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Massive $4 billion Iranian sanctions evasion network uncovered behind illegal gambling and crypto scheme

A Reuters investigation has exposed a massive Iranian sanctions evasion network operating through a Dubai-based, unlicensed cryptocurrency exchange named Shelbit.

The exchange has processed over $4 billion since May 2024, serving as a critical financial hub that links a Farsi-language illegal gambling network of over 2,000 websites, Iran’s central bank, state-backed bitcoin mining operations, and entities tied to the Islamic Revolutionary Guard Corps (IRGC).

Despite strict prohibitions against gambling under Iranian law, the vast network utilises Iran’s central bank-regulated online payments system, allowing sanctioned entities and illicit networks direct access to global crypto markets and major international exchanges.

Fronted by prominent Iranian influencers Sasha Sobhani and Pooyan Mokhtari, who promote the gambling sites to millions of social media followers while flaunting lavish lifestyles abroad, the operation is considered one of the largest illegal gambling and sanctions evasion schemes ever identified.

Regulatory and law enforcement agencies have begun taking action against the network. Dubai’s Virtual Assets Regulatory Authority (VARA) issued a cease-and-desist order against Shelbit for anti-money laundering and counter-terrorism financing violations, while the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) confirmed it is actively investigating the network’s digital asset transactions.

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    Jeff Bezos throws weight behind $2.6B AI startup fixing the chip material crunch

    Jeff Bezos has placed his bet on CuspAI, an artificial intelligence startup working to discover and design advanced materials for the next generation of computer chips. The investment aims squarely at the material shortage behind the ongoing chip crisis that has rattled the tech industry over the past several months. This is not  CuspAI’s first big funding win. Back in July, the company closed a $450 million Series B round, pushing its valuation to $2.6 billion. That round pulled in heavyweight backers, including Bezos Expeditions, AMD Ventures, Nvidia, and Meta. CuspAI was founded in 2024 with a much narrower focus. Originally, the company built AI tools to identify and test materials for water purification and carbon capture projects. Since then, its mission has grown considerably. By expanding into AI infrastructure and chip materials, the startup now positions itself as a possible fix during a period of serious supply chain strain. One of CuspAI’s key advantages lies in finding substitutes. The company’s AI can search for alternative materials that mimic the properties of scarce elements like tantalum, gallium, and iridium. These elements are becoming harder to source as demand climbs, particularly with the explosion of AI infrastructure worldwide. The International Energy Agency has already flagged concerns that data centre demand for gallium could outpace supply within the next few years. Adding to the pressure, rising geopolitical tension between the US and China over rare earth minerals continues to complicate global supply chains. Analysts have pointed to this rift as a growing risk factor for tech manufacturers everywhere. Beyond securing fresh funding, CuspAI has also launched something bigger: the AI Materials Foundry. This initiative brings together more than 45 major industry players under one coalition, including tech giants like Nvidia, Samsung, Meta, and Hyundai Motor Group. The goal is to pool resources and expertise as the industry races to solve its materials bottleneck. With Bezos now backing the effort directly, CuspAI’s profile in the AI and semiconductor space is only expected to grow. As chip shortages continue to challenge manufacturers worldwide, the company’s approach of using AI to hunt for alternative materials could prove critical in keeping production on track.

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    UN Security Council begins informal voting to choose next secretary general

