The weekend is here! Pour yourself a mug of Danish Blend coffee, grab a seat outside, and get ready for our longer-form weekend reads:

• What 1,000-year-old companies know about resilience: Long-lived companies show that resilience comes not from individual toughness, but from the strength of the systems around us. (Big Think)

• The $10 Billion Startup Training AI to Replace the White-Collar Workforce: Mercor is promising to replicate most professional work. It was also co-founded by twentysomethings who previously never held a real job. (Bloomberg free) see also • Mutually Automated Destruction: The Escalating Global A.I. Arms Race: The new arms race is algorithmic, not nuclear — and the guardrails are nowhere in sight. Autonomous weapons are the defining military story of the decade. (New York Times)

• Weight-loss drugs and Mars bars: Novo Nordisk’s comeback bid: The maker of Wegovy and Ozempic wants to learn lessons from consumer groups to crack the US market. After losing share to Lilly, Novo is reinventing itself — partly by partnering with the food companies whose products GLP-1s were supposed to replace. The irony is delicious. (Financial Times)

• A Pillar of the Economics Establishment Admits That It Was Wrong: The World Bank is quietly reversing decades of free-trade orthodoxy and endorsing industrial policy. A big intellectual concession with real consequences for global investing. (The Atlantic)

• The Death of the Basic American Car: The sub-$20k new car is effectively extinct. Automakers chased margins into luxury SUVs and left working Americans with no affordable option — the economic consequences are just starting to ripple out. (New York Times)

• How the Internet Broke Everyone’s Bullshit Detectors: Our cognitive defenses evolved for face-to-face lies, not algorithmic deception at scale. Wired on why even smart people are falling for dumb things in 2026. (Wired)

• How to walk through walls: On hacker mindset. Henrik Karlsson on the hacker mindset and why the most productive people treat obstacles as puzzles rather than barriers. Robert Rodriguez’s El Mariachi is the 0pposterchild for yhis mindset. (Henrik Karlsson)

• When Flock Cameras Appear: Everything You Need to Know About This Surveillance Tech: Flock Safety is setting up cameras and drones across the country. I spoke to cities and privacy advocates fighting back against the AI surveillance, including Flock and others like it. A growing number of cities are quietly ripping out the license-plate-scanning cameras that blanketed their streets. Proof that surveillance overreach eventually meets local pushback. (CNET)

• The Shocking Secrets of Madison Square Garden’s Surveillance Machine: Famously vengeful Knicks owner Jim Dolan has long spied on people at his iconic arenas. He has turned MSG into one of the most aggressive private facial-recognition operations in the country, using it to ban critics and lawyers at the door. Private-sector dystopia that most fans never see coming. (Wired)

• The Guitar Sounds New Again: Every so often a player comes along who makes the guitar sound like something it’s never been. A look at the technology and artistry behind the instrument’s latest reinvention. The grungy, extraterrestrial “Mk.gee tone” is everywhere and depends on a decades-old device. (The Atlantic) see also Mk.gee, an Unlikely Guitar God, Chases the Promise of Pop: At 27, Mk.gee is rethinking how music is made with a confidence that belies his age. He’s not just playing guitar — he’s reimagining what it can be in a pop context. (New York Times)

Be sure to check out our Masters in Business this week with Philippe Bouchaud, co‑founder, chair & head of research/chief scientist at Capital Fund Management (CFM) The $20 billion dollar fiorm specializes in managed futures). He beghan his career in theoretical physics, was awarded the IBM young scientist prize (1990) + C.N.R.S. Silver Medal (1996), and has published over 300 scientific papers and several books in physics & finance.

 

Historical data show it usually takes about 3 weeks (15 trading days) for markets to bottom after a geopolitical shock, followed by another 3-4 weeks to recover those losses

Source: Jim Reid, Deutsche Bank

 

