Connect with us

Published

on

Sam Bankman-Fried, CEO and Founder of FTX, walks near the U.S. Capitol, in Washington, D.C., September 15, 2022.

Graeme Sloan | Sipa via AP Images

Sam Bankman-Fried told Reuters he is still in the Bahamas, as rumors swirled overnight that the disgraced ex-CEO of the now-bankrupt crypto exchange FTX had run off to South America.

FlightRadar24 tweeted early Saturday morning that the one-time crypto billionaire was flying from Nassau to Argentina. The account cited tweets as its sourcing that it was Bankman-Fried aboard the flight in question. (Argentina has an extradition treaty with the U.S. and carried out an extradition as recently as October, so it is not an ideal destination for someone potentially looking to evade authorities in the U.S.)

Reuters asked Bankman-Fried whether he had flown to Argentina, and he replied, “Nope,” by text. He added that he remained in the Bahamas, which became his full-time residence last year.

Speculation over SBF’s (a nickname given to the former FTX CEO) whereabouts come as authorities close in on Bankman-Fried and his failed crypto empire.

On Thursday, Bankman-Fried tweeted that he would be winding down his trading house, Alameda Research, and then on Friday, FTX — the digital asset exchange that Bankman-Fried founded in 2019 — filed for Chapter 11 bankruptcy protection in the U.S. That same day, Bankman-Fried stepped down as CEO. The Financial Times is reporting that a day before filing for bankruptcy protection, FTX’s global exchange had $900 million in “easily sellable assets” against $9 billion of liabilities.

It was a very swift fall from grace for FTX this week.

Earlier this year, the exchange was valued at $32 billion, and Bankman-Fried was billed as crypto’s white knight as he bailed out multiple digital asset companies. Now, its ex-CEO is reportedly facing probes by the Department of Justice, the Securities and Exchange Commission, and the Commodity Futures Trading Commission. Meanwhile, the bankrupt exchange appears to have been the target of a hack overnight.

— CNBC’s David Sucherman contributed to this report.

Crypto is one of the largest speculative bubbles I've seen in my career, says Ron Insana

Continue Reading

Environment

Trilogy Metals shares soar nearly 200% in premarket after U.S. takes stake in minerals explorer

Published

on

By

Trilogy Metals shares soar nearly 200% in premarket after U.S. takes stake in minerals explorer

US President Donald Trump, left, and Doug Burgum, US secretary of the interior, in the Oval Office of the White House in Washington, DC, US, on Monday, Oct. 6, 2025.

Bloomberg | Bloomberg | Getty Images

Shares of U.S.-listed minerals explorer Trilogy Metals jumped as much as 205% in premarket trade on Tuesday, shortly after the White House said it would take a 10% stake in the Canadian company.

The stock was seen trading 183% higher in premarket deals at 9:54 a.m. London time (4:54 a.m. ET).

The White House on Monday announced a partnership with Trilogy Metals as part of a push to unlock domestic supplies of copper and other critical minerals in the Ambler mining district in Alaska.

The partnership included a $35.6 million investment, which makes the U.S. government a 10% shareholder in Trilogy Metals.

Trilogy Metals welcomed Trump’s decision to grant permits to enable the development of critical minerals in Alaska, saying the Ambler mining district is “home to some of the world’s richest known copper-dominant polymetallic deposits.”

The company said in a statement that Trump’s order, which reverses the Biden administration’s rejection of the Ambler Road project, “reflects a renewed federal commitment to responsible resource development in Alaska and highlights the Ambler Road as critical infrastructure under federal policy.”

It added that the move would help to secure domestic supply chains for minerals including copper, cobalt, zinc and lead, highlighting the importance of these resources in energy infrastructure, defense technologies and manufacturing.

Continue Reading

Environment

The cheapest Tesla ever is right around the corner – is it enough to hold back GM?

Published

on

By

The cheapest Tesla ever is right around the corner – is it enough to hold back GM?

On today’s budget-conscious episode of  Quick Charge, we’re building up to the reveal of a new, more affordable Tesla Model Y tomorrow that will almost definitely not be a cheap pile of misaligned plastic body parts with inconsistent panel gaps that’s utterly incapable of turning the tide on Tesla’s global decline.

