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  • Judge Rejects RICO Claims in Lawsuit Over Pastor-Led Crypto Ponzi Scheme

    Judge Rejects RICO Claims in Lawsuit Over Pastor-Led Crypto Ponzi Scheme

    In brief

    • RICO claims in a class-action lawsuit against a pastor were rejected by a federal judge.
    • The pastor in question, Eddy Alexandre, pleaded guilty to commodities fraud in 2023.
    • Last year, the CFTC secured a nearly $229 million penalty against him and his company.

    A federal judge in New York rejected RICO claims underpinning a class-action lawsuit against a pastor and alleged associates on Thursday, finding that investors in what authorities have called a crypto Ponzi scheme could not move forward with efforts to pursue damages.

    U.S. District Judge Ronnie Abrams found that a provision included in the Private Securities Litigation Reform Act of 1995 was grounds for tossing out the lawsuit because its claims were formed on “predicate acts of securities fraud” that weren’t actionable. In civil matters, RICO allows people to sue parties involved in racketeering activity like fraud or extortion.

    However, Abrams noted that the people who say they were bilked out of money by a pastor affiliated with the Seventh Day Adventist Church have 30 days to file an amended complaint.

    The lawsuit, brought in May, sought at least $750 million in damages in connection to losses that investors sustained in connection to a scheme crafted by EminiFX founder and former CEO Eddy Alexandre, who pleaded guilty to commodities fraud in 2023.

    EminiFX billed itself as a trading platform for digital assets and foreign currencies. Prosecutors said that Alexandre raised $248 million from more than 25,000 people, promising that the platform could “double their money within five months” through secret technology. 

    Prosecutors said that Alexandre didn’t invest a substantial portion of the funds he raised from members of his church and the Haitian community, while also failing to disclose millions of dollars in losses on allocations that he did make before his arrest nearly four years ago.

    What’s more, authorities said that Alexandre diverted $14.7 million in investor funds to his personal bank account. He later purchased a $155,000 BMW, they said.

    At the time of Alexandre’s sentencing, the pastor was ordered to forfeit $248.9 million and pay $213 million in restitution. According to the Bureau of Prisons’ website, he is currently being held at a low-security correctional institution in Pennsylvania.

    Last year, a different federal judge in New York ordered Alexandre and his company to pay nearly $229 million in connection to an enforcement action brought by the CFTC. Alexandre represented himself in the case.

    Religious figures allegedly abusing positions of trust isn’t unheard of when it comes to crypto. In September, a Colorado judge found that pastor Eli Regalado violated securities laws while raising money for a failed crypto project that god supposedly told him to create.

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  • Tom Lee’s BitMine Buys $10.2 Million in ETH Directly From Ethereum Foundation

    Tom Lee’s BitMine Buys $10.2 Million in ETH Directly From Ethereum Foundation

    The Ethereum Foundation has made another ETH sale directly to a publicly traded treasury company, announcing Saturday that it sold some of its own treasury to Tom Lee’s BitMine Immersion Technologies.

    According to an X post, the Foundation sold 5,000 ETH to BitMine at an average price of $2,042.96 per coin, or just over $10.2 million worth of the second-largest cryptocurrency.

    “This sale funds the [Ethereum Foundation’s] core operations & activities, including protocol R&D, ecosystem development, community grant funding and more,” the Foundation posted, adding that it was part of its “ongoing treasury management activities.”

    As of last Monday, BitMine said that it held 4,534,563 ETH, making it the largest Ethereum treasury firm with holdings valued around $9.41 billion based on ETH’s recent trading price of $2,076.

    This is the second time that the Ethereum Foundation has sold part of its holdings to an Ethereum treasury firm, following last July’s sale of 10,000 ETH—then valued around $30 million—to Sharplink, currently the second-largest ETH treasury with about $1.75 billion worth of the asset.

    The price of Ethereum has fallen dramatically over the past several months, alongside most other top coins, dropping by 58% since hitting a peak of $4,946 last August.

    As a result, BitMine and other Ethereum treasury firms—which started accumulating ETH near its peak price last year—are down substantially on their investments, at least on paper. BitMine has an unrealized loss in the ballpark of $7.5 billion, based on its average purchase price for ETH through last November (per an SEC filing) and estimates for purchases since then.

    Despite that immense paper loss, BitMine and Chairman Tom Lee have continued to purchase ETH and remain bullish on its prospects.

    “Ethereum prices showed resilience this week, in the face of rising war concerns and surging oil prices,” said Lee last Monday, in a statement accompanying the firm’s latest weekly purchase announcement. “We continue to believe that crypto prices are in the late/final stages of the ‘mini-crypto winter.’”

