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Category: Economy

  • MIL-OSI: Hut 8 Operations Update for March 2025

    Source: GlobeNewswire (MIL-OSI)

    102% increase in deployed hashrate from an average of 4.6 EH/s in February 2025 to 9.3 EH/s as of the end of March 2025

    31% improvement in fleet efficiency from an average of 29.3 J/TH in February 2025 to 20.1 J/TH as of the end of March 2025

    Launch of American Bitcoin in partnership with Eric Trump

    MIAMI, April 04, 2025 (GLOBE NEWSWIRE) — Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today released its operations update for March 2025.

    “This month, we achieved strong alignment between operational momentum and long-term strategic direction,” said Asher Genoot, CEO of Hut 8. “Thanks to our team’s disciplined execution, our fleet upgrade has already more than doubled deployed hashrate to 9.3 EH/s while driving fleet efficiency down to 20.1 J/TH as of the end of March.”

    “This operational progress set the stage for a pivotal milestone in our platform strategy: the carveout of substantially all of our ASIC miners into American Bitcoin, a standalone mining entity and majority-owned subsidiary of Hut 8 purpose-built for scale, speed, and capital efficiency. We are excited to launch American Bitcoin in partnership with Eric Trump and to welcome him as a strategic advisor to Hut 8 as we scale our platform.”

    “As we advance the evolution of Hut 8 toward Power and Digital Infrastructure, we are also evolving our approach to disclosure. Going forward, Hut 8 will no longer publish monthly operational updates. Instead, we’ll provide more holistic updates on a quarterly basis or as material developments arise, aligning with disclosure standards followed by peers in the energy and digital infrastructure sectors.”

    “Importantly, the ASIC miners we now operate for American Bitcoin generate revenue for Hut 8 across two distinct reporting segments: Managed Services within Power and ASIC Colocation within Digital Infrastructure.”

    Highlights

    • Step function changes in deployed hashrate and fleet efficiency
    • Launch of American Bitcoin, a pure-play mining subsidiary formed with Eric Trump
    • Shift to institutional reporting cadence

    Operating Metrics

      March 2025 February 2025
      As of the end of the period Average during the period unless otherwise noted
    Total energy capacity under management (mining)1,3 665 MW 665 MW2
    Total deployed miners under management4 120.8K 109.2K
    Total hashrate under management5 16.9 EH/s 12.3 EH/s
         
    Bitcoin Mining6    
    Deployed miners7,8 53.8K 41.5K
    Deployed hashrate9 9.3 EH/s 4.6 EH/s
    Fleet efficiency 20.1 J/TH 29.3 J/TH
    Bitcoin produced10 88 BTC 46 BTC2
    Bitcoin held in reserve11 10,264 BTC 10,237 BTC2
         
    Managed Services12    
    Energy capacity under management 280 MW 280 MW2
    Deployed miners under management8 83.8K 84.4K
    Hashrate under management 9.3 EH/s 9.4 EH/s
         
    ASIC Colocation    
    Deployed miners under management8,13 67.0K 67.7K
    Hashrate under management14 7.6 EH/s 7.7 EH/s


    Energy Infrastructure Platform    2

            Contracted Revenue Stream(s)15
    Site Location Owner16 Power Capacity Bitcoin Mining Managed Services ASIC Colocation CPU Colocation / Data Center Cloud Power Generation
    Vega17 Texas Panhandle Hut 8 205 MW     Yes    
    Medicine Hat Medicine Hat, AB Hut 8 67 MW Yes18        
    Salt Creek Orla, TX Hut 8 63 MW Yes18        
    Alpha Niagara Falls, NY Hut 8 50 MW Yes18        
    Drumheller19 Drumheller, AB Hut 8 42 MW          
    Kelowna Kelowna, BC Hut 8 1.1 MW       Yes  
    Mississauga Mississauga, ON Hut 8 0.9 MW       Yes  
    Vaughan Vaughan, ON Hut 8 0.6 MW       Yes  
    Vancouver II Vancouver, BC Hut 8 0.5 MW       Yes  
    Vancouver I Vancouver, BC Hut 8 0.3 MW       Yes  
    King Mountain20 McCamey, TX Hut 8 (JV) 280 MW Yes18 Yes Yes    
    Iroquois Falls21 Iroquois Falls, ON Hut 8 (JV) 120 MW         Yes
    Kingston21 Kingston, ON Hut 8 (JV) 110 MW         Yes
    North Bay21 North Bay, ON Hut 8 (JV) 40 MW         Yes
    Kapuskasing21 Kapuskasing, ON Hut 8 (JV) 40 MW         Yes
    Total     1,020 MW          
    Notes:  
      (1) Energy capacity under management (mining) includes (i) 180 MW of Bitcoin Mining sites comprised of Alpha, Medicine Hat, and Salt Creek, (ii) 205 MW of ASIC Colocation capacity at Vega, which is currently under construction, and (iii) 280 MW of capacity under management at King Mountain.
      (2) As of the end of the period.
      (3) Includes 205 MW of capacity at Vega as the site is expected to host miners for BITMAIN.
      (4) Includes all miners that are racked with power and networking, rounded to the nearest 100, in Bitcoin Mining, Managed Services, and ASIC Colocation infrastructure with power and networking, including all miners at the King Mountain site.
      (5) Includes all Bitcoin Mining, Managed Services, and ASIC Colocation hashrate, including 100% of the hashrate at the King Mountain site.
      (6) Bitcoin Mining operations for Hut 8 include 100% of operations at the King Mountain site.
      (7) Deployed miners are defined as those physically racked with power and networking, rounded to the nearest 100; deployed Bitcoin Mining miners net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 45.4K during March and 33.1K during February.
      (8) Miners are rounded to the nearest 100.
      (9) Indicates the target hashrate of all deployed miners; deployed Bitcoin Mining hashrate net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 8.5 EH/s during March and 3.8 EH/s during February.
      (10) Bitcoin produced net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 78 during March and 38 BTC during February.
      (11) Includes 968 Bitcoin pledged and transferred to a third-party wallet to finance Hut’s previously announced fleet upgrade.
      (12) Managed Services includes 280 MW of capacity under management at King Mountain.
      (13) 41.9K deployed miners under management net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner during March compared to 33.8K during February.
      (14) 4.7 EH/s under management net of Hut 8’s joint venture partner’s 50% share of the King Mountain JV during March compared to 3.8 EH/s during February.
      (15) Reflects revenue sources to Hut 8, its subsidiaries, and/or joint ventures in which they participate during the period.
      (16) Owned denotes ownership of power infrastructure at owned or leased data center locations, except for HPC sites where owned denotes ownership of mechanical and electrical infrastructure at leased data center locations.
      (17) Site is currently under development.
      (18) As of April 1, 2025, as a result of the launch of American Bitcoin, the site no longer generates revenue under Bitcoin Mining and instead generates revenue under Managed Services and ASIC Colocation.
      (19) Site currently shut down; Hut 8 maintaining lease with option value of re-energizing site.
      (20) Owned by a JV between Hut 8 and a Fortune 200 renewable energy producer in which Hut 8 has an approximately 50% membership interest.
      (21) Owned by a JV between Hut 8 and Macquarie in which Hut 8 has an approximately 80% membership interest.


    About Hut 8     

    Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-potential computing. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of energy capacity under management across 15 sites in the United States and Canada: five colocation and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit www.hut8.com and follow us on X (formerly known as Twitter) at @Hut8Corp.

    Cautionary Note Regarding Forward–Looking Information

    This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the Company’s platform strategy and evolution, including the success of American Bitcoin.

    Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company’s filings with the U.S. Securities and Exchange Commission. In particular, see the Company’s recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company’s EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca.

    Hut 8 Corp. Investor Relations
    Sue Ennis
    ir@hut8.com

    Hut 8 Corp. Public Relations
    Gautier Lemyze-Young
    gautier.young@hut8.com

    The MIL Network –

  • MIL-OSI USA: Kaptur Statement on Mishandling of the Economy

    Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)

    Toledo, Ohio — Today, Congresswoman Marcy Kaptur (OH-09) released the following statement in response to the economic impact and fallout of President Trump’s tariff announcements this week.

    “America’s enemies around the world today are applauding. They also are plotting as they watch US stock markets plummet even further. Nearly $5 Trillion more in US wealth has been lost this week due to chaotic moves on tariffs arbitrarily imposed by the Trump administration. None of the tariffs that the President has proposed and implemented have ever had a single vote in the US Congress. This is unconstitutional.  

    “Where is Speaker Johnson… asleep at the wheel?  Where is the Ways and Means Committee…asleep at the switch?  The Trump Administration’s dangerous overreach is totally damaging to the US economy and unnerving to America’s Allies around the globe. Crashing the US economy is not in the short nor long term interest of the American people. What has occurred in America’s markets this week is dangerous. Descent into economic chaos is consequential to every single citizen. Retirement plans are put at risk. Jobs are put at risk. Savings are put at risk. Investments are put at risk. 

    “I have spent the majority of my time in the House trying to repair the economic damage to our economy of poorly conceived trade agreements that hollowed out the industrial and agricultural economy of our region. As a private businessman and billionaire, Donald Trump never lifted a finger to help us as industrial firms, his included, shipped jobs offshore or collapsed family farm after farm through consolidation. 

    “Now this unnecessary market implosion has been forced on the American people without a single vote in Congress. I call on Speaker Johnson to do his job. Call the House back into Special Session to address this illegal tariff regime. Our grandparents and millions of Americans suffered through the ‘Great Economic Depression’ in the last century. That is not a route any American wants to endure.”

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: Scalise: Democrats Want to Shut Down Government to Stop Trump’s Progress

    Source: United States House of Representatives – Congressman Steve Scalise (1st District of Louisiana)

    WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) appeared on Fox News’ The Story with Martha MacCallum to discuss tonight’s vote to keep the government funded as Democrats work against American families. Leader Scalise also highlighted Vice President Vance’s visit with House Republicans and shared how House Republicans are working with the White House to implement President Trump’s agenda.

    Click here or the image above to view Leader Scalise’s full interview. 
    On House Republicans working with the Trump-Vance Administration to keep the government open:“Yeah, great to be with you, Martha. When you just heard that comment from [Rep. Jim] McGovern, here he is trying to figure out how to blame Republicans as he’s also trying to engineer a government shutdown. Democrats are trying to have it both ways. Democrats are trying to unite everybody against this bill to shut the government down. You see President Trump pushing as well as all of us in our House leadership to get this bill passed. We had JD Vance, the Vice President, come and talk to our members this morning and did a great job of really laying out why it’s so important that we keep the government open and pass this bill so that we can continue on with the great work that’s being done to get our economy back on track, to get our country moving again.“There are a lot of problems that need to be worked out. You just saw President Trump again delivering by getting a peace agreement between Ukraine and Russia. President Trump is doing his job. The Democrats want to shut the government down to stop that progress. We’re going to do our job here in the House in just an hour, as you pointed out, and then let the Senate do their job.“Thomas Massie is the only hard no. We’re working, obviously, there are other members that have had some questions, which we always have when you move a big bill through the House. We had our budget just a few weeks ago, and that passed with just one vote extra. That was a bill where we were talking to members the morning and the day of the vote, which is no surprise on those kinds of votes. Today’s no different. We’re still having conversations with members, but at the end of the day, we’re going to pass the bill.”On Democrats rallying around a government shutdown:“Well, if there was a shutdown [from the Senate side], at that point, it would be Chuck Schumer’s shutdown because the Republicans are united in getting this done. Chuck Schumer has got to figure out what he’s going to do. We’ve heard him decry government shutdowns over the years. This is a clean CR to prevent a government shutdown. So if he voted to shut the government down now, how would he explain that when you compare that to his previous comments? And think about what’s in this bill, Martha. I’m not just talking about keeping the government funded. This bill also includes a pay raise for our troops. Our junior enlisted members of the military are going to be getting the largest pay raise in over 40 years. Why would you vote against that? Democrats are going to have to answer that question along with others if they vote no on this bill. Let’s go get it done.”

    MIL OSI USA News –

  • MIL-OSI USA: Scalise: Senate Must Do Their Part to Pass Budget Bill

    Source: United States House of Representatives – Congressman Steve Scalise (1st District of Louisiana)

    WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) appeared on Fox Business Network’s Varney and Co. to discuss the need for the Senate to act quickly to pass the House budget bill in order to move on President Trump’s whole agenda, following last night’s Joint Address. Leader Scalise highlighted how the resolution looks out for American families, workers, and small businesses by extending President Trump’s tax cuts and avoiding massive tax hikes that target lower and middle-income Americans.

