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DOJ seizes record $225 million in crypto tied to global ‘pig butchering’ scams

Editor's pick 2 Mins Read

The Justice Department announced Wednesday the largest-ever U.S. seizure of cryptocurrency linked to so-called “pig butchering” scams that have cost victims billions globally.

Federal prosecutors filed a civil forfeiture action targeting more than $225 million in cryptocurrency traced to a sprawling web of fraudulent investment platforms. Victims were tricked into believing they were investing in legitimate crypto ventures, only to be scammed by criminal networks often operating overseas.

“This seizure of $225.3 million in funds linked to cryptocurrency investment scams marks the largest cryptocurrency seizure in U.S. Secret Service history,” said Shawn Bradstreet, special agent in charge of the U.S. Secret Service’s San Francisco Field Office, in a statement.

Authorities said the network was connected to at least 400 suspected victims worldwide, including dozens in the U.S. Crypto fraud was responsible for more than $5.8 billion in reported losses last year, according to FBI data.

The seized funds are now subject to forfeiture proceedings aimed at eventually returning money to victims.

The U.S. Secret Service and FBI used blockchain analysis and other tools to trace the cryptocurrency back to stolen assets. The DOJ credited Tether, the world’s largest stablecoin issuer, for assisting in the operation.

According to the complaint, the funds were linked to the theft and laundering of money from victims of cryptocurrency investment fraud schemes, commonly known as confidence scams that often involve romance.

The network relied on hundreds of thousands of transactions to obscure the origin of the funds, using sophisticated blockchain maneuvers to conceal the flow of stolen assets.

This post appeared first on NBC NEWS

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Editor's pick

Amazon expects to cut corporate jobs as it relies more on AI

Editor's pick 3 Mins Read

Amazon CEO Andy Jassy said Tuesday that the company expects artificial intelligence ‘will reduce our total corporate workforce as we get efficiency gains’ over time.

‘We will need fewer people doing some of the jobs that are being done today, and more people do other types of jobs,’ Jassy added in a memo to Amazon’s workforce.

The CEO of the country’s second-largest retailer and employer said Amazon is using generative AI ‘in virtually every corner of the company.’

Amazon employs more than 1.5 million people worldwide, according its most recent annual report.

This year, Amazon plans to spend $100 billion to expand AI services and data centers that power them, up from $83 billion last year.

Jassy said he believes so-called ‘AI agents’ will ‘change how we all work and live.’ While ‘many of these agents have yet to be built,’ he said, ‘they’re coming, and fast.’

He continued by saying that they will ‘change the scope and speed at which we can innovate for customers.’

Amazon currently has more than a thousand AI services and applications running inside the company or in progress of being built.

Jassy’s comments Tuesday will likely invoke fears that many corporate workers have had as artificial intelligence captures the eye of efficiency-minded executives across corporate America. A recent study from Bloomberg Intelligence said that AI could replace up to 200,000 banking jobs.

Amazon CEO Andy Jassy in New York on Feb. 26.Michael Nagle / Bloomberg via Getty Images

Artificial intelligence has also been shown to be effective at coding for software programs.

Cybersecurity firm Crowdstrike eliminted 5% of its workforce in May, saying that AI was driving ‘efficiencies across both the front and back office.’

Shopify CEO Tobi Lutke said managers at the e-commerce company will be expected to prove why they ‘cannot get what they want done using AI’ before asking for more headcount.

‘Having AI alongside the journey and increasingly doing not just the consultation, but also doing the work for our merchants is a mind-blowing step function change here,’ Lutke added.

Language learning firm Duolingo also recently said that it would replace contract workers with artificial intelligence. ‘We’ll gradually stop using contractors to do work that AI can handle,’ CEO Luis von Ahn wrote in a memo to Duolingo employees in May. ‘Headcount will only be given if a team cannot automate more of their work,’ von Ahn added.

The CEO of U.K. telecom giant BT said this week that plans to cut 40,000 jobs from the company’s workforce over the next 10 years ‘did not reflect the full potential of AI.’