    Ethereum is up 5% over the last week and 9% in the last 30 days, per data from CoinGecko. Even with the modest recent rise, users on Myriad—a prediction market platform operated by Decrypt‘s parent company, Dastan—remain bearish on ETH’s short-term prospects, penciling in a 63% chance that Ethereum’s next stop is more likely to be $1,500 rather than $3,000.

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  • Top Trump adviser says Iran war price tag at $12bn so far

    Top Trump adviser says Iran war price tag at $12bn so far

    Pressure grows on the US president’s administration as war costs spiral and the mission’s endgame remains unclear.

    The United States has spent $12bn on its war against Iran since launching joint strikes on the country with Israel on February 28, Trump’s top economic adviser said, as domestic concerns grow over the Middle East conflict’s burgeoning economic impacts.

    Kevin Hassett, director of the White House National Economic Council, gave the figure on CBS’s Face the Nation on Sunday saying it is the latest he’s been briefed on so far.

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    He was forced to clarify mid-interview after initially appearing to present it as a projected total for the entire war. CBS anchor Margaret Brennan noted more than $5bn in munitions alone was spent in the first week, a challenge Hassett did not directly address.

    Hassett was nonetheless dismissive of the war’s economic threat to the US. Financial markets pricing future energy contracts, he said, were already anticipating a swift resolution and sharply lower energy prices, contradicting consumer alarm in the US over rising fuel costs at petrol stations.

    Markets remain jittery after Iranian threats to the Strait of Hormuz, through which about 20 percent of the world’s oil supplies traverse.

    Any disruption to Gulf shipping, he argued, would hurt countries dependent on the region’s oil far more than the US.

    “America is not going to have its economy harmed by what the Iranians are doing,” he said, adding that unlike the 1970s, the US is now a major producer. “We have lots and lots of oil.”

    ‘Mission creep’

    Secretary of Defense Pete Hegseth, meanwhile, warned that the bombardment of Iran is “about to surge dramatically”, suggesting the bill is heading in one direction only.

    The cost confusion sits alongside the deepening uncertainty about the war’s purpose.

    The Trump administration’s statements on the goals of the war have shifted from dismantling Iran’s nuclear programme, to degrading its missiles, to now threatening its oil infrastructure over Strait of Hormuz shipping.

    After a classified Senate briefing in early March, Senate Minority Leader Chuck Schumer said he was “truly worried about mission creep”, calling the session “very unsatisfying” and saying that the administration gave “different answers every day” on why the strikes were ordered.

    Last week, Senator Chris Van Hollen told Al Jazeera that the US had taken “the lid off Pandora’s box without any idea where this will land”.

    At least 1,444 people have been killed in Iran since strikes began on February 28. Thirteen US soldiers have been killed, and more than 140 have been wounded. The fighting has also spread to Lebanon, and Gulf countries continue to face repeated drone and strikes by Iran.

    Some countries, such as India, have begun bypassing Washington to negotiate directly with Tehran on securing safe passage for its tankers through the Strait of Hormuz.

  • Conan O’Brien Ends Oscars by Shouting ‘We Love You Martin Short!’ After Death of Comedian’s Daughter

    Conan O’Brien Ends Oscars by Shouting ‘We Love You Martin Short!’ After Death of Comedian’s Daughter

    Conan O’Brien wrapped up this year’s Oscars with a word of support to his pal Martin Short: “We Love You Martin Short!” he shouted from the Dolby Theatre stage as he signed off the telecast.

    Short postponed his comedy tour with Steve Martin following the death of his daughter Katherine Short, who died last month at the age of 42 from a self-inflicted gunshot wound.

    After his daughter’s death, Short and Martin postponed upcoming dates for their “The Best of Steve Martin & Martin Short.” It’s unclear when the tour will resume, although dates starting in April are listed on Martin’s website.

    “It is with profound grief that we confirm the passing of Katherine Hartley Short,” Martin Short’s rep said last month in a statement. “The Short family is devastated by this loss, and asks for privacy at this time. Katherine was beloved by all and will be remembered for the light and joy she brought into the world.”

    Short also recently suffered the loss of his “SCTV” co-star Catherine O’Hara, who died in January.

    Short has been a frequent guest of O’Brien’s through the years, including on O’Brien’s “Conan O’Brien Needs a Friend” podcast. Here’s an episode from eight months ago:

    And he’s a time Short appeared on “Late Night With Conan O’Brien” in 2002:

    This repped the second year that O’Brien hosted the Oscars, which aired live Sunday night on ABC and Hulu. O’Brien opened the show by taking aim Hollywood figures including Timothée Chalamet, Ted Sarandos and more.