    Click here or the image above to view Leader Scalise’s full interview. 
    On the importance of securing tax cuts:“[Trump tax cuts have] to get done. In fact, that’s why we came together in the House, Stuart, and passed the budget last week to lay the foundation not just for border and energy policy but for tax cuts. There was this debate over one bill versus two. I was always advocating for one, meaning let’s do it all in one big bill. Taxes are part of that because you’re not going to get certainty in the economy. You’ll see the stock market go up, go down, bounce all around until we have the certainty that there won’t be a massive tax hike on the American workers and small businesses of this country. That’s why it’s important we put that tax provision in the bill that also secures the border, funds the wall, border technology, energy policy, and regulatory reform.”On President Trump’s call to action for the Senate to pass the budget bill to prevent tax hikes:“Well, we continue to meet and work with them as we do with every element of our caucus on the Republican side. You go back and look at last week’s vote. Nothing is easy. We have a two-vote margin. One member voted no. If two members voted no, the bill would have been dead. And so we worked with everybody for weeks and weeks to thread that needle and get the budget passed. The Senate has it now, by the way. They need to do their part. They need to move. And I think last night was a call to action by President Trump to the Senate to say, look, the house delivered on my full agenda, it’s over in the Senate. Let’s get it moved through the Senate so we can get this agenda working for the American people. “The Democrats aren’t going to help us. They showed that last night. Sadly, they want to sit on their hands while American families face a massive tax hike. This isn’t the millionaires and billionaires we’re talking about. You’re talking about middle and low-income families.No tax on tips. The average tip worker makes about $32,000 a year. Elon Musk doesn’t make tip money, so it’s not people like him that would benefit. It’s the waiter and waitress working at your local restaurant that the Democrats don’t want to help. We will help them.”

    MIL OSI USA News –

  • MIL-OSI USA News: WEEK 11 WINS: President Trump Unleashes Economic Prosperity

    Source: The White House

    It was another highly successful week for the American people as President Donald J. Trump continues his relentless pursuit of strength, prosperity, and peace — and lays the foundation for America to be the global powerhouse for generations to come.

    Here is a non-comprehensive list of wins in week 11:

    • Illegal crossings hit a stunning new record low — down 95% over last year.
      • The number of unaccompanied illegal immigrant children also reached a record low.
      • Los Angeles Times: “California-Mexico border, once overwhelmed, now nearly empty”
      • Bloomberg: “US-Bound Migration Plunges 99% Along Panama Jungle Route”
    • President Trump continued to rid our communities of illegal immigrant criminals.
      • The Trump Administration directed the successful arrests of three illegal immigrant MS-13 gang members in Florida, wanted on first-degree murder charges, and another high-ranking MS-13 member in New York, linked to 11 murders.
      • The Trump Administration directed the transfer of 17 violent illegal immigrant terrorists from the U.S. to El Salvador.
      • The Trump Administration, with state and local law enforcement, successfully arrested more than 40 individuals in a Texas operation targeting the brutal Tren de Aragua gang.
      • The Trump Administration deported an illegal immigrant “influencer” who infamously encouraged fellow illegal immigrants to become squatters.
      • Since taking office, the Trump Administration has arrested 113,000+ illegal immigrants, deported 100,000+ illegal immigrants, and released just nine illegal immigrants into the U.S. — a staggering 99.995% decrease over the same period last year under Biden.
    • President Trump implemented his bold plan for reciprocal trade as he seeks to reverse the decades of globalization that has decimated our industrial base.
      • Coalition for a Prosperous America: “A permanent, universal baseline tariff resets the global trade environment and finally addresses the destructive legacy of decades of misguided free-trade policies. President Trump’s decision to implement a baseline tariff is a game-changing shift that prioritizes American manufacturing, protects working-class jobs, and safeguards our economic security from adversaries like China. This is exactly the type of bold action America needs to restore its industrial leadership.”
      • National Cattlemen’s Beef Association: “For too long, America’s family farmers and ranchers have been mistreated by certain trading partners around the world. President Trump is taking action to address numerous trade barriers that prevent consumers overseas from enjoying high-quality, wholesome American beef.”
    • Americans saw early results of President Trump’s declaration that the days of economic surrender are over.
      • Nissan abandoned plans to eliminate a shift at its Tennessee production facility.
      • General Motors announced it will increase truck production at its Indiana assembly plant.
      • Guardian Bikes announced it will expand its production capacity and grow its U.S.-based investment.
      • Equipment giant JCB committed to doubling the size of its new U.S. manufacturing facility.
      • Ford Motor Company and Stellantis both announced they will offer U.S. consumers employee pricing on their vehicles.
    • President Trump continued to pursue peace through strength around the world.
      • President Trump deployed additional military assets to the Middle East as a warning to the Iranian regime.
      • The Trump Administration inked a $2 billion air defense deal with Poland.
      • President Trump secured a pledge from Finland to raise its defense spending to 3% of its GDP.
      • President Trump held a successful call with Egyptian President El-Sisi to discuss the immense progress the U.S. has made in eliminating Houthi terrorists.
      • President Trump had a “productive call” with Vietnamese leader To Lam, who expressed willingness to cut the country’s tariffs on U.S. imports.
    • President Trump’s economic agenda delivered more relief for Americans.
      • The latest jobs report shattered expectations for the second straight month — highlighted by massive private sector job growth, a spike in full-time employment, wage growth, and an expanding labor market.
      • CNBC: “Private companies added 155,000 jobs in March, more than expected”
      • Wholesale egg prices continued to drop, falling to an average price of $3 per dozen — or nearly 60% since January amid the Trump Administration’s efforts to combat the avian bird flu and repopulate the chicken supply.
    • President Trump secured the release of two U.S. citizens detained in Mexico.
    • President Trump signed an executive order to crack down on price gouging and ticket scalping in the entertainment industry.
    • President Trump established the United States Investment Accelerator to attract and facilitate billion-dollar investments in the U.S.
    • The Department of Energy unveiled plans to use thousands of acres of its land — including national laboratory campuses, nuclear sites, and former enrichment plants — to quickly develop data centers that will power the artificial intelligence revolution.
    • The Department of Energy removed additional regulatory barriers on liquefied natural gas exports.
    • The Department of the Treasury launched a new public-private partnership to safeguard the financial system against illicit activities by the Iranian regime and announced additional sanctions against Iran as part of the Trump Administration’s maximum pressure strategy.
    • The Department of the Treasury leveled new sanctions against financiers of the Sinaloa drug cartel, which has flooded our country with deadly fentanyl.
    • The Department of the Treasury announced additional sanctions against a network of Houthi terrorist facilitators.
    • The Department of the Treasury withdrew burdensome, duplicative climate-based financial risk guidelines from the banking industry.
    • The Department of the Interior announced its next oil and gas lease sale in the Gulf of America, fulfilling President Trump’s pledge to unleash American energy.
    • The Department of the Interior implemented President Trump’s executive order to enhance public safety, clean up lands, protect federal parks, and preserve historic monuments in the District of Columbia.
    • The Department of Health and Human Services launched a department-wide restructuring to realign with its core mission and save taxpayers billions of dollars.
    • The Department of Health and Human Services announced states can bar welfare recipients from using taxpayer dollars to purchase unhealthy soft drinks.
    • The Department of Labor announced it will return $1.4 billion in unused COVID funds back to the U.S. Treasury.
    • The Federal Bureau of Investigation announced a record number of new agent applications under its new leadership.
    • The Department of Justice dismissed a Biden-era lawsuit against common-sense, effective Georgia election law reforms.
    • The Department of Justice launched investigations into DEI initiatives at Stanford University, University of California, Berkeley, University of California, Los Angeles, and University of California, Irvine.
    • The Department of Justice said it will pursue the death penalty for the accused cold-blooded killer of UnitedHealthcare CEO Brian Thompson.
    • The Environmental Protection Agency continued cutting wasteful spending, shuttering a politicized museum erected by the Biden Administration, consolidating office space, and eliminating duplicative grants and contracts — saving taxpayers tens of billions of dollars.
    • The Department of Defense directed a review of the military’s physical fitness standards to ensure it remains the strongest, most lethal fighting force on the planet.
    • The Department of Education and the Department of Justice launched a joint effort to ensure rapid investigations into violations of women’s civil rights.
    • The Department of Education issued a final warning to Maine over its ongoing refusal to comply with Title IX by forcing women to compete against men in athletics.
    • The Department of Education warned states with unlawful K-12 “diversity, equity, and inclusion” programs that they are at risk of losing federal funding.
    • The Department of Education encouraged state education officials to leverage federal funds to support school choice initiatives — a key part of President Trump’s education agenda.
    • The Department of Agriculture paused federal funding to Maine over its unlawful policies forcing women to compete against men in athletics.
    • The Department of Agriculture announced sweeping reforms to protect forests and boost domestic timber production.
    • The Department of Transportation announced an updated Safe Streets and Roads for All grant program, eliminating DEI and environmental justice requirements that prevented money from getting where it is needed.
    • The Department of Transportation continued making progress on the unprecedented backlog of unfulfilled grants left over by the Biden Administration.
    • The Department of Housing and Urban Development launched a streamlined website that efficiently provides vital information to Americans and saves taxpayers in the long run.
    • U.S. Citizenship and Immigration Services formally removed the option of a third gender on immigration paperwork, further restoring common sense to government.
    • Dr. Mehmet Oz was confirmed as Administrator of the Centers for Medicare and Medicaid Services and Matthew Whittaker was confirmed as the U.S. Ambassador to NATO — continuing the rapid pace at which President Trump’s nominees receive final approval.

    MIL OSI USA News –

  • MIL-OSI USA: ICE Atlanta unveils results of labor trafficking operation

    Source: US Immigration and Customs Enforcement

    ATLANTA – U.S. Immigration and Customs Enforcement, in collaboration with the FBI, the Georgia Bureau of Investigation, the Bartow County Sheriff’s Office, and other key law enforcement partners, executed a federal search warrant at Wellmade Performance Flooring and multiple residences in the Bartow County area March 26, as part of an ongoing criminal investigation.

    This operation targeted allegations of labor trafficking involving foreign nationals, as well as financial crimes linked to the employer’s business practices.

    As a result of the evidence uncovered during the operation, Wellmade Industries’ owner, Zhu Chen, and nephew, Jiayi Chen were arrested on state charges for trafficking persons for labor servitude. Additionally, dozens of victims employed at Wellmade Performance Flooring were rescued from labor exploitation.

    “This operation underscores our steadfast commitment to combat labor trafficking and hold accountable those who exploit vulnerable individuals for profit,” said ICE Homeland Security Investigations Atlanta Special Agent in Charge Steven N. Schrank, who also oversees Georgia and Alabama. “The arrests of Zhu Chen and Jiayi Chen, along with the rescue of numerous victims, reflect the tireless efforts of HSI and our law enforcement partners. We will continue to leverage all available resources to dismantle these criminal networks and bring perpetrators to justice.”

    HSI urges anyone with information related to labor exploitation, human trafficking, or financial crimes to contact law enforcement through the ICE Tip Line at 1-866-347-2423 or email HSI-DALTON-TIPS@hsi.dhs.gov. Your assistance is crucial in protecting vulnerable individuals and ensuring justice is served.

    For more information about HSI’s work, please follow us on X: @HSIAtlanta.

    MIL OSI USA News –

  • MIL-OSI Security: Malibu Man Found Guilty of Defrauding Investors Out of Over $20 Million via False Claims about Celebrity App’s Business Performance

    Source: Office of United States Attorneys

    LOS ANGELES – A Malibu man has been found guilty by a jury of defrauding investors out of more than $20 million by lying to them about his technology company’s financial performance related to a software application designed to help celebrities and social media influencers monetize their brand endorsements, the Justice Department announced today.

    Bernhard Eugen Fritsch, 63, was found guilty late Thursday of one count of wire fraud.

    According to evidence presented at a nine-day trial, Fritsch was the founder and CEO of StarClub Inc., a Santa Monica-based tech company. From 2014 to 2017, Fritsch raised more than $20 million from investors to build out the company’s app, also known as StarSite, claiming celebrities and influencers would use the technology to post content on social media sites such as Facebook. At the same time, the app would deliver advertising content and share ad revenue with the celebrity poster.

    While pitching the StarClub offering to investors, Fritsch made several false and fraudulent claims, including that StarClub was on the verge of entering commercial deals with, or obtaining investments and buyout offers from major media companies such as Disney; that StarClub had earned $15 million in revenue in 2015; and that StarClub’s current investors included major media companies and a global investment banking firm. 

    Fritsch also claimed he would use the investors’ money to build out StarClub’s channels and technology and for general corporate purposes. Instead, Fritsch used much of the investor money to enrich himself and support his luxurious lifestyle, including by purchasing luxury cars such as a McLaren and a Rolls-Royce, fixing up his yacht, and renovating his Malibu mansion, located near Carbon Beach. 

