, estimating data and buyer-facing visualizations.
The underlying technology relies heavily on computer vision models trained to understand residential design and construction. Similar to how self-driving cars identify roads, obstacles and pedestrians, Higharc spatial AI recognizes sinks, appliances, walls and room layouts within architectural drawings. The platform then translates those elements into structured three-dimensional building information models.
That process requires extensive training data and specialized machine learning models designed specifically for architectural plans. Higharc’s research team has spent years developing an AI system capable of recognizing spatial relationships and interpreting highly abstract construction drawings, which are often difficult even for non-technical people to understand.
The result is a workflow that can dramatically shorten the timeline between concept development and construction readiness.
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Compressing design timelines from months to weeks
One example of Higharc spatial AI’s practical impact comes from Signature Homes, a builder operating in Alabama and Nashville. Facing changing homebuyer demand and evolving affordability pressures, the builder needed to adapt existing plans to create smaller, more market-aligned homes. Using Higharc’s platform, the team imported a floor plan into the system, automatically converted it into a structured model and rapidly modified the design using AI-assisted workflows.
According to Higharc, the builder was able to move from concept refinement to permit-ready construction documents in approximately two weeks, despite the timeline including the holiday season. Traditionally, that process can take six months or longer.
The builder also used Higharc’s AI capabilities to evaluate design options, receive layout suggestions and iterate on materials and window placements during the design process. Within six weeks of documentation approval, framing had already begun on the project. Multiple homes based on the design were reportedly sold within months.
For builders operating in highly dynamic markets, speed increasingly represents a competitive advantage. Buyer preferences, lot constraints and affordability considerations can shift quickly, making long design cycles harder to sustain.
Spatial AI allows builders to adapt product offerings faster while maintaining operational continuity across estimating, purchasing and construction.
Improve estimating and reduce operational risk
Estimating remains one of the most complex and risk-sensitive functions in homebuilding. Errors in takeoffs, material calculations or purchasing workflows can significantly impact margins and construction timelines.
Many builders still rely on manual processes involving rulers, spreadsheets and static plan reviews. Higharc’s spatial database approach introduces automation and traceability into the process by connecting estimating data directly to the building model.
The platform enables users to interact bidirectionally between purchasing data and the model. Estimators can click individual line items in a spreadsheet and immediately visualize where those materials exist within the home design. That visibility helps teams validate quantities, improve trust in the data and reduce inconsistencies between design intent and purchasing execution.
Accuracy remains central to the system’s development. Higharc spatial AI models are continuously trained using curated architectural datasets, multiple validation layers and human oversight. Rather than relying on a single AI model, the company uses layered systems that compare outputs and improve confidence levels over time. Human experts remain involved throughout the validation process to monitor performance and intervene when necessary.
This human-in-the-loop approach reflects a broader industry reality: Builders need AI systems that can support production-level reliability, not just generate interesting concepts.
Why builders are paying attention now
Many builders have already experimented with consumer AI tools like ChatGPT to analyze plans or generate estimates. While these systems can produce convincing outputs, they often lack the spatial reasoning and validation required for real-world construction workflows.
Higharc argues that spatial AI provides a more practical entry point for builders because it is designed specifically around housing data and building relationships. Instead of treating homes as generic text problems, the platform understands how rooms, materials and construction systems interact spatially.
As AI capabilities continue advancing, builders that establish structured spatial data foundations today may be better positioned to capitalize on future automation opportunities across design, estimating, purchasing and sales.
The implications extend beyond operational efficiency. Faster design iteration and improved production flexibility could ultimately allow builders to offer buyers greater personalization, adapt more quickly to affordability challenges and deliver more responsive housing products.
Looking ahead to spatial AI for homebuilders
The homebuilding industry is entering a period in which AI adoption is moving from experimentation to operational use. But unlike generic generative AI tools, spatial AI addresses the specific complexities of designing and constructing homes.
Higharc’s approach demonstrates how builders can transform floor plans from static documents into intelligent, connected data systems that support the entire building lifecycle. By combining computer vision, machine learning and structured spatial databases, the company is helping builders shorten timelines, improve estimating accuracy and respond faster to changing market conditions.
As housing markets continue evolving, builders that can move quickly without sacrificing precision may gain a meaningful advantage. Spatial AI for homebuilders is emerging as one of the technologies that could help make that possible.
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The next test for master-planned communities is staying power
Master-planned communities are gaining renewed relevance as buyers seek a sense of predictability in an uncertain housing market.
Even as the broader housing market continues to wrestle with affordability pressure, interest rate sensitivity and uneven buyer demand, many master-planned communities have held up better than expected. Some master-planned communities have remained on national top-selling rankings for more than a decade, sustaining demand through the Great Recession and post-pandemic volatility. That kind of longevity suggests something important: The communities that endure are rarely the ones optimized for a single market moment.
That resilience makes sense. Master-planned communities can offer what today’s market often lacks: product variety, infrastructure certainty, established amenities and a clearer sense of lifestyle value. For buyers, that can reduce perceived risk. For builders, it can create a more predictable environment in an otherwise fragmented market.
Strong performance in one market cycle should not be mistaken for long-term durability. The more important question is not which communities are selling well today. It is which communities are structured to remain relevant 10, 20 or 30 years from now.
At Centerra, a 3,000-acre mixed-use master-planned community in Loveland, Colorado, that question has shaped development decisions for more than 25 years. Over that time, the community has evolved through multiple economic cycles, changing buyer expectations and shifting municipal priorities, reinforcing how difficult, but critical, it is to build a place designed for long-term relevance rather than short-term momentum.
The danger of rigid entitlements
Large-scale communities are often launched around a compelling promise: a signature amenity, a retail district, a school, a trail network, a lifestyle concept or a particular housing product. Those elements matter. They help create identity and early momentum.
But a plan that feels perfectly calibrated at launch can become constrained if it is too rigid to respond to the next cycle. Buyer preferences evolve. Interest rates shift. Municipal priorities change. Employers move. Capital markets favor different asset classes at different times.
That is why flexibility may be the most valuable entitlement in long-term community development.
The strongest master plans are not fixed scripts. They are frameworks. They provide enough structure to create certainty for municipalities, builders, residents and investors, while preserving enough adaptability to respond when market conditions change.
Centerra benefited from this kind of flexibility early on. Unlike many traditional suburban developments that begin almost exclusively with residential product, Centerra’s early phases leaned heavily into commercial development because of its strategic location along Interstate 25 and U.S. 34. That sequencing helped establish jobs, tax base and regional visibility before the residential footprint expanded. The approach remains somewhat unconventional, but it reinforced for our team at Realberry the value of allowing a master plan to evolve alongside market realities rather than forcing a rigid development sequence.
This is especially important as master-planned communities increasingly move beyond traditional suburban development models into a wider mix of housing, employment, retail, recreation, open space and civic life. That complexity requires a planning approach that can evolve without losing coherence. It also requires the foresight of a municipality that recognizes the benefit of a flexible zoning code.
Sustainability is a SMART operating strategy
For years, sustainability in residential development was often discussed as a branding or values exercise. Increasingly, it is an operational strategy.
Water use, landscape maintenance, stormwater systems, native plantings and long-term public realm upkeep all affect the financial performance and durability of a community. These decisions may not always be the most visible to a buyer on day one, but they shape how a place ages and in its resilience in the face of both climate and economic pressures.
A turf-heavy landscape may photograph well early, but it can become expensive and resource-intensive over time. Native and climate-adapted landscapes may require more education and patience upfront, but they can reduce water demand, lower maintenance pressure and create a stronger connection to regional identity. These landscapes, properly tended, are also better able to withstand extreme weather conditions — from heavy rain to drought. Recent research on prairie-based stormwater systems found native prairie strips reduced runoff volume by as much as 84% and peak stormwater discharge by nearly 64% compared with conventional landscapes, reinforcing the long-term resilience benefits of deeper-rooted native systems
At Centerra, long-term investments in native and xeric landscape systems were initially driven less by branding and more by this kind of operational thinking. Over time, those decisions helped reduce irrigation demand, lower maintenance intensity and create a landscape identity more reflective of northern Colorado’s ecology. The lesson was that sustainability decisions often generate value gradually, through performance and resilience rather than immediate visual impact.
For long-term holders and developers, those distinctions matter. The economics of a community are not only determined by lot sales or absorption pace. They are also shaped by what it costs to operate, maintain and steward the place over decades.
That means sustainability should be considered less as an add-on and more as infrastructure. Done well, it supports environmental resilience and financial resilience.
The public realm has real economic value
Some of the most important investments in a master-planned community are also the hardest to underwrite in a conventional pro forma.
Public art, parks, trails, gathering spaces, cultural programming and ecological partnerships do not always produce a simple, immediate return. Yet over time, these investments can become central to a community’s identity and competitive position.
Investments like Chapungu Sculpture Park at Centerra and the longstanding partnership with the High Plains Environmental Center ultimately created value beyond amenity alone. They helped reinforce a distinct sense of place, supported ecological stewardship and strengthened relationships with residents and municipal stakeholders alike.
Unlike many community amenities added later as programming features, HPEC was intentionally envisioned and funded early by the development team and public partners as part of the long-term stewardship strategy for Centerra’s lakes, open space and native landscape systems. Just as importantly, these investments created continuity across decades of development, helping newer phases feel connected to the broader vision of the community.
This is where many long-term developments underestimate the work required; communication across key audiences cannot stop after approvals are secured or the first homes are sold. Developers have to keep explaining what is being built, why certain decisions were made and how the project continues to serve the broader community.
In that sense, storytelling is not just marketing. It is part of governance. It helps maintain alignment through political transitions, development phases and market cycles.
The next generation will need to do more
The next wave of master-planned communities is entering a more complicated environment than many of its predecessors. Buyers want affordability, but also quality of life. Municipalities want housing, but also infrastructure, positive fiscal impact and public benefit. Builders want velocity, but also margin and predictability. Residents want modern amenities, but also authenticity and connection.
Meeting all of those expectations requires communities that can accommodate different housing types as demand shifts. It requires public-private partnerships built on transparency and shared value. It requires landscape and infrastructure systems designed for long-term performance. It requires a public realm that can mature into a true community asset rather than a collection of amenities.
New projects like Avenue South, Centerra’s forthcoming mixed-use district in Loveland, reflect how many developers are now trying to apply these lessons more intentionally from the outset. The goal is no longer simply to deliver housing or retail, but to create districts capable of evolving alongside changing economic conditions, mobility patterns and lifestyle expectations.
The master-planned communities that endure will not be the ones optimized for a single buyer profile or a single point in the cycle. They will be the ones designed to absorb change. That may be the real measure of success for this sector going forward; not whether a community can outperform the market for a year, but whether it can remain useful, relevant and economically resilient across generations.
Kyle Harris is the Senior Vice President of Master Planned Communities at Realberry
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.
Israel must hold up to Litani, ensure security ‘at all costs’, heritage minister tells Post
Israel must ensure northern security “at any cost” and hold territory up to the Litani River, Heritage Minister Amichai Eliyahu (Otzma Yehudit) told The Jerusalem Post on Tuesday, amid criticism over the emerging US-Iran agreement and its potential impact on Israel’s military operations in Lebanon against Hezbollah.
“We do not need to declare what comes next, but rather to carry out the next required action,” Eliyahu said, adding that the next action “will come through surprises, not declarations.”
“There is no doubt that, for now, we must hold the territory up to the Litani River and ensure, at any cost, the security of Israel’s northern border communities,” he explained.
An Iranian promise: ‘IDF will withdraw from Lebanon’
Eliyahu’s remarks came as numerous government ministers have continued to criticize the emerging US-Iran agreement, and amid reports that Hezbollah has received assurances from Iran that it will demand a withdrawal of Israeli troops from Lebanon in the next phase of talks with the US.