This post appeared first on NBC NEWS

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Editor's pick

Streaming overtakes cable and broadcast as the most-watched form of TV

Editor's pick 2 Mins Read

A new king reigns in TV land.

Streaming has officially surpassed broadcast and cable as a share of total television viewing, according to Nielsen data.

In May, streaming accounted for 44.8% of viewership, while broadcast (20.1%) and cable (24.1%) together represented 44.2% of overall people tuning in.

‘While many have expected this milestone to have occurred sooner, sporting events, news and new-season content have kept broadcast and cable TV surprisingly resilient,’ Brian Fuhrer, senior vice president at Nielsen, said in a video for Nielsen’s The Gauge monthly viewership report. ‘The trend, however, has been very consistent.’

While Netflix has boasted the most overall TV use for four years straight, YouTube has now seen four straight months of TV share increase, Nielsen said. The platform, owned by Google and its parent company, Alphabet, boasted the highest share of TV consumption among all streamers in May, with a 12.5% share. Rounding out the top five were Netflix, Disney-owned platforms including ESPN and Hulu, Amazon’s Prime Video, and the Roku Channel.

The three largest so-called free, ad-supported services, or FAST channels — Paramount’s Pluto TV, the Roku Channel and Fox’s Tubi — combined for 5.7% of total TV viewing in May, more than any individual broadcast network.

Streaming’s overall share is likely to remain neck and neck with traditional TV viewership for some time before it eventually surpasses it permanently in the near future, Nielsen said.

This post appeared first on NBC NEWS

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Stock

3 S&P 500 Charts That Point to the Next Big Move

Stock 1 Min Read

Follow along with Frank as he presents the outlook for the S&P 500, using three key charts to spot bullish breakouts, pullback zones, and MACD signals. Frank compares bearish and bullish setups using his pattern grid, analyzing which of the two is on top, and explains why he’s eyeing SMCI and AMD as potential trades. From there, he wraps the show with a look at some ETF plays.

This video originally premiered on June 17, 2025.

You can view previously recorded videos from Frank and other industry experts at this link.

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Investing

Lithium Universe LtdAcquisition of Solar Panel Recycling Technology

Investing 8 Mins Read

Melbourne, Australia (ABN Newswire) – Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) has entered into a binding agreement to acquire the global rights to commercially exploit a patented photovoltaic (‘PV’) solar panel recycling technology known as ‘Microwave Joule Heating Technology’ (‘MJHT’ or the ‘Technology’).

Highlights

– Agreement to acquire global rights photovoltaic (PV) solar panel recycling technology

– ‘Microwave Joule Heating Technology’ (MJHT) from Macquarie University

– Utilises microwave technology to selectively heat and delaminate PV cells

– 60-78 million tonnes of waste photovoltaic (PV) modules cumulated by 2050

– Today only 15% of waste solar cells are recycled worldwide

– Most end up in land fill as valuable waste

– Hard to recycle, high temperature furnace, toxic chemicals, low recovery

– MJHT and Delamination enables selective separation of materials – higher recoveries

– To investigate further recovery of silver, silicon, gallium and indium

– Binding commitments received to raise $1.7 million via placement to existing and new sophisticated and professional investors

The rights will be secured via an exclusive licensing agreement (‘Licensing Agreement’) with Macquarie University (‘MQU’), held through an Australian-incorporated holding company, New Age Minerals Pty Ltd (‘NAM’). The key terms of the Licensing Agreement are set out in Schedule 1*. The transaction will be effected by LU7 acquiring 100% of the issued share capital of NAM (‘Proposed Transaction’).

The basis of the technology platform utilises microwave technology to selectively heat silicon thereby softening the EVA encapsulant in solar panels, enabling easy delamination and potential recovery of valuable materials at room temperature. This approach avoids the need for extreme heat (1400degC) typically required for separating materials like glass and silicon as well as the use of costly hazardous chemicals in traditional processes. Delamination enables selective separation of materials without the need for mechanical crushing, whereas traditional crushing methods often result in cross-contaminated material and lower recovery rates.