Sign up for our reads-only mailing list here.

~~~

To learn how these reads are assembled each day, please see this.

 

The post 10 Weekend Reads appeared first on The Big Picture.

Charles Schwab To Launch Spot Bitcoin Trading For Retail Clients

Authored by Micah Zimmerman via Bitcoin Magazine,

Charles Schwab announced further details and plans in their attempt to launch direct spot bitcoin trading through its new platform, Schwab Crypto™, signaling a major step by one of the country’s largest brokerage firms into the digital asset market. 

The feature will roll out in phases over the coming weeks and will allow retail clients to buy and sell bitcoin and ethereum through existing Schwab platforms, the bank said. 

The move gives millions of Schwab clients the ability to trade bitcoin alongside traditional holdings such as stocks, ETFs, and mutual funds. Clients will access Schwab Crypto through Charles Schwab Premier Bank, SSB, which will act as custodian for the digital assets. 

Blockchain infrastructure provider Paxos will handle sub-custody and trade execution under a federally regulated trust structure.

“Clients want to conduct more of their financial lives at Schwab,” said Jonathan Craig, Head of Retail Investing.

“With Schwab Crypto, they can trade digital assets within their existing accounts while drawing on the service, research, and tools they rely on.”

At launch, Schwab Crypto will enable direct trading in bitcoin and ethereum, which together represent about three-quarters of global crypto market capitalization. 

Schwab will charge a transaction fee of 75 basis points on the dollar value of each trade, placing its pricing at the low end of the brokerage industry. Over time, the firm plans to add more cryptocurrencies and enable transfer capabilities for deposits and withdrawals.

Schwab said its platform will integrate digital assets across Schwab.com, the Schwab Mobile App, and the thinkorswim® trading suite. Clients will retain access to Schwab’s 24/7 customer service network, digital asset education through Schwab Coaching®, and research from the Schwab Center for Financial Research.

Charles Schwab is jumping into bitcoin

Joe Vietri, Head of Digital Assets at Schwab, described the launch as an extension of the firm’s broader digital strategy.

“Our goal is to be the destination of choice for retail investors who want to integrate digital assets into their portfolios with confidence,” Vietri said.

Paxos, a New York–based blockchain provider overseen by the Office of the Comptroller of the Currency, will supply the infrastructure that underpins the new trading offering. Its custody platform is already used by several global financial institutions seeking regulated access to digital assets.

Schwab already holds a strong presence in the digital asset ecosystem, with clients owning roughly 20 percent of spot crypto exchange-traded products.

The new feature expands Schwab’s reach beyond indirect crypto exposure through ETFs, mutual funds, and futures tied to cryptocurrency benchmarks.

The company’s entry into spot trading will position it alongside firms such as Coinbase, Robinhood, and Webull, which have long provided retail access to major digital currencies.

Tyler Durden Fri, 04/17/2026 - 14:40

Charles Schwab To Launch Spot Bitcoin Trading For Retail Clients

Authored by Micah Zimmerman via Bitcoin Magazine,

Charles Schwab announced further details and plans in their attempt to launch direct spot bitcoin trading through its new platform, Schwab Crypto™, signaling a major step by one of the country’s largest brokerage firms into the digital asset market. 

The feature will roll out in phases over the coming weeks and will allow retail clients to buy and sell bitcoin and ethereum through existing Schwab platforms, the bank said. 

The move gives millions of Schwab clients the ability to trade bitcoin alongside traditional holdings such as stocks, ETFs, and mutual funds. Clients will access Schwab Crypto through Charles Schwab Premier Bank, SSB, which will act as custodian for the digital assets. 

Blockchain infrastructure provider Paxos will handle sub-custody and trade execution under a federally regulated trust structure.

“Clients want to conduct more of their financial lives at Schwab,” said Jonathan Craig, Head of Retail Investing.

“With Schwab Crypto, they can trade digital assets within their existing accounts while drawing on the service, research, and tools they rely on.”

At launch, Schwab Crypto will enable direct trading in bitcoin and ethereum, which together represent about three-quarters of global crypto market capitalization. 

Schwab will charge a transaction fee of 75 basis points on the dollar value of each trade, placing its pricing at the low end of the brokerage industry. Over time, the firm plans to add more cryptocurrencies and enable transfer capabilities for deposits and withdrawals.

Schwab said its platform will integrate digital assets across Schwab.com, the Schwab Mobile App, and the thinkorswim® trading suite. Clients will retain access to Schwab’s 24/7 customer service network, digital asset education through Schwab Coaching®, and research from the Schwab Center for Financial Research.

Charles Schwab is jumping into bitcoin

Joe Vietri, Head of Digital Assets at Schwab, described the launch as an extension of the firm’s broader digital strategy.

“Our goal is to be the destination of choice for retail investors who want to integrate digital assets into their portfolios with confidence,” Vietri said.

Paxos, a New York–based blockchain provider overseen by the Office of the Comptroller of the Currency, will supply the infrastructure that underpins the new trading offering. Its custody platform is already used by several global financial institutions seeking regulated access to digital assets.

Schwab already holds a strong presence in the digital asset ecosystem, with clients owning roughly 20 percent of spot crypto exchange-traded products.

The new feature expands Schwab’s reach beyond indirect crypto exposure through ETFs, mutual funds, and futures tied to cryptocurrency benchmarks.

The company’s entry into spot trading will position it alongside firms such as Coinbase, Robinhood, and Webull, which have long provided retail access to major digital currencies.

Tyler Durden Fri, 04/17/2026 - 14:40

Record Share Of Home Sellers Cut Listing Prices In February: Report

A record share of home sellers cut their listing prices in February as competition for homebuyers necessitated steep price reductions, an April 9 report by real estate platform Redfin said.

About 34.2 percent of sellers reduced their listing prices in February, up from 31.5 percent in the same month a year earlier, according to Redfin’s analysis of MLS data.

That was the highest February share since the firm began tracking MLS records in 2012.

The sellers who cut their listing prices reduced them by an average of $40,915, said Redfin.

That amounts to a 7.3 percent cut, the highest for any February since 2023.

Final sales prices could include further reductions due to negotiations on such items as closing costs, contingency fees, and other contractual stipulations.

“Price cuts are on the rise because it’s a buyer’s market,” said Redfin data journalist Lily Katz and senior economist Yingqi Xu.

“There are hundreds of thousands more home sellers in the market than buyers because buyers have been spooked by high mortgage rates, high prices and economic uncertainty. When sellers outnumber buyers, buyers can often negotiate on price because they have a lot of options to choose from.”

As The Epoch Times' Bill Pan reports, in markets flush with new housing inventory, the number of sellers who slashed their listing prices was far more pronounced.

Nearly 60 percent of sellers in San Antonio, Texas, lowered their listing prices in February, Redfin reported, while slightly more than 55 percent of sellers in Austin, Texas, initiated price cuts, followed by Dallas (47.3 percent), Tampa, Florida (45.9 percent), and Fort Lauderdale, Florida (44.9 percent).

Homebuilding in Texas and Florida has begun to cool after years of growth and cyclical overbuilding, the National Association of Realtors (NAR) reported earlier this year. In Florida, home prices are being affected by rising insurance costs related to natural disasters, while condominium homeowner’s association fees have skyrocketed due to new safety regulations on older buildings more than three stories tall.

Conversely, sellers were far less likely to reduce prices in markets where housing inventory is limited. Just over 7 percent of sellers in San Francisco reduced their listing prices in February, with 11.1 percent of sellers in San Jose following suit. In Newark, New Jersey, about 13 percent of sellers dropped their listing prices.

Sellers who have been in their homes longer and have higher amounts of equity were less inclined to drop their sales prices, Redfin’s analysts noted.

“Many people bought during the peak of the pandemic market when home prices were soaring,” Katz and Xu wrote.

“In a lot of areas, prices have come down, meaning sellers are at risk of being underwater. Many of these sellers price high initially in an attempt to recoup their investment, only to find they must lower their expectations because the market has adjusted.”

Sales of existing homes rose by 1.7 percent in February from January to a seasonally adjusted annual rate of 4.09 million, according to the National Association of Realtors. However, sales were down by 1.4 percent year over year.

Tyler Durden Fri, 04/17/2026 - 14:20

Record Share Of Home Sellers Cut Listing Prices In February: Report

A record share of home sellers cut their listing prices in February as competition for homebuyers necessitated steep price reductions, an April 9 report by real estate platform Redfin said.

About 34.2 percent of sellers reduced their listing prices in February, up from 31.5 percent in the same month a year earlier, according to Redfin’s analysis of MLS data.

That was the highest February share since the firm began tracking MLS records in 2012.

The sellers who cut their listing prices reduced them by an average of $40,915, said Redfin.