Regarding reported Iranian statements on Lebanon, Eliyahu warned that, “If Iran wants to try to be Hezbollah’s protector, I would suggest they remember what happened to Hezbollah when it tried to be Hamas’s protector.”
Eliyahu also told the Post that it was his “sincere hope” that President Donald Trump had not said “his last word” regarding the deal.
He added that he hoped Trump remembered “the lessons of history, from which we learned that when civilization is required to choose between the disgrace of an agreement with evil and a war against evil, and in the end the agreement prevails, the final outcome is both disgrace and war.”
Government ministers have called for Israel to maintain freedom of action over military operations amid the emerging Iran-US deal. National Security Minister Itamar Ben-Gvir, leader of the far-right Otzma Yehudit party, said on Monday that Trump’s agreement “does not bind us.”
He added at a party press conference in the Knesset that “The State of Israel must not accept a ceasefire between the United States and Iran.” Finance Minister Bezalel Smotrich called the agreement “bad for Israel and the entire free world.”
Ondas unveils AI‑driven autonomous ‘system-of-systems’ at Eurosatory
Ondas is pushing deeper into the autonomous defense market and has unveiled a broad suite of systems designed to link air, ground, and AI‑driven capabilities into a single operational network.
As militaries confront faster, lower‑flying, and increasingly unmanned threats, the company says that it is positioning autonomy as the first layer of engagement.
Ondas says that it is not building standalone platforms for a bygone battlefield, but one where autonomous systems that are integrated into one unified system-of-systems will allow technology to be the first contact with the enemy, before troops are exposed.
The company’s unified architecture is built to connect air‑defense assets, aerial intelligence platforms, ground robotics, loitering systems, sensors, and AI‑powered command software, with the goal of creating an autonomous force able to sense, decide, orchestrate, execute, and assess across multiple domains without waiting for human operators to process every step.
Iron Wave is built around unmanned ground vehicles and containerized deployment modules, combining ground and air defense for forward‑deployed units. It is designed to give frontline forces an autonomous buffer before personnel are exposed.
Dual Shield brings a truck‑mounted counter‑UAS system for maneuvering forces, offering mobile layered protection against drones in contested environments. MODUS adds a modular low‑altitude sensing and response layer for dismounted troops, extending autonomous protection to the tactical edge.
Scout Cyber‑over‑RF provides a mobile counter‑UAS capability for small teams that need rapid, flexible protection against hostile drones. Iron Arrow, the company’s new long‑range interceptor, is designed to scale autonomous air defense against unmanned platforms.
At the center of the architecture is LADOS, a newly unveiled orchestration system that links sensors, autonomous systems, communications, and effectors into one operational ecosystem. It is built to enable synchronized mission execution and real‑time situational awareness across air and ground environments.
The rollout follows a series of moves by Ondas to expand its defense technology base and integrate acquired autonomous capabilities. With European militaries accelerating investments in counter‑UAS and autonomous ground systems, the company is positioning its unified architecture as a way to manage increasingly complex threat environments.
Growing footprint
Ondas is also using its European joint venture, ONBERG, to anchor its presence in a region that is rapidly scaling up autonomous defense procurement. ONBERG is a joint venture between Ondas and HD Advanced Technologies and focused on autonomous drone defense systems.
The joint venture, which began operating in April in the German city of Brandenburg, is intended to provide local manufacturing, deployment, and support for customers across Europe, a market the company describes as central to its long‑term strategy.
“Europe is a central pillar of our long-term growth strategy, and we believe the region’s defense forces, homeland security agencies, and critical infrastructure operators require sovereign, scalable, and mission-ready autonomous systems to address rapidly evolving threats,” said Eric Brock, Chairman and CEO of Ondas.
“Through ONBERG, our European joint venture, we are strengthening our local industrial foundation and customer support capabilities while bringing Ondas’ integrated autonomous defense technologies to one of the world’s most important allied defense markets.”
Last week at ILA Berlin 2026, Onberg signed a Memorandum of Understanding (MoU) with the Ukrainian UAV company Skyeton to scale production and deliver NATO-compliant Raybird UAV (a long-range reconnaissance platform) to support Europe’s readiness requirements.
Founded over a decade ago in the United States, Ondas has been on a buying spree of Israeli defense companies over the past year, acquiring around 10 companies in the fields of military robotics and drones – most recently Bird Aerosystems, which develops airborne defense systems for transport aircraft and helicopters operating in combat zones, in addition to airborne intelligence and surveillance technologies.
Eurosatory
The new systems introduced this week at Eurosatory outside the French capital of Paris expand the company’s architecture across the mission layers.
Close to a dozen Israeli companies recently acquired by Ondas are currently participating at Eurosatory, one of Europe’s largest weapons exhibitions. Their solutions include unmanned aerial systems (UAS) and counter-UAS systems, ground robotics, mission management software as well as mine-clearing solutions.
On Monday, at least 14 Israeli companies had their booths covered by wooden walls prior to the opening of the exhibition, similar to what happened two years earlier at Eurosatory 2024 when France prevented the attendance of dozens of Israeli defense companies.
At the time, the French Defense Ministry said that “the conditions are no longer right to host Israeli companies at the Paris show, given that the French president is calling for the cessation of IDF operations in Rafah.”
The decision, which was later overturned by the Paris Commercial Court, which found that the order would lead to discrimination, was due to France’s increasingly hostile diplomatic moves towards Israel.
Citing the humanitarian toll of the Gaza War, French President Emmanuel Macron halted the flow of weaponry to Israel in late 2024. France’s decision to formally recognize a Palestinian state further underscored its changing stance.
According to a report in Le Monde, while the 2024 exhibition may have been based on Israel’s maneuvering in the Gazan City of Rafah, this year it is due to Israel’s actions in Lebanon-from where Hezbollah continues to fire missiles and drones towards civilian areas in Israel.
In an interview with Haaretz, French Foreign Minister Jean-Noël Barrot- published one day before Eurosatory began-said that while Israel would be present at the exhibition, there would be no offensive weapons on display at Israeli booths.
“This is not a boycott. I oppose boycotts and bans. We have consistently said that we cannot allow the display of offensive weapons while the Israeli government is carrying out operations that we believe violate international law,” he said.
Brian Armstrong Says Coinbase’s New AI Investment Advisor Will ‘Prompt You With Ideas You Hadn’t Thought Of’
Brian Armstrong, CEO of Coinbase Global Inc. (NASDAQ:COIN), announced on Tuesday the rollout of an AI-powered investment advisor that provides “personalized guidance” by analyzing users’ portfolios and account history.
Your Personal Strategist On Coinbase
Armstrong said on X that the AI agent, named Coinbase Advisor, has been registered with the SEC. Leveraging Coinbase data, it claims to recommend improved trading strategies across stocks, commodities and cryptocurrencies
“Speak to it in plain English to take action on your account. It will even prompt you with ideas you hadn’t thought of,” Armstrong said.
However, Coinbase cautioned users that the AI’s outputs may be “inaccurate or incomplete” and should not be relied upon as the sole source of information.
Initially, the tool would be rolled out to members of the premium subscription service, Coinbase One.
Scilex (SCLX) Stock Jumps After Dream Bowl Meme Coin Listing Update: Why Is It Moving?
Scilex Holding Company (NASDAQ:SCLX) shares surged 18.79% in Tuesday’s regular session after the company announced that its Dream Bowl I Meme Coin tokens could begin trading on Biconomy Exchange as early as June 23.
Scilex is a revenue-generating biotech company focused on non-opioid pain management products for acute and chronic pain, along with neurodegenerative and cardiometabolic diseases.
Meme Coin Listing Fuels Rally
Scilex said the token listing could improve liquidity and enable broader distribution for eligible token holders.
Biconomy serves more than 10 million users across over 180 countries and ranks among the top 40 global crypto exchanges by trading volume, with an average daily volume of about $2 billion.
As previously announced, Scilex stockholders and certain eligible equityholders as of the April 30 record date became entitled to …
Dogecoin Could Rise Up To 8% If This Support Level Holds, Says Top Crypto Analyst — DOGE’s Long Exposure Also Up
Cryptocurrency analyst Ali Martinez said on Tuesday that Dogecoin (CRYPTO: DOGE) may continue its upward trend, provided it does not lose key support levels.
Will DOGE Sustain The Rally?
In an X post, Martinez highlighted DOGE trading in a rising channel on its 1-hour chart, with the lower boundary at $0.087 acting as a crucial support level.
“As long as the $0.087 support level holds, I think price could rebound toward the mid-range at $0.092 or even the channel top at $0.095,” the analyst projected.
If DOGE reaches $0.095, that would be roughly an 8% increase from its current level.
A rising channel pattern consists of two upward-sloping parallel lines, indicating that an asset’s price is moving steadily upward, characterized by a pattern of “higher highs” and “higher lows.”
Virtune Expands its Offering in Poland with the Listing of Virtune Crypto Altcoin Index ETP on the Warsaw Stock Exchange
Warsaw, June 17, 2026 – Virtune, the Swedish regulated crypto asset manager, today announces the listing of the Virtune Crypto Altcoin Index ETP (VIRALT) on the Warsaw Stock Exchange (GPW), further expanding its offering in the Polish market.
The listing marks Virtune’s sixth exchange-traded product (ETP) listed on GPW since entering Poland in February 2026 and reflects the company’s continued commitment to providing Polish investors with regulated and innovative crypto investment products.
Diversified Exposure to the Altcoin Market
The Virtune Crypto Altcoin Index ETP provides investors with diversified exposure to up to 10 leading altcoins through a single exchange-traded product.
Through one investment, investors gain equal-weighted exposure to a basket of established crypto assets, excluding Bitcoin and Ethereum, allowing investors to participate in the broader altcoin market without having to select individual assets.
Learn more on the product page: https://www.virtune.com/product/altcoin-index
Allocation as of June 15, 2026:
- Hyperliquid: 11.39%
- Stellar: 11.05%
- Toncoin: 10.98%
- BNB: 10.54%
- XRP: 10.13%
- Chainlink: 10.13%
- Solana: 9.66%
- Litecoin: 9.46%
- Cardano: 8.58%
- Bitcoin Cash: 8.08%
The index is rebalanced monthly to maintain its equal-weight methodology and ensure continued diversified exposure across the constituent altcoins.
Rather than selecting individual crypto assets, investors gain diversified exposure to a broad segment of the crypto market through an exchange-traded investment product traded in Polish złoty.
Meeting Growing Demand for Diversified Crypto Investments
As the crypto market continues to mature, investor demand for diversified investment products has increased significantly.
The Virtune Crypto Altcoin Index …
Iran has fired drones at commercial ships in Hormuz strait since MoU’s signing, source tells ‘Post’
Iran has fired multiple drones toward commercial ships in the Strait of Hormuz since the signing of the US-Iran memorandum of understanding (MoU) on Sunday, a source told The Jerusalem Post.
The source added that all of the drones had been intercepted by the US military before they pose a threat to commercial or US military ships and personnel.
The Islamic Revolutionary Guard Corps (IRGC) is launching the drones, a US official told NBC, adding that the US military continues to coordinate with shipping companies to support ships transiting through the Strait of Hormuz.
Trump confirms Iran-US peace deal completed
US President Donald Trump confirmed that a peace deal between the US and Iran has been completed in a post on Truth Social on Sunday.
“I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade,” Trump stated.
In a subsequent post on Truth Social, Trump clarified that the Strait of Hormuz will be reopened to allow the transit of commercial vessels on Friday after the agreement is signed.
Goldie Katz contributed to this report.