    O’Brien also got serious at a point, noting that “tonight is an international event. If I can be serious for just a moment, everyone watching right now around the world is all too aware that these are very chaotic, frightening times. It’s at moments like these that I believe the Oscars are particularly resonant. 31 countries across six continents are represented this evening. And every film we salute is the product of thousands of people speaking different languages, working hard to make something of beauty. We pay tribute tonight not just to film but to the ideals of global artistry, collaboration, patience, resilience, and that rarest of qualities today, optimism.”

    O’Brien opened the show with a pre-taped segment where he was made up as Amy Madigan’s Aunt Gladys from “Weapons,” and then ended the show with another pre-taped segment, in which he was offered the gig of hosting the Oscars “for life” — but then was sent to a nondescript office where he was poisoned with gas and then cremated, just like Sean Penn’s character in “One Battle After Another.”

  • Hwang Dong-hyuk on Burying ‘Squid Game’ for a Decade, Korea’s Global Rise and What He Owes Hong Kong Cinema at Asian Film Awards Masterclass

    Hwang Dong-hyuk on Burying ‘Squid Game’ for a Decade, Korea’s Global Rise and What He Owes Hong Kong Cinema at Asian Film Awards Masterclass

    The best feedback Hwang Dong-hyuk received when he first pitched “Squid Game” in 2009 was someone asking him how he could possibly have come up with something so absurd. “That was the most positive response I got,” he told a packed house Sunday at the Xiqu Centre, Hong Kong, where he opened the Asian Film Awards‘ day of masterclasses.

    Hwang traced the origins of the series to a period of acute personal hardship. His first feature had failed commercially, a second project had fallen apart before production, and he was selling household furniture to cover living expenses. He spent much of his time in manga cafes, reading survival game comics in which protagonists gambled their lives for large sums of money. He wondered whether he could make something similar but distinctly Korean in character. Where most survival narratives featured protagonists with superhuman abilities, he wanted to tell a story about entirely ordinary people playing the simplest games imaginable – the kind any child had grown up playing, requiring no special skills or genius, only the will to keep going.

    After a year of fruitless meetings with investors and actors who universally dismissed the project, Hwang made the decision to bury the script in his computer and wait. He made three more feature films in the intervening decade. When he returned to the idea in 2018 and reread the script, he said, he felt an immediate conviction that the time had come. “By 2019, the world had somehow come to look more like ‘Squid Game’ than it did when I first wrote it,” he said. Competition had intensified, the wealth gap had widened, and the economic pressures and social tensions he had imagined as extreme had come to feel entirely plausible. “People’s lives had become harder,” he said. “The story no longer seemed so far-fetched.”

    The arrival of Netflix Korea was the final piece. Hwang had always believed the premise would resonate more easily outside Korea than within it – the survival game genre had never been commercially popular at home – and Netflix offered immediate access to a global audience. He also found the series format liberating. His original screenplay was a two-hour film in which the games crowded out nearly everything else. Expanding to eight hours allowed him to develop the backstories of characters like Sang-woo and Sae-byeok, and – crucially – to create the figure of Oh Il-nam, Player 001, the elderly man who turns out to be the architect of the games. “That character didn’t exist in the film version,” Hwang said. “The series gave me the space to build him, and with him the entire emotional logic of the final episode.”

    Several games were also redesigned for international audiences. Some of the original choices had rules too culturally specific to be immediately comprehensible to viewers outside Korea. The replacements – marbles, the honeycomb candy carving game, the ddakji tile-flipping game – were chosen because any viewer anywhere could understand them within seconds. The giant doll in the Red Light, Green Light sequence, which became one of the series’ most iconic images, was designed with a deliberate choice. Rather than something conventionally threatening, Hwang drew on the image of a girl character named Young-hee, familiar to every Korean child from first-grade textbooks. “We wanted something cute,” he said. “I genuinely did not think people would find it frightening. Their reaction surprised me.”

    The production design of the series reflected a philosophical choice rooted in Oh Il-nam’s psychology. Where most survival narratives set their action in dark, oppressive spaces, “Squid Game” used pastel colors and the aesthetic of a children’s play cafe. Hwang explained that Oh Il-nam built the games to recapture childhood joy – his own and others’ – and that the spaces he designed would therefore be cheerful and colorful, not menacing. The horror, Hwang said, came from what happened within those cheerful spaces, and the contrast made it more devastating.

    On the series’ central theme, Hwang said the world of “Squid Game” is one in which people in a hyper-competitive society are conditioned to see those beside them as rivals rather than allies – while the people who actually designed the system watch from above and profit from it. He said he wanted the series to ask whether it was possible for people to recognize that their real adversaries were not their neighbors but those further up, and whether some form of collective response might be imaginable. He stopped short of prescribing an answer but said the question felt urgent.