    Law enforcement seized the yacht, McLaren, and the Rolls-Royce and they are subject to forfeiture proceedings.

    One victim invested more than $20 million in StarClub over the course of two years, based on Fritsch’s false statements. This victim also introduced Fritsch to other victims who invested millions of additional funds in the company. Prosecutors estimate that Fritsch caused at least approximately $25 million in victim losses because of his scheme.

    The jury found Fritsch not guilty of a second wire fraud count. He remains free on bond.

    United States District Judge Dale S. Fischer is expected to schedule a sentencing hearing to occur in the coming months. Fritsch faces a statutory maximum sentence of 20 years in federal prison.

    The FBI investigated this matter.

    Assistant United States Attorneys Monica E. Tait, Sarah S. Lee, and Joseph L. De Leon of the Major Frauds Section are prosecuting this case.

    MIL Security OSI –

  • MIL-OSI USA: McConnell Cosponsors Bill to Restore Congress’ Constitutional Role in Trade

    US Senate News:

    Source: United States Senator for Kentucky Mitch McConnell
    WASHINGTON, D.C. – U.S. Senator Mitch McConnell (R-KY) cosponsored a bipartisan bill today to restore Congress’ constitutionally authorized role in setting and approving U.S. trade policy. The Trade Review Act of 2025 would require congressional approval of unilateral tariffs proposed by the executive branch. The bill was introduced by Senators Chuck Grassley (R-IA) and Maria Cantwell (D-WA). 
    “I have continually emphasized that a trade war is not in the best interest of American households and businesses. Regardless of intentions, tariffs are bad policy. Tariffs make it more expensive to do business in America, driving up costs for consumers an average of an additional $1,200 per year. Free trade is essential to Kentucky’s economic success. Many thousands of jobs in our biggest industries – auto manufacturing, bourbon production, and agriculture – rely on America’s export economy,” said Senator McConnell. “I am proud to join my colleagues in support of bipartisan legislation to reinstate the role of Congress in U.S. trade policy, which would require Congress to approve any new trade policies and tariffs.” 
    The bipartisan bill restores Congress’ authority and responsibility over tariffs as outlined in Article I, Section 8. Under this legislation: 
    To enact a new tariff, the president must notify Congress of the imposition of (or increase in) the tariff within 48 hours.
    The congressional notification must include an explanation of the president’s reasoning for imposing or raising the tariff, and
    Provide analysis of potential impact on American businesses and consumers.
    Within 60 days, Congress must pass a joint resolution of approval on the new tariff, otherwise all new tariffs on imports expire after that deadline.
    Congress has the ability to end tariffs at any time by passing a resolution of disapproval.
    Anti-dumping and countervailing duties are excluded.  

    MIL OSI USA News –

  • MIL-OSI New Zealand: Ethnic Communities Minister outlines key priorities

    Source: New Zealand Government

    Distinguished guests, community leaders, business representatives, and faith leaders.
    It is my pleasure as the Minister for Ethnic Communities to address you today. 
    New Zealand is home to speakers of more than 170 languages, and while I would love to greet you in each one, for now let me extend a warm welcome to you all with a simple “Kia ora. Tēnā koutou, katoa.”
    I would like to acknowledge and extend my gratitude to everyone here today.  Your dedication and contributions continue to strengthen the fabric of our nation.
    I also wish to thank those of you who have shared your insights and experiences, providing valuable perspectives on the opportunities and challenges facing New Zealand’s Ethnic Communities. Your input is critical in shaping policies and initiatives that reflect the needs of all New Zealanders.
    It is a privilege to serve as the Minister for Ethnic Communities. When the Prime Minister invited me to take on this role, I was deeply honoured and excited by the opportunity to support and champion the diverse communities that make up our nation.
    Almost one in four people in New Zealand belong to an Ethnic Community. In Auckland, that number rises to one in three. These communities contribute immeasurably to our country—bringing expertise, knowledge, and cultural vibrancy that enriches every aspect of New Zealand life.
    I was fortunate enough to become Minister just in time to host the Lunar New Year event at Parliament, which was a vibrant and wonderful celebration.
    And in a couple of days, I will be hosting Eid celebrations as well, and I look forward to recognising and celebrating the many other significant cultural events that unite our communities throughout the year. 
    Today, I would like to outline my priorities as your Minister and share my vision for how we can work together to achieve meaningful outcomes.  I will get to that shortly.  First, a bit about myself. 
    I bring my own experience to this role.  I have lived in the Middle East, Asia and Africa. I have lived and worked in many communities sharing the challenges they faced and immersing myself in the culture and history of their countries.
    I am constantly learning but my experience has helped me understand where our ethnic communities come from, what is important to them, some of the challenges and complexities of making a new country home, and the richness and value they have brought to New Zealand, whether they arrived a week ago or 100 years ago. 
    Recently at an event celebrating EID I was able to talk to 3 young 2nd generation Somali Kiwis about Somalia. The beauty of the country, rich in history and with so much potential but facing continued challenges.
    They love being Kiwis and love New Zealand but remain so proud of their Somali heritage. 
    My message is I’m a 4th generation Kiwi of Irish descent and very proud of both being Kiwi and of my Irish heritage. I have the privilege of not just looking through the eyes of our ethnic communities through a New Zealand lens but also in many cases through the country-of-origin lens. 
    I believe this experience will help me be an informed, effective, passionate Minister and advocate, providing loyal service to our Ethnic Communities.
    My priorities
    There are four key areas that I will focus on as Minister to ensure that Ethnic Communities thrive in New Zealand: economic growth, security and resilience, emergency management, and social cohesion.
    Economic growth
    First, economic growth.
    Many of you will have seen the Prime Minister’s State of the Nation speech.  In that speech, the PM focused almost exclusively on economic growth as the main priority for our Government.
    Why? Because economic growth is vital for improving quality of life. For delivering better infrastructure. For providing Kiwis with more choices. And for giving a sense that better days lie ahead.
    Ethnic Communities already make a huge contribution to our economy.
    In 2021, this contribution was estimated at $64 billion. The average value of export goods for ethnic businesses is more than double the New Zealand average.  However, there are barriers that need to be addressed to unlock the full potential of these businesses.
    At the Ethnic Xchange business symposium the Ministry facilitated last year, people identified what the Government could do to increase foreign investment.  Business owners said long waiting times with the Overseas Investment Office and a lack of coordination between agencies put off foreign investors.
    The Government is taking action. We are setting up Invest New Zealand to be a ‘one-stop-shop’ to attract and promote foreign investment. 
    We are making changes to the Overseas Investment Act to make investment rules less restrictive and more welcoming of investment.
    The changes will ensure that for many investments, decisions will be made in just 15 days, where the application isn’t contrary to New Zealand’s national interest. 
    And we announced changes to the Active Investor Plus Visa to simplify the categories, increase the scope of acceptable investments and remove other potential barriers to investment, such as the English language requirement.
    Last month, we held a global infrastructure investment summit to showcase New Zealand’s infrastructure pipeline and growth sectors.
    You may be aware that I recently travelled to India with the Prime Minister.
    During that trip I saw first-hand the value and strength of the relationship between New Zealand and India, and our trading relationship was very clear.  All of this shows the Government’s commitment to growing the economy.
    Security and resilience
    Second, I want to talk about security and resilience.
    Foreign interference affects the safety and security of everyone in New Zealand.  The Government is clear that we do not condone foreign interference in New Zealand. It is particularly concerning that some members of our Ethnic Communities are experiencing undue pressure and suppression of rights from foreign states. This is unacceptable.
    As Minister, I want to acknowledge that Ethnic Communities’ resilience is a national security asset to all of New Zealand.  I’m committed to delivering practical support that will help our communities to withstand foreign interference and to ask for help when they need it.
    We’ve released resources in 24 languages to raise awareness about foreign interference in New Zealand. Including case studies, information about your rights, keeping safe online and how to report foreign interference.
    This is only the beginning of the work. I know the Ministry for Ethnic Communities is working hard, including looking internationally, to ensure what it produces for our communities is world-class.
    While we’ve started to shine a light on foreign interference there is more to be done.  Work will continue with a range of communities to develop and release more resources later this year.
    Emergency management
    Third, I want to talk about emergency management.
    We can’t get away from the fact that New Zealand is prone to emergencies. Many of us have experienced the devastating impacts of floods, cyclones and earthquakes, and have learned about them first hand.
    Recent events have highlighted gaps in the system, particularly in how emergency responses account for the linguistic, cultural, and religious needs of Ethnic Communities.
    The support provided was often not responsive to language, cultural or religious needs. And important information in different languages was slow in getting to the people who needed it.
    The Government has committed to making changes to the emergency management system to ensure it is fit for purpose. 
    The changes will build capability and capacity, support local government and help different parts of the system to work better together.  They are based on the idea that everyone needs to be part of preparing and responding to emergencies and recovering afterwards.
    Our Ethnic Communities often stand up in times of emergencies to provide life services for the entire community.  I have asked NEMA to make sure this important role is formally recognised and codified in the new Emergency Management legislation. 
    There has been positive progress made in recent years.  The Get Ready website, which provides information about what to do before, during and after an emergency, is translated into 14 languages. This proved to be a valuable resource during Cyclone Gabrielle.
    NEMA have also told me they are close to completing a resource about what support is available and where to find it. 
    This resource can be distributed to communities in multiple languages as soon an emergency happens, rather than taking days to develop and translate.
    You can have confidence that the needs of Ethnic Communities will be reflected in NEMA’s work. 
    Social cohesion
    Finally, I want to talk about social cohesion.
    New Zealand is becoming increasingly diverse.  With Ethnic Communities expected to make up one-third of the population in the next two decades, it is essential that we build cohesive and safe communities.
    We must build an inclusive society where all communities feel a sense of belonging and where discrimination and prejudice have no place. 
    I have heard concerns from many of you about experiences of harassment, Islamophobia, and antisemitism. These are issues we must confront directly.
    I’m also particularly concerned about the impact geopolitical events overseas are having on domestic social cohesion.
    It’s important we don’t let overseas tensions and conflict play out between our communities here.
    I am committed to listening, learning and taking action to deliver relevant and tangible initiatives that will make a difference for Ethnic Communities.
    Ensuring that we don’t just talk about social cohesion but do things to actively strengthen it.
    I want to explore more ways to foster Ethnic Communities’ sense of belonging to and integration with New Zealand society.
    I would like better ways to bring faith and community leaders together to build bridges and unite communities.
    The Ministry for Ethnic Communities is actively fostering social cohesion through community engagement, interfaith dialogue, and targeted funding. And I am committed to continuing these efforts and identifying further ways to strengthen ties between communities.
    Other issues
    While some issues fall outside my direct ministerial responsibilities, I remain committed to advocating for the needs of Ethnic Communities.
    For example, mental health remains a pressing concern. 
    Research indicates that Middle Eastern, Latin American, and African youth face disproportionately high rates of mental health struggles, yet cultural barriers often prevent individuals from seeking help. 
    I will work closely with the Minister for Mental Health to ensure that culturally appropriate support services are accessible to all who need them.
    Closing
    New Zealand’s Ethnic Communities make an invaluable contribution to our society—socially, culturally, and economically. My commitment as Minister is to ensure that these contributions are recognised, valued, and celebrated.
    By working together, we can build a stronger, more inclusive nation—one where diversity is seen as a strength, and where every community has the opportunity to thrive.
    Thank you for being here today.  I look forward to continuing these important conversations and strengthening our relationships.
    Nō reira, tēnā koutou, tēnā koutou, tēnā koutou katoa.

    MIL OSI New Zealand News –

  • MIL-OSI USA: “Stable” Coins or Risky Business?

    Source: Securities and Exchange Commission

    The Division of Corporation Finance issued another installment today[1] in its ongoing statement series dedicated to jurisdictional carve-outs for crypto.  This one opines that certain so-called “stablecoins” are not securities.  What’s remarkable about this statement is not so much its ultimate conclusion, but the analysis staff relies on to get there.  The statement’s legal and factual errors paint a distorted picture of the USD-stablecoin market that drastically understates its risks.