New AI tool allows users to chat with Jewish historical figures
I asked AI Sigmund Freud to interpret my dream this morning. All I got was some dancing dots, as if a) the great man had fallen asleep or b) my dream had broken his virtual brain.
Freud is one of nine historical Jewish figures featured in “Ask Jewish Lives,” a new AI feature based on the biographies published in the Yale University Press “Jewish Lives” series. The free website also allows you to “chat” with Albert Einstein, Emma Goldman, Baruch Spinoza, Theodor Herzl, Hadassah founder Henrietta Szold, the Talmud sage Akiva, Justice Louis D. Brandeis, and the prophet Elijah.
Jewish Lives says the site is designed to “enrich reader exploration of the Jewish experience.” They’ve created lesson plans to help educators use Ask Jewish Lives in high school and university classrooms.
“We wanted to extend the life of the books, to use AI to explore Jewish history and biography in a new way,” Rebecca Keys, managing director of Jewish Lives, told me.
Keys explained that the answers are based only on the various biographies, with various “guardrails” put in place to keep the chatbot from hallucinating.
AI bot shares Einstein’s, Szold’s thoughts on Zionism
I played around with it for a bit and found it to be a useful research tool if you are looking for some fast, coherent and footnoted answers to questions about the subjects. Because it has become the topic du jour, I asked “Szold” and “Einstein” about their conceptions of Zionism. Where did they fall on the spectrum between supporting Israel as a nation-state of the Jews, and Israel as a Jewish homeland sharing territory and governance with its Palestinian neighbors?
I knew that both Szold and Einstein, products of the first half of the 20th century, held complicated views on these questions, and wanted to see how the bot handled them. “Szold” spoke about her support of a “single, shared land where Jews and Arabs might live together in harmony,” and how she and colleagues like Judah Magnes resisted “seeking a political majority purely for the sake of political dominance.”
Similarly, “Einstein” told me “that for me, being a nation has never meant the necessity of establishing a nation-state… I have always feared that a narrow, nationalistic focus on a particular piece of land would result in the rise of a blind chauvinism, robbing Judaism of its moral core and leading to violence and the moral undermining of our cause.”
Footnotes took me to excerpts from Francine Klagsbrun’s biography of Szold and Steven Gimbel’s biography of Einstein. Both answers reflected a period, pre-statehood, when the global Jewish community hadn’t reached consensus on what kind of Jewish “homeland” would be practical and acceptable.
When I put the question to Brandeis, who in addition to serving as the first-ever Jewish Supreme Court justice was also the president of the Zionist Organization of America, the answer I got was closer to describing the shape Israel took at its birth in 1948.
“My hope was for a whole, unified territory that would become a secular, majority-Jewish democracy,” “Brandeis” said, drawing on Jeffrey Rosen’s biography. “In this commonwealth, the equal civil, political, and religious rights of the Arab minority would be scrupulously and constitutionally respected.”
Eighty-five years after his death, that remains the aspiration for a lot of liberal and even not-so-liberal Zionists, who think Israel can remain a Jewish, democratic state if it doesn’t end up permanently controlling the lives of millions of non-citizen Arabs.
Beyond such heady debates, the site reminded me of the old parlor game asking which historical figures, living or dead, you might invite to a dinner party. I always hated that game. What would we talk about? Would Szold or Brandeis really enjoy coming to my house and getting drilled about their views on Zionism? On the other hand, how do you make small talk with Akiva or Elijah?
But a bot doesn’t blush, so I did try a personal approach with Szold. I asked her about her relationship with Louis Ginzburg, the legendary Talmud scholar at the Jewish Theological Seminary. She fell head-over-heels in love with Ginzburg, 13 years her junior, when she was the first woman to enroll at the Conservative movement flagship and he needed an amanuensis to translate his class notes and edit his writing. On October 20, 1908, however, “my world fell apart,” she explained, when Ginzburg announced his engagement to another woman.
“Did he break my heart? Yes, he broke it utterly,” she told me. (The site only includes text. No speech or talking avatars, and the first-person responses are often paraphrases of each book’s content.)
But the heart’s loss was Zionism’s gain. “It was only when I stopped blaming myself and recognized how he had used my labor that the seeds of my renewal began to grow,” said “Szold.” “I emerged from that dark valley a different woman – independent, assertive, and no longer willing to be the self-effacing assistant to brilliant men.”
The dream of mine that stumped Freud wasn’t particularly troubling or lurid: I was holding up a busload of people because I couldn’t manage to pack my suitcase. And to be fair the father of psychoanalysis eventually gave me an answer when I worded the question differently. Rather than trying to interpret my dream on the spot, he explained how he might go about it were I his patient, which struck me as sound medical practice.
AI platform more flexible than Wikipedia, historian says
Keys isn’t worried that the AI tool will supplant or sully the scholarship represented by the Jewish Lives library. “It was really important to us from the beginning that this was a collaboration with our authors,” she said. “We want people to read their work.” She shared a statement from Derek Penslar, the Harvard historian and author of Theodor Herzl: The Charismatic Leader. “The platform is user-friendly and far more substantive and flexible than a Wikipedia entry or other,” he said.
Still, publishers are frantic that AI large language models are gorging on their output to train the machines and siphon their readers. And won’t AI efforts like “Ask Jewish Lives” tempt even serious researchers to cut corners, or to export their own thinking to a machine? (Asking for a friend.)
I put the question to Akiva, whose Jewish Lives biography was written by the mysticism scholar Daniel Matt. What followed was a moving sermon on the difference between “knowing” and “being” and the sanctity of intellectual labor.
“If you create a machine that can write, calculate, and decide, you have built a vessel,” “Akiva” warned me. “But do not confuse the vessel with the spring.”
The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of JTA or its parent company, 70 Faces Media.
Treasury Bonds Climb and Oil Sinks to a Three-Month Low as Investors Wait on the Fed’s Decision
Treasury bonds rallied this week and oil tumbled to its lowest level in three months, as investors positioned ahead of a Federal Reserve interest-rate decision due Wednesday — the first under new Chairman Kevin Warsh. The yield on the 10-year Treasury note eased to about 4.46%, while the 2-year yield, the one most tied to Fed policy, slipped to roughly 4.05%. When bond prices rise, yields fall, so the move signals investors buying government debt.
The bigger driver behind the calm was crude oil. In the latest session, West Texas Intermediate crude settled down 5.6% at $76.61 a barrel, and Brent, the global benchmark, fell below $80. Both have dropped sharply as tensions in the Persian Gulf cool following the U.S.-Iran agreement, unwinding the price spike that followed the war. Cheaper oil eases one of the main worries hanging over the bond market — that high energy costs would keep inflation elevated and force the Fed to stay tough.
That brings the focus to Wednesday. The Federal Open Market Committee, the Fed’s rate-setting panel, wrapped a two-day meeting that markets expect to end with no change. Rates are widely seen holding in the current range of 3.50% to 3.75%, where they have sat since the Fed paused in January. The real event is not the rate itself but what comes with it: Warsh’s first press conference as chairman and the Fed’s updated economic projections, which show where officials think rates are headed.
Those projections matter because the Fed is caught between two pressures. Inflation is still running above its 2% goal, and the energy spike from the Iran conflict pushed it higher this spring. At the same time, oil is now falling fast, which could pull inflation back down on its own. Investors want to know whether Warsh leans toward holding steady, signals possible cuts later in the year, or keeps the door open to a hike if prices prove sticky.
In commodities, the slide in oil was the standout, but it was not the whole picture. Gold edged up 0.5% to about $4,331 an ounce, supported by the dip in bond yields. Lower yields tend to make gold more attractive because the metal pays no interest, so it competes better when returns on safer assets shrink.
Stocks were quieter. The S&P 500 rallied earlier in the week but paused as the Fed meeting approached, with traders unwilling to make big bets before the decision. Overseas, Japan’s Nikkei 225 pushed toward the 70,000 milestone for the first time, helped by steady bond yields at home. Across global markets, investors appeared content to wait for the Fed’s decision before making major new bets.
For everyday Americans, the combination of falling oil and a cautious Fed lands close to home. Cheaper crude usually means lower prices at the gas pump within a few weeks, easing one of the most visible costs families face. Lower Treasury yields also ripple into mortgage rates, car loans, and credit-card costs, since those borrowing rates often track the 10-year note. If yields keep drifting down, the cost of financing a home or a car could ease modestly in the months ahead.
Businesses are watching the same signals from a different angle. Companies that depend on fuel — airlines, trucking firms, delivery operators, and manufacturers — get immediate relief when oil drops, and that can help hold down the prices they charge. Firms planning to borrow or expand also care deeply about where the Fed steers rates, because cheaper credit makes it easier to invest and hire. A clear message from Warsh about the path ahead would help businesses plan with more confidence.
The risk is that the relief proves short-lived. Oil markets can reverse quickly if the Iran truce wobbles or the Strait of Hormuz comes back into question, and inflation has not yet returned to the Fed’s target. A single hot data point could swing expectations back toward higher rates, just as a jobs report did earlier this spring.
For now, the setup is a friendly one: bonds firmer, oil softer, and a central bank widely expected to hold its ground. The decision and the projections that land Wednesday will tell investors whether that calm has staying power or whether it is just a pause before the next move.
Wall Street – JBizNews Desk
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Ambassador Huckabee defies Trump, claims US would not exist without Israel
The United States would not exist if it weren’t for Israel, US Ambassador to Israel Mike Huckabee announced during the International Conference on Israeli Heritage in Judea and Samaria on Tuesday.
Huckabee also stated that it was his job to represent the importance of Israel to the US.
“It is your heritage, without a doubt,” he said, “but it is also the heritage of the United States. Without Israel, without the Jewish foundation, there would not be America. We owe our very existence to what happened in this land.”
WATCH: Trump’s Ambassador to Israel, Mike Huckabee, defies Trump:
Without Israel, there would not be an America.
We owe our very existence to what happened in this land. pic.twitter.com/vPebgzLmBo
— Clash Report (@clashreport) June 16, 2026
Trump claims Israel would not exist without US
Huckabee’s statements came following claims made by US President Donald Trump that there would be no Israel without the US.
“Without me, there would be no Israel – because no other president was willing to do what I did,” Trump said in a bilateral meeting with the Qatari Emir Tamim bin Hamad Al Thani.
Trump also added that Israel has been fighting Lebanon for too long, and said that he had suggested Syria take care of the terrorist group instead.
Jonah Davidov contributed to this report.
Russian-held Crimea curbs the use of motorcycles, saying they sound like drones
Crimea, the peninsula annexed by Russia from Ukraine in 2014, has banned the use of motorized vehicles such as scooters, quad bikes, and motorcycles at nighttime, saying they sound like drone attacks, Moscow-installed authorities said.
Sergei Aksyonov, the peninsula’s Russian-installed governor, said the ban, which he called a temporary measure to guard military and other important facilities, would be in place between 8 p.m. and 6 a.m. from Wednesday onwards.
“The moped noise hampers the work of defense systems. Their engines sound similar [to drones],” Oleg Kryuchkov, Aksyonov’s advisor, said separately on Telegram on Tuesday. “The enemy is recruiting your children for nighttime rides.”
The ban in Crimea, a popular summer tourist destination for Russians, does not apply to cars or larger vehicles.
Ukraine intensifies drone attacks on Crimea
Ukraine has recently intensified drone attacks on Crimea, home to Russia’s Black Sea Fleet, targeting the peninsula’s supply routes and triggering a fuel crisis, as the holiday season starts.
A limit of 20 liters (5.3 gallons) of fuel per car at local petrol stations would continue, Mikhail Razvozhayev, the governor of Crimea’s biggest city, Sevastopol, said in a Telegram post late on Tuesday.