    The session also ranged across Hwang’s broader career. He studied journalism at university – his father, who died when Hwang was young, had been a journalist – but grew disillusioned after participating in the pro-democracy student movements of the early 1990s and finding that the Korean press was too conservative and pro-government to do the investigative work he had hoped it would. He began watching two or three films a day in a lost period after abandoning his journalism ambitions, and eventually went to study film at the University of Southern California. He recalled his first class there, in which the professor asked students successively how many expected to direct one feature film after graduating, then two, then three – and concluded that statistically, not one person in the room would likely make even one. “Looking back,” Hwang said, “the only person from that class who became a feature film director was me.”

    His USC graduation short, “Miracle Mile” – about a sibling who travels to the United States to find a brother who had been adopted away, carrying a dying parent’s apology – led directly to his first feature, “My Father,” after a Korean producer saw the short and reached out. The story drew on a memory from his own life: a paternal aunt who had been given up for adoption to America when his family was too poor to keep her, and who returned to find her birth family when Hwang was around 19.

    He described the production of “Silenced” – based on the real-life sexual and physical abuse of students at a school for deaf children in Gwangju – as one of the most grueling experiences of his career. He initially turned the project down, he said, but reconsidered after researching the case and concluding that a film might be the last chance to return it to public consciousness. He deliberately chose to make it as a work of narrative cinema – emotionally immersive rather than documentary in approach – on the conviction that audiences needed to care about the characters before they could feel the full force of the injustice. The film’s release led to real-world legal changes. But the psychological cost was severe. “I lost weight, I developed insomnia, I was in a bad way,” he said.

    “Miss Granny,” the broad intergenerational comedy he made next – about a grandmother who is magically transformed into her younger self – was a direct reaction to that ordeal. It was also, Hwang said, a personal tribute to his mother and grandmother, who had raised him after his father’s early death. He said he had wanted to make a film that three generations of a family could sit down and watch together, each finding something to recognize in it. The film went on to be one of the top three highest-grossing Korean films of its year and spawned remakes across Asia, including versions in China, Vietnam and India. Hwang said he had been struck, while watching the various adaptations, by how each country’s version drew on its own era of popular music and its own cultural textures – the Indian remake especially, with its Bollywood-style musical sequences.

    Closing the session, Hwang reflected on his affection for Hong Kong cinema, which he credited as a defining influence on his generation of Korean filmmakers. He watched Chow Yun-fat’s “A Better Tomorrow” ten times, he said, and when he was seriously studying film as a craft, it was Wong Kar-wai’s “Chungking Express” and “Days of Being Wild” that made the deepest impression. He expressed sadness that Hong Kong cinema had largely disappeared from Korean screens, saying that “Infernal Affairs” was the last Hong Kong film he had seen theatrically and that he had had little opportunity to follow the industry since.

    On the question of how Korean content had come to dominate global popular culture, Hwang offered a structural rather than a mystical answer. Korea’s entire postwar economic development, he said, was built on an export mentality – the country had nothing and built everything by manufacturing and selling abroad. That orientation had transferred to the cultural industries over time, with filmmakers, musicians and drama producers gradually becoming more attuned to international audiences alongside domestic ones. He said he did not believe the phenomenon had happened quickly but was the accumulated result of a long habit of thinking outward – and that he himself had had that global audience in mind when he decided to take “Squid Game” to Netflix.

    His advice to the aspiring filmmakers in the room was unsentimental. Film technique, he said, can be learned quickly – his own MFA program at USC deliberately avoided admitting film majors, preferring students from other disciplines who already had something to say. The hard part is not learning to use a camera but knowing what story you need to tell. He urged young filmmakers to read, travel, make friends and accumulate experience rather than focusing narrowly on technical skills – and to be honest with themselves about whether they were truly prepared for a path that offers no stability and demands the willingness to risk everything.

  • Crypto Market Review: Where Did XRP’s Volatility Go? Bitcoin (BTC) $72,000 Break Is Not What You Think It Is, Did Shiba Inu (SHIB) Reach Top? Price Below $0.000006

    Crypto Market Review: Where Did XRP’s Volatility Go? Bitcoin (BTC) $72,000 Break Is Not What You Think It Is, Did Shiba Inu (SHIB) Reach Top? Price Below $0.000006

    The recent price movement of most assets on the market exists with almost no volatility. Momentum has disappeared, as assets are currently trading in a tight consolidation range near local resistances after months of violent swings and abrupt directional changes.