    Much of the staff’s analysis is premised on issuer actions that supposedly stabilize price, ensure redeemability, and otherwise reduce risk.  Staff also acknowledges, albeit briefly, that some USD-stablecoins are available to retail purchasers only through an intermediary and not directly from the issuer.  But it is the general rule, not the exception, that these coins are available to the retail public only through intermediaries who sell them on the secondary market, such as crypto trading platforms.  Over 90% of USD-stablecoins in circulation are distributed in this way.[2]  Holders of these coins can redeem them only through the intermediary.  If the intermediary is unable or unwilling to redeem the stablecoin, a holder has no contractual recourse against the issuer.  The role of intermediaries, particularly unregistered trading platforms, as primary distributors of USD-stablecoins poses a panoply of significant, additional risks that staff does not consider.[3]

    Staff fails to unpack the consequences of this market structure and how it affects risk.  The fact that intermediaries conduct most retail USD-stablecoin distribution and redemption significantly diminishes the value of the issuer actions staff relies on as “risk-reducing features.”  Key among these features is an issuer asset reserve that staff describes as designed to “satisfy fully their redemption obligations,” i.e., with enough assets to pay out a $1 redemption for each outstanding coin.  But generally speaking, as described above, issuers have no “redemption obligations” to retail coin holders.  These holders have no interest in or right to access the issuer’s reserve.  If they redeem coins through an intermediary, they are paid by the intermediary, not from the issuer’s reserve.  The intermediary is not obligated to redeem a coin for $1 and will instead pay the holder the market price.  Retail coin holders therefore do not, as staff claims, have a “right[]” to “redemption for USD on a one-for-one basis.”

    It is also grossly inaccurate for staff to suggest that just because an issuer’s reserve is, at some point, somehow valued at or above the par value of its outstanding coins, the issuer has sufficient reserves to satisfy unlimited redemption requests (from intermediaries or coin holders) at any future time.  First, the issuer’s overall financial health and solvency cannot be judged by the value of its reserve, which tell us nothing about its liabilities, risk from proprietary financial activities, and so forth.  Second, there is always a risk, particularly in times of market stress or if the price of a stablecoin drops, of a “run” scenario where intermediaries and/or issuers cannot honor all redemption requests in real time.[4]  This leads to a “self-reinforcing cycle of redemptions and fire sales of reserve assets.”[5]  Major run events have already occurred with USD-pegged stablecoins, with significant consequences for the broader stablecoin market and the traditional banking system.[6] 

    Staff further overstates the assurance value of issuer reserves by claiming that some issuers publish reports, called “proof of reserves,” that “demonstrate that a stablecoin is backed by sufficient reserves.”  As the SEC and the PCAOB have warned, proof of reserve reports demonstrate no such thing.  Their content is unregulated, not subject to PCAOB standards, and determined entirely at the issuer’s discretion.  They are “typically [ ] not designed to” and “often provide no assurance as to the reliability of the information provided.”[7]  Other regulators have similarly warned of the general lack of transparency and reliability in how stablecoin reserves are invested, managed, and valued.[8]  Whatever claims issuers make about their reserves, stablecoin holders have unfortunately learned the hard way that these claims often turn out to be false.[9]

    Understanding these facts, it becomes clear that as a legal matter, staff is simply wrong that the issuer’s reserve is a “risk-reducing” feature under the Reves test. Risk-reducing features under Reves include collateralization, insurance, or federal regulatory oversight.[10]  Because retail coin holders generally have no right to access the issuer’s reserve to guarantee redemption at any price, let alone $1, the reserve does not “collateralize” stablecoins held by the retail public.[11]  Without a redemption right against the issuer, a retail stablecoin holder has no claim in a bankruptcy proceeding, as an unsecured creditor or otherwise, if the issuer becomes insolvent.[12]  Just like the product at issue in Reves, USD-stablecoins are “uncollateralized and uninsured.”[13]  Even intermediaries responsible for retail redemptions may not be secured creditors of the issuer, meaning they too would have limited or no ability to recover directly from the reserve if the issuer declares bankruptcy.  The contractual arrangements between issuers and intermediaries are bespoke and generally non-public, leaving retail coin holders (and regulators) in the dark.

    The statement also presents a practical problem:  what if any existing stablecoins actually meet the stated criteria and fall within the staff’s definition of “Covered Stablecoin”?  It is hard to even understand what staff’s criteria are because the statement is written as though issuers have redemption obligations directly to retail coin holders when in general, they do not.  For example, staff claims that issuers stabilize the price because they “mint[ ] and redeem[ ] Covered Stablecoins on a one-for-one basis with USD at any time and in unlimited quantities.”  But staff fails to explain if or how that occurs in the typical case of a USD-stablecoin that is purchased and redeemed by retail holders only through intermediaries.  To the extent distribution and redemption affect the retail market price, it is the intermediaries, not the issuers, whose actions matter.  What are the practices and obligations of those intermediaries?  Is that information disclosed to the retail public?  Staff gives us no idea.

    These legal and factual flaws in the staff’s statement do a real disservice to USD-stablecoin holders, and, given the central role of stablecoins in the crypto markets, to crypto investors more generally.  They feed a dangerous industry narrative about the supposed stability and safety of these products.  This is perhaps best highlighted by the staff’s choice to parrot a highly misleading marketing term, “digital dollar,” to describe USD-stablecoins.  Make no mistake:  there is nothing equivalent about the U.S. dollar and unregulated, privately-issued crypto assets that are opaque (clearly even to the staff), uncollateralized, uninsured, and laden with risk at every step of their multi-layer distribution chain.  They are risky business. 

    [1] The timing of today’s statement – issued as the country is reeling from market turmoil not seen since the early days of COVID-19 – calls into question how the Commission is choosing to deploy its increasingly limited staff resources.

    [3] See IOSCO Policy Recommendations for Crypto and Digital Asset Markets Final Report, pp. 9, 71-72 (Nov. 16, 2023) (“The majority of stablecoin distribution[ ] [ ] occurs on secondary markets through [crypto asset service providers] and clients may not be aware of what rights they have and do not have against a stablecoin issuer … [i]n many stablecoin structures, the stablecoin issuer will allow only larger institutions and crypto-asset trading platforms to interact directly with the stablecoin issuer to create and to redeem stablecoins … [this] creates conflicts [of interest between the issuer and intermediary] and gives rise to potential misuse of inside information, market manipulation and other misconduct”); SEC Office of Investor Education and Advocacy, Exercise Caution with Crypto Asset Securities:  Investor Alert (Mar. 23, 2023) (“crypto asset securities trading platforms or other intermediaries (such as so-called ‘crypto exchanges’) may offer a combination of services that are typically performed by separate firms that may each be required to be separately registered with the SEC, a state regulator, or a SRO.  The commingling of these functions, exchange, broker-dealer and custodial functions, for example, creates conflicts of interest and risks for investors ….”).

    [10] See Reves v. Ernst & Young, 494 U.S. 56, 69 (1990).

    [11] See Black’s Law Dictionary, “Collateral” (12th ed. 2024) (defined as “[p]roperty that is pledged as security against a debt; the property subject to a security interest or agricultural lien.” (citing UCC Article 9-102(a)(12)); SEC v. Wallenbrock, 313 F.3d 532, 539 (9th Cir. 2002) (“here the so-called collateralization appears to be a fiction … investors had no way of reaching the assets.”).

    [13] See Reves, 494 U.S. at 69.

    MIL OSI USA News –

  • MIL-OSI: First Federal Savings Bank Awards $27,500 in Funds to Habitat for Humanity Through FHLBank Indianapolis Grant Program

    Source: GlobeNewswire (MIL-OSI)

    EVANSVILLE, Ind., April 04, 2025 (GLOBE NEWSWIRE) — First Federal Savings Bank, a member bank of the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis), awarded Habitat for Humanity $27,500 in grant funds through the Community Multiplier – Member Match Program.

    The $27,500 grant will support Habitat for Humanity’s educational assistance programs for current and prospective homeowners.

    “We are proud to partner with Habitat for Humanity in support of their educational assistance programs for current and prospective homeowners,” said Courtney Schmitt, VP, Marketing Manager at First Federal Savings Bank. “Homeownership is a cornerstone of financial stability, and by investing in these programs, we are helping individuals and families build stronger, more secure futures. This partnership reflects our ongoing commitment to empowering communities through financial education and support.”

    Beth Folz, Executive Director of Habitat for Humanity of Evansville stated “We were excited to hear from First Federal Savings Bank that we had been selected to receive this wonderful grant from the Community Multiplier program. We are thrilled for the future Habitat homeowners who will be impacted by the financial education programs that we can offer due to this tremendous support.”

    The Community Multiplier – Member Match program is FHLBank Indianapolis’ newest program offering, designed to support targeted affordable housing initiatives that fall outside of FHLBank Indianapolis’ other grant programs. Community Multiplier offers grants between $25,000 and $125,000 for non-profit organizations headquartered in Indiana or Michigan who partner with an FHLBank Indianapolis member financial institution on targeted affordable housing initiatives. With a 10% matching funds commitment from the member financial institution, FHLBank Indianapolis is providing grants between $25,000 and $125,000. The program opened March 27, 2025 with a $5 million allocation and is available until October 1, 2025, or until funds are exhausted.

    You’re Invited

    To celebrate this meaningful partnership, First Federal Savings Bank and Habitat for Humanity of Evansville will host a press conference and check presentation ceremony on Wednesday, April 9 at 3:30 PM CST at First Federal Savings Bank’s corporate headquarters located at 5001 Davis Lant Drive Evansville, IN 47715. We invite the members of the media, community partners, and the public to join us as we present a $27,500 contribution in support of Habitat for Humanity’s mission to provide educational assistance programs for current and prospective homeowners

    About First Federal Savings Bank Member FDIC Equal Housing Lender

    First Federal Savings Bank was established on Evansville, Indiana’s Westside in 1904. A community bank offering eight locations in Posey, Vanderburgh, Warrick, and Henderson County. First Federal Savings Bank is also proud to offer Home Building Savings Bank locations in Daviess and Pike County.

    Federal Home Loan Bank of Indianapolis: Building Partnerships. Serving Communities.

    FHLBank Indianapolis is a regional bank included in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support the housing and small business needs of members’ customers. FHLBanks are privately capitalized and funded and receive no Congressional appropriations. FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. For more information about FHLBank Indianapolis, visit www.fhlbi.com and follow the Bank on LinkedIn and X (formerly known as Twitter) at @FHLBankIndy.

    The MIL Network –

  • MIL-OSI: Pender Growth Fund Provides Financial Highlights and Company Updates

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, April 04, 2025 (GLOBE NEWSWIRE) — (TSXV: PTF) Pender Growth Fund Inc. (the “Company”) today announced its financial and operational results for the year ended December 31, 2024.

    Financial Highlights

    • Net income was $55,473,592 for the year ended December 31, 2024 (December 31. 2023 – Net income $1,029,528) due to positive investment performance during the year.
    • Net income per Class C common share (“Share”) for the year ended December 31, 2024 was $7.61 (December 31. 2023 – Net income per Share $0.14).
    • The Company’s total shareholders’ equity increased by $53,195,329, from $69,886,178 at December 31, 2023 to $123,081,057 as at December 31, 2024, due to net income from positive investment performance of $55,473,592 during the year, offset by shares repurchase of $2,278,263 under the Company’s Normal Course Issuer Bid (“NCIB”).
      • Shareholders’ equity was $17.25 per Share as at December 31, 2024 (December 31, 2023 – $9.48).
      • 7,133,229 shares were outstanding as at December 31, 2024 (December 31, 2023 – 7,368,229), a decrease of 235,000 shares as a result of shares repurchase under the NCIB, which was renewed on February 15, 2024.
      • At December 31, 2024, 64.7% of the investment portfolio was made up of public companies and 35.3% of private companies and Net Assets were 56.9% publicly listed companies, 31.1% private unlisted companies, and 12.0% cash and other assets net of liabilities.
      • Management Expense Ratio (“MER”) before performance fees was 2.65% for the year ended December 31, 2024, up 0.34% compared to 2.31% in 2023.
    PERFORMANCE

    (Based on Shareholders’ Equity)

    		 3 Month 1 Year 3 Year 5 Year Since Inception
    Class C 14.2 % 81.9 % -12.9 % 29.9 % 21.4 %


    Portfolio Highlights

    The completion of the sale of Copperleaf in the third quarter of 2024 and the resulting injection of $70 million cash, substantially changed the Company’s portfolio.

    In October, the Company closed the purchase of four private technology companies from Pluribus Technologies. The acquisition was made by Pender Software Holdings (“PSH”) a new entity owned 86% by Pender, with the balance owned by Acorn Partners Inc. (“Acorn”) and its principals. Acorn (www.acorncappartners.com) is a Vancouver based company that invests in tech companies and provides advisory services to clients. In early 2025, Acorn was merged into PSH and the shares of PSH formerly held by the Acorn were transferred to its principals. The four software companies acquired are each cash flow positive and stable. PSH is leaving existing management in place to facilitate a focus on operational excellence with strategic support and access to capital managed by Pender and Acorn. Ampere Chan, the founder and CEO of Acorn is the CEO of PSH. Pender intends to use PSH as a vehicle for investing in additional software companies. We believe this new enterprise has great potential. 