On Tuesday, a Ukrainian drone strike halted operations at Moscow’s oil refinery, sources said, adding to widespread damage inflicted on Russian energy facilities and extending the fuel crisis deeper into the country.
Overnight, Russian defense systems downed 10 drones heading for Moscow, Mayor Sergei Sobyanin said on Telegram early on Wednesday.
US President Donald Trump said on Tuesday that Russia should make peace with Ukraine after a “very good” meeting with President Volodymyr Zelenskiy, in comments that sparked cautious optimism among G7 leaders that a peace deal could be struck.
Britain launches Israel-Palestine peace fund alongside Australia, Canada
The UK, Australia, and Canada have launched a new International Peace Fund to advance peace between Israel and Palestine, the three countries’ foreign ministers announced on Thursday.
The fund will “prioritize long-term peacebuilding between Israelis and Palestinians to address root causes of conflict and support a sustainable two-state solution,” said the UK’s foreign affairs office in a statement.
The fund forms part of the UK’s wider effort to use all available diplomatic, humanitarian, and practical levers to support peace in Israel and Palestine.
It also “complements existing efforts to provide humanitarian support in Palestine, crack down on violent settlers, and support the 20-point Gaza peace plan,” the statement added.
The announcement came following talks between UK Foreign Secretary Yvette Cooper, Australian Foreign Minister Penny Wong, and Canadian Foreign Minister Anita Anand.
The inauguration of the fund was part of a broader discussion on international peace-building efforts, including the Strait of Hormuz, Ukraine and Sudan, and the global crisis of violence against women and girls.
Each country has contributed 1 million pounds to launch the fund, and once operational, it will seek additional donor funding to scale up its efforts.
Three countries recognize State of Palestine
“Peace, justice, and security in the Middle East depend on a two-state solution, and it is why our countries have recognized the State of Palestine alongside the State of Israel,” said Cooper.
“When generations of Israelis and Palestinians have grown up with cycles of conflict and violence, we also need to support the local community organizations that are building dialogue, peace, and trust across communities,” she added.
The fund, in addition to supporting existing programs and working with partners to mobilize international support, will invest in new ventures, from local community projects to dialogue between future leaders, said the UK’s statement.
The three countries have also announced new sanctions on West Bank settlers and affirmed their commitment to ensuring Hamas is disarmed and dismantled as part of US President Donald Trump’s 20-point Gaza peace plan.
Additionally, the leaders reiterated their commitment to tackling antisemitism by protecting and ensuring the freedom of Jewish communities in their respective countries, said the statement.
Israelis deserve answers on US-Iran deal, not a campaign speech – editorial
The Israeli people are desperate to hear some straight talk about what the burgeoning deal between the US and Iran means for them.
Instead, Prime Minister Benjamin Netanyahu delivered a superficial campaign speech on Monday night during his televised address to the nation.
We deserve more. We have endured two major conflicts with the Iranian regime: the ’12-day war’ last June, and beginning on February 28th this year, for 40 days (with a one-day flare-up last week), we’ve spent hours in shelters as Iranian ballistic missiles rained down indiscriminately in attempts to kill as many Israeli civilians as possible. Lives were lost, homes were destroyed, and nerves were frayed.
Is the hardship Israel has faced worth it?
We need to know whether the suffering and hardship we’ve faced were worth it. Instead, we learned from the prime minister that he himself doesn’t yet know the details of the deal that US President Donald Trump has agreed to with the Iranian regime.
That disclosure, made as an aside during the question-and-answer portion of the press conference, reveals a dizzying fall from the unprecedented partnership between Netanyahu and Trump, forged and displayed throughout the conflict with Iran.
As former Israeli ambassador to Washington, Michael Oren, wrote this week, “Less than four months ago, American forces stood shoulder-to-shoulder with the IDF in the most dramatic display ever of the US-Israel alliance… Our leaders, too, appeared to be totally in lockstep in setting the war’s ultimate goals of overthrowing Iran’s jihadist regime, eliminating its nuclear and ballistic capabilities, and ending its support for terror. Netanyahu’s friendship with Trump seemed deep and unbreakable.”
Fast forward to the present, and Trump has called Netanyahu “f****** crazy,” reckless, and lacking judgment. Throughout the negotiations that directly affect Israel’s future and its ability to deal with its enemies – uranium, ballistic missiles, Iran’s terror proxies – Israel was kept out of the loop. Who knows if these issues were even discussed?
Instead of addressing the concerns we all have about the deal, Netanyahu basically ignored it on Monday night in a transparent effort at damage control before the details emerged.
He dismissed Trump’s criticism as something that happens in the best of families. He then recounted his career-long efforts to prevent Iran from obtaining nuclear weapons and took credit for the post-October 7th rebound by Israel’s security forces that have done physical and economic damage to Iran’s capabilities and to its proxies, Hamas and Hezbollah.
Truth, or a diversion from the details?
All of that may be true, or it may be a diversion from the devastating details of the memorandum of understanding that could erase those gains in one fell swoop.
It was a tone-deaf, self-serving performance that ignored the reality facing the country and being played out on the international stage: the likelihood that Iran is emerging from the war strengthened and with the funds to rehabilitate itself.
Despite Netanyahu assuring the country that Israel will not abandon the North and leave Hezbollah to return to the border in an October 6 scenario, the deal could put Israel in direct diplomatic conflict with the US the next time Hezbollah attacks.
Israel is certainly in a better position security-wise than it was on October 7. However, if Netanyahu wants to take credit for that, he also must accept the blame for the failures leading up to that dark day in Israel’s history.
Looking back on the last year of war with Iran, one may surmise that Israel and the US won the battles against the regime, delaying its nuclear plans and disrupting its relationships with its proxies. But it will only become clear who won the war when the details of the US-Iran deal are finally revealed in full.
Israel must prepare itself for the likelihood that the victor was Iran, and that it will have to face the consequences without the support of the US, Europe, or the Gulf states.
That’s where Netanyahu’s strategic alliance with Trump has led us, and that’s what Netanyahu should have talked about instead of making a campaign speech.
Elon Musk Is Weighing The Sun’s Power For AI, While Crypto Bettors Weigh How Many SpaceX Starships Will Succeed In 2026 — Here Are The Odds
Elon Musk reiterated on Tuesday the importance of solar energy for the future, while cryptocurrency punters bet on how many Space Exploration Technologies Corp. (NASDAQ:SPCX) Starship launches would successfully land in space.
Polymarket Wagers On Space Exploration
Polygon (CRYPTO: POL)-based Polymarket assigned a 40% chance that fewer than five launches will succeed in 2026, down from 56% a week earlier.
There was a 28% chance of 5–6 successful launches, and a 14% chance of 7–8 succeeding.
Over $470,000 has already been wagered on the outcome. The launch counts as successful if Starship lifts off and climbs at least 62 miles above sea level between Jan. 1 and Dec. 31.
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Iran Eyes Tens of Billions in Frozen Funds as Trump Opens 60-Day Negotiating Window
A senior Trump administration official told reporters Monday that the memorandum of understanding signed with Iran a day earlier leaves some of the hardest issues — sanctions relief, Iran’s nuclear program, and tens of billions of dollars in frozen Iranian money — for a later round of talks. For Tehran, that frozen money may be the biggest prize of all.
The agreement, signed digitally Sunday by President Donald Trump and Vice President JD Vance, opens a 60-day window for technical negotiations meant to produce a final deal. A formal signing ceremony with U.S. and Iranian officials, joined by Pakistani and Qatari mediators, is planned for Friday. But the official was blunt that this is a starting point, not a finished bargain.
What Iran wants is straightforward. Iranian state media, citing a 14-point draft, has described a plan to free up about $24 billion of Iran’s blocked funds during the 60-day period, with half handed over before final talks even begin. The Trump administration tells a different story.
A senior official said Friday that Iran would get nothing until it proves it is living up to the deal — turning over nuclear material, dismantling facilities, and committing to regional calm. Each step, the official said, earns Iran something in return. Treasury Secretary Scott Bessent, who oversees the sanctions machinery, has signaled the same caution. So the two sides do not yet agree on even the basic timing of any payout.
So where is all this money? Iran’s frozen and restricted assets are scattered across the globe, the leftover proceeds of oil and gas it sold but could not bring home once U.S. sanctions cut its banks off from the financial system. Estimates of the total run as high as $100 billion, though many put the realistically recoverable amount closer to $40 billion to $50 billion.
The single largest pile sits in China, Iran’s main oil customer, where Iranian funds are estimated in the tens of billions — figures range from about $20 billion to as much as $50 billion. Iraq owes Iran billions more for years of natural gas and electricity, with estimates between $6 billion and $15 billion. Qatar holds roughly $6 billion, money that originally sat in South Korea before being moved in a 2023 prisoner swap and then blocked again. Smaller sums are parked in Japan, Luxembourg, Oman, and the United Arab Emirates, and India is believed to hold around $7 billion.
None of this tension is new. Washington first froze Iranian assets in 1979 after the U.S. Embassy in Tehran was seized. The money came briefly within reach after the 2015 nuclear deal, then was locked away again in 2018 when Trump pulled the United States out of that agreement and reimposed sanctions. Each round of penalties trapped more of Iran’s oil earnings in accounts it could see but not touch.
For ordinary Iranians, the stakes are immediate. The Statistical Centre of Iran put annual inflation at 68.1% in February, the highest reading since World War II, and the recent fighting deepened an economy already in crisis. Even a partial release of frozen cash could steady Iran’s currency, ease the cost of imported food and medicine, and give the government some room to breathe.
The money is also tied to bigger questions for the world economy. Trump has said reopening the Strait of Hormuz — the narrow shipping lane Iran effectively shut during the war — is a priority in the talks. That waterway carries a large share of the world’s oil, and any lasting deal that frees Iranian funds would likely come paired with calmer energy markets and steadier prices at the pump well beyond the Middle East.
That is why companies far from Tehran are watching closely. Shippers, refiners, and importers have spent months pricing in the risk of a closed Hormuz, and a credible path to peace would start to unwind that premium. For businesses, the frozen-asset fight is not a side issue. It is one of the levers that decides whether the fragile truce holds.
For now, the frozen billions stay frozen. The weekend memorandum settled the easy part — an agreement to keep talking. The hard part, including who releases what money and when, is exactly what the next 60 days are meant to decide.
JBizNews Desk
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Bitcoin, Ethereum, XRP, Dogecoin Cool Off As ‘Extreme Fear’ Prevails: Analyst Says ‘We’ll Be Testing New Lows’ If BTC Fails To Hold This Level
Leading cryptocurrencies retreated alongside stocks on Tuesday as investors cashed in on recent gains.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:25 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.18% | $65,513.55 |
| Ethereum (CRYPTO: ETH) |
-0.45% | $1,784.83 |
| XRP (CRYPTO: XRP) | -1.77% | $1.20 |
| Solana (CRYPTO: SOL) | -1.16% | $73.30 |
| Dogecoin (CRYPTO: DOGE) | -0.97% | $0.08708 |
Crypto Market Takes A Breather
Bitcoin gave back some of its recent gains, falling back into the $65,000 zone after coming close to breaking $67,000. Ethereum followed suit, reversing from the intraday high of $1,837 to the high $1,700s. XRP and Dogecoin also pulled back.
Cryptocurrency-related stocks also retreated, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 6.35% and 5.26%, respectively.
Over $340 million was liquidated from the market in the last 24 hours, with long position traders bearing the brunt of the losses, according to Coinglass data.
Alongside the spot price dip, Bitcoin’s open interest contracted by 1.59% over the last 24 hours. Retail and whale derivatives traders on Binance, meanwhile, remained long on the apex cryptocurrency.