    After a protracted downtrend that started after its peak above $3 earlier in the cycle, the larger chart structure shows $XRP stabilizing. Price has been progressively forming higher lows along an ascending support line since the dramatic decline in early February, indicating that sellers are losing some of their dominance.

    $XRP‘s volatility compression

    But the compression in volatility is what really sticks out. In contrast to the sharp swings observed earlier in the year, $XRP has been trading within an ever-tinier price range, with daily candles drastically contracting. When the market reaches a brief equilibrium between buyers and sellers, this kind of volatility collapse frequently takes place.

    Technically speaking, $XRP is still below a number of important moving averages, such as the 26-day and 50-day exponential moving averages, which continue to serve as resistance levels. The asset has made several attempts to recover these indicators, but it has not been able to generate enough momentum to maintain a breakout thus far.

    Article image

    Usually, this lack of volatility indicates that there is growing pressure on the market to make a bigger move. Traders frequently wait for a catalyst before making a directional move when the price compresses beneath resistance while maintaining higher lows. This phenomenon is known as a coiling effect.

    Thus, the ascending support structure that is currently developing around the $1.35-$1.40 area is crucial. The market may eventually witness a breakout attempt toward $1.50 and possibly $1.70, where the next significant resistance zone is located, if $XRP keeps honoring this support while moving closer to the moving averages above.

    However, downward movements can also be preceded by volatility compression. The asset may return to the $1.20-$1.30 range, where earlier buyers intervened, if $XRP is unable to overcome overhead resistance and instead loses its ascending support structure.

    Bitcoin’s breakout is irrelevant

    Although Bitcoin has managed to move slightly above the $72,000 mark, the move might not be as positive as it first seems. The breakout currently lacks volume and volatility, two crucial components that usually indicate strong market momentum, despite the psychological significance of regaining this price zone.

    After recovering from the severe correction that drove prices into the mid-$60,000 range earlier this year, Bitcoin is currently essentially stuck in the $72,000 range, moving sideways. In contrast to earlier breakout attempts, trading activity has remained muted during the recent push above resistance, which took place in comparatively calm market conditions.

    Article image

    After the February sell-off, a rising support structure developed for Bitcoin, which has since recovered technically. Bitcoin is currently testing from below the 26-day EMA, one of the asset’s short-term moving averages, thanks to this rebound.

    The larger technical framework is still brittle, though. The current move’s flaw is that the market as a whole does not support it. Traditionally, a spike in trading volume and increasing volatility have coincided with Bitcoin breakouts above significant psychological levels. These indicators show that traders are actively taking part in the move and that fresh capital is entering the market.

    Right now, that is not taking place. Rather, the price action indicates that, in the absence of significant participation, Bitcoin is drifting slightly higher. Breakouts frequently fail to maintain momentum and can swiftly reverse when they happen in low-volume environments.

    Rest of market is weaker

    The rest of the market usually rises when there is a significant Bitcoin breakout. The fact that many altcoins are still weak and trading below significant resistance levels, however, indicates that the broader ecosystem is not supporting the current BTC move.

    The move above $72,000 might be more of a technical bounce than a real breakout, according to this divergence. For investors, whether Bitcoin can increase market participation will probably determine the next stage. A discernible rise in trading activity and volatility would be necessary for a sustained move higher.

    Shiba Inu’s difficulties

    As the asset falls below the $0.000006 level, Shiba Inu is once again finding it difficult to sustain its upward momentum, raising concerns about whether the most recent attempt at recovery has already lost steam. Investors are wary of the prospect of a significant recovery because $SHIB‘s overall market structure continues to indicate a weak trend, despite a few brief rallies in recent weeks.

    Shiba Inu is currently trading at about $0.0000058 and is still in a protracted downtrend that has lasted for several months. A classic sign that sellers still control the market is the chart’s steady pattern of lower highs and lower lows. Even when $SHIB makes an effort to rebound, the rallies usually end abruptly when the price gets close to resistance levels.

    The situation is still unfavorable technically. The 26-day and 50-day exponential moving averages, which serve as dynamic resistance zones above the current price, are still below $SHIB. The asset has been unable to establish a sustained bullish structure because these moving averages have consistently rejected attempts at recovery.

    The same pattern can be seen in the most recent price movement. After rising from its recent lows, $SHIB momentarily formed a small consolidation triangle, but the breakout lacked enough momentum to move the asset toward stronger resistance zones. Rather, the price quickly resumed its sideways movement after stalling close to the $0.000006 range.

    This kind of behavior frequently indicates fatigue rather than accumulation. A market may not be entering with sufficient strength to buck the current trend if it consistently fails to recover important resistance levels.

