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When Representative Mike Johnson arrived in Congress in 2017, he received an important piece of advice from a fellow Louisianan, Representative Steve Scalise. Be careful about your early alliances that you make, Scalise told Johnson, as the younger Republican recalled in a C-SPAN interview that year. Avoid getting marginalized or labeled in any way.

Six years later, Johnson has followed that advice all the way to the House speakership, reaching a post that is second in line to the presidency faster than any other lawmaker in modern congressional history. Staunchly conservative and closely aligned with former President Donald Trump, the 51-year-old former talk-radio host made few headlines and fewer enemies as he climbed the ranks of his party.

With a 220209 House vote this afternoon, Johnson was able to forge a consensus that eluded three previous aspirantsincluding his own mentor, Scaliseto replace Kevin McCarthy. He earned unanimous support from Republican members, who stood and applauded when he clinched a majority of the chamber. His victory ends a weeks-long power struggle that immobilized the House as a war started in the Middle East and a government shutdown loomed.

Johnsons win was as sudden as it was improbable. Early yesterday afternoon, he lost a secret-ballot vote to become the House GOPs third speaker nominee in as many weeks. But the winner of that tally, Representative Tom Emmer of Minnesota, faced immediate backlash from social conservatives and Trump allies over his support for same-sex marriage and his 2021 vote to certify Joe Bidens election as president. More than two dozen Republicans told Emmer that they would not support him in a public floor vote, putting him in the same perilous position as the previous GOP speaker nominee, Representative Jim Jordan of Ohio. While Emmer was trying to win them over, Trump denounced him as a globalist RINO. Emmers nomination was dead after just four hours.

David A. Graham: The House Republicanss new litmus test

As the fifth-ranking House GOP leader, Johnson was next in line. Late last night, he captured the nomination in the second round of balloting. His victory was far from unanimous, but rank-and-file Republicans who had initially voted against Johnson, apparently weary after weeks of infighting, decided to support him.

Johnsons ascent is a product of both the GOPs ideological conformity and its ongoing loyalty to Trump. His record in the House is no more moderate than Jordans, whose preference for antagonism over compromise turned off an ultimately decisive faction of the party. Both Johnson and Jordan served as chairs of the Republican Study Committeethe largest conservative bloc in the Houseand played key roles in Trumps effort to overturn his defeat in 2020. Johnson enlisted Republican lawmakers to sign a legal brief urging the Supreme Court to allow state legislatures to effectively nullify the votes of their citizens. Despite Johnsons involvement, he won the support of at least one Republican, Representative Ken Buck of Colorado, who had refused to vote for Jordan, because the Ohioan didnt acknowledge the legitimacy of Bidens win.

For electorally vulnerable House Republicans, Johnsons relative anonymity was an asset. They rejected Jordan in large part because they feared that his notoriety and uncompromising style would play poorly in their districts. By contrast, Johnson, who heeded Scalises advice to avoid being marginalized or labeled, comes across as mild-mannered and polite. He could be harder for Democrats to demonize. Johnson is so little known that operatives at the Democratic Congressional Campaign Committee, which sent out a flurry of statements criticizing each successive speaker nominee, were still combing through his record and listening to old recordings of his radio show this morning. Mike Johnson is Jim Jordan in a sports coat, a spokesperson, Viet Shelton, told me. Electing him as speaker would represent how the Republican conference has completely given in to the most extreme fringes of their party.

The next few weeks will test whether the inexperienced Johnson is in over his head, and just how far to the right Johnson is willing to push his party. Youre going to see this group work like a well-oiled machine, Johnson, flanked by dozens of his GOP colleagues, assured reporters after securing the nomination last night. Hell have plenty of doubters. The new speaker will be leading the same five-vote majority that routinely rebuffed McCarthy, forcing him to rely on Democrats to pass high-stakes legislation.

Read: The real-world consequences of the House speaker fight

Congress faces a November 17 deadline to avoid a government shutdownthe result of a five-week extension in funding that ultimately cost McCarthy his job. Johnson has circulated a plan to Republicans that suggested he would support another stopgap measure, for either two or five months, to buy time for the House and Senate to negotiate full-year spending bills.

Hell also confront immediate pressure to act on the Biden administrations request for more than $100 billion in aid to Israel and Ukraine. Like Jordan, Johnson has supported aid for Israel but has opposed additional Ukraine funding. We stand with our ally Israel, Johnson said last night; he made no mention of Ukraine.

If the GOP holds on to its majority next year, Johnson would have a say in whether the House certifies the presidential winner in 2024. When a reporter asked him last night about his role in helping Trump try to overturn the 2020 election, the Republicans around him, unified and jubilant for the first time in weeks, started to jeer. A few members booed the buzzkill in the press corps. Shut up! yelled one lawmaker, Representative Virginia Foxx of North Carolina. Johnson, the conservative without enemies, merely shook his head and smiled. Next question, he replied. Next question.