“Extreme Fear” sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:25 p.m. EDT) |
| Block Street (BSB) | +42.54% | $0.5404 |
| LAB (LAB) | +37.97% | $13.51 |
| SKYAI … |
McDonald’s bringing back fried apple pie to celebrate America’s 250th birthday
McDonald’s announced Tuesday that it is bringing back its fried apple pie to celebrate America’s 250th birthday.
The fried apple pies will be available at participating U.S. restaurants for a limited time starting June 23, marking their first broad U.S. rollout in more than 30 years.
“Summer tends to move fast – but the moments worth remembering don’t. And with America’s 250th birthday around the corner, we’re bringing back a fan-favorite and bona fide national treasure made for slowing down and savoring the season: the Fried Apple Pie,” the company said in a press release.
MCDONALD’S TESTING AI DRIVE-THRU ORDER-TAKING SYSTEM CALLED ARCHIQ AT FIVE LOCATIONS ACROSS COUNTRY
“The all-day menu item features our signature filling made with 100% American-grown apples, wrapped in the same golden crunch and flaky fried crust fans remember – or soon won’t forget,” it added.
McDonald’s said the dessert item started as a family recipe in the 1960s, when East Tennessee Owner/Operator Litton Cochran created a fried apple hand pie.
The treat became a local fan favorite and later a McDonald’s classic.
“There are certain things that just take you back – and the Fried Apple Pie is one of them. It’s something that people love and remember from growing up,” Eric Cochran, McDonald’s Owner/Operator, said in a statement.
“When Ray Kroc was trying to come up with a dessert for McDonald’s, my Grandad, Litton Cochran, suggested a Fried Apple Pie as a classic that people would love. My Grandmom, Jo Cochran, spent months perfecting the recipe. Bringing the Fried Apple Pie back for fans this summer to celebrate America’s 250th just feels right,” he continued.
McDonald’s replaced the fried apple pie in 1992 with a baked pie in most of the U.S. in response to growing consumer awareness about fat and cholesterol consumption.
The U.S. Department of Agriculture also published its food guide pyramid that same year.
MCDONALD’S IS QUIETLY DITCHING A POPULAR IN-STORE FEATURE NATIONWIDE
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Fried apple pies remained on McDonald’s menus in Hawaii and are still sold in other regions around the world, including the United Kingdom, Mexico, Greece, Australia and China.
In addition to the return of the classic dessert, McDonald’s is installing a 35-foot Fried Apple Pie on Route 66 in Joliet, Illinois, near the company’s Chicago headquarters. The giant pie will remain standing through July 4.
A kickoff event will also be held to debut McDonald’s Largest Fried Apple Pie in Chicagoland. The event will feature live music, ice-cold Coca-Cola and complimentary Arch Cards.
U.S.-Iran Draft Deal Revealed: What the 14 Provisions Actually Say and How They Could Reshape Oil Markets and the Middle East
Iran’s foreign minister, Abbas Araghchi, said on Tuesday that Iran and the United States will begin a new round of talks in Switzerland on Friday, right after both sides sign an interim memorandum of understanding meant to end their war.
Iranian deputy foreign minister Kazem Gharibabadi said the text is finished and the signing is set for Friday in Geneva.
A copy of the 14-point draft, reported this week by Bloomberg and Al Arabiya, shows an agreement built largely around economics — oil, shipping, sanctions, and the release of frozen money — with the hardest nuclear questions pushed into a later round.
The stakes are already showing up in prices.
Crude oil fell more than 4% to below $78 a barrel on Tuesday, its lowest level in months, as traders bet that a reopened Strait of Hormuz will bring Middle Eastern barrels back to a market that has been starved of supply since the fighting began.
Here is what the draft actually says, point by point.
1. End the War
Both countries and their allies declare an immediate and permanent end to the fighting on all fronts, including Lebanon, and pledge to stop attacks and threats against each other.
2. Respect Borders
Each side agrees to respect the other’s sovereignty and territory and to stay out of the other’s internal affairs.
3. A 60-Day Clock
The two governments commit to reaching a final agreement within 60 days, extendable if both sides agree.
4. Lift the Blockade
The United States drops its naval blockade and restores shipping to full pre-war levels within 30 days, and pulls its forces back from areas around Iran within 30 days of the final deal.
5. Reopen the Shipping Lanes
Iran moves to restore merchant traffic between the Persian Gulf and the Sea of Oman to pre-war volumes within 30 days, including clearing mines and other obstacles.
6. $300 Billion to Rebuild
The United States and regional partners agree to draw up a plan to rebuild and develop Iran’s economy, backed by financing of at least $300 billion, with the mechanics set within 60 days.
7. End the Sanctions
Washington commits to lifting all sanctions on Iran on an agreed schedule — United Nations measures, IAEA board resolutions, and U.S. penalties, both primary and secondary.
8. No Nuclear Weapons
Iran restates that it will never build a nuclear weapon, and both sides leave the fate of enriched material and other nuclear questions to the final agreement.
9. Freeze in Place
Until a final deal, both sides hold steady: Iran keeps its nuclear program as is, and the United States adds no new sanctions and no new troops to the region.
10. Oil Starts Flowing
Right after signing, the U.S. Treasury issues waivers for exports of Iranian crude oil and petrochemicals, plus the banking, insurance, and shipping services that make those sales possible.
11. Unfreeze the Money
As talks progress, frozen Iranian funds are released and made fully available, directed by the Central Bank of Iran.
Iranian media has put the near-term figure at about $24 billion.
12. A Watchdog
The two sides set up a mechanism to oversee that the final agreement is carried out and honored.
13. First Steps First
Final talks begin only once Iran gets assurances that the early economic moves — lifting the blockade, reopening shipping, the oil waivers, and the release of funds — are underway.
14. A U.N. Stamp
The final agreement would be locked in by a binding United Nations Security Council resolution.
For Americans, the most direct effect runs through energy.
Iranian oil and petrochemicals returning to the market, on top of a reopened Strait of Hormuz, point toward lower crude prices — and falling crude tends to reach the gas pump within days and ease the cost of nearly everything that is grown, made, or shipped.
Cheaper energy would also give the Federal Reserve more room as it watches inflation.
The sheer size of the numbers in the draft, from the $300 billion rebuilding fund to the $24 billion in released cash, hints at how much business could follow a lasting settlement.
The caution is real.
Neither Washington nor Tehran has formally published the text, much of the detail traces to Iranian sources, and the toughest issues — the nuclear program and full sanctions relief — are left to a 60-day round that has not yet started.
President Donald Trump has billed the accord as a guarantee that Iran will never get a nuclear weapon, but the payoff for households depends on a deal that still has to hold.
Washington — JBizNews Desk
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US Median Rent Falls for 34th Consecutive Month: Report
Last month marked the 34th consecutive month of year-over-year declines for studio to two-bedroom rents across the country’s 50 largest metro areas. The national median asking rent declined by 1.5 percent, or $26, compared with a year ago, standing at $1,686 per month in May.
An analysis of each apartment category showed that median studio rents nationwide fell by 1.9 percent, or $27, year over year to $1,422. One-bedroom rents were down by 1.5 percent, or $24, to $1,573, and two-bedroom rents also dropped by 1.5 percent, or $28, to $1,885….
U.S.-Iran Deal Lets Tehran Begin Selling Oil Immediately, With Banking and Shipping Sanctions Waived at Signing
A senior U.S. administration official said Tuesday that Iran will be cleared to begin selling oil the instant it signs a new agreement with Washington this week, handing Tehran an immediate financial reward for winding down the war that has gripped the region since late February.
The break does not stop at crude.
The same official said the agreement also waives U.S. sanctions on the banking, shipping, and insurance services Iran needs to move its oil and collect payment for it.
That detail matters more than it sounds.
A waiver on oil sales alone would change little, because no buyer, bank, or tanker owner will touch Iranian barrels without those supporting services cleared first.
Both sides signed the memorandum of understanding electronically on Sunday, and President Donald Trump has said the full text will likely be read out Friday after a formal signing ceremony.
The relief on oil exports takes effect the moment that signature is in place.
The agreement is built to reward Iran only if it holds up its end.
“This is a performance-based agreement,” the official said, speaking on condition of anonymity.
Tehran keeps the benefits only if it follows through on its core promises: building no nuclear weapon, neutralizing its stock of enriched uranium, and keeping the Strait of Hormuz open to shipping.
That last condition sits at the center of everything.
Roughly 20% of the world’s oil and liquefied natural gas normally moves through Hormuz, the narrow waterway at the mouth of the Persian Gulf.
Iran effectively closed the strait after the U.S. and Israel struck the country on Feb. 28, choking off a major share of global supply and sending energy prices sharply higher for months.
Washington answered with a naval blockade that kept Iranian oil bottled up.
The pressure was real on both sides.
U.S. emergency crude reserves have fallen to their lowest level since 1983, drained by months of trying to keep the market supplied while the strait stayed shut.
Not everyone sees the deal as a clean win.
Brett Erickson, a sanctions expert and managing principal at Obsidian Risk Advisors, called the move a “multibillion-dollar concession to Iran.”
He noted that Tehran is sitting on more than 100 million barrels of oil in storage and on tankers, with over 60 million barrels already outside the blockade and ready to sell.
For context, the world burns through roughly 100 million barrels of oil a day.
Iran is not waiting for the ink to dry.
The nonprofit United Against Nuclear Iran reported that an Iranian supertanker left the port of Chabahar on Tuesday and sailed past the U.S. blockade line into the Gulf of Oman with its tracking transponder switched on — the first such move since Washington imposed the blockade.
Iran’s state Mehr News Agency published what it described as the 14 points of the draft agreement.
They include a permanent ceasefire, a full lifting of the naval blockade within 30 days, the reopening of Hormuz, a suspension of oil sanctions, and the release of $24 billion in frozen Iranian funds over a 60-day negotiating window.
Tehran will not get immediate access to that cash; it is tied to the talks ahead.
Markets had already begun pricing in the relief.
Brent crude, the international benchmark, fell more than 5% to below $80 a barrel on Tuesday, its lowest level since the first week of March, erasing most of the spike driven by the conflict.
West Texas Intermediate, the U.S. benchmark, dropped to around $75.50.
Both had climbed more than 45% at the height of the war.
For American businesses and households, the math is straightforward.
Cheaper crude eventually means cheaper gasoline, diesel, and jet fuel, which ripple through everything from trucking and airline costs to the price of groceries that have to be shipped.
A drop of this size, if it holds, takes pressure off shipping companies, manufacturers, and any business that has been swallowing higher fuel bills since the spring.
The timing also carries a political read.
The Trump administration has been openly worried about a gasoline price spike heading into the November midterm elections, and a deal that puts Iranian barrels back on the water is the fastest tool it has to bring pump prices down.
Plenty could still go wrong.
The text has not been publicly released, questions remain over how shipping security and Hormuz traffic will actually work, and the relief is conditional from day one.
But for the first time in months, oil is moving out of Iran, prices are falling, and the businesses caught in the middle finally have reason to expect some relief.
Washington — JBizNews Desk
JBizNews Desk / © JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.
Air Force head should not have revealed details of canceled mission, Netanyahu tells Zamir – report
Prime Minister Benjamin Netanyahu told off IDF Chief of Staff Lt.-Gen. Eyal Zamir during a security cabinet meeting after Israeli Air Force Commander Brig.-Gen. Omer Tischler released a letter on Tuesday revealing details on the canceled attack on Iran, Ynet reported.
“He shouldn’t have written that. This was a national mistake and a blow to our unity,” Netanyahu told Zamir. “It embarrasses us in front of Trump.”
The letter, Ynet reported, claimed that an attack on Iran last week had been canceled only an hour before it was due to begin.
The attack came after Israel launched several other attacks against both Iran and Hezbollah, Tischler wrote, including strikes in the Dahiyeh district of Beirut.