    The lack of wider market support is another issue that worries investors. Major cryptocurrencies like Bitcoin have been able to stabilize following recent volatility, but many altcoins like $SHIB are still having trouble gaining traction.

    As of right now, the price staying below $0.000006 indicates that Shiba Inu may have already reached its peak in the current cycle. Investors should exercise caution when anticipating a sustained recovery in the near future unless buyers return with noticeably greater momentum.

  • Bitcoin Advances as Oil Jumps Toward $100 on Further Middle East Strikes

    Bitcoin Advances as Oil Jumps Toward $100 on Further Middle East Strikes

    Bitcoin rose over the weekend as escalating tensions in the Middle East pushed oil prices sharply higher, prompting investors to assess the potential spillover into global markets.

    The world’s largest crypto traded at about $72,950 on Sunday, up roughly 2.5% over the past 24 hours, according to CoinGecko data.

    The move came after a volatile weekend that saw Bitcoin briefly dip toward $70,500 before rebounding as traders digested the latest geopolitical developments.

    With oil markets now focused on the risk of disruptions to energy flows through the Strait of Hormuz, traders across asset classes are watching closely for signs that the conflict could widen and spill into broader financial markets.

    Crude oil jumped roughly 3% on Sunday night, climbing to around $100 a barrel, and marking its highest level since July 2022, as the conflict involving Iran entered its third week following U.S. strikes on military facilities on Kharg Island, a key hub for the country’s oil exports.

    In a post on Truth Social on Saturday, President Donald Trump said U.S. Central Command had conducted “one of the most powerful bombing raids in the history of the Middle East,” targeting military sites on the island.

    Trump said the U.S. had deliberately avoided striking Iran’s oil infrastructure but warned that the decision could change if Iran interferes with shipping through the Strait of Hormuz, a narrow corridor that carries roughly one-fifth of the world’s oil supply.

    Kharg Island handles about 90% of Iran’s oil exports, making it one of the most strategically sensitive pieces of energy infrastructure in the region.

    The price of oil matters for Bitcoin. Higher energy prices and subsequent inflationary spikes complicate the Federal Reserve’s path to further rate cuts, prolonging a higher-for-longer regime and a tightening of global liquidity.

    While developments in Iran have rattled commodity markets, the conflict has largely left broader risk assets relatively steady as of late Sunday evening.

    U.S. equity futures edged higher, with Dow Jones futures rising 0.15%, S&P 500 futures gaining 0.15%, and Nasdaq-100 futures up 0.14% to 24,640.

    Bitcoin’s weekend price action reflected the uncertainty, though its performance since the war began on February 28 has remained resilient, with analysts pointing to a crypto-specific demand rather than a broader macro decoupling.

    Prices briefly climbed above $73,475 late Friday before retreating after the initial headlines around the strikes. The crypto then stabilized through Saturday and Sunday, gradually recovering back above $72,000.

    The rebound suggests crypto traders are weighing geopolitical risks against continued demand for digital assets, though others have warned that further harm to the global economy could result if the war persists.

  • SAG-AFTRA and Studios Fail to Reach Deal, Negotiations to Continue Later in Spring

    SAG-AFTRA and Studios Fail to Reach Deal, Negotiations to Continue Later in Spring

    Hollywood’s waiting game isn’t over yet as SAG-AFTRA and studios failed to reach a deal on Sunday, the final day of their primary negotiations period.

    The negotiations over the union’s next three-year deal covering film and TV work are now set to continue later this spring ahead of the contract’s June 30 expiration. SAG-AFTRA had previously scheduled this backup period for additional talks in case their first didn’t yield an agreement.

    The announcement arrived on Sunday just after the 98th annual Academy Awards concluded and before the Writers Guild of America enters its own negotiations with the AMPTP on Monday. SAG-AFTRA was the first major union to head into bargaining with the Alliance of Motion Picture and Television Producers (AMPTP) in 2026.

    During the last bargaining cycle, the union and the WGA each waged a strike for more than 100 days, crippling the industry as the unions sought to improve compensation in the streaming era and institute protections against generative AI.

    “SAG-AFTRA and the AMPTP completed productive bargaining sessions, including going several days beyond what was originally planned.  While we will continue ongoing conversations, formal negotiations will resume later this spring as planned, before the current contract expires June 30,” SAG-AFTRA and the AMPTP said in a joint statement on Sunday.

    The performers’ union began its negotiations on Feb. 9 under the leadership of national executive director Duncan Crabtree-Ireland. New AMPTP president Gregory Hessinger led talks for the studios and streamers. On March 6, the parties announced that they had agreed to extend contract negotiations one week more than originally planned.