That amounts to a 7.3 percent cut, the highest for any February since 2023.

Final sales prices could include further reductions due to negotiations on such items as closing costs, contingency fees, and other contractual stipulations.

“Price cuts are on the rise because it’s a buyer’s market,” said Redfin data journalist Lily Katz and senior economist Yingqi Xu.

“There are hundreds of thousands more home sellers in the market than buyers because buyers have been spooked by high mortgage rates, high prices and economic uncertainty. When sellers outnumber buyers, buyers can often negotiate on price because they have a lot of options to choose from.”

As The Epoch Times' Bill Pan reports, in markets flush with new housing inventory, the number of sellers who slashed their listing prices was far more pronounced.

Nearly 60 percent of sellers in San Antonio, Texas, lowered their listing prices in February, Redfin reported, while slightly more than 55 percent of sellers in Austin, Texas, initiated price cuts, followed by Dallas (47.3 percent), Tampa, Florida (45.9 percent), and Fort Lauderdale, Florida (44.9 percent).

Homebuilding in Texas and Florida has begun to cool after years of growth and cyclical overbuilding, the National Association of Realtors (NAR) reported earlier this year. In Florida, home prices are being affected by rising insurance costs related to natural disasters, while condominium homeowner’s association fees have skyrocketed due to new safety regulations on older buildings more than three stories tall.

Conversely, sellers were far less likely to reduce prices in markets where housing inventory is limited. Just over 7 percent of sellers in San Francisco reduced their listing prices in February, with 11.1 percent of sellers in San Jose following suit. In Newark, New Jersey, about 13 percent of sellers dropped their listing prices.

Sellers who have been in their homes longer and have higher amounts of equity were less inclined to drop their sales prices, Redfin’s analysts noted.

“Many people bought during the peak of the pandemic market when home prices were soaring,” Katz and Xu wrote.

“In a lot of areas, prices have come down, meaning sellers are at risk of being underwater. Many of these sellers price high initially in an attempt to recoup their investment, only to find they must lower their expectations because the market has adjusted.”

Sales of existing homes rose by 1.7 percent in February from January to a seasonally adjusted annual rate of 4.09 million, according to the National Association of Realtors. However, sales were down by 1.4 percent year over year.

Tyler Durden Fri, 04/17/2026 - 14:20

FIFA Rebukes NJ's Lefty Governor In Transportation Dispute

Authored by Luis Cornelio via Headline USA,

Leaders behind the 2026 FIFA World Cup rebuked New Jersey Gov. Mikie Sherrill after she launched what appeared to be a social media campaign complaining that the state would be stuck footing the bill for public transportation tied to the event.

The 2026 World Cup is set to span multiple days, including eight matches at New Jersey’s MetLife Stadium in June.

Estimates suggest the games could generate over $3 billion in economic impact for the region.

However, the state is expected to expand public transportation services, as has been typical for previous World Cup host sites.

The agreement between FIFA and New Jersey was signed under Sherrill’s predecessor, former Gov. Phil Murphy, a Democrat who left office in January.

“We inherited an agreement where FIFA is providing $0 for transportation to the World Cup,” Sherrill wrote on X, adding that New Jersey is expected to cover roughly $48 million in transportation costs.

“I’m not going to stick New Jersey commuters with that tab for years to come. FIFA should pay for the rides. But if they don’t – I’m not going to let New Jersey get taken for one,” she added.

FIFA pushed back, saying it was “quite surprised” by Sherrill’s remarks, as quoted by several media outlets.

“FIFA worked for years with host cities on transportation and mobility plans, including advocating for millions of dollars in federal funding to support host cities for transportation,” the organization said.

FIFA also pointed to the lack of precedent for such demands, noting that previous major events at MetLife Stadium did not require organizers to cover fan transportation costs.

FIFA have responded to this - and strongly.

“We are quite surprised by the NJ Governor’s approach today on fan transportation. The original FIFA World Cup 2026 Host City Agreements signed in 2018 required free transportation for fans to all matches. Recognizing the financial… https://t.co/ZHgGIIxo8n

— Adam Crafton (@AdamCrafton_) April 16, 2026

The dispute centers on how to move roughly 40,000 fans expected at MetLife during matches this summer.

The Sherrill administration has reportedly considered charging up to $100 per rider to transport fans from New York City to the stadium, located in East Rutherford, New Jersey, about 10 miles from Manhattan.

The logistics are complicated by the decision to prohibit parking at MetLife Stadium due to public safety concerns, forcing attendees to rely on mass transit, rideshares and chartered buses.

Tyler Durden Fri, 04/17/2026 - 14:00

FIFA Rebukes NJ's Lefty Governor In Transportation Dispute

Authored by Luis Cornelio via Headline USA,

Leaders behind the 2026 FIFA World Cup rebuked New Jersey Gov. Mikie Sherrill after she launched what appeared to be a social media campaign complaining that the state would be stuck footing the bill for public transportation tied to the event.

The 2026 World Cup is set to span multiple days, including eight matches at New Jersey’s MetLife Stadium in June.

Estimates suggest the games could generate over $3 billion in economic impact for the region.

However, the state is expected to expand public transportation services, as has been typical for previous World Cup host sites.

The agreement between FIFA and New Jersey was signed under Sherrill’s predecessor, former Gov. Phil Murphy, a Democrat who left office in January.

“We inherited an agreement where FIFA is providing $0 for transportation to the World Cup,” Sherrill wrote on X, adding that New Jersey is expected to cover roughly $48 million in transportation costs.

“I’m not going to stick New Jersey commuters with that tab for years to come. FIFA should pay for the rides. But if they don’t – I’m not going to let New Jersey get taken for one,” she added.

FIFA pushed back, saying it was “quite surprised” by Sherrill’s remarks, as quoted by several media outlets.

“FIFA worked for years with host cities on transportation and mobility plans, including advocating for millions of dollars in federal funding to support host cities for transportation,” the organization said.

FIFA also pointed to the lack of precedent for such demands, noting that previous major events at MetLife Stadium did not require organizers to cover fan transportation costs.

FIFA have responded to this - and strongly.

“We are quite surprised by the NJ Governor’s approach today on fan transportation. The original FIFA World Cup 2026 Host City Agreements signed in 2018 required free transportation for fans to all matches. Recognizing the financial… https://t.co/ZHgGIIxo8n

— Adam Crafton (@AdamCrafton_) April 16, 2026

The dispute centers on how to move roughly 40,000 fans expected at MetLife during matches this summer.

The Sherrill administration has reportedly considered charging up to $100 per rider to transport fans from New York City to the stadium, located in East Rutherford, New Jersey, about 10 miles from Manhattan.

The logistics are complicated by the decision to prohibit parking at MetLife Stadium due to public safety concerns, forcing attendees to rely on mass transit, rideshares and chartered buses.

Tyler Durden Fri, 04/17/2026 - 14:00

 

What a delightful and productive trip this was!

We met with lots of clients and spoke with families who wanted to learn how we can help them reach their goals and achieve better outcomes using all of the tools we deploy.

I hosted a few live Masters in Business interviews at the Bloomberg offices at Pier 3 (they are amazing workspaces). The keynote was my conversation with Glen Kacher, founder of the tech-focused long-short hedge fund Light Street. I’ll drop that into the MiB feed as soon as it’s ready.

The apocalyptic hellscape (LOL) that is San Francisco could not have been lovelier. The city is clean, vibrant, friendly, and in the midst of a very healthy boom.

Those people who panic sold real estate here 2-3 years ago should cancel their cable subscriptions. Those who they sold it to are grateful.

I hear the same exact things when out-of-towners visit New York. “Hey, I thought this city was supposed to be a burnt-out hulk of what it was!? Every restaurant, theater, and park is filled with happy, polite people! What gives?!?”

Don’t believe everything (anything?) you see on TV.

 

More photos below

 

The crew worked all day, then kicked back in the evening, enjoying all of the  wonderful cuisine SF has on offer:

Kris and I picking the entire left side of the menu:

 

Keto for the win:

 

Jonathan is not fooling around:

 

Michelle: Give me that!

 

San Francisco may be a tech town, but it’s a finance town as well, as this Vol Seller makes clear:

I appreciate the Oak Green color choice, too!

 

All told, our visit to the Bay Area was delightful, and we are already making plans to return before too long!

See ya real soon!

 

 

Previously:
The Evolution of Alpha (April 3, 2026)

Ritholtz Wealth Management Is Coming to San Francisco! (March 26, 2026)

RWM Coming to San Francisco April 14-16 (February 26, 2026)

RWM in San Francisco for Two Live MiB shows! (April 13, 2026)

 

The post Thank You, San Francisco! appeared first on The Big Picture.

Critical Metals Shares Surge 40% After Expanding Rare Earth Mining Position In Greenland

Critical Metals Corp. shares have surged as much as 45% in trading today after the company significantly expanded its position in Greenland’s Tanbreez rare earth project, tightening its grip on a resource it sees as central to a US-friendly supply chain, according to Bloomberg.