Plus, we’ve got news that Tesla is in hot water with California over its alleged mishandling of its insurance business, revisit the lies told about Cybertrucks drag racing Teslas, and look at the incredible 110% increase in EV sales over at GM that’s driving Cadillac’s renaissance.

Today’s episode is brought to you by Climate XChange, a nonpartisan nonprofit working to help states pass effective, equitable climate policies. The nonprofit just kicked off its 10th annual EV raffle, where participants have multiple opportunities to win their dream model. Visit the site at CarbonRaffle.org/Electrek to learn more.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

Advertisement – scroll for more content

New episodes of Quick Charge are recorded, usually, Monday through Thursday (most weeks, anyway). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

GEM eX launched as fully street-legal electric UTV

Published

on

By

GEM eX launched as fully street-legal electric UTV

Waev Inc. has just unveiled the GEM eX, a new electric utility vehicle designed to bridge the gap between street-legal low-speed vehicles (LSVs) and true off-road work machines. The company calls it the most versatile electric work UTV yet.

Unlike most golf cart–based UTVs or high-speed recreational rigs, the GEM eX is purpose-built for commercial, industrial, and government fleets that need to move between city streets, job sites, and rough terrain, all while staying emissions-free.

The vehicle features a top speed of 25 mph (40 km/h) and is said to be DOT street-legal as an LSV on roads up to 35 mph (56 km/h), giving it a clear advantage over most off-road-only competitors.

Power is provided by a 6.5 kW motor in a rear-wheel drive setup with a limited-slip rear differential. An 8 kWh battery provides enough juice for a claimed maximum range of 85 miles (137 km).

Advertisement – scroll for more content

The eX comes with several fleet-focused safety and utility upgrades, including 3-point seat belts, roof crush protection, backup camera, mirrors, pedestrian noise emitter, and a robust bumper system. It rolls on street, winter, or all-terrain tires, and the chassis features 9.5 inches (24 cm) of ground clearance, 6.5 inches (16.5 cm) of suspension travel, and a 50-degree approach angle for climbing curbs or crossing uneven work terrain.

Hill-hold assist and single-pedal descent control make it easy to handle on slopes, while a limited-slip differential helps maintain traction without chewing up turf.

In the back, a 1,250 lb (567 kg) composite dump box can fit a full-sized pallet and comes with gas-assist or electric lift options, while towing capacity matches that at 1,250 lb (567 kg). Optional hard doors, roll-down windows, and HVAC with heat and A/C turn it into a true all-weather workhorse.

The lithium iron phosphate battery pack is said to provide a long lifespan for extra durability in extreme climates from –20°F to 140°F (–29°C to 60°C). Charging is flexible via 120V, 240V, or J1772 public stations, and Waev backs the battery with a 7-year warranty – on par with many passenger EVs.

“We field-tested the GEM eX everywhere from Arizona deserts to Minnesota winters,” said Sven Etzelsberger, Waev’s Director of Engineering. “Every piece of customer feedback went back into this vehicle. The result is a work UTV that’s refined, reliable, and ready to go.”

The GEM platform has expanded significantly over the years, from its humble beginnings as a simple people mover to more recent adaptations into everything from ambulances and emergency vehicles to the new GEM eX electric UTV.

Priced at $24,955, the higher purchase price may be one of the few downsides to the quieter, cleaner, and easier to maintain alternative to traditional gasoline-powered UTVs.

Electrek’s Take

Waev’s new GEM eX seems to hit a sweet spot that’s been missing – a street-legal, electric work UTV tough enough for real jobs yet affordable and easy to maintain. For fleet managers juggling both paved and off-road environments, this could be a serious game-changer.

While the price is high, it comes in at significantly less than other well-known models like Polaris’ Zero-powered electric RANGER UTV.

At the same time, there are still more affordable options like those from KANDI that offer more power for a lower price. However, without GEM’s storied brand legacy and increased national support, cheaper options may not have the staying power to compete.

So sure, it’s expensive, but at least I’m glad to see more options coming to the market, especially from brands that have been around for years. Here’s to hoping for more affordable options in the future.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending