From the desk of Rich Stephens
News for the week ending 6-21-26
Below find the expanded text from tonight’s broadcast. For corrections or additions, contact Rich directly.
Top Story
ODNI Releases Declassified Records on U.S.-Funded Biological Research
This week, outgoing Director of National Intelligence Tulsi Gabbard released several tranches of declassified records challenging years of official statements about U.S.-funded biological research, Ukraine laboratories, COVID origins, Anthony Fauci, and the Wuhan Institute of Virology.
In 2021, the intelligence community said it remained divided on the origin of COVID-19 and considered both natural exposure and a laboratory-associated incident plausible.
In March 2022, the Department of Defense said its Biological Threat Reduction Program had invested about $200 million in Ukraine since 2005, supporting 46 Ukrainian laboratories, health facilities, and diagnostic sites. DOD said the facilities were owned and operated by Ukraine, supported disease detection and biosafety programs, and were not part of a biological weapons program.
Gabbard’s new releases challenge those earlier public statements.
On June 12, ODNI released documents it says show past U.S. government funding for more than 120 biolabs in more than 30 countries, including Ukraine.
The ODNI slide deck says Ukraine had more than 40 labs built and supported with U.S. assistance. Repositories there contain disease-causing pathogens including anthrax, tuberculosis, MERS, SARS, Ebola, plague, and others, and U.S.-funded training for Ukrainian scientists in biocontainment procedures.
Another slide lists four Ukraine labs with U.S. government investments ranging from about $1.7 million to $3.5 million per facility. A third slide says the U.S. paid a Ukrainian scientist to study highly pathogenic avian flu and other infectious viruses in U.S.-funded biocontainment laboratories.
On June 18, ODNI released a second package focused on COVID origins, Anthony Fauci, and the Wuhan Institute of Virology.
The release includes emails, reports, scientific publications, intelligence records, and Fauci-related materials.
ODNI alleges Fauci funded risky coronavirus research at the Wuhan Institute of Virology, influenced intelligence assessments related to COVID origins, and misled Congress about contacts with intelligence officials. ODNI also says whistleblower material has been referred to the intelligence community’s inspector general.
The intelligence community has never reached a single conclusion on the origin of COVID-19. In 2023, ODNI said the Department of Energy and FBI assessed a laboratory-associated incident was most likely, while other agencies either favored natural origin or said the available evidence was insufficient to reach a conclusion.
DNI Tulsi Gabbard statement on U.S.-funded foreign biolabs
ODNI press release on U.S.-funded foreign biolabs
ODNI biolabs slide deck
Department of Defense 2022 Ukraine Biological Threat Reduction Program fact sheet
ODNI press release on Fauci, Wuhan, and COVID origins
ODNI June 18 COVID-19 document index
ODNI June 18 COVID-19 release, Part 1
ODNI June 18 COVID-19 release, Part 2
ODNI June 18 COVID-19 release, Part 3
ODNI 2021 unclassified summary on COVID-19 origins
ODNI 2023 report on potential links between the Wuhan Institute of Virology and COVID-19 origins
Current Events
12 Killed in Missouri Skydiving Plane Crash
On Sunday, June 14, twelve people were killed when a skydiving plane crashed shortly after takeoff from Butler Memorial Airport in Butler, Missouri.
The Pacific Aerospace P750XL was carrying a pilot and 11 skydivers. Bates County officials said the aircraft took off around 11:20 in the morning, failed to gain altitude, made a sharp left turn, and crashed about 300 yards from the runway.
Skydive Kansas City confirmed that all 12 people aboard were killed.
The National Transportation Safety Board is leading the investigation with assistance from the Federal Aviation Administration. As of this recording, investigators have not released a cause for the crash.
FAA accident and incident statements
NTSB aviation investigation search
Federal Prosecutors Charge 15 in Minnesota Antifa-Linked Case
On Tuesday, June 16, federal prosecutors in Minnesota unsealed an indictment charging 15 members and associates of Direct Action Minnesota.
U.S. Attorney Daniel Rosen said the group conspired to disrupt Immigration and Customs Enforcement operations during Operation Metro Surge. Prosecutors allege members used vehicles, RV trailers, road obstacles, homemade shields, surveillance teams, and stalking tactics to block law enforcement activity around the Whipple Federal Building near Minneapolis–Saint Paul International Airport.
The indictment includes charges ranging from conspiracy to impede federal officers to assault, interstate stalking, interstate threats, solicitation of violence, and destruction of government property.
Rosen identified the Black Hat Workers Collective as an Antifa affinity group connected to the investigation and said one of the organization’s leaders, Kyle Wagner, publicly identified himself as Antifa.