It marks the biggest intraday gain in half a year and lifting the company’s valuation to roughly $1.7 billion.

According to documents reviewed by Bloomberg, the firm raised its ownership to 92.5% by purchasing the remaining 50.5% stake it previously didn’t control from Rimbal Pty Ltd. The company confirmed the transaction in a statement released Friday.

With this deal, Critical Metals now holds a dominant share of Tanbreez, a deposit rich in rare earth elements such as terbium and dysprosium—materials essential for electronics and defense systems. The company describes Tanbreez as one of the largest known rare earth resources globally.

“We believe this important catalyst and hurdle now achieved helps to accelerate the approval by the Greenland government for permitting to commence mining," said Analyst Tim Moore from Clear Street. He has a $20 price target on the name and sees the increased stake as  "positive with funding matching estimates and control change being approved after previous delays", per Bloomberg. 

The acquisition comes amid a broader push by the US and its partners to lock in supplies of critical minerals and lessen dependence on China, which still leads the world in rare earth processing. Greenland, with its vast untapped reserves, has become an increasingly strategic location—though projects there remain costly and face regulatory hurdles.

Over the past year, Greenland has drawn growing attention from Washington, with renewed political and commercial interest reflecting its rising importance in global resource competition.

The island is no longer just a remote outpost—it’s becoming a focal point in the evolving economic and geopolitical relationship between Greenland and the United States.

Tyler Durden Fri, 04/17/2026 - 13:40

Critical Metals Shares Surge 40% After Expanding Rare Earth Mining Position In Greenland

Critical Metals Corp. shares have surged as much as 45% in trading today after the company significantly expanded its position in Greenland’s Tanbreez rare earth project, tightening its grip on a resource it sees as central to a US-friendly supply chain, according to Bloomberg.

It marks the biggest intraday gain in half a year and lifting the company’s valuation to roughly $1.7 billion.

According to documents reviewed by Bloomberg, the firm raised its ownership to 92.5% by purchasing the remaining 50.5% stake it previously didn’t control from Rimbal Pty Ltd. The company confirmed the transaction in a statement released Friday.

With this deal, Critical Metals now holds a dominant share of Tanbreez, a deposit rich in rare earth elements such as terbium and dysprosium—materials essential for electronics and defense systems. The company describes Tanbreez as one of the largest known rare earth resources globally.

“We believe this important catalyst and hurdle now achieved helps to accelerate the approval by the Greenland government for permitting to commence mining," said Analyst Tim Moore from Clear Street. He has a $20 price target on the name and sees the increased stake as  "positive with funding matching estimates and control change being approved after previous delays", per Bloomberg. 

The acquisition comes amid a broader push by the US and its partners to lock in supplies of critical minerals and lessen dependence on China, which still leads the world in rare earth processing. Greenland, with its vast untapped reserves, has become an increasingly strategic location—though projects there remain costly and face regulatory hurdles.

Over the past year, Greenland has drawn growing attention from Washington, with renewed political and commercial interest reflecting its rising importance in global resource competition.

The island is no longer just a remote outpost—it’s becoming a focal point in the evolving economic and geopolitical relationship between Greenland and the United States.

Tyler Durden Fri, 04/17/2026 - 13:40

Senate Votes To Repeal Biden-Era Mining Ban In Minnesota, Sending Bill To Trump

Authored by Aldgra Fredly via The Epoch Times,

The U.S. Senate narrowly voted on April 16 to overturn a 20-year mining ban imposed by the former Biden administration on a national forest in northeastern Minnesota.

The measure, which passed 50–49 and will now advance to President Donald Trump’s desk, will reverse the previous administration’s mining ban on 225,504 acres in the Superior National Forest and pave the way for Twin Metals, a subsidiary of Chile-based Antofagasta, to carry out mining activities in the area.

Rep. Pete Stauber (R-Minn.), who sponsored the legislation, said on X that he was thankful for the Senate’s decision to approve the bill. The House approved the bill on Jan. 21.

“A major victory for America and Minnesota’s 8th Congressional District was secured today,” he wrote on X.

“Mining is our past, our present, and our future – and the future looks bright!”

The Biden administration imposed an order in 2023 to block mining in the Boundary Waters Canoe Area Wilderness and the surrounding watershed located in the Superior National Forest for 20 years. But Stauber said on Jan. 12 that the former administration did not properly transmit the required notice to Congress about the ban.

The vote to overturn the ban came under the Congressional Review Act, which gives Congress the authority to review and disapprove federal actions within 60 Senate session days of the action’s submission.

The Sierra Club, which has opposed overturning the ban, said mineral mining bans had not been considered rules that are subject to the Congressional Review Act in past administrations.

“The Boundary Waters is one of the country’s most iconic wilderness areas, visited by thousands every year. It should be a place for recreation and conservation, not for pollution and exploitation,” Athan Manuel, director of the Sierra Club’s land protection program, said in a statement.

Save the Boundary Waters, a nonprofit advocacy group, said the Senate’s passage of the measure “sets a dangerous precedent for public lands nationwide.”

“We’re not done fighting. There are still paths to stop this mine,” the group said in a post on X.

If the ban is lifted, the Trump administration will be free to reissue mining leases to Twin Metals, which has been trying to develop the mine for decades on land controlled by the federal government. The mine would need to undergo an environmental review and obtain permits.

Twin Metals said in a statement to multiple news outlets that the bill’s passage marked “a critical moment” for the United States’ efforts to strengthen its mineral supply chains.

“The Twin Metals team ​looks forward to a robust discussion and engagement with our communities through any future regulatory processes,” Twin Metals spokeswoman Kathy Graul said.

Tyler Durden Fri, 04/17/2026 - 13:20

Senate Votes To Repeal Biden-Era Mining Ban In Minnesota, Sending Bill To Trump

Authored by Aldgra Fredly via The Epoch Times,

The U.S. Senate narrowly voted on April 16 to overturn a 20-year mining ban imposed by the former Biden administration on a national forest in northeastern Minnesota.

The measure, which passed 50–49 and will now advance to President Donald Trump’s desk, will reverse the previous administration’s mining ban on 225,504 acres in the Superior National Forest and pave the way for Twin Metals, a subsidiary of Chile-based Antofagasta, to carry out mining activities in the area.

Rep. Pete Stauber (R-Minn.), who sponsored the legislation, said on X that he was thankful for the Senate’s decision to approve the bill. The House approved the bill on Jan. 21.

“A major victory for America and Minnesota’s 8th Congressional District was secured today,” he wrote on X.

“Mining is our past, our present, and our future – and the future looks bright!”

The Biden administration imposed an order in 2023 to block mining in the Boundary Waters Canoe Area Wilderness and the surrounding watershed located in the Superior National Forest for 20 years. But Stauber said on Jan. 12 that the former administration did not properly transmit the required notice to Congress about the ban.

The vote to overturn the ban came under the Congressional Review Act, which gives Congress the authority to review and disapprove federal actions within 60 Senate session days of the action’s submission.

The Sierra Club, which has opposed overturning the ban, said mineral mining bans had not been considered rules that are subject to the Congressional Review Act in past administrations.

“The Boundary Waters is one of the country’s most iconic wilderness areas, visited by thousands every year. It should be a place for recreation and conservation, not for pollution and exploitation,” Athan Manuel, director of the Sierra Club’s land protection program, said in a statement.

Save the Boundary Waters, a nonprofit advocacy group, said the Senate’s passage of the measure “sets a dangerous precedent for public lands nationwide.”

“We’re not done fighting. There are still paths to stop this mine,” the group said in a post on X.

If the ban is lifted, the Trump administration will be free to reissue mining leases to Twin Metals, which has been trying to develop the mine for decades on land controlled by the federal government. The mine would need to undergo an environmental review and obtain permits.

Twin Metals said in a statement to multiple news outlets that the bill’s passage marked “a critical moment” for the United States’ efforts to strengthen its mineral supply chains.

“The Twin Metals team ​looks forward to a robust discussion and engagement with our communities through any future regulatory processes,” Twin Metals spokeswoman Kathy Graul said.

Tyler Durden Fri, 04/17/2026 - 13:20

Iran Bats Down 'Baseless' Trump Claim On Handing Over Enriched Uranium To US, As He Declares Hormuz 'Never Again' Closed Summary

• Trump Praises Iran for Fully Reopening Hormuz Chokepoint; Crude Tanks, Yields Dump, Equity Futs Up; Follows by claiming Iran will 'never again' close it; FARS soon after contradicts in fresh threat.

• Iran's Aragchi says "Strait of Hormuz is declared completely open". However, Iranian official tells FARS: "If the maritime blockade continues, it will be considered a violation of the ceasefire, & the Strait of Hormuz transit route will be closed."

• US mulls cash-for-uranium deal as 'three-page' MOU peace plan takes shape. Trump claims US will get the 'nuclear dust' - Iran official denies.

• Peace talks reportedly on Sunday in Islamabad. Trump: "Most of the main points are finalized. It’ll go pretty quickly."

Odds of a permanent peace deal by the end of the ceasefire are soaring above 50% by the end of the month...

Huge Denial by Iran

Iranian source in conversation with Al-Arabi Al-Jadeed: Trump's claim about the delivery of Iran's enriched uranium is baseless. Per the report:

• Iranian source in conversation with Al-Arabi Al-Jadeed: Only civilian ships can pass through the Strait of Hormuz, and that too through routes specified by Iran. The announcement of the temporary opening of the Strait of Hormuz has nothing to do with the current negotiations with Washington.
• We waited a few hours to make sure that a ceasefire had been established in Lebanon; then we temporarily opened the Strait of Hormuz. The announcement of the temporary opening of the Strait of Hormuz and the ceasefire in Lebanon are part of the agreement.
• Negotiations on the issues of dispute with the United States are still ongoing, but due to Washington's excessive demands, there is no clear perspective.
• Washington's demands in the negotiations remain illogical and unreasonable. The US President's claim about taking Iran's enriched uranium is baseless

The 'excessive demands' complaint is exactly the same Iranian position prior to Friday, when Trump made a series of massive claims and declarations on some kind of agreed-to and imminent final peace deal. Latest:

Iran says its enriched uranium is "as sacred to us as the soil of Iran and will not be transferred anywhere under any circumstances," adding that 60% enriched uranium will not leave the country "in any way," per Iran's Foreign Ministry via Tasnim.

And more contradiction in terms of Trump's big claims concerning a major Iran deal in the works, wherein he's insisted money won't be exchanged for the US obtaining the enriched uranium and 'nuclear dust':

The U.S. has told Tehran it would give Iran access to $20 billion if it hands over its stockpile of fissile material, officials familiar with the negotiations say. The proposal is one of the ideas on the table for resolving one of the big sticking points in talks: how to remove Iran’s access to 972 pounds of near-weapons-grade enriched uranium.

Axios reported the U.S. proposal earlier Friday. It wasn’t immediately clear whether the offer would include all of Iran’s fissile-material stockpile, which includes medium- and low-enriched uranium. Two of the officials said Iran has neither dismissed nor accepted the proposal at this point.

More Big Trump Words on Alleged Iran Deal in Works

A grand deal in the works as Trump says a second round of direct talks will likely be held this weekend? It's too hard to say what's agreed upon from the Iranian side at this point, as Trump continues issuing rapid-fire Friday statements:

Talks over a lasting agreement will “probably” be held this weekend, the president said. 
“Most of the main points are finalized. It’ll go pretty quickly,” Trump said.

The president denied that the moratorium on Iran’s nuclear program would expire after 20 years. Asked if the program will completely halt, Trump responded "No years, unlimited."

Really?...

TRUMP TELLS REUTERS WILL BRING IRAN'S URANIUM TO US

Iran Threatens to Again Close Strait: FARS

And soon on the heels of what appears to be a lot of Trump projection:

IRAN TO CLOSE STRAIT OF HORMUZ IF US BLOCKADE PERSISTS: FARS

In essence, despite the flurry of victory lap-style messages from Trump on Truth Social Friday, the ground reality remains that Iran will do what it has been doing if the US does what it has been doing - but the question will be whether each side keeps up the charade for the sake of the war not restarting, or whether this is again headed toward inevitable clash.

Iranian official to Fars:

If the maritime blockade continues, it will be considered a violation of the ceasefire, and the Strait of Hormuz transit route will be closed.

— Clash Report (@clashreport) April 17, 2026

Trump claims Iran Agrees to 'Never Close' Strait Again

The President is doing a rapid-fire Truth Social victory tour of sorts, but seems to have entered pure projection and wishful thinking territory, now claiming Tehran has "agreed to never close the Strait of Hormuz again" and that the vital oil transit waterway "will no longer be used as a weapon against the World!

Like with some other fresh assertions this morning, there's no confirmation from the Iranians, who also say the strait is 'open' - but while asserting its own terms and preconditions for vessel passage.

Still, this flurry of headlines generated in large part by Trump's 'optimistic' (to say the least) series of messages, has pushed oil significantly lower. WTI pushes lower to 79 Friday late morning... WTI has retraced 70% of the peak rise from the start of the war.

NATO 'Paper Tiger' can 'Stay Away': Trump

The President continues unleashing a series of Iran-related statements on Truth Social, in his latest once again dumping on NATO, claiming that the alliance has belatedly offered the US help in its Hormuz Strait mission, but Trump in all caps said he told them to 'stay away' unless 'they just want to load up their ships with oil.' 

He then repeated a familiar theme of his, blasting NATO as a 'Paper Tiger' for its allege weakness and lack of help with US Iran and Hormuz operations. However, from NATO and Europe's perspective, the strategic vision and scope of the mission has been constantly evolving, leaving allies confused to say the least - so this doesn't provide them with enough incentive or confidence to assist in intervening.

And he quickly followed with this highly dubious claim:

And more, now we're something like 10 or 11 Truth Social statements in and it's still just morning:

Trump Again Touts US Will Seize 'Nuclear Dust'

President Trump keeps touting that the US will seize Iran's "nuclear dust" - which he says is what has resulted from the massive bombing campaign of Iranian nuclear sites as part of Operation Epic Fury. 

But the US will get this even as "No money will exchange hands in any way, shape, or form" - in the latest Friday Truth Social post. However, none of this has been acknowledged by Iran in terms some kind of grand bargain with the US. The below appears merely another fresh threat from Trump, in order to perhaps create leverage and fear amid potential renewed talks.

Trump Responds 

Minutes after Iran's Foreign Minister Seyed Abbas posted on X that the Strait of Hormuz is "completely open", President Trump responded on Truth Social:

"IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!"

Of course, we joke, but really...

Soon to be the Strait of America pic.twitter.com/aUJ7dkusfB

— zerohedge (@zerohedge) April 17, 2026

About 20 minutes after Trump's first Truth Social post, the president fired off another, this time declaring that the "naval blockade will remain in full force." 

Trump said: 

The Strait of Hormuz is completely open and ready for business, with full passage restored.

However, the naval blockade will remain in full force and effect as it pertains to Iran only until such time as our transaction with Iran is 100% complete.

This process should move very quickly, as most of the points have already been negotiated. Thank you for your attention to this matter!

Trump: US blockade on Iran to remain in place pic.twitter.com/CvJ9iEVv9C

— zerohedge (@zerohedge) April 17, 2026

Market impact so far:

• WTI dropped 9% to $86/bbl after Iran announced the Hormuz chokepoint opening during the ceasefire

• Brent retreated to $91 a barrel

• The dollar plunged while bonds surged, with 10-year yields falling to 4.23%

• European benchmark NatGas prices also fell sharply following the announcement

• Bloomberg Dollar Spot Index erased all gains since the Iran war began

• US main equity futures are green

UBS analyst Nana Antiedu comments on "OIS markets reprice" as Hormuz reopens:

BoE and ECB pricing reacted sharply to US President Trump saying that the Strait of Hormuz is now fully open.

The GBP OIS market has now removed 11bp of hikes removed for the year, now pricing 27.5bp cumulatively.

Similarly, the 10bp of hikes have been removed for the ECB this year, now pricing 44.4bp cumulatively. For the FOMC, OIS markets reprice cumulative cuts to 15bp, down 5bp.

This chart shows market expectations for Federal Reserve interest rate changes in 2026.

Iran Opens Hormuz

In a rather shocking turn of events, Iran's Foreign Minister Seyed Abbas Aragchi posted on X that the Strait of Hormuz is open:

"In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran."

Oil crashed even lower on the report...

Are we getting close to 'Mission Accomplished'?

US Mulls $20BN Cash-For-Uranium Deal

According to two U.S. officials and two additional sources briefed on the talks, Axios' Barak Ravid reports that the US and Iran are negotiating over a three-page plan to end the war.

The three-page memorandum of understanding (MOU) the two sides are negotiating over also includes a "voluntary" moratorium on nuclear enrichment by Iran.

The U.S. demanded in the last round of talks that Iran agree to a 20-year moratorium. Iran countered with five years. The mediators are still trying to close the gap.

As part of the MOU, Iran would be allowed to have nuclear research reactors for the production of medical isotopes, but would pledge that all of its nuclear facilities would be above ground.

The existing underground facilities would remain out of commission.

Perhaps the most notable element under discussion being that the U.S. would release $20 billion in frozen Iranian funds in return for Iran giving up its stockpile of enriched uranium.

Axios adds that a top priority for the Trump admin is ensuring Iran can't access the stockpile of nearly 2,000kg of enriched uranium buried in its underground nuclear facilities, in particular the 450kg enriched to 60% purity.