A report published by the International Energy Agency Photovoltaic Power Systems Programme1 projected that global waste PV modules will amount to 1.7-8.0 million tonnes cumulatively by 2030 and 60-78 million tonnes cumulatively by 2050. By 2035, Australia is expected to accumulate 1 million tonnes of solar panel waste worth over A$1 billion, while the global CIGS (Copper, Indium, Gallium, Selenide) solar cell market is projected to grow to US$12.23 billion by 2032.

Currently, only 15% of used PV cells are recycled, with the rest accumulating in landfills.

This low recycling rate is due to complex processes, high-temperature furnaces, toxic chemicals, and poor recovery yields. The Technology, developed by MQU, enhances the extraction of valuable metals such as silver, silicon, gallium, and indium from discarded PV panels using microwave and delaminating techniques. The breakthrough technology offers a promising new approach for enhanced recovery of valuable metals like Silver, Silicon, Gallium, and Indium. The Company plans to initiate further research and development in this area.

THE PROBLEM TODAY

The world’s renewable energy transition is moving fast, with large-scale PV solar panels playing a central role in national energy strategies. The global solar cell market is projected to hit US$39.81 billion by 2037, growing at a compound annual growth rate (CAGR) of around 8.2%.

Approximately 37% of Australian households have installed solar panels. This represents over 4 million homes and small businesses with solar power systems. The Clean Energy Council reports that 12.4% of Australia’s electricity generation in 2024 came from rooftop solar.

However, as these panels approach the end of their 25-30-year lifespan, the industry faces a growing challenge: managing solar panel waste and recovering valuable materials. A report published by International Energy Agency Photovoltaic Power Systems Programme (IEA PVPS) Task12 and the International Renewable Energy Agency (IRENA) in 2016 projected world’s waste PV modules globally to amount to 1,7-8,0 million tonnes cumulatively by 2030 and to 60-78 million tonnes cumulatively by 2050. By 2035, Australia alone is expected to accumulate 1 million tonnes of end-of-life solar panels, with a total material value of over $1 billion. By 2045, Australia could be looking at 34.6 GW of serviceable panels that will need to be recycled or repurposed, equivalent to the total installed solar capacity in the country as of August 2024.

LOW RECYCLING RATES

The global recycling rate for PV solar panels is around 15%, driven by several challenges. The recycling process is complex, requiring high temperatures and toxic chemicals, making it costly and energy intensive. Economic incentives are limited as the recovery of valuable materials like silicon does not provide sufficient financial returns. However, if recycling technologies can effectively attract and recover critical materials like silver, silicon, gallium, and indium, the financial viability of recycling improves, driving higher recycling rates.

Additionally, the lack of recycling infrastructure and the diverse materials in panels further complicate efficient separation, but advancements in technology are addressing these issues.

When waste PV cells aren’t recycled, they often end up in landfills, causing numerous environmental problems.

Panels can contain harmful materials like cadmium and lead, which may leak into the ground and water, posing risks to both ecosystems and human health. Valuable metals like silver, silicon, gallium, and indium are lost, adding to the strain on natural resources. As more solar panels reach the end of their life, landfills fill up, and the energy stored in these materials is wasted. Recycling can help solve these issues by recovering critical materials and cutting down on pollution.

POTENTIAL GROWTH OF PV RECYCLING INDUSTRY

The nascent PV solar panel recycling industry is experiencing rapid growth due to the increasing demand for critical metals such as silicon, silver, and indium, which hold substantial economic value. As the market for endof-life (EoL) solar panels expands, driven by both economic opportunities and environmental needs, the recovery of these materials is becoming a lucrative business. The market for recyclable materials from EoL solar panels is projected to reach over $2.7 billion by 2030 and could approach $80 billion by 2050, according to Rystad Energy. This growth is further fuelled by the fact that recovering materials from used panels can offset the need for costly and environmentally damaging virgin material extraction. Additionally, recycling helps secure a domestic supply of critical metals, reducing reliance on volatile foreign sources. Advancements in recycling technology, particularly in recovering high-value materials like silicon and silver, are making these processes more economically viable and environmentally necessary. Research has demonstrated that up to 98% of silver and nearly all of copper, lead, and other valuable metals can be recovered efficiently, enhancing the profitability of the recycling industry. As technology improves, the recycling of PV panels will play a crucial role in supporting the transition to a circular economy and sustainable energy future.