    As a sprawling labor group representing principal performers, background actors, dancers and singers among others, SAG-AFTRA has a broad range of priorities at the bargaining table this year. One of its top issues is generative AI, which has rapidly evolved in the three years since SAG-AFTRA negotiated its initial contract language covering the technology. Crabtree-Ireland has already said that he wants to make performers generated by AI as expensive as humans.

    Another major concern is boosting income for members. “People need their wages; they’re having a hard time qualifying for health care. They need cost-of-living, inflation [adjustments]. People need to make more money,” union president Sean Astin previously told THR.

  • FBI Investigating After Malware Found Lurking in Steam PC Games

    FBI Investigating After Malware Found Lurking in Steam PC Games

    In brief

    • The FBI is investigating after several PC games on the Steam platform were found to contain malware.
    • Some titles appeared to function as normal games, but installed malicious software on players’ computers.
    • Similar malware campaigns have targeted gamers through fan games and cheat software.

    The FBI is investigating the distribution of malware through several video games hosted on Steam, the popular PC gaming platform operated by Valve.

    The agency said Friday it is seeking victims whose computers may have been infected after downloading games believed to contain malicious software.

    “The FBI believes the threat actor primarily targeted users between the timeframe of May 2024 and January 2026,” the agency wrote.

    The FBI’s investigation is targeting several PC games, including BlockBlasters, Chemia, Dashverse, DashFPS, Lampy, Lunara, PirateFi, and Tokenova.

    Last summer, several games, including Chemia and PirateFi, were removed by Steam after they were discovered to include malware.

    Steam is one of the largest digital distribution platforms for PC games. In 2025, Steam reached over 132 million monthly active users with over 117,000 games. While the infected titles appeared to be games and were approved for sale on the platform, the FBI says they instead installed malware on players’ computers.

    The FBI is seeking information from gamers who may have been affected by the malware.

    “The FBI is legally mandated to identify victims of federal crimes it investigates,” an FBI spokesperson told Decrypt. “Victims may be eligible for certain services, restitution, and rights under federal and/or state law. All identities of victims will be kept confidential,” they said, adding that the agency is unable to provide specific details.

    Decrypt reached out to Valve for comment on the investigation, but did not immediately receive a response.

    Malware targeting gamers has appeared in both game downloads and third-party tools linked to popular titles.

    Back in 2023, a fan game based on Nintendo’s Super Mario franchise was found to contain malware capable of hijacking cryptocurrency wallets, deploying software designed to steal passwords, and installing crypto-mining software that ran in the background on infected computers.

    In March 2024, cybersecurity firm VX Underground warned that players searching for cheat software for the first-person shooter series Call of Duty were exposed to malware capable of draining Bitcoin wallets. It’s unknown how many people were affected, but VX Underground said the attack potentially affected more than 4.9 million gaming accounts across multiple platforms.

    And in December, Kaspersky identified an infostealer malware in pirated mods for Roblox and other games.

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  • Why is NYC’s Mamdani facing criticism over response to attacks on wife?

    Why is NYC’s Mamdani facing criticism over response to attacks on wife?

    New York City Mayor Zohran Mamdani has found himself at the centre of a political firestorm over his wife’s past illustration work related to Palestine.

    The imbroglio began last week, when several right-wing news outlets reported on New York City First Lady Rama Duwaji’s past work connected to Palestinian author Susan Abulhawa and several incendiary comments Abulhawa has made.

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    But the response from Mamdani, who has since decried Abulhawa’s past statements as “abhorrent”, has sparked blowback from some of his own supporters, who say he risks reinforcing harmful narratives that conflate support for Palestinians with anti-Jewish sentiment.

    Some critics also say the situation underscores a broader double standard in the US, one in which the first Muslim mayor of the country’s largest city faces heightened scrutiny, even as high-profile elected lawmakers launch blatantly Islamophobic attacks with little recourse.

    Here’s what to know:

    What was the work in question?

    Duwaji’s ties to Abulhawa were first reported by the conservative news site the Washington Free Beacon last week.

    It said that 28-year-old Duwaji, a freelance illustrator, had provided an illustration for an “essay” compiled by Abulhawa as part of a collection from writers in Gaza titled “Every Moment is a Life” published online by “Everything is Political”.

    Abulhawa later clarified that the piece was actually a short story written by a resident of Gaza displaced during Israel’s genocidal war. Titled “A Trail of Soap”, it detailed the difficulties and indignities of using a public, makeshift restroom in the war-torn enclave.

    Mamdani said Duwaji had been commissioned by a third party and had never “engaged with or met with” Abulhawa, a claim Abulhawa later confirmed.