    With the significant run up in equities over the last year that has pushed large cap equity valuations to multi year highs, we remain vigilant and prepared for increased volatility as we enter 2025. The general trend in inflation continues to moderate towards central bank target levels and expectations are for continued interest rates cuts, albeit at a more moderate pace. Potential headwinds could also include trade policies, particularly tariffs, which could weigh on corporate earnings, and fiscal challenges in developed economies as government deficit spending remains high. There is always the potential for volatility as market expectations shift after such a strong run in risk assets in the past few quarters.

    We believe that the Company continues to be well-positioned today to pursue its investment objectives and we continue to find attractive investments opportunities as valuations in micro and small cap stocks in North America remain attractive despite the recent rally this year.

    Investment results may be affected by future developments and new information that may emerge about broad economic conditions, inflation, central bank measures, geopolitical risks, market risk, unexpected judicial or regulatory proceedings and other global events, factors that are beyond the Company’s control.

    While macro events have driven investor sentiment, we have remained focused on our bottom-up fundamental research to identify companies that can thrive in a wide range of economic scenarios. We believe that this environment provides compelling opportunities for long-term focused investors and that the Company is well-positioned to continue to pursue its investment objectives.

    In 2024, as always, we worked closely with our private portfolio companies and certain of our public portfolio companies.

    Other Highlights

    We continued to acquire shares of the Company in the market under our NCIB because we believe the shares are trading at a discount to their intrinsic value. On February 20, 2025, the Company launched a new NCIB, under which the Company may purchase a maximum of 587,342 shares, or 10% of the Company’s public float on launch date, during the one-year period ending February 19, 2026.

    We encourage you to refer to the Company’s MD&A and the annual audited financial statements for the year-ended December 31, 2024, and other disclosures available under the Company’s profile at www.sedarplus.ca for additional information.

    About the Company        

    Pender Growth Fund Inc is an investment firm. Its investment objective is to achieve long-term capital growth. The Company utilizes its small capital base and long-term horizon to invest in unique situations, primarily small cap, special situations, and illiquid public and private companies. The firm invests in public and private companies principally in the technology sector. It trades on the TSX Venture Exchange under the symbol “PTF” and posts its NAV on its website, generally within five business days of each month end.

    Please visit www.pendergrowthfund.com.

    For further information, please contact:

    Tony Rautava

    Corporate Secretary
    Pender Growth Fund Inc.
    (604) 653-9625
    Toll Free: (866) 377-4743
    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Forward-Looking Information

    This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of the Company and the environment in which it operates. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on the Company’s expectations, estimates, forecasts and projections and include, without limitation, statements regarding the Company’s decreased portfolio risk and future investment opportunities. The forward-looking statements in this news release are based on certain assumptions; they are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading “Risk Factors” in the Company’s annual information form available at www.sedarplus.ca. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

    The MIL Network –

  • MIL-OSI: BitMart Joins Global Dollar Network to Advance Trusted Stablecoin Adoption

    Source: GlobeNewswire (MIL-OSI)

    Mahe, Seychelles, April 04, 2025 (GLOBE NEWSWIRE) —  BitMart, a global leader in cryptocurrency trading, is proud to announce its strategic partnership with Paxos, the issuer of Global Dollar (USDG), through its participation in the Global Dollar Network (GDN). This collaboration marks a significant milestone in BitMart’s commitment to accelerating adoption of trusted, stable, and enterprise-grade digital assets.

    The Global Dollar Network is an open network of market leaders working collectively to build a stablecoin-enabled, accessible financial system. USDG, the digital asset powering this network, is a U.S. dollar-backed stablecoin issued by Paxos Digital Singapore Pte. Ltd. (PDS), a financial institution under prudential oversight by the Monetary Authority of Singapore (MAS). USDG is substantively compliant with MAS’s upcoming stablecoin framework.

    As a newly onboarded GDN partner, BitMart will not only enable users to purchase USDG directly on its platform but also facilitate broader trading options by introducing USDG trading pairs in the near future. This integration enhances the utility and accessibility of USDG across global markets.

    For more details on USDG and its terms of use, please visit: https://www.paxos.com/terms-and-conditions/stablecoin-terms-conditions

    About BitMart
    BitMart is the premier global digital asset trading platform. With millions of users worldwide and ranked among the top crypto exchanges on CoinGecko, it currently offers 1,700+ trading pairs with competitive trading fees. Constantly evolving and growing, BitMart is interested in crypto’s potential to drive innovation and promote financial inclusion. To learn more about BitMart, visit their Website, follow their X (Twitter), or join their Telegram for updates, news, and promotions. Download BitMart App to trade anytime, anywhere.

    About Global Dollar (USDG)
    Global Dollar (USDG) is a trusted U.S. dollar-backed stablecoin issued by Paxos Digital Singapore Pte. Ltd., which is subject to prudential oversight by the Monetary Authority of Singapore. USDG powers the Global Dollar Network, an enterprise-grade network of market leaders accelerating stablecoin adoption.

    Disclaimer:
    Use of BitMart services is entirely at your own risk. All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results.

    The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.

    The MIL Network –

  • MIL-OSI USA: Attorney General Bonta Announces Settlement with California-Based HomeOptions over Predatory Real Estate Scheme

    Source: US State of California Department of Justice

    HomeOptions must terminate all liens and contracts in California and pay over $570,000 in penalties and restitution to homeowners 

    OAKLAND — California Attorney General Rob Bonta today announced reaching a settlement with HomeOptions, a realty company based in Oakland that engaged in a predatory real estate scheme impacting over 500 California homeowners, and its Chief Executive Officer. In partnership with Napa County District Attorney Allison Haley and Santa Barbara County District Attorney John T. Savrnoch, Attorney General Bonta launched an investigation into HomeOptions that found the company lured financially vulnerable homeowners with an immediate payment of a couple hundred to a couple thousand dollars in exchange for the exclusive right to be the homeowner’s real estate listing agent for the next 20 years, entered into unlawful contracts with those homeowners, deceptively recorded liens against the homeowners’ homes, and forced homeowners to pay tens of thousands of dollars in illegal fees to remove those liens so that they could transfer title or obtain home loans. HomeOptions misrepresented the nature of its agreements, included unlawful breach and early termination penalty terms in its contracts, and violated California’s Real Estate Law, state and federal telemarketing laws, and federal lending laws. As part of the settlement, HomeOptions has agreed to terminate all liens and contracts in California, pay full restitution to victims, and pay civil penalties. 

    “HomeOptions’ business practices can be summed up in one word: predatory. This settlement holds the company accountable and provides immediate relief to California homeowners,” said Attorney General Bonta. “Homeowners will regain full control over their homes, without having to worry about a HomeOptions lien ever again. And homeowners who have already paid early termination penalties to HomeOptions will get all of their money returned. Let there be no doubt that, in California, we will enforce the law against unscrupulous businesses that exploit vulnerable consumers.”

    “Napa will not stand mute to the predation of those who victimize our citizenry,” said Napa County District Attorney Allison Haley. “I am gratified that by our action, all the exclusive listing agreements with California consumers are rendered void and unenforceable.”

    “Homeowners are entitled to be safe in their homes and not fall prey to scams intended to extract their home equity,” said Santa Barbara County District Attorney John Savrnoch. “This settlement rightly provides full restitution to all victims and prevents HomeOptions and its CEO from engaging in these practices again.” 

    The settlement announced today requires HomeOptions to: 

    • Terminate all liens that it recorded on California homeowners’ homes. Because these liens clouded title, homeowners often could not transfer title or obtain home loans without paying HomeOptions to terminate those liens. By requiring termination of all liens, the settlement will likely save impacted homeowners tens of thousands of dollars each.
    • Void all contracts that it entered into with California homeowners. These contracts required homeowners to pay steep fees if they did not use HomeOptions real estate agents. By voiding these contracts and requiring HomeOptions to stop any enforcement or collection efforts on these contracts, the settlement allows homeowners to list their homes with any real estate agent of their choosing and releases them from all obligations and payments to HomeOptions.
    • Pay full restitution, totaling over $400,000, to homeowners who previously paid HomeOptions illegal fees, including to remove their liens.
    • Pay approximately $170,000 in civil penalties.

    California has passed legislation to prohibit predatory schemes like the one HomeOptions engaged in. On October 8, 2023, Governor Gavin Newsom signed into law AB 1345, which Attorney General Bonta sponsored and went into effect on January 1, 2024. AB 1345 imposes a two-year limit on residential exclusive listing agreements and prohibits the filing of those agreements with a county recorder. HomeOptions ceased entering into California homeowner agreements in 2024. 

    A copy of the complaint can be found here. A copy of the stipulated judgment can be found here.

    MIL OSI USA News –

  • MIL-OSI: USCB Financial Holdings, Inc. to Announce First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, April 04, 2025 (GLOBE NEWSWIRE) — USCB FINANCIAL HOLDINGS, INC. (the “Company”) (NASDAQ: USCB) will report financial results for the quarter ended March 31, 2025 after the market closes on Thursday, April 24, 2025.

    A conference call to discuss quarterly results will also be held with Chairman, President, and CEO, Luis de la Aguilera, Chief Financial Officer, Robert Anderson, and Chief Credit Officer, William Turner, details which are provided below.

    Live Conference Call and Audio Webcast

    Date: Friday, April 25, 2025
    Time: 11:00am Eastern Time
    Dial-in: (833) 816-1416 (toll free in the U.S.)
    Passcode: USCB Financial Holdings Call

    A live audio webcast of the call will be available with the press release and slides on the investor relations page of the Company’s website at https://investors.uscenturybank.com/. Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the internet broadcast.

    A replay of the webcast will be archived on the investor relations page shortly after the conference call has ended.

    About USCB Financial Holdings, Inc.

    USCB Financial Holdings, Inc. is the bank holding company for U.S. Century Bank. Established in 2002, U.S. Century Bank is one of the largest community banks headquartered in Miami, and one of the largest community banks in the state of Florida. U.S. Century Bank is rated 5-Stars by BauerFinancial, the nation’s leading independent bank rating firm. U.S. Century Bank offers customers a wide range of financial products and services and supports numerous community organizations, including the Greater Miami Chamber of Commerce, the South Florida Hispanic Chamber of Commerce, and ChamberSouth. For more information or to find a U.S. Century Bank banking center near you, please call (305) 715-5200 or visit www.uscentury.com.

    Contacts:

    Investor Relations
    InvestorRelations@uscentury.com

    Media Relations
    Martha Guerra-Kattou
    MGuerra@uscentury.com

    The MIL Network –

  • MIL-OSI: Glacier Bancorp, Inc. Announces First Quarter Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    KALISPELL, Mont., April 04, 2025 (GLOBE NEWSWIRE) — Glacier Bancorp, Inc. (NYSE: GBCI) will report first quarter financial results after the market closes on April 24, 2025. A conference call for investors is scheduled for 11:00 a.m. Eastern Time on Friday, April 25, 2025.

    Please note that our conference call host no longer offers a general dial-in number.

    Investors who would like to join the call may now register by following this link to obtain dial-in instructions: https://register-conf.media-server.com/register/BI3016c4b5b4bd4b0aac8f022e74f4c1d4

    To participate via the webcast, log on to: https://edge.media-server.com/mmc/p/ejk9q5pb

    If you are unable to participate during the live webcast, the call will be archived on our website, www.glacierbancorp.com.

    Glacier Bancorp, Inc. is the parent company for Glacier Bank and its bank divisions: Altabank (American Fork, UT) Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d’Alene, ID), The Foothills Bank (Yuma, AZ), Valley Bank (Helena, MT), Western Security Bank (Billings, MT), and Wheatland Bank (Spokane, WA).

    Randall M. Chesler, CEO
    (406) 751-4722
    Ron J. Copher, CFO
    (406) 751-7706

    The MIL Network –

  • MIL-OSI: PIMCO Closed-End Funds Announce Proposed Reorganizations

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 04, 2025 (GLOBE NEWSWIRE) — The Board of Trustees of each of the following funds has approved the following proposals to reorganize the PIMCO closed-end municipal funds (each, a “Merger” and collectively, the “Mergers”), subject to the various shareholder approvals and other contingencies described below:

    • National Mergers: PIMCO Municipal Income Fund (NYSE: PMF) and PIMCO Municipal Income Fund III (NYSE: PMX) with and into PIMCO Municipal Income Fund II (NYSE: PML);
    • New York Mergers: PIMCO New York Municipal Income Fund (NYSE: PNF) and PIMCO New York Municipal Income Fund III (NYSE: PYN) with and into PIMCO New York Municipal Income Fund II (NYSE: PNI); and
    • California Mergers: PIMCO California Municipal Income Fund II (NYSE: PCK) and PIMCO California Municipal Income Fund III (NYSE: PZC) with and into PIMCO California Municipal Income Fund (NYSE: PCQ).