CRITICAL METALS IN PV CELLS

As the demand for critical minerals continues to rise with the global shift to clean energy, the need to recover valuable materials from these panels becomes increasingly urgent. Solar panels are made up of 95% recyclable materials, including silver, aluminum, silicon, copper, indium, and gallium-all of which are vital to global clean energy supply chains. Rare metals like gallium are essential for solar fuel cells, semiconductor chips, and other high-tech applications, making their recovery from e-waste a key priority.

COMMENTS: EXECUTIVE CHAIRMAN, IGGY TAN

‘Now that we have completed our lithium refinery DFS and secured all necessary components-including land and partnerships-we are positioned and ready for a lithium price recovery. We are confident in our counter-cyclical strategy and firmly believe that LU7 will benefit significantly when the lithium market rebounds. While awaiting this recovery, we have been presented with an exciting opportunity to acquire a cutting-edge photovoltaic recycling technology’.

‘I am thrilled about the acquisition of Macquarie University’s Microwave Joule Heating Technology (MJHT) and the opportunity to potentially extract critical metals such as silver from solar panel recycling.

The need for effective PV recycling has never been greater, with only 15% of panels currently being recycled. The mass accumulation of solar panel waste in landfills is a growing problem, as valuable critical metals like silver, silicon, gallium, and indium are left behind, contributing to both resource depletion and environmental harm. Microwave technology offers a promising solution to these challenges, enabling higher recovery rates and more sustainable recycling processes. We firmly believe that this technology represents the future of solar panel waste management. We are eager to collaborate with the Macquarie team to develop a more efficient and cost-effective recycling process’.

*To view the full release with tables and figures, please visit:
https://abnnewswire.net/lnk/A0938OHA

To view the Market Presentation, please visit:
https://www.abnnewswire.net/lnk/JJ10ITOI

About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe’s mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.

Source:
Lithium Universe Ltd

Contact:
Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com

Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com

News Provided by ABN Newswire via QuoteMedia

This post appeared first on investingnews.com

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Investing

SPUT’s US$200 Million Uranium Buying Plan Spurs Market Rally

Investing 3 Mins Read

The U3O8 spot price climbed sharply to kick off the week, hitting US$76.21 per pound.

Its Monday (June 16) rise is a 9.7 percent gain from the previous week’s close of US$69.47, and came after news that the Sprott Physical Uranium Trust (TSX:U.U,OTCQX:SRUUF) had penned a US$100 million bought-deal financing.

The financing was upsized to US$200 million the same day ‘as a result of strong investor demand.’

Sprott (TSX:SII,NYSE:SII), acting on behalf of the trust, confirmed the agreement, which will see Canaccord Genuity Group (TSX:CF,OTC Pink:CCORF) purchase 11,600,000 units of the trust at a price of US$17.25 each.

The offering, expected to close by June 20 pending regulatory approvals, will fund purchases of uranium oxide concentrates and uranium hexafluoride, in line with the trust’s mandate to hold physical uranium.

The news sparked a rally in uranium stocks on Monday.

On the TSX, major miner Cameco (TSX:CCO,NYSE:CCJ) rose just over 6.5 percent, while NexGen Energy (TSX:NXE,NYSE:NXE) was up 8 percent. Uranium Energy (NYSEAMERICAN:UEC) was up 12.64 percent in the US, and Denison Mines (TSX:DML,NYSEAMERICAN:DNN) jumped 14.8 percent on the TSX.