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Crypto CEO accused of laundering $500 million linked to sanctioned Russian banks

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Crypto CEO accused of laundering 0 million linked to sanctioned Russian banks

Signage is seen at the United States Department of Justice headquarters in Washington, D.C., August 29, 2020.

Andrew Kelly | Reuters

Federal prosecutors in Brooklyn have charged the founder of a U.S.-based cryptocurrency payments firm with operating what they allege was a sophisticated international money laundering scheme that moved over half a billion dollars on behalf of sanctioned Russian banks and other entities.

Iurii Gugnin, a 38-year-old Russian national living in Manhattan, was arrested and arraigned Monday and ordered held without bail pending trial.

Gugnin faces a 22-count indictment accusing him of wire and bank fraud, violating U.S. sanctions and export controls, money laundering, and failing to implement legally required anti-money laundering protocols.

“The defendant is charged with turning a cryptocurrency company into a covert pipeline for dirty money, moving over half a billion dollars through the U.S. financial system to aid sanctioned Russian banks and help Russian end-users acquire sensitive U.S. technology,” Assistant Attorney General Eisenberg said in a statement.

Prosecutors said Gugnin used his companies — Evita Investments and Evita Pay — to process about $530 million in payments while concealing the origins and purposes of the funds. Between June 2023 and January 2025, he allegedly funneled the money through U.S. banks and cryptocurrency exchanges, primarily using tether, a widely used, dollar-pegged stablecoin.

Read more CNBC tech news

Clients included individuals and businesses linked to sanctioned Russian institutions such as Sberbank, VTB Bank, Sovcombank, Tinkoff, and the state-owned nuclear energy firm Rosatom.

To carry out the scheme, Gugnin allegedly misrepresented the scope of his business, falsified compliance documentation, and lied to banks and digital asset platforms about his ties to Russia. Prosecutors say he masked the source of funds through shell accounts and doctored more than 80 invoices, digitally erasing the identities of Russian counterparties.

Investigators also cite internet searches indicating he knew he was under scrutiny, including queries like “how to know if there is an investigation against you” and “money laundering penalties US.”

The Justice Department said Gugnin maintained direct ties to members of Russia’s intelligence service and officials in Iran — countries that do not extradite to the U.S.

He is also accused of helping the export of sensitive U.S. technology to Russian clients, including an anti-terrorism-controlled server.

Gugnin was profiled last fall in a Wall Street Journal article about high-net-worth renters in Manhattan, where he reportedly paid $19,000 per month for an apartment.

If convicted on bank fraud charges, he faces a statutory maximum sentence of 30 years in prison, but if convicted on all counts, Gugnin could be given a consecutive maximum sentence significantly longer than his lifetime. 

Deputy Treasury Secretary on crypto crime: Need additional tools from Congress to catch bad actors

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Sly Stone, pioneer of early funk music, dies after ‘prolonged’ battle with illness

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Sly Stone, pioneer of early funk music, dies after 'prolonged' battle with illness

Sly Stone, one of the pioneers of funk music, has died aged 82, his family have said.

As front man for his band Sly And The Family Stone, the musician fused soul, rock, psychedelia and gospel to take the sound that defined an era in the 1970s into new territory, second only to James Brown as the early founders of funk.

Several of the band’s seminal tracks became known to a wider audience when they were subsequently sampled by hip hop artists.

“Everyday People” was sampled by Arrested Development, while “Sing A Simple Song” was sampled by Public Enemy, De La Soul and Dr Dre and Snoop Dogg.

Stone’s family has said in a statement he died after a battle with chronic obstructive pulmonary disease (COPD) and other health issues.

A statement issued by his publicist on behalf of Stone’s family said: “It is with profound sadness that we announce the passing of our beloved dad, Sly Stone of Sly And The Family Stone.

“After a prolonged battle with COPD and other underlying health issues, Sly passed away peacefully, surrounded by his three children, his closest friend, and his extended family.

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“While we mourn his absence, we take solace in knowing that his extraordinary musical legacy will continue to resonate and inspire for generations to come.

“Sly was a monumental figure, a groundbreaking innovator, and a true pioneer who redefined the landscape of pop, funk, and rock music. His iconic songs have left an indelible mark on the world, and his influence remains undeniable.

“In a testament to his enduring creative spirit, Sly recently completed the screenplay for his life story, a project we are eager to share with the world in due course, which follows a memoir published in 2024.

“We extend our deepest gratitude for the outpouring of love and prayers during this difficult time. We wish peace and harmony to all who were touched by Sly’s life and his iconic music.

“Thank you from the bottom of our hearts for your unwavering support.”