Federal agents arrested 12 defendants Tuesday morning. One was already in custody and two remained at large when the indictment was announced.
Rex Heuermann Sentenced in Gilgo Beach Serial Killings
On Wednesday, June 17, Rex Heuermann was sentenced in Suffolk County to three consecutive life sentences without parole, plus 100 years.
Heuermann pleaded guilty in April to seven charged murders and admitted in court to killing an eighth victim.
Heuermann is responsible for the deaths of Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard-Barnes, Jessica Taylor, Valerie Mack, Sandra Costilla, and Karen Vergata.
The murders spanned from 1993 to 2010 and involved victims whose remains were found across Long Island, including Gilgo Beach, Ocean Parkway, Fire Island, Manorville, and North Sea.
Suffolk County DA sentencing release
Suffolk County DA plea release
Federal Prosecutors Charge 14 in D.C. Drug Case Near Elementary School
On Wednesday, June 17, federal prosecutors in Washington, D.C., announced a 21-count indictment charging 14 defendants in an alleged crack and cocaine trafficking conspiracy near Hendley Elementary School.
The operation ran around 4th Street Southeast and Chesapeake Street Southeast in Washington Highlands, within 1,000 feet of a school serving pre-kindergarten through sixth grade.
The defendants are charged with conspiracy to distribute cocaine base and powder cocaine near a protected location. Investigators recovered 2.4 kilos of crack, 1 kilo of powder cocaine, 29 grams of fentanyl, 12 pounds of marijuana, and 28 firearms.
MPD began the investigation in late 2024 after reviewing violent crime and narcotics activity in the area.
U.S. Attorney Jeanine Pirro also said she will ask the D.C. Council to add a child-endangerment statute after showing surveillance images of an alleged cocaine sale near a five-year-old child.
DOJ press conference video
DOJ release on D.C. drug trafficking indictment
World
Toronto Police Arrest Suspect in U.S. Consulate Shooting Investigation
On Thursday, June 18, Toronto Police announced the arrest of 19-year-old Zara Jabbi in connection with the March shooting at the U.S. Consulate in Toronto.
Police say two suspects fired multiple rounds at the consulate on March 10 before fleeing. People were inside the building, but no injuries were reported.
Toronto Police, the Royal Canadian Mounted Police, and Canada’s Integrated National Security Enforcement Team treated the shooting as a national security incident.
Jabbi’s arrest follows the June 11 arrest of Sheldon Tracey-Stewart, who was also charged in the consulate shooting investigation.
During search warrants tied to the broader investigation, Constable Marc Pinizzotto was shot and killed. Toronto Police say Nicholas Bennett was arrested and is expected to face a first-degree murder charge in the officer’s death.
Toronto Police release on firearm-discharge investigations
Toronto Police release on Zara Jabbi arrest
U.S. federal complaint referencing Canada attacks
Finance
Kevin Warsh Holds First Press Conference as Federal Reserve Chair
On Wednesday, June 17, Kevin Warsh held his first press conference as Federal Reserve Chair after the Federal Open Market Committee left interest rates unchanged at 3.50% to 3.75%.
Warsh announced five task forces to review Fed communications, balance sheet policy, economic data, productivity and jobs, and inflation frameworks.
The Federal Reserve also removed forward guidance from its statement. Warsh said the statement now “just gives you the facts as best we can judge it.”
The inflation framework review will examine inflation drivers and policy ideas for delivering price stability, but Warsh said the Fed’s 2% inflation goal is outside the review for now.
Warsh also declined to submit his own economic projections, saying he remains skeptical of the current forecasting process.
Federal Reserve press conference video
Federal Reserve monetary policy statement
Federal Reserve economic projections release
SpaceX Files to Acquire Cursor
On June 16, SpaceX filed paperwork with the Securities and Exchange Commission to acquire Anysphere, the company behind Cursor.
The all-stock deal values Cursor at $60 billion.
The filing says Cursor granted SpaceX an exclusive option to buy the company in April, and SpaceX exercised that option before signing the merger agreement.
SpaceX expects the acquisition to close during the third quarter of 2026, subject to regulatory approval.
The agreement includes termination fees of up to $10 billion if the deal fails under certain conditions.
SpaceX SEC 8-K filing
SpaceX and Anysphere merger agreement
SpaceX statement on Cursor acquisition
Cursor statement on SpaceX acquisition
Markets
Markets continued last week’s trend, with the Dow Jones picking up .71%, a 362 point gain, closing at 51,564.
NASDAQ saw a 629 point bump, representing a 2.4% climb to close at 26,517.