    If the Mergers are consummated, each of PML, PNI, and PCQ (each, an “Acquiring Fund”) would acquire all of the assets and liabilities of, as applicable, PMF, PMX, PNF, PYN, PCK, and PZC (each, an “Acquired Fund”), and the common shares of each Acquired Fund would, in effect, be exchanged for new common shares of the corresponding Acquiring Fund with an equal aggregate net asset value. In addition, each Fund has one or more series of Remarketable Variable Rate MuniFund Term Preferred Shares (“RVMTP Shares”) outstanding. As part of each Merger, the outstanding RVMTP Shares of each Acquired Fund are expected to, in effect, be exchanged for RVMTP Shares of the corresponding Acquiring Fund with an aggregate liquidation preference equal to, and other terms that are substantially identical to, the corresponding series of RVMTP Shares of each such Acquired Fund.

    Each Merger is subject to approval by the applicable Acquiring Fund’s common shareholders to issue additional common shares (the “Merger Shares”) to be distributed to the Acquired Funds’ shareholders and, with respect to each Acquired Fund, the consent to the Merger of its RVMTP shareholders, as applicable. No Merger will be contingent upon the consummation of any other Merger. Common shareholders of the Acquiring Funds will be asked to vote on the applicable proposals at a Special Meeting of shareholders expected to take place on or about June 27, 2025, at a time and location to be stated in the proxy statement/prospectus (the “Shareholder Meeting”). A proxy statement/prospectus containing information about the meeting and the proposed reorganizations is expected to be mailed to each Acquiring Fund’s shareholders of record as of April 14, 2025. The proxy statement/prospectus will also be distributed to Acquired Fund shareholders to serve as a prospectus and an information statement for the Acquiring Fund Merger Shares. No action is needed from common shareholders of the Acquired Funds.

    Following the Mergers, each Acquiring Fund will continue to be managed in accordance with its existing investment objective and strategies:

    • PML seeks to provide current income exempt from federal income tax.
    • PNI seeks to provide current income exempt from federal, New York State and New York City income tax.
    • PCQ seek to provide current income exempt from federal and California income tax.

    The proxy statement/prospectus will include a comparison of, and more information regarding, the Acquiring Funds and their applicable Acquired Funds’ investment objective and strategies and other policies.

    It is currently expected that the Mergers will be completed on or about August 1, 2025, subject to PIMCO’s market outlook and operational considerations, the shareholder approvals described above and the satisfaction of applicable regulatory requirements and customary closing conditions.

    Further information regarding the proposals is contained in a proxy statement/prospectus that has been filed publicly and will be mailed to shareholders in the near future once declared effective.

    About PIMCO

    PIMCO was founded in 1971 in Newport Beach, California and is one of the world’s premier fixed income investment managers. Today we have offices across the globe and 3,000+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.

    This press release is not intended to, and does not, constitute an offer to purchase or sell shares of the funds; nor is this press release intended to solicit a proxy from any shareholder of the funds. The solicitation of the purchase or sale of securities or proxies to effect each Merger described herein will only be made by a final, effective registration statement, which will include a definitive joint proxy statement/prospectus, after the registration statement is declared effective by the Securities and Exchange Commission (“SEC”).

    This press release references a joint proxy statement/prospectus filed by each Acquiring Fund and to be distributed as a proxy statement/prospectus to the shareholders of each Acquiring Fund and as a prospectus and an information statement to the shareholders of each Acquired Fund. The joint proxy statement/prospectus may be amended or withdrawn. The joint proxy statement/prospectus has not yet been declared effective by the SEC and will not be distributed to shareholders of the funds unless and until it is declared effective by the SEC.

    Investors and shareholders are urged to read the applicable joint proxy statement/prospectus and any other relevant documents when they become available because they will contain important information about the proposed reorganizations. After it is filed, free copies of the joint proxy statement/prospectus will be available on the SEC’s website at www.sec.gov.

    Except for the historical information and discussions contained herein, statements contained in this press release constitute forward-looking statements. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO’s sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statement.

    This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America LLC in the United States and throughout the world. PIMCO Investments LLC, 1633 Broadway, New York, NY 10019, is a company of PIMCO. ©2025, PIMCO.

    For information on PIMCO Closed-End Funds:
    Financial Advisors: (800) 628-1237
    Shareholders: (844) 337-4626 or (844) 33-PIMCO
    PIMCO Media Relations: (212) 597-1054

    The MIL Network –

  • MIL-OSI: National Bank Holdings Corporation Announces Date for 2025 First Quarter Earnings Release

    Source: GlobeNewswire (MIL-OSI)

    DENVER, April 04, 2025 (GLOBE NEWSWIRE) — National Bank Holdings Corporation (NYSE: NBHC) expects to report its first quarter financial results after the markets close on Tuesday, April 22, 2025. Management will host a conference call to review the results at 11:00 a.m. Eastern Time on Wednesday, April 23, 2025. Interested parties may listen to this call by dialing (877) 400-0505 using the participant passcode of 7036929 and asking for the NBHC Q1 2025 Earnings Call. A recording of the call will be available approximately four hours after the call’s completion on the Company’s website at www.nationalbankholdings.com by visiting the investor relations area.

    About National Bank Holdings Corporation

    National Bank Holdings Corporation is a bank holding company created to build a leading community bank franchise delivering high quality client service and committed to stakeholder results. Through its bank subsidiaries, NBH Bank and Bank of Jackson Hole Trust, National Bank Holdings Corporation operates a network of over 90 banking centers, serving individual consumers, small, medium and large businesses, and government and non-profit entities. Its banking centers are located in its core footprint of Colorado, the greater Kansas City region, Utah, Wyoming, Texas, New Mexico and Idaho. Its comprehensive residential mortgage banking group primarily serves the bank’s core footprint. Its trust business is operated in its core footprint under the Bank of Jackson Hole Trust charter. NBH Bank operates under a single state charter through the following brand names as divisions of NBH Bank: in Colorado, Community Banks of Colorado and Community Banks Mortgage; in Kansas and Missouri, Bank Midwest and Bank Midwest Mortgage; in Utah, Texas, New Mexico and Idaho, Hillcrest Bank and Hillcrest Bank Mortgage; and in Wyoming, Bank of Jackson Hole and Bank of Jackson Hole Mortgage. Additional information about National Bank Holdings Corporation can be found at www.nationalbankholdings.com.

    For more information visit: cobnks.com, bankmw.com, hillcrestbank.com, bankofjacksonhole.com, or nbhbank.com. Or connect with any of our brands on LinkedIn.

    Contact:  
    Analysts/Institutional Investors:
    Emily Gooden, 720-554-6640
    Chief Accounting Officer and Investor Relations Director
    ir@nationalbankholdings.com

    Nicole Van Denabeele, 720-529-3370
    Chief Financial Officer
    ir@nationalbankholdings.com

    		 Media:
    Jody Soper, 303-784-5925
    Chief Marketing Officer
    Jody.Soper@nbhbank.com
       

    Source: National Bank Holdings Corporation

    The MIL Network –

  • MIL-OSI: Grayscale Investments® Announces Rebalancing of Multi-Asset Funds for First Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    STAMFORD, Conn., April 04, 2025 (GLOBE NEWSWIRE) — Grayscale Investments®, a leading crypto asset management firm, offering more than 30 crypto investment products, and manager of Grayscale® Digital Large Cap Fund (OTCQX: GDLC) (Digital Large Cap Fund), Grayscale® Decentralized Finance (DeFi) Fund (OTCQB: DEFG) (DeFi Fund), Grayscale® Smart Contract Fund (GSC Fund), and Grayscale® Decentralized AI Fund (AI Fund), today announced the updated Fund Component weightings for each product in connection with their respective first quarter 2025 reviews.

    In accordance with the CoinDesk Large Cap Select Index methodology, Grayscale has adjusted GDLC’s portfolio by purchasing and selling the existing Fund Components in proportion to their respective weightings. At the end of the day on April 3, 2025, GDLC’s Fund Components were a basket of the following assets and weightings*:

    • Bitcoin (BTC), 79.59%
    • Ether (ETH), 10.54%
    • XRP (XRP), 5.86%
    • Solana (SOL), 2.88%
    • Cardano (ADA), 1.13%

    In accordance with the CoinDesk DeFi Select Index methodology, Grayscale has adjusted DEFG’s portfolio by purchasing and selling the existing Fund Components in proportion to their respective weightings. At the end of the day on April 3, 2025, DEFG’s Fund Components were a basket of the following assets and weightings*:

    • Uniswap (UNI), 42.75%
    • Aave (AAVE), 27.44%
    • MakerDAO (MKR), 12.81%
    • Lido (LDO), 8.80%
    • Curve (CRV), 8.20%

    In accordance with the CoinDesk Smart Contract Platform Select Capped Index methodology, Grayscale has adjusted GSC Fund’s portfolio by selling NEAR Protocol (NEAR) and existing Fund Components in proportion to their respective weightings, and using the cash proceeds to purchase existing Fund Components in proportion to their respective weightings. As a result of the rebalancing, NEAR was removed from GSC Fund. At the end of the day on April 3, 2025, GSC Fund’s Fund Components were a basket of the following assets and weightings*:

    • Ether (ETH), 30.92%
    • Solana (SOL), 29.05%
    • Cardano (ADA), 22.91%
    • Avalanche (AVAX), 7.45%
    • Sui (SUI), 7.04%
    • Polkadot (DOT), 2.63%

    In accordance with AI Fund methodology, Grayscale has adjusted AI Fund’s portfolio by selling Livepeer (LPT) and existing Fund Components in proportion to their respective weightings, and using the cash proceeds to purchase existing Fund Components in proportion to their respective weightings. As a result of the rebalancing, LPT was removed from AI Fund. At the end of the day on April 3, 2025, AI Fund’s Fund Components were a basket of the following assets and weightings**:

    • NEAR Protocol (NEAR), 30.94%
    • Bittensor (TAO), 20.42%
    • Filecoin (FIL), 20.12%
    • Render (RENDER), 19.26%
    • The Graph (GRT), 9.26%

    None of GDLC, DEFG, GSC, or AI Fund generate any income, and all regularly distribute Fund Components to pay for ongoing expenses. Therefore, the amount of Fund Components represented by shares of each fund gradually decreases over time.

    For more information, please visit grayscale.com.

    This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

    *The compositions of GDLC, DEFG, and GSC Fund are evaluated on a quarterly basis to remove existing Fund Components or to include new Fund Components, in accordance with the index methodologies established by the Index Provider. Holdings and weightings of each Fund are subject to change. Investors cannot directly invest in an index.

    **The composition of the AI Fund is evaluated on a quarterly basis to remove existing Fund Components or to include new Fund Components, in accordance with the fund methodology established by Grayscale as the Manager of the Fund. Holdings and weightings of the AI Fund are subject to change.

    About Grayscale® Digital Large Cap Fund

    Digital Large Cap Fund seeks to provide investors with exposure to large-cap coverage of the digital asset market through a market cap-weighted portfolio designed to track the CoinDesk Large Cap Select Index. Digital Large Cap Fund holds the largest and most liquid digital assets that meet certain trading and custody requirements and are classified in the CoinDesk Digital Asset Classification Standard (DACS); the weightings of each Fund Component change daily and are published around 4:00 p.m. NY-time. Additional information on the Index methodology can be found at: https://www.coindesk.com/indices/dlcs/.

    Digital Large Cap Fund’s investment objective is for its Shares to reflect the value of Fund Components held by the Digital Large Cap Fund, less its expenses and other liabilities. To date, the Digital Large Cap Fund has not met its investment objective and the Shares quoted on OTCQX have not reflected the value of Fund Components held by the Digital Large Cap Fund, less the Digital Large Cap Fund’s expenses and other liabilities, but instead have traded at both premiums and discounts to such value, with variations that have at times been substantial.

    Grayscale Digital Large Cap Fund LLC (“GDLC”) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents GDLC has filed with the SEC for more complete information about GDLC and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, GDLC or any authorized participant will arrange to send you the prospectus after filing if you request it by emailing info@grayscale.com or by contacting Grayscale Securities, 290 Harbor Drive, Stamford, CT 06902.

    About Grayscale® Decentralized Finance Fund

    DeFi Fund seeks to provide investors with exposure to a selection of industry-leading decentralized finance platforms through a market cap-weighted portfolio designed to track the CoinDesk DeFi Select Index. DeFi Fund holds some of the largest and most liquid digital assets that meet certain trading and custody requirements and are classified in the DeFi sector defined by CoinDesk Digital Asset Classification Standard (DACS); the weightings of each Fund Component change daily and are published around 4:00 p.m. NY-time. Additional information on the CoinDesk DeFi Select Index methodology can be found at: https://www.coindesk.com/indices/dfx/.