    The Free Beacon report, as well as subsequent reports by the New York Post and Jewish Insider, highlighted past comments made by Abulhawa.

    Some critics have maintained that a handful of Abulhawa’s posts appear to reference all Jewish people, a position that Abulhawa has rejected.

    She has maintained that the statements are a reflection of the pain she felt as a Palestinian who has twice travelled to Gaza for aid work during Israel’s genocidal war, which has killed more than 72,000 Palestinians since October 2023.

    In one article published on The Electronic Intifada website, Abulhawa described the October 7, 2023 attacks on southern Israel by Palestinian fighters as a “spectacular moment that shocked the world”.

    On social media, Abulhawa decried what she called “Jewish supremacist slaughter” in Gaza, writing, “these sons of satan will taste what they meted to us”.

    She has condemned Israeli foreign influence, describing “Jewish supremacist ghouls” and “vampires” and, in one instance, calling a commentator a “Jewish supremacist cockroach”.

    How did Mamdani respond?

    At a news conference last week, Mamdani said that beyond Duwaji having never met Abulhawa, she had also not seen the social media posts in question.

    “And we stand in our administration, and I can tell you, our administration –  which is separate from the first lady, she doesn’t have a role within it – is against bigotry of all forms … unflinchingly,” he told reporters.

    “I think that that rhetoric is patently unacceptable. I think it’s reprehensible,” he added, in reference to Abulhawa’s posts.

    What has Abulhawa said?

    In a lengthy video statement released on Saturday, Abulhawa said she hoped to clear things up for “Mr Mamdani, for his supporters and detractors alike, for the reporters, for my readers, for my own friends, and for the public in general”.

    She rejected that her comments represented either anti-Semitism or anti-Jewish racism, saying she was responding to a Zionist power structure and its proponents from the perspective of a Palestinian who has experienced the ravages of that system.

    “Israel and by extension, Israelis – since, as we’re constantly told, they’re the only democracy in the region – have destroyed, shattered and robbed my family of everything,” she said.

    “They have committed the genocide in full view of the world, the wholeness of its blood and gore, its apocalyptic horror, its generational injury and its moral harm to all of humanity,” she said.

    Abulhawa further described “the feelings [Palestinians] have of pain, rage, contempt or hatred, coupled with the impotence to make the suffering stop”.

    She added she would continue to use the “privilege of having a voice … to speak forcefully for those who are defenceless against hateful colonial state violence”.

    Why has Mamdani been criticised?

    Several commentators who have in the past supported Mamdani questioned the mayor’s decision to engage with the reports, arguing that it only fed disingenuous narratives.

    Activist Shaiel Ben-Ephraim described Mamdani as “stupid for apologising and explaining”.

    “Nothing will ever be enough for Zionists anyway,” he wrote. “Stand tall.”

    Palestinian writer Mohammed El-Kurd pointed to Mamdani’s own account of being motivated to enter politics by the issue of Palestinian rights, writing that it was “fair to hold him to his word”.

    Craig Mokhiber, a former United Nations human rights official, also urged Mamdani to take a stand, adding he should “forget what your aides are telling you”.

    “Fear is not a sound basis for politics at this moment in history,” he said in a post on X.

    For her part, Abulhawa said she was not personally “mad” at Mamdani, but that the situation should be a learning experience.

    “You succumbed to forces that seek to pick away at you, at your talented, beautiful wife, and [are] clawing harder with each apology or concession you make,” she said.

    “If you are not careful, they will siphon your soul before you even realise it.”

    What’s the wider context?

    Mamdani faced a wave of Islamophobia during his meteoric political victory last year. He has regularly been accused of anti-Jewish sentiment for condemning Israel’s policies and for describing its actions in Gaza as a “genocide”. He has repeatedly said he is a leader for “all New Yorkers”.

    Mamdani has also alienated some supporters by saying during the campaign that he would “discourage” the term “globalise the intifada”, in what some saw as a capitulation to those making unfounded claims against him.

    Some critics have decried a double standard in the intense scrutiny Mamdani has faced for his political views and his family’s peripheral connections.

    That recently included answering questions over his wife’s “liking” of social media posts that praised Palestinian resistance in the wake of the October 7, 2023 attacks.

    In turn, several lawmakers have seen little recourse for blatantly Islamophobic posts about Mamdani.

    Republican US Senator Tommy Tuberville, for instance, has faced little rebuke from his own party for repeatedly attacking Mamdani’s faith.

    In a post on X last week, Tuberville responded to a photo showing Mamdani celebrating iftar next to a photo of the September 11, 2001, attacks on the World Trade Center.

    “The enemy is inside the gates,” Tuberville wrote.