The S&P500 closed at 7500 on the button, almost a 1% gain after adding 69 points.
And gold continued to fall, losing 1.6% and closing at $7172 per ounce, a lost off $67.
Sports
F1 Spain
And in Sports, On Sunday, June 14, Lewis Hamilton won the Barcelona-Catalunya Grand Prix for Ferrari. Hamilton finished 19.561 seconds ahead of Mercedes driver George Russell. Lando Norris finished third for McLaren, making it the first all-British Formula 1 podium since 1968. Ferrari used a three-stop strategy, and Hamilton gained his final stop under a Virtual Safety Car after Fernando Alonso retired. The win ended Mercedes’ perfect start to the season. Kimi Antonelli had won five straight races before Barcelona, but retired on Lap 62 with a car issue. Charles Leclerc, Fernando Alonso, Nico Hulkenberg, Valtteri Bottas and Lance Stroll also failed to finish.
Stanley Cup Finals
The Carolina Hurricanes won the Stanley Cup on Sunday, June 14, beating the Vegas Golden Knights 3-0 in Game 6. Carolina went 53-22-7 in the regular season, finished first in the Metropolitan Division and the Eastern Conference, then went 16-3 in the playoffs. The Hurricanes swept Ottawa in the first round and Philadelphia in the second, becoming the first team in NHL history to sweep each of their first two best-of-seven series on the way to a conference final. They beat Montreal in five games, then Vegas in six. Jordan Staal won the Conn Smythe Trophy as playoff MVP. In Game 3 of the Final, Carolina also scored three goals in 39 seconds, the fastest three-goal stretch in Stanley Cup Final history.
On Sunday, June 14, UFC Freedom 250 was held on the South Lawn of the White House. The event opened with a Super Delta flyover featuring both the U.S. Navy Blue Angels and U.S. Air Force Thunderbirds over the White House. In the main event, American fighter Justin Gaethje defeated Georgian-Spanish fighter Ilia Topuria by fourth-round TKO after Topuria’s corner stopped the fight between rounds. Topuria entered the fight as roughly a 5-to-1 betting favorite and was undefeated in his UFC career. The win made Gaethje the undisputed UFC lightweight champion. President Trump attended the event alongside UFC President Dana White as the promotion staged the fight card at the White House.
UFC Freedom 250
The 2026 World Cup is two rounds into group play, and the United States is in a strong spot. The U.S. opened with a 4-1 win over Paraguay, then followed it with a 2-0 win over Australia, giving the Americans six points and the top spot in Group D through two matches. Elsewhere, Mexico and Canada are off to strong starts, Brazil and Morocco are level at the top of Group C, and several of the European favorites are just now getting into the heart of group play. The U.S. can lock down the group with one more result when it faces Turkey on Thursday, June 25 at 10 p.m. Eastern in Los Angeles.
MLB
In Major League Baseball, Jacob Misiorowski continues to break his own records. He threw 47 pitches over 101mph in Friday night’s loss to the Braves. Even so, the Brewers sit 5.5 games atop the NL Central. Atlanta has lost some ground but has a 7.5 game lead on the Phillies in the NL East and Dodgers command the NL West by 9.5 games. In the American league, Seattle is just a half game up on the A’s in the West and in the Central division the White Sox are even with Cleveland, 4.5 games ahead of the Twins. The Yankees have a 3 game advantage over the Rays in the East and are the only AL team with a win percentage over 600.
College World Series
The Men’s College World Series is down to two teams. The championship series begins Saturday in Omaha with the University of North Carolina facing the University of Oklahoma in a best-of-three series for the national title. North Carolina reached the finals by winning its bracket without a loss, including two victories over West Virginia. Oklahoma advanced through the other side of the bracket with wins over Alabama and two wins over Georgia. The tournament field included five Southeastern Conference teams, along with North Carolina, West Virginia, and Troy. By the final week, only North Carolina and Oklahoma remained. One of the most memorable moments came Wednesday during Georgia’s elimination game against Oklahoma. Georgia shortstop Kolby Branch and Oklahoma second baseman Kyle Branch became the first brothers to start against each other in a College World Series game. In the ninth inning, with Georgia trailing, Kolby hit a home run in the final at-bat of his college career. As he rounded the bases, he exchanged a high five with his brother standing at second base. After the game, Kolby said, “It’s a good moment, high-fived him, which is kinda cool, and then I wished him luck in the National Championship.” Now Kyle Branch and Oklahoma move on to face North Carolina for the national championship. That best of 3 series kicked off last night, June 20 and I’ll bring you updates next weekend.
Rich Stephens
The Cold Take