    DeFi Fund’s investment objective is for its Shares to reflect the value of Fund Components held by the DeFi Fund, less its expenses and other liabilities. To date, the DeFi Fund has not met its investment objective and the Shares quoted on OTCQB have not reflected the value of Fund Components held by the DeFi Fund, less the DeFi Fund’s expenses and other liabilities, but instead have traded at both premiums and discounts to such value, with variations that have at times been substantial.

    About Grayscale® Smart Contract Fund

    GSC Fund seeks to provide investors with exposure to a selection of industry-leading Smart Contract Platforms through a market cap-weighted portfolio subject to a weightings cap, designed to track the CoinDesk Smart Contract Platform Select Capped Index. GSC Fund holds some of the largest and most liquid digital assets that meet certain trading and custody requirements, and are classified in the Smart Contract Platform sector defined by CoinDesk Digital Asset Classification Standard (DACS); the weightings of each Fund Component change daily and are published around 4:00 p.m. NY-time.

    Grayscale intends to attempt to have shares of this product quoted on a secondary market. However, there is no guarantee this will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in this product should not assume that the shares will ever obtain such an approval due to a variety of factors, including questions regulators such as the SEC, FINRA or other regulatory bodies may have regarding the product. As a result, shareholders of this product should be prepared to bear the risk of investment in the shares indefinitely.

    Smart contracts are a new technology and ongoing development may magnify initial problems, cause volatility on the networks that use smart contracts and reduce interest in them, which could have an adverse impact on the value of digital assets that deploy smart contracts.

    Extreme volatility of trading prices that many digital assets have experienced in recent periods and may continue to experience, could have a material adverse effect on the value of the products and the shares could lose all or substantially all of their value.

    Grayscale Investments Sponsors, LLC (“Grayscale Investments”) is not registered as an investment adviser under the Investment Advisers Act of 1940 and none of the investment products sponsored or managed by Grayscale are registered under the Investment Company Act of 1940.

    About Grayscale® Decentralized AI Fund

    AI Fund seeks to provide investors with exposure to protocols building Decentralized AI services, protocols building solutions to centralized AI-related problems, and infrastructure and resources critical to AI technology development.

    Grayscale intends to attempt to have shares of this new product quoted on a secondary market. However, there is no guarantee this will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in this product should not assume that the shares will ever obtain such an approval due to a variety of factors, including questions regulators such as the SEC, FINRA or other regulatory bodies may have regarding the product. As a result, shareholders of this product should be prepared to bear the risk of investment in the shares indefinitely.

    Decentralized AI is a new technology and ongoing development may magnify initial problems, cause volatility on the networks that use decentralized AI and reduce interest in them, which could have an adverse impact on the value of digital assets that rely on decentralized AI.

    Extreme volatility of trading prices that many digital assets have experienced in recent periods and may continue to experience, could have a material adverse effect on the value of the products and the shares could lose all or substantially all of their value.

    About Grayscale Investments®

    Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a decade-long track record and deep expertise as an asset management firm focused on crypto investing. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. Grayscale products are distributed by Grayscale Securities, LLC (Member FINRA/SIPC).

    Media Contact
    press@grayscale.com

    Client Contact
    866-775-0313
    info@grayscale.com

    The MIL Network –

  • MIL-OSI Russia: Mikhail Mishustin congratulated Vladimir Delba on his appointment as Prime Minister of the Republic of Abkhazia

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    The telegram, in particular, notes:

    “Dear Vladimir Valerievich!

    On behalf of the Government of the Russian Federation and on my own behalf, I sincerely congratulate you on your appointment to the post of Prime Minister of the Republic of Abkhazia.

    I am convinced that your activities as head of the Government of Abkhazia will contribute to the development of the economy and social sphere, and to raising the standard of living of the republic’s population.

    I would like to note the importance of further strengthening Russian-Abkhaz relations based on the principles of friendship, good-neighborliness and alliance. Expansion of trade, economic, investment and cultural-humanitarian cooperation, implementation of large joint projects in various fields fully meet the interests of the Russian Federation and the Republic of Abkhazia.

    With all my heart I wish you, dear Vladimir Valerievich, good health, prosperity and new successes in your responsible state activities.”

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI USA: Secretary Chavez-DeRemer statement on March jobs report

    Source: US Department of Labor

    WASHINGTON – U.S. Secretary of Labor Lori Chavez-DeRemer issued the following statement regarding the March 2025 Employment Situation Report:

    “March’s incredibly strong jobs report reflects President Trump’s efforts to reshape and rebuild our economy to put the American Worker First, with over 13,000 construction jobs added. Additionally, growth far exceeded expectations at 228,000 jobs created, demonstrating strong expansion that will only continue when jobs that were previously shipped overseas are brought back to the United States.

    “As expected, this report also reflects the Trump Administration’s focus on improving efficiency across government. Federal telework numbers are now in-line with the private sector, and federal employment is shrinking while critical sectors throughout the economy are seeing growth. This trend will continue while agencies right-size their workforce and eliminate wasteful contracts, which will save Americans’ tax dollars and help them keep more of their hard-earned money to further stimulate the economy. 

    “Overall, the economy is already responding positively to President Trump’s America First agenda. Moving forward, the Labor Department will continue fighting to support workers, including those entering the job market, to set up all hardworking Americans with an opportunity to achieve the American Dream.”

    MIL OSI USA News –

  • MIL-OSI USA: 16 charged in sweeping Houston-based multimillion-dollar illegal gambling, money laundering conspiracy

    Source: US Immigration and Customs Enforcement

    HOUSTON – Several Houston-area residents were taken into custody April 2 on various charges including conspiracy, operating illegal game rooms, bribery, and money laundering following one of the largest law enforcement operations in East Texas history.

    The operation was led by U.S. Immigration and Customs Enforcement with assistance from IRS Criminal Investigation; the Houston Police Department; FBI; High Intensity Drug Trafficking Areas Program; Harris County Constable’s Office – Precinct One; Harris County District Attorney’s Office; Bureau of Alcohol, Tobacco, Firearms and Explosives; and Drug Enforcement Administration.

    In addition to those indicted in the scheme, authorities also arrested 31 illegal aliens on various immigration and firearms charges. One of those included an illegal alien who allegedly assaulted a law enforcement officer.

    The indictment, returned March 26 and unsealed upon the arrests, alleges Nizar Ali, 61, of Richmond, and others allegedly conspired to own, operate or assist in the operation of illegal game rooms. All also conspired to conduct financial transactions to conceal and disguise the nature and source of the proceeds of the illegal gambling business, which totaled more than $22 million, according to the charges.

    More than 700 law enforcement officers from 18 agencies served a total of 45 search and 40 seizure warrants at locations throughout Houston and the surrounding area. The locations included 30 illegal game rooms with names such as El Portal and Yellow Building.

    During the operation, authorities recovered more than $11 million in seized cash and bank accounts, as well as $5 million in property and vehicles, 2,000 slot machines, 100 Rolex watches and eight firearms. Law enforcement also seized approximately $6.5 million from bank accounts and other financial institutions pursuant to the court-issued warrants.

    In addition to Ali, others taken into custody include Naeem Ali, 33, and Amer Khan, 68, both of Richmond; Ishan Dhuka, 33, and Sahil Karovalia, 32, both of Rosenberg; Sarfarez Maredia, 38, and Shoaib Maredia, 40, both of Sugar Land; Yolanda Figueroa, 40, of Pasadena; Viviana Alvarado, 45, of LaPorte; and Anabel Eloisa Guevarra, 46, Precela Solis, 27, Maria Delarosa, 53, Claudia Calderon, 37, and Lucia Hernandez, 34, all of Houston.

    Two others – Sayed Ali, 59, of Richmond, and Stephanie Huerta, 35, of Houston – are considered fugitives and warrants remain outstanding for their arrests.

    All are charged with conspiracy, operating an illegal gambling business and interstate travel in aid of racketeering which each carry possible prison terms of five years as well as conspiracy to commit money laundering which has a maximum 20-year possible prison term. Ali is also charged with 32 counts of federal program bribery for allegedly paying more than $500,000 to an undercover officer in an attempt to protect the illicit game rooms from law enforcement intervention. If convicted, he faces up to 10 more years in prison on each count. With the exception of the money laundering charge, which has the possibility of a $500,000 maximum fine or twice the value of the property involved, the remaining counts carry a maximum $250,000 potential fine.

    Other agencies who provided support to the operation included U.S. Customs and Border Protection, Harris and Montgomery Counties’ sheriff offices, the Houston Fire Department, Texas Attorney General’s Office, Texas Department of Public Safety and Baytown and Pasadena police departments.

    Assistant U.S. Attorneys S. Mark McIntyre, John Marck and Carolyn Ferko are prosecuting the case. Assistant U.S. Attorneys Brandon Fyffe and Tyler Foster are handling the seizure and forfeiture of assets.

    An indictment is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless convicted through due process of law.

    MIL OSI USA News –

  • MIL-OSI Security: Asphalt Contractor to Pay Nearly $1.3 Million to Settle Claims that it Falsified Quality Test Results

    Source: Office of United States Attorneys

    MINNEAPOLIS – Anderson Brothers Construction Company of Brainerd LLC, a construction and paving company located in Brainerd, Minnesota, has agreed to pay $1,295,610 to resolve allegations it violated the False Claims Act and the Minnesota False Claims Act from 2017 through 2022 by routinely and knowingly falsifying test results to make its paving material appear to be higher quality than it was and submitting those falsified results to the government in seeking payments for road paving in Minnesota.  

    The United States and the State of Minnesota alleged that, as a condition of payment for federally funded road paving contracts, Anderson Brothers was required to perform certain quality tests of its paving material and submit the results to the government.  The United States and the State of Minnesota further alleged that Anderson Brothers falsified the results and submitted them to the government to receive financial incentives for superior quality paving material and avoid deductions for lower-quality material.  As a result of those false test results, the United States and the State of Minnesota alleged that the government funded payments to Anderson Brothers for unearned incentives and Anderson Brothers avoided financial deductions that would have occurred had Anderson Brothers submitted truthful test results. Of the $1,295,610 civil settlement, the United States will receive $660,761 and the State of Minnesota will receive $634,849.

    “Protecting taxpayer dollars from fraud and abuse is one of our top priorities,” said Acting U.S. Attorney for the District of Minnesota Lisa D. Kirkpatrick. “The submission of false claims for federally funded government contracts will not be tolerated. This settlement should serve as proof that we will actively investigate this conduct whenever it occurs and will hold to account any company that fails to bill accurately for the products provided.”

    “Today’s settlement reinforces the fact that companies doing business with the government must fully comply with federal regulations and contractual obligations,” said Special Agent in Charge Anthony Licari, Department of Transportation Office of Inspector General, Midwestern Region. “When fraudulent conduct like this undermines the integrity of highway paving putting the safety of the travelling public at risk, it’s our job, together with our law enforcement and prosecutorial partners, to put an end to it.”

    The civil settlement includes the resolution of claims brought under the qui tam or whistleblower provisions of the False Claims Act by Kacie Dixon, a former Bituminous Mix Technician at Anderson Brothers.  Under those provisions, a private party can file an action on behalf of the United States and receive a portion of any recovery.  The qui tam case is captioned United States ex rel. Dixon v. Anderson Brothers Construction Company of Brainerd, LLC., Civil Action No. 22-cv-02078 (D. Minn.).  

    The resolution obtained in this matter was the result of a joint effort between the Justice Department’s Civil Division, Commercial Litigation Branch, Fraud Section, and the United States Attorney’s Office for the District of Minnesota with assistance from the Office of Inspector General for the U.S. Department of Transportation.  The U.S. Government also received significant assistance in this matter from the Minnesota Attorney General’s Office and the Minnesota Department of Transportation.

    The matter was investigated by Fraud Section Trial Attorney Danielle Rowan and Assistant U.S. Attorneys David Fuller and Adam Hoskins for the District of Minnesota.

    The claims resolved by the settlement are allegations only, and there has been no determination of liability. 

    MIL Security OSI –

  • MIL-OSI: Artius II Acquisition Inc. Announces the Separate Trading of its Class A Ordinary Shares and Rights, Commencing April 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 04, 2025 (GLOBE NEWSWIRE) — Artius II Acquisition Inc. (Nasdaq:AACBU) (the “Company” or “Artius”) announced that, commencing April 7, 2025, holders of the units sold in the Company’s initial public offering of 22,000,000 units may elect to separately trade the Class A ordinary shares (including the attached contingent rights) and rights included in the units. Each unit consists of one Class A ordinary share, one right to receive one tenth of one Class A Ordinary Share, and one contingent right. The Class A ordinary shares and rights that are separated will trade on The Nasdaq Global Market under the symbols “AACB” and “AACBR,” respectively. Units that are not separated will continue to trade on The Nasdaq Global Market under the symbol “AACBU.” Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and rights.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Artius II Acquisition Inc.