The Iranians, meanwhile, need money.

The parties are negotiating over what will happen to the stockpile and how much of Iran's assets will be unfrozen. They are also discussing the terms on which Iran could use that money.

WTI Crude front-month oil futures prices are tumbling on the report, down over 11% - back near post-ceasefire lows...

President Trump said Thursday that U.S. and Iranian negotiators would likely meet this weekend for a second round of talks to try to seal the deal.

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Tyler Durden Fri, 04/17/2026 - 13:05

Iran Bats Down 'Baseless' Trump Claim On Handing Over Enriched Uranium To US, As He Declares Hormuz 'Never Again' Closed Summary

• Trump Praises Iran for Fully Reopening Hormuz Chokepoint; Crude Tanks, Yields Dump, Equity Futs Up; Follows by claiming Iran will 'never again' close it; FARS soon after contradicts in fresh threat.

• Iran's Aragchi says "Strait of Hormuz is declared completely open". However, Iranian official tells FARS: "If the maritime blockade continues, it will be considered a violation of the ceasefire, & the Strait of Hormuz transit route will be closed."

• US mulls cash-for-uranium deal as 'three-page' MOU peace plan takes shape. Trump claims US will get the 'nuclear dust' - Iran official denies.

• Peace talks reportedly on Sunday in Islamabad. Trump: "Most of the main points are finalized. It’ll go pretty quickly."

Odds of a permanent peace deal by the end of the ceasefire are soaring above 50% by the end of the month...

Huge Denial by Iran

Iranian source in conversation with Al-Arabi Al-Jadeed: Trump's claim about the delivery of Iran's enriched uranium is baseless. Per the report:

• Iranian source in conversation with Al-Arabi Al-Jadeed: Only civilian ships can pass through the Strait of Hormuz, and that too through routes specified by Iran. The announcement of the temporary opening of the Strait of Hormuz has nothing to do with the current negotiations with Washington.
• We waited a few hours to make sure that a ceasefire had been established in Lebanon; then we temporarily opened the Strait of Hormuz. The announcement of the temporary opening of the Strait of Hormuz and the ceasefire in Lebanon are part of the agreement.
• Negotiations on the issues of dispute with the United States are still ongoing, but due to Washington's excessive demands, there is no clear perspective.
• Washington's demands in the negotiations remain illogical and unreasonable. The US President's claim about taking Iran's enriched uranium is baseless

The 'excessive demands' complaint is exactly the same Iranian position prior to Friday, when Trump made a series of massive claims and declarations on some kind of agreed-to and imminent final peace deal. Latest:

Iran says its enriched uranium is "as sacred to us as the soil of Iran and will not be transferred anywhere under any circumstances," adding that 60% enriched uranium will not leave the country "in any way," per Iran's Foreign Ministry via Tasnim.

And more contradiction in terms of Trump's big claims concerning a major Iran deal in the works, wherein he's insisted money won't be exchanged for the US obtaining the enriched uranium and 'nuclear dust':

The U.S. has told Tehran it would give Iran access to $20 billion if it hands over its stockpile of fissile material, officials familiar with the negotiations say. The proposal is one of the ideas on the table for resolving one of the big sticking points in talks: how to remove Iran’s access to 972 pounds of near-weapons-grade enriched uranium.

Axios reported the U.S. proposal earlier Friday. It wasn’t immediately clear whether the offer would include all of Iran’s fissile-material stockpile, which includes medium- and low-enriched uranium. Two of the officials said Iran has neither dismissed nor accepted the proposal at this point.

More Big Trump Words on Alleged Iran Deal in Works

A grand deal in the works as Trump says a second round of direct talks will likely be held this weekend? It's too hard to say what's agreed upon from the Iranian side at this point, as Trump continues issuing rapid-fire Friday statements:

Talks over a lasting agreement will “probably” be held this weekend, the president said. 
“Most of the main points are finalized. It’ll go pretty quickly,” Trump said.

The president denied that the moratorium on Iran’s nuclear program would expire after 20 years. Asked if the program will completely halt, Trump responded "No years, unlimited."

Really?...

TRUMP TELLS REUTERS WILL BRING IRAN'S URANIUM TO US

Iran Threatens to Again Close Strait: FARS

And soon on the heels of what appears to be a lot of Trump projection:

IRAN TO CLOSE STRAIT OF HORMUZ IF US BLOCKADE PERSISTS: FARS

In essence, despite the flurry of victory lap-style messages from Trump on Truth Social Friday, the ground reality remains that Iran will do what it has been doing if the US does what it has been doing - but the question will be whether each side keeps up the charade for the sake of the war not restarting, or whether this is again headed toward inevitable clash.

Iranian official to Fars:

If the maritime blockade continues, it will be considered a violation of the ceasefire, and the Strait of Hormuz transit route will be closed.

— Clash Report (@clashreport) April 17, 2026

Trump claims Iran Agrees to 'Never Close' Strait Again

The President is doing a rapid-fire Truth Social victory tour of sorts, but seems to have entered pure projection and wishful thinking territory, now claiming Tehran has "agreed to never close the Strait of Hormuz again" and that the vital oil transit waterway "will no longer be used as a weapon against the World!

Like with some other fresh assertions this morning, there's no confirmation from the Iranians, who also say the strait is 'open' - but while asserting its own terms and preconditions for vessel passage.

Still, this flurry of headlines generated in large part by Trump's 'optimistic' (to say the least) series of messages, has pushed oil significantly lower. WTI pushes lower to 79 Friday late morning... WTI has retraced 70% of the peak rise from the start of the war.

NATO 'Paper Tiger' can 'Stay Away': Trump

The President continues unleashing a series of Iran-related statements on Truth Social, in his latest once again dumping on NATO, claiming that the alliance has belatedly offered the US help in its Hormuz Strait mission, but Trump in all caps said he told them to 'stay away' unless 'they just want to load up their ships with oil.' 

He then repeated a familiar theme of his, blasting NATO as a 'Paper Tiger' for its allege weakness and lack of help with US Iran and Hormuz operations. However, from NATO and Europe's perspective, the strategic vision and scope of the mission has been constantly evolving, leaving allies confused to say the least - so this doesn't provide them with enough incentive or confidence to assist in intervening.

And he quickly followed with this highly dubious claim:

And more, now we're something like 10 or 11 Truth Social statements in and it's still just morning:

Trump Again Touts US Will Seize 'Nuclear Dust'

President Trump keeps touting that the US will seize Iran's "nuclear dust" - which he says is what has resulted from the massive bombing campaign of Iranian nuclear sites as part of Operation Epic Fury. 

But the US will get this even as "No money will exchange hands in any way, shape, or form" - in the latest Friday Truth Social post. However, none of this has been acknowledged by Iran in terms some kind of grand bargain with the US. The below appears merely another fresh threat from Trump, in order to perhaps create leverage and fear amid potential renewed talks.

Trump Responds 

Minutes after Iran's Foreign Minister Seyed Abbas posted on X that the Strait of Hormuz is "completely open", President Trump responded on Truth Social:

"IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!"

Of course, we joke, but really...

Soon to be the Strait of America pic.twitter.com/aUJ7dkusfB

— zerohedge (@zerohedge) April 17, 2026

About 20 minutes after Trump's first Truth Social post, the president fired off another, this time declaring that the "naval blockade will remain in full force." 

Trump said: 

The Strait of Hormuz is completely open and ready for business, with full passage restored.

However, the naval blockade will remain in full force and effect as it pertains to Iran only until such time as our transaction with Iran is 100% complete.

This process should move very quickly, as most of the points have already been negotiated. Thank you for your attention to this matter!

Trump: US blockade on Iran to remain in place pic.twitter.com/CvJ9iEVv9C

— zerohedge (@zerohedge) April 17, 2026

Market impact so far:

• WTI dropped 9% to $86/bbl after Iran announced the Hormuz chokepoint opening during the ceasefire

• Brent retreated to $91 a barrel

• The dollar plunged while bonds surged, with 10-year yields falling to 4.23%

• European benchmark NatGas prices also fell sharply following the announcement

• Bloomberg Dollar Spot Index erased all gains since the Iran war began

• US main equity futures are green

UBS analyst Nana Antiedu comments on "OIS markets reprice" as Hormuz reopens:

BoE and ECB pricing reacted sharply to US President Trump saying that the Strait of Hormuz is now fully open.

The GBP OIS market has now removed 11bp of hikes removed for the year, now pricing 27.5bp cumulatively.

Similarly, the 10bp of hikes have been removed for the ECB this year, now pricing 44.4bp cumulatively. For the FOMC, OIS markets reprice cumulative cuts to 15bp, down 5bp.

This chart shows market expectations for Federal Reserve interest rate changes in 2026.

Iran Opens Hormuz

In a rather shocking turn of events, Iran's Foreign Minister Seyed Abbas Aragchi posted on X that the Strait of Hormuz is open:

"In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran."

Oil crashed even lower on the report...

Are we getting close to 'Mission Accomplished'?

US Mulls $20BN Cash-For-Uranium Deal

According to two U.S. officials and two additional sources briefed on the talks, Axios' Barak Ravid reports that the US and Iran are negotiating over a three-page plan to end the war.