In Australia, Deep Yellow (ASX:DYLASX:DYL,OTCQX:DYLLF) surged more than 21 percent, while Boss Energy (ASX:BOE,OTCQX:BQSSF) jumped nearly 18 percent and Paladin Energy (ASX:PDN,OTCQX:PALAF) climbed over 15 percent amid investor optimism that the fresh capital injection could tighten the uranium spot market.

The Sprott trust, launched in 2021 and often referred to as SPUT, has been a key player in physically sequestering uranium from global markets, helping to reduce available supply and influence spot pricing trends.

After reaching a 14 year high of US$82 in early 2024, uranium prices trended downward, falling as low as US$64.30 this year. Despite the consolidation phase, experts believe the long-term outlook is positive.

The deal marks one of the most significant capital raises for uranium buying in 2025, and reflects growing institutional confidence in the long-term viability of nuclear energy as part of the clean energy transition.

SPUT’s move also comes amid momentum in US uranium policy. In late May, US President Donald Trump signed a series of executive orders aimed at revitalizing America’s nuclear energy sector. The orders are intended to ramp up domestic uranium production to meet growing power demands, especially from artificial intelligence data centers.

Tech giants like Microsoft (NASDAQ:MSFT), Google and Amazon (NASDAQ:AMZN) have all done nuclear power deals for data centers, honing in on nuclear as a viable solution for their zero-carbon baseload energy needs.

For now, Sprott’s buying spree offers a test of how tight the uranium market really is. With settlement set for later this week, attention will turn to whether its uranium purchases trigger further positive price activity.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Sport

Coastal Carolina making College World Series run behind elite pitching staff

Sport 5 Mins Read

  • Coastal Carolina’s pitching staff, ranked second nationally in ERA, is a key factor in its success.
  • Most of Coastal Carolina’s pitchers are homegrown talents who have shown significant improvement this season.
  • The team’s new pitching coach, Matt Williams, and catcher Caden Bodine have played crucial roles in the pitching staff’s development.

OMAHA, NE ― Jacob Morrison walked off the mound at Charles Schwab Field to a rousing standing ovation.

The Coastal Carolina starting pitcher had just finished pitching 7⅔ scoreless innings. He didn’t walk anyone and struck out seven. Four outs from the bullpen later, the Chanticleers had clinched their spot in the College World Series semifinals, where they will take on Louisville on June 18 needing one win to play for a championship.

Morrison, the Sun Belt pitcher of the year, has a perfect 12-0 record this season with a 2.08 ERA. But Coastal Carolina coach Kevin Schnall didn’t choose him to start him in its CWS opener − the Chanticleers didn’t need to.

Instead, Schnall went with a combination of Riley Eikhoff, who is 6-2 with a 2.98 ERA, and Cameron Flukey, who is 7-1 with a 3.29 ERA. Coastal Carolina won that game against Arizona.

Armed with a pitching staff that ranks second nationally in ERA, the Chanticleers are now in the driver’s seat to advance to the College World Series finals for the first time since their 2016 national title run.

‘I think we can continue to be the best pitching staff in Omaha,’ Eikhoff told USA TODAY Sports after the win over Oregon State.

Perhaps even more impressive than Coastal Carolina’s pitching success is how it happened. There aren’t any big-name transfers among the group. Nine of the Chanticleers’ 10 most used pitchers began their college careers with Coastal; the one who didn’t, closer Ryan Lynch, started at a junior college. The group is also relatively young, including two freshmen and three sophomores.

The 2024 Chanticleers were in their final season under longtime coach Gary Gilmore. They were one of the last four teams to receive an at-large bid to the NCAA tournament. When Schnall, who was assistant under Gilmore since 2016, took over before this season, the team was picked to finish fourth in the Sun Belt.

A big reason why Coastal Carolina exceeded those expectations − winning the Sun Belt regular season and tournament titles and riding a 25-game win streak − was across-the-board improvement of the Chanticleers’ returning pitchers. Many of those arms credit the success to the hire of pitching coach Matt Williams, who spent the 2024 season at South Carolina, as well as to the impact of catcher Caden Bodine, who is considered one of the top defensive catchers in the country.