    The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on technology enabled businesses that directly or indirectly offer specific technology solutions, broader technology software and services, or financial services to companies of all sizes. The Company was founded by Boon Sim, the Founder and Managing Partner of Artius Capital Partners LLC. Karen Richardson, Kevin Costello and John Stein serve as board members.

    Cautionary Note Concerning Forward-Looking Statements

    This press release contains statements that constitute “forward-looking statements,” including with respect to the timing of the separation of the units sold in the Company’s initial public offering. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Contacts

    Jason Ozone
    jason@artiuscapital.com
    +1-212-309-7668

    The MIL Network –

  • MIL-OSI: Wintrust Financial Corporation Announces Cash Dividends

    Source: GlobeNewswire (MIL-OSI)

    ROSEMONT, Ill., April 04, 2025 (GLOBE NEWSWIRE) — Wintrust Financial Corporation (“Wintrust” or the “Company”) (Nasdaq: WTFC) today announced that the Company’s Board of Directors approved a quarterly cash dividend of $0.50 per share of outstanding common stock. The dividend is payable on May 22, 2025 to shareholders of record as of May 8, 2025.

    Additionally, the Company’s Board of Directors approved quarterly cash dividends on outstanding shares of the Company’s 6.50% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D and of the Company’s 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E. Each dividend is payable on July 15, 2025 to shareholders of record as of July 1, 2025.

    About Wintrust

    Wintrust is a financial holding company with $64.9 billion in assets whose common stock is traded on the NASDAQ Global Select Market. Guided by its “Different Approach, Better Results®” philosophy, Wintrust offers the sophisticated resources of a large bank while providing a community banking experience to each customer. Wintrust operates more than 200 retail banking locations through 16 community bank subsidiaries in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. In addition, Wintrust operates various non-bank business units, providing residential mortgage origination, wealth management, commercial and life insurance premium financing, short-term accounts receivable financing/outsourced administrative services to the temporary staffing services industry, and qualified intermediary services for tax-deferred exchanges. For more information, please visit wintrust.com.

    Forward-Looking Information

    This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Wintrust’s expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and the forward-looking statement disclosure contained in Wintrust’s Annual Report on Form 10-K for the most recently ended fiscal year. Forward-looking statements speak only as of the date made and Wintrust undertakes no duty to update the information.

    FOR MORE INFORMATION CONTACT:
    Timothy S. Crane, President & Chief Executive Officer
    David A. Dykstra, Vice Chairman & Chief Operating Officer
    (847) 939-9000
    Website address: www.wintrust.com

    The MIL Network –

  • MIL-OSI: Triumph Financial Announces Schedule for First Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, April 04, 2025 (GLOBE NEWSWIRE) — Triumph Financial, Inc. (Nasdaq: TFIN) today announced that it expects to release its first quarter financial results and management commentary after the market closes on Wednesday, April 16, 2025. Upon filing, the financial results and commentary will be available on the Company’s website at tfin.com.

    Aaron P. Graft, Vice Chairman and CEO, and Brad Voss, CFO, will review the financial results in a conference call with investors and analysts beginning at 9:30 a.m. central time on Thursday, April 17, 2025.

    The live video conference option may be accessed directly through this link, https://triumph-financial-q1-2025-earnings.open-exchange.net/ or via the Company’s website at tfin.com through the News & Events, Events & Presentations links. Alternatively, a live conference call option is available by dialing 1-833-928-4610 (International: 1-800-456-1369) requesting to be joined to meeting ID 970 6106 3843 at the prompt. An archive of this conference call will subsequently be available at this same location, referenced above, on the Company’s website.

    About Triumph

    Triumph Financial, Inc. (Nasdaq: TFIN) is a financial holding company focused on payments, factoring, intelligence and banking. Headquartered in Dallas, Texas, its diversified portfolio of brands includes TriumphPay, Triumph, TBK Bank and LoadPay.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Triumph Financial’s expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and the forward-looking statement disclosure contained in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 11, 2025. Forward-looking statements speak only as of the date made and Triumph Financial undertakes no duty to update the information.

    Source: Triumph Financial, Inc.

    Investor Relations:
    Luke Wyse
    Senior Vice President, Head of Investor Relations
    lwyse@tfin.com
    214-365-6936

    Media Contact:
    Amanda Tavackoli
    Senior Vice President, Director of Corporate Communication
    atavackoli@tfin.com
    214-365-6930

    The MIL Network –

  • MIL-OSI USA: Vasquez: “Our Public Lands Are Not For Sale”

    Source: US Representative Gabe Vasquez’s (NM-02)

    WASHINGTON, D.C. – Today, U.S Representative Gabe Vasquez (NM-02) issued the following statement in response to reports that House Republican leadership is considering proposals to sell public lands as part of a budget reconciliation package:

    “Let me be absolutely clear—our public lands are not for sale. New Mexicans cherish our open spaces, our national parks, and the public lands that fuel our outdoor economy and define us as Americans. Any attempt to sell these lands to the highest bidder is an attack on our way of life, our communities, and our future generations.

    “Republican leaders in Congress are pushing a reckless and short-sighted plan to auction off public lands to pay for tax breaks and corporate giveaways. Time and time again, Americans of all political stripes have defended access to our natural heritage, and they will do so again.

    “I’ve worked across the aisle with Republicans to protect our public lands, including the Public Lands in Public Hands Act, because across the West, public lands are the great equalizer. And while some Republicans understand that, others in their party are putting our shared lands and access to the outdoors at risk to line the pockets of billionaires.

    ”I’ll keep fighting to ensure that our lands stay in public hands—accessible, protected, and conserved. Selling off public lands does little, if anything, to address our serious housing or budget challenges—it’s a betrayal of the people we serve to put this proposal on the table.”

    ###

    MIL OSI USA News –

  • MIL-OSI Canada: Returning snowbirds are reminded of tariffs on certain U.S. goods

    Source: Government of Canada News (2)

    April 4, 2025
    Ottawa, Ontario

    The Canada Border Services Agency (CBSA) and the Canadian Snowbird Association remind Canadians who have spent the winter in warmer climates to plan ahead for a smooth return home.

    In response to U.S. tariffs on Canadian-made goods, Canada has imposed a 25% counter tariff on certain U.S. products brought into Canada. The CBSA is collecting the tariffs on behalf of the Government of Canada in the form of a surtax.

    This means you may need to pay a surtax (as well as any applicable duties and taxes) on some of the goods you have purchased and are bringing back with you from the U.S. The lists of these products is on the Department of Finance website: products surtaxed as of March 4 and as of March 13. The surtax is assessed by the CBSA at the port of entry and must be paid before you enter Canada.

    Remember that residents of Canada have personal exemptions that allow them to bring goods, including alcohol and tobacco (up to a certain value), back to Canada without paying regular duty and taxes.

    For example, if you have been away for 48 hours or more, you can claim goods worth up to CAN$800 without paying duties or taxes, including the new surtax. The surtax only applies on the amount of goods that exceeds your personal exemption.

    Be sure to have your receipts readily available for any goods you are bringing with you. For goods that exceed your personal exemption limits, you may be required to provide proof of where the goods were made, produced or originated from (proof of origin).

    Whether travelling by land, air or water, you can help speed up processing times by having your travel documents handy. We encourage you to read and follow our travel tips before arriving at the border.

    MIL OSI Canada News –

  • MIL-OSI USA: Stopping IRS Overreach in Its Tracks

    Source: United States House of Representatives – Congressman Adrian Smith (R-NE)

    As we near the final days of tax season, customer service at the IRS is on the minds of many Americans. Most Americans work hard and pay their taxes in good faith, yet in Fiscal Year (FY) 2023, 32 percent of customers said they were dissatisfied with their experience with the agency’s Independent Office of Appeals. Sadly, these rates have trended in the wrong direction since Democrats poured $80 billion into the IRS to hire 87,000 new agents in 2022. In FY21 just 19 percent of taxpayers reported dissatisfaction with the IRS.

    I continue to champion efforts to hold the IRS accountable and focus on improving customer service. The most recent government funding legislation I supported reduced this funding by another $20.2 billion. In fact, I sponsored legislation previously passed by the House to reclaim the entire $80 billion. Rather than hiring agents to supersize “enforcement” and audits, the IRS should be doing everything possible to maximize efficiency and excellent service.

    In March, the Treasury Inspector General for Tax Administration (TIGTA) released a report detailing how the IRS inappropriately diverted $4.6 million to maintain outdated technology systems. These funds had been designated for systems modernization and were legally prohibited from being redirected to legacy systems.

    Updates to IRS technology are needed to better protect Americans’ personal data and serve taxpayers. The misuse of tax dollars to maintain business as usual was a hallmark of the Biden administration’s misaligned priorities. The past administration pursued unauthorized tax prep services and schemes to audit more Americans across the income spectrum, including the 1099-K Babysitter Tax and other new ways to audit tips received by service workers.

    Another March TIGTA report found the IRS underreported the cost of its unauthorized pilot program to compete with existing free tax preparation providers. Through this program, the Biden administration sought to increase the IRS’s intrusion into the private finances of Americans to an unprecedented degree. This in-house tax preparation program has not been authorized by Congress, and having the tax enforcement and collection agency calculating how much a given taxpayer owes raises serious conflict of interest concerns.

    Too often, the IRS and the taxpaying process are clouded by an air of suspicion. The last thing American taxpayers need is an IRS calculating tax liability with no incentive to ensure they are not accidentally overpaying, while simultaneously threatening to audit them. I am the lead sponsor of a bill to eliminate this so-called Direct File program.

    We should be crafting policy which modernizes systems and improves customer service at the IRS, not creating costly redundancies which put the IRS into the role of both tax preparer and tax auditor. The IRS Free File program is an existing option for taxpayers who wish to file their taxes for free. More than 70 percent of American tax filers qualify to use Free File. I encourage you to visit irs.gov/FreeFile to confirm your eligibility and learn more.

    Through Free File, which is authorized by Congress, Americans can file their federal taxes through private third parties without cost to themselves, virtually no cost to the federal government, and minimal administrative burden to the IRS.

    Law-abiding middle-class taxpayers and small businesses should not live in fear of a burdensome, unnecessary audit from an overreaching IRS. Free File fills a need for taxpayers in an efficient, cost-effective way—just the sort of thing we should be doing more of in Washington.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: VIDEO: On Senate Floor, Rosen Shares Story of Reno Small Business Being Impacted By Trump’s Tariffs

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)

    Senator Rosen Condemned Trump’s Cost-Raising Tariffs And Called For Bipartisan Opposition To Them

    Watch Senator Rosen’s Full Remarks HERE.
    WASHINGTON, DC – Today, U.S. Senator Jacky Rosen (D-NV) took to the Senate floor to strongly condemn Trump’s latest across-the-board tariffs, which amounts to a national sales tax for families. In her speech, Senator Rosen focused on a letter she received from a small business owner in Reno outlining the devastating impact these tariffs will have on his business. She also highlighted the damage additional tariffs will do to the state’s tourism economy.
    Below are excerpts of Senator Rosen’s floor remarks:
    […]
    Most importantly, these tariffs, well, they’re reckless and they’ll decimate businesses around the country, and like I said, including in my great state of Nevada. 
    I’ve already heard from Nevadans and Nevada business owners who are worried about how these new tariffs will impact their businesses, their livelihoods, their families, including the founder of a small business in Reno.
    He wrote to me. I’m going to quote the letter. This is what he said: “We maintain a small production facility in Reno…these duties will force us to raise retail prices by 37 percent, and we don’t believe our customers will accept that. This policy could wipe us out entirely.” End quote.
    They go on to say – I’m going to quote again – “I’m not asking for a favor. I’m asking for leadership that reflects the urgency and reality we face. These tariffs do not bring jobs back. They raise prices, punish small businesses, and put livelihoods at risk, [all] while making it harder for companies like mine to do what we’ve done for thirteen years: create jobs, innovate, and support our families.” End quote.
    And it’s not just our small businesses in Nevada that will be hit hardest, our families, our families are already being squeezed by the high costs. They’re going to see prices go up even further.
    Let’s be clear: These tariffs, Trump’s tariffs, they’re a national sales tax. 
    From your medication, to gas, to the groceries you buy, Republican tariffs will increase the costs for goods for hardworking families across this country, things we rely on every single day.
    Tariffs are also going to increase what you pay at the fuel pump. They’re going to increase the price of construction materials, making housing even more expensive.
    Through his national sales tax, Trump is passing along higher costs to everyone, no matter where you live.
    […]

    MIL OSI USA News –