The three-page memorandum of understanding (MOU) the two sides are negotiating over also includes a "voluntary" moratorium on nuclear enrichment by Iran.

The U.S. demanded in the last round of talks that Iran agree to a 20-year moratorium. Iran countered with five years. The mediators are still trying to close the gap.

As part of the MOU, Iran would be allowed to have nuclear research reactors for the production of medical isotopes, but would pledge that all of its nuclear facilities would be above ground.

The existing underground facilities would remain out of commission.

Perhaps the most notable element under discussion being that the U.S. would release $20 billion in frozen Iranian funds in return for Iran giving up its stockpile of enriched uranium.

Axios adds that a top priority for the Trump admin is ensuring Iran can't access the stockpile of nearly 2,000kg of enriched uranium buried in its underground nuclear facilities, in particular the 450kg enriched to 60% purity.

The Iranians, meanwhile, need money.

The parties are negotiating over what will happen to the stockpile and how much of Iran's assets will be unfrozen. They are also discussing the terms on which Iran could use that money.

WTI Crude front-month oil futures prices are tumbling on the report, down over 11% - back near post-ceasefire lows...

President Trump said Thursday that U.S. and Iranian negotiators would likely meet this weekend for a second round of talks to try to seal the deal.

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IQ Brain Rescue - Daily basic for ongoing brain support

Tyler Durden Fri, 04/17/2026 - 13:05

Microsoft Triples-Down On Data Centers, As Half Of Planned Projects Face Cancelations, Delays

Microsoft unveiled plans to triple its data center footprint in Cheyenne, Wyoming, snapping up roughly 3,200 acres on the city's south edge. 

The deal covers a 200-acre parcel in Bison Business Park plus an adjacent 3,000-acre tract, turning what is already one of the company's longstanding hubs into a sprawling complex. 

With 11 data centers operational and three more under construction across four campuses, the tech giant is betting big on the Cowboy State's energy resources and workforce. 

A company spokeswoman called it a "commitment to continued growth," citing the area's skilled labor, solid infrastructure, and thriving energy sector.

The land grab hit the headlines amid a far less rosy picture for the data center frenzy in the United States and beyond. Announcements keep piling up at a disturbing clip, fueled by the AI “gold rush” and hyperscaler spending projected to top $700 billion this year alone. 

Earlier this week we reported that nearly half of the roughly 16 gigawatts of U.S. data-center capacity slated to come online in 2026 will likely face delays or outright cancellation. In fact, only about 5 gigawatts have even broken ground, according to Sightline Climate's latest outlook. Supply-chain gaps, transformer shortages, and grid constraints are turning ambitious blueprints into paper tigers.

Even in Cheyenne, not everyone is popping champagne. State Senator Cale Case voiced caution about future ratepayer impacts and grid congestion, 

“It looks good on paper,” Case said.

“But what happens down the road when those supplies become constrained? So, it’s not benign, and it takes a lot of thought. I don’t think you can ever say this is not going to impact other customers.”

In the UK, OpenAI recently paused its ambitious Stargate project over prohibitive energy costs and regulatory hurdles, as we recently highlighted. Wyoming's climate and energy edge may insulate Microsoft's Cheyenne bet for now, but the global wave of cancellations suggests many shiny press releases will never pour concrete. 
 

Tyler Durden Fri, 04/17/2026 - 12:40

Microsoft Triples-Down On Data Centers, As Half Of Planned Projects Face Cancelations, Delays

Microsoft unveiled plans to triple its data center footprint in Cheyenne, Wyoming, snapping up roughly 3,200 acres on the city's south edge. 

The deal covers a 200-acre parcel in Bison Business Park plus an adjacent 3,000-acre tract, turning what is already one of the company's longstanding hubs into a sprawling complex. 

With 11 data centers operational and three more under construction across four campuses, the tech giant is betting big on the Cowboy State's energy resources and workforce. 

A company spokeswoman called it a "commitment to continued growth," citing the area's skilled labor, solid infrastructure, and thriving energy sector.

The land grab hit the headlines amid a far less rosy picture for the data center frenzy in the United States and beyond. Announcements keep piling up at a disturbing clip, fueled by the AI “gold rush” and hyperscaler spending projected to top $700 billion this year alone. 

Earlier this week we reported that nearly half of the roughly 16 gigawatts of U.S. data-center capacity slated to come online in 2026 will likely face delays or outright cancellation. In fact, only about 5 gigawatts have even broken ground, according to Sightline Climate's latest outlook. Supply-chain gaps, transformer shortages, and grid constraints are turning ambitious blueprints into paper tigers.

Even in Cheyenne, not everyone is popping champagne. State Senator Cale Case voiced caution about future ratepayer impacts and grid congestion, 

“It looks good on paper,” Case said.

“But what happens down the road when those supplies become constrained? So, it’s not benign, and it takes a lot of thought. I don’t think you can ever say this is not going to impact other customers.”

In the UK, OpenAI recently paused its ambitious Stargate project over prohibitive energy costs and regulatory hurdles, as we recently highlighted. Wyoming's climate and energy edge may insulate Microsoft's Cheyenne bet for now, but the global wave of cancellations suggests many shiny press releases will never pour concrete. 
 

Tyler Durden Fri, 04/17/2026 - 12:40

US Chemists Turn Natural Gas Into Liquid Fuel Without High Heat And Pressures

Authored by Prabhat Ranjan Mishra via Interesting Engineering,

Chemists in the United States have discovered a new way to turn natural gas into liquid fuel.

The team from Northwestern University has successfully converted methane directly into methanol in a single step. They harnessed tiny bursts of plasma — or mini “lightning bolts” — in glass tubes submerged in water.

Methanol is a versatile, high-demand industrial chemical used to make many products people use every day.Employee/Alexander/Driscoll Using pulses of high-voltage electricity

“We’re using pulses of high-voltage electricity,” said Northwestern’s Dayne Swearer, the study’s corresponding author.

“If the electrical potential is high enough, lightning bolts form inside of our reactor the way they do during a summer thunderstorm. We’re taking advantage of that chemistry to break methane’s bonds without heating the entire system to extreme temperatures.”

While the current method is reliable, it’s energy intensive and emits millions of tons of carbon dioxide per year globally. Using just electricity, water and a copper-oxide catalyst, the new process could offer a cleaner, electrified path to producing one of the world’s most widely used chemical building blocks, according to a press release.

Methanol is a versatile, high-demand industrial chemical

The team also revealed that the methanol is a versatile, high-demand industrial chemical used to make many products people use every day. It also is commonly used as an industrial solvent and is gaining attention as a cleaner-burning fuel for ships and industrial boilers.

One of the world’s most used commodity chemicals, methanol is a key ingredient in plastics, paints and adhesives. More recently, researchers have explored methanol as a promising liquid fuel because its combustion produces lower sulfur emissions and particulate pollution than gasoline and diesel, as per the release.

Industry generates methanol through a multi-step process

The team also pointed out that currently, the industry generates methanol through a multi-step process, starting with steam reforming. First, methane is reacted with steam at temperatures exceeding 800 degrees Celsius to break it into carbon monoxide and hydrogen. Then, those gases are recombined under extremely high pressures — 200 to 300 times standard atmospheric pressure — to form methanol. Tearing methane apart and rebuilding it consumes an enormous amount of heat and inherently generates carbon dioxide along the way.

“The extreme temperatures are needed to break the unreactive chemical bonds between carbon and hydrogen in methane,” Swearer said.

“Then, you must use high pressure to squeeze all those molecules together onto the catalyst in order to make the methanol molecule. It works, but it’s not the most straightforward path to making methanol from methane.”

For the new single-step process, James Ho, a Ph.D. candidate in Swearer’s lab and the study’s first author, built a plasma “bubble reactor,” which is essentially a porous glass tube coated with a copper oxide catalyst. Then, the team flowed methane gas through the tube while applying electrical pulses.

The electricity transformed the methane gas into plasma, splitting methane and water into highly reactive fragments. Those fragments then recombined to form methanol, which immediately dissolves into the surrounding water. That rapid “quenching” stopped the chemical reaction at the right moment, preventing the methane from decomposing into carbon dioxide.

“More than 99% of the observable universe is comprised of plasma,” said James Ho. “But even though it’s ubiquitous, it really is an untapped resource in the field of chemistry. The reason we use cold plasmas is because we can produce them at low temperatures and normal atmospheric pressure conditions.”

Tyler Durden Fri, 04/17/2026 - 12:20

Cybertruck Sales "Propped Up" By SpaceX Buying Spree

Bloomberg is out with a new report saying Tesla's Cybertruck sales were "propped up" in the fourth quarter by purchases from companies inside Elon Musk's business empire.

