Weapon Neutralizes Drone Swarm in Seconds: 'Singularity Event'

Welcome back!

Here’s your must-read news this morning:

• Cook sues Trump

• Electromagnetic weapon beats drone swarm

• Cracker Barrel scrubs Pride page

I’ve got all the details for you, so let’s dive in.

— Josh

MARKETS

💰 Fired Fed Board Member Lisa Cook Sues Trump in Attempt to Keep Her Job

The Scoop: President Donald Trump is taking decisive action to restore accountability at the Federal Reserve by removing Governor Lisa Cook over serious mortgage fraud allegations, though Cook's lawsuit challenges his authority and sets up a potential Supreme Court battle over "presidential removal powers" that could strengthen executive oversight of the central bank.

The Details:

• Trump exercised his executive authority to fire Cook for "sufficient cause" after credible mortgage fraud allegations surfaced, but Cook refused to step down and filed suit Thursday, creating a constitutional test case over presidential oversight powers.

• The allegations stem from a criminal referral by Trump appointee Bill Pulte, who accused Cook of falsely declaring two primary residences to secure favorable loan terms—conduct Trump says is unacceptable for someone "in charge of mortgages."

• The President confidently told reporters he's ready for the legal fight and has "very good people" lined up for Fed positions.

What’s Next: Trump's move to hold Fed officials accountable could strengthen presidential oversight of monetary policy and restore public trust in financial institutions. If the Supreme Court upholds his removal authority, it would validate Trump's commitment to draining the swamp and ensuring only the most qualified, ethical leaders guide America's economic future.

Markets Roundup

🏦 Economy & Policy

• ⭐ Editor’s Pick: The U.S. economy expanded at a revised 3.3% annualized rate in Q2, surpassing the 3.1% forecast by LSEG-polled economists and the Commerce Department’s initial 3% estimate. (FBN)

• U.S. weekly jobless claims dropped to 231,000, signaling low layoffs and a resilient labor market. (YN)

• U.S. pending home sales dipped 0.4% in July as high mortgage rates and a slowing labor market dampened buyer demand. (REL)

• Federal Reserve Governor Christopher Waller anticipates a 25-basis-point interest rate cut in September, with further reductions over the next three to six months. (INV)

• Trump’s Federal Reserve nominee Stephen Miran will have a Senate confirmation hearing on September 4. (RTS)

🏢 Industry

• ⭐ Editor’s Pick: Trump’s energy policies have driven U.S. gas prices to a five-year low of $3.15 per gallon for Labor Day. (FBN)

• Cracker Barrel co-founder Tommy Lowe slammed the chain’s “pitiful” logo rebrand, urging CEO Julie Masino to preserve its country identity. (FBN)

💵 Energy & Commodities

• ⭐ Editor’s Pick: India plans to boost Russian oil imports by 10-20% in September, defying U.S. tariffs aimed at curbing the trade. (RTS)

• U.S. midstream energy infrastructure, including pipelines and storage, presents a generational investment opportunity, a private equity executive argues. (INFI)

• Arena Magazine’s Maxwell Meyers wrote a deep dive on Base Power, a Texas startup that aims to revolutionize the grid with home battery installations, enhancing reliability and efficiency. (AM) [Get 25% off Arena Mag]

• Fidelity analysts predict gold’s bull run is far from over, fueled by central bank purchases and global gold ETF holdings continuing to increase. (PAAD)

🌕 Crypto

• ⭐ Editor’s Pick: The U.S. Department of Commerce partnered with Chainlink and Pyth Network to publish key economic data on ten public blockchains. (UCD)

• Tether plans to launch its USDT stablecoin on the Bitcoin blockchain using the RGB protocol. (CN)

• American Bitcoin, backed by Trump’s sons, secured investors for an all-stock merger with Gryphon Digital Mining to begin trading on Nasdaq in September. (RTS)

• Bitwise predicted Bitcoin could reach $1.3 million by 2035, driven by global adoption and institutional investment. (CT)

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TECH

📡 Electromagnetic Weapon Downs Drone Swarm Within Seconds: 'Singularity Event'

The Scoop: The future of warfare arrived at an Indiana military base this week as defense contractor Epirus demonstrated its "drone-frying forcefield" technology, obliterating 49 attacking drones simultaneously without firing a single bullet, Axios reports.

The Details:

• Epirus's Leonidas system disabled 49 quadcopters, at once, using electromagnetic interference at Camp Atterbury.

• CEO Andy Lowery expressed excitement about the achievement, telling Axios: "I call this a singularity event."

• The $250 million-funded company has tested weapons globally as drone swarms challenge traditional military power, where "apex predators of the battlefield, like tanks, are having their claims contested."

• Epirus introduced a "sixth domain" military doctrine, arguing cheap networked machines create a new theater of war beyond the traditional air, land, sea, space, and cyber domains.

What’s Next: As drone warfare reshapes global military spending and power dynamics, electromagnetic "forcefield" defenses may become as critical as radar once was. Expect rapid deployment of these sci-fi-turned-real weapons systems to protect everything from World Cup stadiums to nuclear power plants.