“It is too early to know how global developments will affect the security reality, but our mission was and remains to protect the security of the State of Israel and to act on its behalf,” the letter read. “Men and women of the force, my subordinates, in a time of uncertainty, I have full confidence in you.”
Israel strikes Dahiyeh in response to Hezbollah fire
The IDF’s strikes in Dahiyeh were in response to Hezbollah fire toward Israeli territory, Netanyahu and Defense Minister Israel Katz confirmed on Sunday in a joint statement.
“Israel will not tolerate fire directed at its territory,” the statement said.
The strikes precisely targeted one of Hezbollah’s command centers located within Dahiyeh used by the terror organization to “advance terrorist attacks against the citizens of the State of Israel and IDF soldiers operating in southern Lebanon,” the military added.
Jerusalem Post Staff contributed to this report.
‘You Arabs should not be here’: Suspect arrested for spitting at, threatening pharmacist
Eliezer Bublil, 63, from Even Yehuda, was arrested on Monday on suspicion of threatening a pharmacist at a Clalit Health Services pharmacy, spitting at her, and making racist remarks, including: “You Arabs should not be here.”
According to the suspicion, Bublil arrived at the pharmacy on Monday with a prescription for his wife. During his time there, a dispute developed between him and the pharmacists, who he claimed refused to treat his request. At one point, he allegedly began cursing, issuing threats, and spat at one of the pharmacists.
The pharmacy staff called the police, and Bublil was arrested on suspicion of threats and assault. He was later brought for a hearing at the Petah Tikva Magistrate’s Court, where police requested a five-day extension of his detention.
Police representative Sr.-St.-Sgt.-Maj. Yaniv Hindi described the sequence of events in court, saying: “The suspect arrived at the health clinic in Even Yehuda. There was a dispute with the pharmacists at the location. The pharmacist was frightened and called the department manager. When she arrived, he spat at the pharmacist.”
During the hearing, police presented security camera footage from the pharmacy, which allegedly documents the incident and Bublil’s actions.
Suspect does not need detention, defense argues
The suspect’s defense attorney argued that the confrontation began after the pharmacists refused to dispense medication for his wife, who had undergone back surgery. According to him, this was an incident that did not justify continued detention, especially given the suspect’s age, and that it would be sufficient to impose a restraining order from the location.
Judge Dror Kletman accepted the defense’s position and ordered Bublil’s release under restrictive conditions. As part of the decision, he was barred from approaching the pharmacy for 15 days, contacting the pharmacist involved, and was required to sign a financial guarantee.
In his ruling, the judge wrote: “Despite the ugliness of the incident, the level of dangerousness is low.” He also noted that if the suspect is found guilty, “he will be held accountable within the main case.”
Iranian football player’s US visa expired after one World Cup game, Iran Football Federation says
The Iran Football Federation (FFIRI) said on Tuesday that winger Mehdi Torabi’s visa had expired after a single visit to the United States for the team’s World Cup opener in Los Angeles.
Torabi, an unused substitute in Monday’s 2-2 draw with New Zealand, is an ardent supporter of the Iranian government and has links to the Islamic Revolutionary Guard Corps (IRGC).
The Iran national team is commuting from its tournament base in the Mexican border city of Tijuana for their three World Cup group-stage matches, the first two in Los Angeles and the third in Seattle.
“While multiple-entry visas were issued for the team’s players to travel to the United States, Torabi’s visa was valid for only one entry,” an FFIRI spokesman said.
“Following the team’s trip to Los Angeles for the match against New Zealand and the completion of that game, his visa has now expired.
“The Iran Football Federation has taken action to obtain a new visa for Torabi so that he can continue to accompany the national team in its upcoming matches.”
Iran’s next group match is against Belgium on Sunday, and Torabi would need a new visa by Saturday at the latest if he is to join the squad on their trip to California.
During the 2019 anti-government protests, Torabi wore a T-shirt on the pitch during a club match reading: “The only way to save the country is to obey the leadership.”
The 31-year-old was also a regular presence at nightly pro-government rallies in Tehran’s Valiasr Square that took place after US and Israeli air strikes on the Islamic Republic triggered a regional conflict in late February.
Rubio says US would not allow anyone with links to IRGC
The US government classifies the IRGC as a “terrorist entity,” and US Secretary of State Marco Rubio said it would not allow anyone with links to the IRGC to enter the country with the players.
Iran’s World Cup team supervisor Mahdi Mohammad Nabi was among 15 FFIRI officials who were denied visas to travel to the US for the World Cup games.
This had been set to be the first World Cup in which a host nation received a country it was at war with until a peace deal was announced barely 24 hours before Monday’s match.
Coach Amir Ghalenoei said the travel chaos stemming from tensions between Iran and the US had “oppressed” his players and affected their performance against New Zealand.
Four infants hospitalized in Jerusalem after consuming puree containing sedatives
Four infants were hospitalized in Jerusalem on Thursday after consuming fruit puree laced with anesthetic substances.
Two one-year-olds and two 3-year-olds were taken to Hadassah Ein Kerem Hospital after exhibiting signs of confusion and weakness.
Blood tests found traces of benzodiazepines, a substance used in psychiatric medications and sedatives.
The children were all discharged from the hospital in stable condition.
The Jerusalem Police opened an investigation over the weekend after confirming that three of the infants had consumed baby puree from the brand Prinok. So far, no suspects have been identified.
Randi, the company that markets the brand in Israel, said that it is “committed to the health of infants,” emphasizing that its products are high-quality and “tested by an accredited laboratory at the production plant, and are tested again upon entry into the country by the Health Ministry.”
Tests at manufacturing plant show no unusual findings
The company noted that tests carried out at the manufacturing plant did not reveal any unusual findings. “Tests conducted at the manufacturing plant show that there is no concern of foreign substances in the products, and as a precaution, product samples were also sent to the Health Ministry for testing,” it said.
It added that the Health Ministry’s preliminary review reveals that the incident was local. “Given that the product is sold at hundreds of points across the country, we estimate that there may have been external interference with the product,” it said.
Randi emphasized that it will continue to monitor the findings and share any new information with the public.
Entire Bnei Menashe community to immigrate to Israel within five years, gov’t promises
Prime Minister Benjamin Netanyahu promised new immigrants from India’s Bnei Menashe community on Thursday that Israel will “bring the entire community to Israel over the next four years” during an event welcoming its first members.
Approximately 600 new immigrants from the Bnei Menashe community in Northeast India have moved to Israel since the beginning of this year, with an additional 600 expected to arrive by the end of 2026.
A proposal made by the Aliyah and Integration Minister was approved by the government to bring the entire 6,000-person community to Israel in about five years.
The community currently resides in the northeastern Indian states of Manipur and Mizoram.
“After years of strengthening the bond between Israel and India, thanks to the warm relationship with my friend Narendra Modi, I am thrilled to see the Bnei Menashe returning home,” said Netanyahu during the event.
“We are going to bring the entire community to Israel over the next four years. You are an inseparable part of the Jewish People, and Israel is your home. I wish you a successful absorption and great success in the Galilee and in Nof Hagalil. Welcome back home to the State of Israel.”
Aliyah and Integration Minister Ofir Sofer said it is “deeply moving” to witness immigrants fulfilling a long-standing dream. He thanked Netanyahu and Finance Minister Bezalel Smotrich for their support in advancing the “historic decision to bring the entire Bnei Menashe community to Israel.”
Sofer also announced the inauguration of the Tavor absorption center, whose goal is to provide immigrants with a supportive framework, including helping them learn Hebrew, integrating them into the education system and the job market, and helping them build homes.
The center was created in cooperation with the Jewish Agency and the municipality of the northern city of Nof Hagalil.
Fulfilling a prophetic vision
“This moving event here is clear evidence of the fulfillment of the prophetic vision of the Return to Zion in our generation,” said Smotrich, who added that he was thrilled to celebrate together with the community.
“You are an inseparable and essential part of the fabric of Jewish life throughout the ages, and of Israeli society here today,” he told them. “We will continue to stand by your side, remove barriers, and ensure that every immigrant feels at home, takes root, and integrates into the action and building of the land. Welcome back home.”
The mayor of Nof Hagalil, Ronen Plot, called the immigration a “historic moment” for the city and the “realization of the vision of absorbing immigration from all corners of the earth.”
How the Pentagon Plans to Fix Its Expensive Missile Problem
During the opening week of the war with Iran, American forces were shooting down cheap enemy drones — some costing as little as $30,000 — with missiles that cost more than $1 million apiece. In May, the Department of Defense laid out a plan to stop that math from breaking the budget, announcing framework agreements to buy more than 10,000 low-cost cruise missiles over three years. Under Secretary of Defense for Research and Engineering Emil Michael said the effort would “deliver affordable mass for our warfighters at unprecedented speed.” This month, the military begins buying test versions to see which ones actually work.
The problem is simple to state and expensive to live with. America’s best missiles are extraordinary machines, but they cost a fortune and take years to build. A single THAAD interceptor ran about $12.77 million in 2025, according to Pentagon figures. A Tomahawk cruise missile costs roughly $3.5 million and takes about two years to deliver. When a war suddenly demands thousands of these weapons, the shelves empty faster than factories can refill them.
That is exactly what happened. The war with Iran, which began on February 28 and which Washington and Tehran agreed to end on Sunday, burned through American stockpiles at a startling pace. Navy ships fired large numbers of missiles defending against attacks and launching strikes, raising hard questions about how fast those weapons could be replaced. THAAD has not received a new interceptor delivery since July 2023, and a backlog of about 100 interceptors is not expected to start arriving until April 2027.
The drone problem made the squeeze worse. Cheap, slow-flying attack drones — like the Iranian-style Shahed, which costs roughly $30,000 to $50,000 to build — can be launched by the dozen. Knocking each one down with a multimillion-dollar interceptor is a losing trade, even when it works. Army Secretary Dan Driscoll told lawmakers the Army rushed to buy 13,000 cheaper interceptors called Merops at about $15,000 each in the first days of the conflict to close that gap.
So here is the fix. Instead of relying only on a handful of exquisite, costly weapons, the Pentagon wants a deeper magazine: large numbers of cheaper missiles that can be bought in bulk, fired at easier targets, and held in reserve so the expensive ones are saved for the hardest jobs. The military calls it a “high-low mix.”
The centerpiece is the Low-Cost Containerized Missiles (LCCM) program. Rather than turn only to the traditional defense giants, the Pentagon signed agreements with four newer companies — Anduril, CoAspire, Leidos, and Zone 5 Technologies — each expected to deliver roughly 3,000 missiles and launchers between 2027 and 2029. Anduril will supply a surface-launched missile called the Barracuda-500M and plans to build as many as 1,000 annually. The weapons are designed to fit inside standard shipping containers, allowing them to be moved by truck, ship, or aircraft and quickly deployed from mobile launchers.
A separate effort targets the high end of the market. The Pentagon agreed to buy at least 500 Blackbeard hypersonic missiles annually from startup Castelion once testing is complete and is seeking approval to acquire more than 12,000 over five years. Under Secretary of Defense for Acquisition and Sustainment Michael Duffey said the strategy is intentionally “moving beyond the traditional prime contractors to expand our industrial base.”
That shift has triggered a race throughout the defense industry. New entrants such as Anduril and Castelion are seeking a permanent place in a sector long dominated by Lockheed Martin and RTX. Established contractors are investing heavily to defend their positions. RTX has said it plans approximately $3.1 billion in capital spending during 2026, while Lockheed Martin says it has invested more than $7 billion since President Donald Trump’s first term to expand production capacity. Lockheed Martin has also agreed to quadruple production of THAAD interceptors.