    The United Nations Security Council will begin its first round of informal voting on Thursday to measure support for candidates seeking to become the next UN secretary general. The confidential ballots mark the start of a selection process that will eventually determine who succeeds Antonio Guterres when his second five year term ends later this year. Seven candidates from different regions are currently competing for the position. They include Argentina’s Rafael Grossi, who heads the UN nuclear watchdog, former Chilean President Michelle Bachelet, former Costa Rican Vice President Rebeca Grynspan, former Ecuadorian Foreign Minister Maria Fernanda Espinosa, former Guyanese Foreign Minister Carolyn Rodrigues-Birkett, former Senegalese President Macky Sall and Ugandan diplomat Olara Otunnu. Additional candidates are still allowed to enter the race before the selection process concludes. The next secretary general will take charge of the United Nations at a time when the organization faces mounting criticism over its effectiveness and structure. Calls for reform have increased as member states push for a more efficient institution, arguing that the UN must reduce bureaucracy, eliminate overlapping responsibilities among its agencies and improve its ability to respond to global crises. The first stage of the selection process involves informal straw polls conducted behind closed doors among the Security Council’s 15 members. During these secret ballots, council members indicate whether they encourage, discourage or have no opinion on each candidate. The votes are non binding but provide an early indication of which candidates have the strongest support and which face significant opposition. At this stage, all Security Council members use identical ballots, meaning diplomats can see the overall level of support for each candidate without knowing whether opposition comes from one of the council’s five permanent members. Those permanent members are China, France, Russia, the United Kingdom and the United States, each of which holds veto power over the final recommendation. As the selection process moves forward, the permanent members will use ballots in a different color during later rounds of voting. This allows diplomats to determine whether any candidate has received a negative vote from a veto holding country, information that often plays a decisive role in narrowing the field. There is currently no clear favorite to replace Guterres. Previous UN leadership contests have required several rounds of voting over many weeks before a consensus candidate emerged. Diplomats expect this year’s process could continue throughout the summer and possibly into late September or early October if no candidate gains broad enough support. If the Security Council remains divided, the process could take even longer. Once the council agrees on a single candidate, it will formally recommend that person to the 193 member UN General Assembly. The recommendation requires at least nine votes in favor and no veto from any of the five permanent members. The General Assembly then votes to confirm the appointment, a step that has traditionally been considered a formality after the Security Council reaches agreement. The current president of the Security Council is the Democratic Republic of the Congo. Its ambassador to the United Nations, Zenon Mukongo Ngay, confirmed that the first round of straw polls will take place on Thursday morning. He also said that Ugandan candidate Olara Otunnu will participate in the voting despite not taking part in the informal public hearings completed by the other candidates. According to his biography, Otunnu played an important role in shaping the current selection process. He states that he introduced the system of informal straw polls while serving as president of the Security Council in 1981. That method has since become a key part of the process used to identify the candidate most likely to secure broad international support before the final appointment is made.

  • Trump imposes 50% tariffs on Canada as Carney vows to consider ‘All Options’ in response

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    Shan Masood resumes batting ahead of England Tests

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    Sonu Nigam admits he uses auto-tune, explains why it matters now

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    Brad Pitt reflects on grief a year after mother’s death

    Brad Pitt is opening up about the loss of his mother, Jane Pitt, who passed away in August 2025. A year on, the actor is reflecting on how deeply that grief has shaped him. Speaking to Esquire, Pitt described the past year as one marked by a persistent sense of emptiness. He said the loss left him grappling with feelings he’s still working to fully understand. The Oscar-winning actor described grief as one of the most humbling emotions a person can experience. He said even that description felt like it fell short of capturing the weight of it. Pitt went further, calling loss one of the most difficult things anyone can endure. He said the isolation that often follows can feel like an especially painful kind of struggle. Since his mother’s passing, Pitt has made an effort to stay close to his father, William, who lives in Missouri. He revealed that he’s been visiting him regularly ever since. Despite spending time together, Pitt admitted that he and his father rarely discuss the loss they now share. Grief, for them, seems to exist more in shared silence than open conversation. Pitt acknowledged that there’s no straightforward way to move past something like this. He said finding a way to truly overcome it still feels largely out of reach. He explained that the real challenge lies in holding two conflicting truths at once. According to Pitt, grief leaves a lasting void, but it can also uncover something unexpectedly meaningful within that pain. He described the experience as a kind of aching beauty, difficult but not without value. For Pitt, surviving grief doesn’t mean forgetting it, but learning to carry both the loss and what it revealed. His comments offer a rare, personal look into how the actor has been processing one of the most difficult years of his life. A year after losing his mother, Pitt appears to be finding a way to hold onto both the pain and the perspective it’s brought him.

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