Tech Roundup

🧠 AI

• ⭐ Editor’s Pick: xAI introduced grok-code-fast-1, an AI model designed for autonomous coding tasks, with proficiency in languages such as TypeScript, Python, Java, Rust, C++, and Go. (GD)

• Microsoft debuted MAI-Voice-1, a speech model generating a minute of audio in under a second on one GPU, and MAI-1-preview, a text model, to bolster its AI-driven Copilot platform. (SEM)

• OpenAI upgraded its Realtime API with gpt-realtime, a speech-to-speech model supporting image inputs and phone calls, empowering developers to create sophisticated voice-driven applications. (ZDN)

• Meta’s Superintelligence Lab is racing to launch Llama 4.X by year-end, aiming to rival GPT-5 with enhanced reasoning and multimodal capabilities. (BI)

🤖 Hardware & Robotics

• ⭐ Editor’s Pick: UC San Diego Health pioneers the world’s first personalized cervical spine surgery using AI and 3D-printed implants tailored to a patient’s unique anatomy. (IE)

• A robot revealed unseen chambers and ancient symbols in the Great Pyramid’s Queen’s Chamber, challenging theories about its construction and purpose. (TOI)

• Paolo’s Circus in Newquay, UK, introduces Ion, the world’s first robotic lion, capable of daring stunts like fire-jumping. (VOI)

• Rollney debuted its Chocolate Robotic Ice Cream Machine in Singapore, offering 24/7 automated dessert service. (VT)

🚀 Defense & Space

• ⭐ Editor’s Pick: Mysterious glowing orbs, reported over U.S. military bases, spark intrigue as the Pentagon tracks thousands of unexplained aerial phenomena. (DM)

• Satellite photos show China preparing to showcase advanced anti-ship missiles, including hypersonic YJ-series, at its September 3 Victory Day parade, signaling a strategic focus on countering U.S. naval power. (BI)

• General Atomics’ YFQ-42A drone completed its first test flight in California, advancing the Air Force’s push for a fleet of over 1,000 autonomous wingmen to support F-35 and F-47 jets. (DN)

• The Pentagon established a Joint Interagency Task Force 401 to accelerate counter-drone technology deployment. (DN)

💰 Venture Capital

• ⭐ Editor’s Pick: Commonwealth Fusion Systems secured $863 million in a Series B2 funding round, backed by Nvidia and Google, to advance its fusion power plant for grid-scale clean energy. (GD)

• Amsterdam-based Framer raised €85.6 million ($100 million), in a Series D led by Meritech and Atomico, at a €1.7 billion ($2 billion) valuation, to expand its no-code web platform.

• FriendliAI, a California-based AI inference platform, secured a $20 million seed-extension round led by Capstone Partners to drive faster, more cost-effective model deployment. (CBN)

• Rain, a stablecoin-backed Visa card issuer, raised $58 million in a Series B round led by Sapphire Ventures, to expand its global payment infrastructure. (TI)

FREEDOM

🇺🇸 Cracker Barrel’s Pride Page Removal Marks Victory for Anti-Woke Activists

The Scoop: Cracker Barrel's cultural retreat reveals the power of consumer backlash against corporate progressivism, as the restaurant chain reversed course on both its modernized logo and LGBTQ+ initiatives following intense pressure from conservative activists, suggesting a strategic pullback from diversity efforts across corporate America.

The Details:

• Cracker Barrel confirmed to Fox Business that it removed its Pride page from its website this week and made changes to its business resource groups, redirecting Pride content to a generic "Culture and Belonging" page after facing scrutiny from conservative activists.

• Conservative activists Robby Starbuck and Chris Rufo led campaigns against the company's past LGBT support, with Starbuck releasing a video takedown calling the changes "brand destruction 101" and evidence of abandoning middle-America values.

• The company also reversed its controversial logo redesign that removed traditional imagery of "The Old Timer," after shares dropped roughly 7% following the rebrand announcement and widespread social media backlash.

What’s Next: Corporate America may be entering a new era of "woke fatigue," where companies face pressure to abandon progressive initiatives in favor of traditional branding. As conservative activists demonstrate their ability to mobilize consumer boycotts effectively, more brands may follow Cracker Barrel's playbook of strategic retreat from cultural issues to protect their bottom line.

Freedom Roundup

🏛️ Policy, Free Speech & Woke Retreat

• ⭐ Editor’s Pick: An economist was fined €16,100 ($19,000) under Germany’s insult law for sarcastic X posts about politicians and journalists. (RTN)

• Trump signed a memorandum barring the use of federal grant funds for political lobbying. (RTS)

• FTC Chair Andrew Ferguson warned Alphabet CEO Sundar Pichai that Gmail’s filtering of Republican emails could trigger enforcement. (AX)

• Under Secretary Robert F. Kennedy Jr.’s leadership, HHS has cut nearly $122 million in funding across 195 DEI- and LGBTQ+-focused research projects. (NYP)

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