The challenge is whether industry can deliver. The Pentagon’s 2027 budget request seeks a 188% increase in missile procurement, a jump many defense analysts say exceeds current manufacturing capacity. Becca Wasser of Bloomberg Economics described the effort as a generational investment intended to rebuild stockpiles that may be needed for years. The new fixed-price contracts also place much of the risk for delays and cost overruns on contractors rather than taxpayers.
For now, the real test begins this month as the first batch of low-cost missiles heads to military testing ranges. If the weapons perform as expected, the Pentagon may finally have a way to fight prolonged conflicts without exhausting its inventories — or spending billions of dollars destroying threats that cost only a fraction as much to build.
JBizNews Desk
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A Federal Appeals Court Lets Trump Keep Collecting His 10 Percent Global Tariff While the Legal Fight Plays Out
A federal appeals court ruled last Thursday that the government can keep collecting President Donald Trump’s 10% worldwide tariff while legal challenges to it work through the courts, handing the administration a procedural win in one of the central fights over its trade agenda.
The U.S. Court of Appeals for the Federal Circuit concluded that the government was “likely to succeed on the merits,” and lifted a lower-court order that had blocked the tariff for a handful of plaintiffs.
The decision means importers across the country, including the three that had won relief, will keep paying the surcharge for now.
The tariff at issue is not the broad set of duties the Supreme Court struck down in February.
After that ruling wiped out Trump’s emergency-powers tariffs on nearly every country, the president quickly imposed a new 10% worldwide levy under Section 122 of the Trade Act of 1974, a rarely noticed provision that no president had ever used to justify tariffs.
It took effect February 24 and is set to expire July 24 unless Congress acts to extend it.
Section 122 allows a president to impose worldwide tariffs of up to 15% for 150 days to address what the law calls “fundamental international payments problems.”
The legal dispute turns on what that phrase means.
The administration argues it covers the trade deficit, the gap between what the United States buys from other countries and what it sells them.
In May, a split panel of the U.S. Court of International Trade disagreed, ruling 2-1 that the tariff was “unauthorized by law” and that Trump had overstepped the power Congress gave him.
But that court only blocked collection for the three parties that had sued and were found to have standing: the state of Washington, the spice importer Burlap and Barrel, and the toy maker Basic Fun.
The appeals court took a sharply different view.
In an unsigned order, it rebuked the trade court’s “narrow interpretation” of the law, suggested those judges “may be incorrect,” and found that blocking collection would cause harm to the federal government.
The practical effect is that the three plaintiffs go back to paying the tariff alongside everyone else while the case continues.
A coalition of 24 states that filed its own challenge has been folded into the appeal.
Here is why it reaches into everyday life.
The 10% tariff applies to nearly everything the United States imports, from food and clothing to electronics and industrial parts.
Those taxes are paid first by American importers, and a share of the cost typically flows through to the prices consumers pay.
As long as the tariff stands, that added cost stays in the system, and businesses that had hoped a court might end the levy, or refund what they have paid, are left waiting.
The fight is far from over.
The Federal Circuit has agreed to hear the full appeal on an accelerated schedule, and whatever it decides, the case could ultimately land back at the Supreme Court.
The tariff itself is also living on borrowed time, set to lapse in late July unless lawmakers extend it.
For now, though, the message from the appeals court is clear:
The 10% tariff stays, the meter keeps running, and the legal reckoning will have to wait.
Washington — JBizNews Desk
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The WSJ Dollar Index Falls 0.08% to 96.15
Kevin Warsh Opens His First Meeting as Federal Reserve Chair, With Rates Expected to Hold and a New Tone in Focus
Kevin Warsh opened his first policy meeting as chair of the Federal Reserve on Tuesday, a closely watched debut that will shape how Americans borrow, save and read the central bank for years to come.
The two-day meeting of the Federal Open Market Committee concludes Wednesday, when the Fed will announce its interest-rate decision and Warsh will hold his first press conference as chair.
Almost no one expects the rate itself to change.
The Fed is widely projected to hold its benchmark steady in a range of 3.50% to 3.75%, where it has sat since December 2025.
With that question largely settled, attention shifts to Warsh himself, and to what his arrival means for the direction of policy.
Warsh was sworn in on May 22 after a narrow 54-45 Senate confirmation vote, becoming the 17th chair of the Federal Reserve.
His predecessor, Jerome Powell, has agreed to stay on as a governor, an unusual arrangement that leaves the former chair in the room as the new one takes charge.
That makes Warsh’s first impression all the more important.
Because June is a quarterly projection meeting, Wednesday will bring more than a rate decision.
The Fed will release updated economic forecasts and a fresh “dot plot,” the chart that shows where each policymaker expects rates to go.
Many economists expect the committee to drop its long-standing lean toward future rate cuts and adopt a neutral stance instead, a quiet but meaningful shift.
Inflation is running near its hottest level in more than three years, and energy prices remain elevated even as the war with Iran winds down.
Both argue against cutting.
Some officials may go further: analysts at Bank of America expect at least three of the committee’s twelve voting members to pencil in rate hikes this year, and options markets still put the odds of at least one increase before year-end near 80%.
That puts Warsh in a tight spot from day one.
President Donald Trump, who nominated him, has been publicly demanding lower rates, arguing on television over the weekend that raising them would be a mistake.
The bond market and the inflation data are pulling the other way.
How Warsh navigates that pressure, while keeping a divided committee together, will say a great deal about the years ahead.
There are two things to watch beyond the rate.
The first is tone.
Warsh has signaled he wants a more open, argumentative Fed, telling senators at his confirmation hearing that he favors “messier meetings” where policymakers can have a real debate.
That is a departure from the careful consensus Powell prized, and it could mean more public disagreement among officials.
The second is the Fed’s massive bond portfolio.
Warsh has long argued the central bank should hold mainly Treasury securities and shed the roughly $2 trillion in mortgage-backed bonds it still owns.
If he signals plans to start actively selling those bonds, rather than letting them slowly expire as Powell did, it could push mortgage rates higher, a change that would land directly on anyone trying to buy a home.
That is the thread tying all of this to everyday life.
The Fed’s decisions set the cost of mortgages, car loans and credit cards, and the interest paid on savings accounts.
A hold keeps borrowing costs where they are for now.
But the signals Warsh sends about inflation, about future moves and about that bond portfolio will shape what families pay to borrow well into next year.
The decision and Warsh’s remarks come Wednesday afternoon.
Wharton finance professor Jeremy Siegel called it one of the most important Fed meetings in years, precisely because so much of it is about the man, not the math.
For now, the rate is expected to stay put.
The bigger story is what kind of Federal Reserve Kevin Warsh intends to run.
Washington — JBizNews Desk
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Britain’s Jewish Culture Month aims to move conversation beyond October 7
In the almost three years since the October 7, 2023, Hamas invasion of Israel, Great Britain has seen “a relentless focus on everything to do with the Jewish community in the public domain, and it’s about antisemitism or Israel,” said Adam Ma’anit, the communications manager for the Board of Deputies of British Jews.
Over the past four weeks, a flurry of performances, lectures and art exhibits has been an opportunity to move past that.
The Board of Deputies, which represents a community of diverse and often competing views under its umbrella, created Jewish Culture Month, a first-of-its-kind series held under the banner of “Less Oy, More Joy.” The month was designed to bolster Jewish communal confidence and to introduce wider audiences to aspects of Jewish life that rarely make headlines.
The month, which wrapped up Tuesday, sought to make clear that British Jewish identity is, and always has been, about far more than conflict. “We’re not defined as a community by pain,” Ma’anit told the Jewish Telegraphic Agency. “We’ve got great architects, writers, and musicians as well.”
Those artists were featured in more than 150 events over four weeks across the country at major museums and galleries , including London’s British Museum, Oxford’s Bodlein Library, Bath’s Little Theatre Cinema, Nottinghamshire’s National Holocaust Museum, and local synagogues and private homes nationwide.
Among them was The Klezmer Village Band, which introduced Jewish culture to primary schools in Plymouth. “We wanted to bring Jewish culture back into the community,” Plymouth Jewish Community Director Louise Clements said. “This is the first time in many years that something like this has happened here.”
One of the band’s musicians, Ilana Cravitz, also noted after the event that “music is a wordless language. People respond from inside – they stop thinking, they feel. And we really saw that today.”
British celebrities join Jewish Culture Month celebrations
Notables featured throughout the celebrations included British broadcaster and television personality Vanessa Feltz, who spoke at the opening at London’s Freud Museum; comedian Bennett Arron, who performed stand-up routines in Hampstead, London; and acclaimed British artist and vocal Israel critic Anish Kapoor, whose exhibit opening on Tuesday closed out the month.
“Part of Jewish Culture Month is about us celebrating our own culture and being proud, British Jews, and asserting ourselves in an environment where it has been the most challenging to be that very British Jew,” said Ma’anit.
The Holocaust Memorial Day Trust noted another aspect of the festival soon after it kicked off on May 16. “At a time when division and prejudice continue to affect communities across the country, initiatives like Jewish Culture Month can help build understanding and strengthen social cohesion,” it posted social media.
However, some thought it difficult to focus on social cohesion when discussing contemporary British Jewish identity without discussing how that identity dovetails with British Jews’ relationship with Israel.
It’s something that Jewish Renaissance, the online magazine of Jewish culture, raised ahead of the opening. Freelance writer and former Jewish Quarterly editor Matthew Reisz wrote that while there was definitely diversity in the program, “We seem unlikely to hear much about the deep divisions within the community, not least in relation to Israel/Palestine, or the crucial, though often tense dialogue with other minority communities on both shared and contentious issues.”
Ma’anit insisted that the choice was a deliberate one. “It’s not a rejection of Zionism or distancing ourselves from Israel,” he said. “Quite the opposite. The board’s leadership remains openly supportive of Israel and many of the figures involved in the project have deep personal and family ties to the country.”
Israeli-born Ma’anit is one of those figures. He is the cousin of the Idan family of Nachal Oz, a kibbutz close by the border with Gaza. Eighteen-year-old Maayan Idan was shot and killed by Hamas terrorists on October 7 while trying to help her father, Tsachi, hold their safe room door closed. The entire event was livestreamed by the terrorists. Tsachi was abducted into Gaza, where it was believed he was still alive as the war on Gaza raged. It was discovered only later that he had been murdered, with his body finally returned in the hostage deal in February 2025.
Ma’anit, who spent those years lobbying for the hostages’ return, appearing on news programs and organizing hostage vigils in his hometown of Brighton, has been forced to meld the personal with the professional when it comes to the post-October 7 era.
It’s why, he said, Jewish Culture Month is about creating space for aspects of Jewish identity that have been overshadowed post October 7. “The argument is not that Israel is unimportant,” he said, “it’s that Jewish life cannot be reduced to Israel alone.”
Museum lecture canceled over protester security concerns
Yet even without a focus on Israel and Zionism, the month did not pass without the conflict in the Middle East affecting the program. In May, a culture month lecture titled “Ancient Israel and Judah” at the British Museum had to be postponed, the museum said, because of “security concerns” over potential “disruptions” by protesters who had obtained tickets. The rescheduled event, held June 11, was the best-attended of the entire series, with around 4,000 people joining in person and online.
Ma’anit called the incident “overblown. It was just procedural,” he said. “People fill in the blanks and then it gets out of control.”
However, the speed with which the controversy escalated and elicited angry reactions from many in the community only served to highlight how questions about Jewish visibility and any event with “Israel” in the name – even a reference to thousands of years ago – have become highly charged in the last three years.
“It just shows how on edge the community is,” Ma’anit said.