Stone, born Sylvester Stewart in Texas, and his group were regulars on the US music charts in the late 1960s and 1970s, with hits such as “Dance to the Music,” “I Want to Take You Higher,” “Family Affair,” “If You Want Me to Stay,” and “Hot Fun in the Summertime”.

He played a leading role in introducing funk, an Afrocentric style of music driven by grooves and syncopated rhythms, to a broader audience.

James Brown had forged the elements of funk before Stone founded his band in 1966, but Stone’s brand of funk drew new listeners.

It was celebratory, eclectic, psychedelic and rooted in the counterculture of the late 1960s.

However, Stone later fell on hard times and became addicted to cocaine, never staging a successful comeback.

His music became less joyous in the 1970s, reflecting the polarisation of the country after opposition to the Vietnam War and racial tensions triggered unrest on college campuses and in African-American neighbourhoods in big US cities.

In 1971, Sly and the Family Stone released “There’s a Riot Goin’ On,” which became the band’s only Number 1 album.

Critics said the album’s bleak tone and slurred vocals denoted the increasing hold of cocaine on Stone.

But some called the record a masterpiece, a eulogy to the 1960s.

In the early 1970s, Stone became erratic and missed shows. Some members left the band.

But the singer was still a big enough star in 1974 to attract a crowd of 21,000 for his wedding to actress and model Kathy Silva at Madison Square Garden in New York.

Ms Silva filed for divorce less than a year later.

Sly and the Family Stone’s album releases in the late 1970s and early 1980s flopped, as Stone racked up drug possession arrests.

The band was inducted into the Rock & Roll Hall of Fame in 1993 and Stone was celebrated in an all-star tribute at the Grammy Awards in 2006.

He sauntered on stage with a blond mohawk haircut but bewildered the audience by leaving mid-song.

In 2011, after launching what would become a years-long legal battle to claim royalties he said were stolen, Stone was arrested for cocaine possession.

That year, media reported Stone was living in a recreational vehicle parked on a street in South Los Angeles.

Stone had a son, Sylvester, with Ms Silva.

He had two daughters, Novena Carmel, and Sylvette “Phunne” Stone, whose mother was bandmate Cynthia Robinson.

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BYD launches the Seal 06 EV at just $15,000 as a new price war in China erupts

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BYD launches the Seal 06 EV at just ,000 as a new price war in China erupts

Despite China’s recent warning, BYD is ramping up the pressure on rivals with another ultra-affordable electric vehicle. BYD launched the Seal 06 EV, starting at just over $15,000, as the price war in China appears to be getting out of hand.

Meet the BYD Seal 06 EV

The new Seal 06 EV arrives after the China Automobile Manufacturers Association (CAMA) issued a warning last week, stating an automaker’s recent price cuts are “triggering a new round of price war panic.”

Although the statement didn’t single out BYD, it’s pretty obvious who they are referring to. BYD cut prices (again) on May 23 by up to 34% across 22 of its most popular models. Its cheapest electric car, the Seagull EV, now starts at just 55,800 yuan ($7,800).

BYD is now turning up the heat with another low-cost EV rolling out. The Seal 06 EV officially launched in China, starting at just 109,800 yuan, or about $15,300.

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It’s available in three trims with two BYD Blade LFP battery pack options: 46.08 kWh or 56.64 kWh, providing a CLTC range of 470 km (292 miles) and 545 km (339 miles).

The electric sedan measures 4,720 mm in length, 1,880 mm in width, and 1,495 mm in height, approximately the same size as the Tesla Model 3 (4,720 mm in length, 1,850 mm in width, and 1,443 mm in height).

Like most new BYD vehicles we’ve seen, the new Seal 06 EV is equipped with its God’s Eye ADAS and DiPilot 100 smart cockpit system. However, unlike some of the more premium models, the Seal 06 uses a camera system rather than LiDAR.

The new EV joins BYD’s Seal lineup of vehicles, which includes the hybrid Seal 06 DM-i and the popular electric Seal sedan models.

Inside features a similar setup to BYD’s other new vehicles with a 15.6″ rotating center infotainment and a smaller driver display screen.

Although the Seal 06 EV starts at 109,800 yuan ($15,300), BYD promises “with over 33 hard-core standard features, the entry-level version is high-end.”

It features a few added amenities not typically found in entry-level cars, including heated and ventilated front seats, a panoramic sunroof, ambient lighting, and a surround sound stereo system. It even has a built-in refrigerator that can heat and cool.

Will it compete with Tesla’s Model 3 in the Chinese market? Although it features less range, the Seal 06 EV is half the cost. The base Model 3 RWD starts at 235,500 yuan ($32,800) in China with a CLTC range of 634 km (394 miles). Which one would you buy? Let us know in the comments.

After slashing prices again last month, another low-cost, but well-equipped BYD EV is arriving in China. Will the Seal 06 EV pressure others, like Tesla, to follow suit? We will find out shortly.

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