SpaceX accounted for 1,279 Cybertruck registrations, or about 18% of all U.S. Cybertruck registrations during the last quarter of 2025. The report went on to say that xAI, Boring Co., and Neuralink also purchased the stainless-steel EV during the period.

"That means almost one in every five Cybertrucks registered during the period were delivered from one part of Musk's sprawling business empire to another," Bloomberg's Dana Hull noted.

Hull added, "Without those sales to other Musk-run companies — which included xAI, Boring Co. and Neuralink, in addition to SpaceX — Cybertruck registrations in the fourth quarter would have fallen 51%."

Hull quoted Sam Fiorani, vice president of global vehicle forecasting for advisory firm AutoForecast Solutions, who said, "Tesla is running out of buyers for the Cybertruck."

Hull said the registration data was sourced from S&P Global Mobility and, in her words, suggests only that "demand for the pickup is fading just two years after launch."

Cybertruck's struggles are not unique to Tesla. In fact, electric pickups have been a major bust across the U.S. EV market. Ford recently converted its electric F-150 Lightning production lines to extended-range hybrid vehicles. And we're sure in President Trump's war economy, autos will be converting EV lines or other production lines into making weapons (read report). 

Despite the continued downturn in EVs, Cox Automotive data show the Cybertruck was still the top-selling EV truck in the U.S. in the first quarter.

High sticker price and elevated interest rates are likely major factors behind the Cybertruck's dismal sales. Bankrate data show the national average 60-month loan rate for new vehicles is still above 7%, down from 8% during the Biden years but still sharply higher than the sub-4% levels seen in 2021.

Federal subsidies for EVs have also been cut under the Trump administration's second term.

Tyler Durden Fri, 04/17/2026 - 12:00

Hochul Joins Mamdani In New York's "Eat The Rich" Movement

Authored by Jonathan Turley,

The hunt is on...

New York City Mayor Zohran Mamdani used Tax Day to announce a new fee targeting wealthy people who still linger in the city after moving their primary residences to other states.

The tax, called pied-à-terre (or “foot on the ground”) is designed to hit people who still maintain high-value properties in the city. It is a remarkably moronic effort to ensure that wealthy people cut all ties with the city. However, Gov. Kathy Hochul has yielded to the far left and joined the effort.

Mamdani, a socialist who supports the “decommodification” of private property, is seeking major tax increases, including a 10% property tax, to fund his pledges for free buses, city-run stores, and other policies.

He will need it. Mamdani not only recently admitted that he cannot fulfill his pledge for free buses this year, but that he will only build the first of five promise city-run stores next year at the cost of $30 million — almost half of what he set aside for all five promised stores.

The new measure would add a fee to existing taxes for owners of high-value properties worth more than $5 million.

Mamdani declared the new fee part of “Happy Tax Day,” which will generate $500 million more to “help fund things like free child care, cleaner streets, and safer neighborhoods.”

He is also pushing Hochul to increase taxes on the 33,000 New Yorkers earning more than $1 million annually as well as those corporations that have not left the state. Other blue states from Washington to Virginia are moving toward similar millionaire taxes.

The move is consistent with other blue states seeing the same exodus of wealthy taxpayers and businesses due to the rising budgets and tax burdens. Rather than seeking to make their states magnets for investment, California and other states are pursuing retroactive wealth taxes and so-called “Teddy Bear laws” that refuse to recognize changes of residency.

New York has used its “Teddy Bear” regulations to declare that people who fled to other states are still residents subject to taxation because of the location of their sentimental attachments in New York (like a Teddy Bear) from pets to children.

In my new book, “Rage and the Republic,” I discuss these taxes and how they are the final stage of economic atrophy for states like New York. Politicians like Hochul cannot muster the courage to face bloated budgets, excessive union pension contracts, and runaway spending. In other words, it is too difficult to create a state that draws investment and residents like so many red states. Instead, they are chasing the remaining wealthy people who still maintain contacts with the state.

The result is a form of economic Darwinism in which the herd of wealthy taxpayers is thinned further by capturing the slowest or most nostalgic individuals.

The irony is that Houhul and Mamdani are working to cut the final ties of these former residents, convincing them that they are viewed as parasites to be pursued relentlessly for more taxes.

In Rage and the Republic, I discuss these efforts as a dangerous form of “economic factionalism,” a popular tactic historically used by demagogues to curry public favor by vilifying the wealthy.

Mandani denounced those who “store their wealth in New York City real estate [and] reap the huge financial rewards” while “hurt[ing] working New Yorkers.”

This is evident in the renewed claims of figures such as Sen. Elizabeth Warren (D., Mass.), who used Tax Day to renew calls for her unconstitutional wealth tax.

Warren posted on X that “It’s time to make the ultra-wealthy pay their fair share. It’s time to pass a wealth tax.”

Socialist Vermont Sen. Bernie Sanders also made the same claim. In a Guardian op-ed, Sanders cited shocking figures claiming that Elon Musk pays a tax rate of only 3.3% while Jeff Bezos pays less than 1%.

The claim comes from the dubious source  ProPublica, which performs a statistical sleight of hand. In reality, the publication shows that figures like Jeff Bezos paid $973 million in taxes on income of $4.22 billion. That is a 23% tax burden, not less than 1%. Musk paid 30% with a $455 million tax bill.

The top 1% of taxpayers in this country paid roughly 40% of all taxes. The top 5% pays over 40% of taxes.

The Democrats are committed to economic factionalism as a strategy for the midterm elections. It is a major driver of the rage politics that many hope will allow them to regain power in November. It will come at a great cost to states like New York.

Hochul and Mamdani can hunt down the remaining wealthy taxpayers lingering in their state. In the end, it will not generate nearly as much revenue as it will cost as residents and businesses look elsewhere for position living and business environments.

The best way to improve the standard of living in these states is to improve their economies and tax bases. Instead, blue states like California and New York are raising costs across the board, including through pushes for a $ 30-per-hour minimum wage. In California, the massive increases in the minimum wage have already resulted in substantial job losses and business closures.

It is unlikely that many wealthy individuals will stick around to experience what Mayor Mamdani calls “the warmth of collectivism.” Instead, it will be average New Yorkers who are burned by his “eat the rich” policies.

Jonathan Turley is a law professor and the best-selling author of “Rage and the Republic: The Unfinished Story of the American Revolution.”

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Tyler Durden Fri, 04/17/2026 - 11:40

Kamikaze Drone Maker Raises $320 Million In U.S. IPO As 'War Unicorns' Rise

The rise of "war unicorns" will be an impressive development to watch over the next several years, as we've diligently laid out for readers for months, well before the U.S.-Iran conflict, how a massive government push and in capital markets would begin to prioritize the next generation of defense-tech firms rather than big, bloated legacy defense contractors.

Aevex, a military drone maker backed by Madison Dearborn Partners, is the latest example of capital markets getting excited about war unicorns, with the company selling 16 million shares at $20 each in an IPO, with shares expected to begin trading on Friday. The deal was reportedly oversubscribed multiple times, according to Bloomberg sources.

Aevex is a direct public-market play on low-cost kamikaze drones, with a sizable portion of last year's revenue linked to Ukraine. It has two unmanned systems programs, Phoenix Ghost and EUCOM AOR Deep Strike, that have delivered or committed to deliver more than 9,300 units, representing about $1.2 billion in contract value through the end of this year.

The war unicorn is positioned to benefit from the Department of War's massive shift toward startups that can produce advanced weapons at a fraction of the cost and on a faster timeline than the large primes, such as Lockheed and Boeing. There is also a major shift within the DoW toward low-cost advanced weapons systems, such as drones and AI kill chains.

Aevex sees demand for unmanned systems expanding to $11 billion in the U.S. and $26 billion globally by 2030.

Bloomberg noted that Aevex posted a net loss of $16.9 million on $432.9 million in revenue in 2025, compared with net income of $78.5 million on $392.2 million in revenue a year earlier.

Aevex's public debut is only the beginning of war unicorns tapping public markets. We've outlined how the DoW's procurement process has been reset to favor startups. The DoW is also setting up a 30-person investment banking team called the "Economic Defense Unit" to deploy $200 billion in private equity over three years to fund these unicorns.

Follow the money: President Trump's war economy is being spun up ...

• War Economy Returns: From Trucks To Tanks, Pentagon Looks To Automakers To Rebuild America's Arsenal

What comes next, particularly in the U.S. market, is a rapid push to harden the airspace over critical infrastructure, data centers, and other high-value assets, because there is an alarming gap in the low-cost air defense layer against FPVs. Lessons from conflict areas across Eurasia are being learned at hyperspeed. 

Tyler Durden Fri, 04/17/2026 - 11:20