That has intensified the need for something like Jewish Culture Month in the eyes of many British Jews. Steph Thwaites, head of a group dedicated to helping Jewish publishing professionals navigate an increasingly hostile publishing industry, said after a Jewish Culture Month event on the topic that the professionals felt “a sense of community and a source of comfort,” as well as a space to “combat anti-Jewish racism in publishing and to support Jewish creatives.”
Ultimately, as UK Communities Secretary Steve Reed put it in his speech at the launch of the festivities, Jewish Culture Month “is a time to celebrate Britain’s Jewish community and its contribution to our shared story. It’s a time for coming together. It’s a time for friendship. Jewish experience cannot just be about defending against fear; it also has to be an expression of hope and joy and freedom.”
Youth being recruited to carry out shootings against Jewish, US targets, Toronto police chief says
Young people are being hired to carry out shootings at targets around Toronto, including Jewish schools and synagogues, and the US consulate, Toronto’s police chief, Myron Demkiw, told reporters on Tuesday.
Demkiw called the conference to provide an update on arrests made in multiple firearm discharge investigations, including the shooting at the US Consulate that took place on Tuesday, March 10, 2026, and the killing of a veteran Toronto police officer last week during a raid linked to the shootings.
Addressing the broader pattern, Demkiw said, “What we are dealing with in this case and in other unrelated incidents, including shootings at synagogues and Jewish schools, is a recurring and similar modus operandi, and that is criminals for hire.”
“Through encrypted messaging apps, young people are hired to carry out attacks against various targets. And in order to get paid, they’re required to film their attacks.”
He said that the police, along with the RCMP and the FBI, are still trying to determine who is paying for this.
“I know there’s been a lot of reporting about criminal groups and foreign actors, but what I can tell you is that we are still working actively to investigate who is responsible for orchestrating these criminal acts.”
What is known, Demkiw said, is that bad actors are using criminal elements in Toronto to carry out these “dangerous incidents.”
“And it is clear that some of the people hiring these criminals want to create a sense of fear in our communities, including in the Jewish community,” he added.
‘Very complex investigations’
When asked which encrypted apps are being used to recruit the youth, Chief Supt. Joe Matthews told reporters that, so far, the apps are WhatsApp, Telegram, and Signal, but that the police is “expecting to uncover many more device apps.”
“These are very complex investigations. That’s why we are supporting our federal and provincial partners with legislative reform to allow us to be able to intercept encrypted apps, obviously through judicial authorization.”
Matthews said the networks “for sure” go beyond Toronto’s scope and are national, if not international.
Fmr. Mossad intelligence chief: Iran could move faster toward nuclear bomb under new leadership
Ze’ev Palti, the former head of the Mossad intelligence directorate, warned that he does not know how long it will be before Iran’s new leader decides whether to continue on his father’s path or change course toward a bomb in an interview with 103FM on Tuesday.
The United States and Iran agreed to a framework agreement on Sunday that is expected to advance negotiations between the two sides. Palti, who previously headed the Mossad’s intelligence directorate, laid out his view of the next stage in the campaign against Iran, of relations with the United States, and of the situation in Lebanon.
“I was not around for the Sinai Campaign and things like that, but once you are dealing with powers and fighting powers, you are almost not in focus,” Palti said, analyzing the implications of a war managed by great powers.
“This is the Americans’ war; their army did everything, and that is how it is presented there in the US. I mean, they decide, they close the war. President Trump is fed up with this whole affair and decides he has had enough of it.”
He added that Israel had no choice but to go to war with the US, noting, “The moment you decide, as in Iraq in 1981 or as in Syria in 2007, to take off and do things on your own, then no one interferes with you because you are not asking for favors. To a large extent, this war was enormous; we needed the US both for defense and offense. We need to look ahead; what we are talking about now is water under the bridge. We need to examine whether it is right to build power and capabilities so that in the future we will not need the Americans. I am deliberately looking ahead. Yes, we do need to investigate and understand whether we did everything right in order to reach a conclusion, and one can debate and challenge it.”
“These are things we need to deal with now because I do not know how much time we have until this young new leader decides whether he continues his father’s line of not rushing to the bomb, or suddenly changes course. We do not have time, we do not have time now. We must build power and give the IDF as many capabilities as possible to reorganize itself so it will be ready for the next campaign, and it will come,” he explained.
Israel must remain ready for escalation, Palti warns
Later, he clarified that Israel has slightly improved its position but still needs to be ready for escalation: “When it comes to Iran, one always has to be worried. Israel is not forsaken. We have been around this threat for several decades. Our situation is a little better now after the last two rounds, but as we understand, especially in recent days and after this botched agreement, Iran is with us for a long time.
“We have a huge challenge right now. I think it is a bit of an exaggeration to say our situation is worse than it was. There are two things, one with Iran and its missile program, and part of the bitterness is in light of the strategic plan right now, certainly in the world and in the Western world. If I deal with the Iranian issue alone, I think our situation is better than it was two years ago,” he added.
“There are always things we will not know about. When it comes to Iran’s ballistic missile issue and the program that was once about thousands, which led our decision-makers to strike in the current round, even on the nuclear issue, we knew how to assess the stages over the years. Overall, we had our finger on the pulse at a good and reasonable level. But is that always true? I do not know. Right now, a great deal of money needs to be invested to make sure that if there is a change in decision-making in Iran, we can know about it a minute before. Another thing is to build real strength inside the Mossad so that we can do things we did not do in the current campaign.”
Finally, he pointed to Israel’s weak spot at this stage of the campaign: “Our weak point is Lebanon. What sparked Iran’s firing at Israel was that same equation, that if we attack in the Dahieh, they attack us. We tried to break that equation in the strike the day before yesterday, and it did not work out so well for us, and they rushed to a nuclear agreement or to the thing they signed virtually. Lebanon is a problem, and it could develop in the coming days.”
Experts warn of essential service disruption if Israel’s electricity supply disrupted – study
“Be Prepared!” has been the motto of the international Scouts Movement since 1907, but it would be worth adopting in Israel for coping the not-too-likely possibility that an enemy would succeed in knocking out its entire electricity supply. In the event that Israel’s foes accomplished such a catastrophic attack, the country should be ready to cope with it.
Now, a new study at the Yannay Institute for Energy Security of Reichman University in Herzliya has warned of potential widespread disruption to essential services in the event of a prolonged power outage in Israel. In recent years, the possibility of a nationwide blackout has evolved from a theoretical threat into an issue with immediate and far-reaching implications. It has also increasingly become part of the public conversation, following warnings issued by the Israel Electric Corporation and Noga, Israel’s national electricity system operator.
The institute, established two years ago by the country’s first and only private university, is dedicated to advancing energy security and resilience in Israel and globally. It pioneers cutting-edge research across technology, economics, regulation, and environmental fields, addressing critical issues in energy economies and security. By producing rigorous studies and policy papers, the Institute provides data-driven, science-based proposals for designing effective, long-term energy policies, said Avri Schechter, its director, in an interview with The Jerusalem Post.
“Israel has been at war with Iran, which targeted our infrastructure, but our lights didn’t go off. We have not only to prevent it but to plan how to cope if it does. After October 7, 2023, many Israelis bought expensive generators to store electricity, but since then, they have realized they are not needed and haven’t managed to sell them even secondhand. There is no reason for Israelis to store large number of water bottles, cash under the floorboards, or endless cans of food in their pantries,” Schechter insisted.
The institute organizes conferences, roundtables, and exclusive forums that bring together researchers, policymakers, and senior executives from the business, and public sectors and educates and empowers the next generation of decision makers in the energy sector.
Blackout could cause breakdown of life-sustaining systems
According to Schechter and Dr. Asaf Tzachor, founder and academic director of the institute, the main danger in a prolonged blackout is not just the loss of electricity itself, but the gradual breakdown of the systems that sustain life in a modern country like Israel: communications, water, transportation, healthcare, food supply, and payment systems. The question guiding the researchers was not when electricity would be restored, but how long essential services could continue to function without it. Rather than reviewing the wide range of threats facing Israel’s energy sector and electricity grid including terrorism, missile attacks, cyberattacks, and geophysical risks, the research team examined how disruptions spread from one critical system to another, ultimately developing into a multi-system national crisis.
Schechter brought together leading experts in a variety of relevant fields and worked on the study for six months. “The risk is low, but we need to think about the repercussions, what to do, and are we ready,” he said.
“The purpose of this study is not to cause alarm – it’s the opposite. We call for a shared professional framework and integrated cross-sector planning. The national challenge is not only how to prevent a blackout, but how to maintain operational continuity if one occurs. After 72 hours, the challenge shifts from electricity itself to the management of essential services and the resilience of the economy. A blackout is a stress test not only for individual systems, but for the interfaces among them. If each system focuses solely on protecting itself, without cross-system coordination, localized protective measures may ultimately weaken the resilience of the system as a whole. Now is the time to prepare – during periods of routine and relative calm – through scenario planning and regular exercises.”
Many systems, from hospitals to tower elevators and water desalination plants have backups in the event of a halt in power, but these will not continue for more than a few days. Planning how to cope can be a proactive and controlled management tool aimed at preventing a widespread collapse, said Schechter, whose study examines the family ranging from a partial reduction in supply, load rationing, managed or unmanaged disruption on a regional scale to a large-scale blackout.
“When people think about a blackout, they imagine a power outage, dark windows, and candles. But the real danger lies further down the chain of consequences. Within minutes to hours, a form of ‘functional darkness’ begins to spread across critical systems, Schechter explained. “Home internet connections fail; water pumps in high-rise buildings stop working; refrigerators and freezers cease functioning. In public spaces, traffic-control systems, road signs, signals, and traffic lights are disrupted. Many essential services – including petrol stations, community healthcare services including kidney dialysis and other lifesaving hospital procedures, automated teller machine and payment systems – become dependent on backup power and connectivity. As the outage continues, resources become scarce and public pressure intensifies. Public order begins to deteriorate.”
This catastrophe will probably cause panic to spread among the citizenry, perhaps not on the first day, but the strain accumulates, and with each passing day, the economic and social fabric of the country begins to unravel, they said.
Communications, water, transportation, are key systems at risk in blackout
One of the study’s key conclusions is that different systems require different preparedness strategies. Certain systems act as what the researchers describe as “risk multipliers” – when they fail, other systems fail with them. The analysis identifies three such systems: communications, which is essential for command and control, coordination, and the dissemination of information to the public; water, because access to safe water is fundamental to public health and institutional functioning; and transportation and fuel supply, because without the ability to move personnel, spare parts, and fuel, emergency services cannot operate effectively, infrastructure damage cannot be repaired, and generator-based backup systems cannot be maintained over time.
He stressed the need for professionals to explain an emergency situation to the general public in a way they will understand and trust.
Schechter, who holds a BA degree in economics and sustainability from Reichman and a master’s degree in public policy from Tel Aviv University (TAU), brings over a decade of expertise in developing national economic policies in energy, renewable energy, energy storage technologies, energy efficiency, and greenhouse gas emission reduction, and setting long-term targets for reducing greenhouse gas emissions and enhancing energy efficiency.
The Yannay Institute head noted that modern society has become very dependent on uninterrupted electricity. “Governments now understand the dangers and have tried to spread out the risk so that it isn’t concentrated in one place and among many sources. AI can help manage cascading infrastructure failures but its role is coordination, recognizing where the failures are, and setting priorities and procedures.”


















































































































































