‘Pounding the zone has been a huge part,’ Lynch said. ‘All of our starters are very efficient. Get early strikes, pound the zone, try to limit walks, then just having our defense behind us. … And then having (Bodine) behind the plate, just him getting pitches that would be off the plate or low that he’s getting strikes for us.’

Coastal Carolina’s 8% walk rate is the lowest among teams in Omaha and fifth-lowest of all Division I teams in 2025. But while low walk rates are often associated with a lack of high-octane stuff, that’s not the case for the Chanticleers, either. Morrison, whose fastball touches 95 mph at 6-foot-8, was ranked the No. 181 MLB draft prospect for 2025 by MLB Pipeline. Flukey, whose velocity has been up to 98 mph, is considered a top-three rounds prospect for the 2026 draft. Lefty reliever Dominick Carbone has a nasty slider.

For Morrison, a big part of his development was working through Tommy John surgery rehab. He had a 6.55 ERA in 13 starts as a freshman in 2023 but missed the entire 2024 season with injury.

‘I’ve always been a big strike thrower,’ Morrison said in the press conference after the Oregon State game. ‘My freshman year, I threw a ton of strikes but I had a hard time keeping the ball out of the middle of the plate. That was a big thing, not only in my rehab last year, but even in freshman year development, throwing pitches where I want.’

Flukey, a sophomore who had a 5.73 ERA in 19 appearances as a freshman, credits his improvement to putting more trust in his stuff and becoming more willing to attack within the strike zone. This season, he has a 3.29 ERA and cut his walk rate from 10.9% to 5.7%.

Eikhoff, a fifth-year, had an ERA above 4.43 in each of his first three seasons, but in 2025 he has a 2.98 ERA. He was the one Schnall trusted with the ball in the opening game.

Part of Williams’ impact has been the confidence he’s instilled in the pitching staff. He came in during the fall and gave each pitcher a goal to work towards. From there, the pitchers went to work to build one of the country’s best pitching staffs − one good enough to win a national championship.

‘Coach Williams has a lot of credit to (our success), I think,’ Flukey said. ‘But also, as a family, we’ve all kind of pushed each other and made sure everyone’s on their stuff, but Williams has been the start of that, and then we all kind of took a leadership role.’

Aria Gerson covers Vanderbilt athletics for The Tennessean. Contact her at agerson@gannett.com or on X @aria_gerson.

This post appeared first on USA TODAY

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Sport

Who wins on Day 6? Predictions, picks for College World Series

Sport 2 Mins Read

OMAHA, NE ― The semifinals of the 2025 Men’s College World Series get underway Wednesday, June 18.

Coastal Carolina will take on Louisville (2 p.m. ET) and LSU will face Arkansas (7 p.m. ET) at Charles Schwab Field to close out the double-elimination bracket. The Chanticleers and Tigers need just one win, while the Cardinals and Razorbacks need to win twice.

On Day 5, Louisville defeated Oregon State, 7-6, and Arkansas defeated UCLA, 7-3.

The two bracket winners will face off in a best-of-three championship series for the national title.

Here are our predictions:

Louisville vs Coastal Carolina prediction

Coastal Carolina 4, Louisville 2 — Coastal Carolina hasn’t hit a single home run in Omaha, the only team still left to say so. But the Chanticleers have won with pitching and defense, and they’re set up to be able to return Riley Eikhoff for the semifinals after a short start in Game 1. Louisville has had several incredible comebacks in Omaha, but the Cardinals are low on reliable pitching and its defense has left a bit to be desired.

Arkansas vs LSU prediction

Arkansas 7, LSU 5 ― Arkansas will have its back against the wall playing its third straight elimination game. But LSU will likely be without Kade Anderson, Anthony Eyanson and Casan Evans for this game after a rain delay forced the Tigers to pull Eyanson early from his start. The Razorbacks have more to play for in this one and their offense finally started to come alive against UCLA.

Aria Gerson covers Vanderbilt athletics for The Tennessean. Contact her at agerson@gannett.com or on X @aria_gerson.

This post appeared first on USA TODAY

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