On Saturday, July 25, over 330 communities across the United States will hold vigils, protests, and demonstrations to demand justice for Lorenzo Salgado Araujo, Johan Sebastian Guerrero, and many more who have been killed by Immigration and Customs Enforcement (ICE). Neighbors will gather to pay their respects, pray, mourn, and demand ICE OUT!

The national movement follows two recent, horrific killings by ICE agents. On July 7, Lorenzo Salgado Araujo, a beloved father and worker, was shot and killed by an ICE agent in Houston, Texas, while driving a work van. On July 13, ICE agents killed 26-year-old Johan Sebastian Guerrero in Biddeford, Maine, in front of his partner and toddler.

There have now been 53 deaths in ICE custody since Trump was inaugurated, 33 deaths in fiscal year 2026 alone. As the death toll grows, communities across the country are taking to the streets to protest and mourn together, demanding that the ICE agents involved in these killings, Department of Homeland Security Secretary Markwayne Mullin, the Department of Justice, the FBI, and all related agencies under the Trump administration be held accountable. Given the pending confirmation of Todd Blanche as Attorney General, this need for transparency, accountability and public pressure is particularly important now.

Find all events here.

Organizers and participants are calling for:

• Immediate Transparency: DHS must immediately release the key witnesses to Lorenzo’s death and halt their deportation proceedings so they can safely participate in any investigation and legal process.
• Full, Independent Investigations: Investigations must include full transparency and cooperation from the Department of Homeland Security (DHS) and all other law enforcement agencies. Accountability for any officer found to have committed misconduct or violated the law.
• ICE Out: All state and local leaders should stop using their resources to support federal immigration enforcement and stop all coordination with ICE. DHS must remove all ICE agents from the streets.
• Corporate Responsibility: Businesses and corporations must exercise their Fourth and Fifth Amendment rights to protect their employees, customers, and communities, and decline to cooperate with ICE, including by refusing access to private property, customer information, or other resources.

“We refuse to grieve quietly. We refuse to accept this terror and violence as inevitable”, said Crystal Cron, Executive Director, Presente! Maine. “Johan Sebastián should still be here with his wife and daughter — and instead, his name joins a growing list of people killed by an institution that treats our communities as disposable. This is bigger than one shooting, bigger than Biddeford, bigger than Maine. We will not stop fighting until there is justice for the Durán Guerrero family and a total dismantling of this lawless, criminal agency that took him from them.”

“Lorenzo Salgado Araujo was a husband, a father of three, and a small business owner who built his American dream with his own hands. Johan Sebastian Guerrero was killed in front of his partner and his toddler,” said Juan Proaño, Chief Executive Officer of the League of United Latin American Citizens (LULAC). “ICE has now taken the lives of immigrants and U.S. citizens alike, and if they can kill Lorenzo and Johan, they can kill anyone. On July 25, LULAC’s members and councils will stand vigil with neighbors in communities across this country to demand transparency, independent investigations, and accountability for every life taken.”

“We are all in danger from the brutality of ICE, and the killings of Lorenzo, Johan, Juan Hairo —and all those who have been killed by this rogue agency—prove that no one is safe,” said Erika Andiola, NDLON Political Director. “We must unite to defend ourselves and honor immigrant workers and day laborers, who endure the worst anti-immigrant hatred while building our communities and defending human rights. Today, we gather to mourn them and demand an end to ICE’s reign of terror.”

“A government-authorized paramilitary force is roaming our streets, terrorizing, abducting and murdering human beings,” said Robert Weissman, Co-President of Public Citizen. “This weekend, thousands of Americans at hundreds of events across the country will gather to mourn the shameful loss of life, demand accountability for perpetrators and insist on an end to the cruel and deliberate Trump administration policy choices that make these kinds of killings all but inevitable.”

“ICE kills people, separates families, and threatens community safety across the country – full stop. No one is safe when ICE is present – whether on the streets or in one of the agency’s more than 200 abuse-ridden detention facilities,” said Setareh Ghandehari, Advocacy Director of Detention Watch Network. “People are dying in ICE detention at a record-breaking rate, ICE agents are tearing families apart and shooting people on the streets, making people less safe, and causing chaos wherever they go — whether in Minneapolis, Chicago, Los Angeles, Houston, Biddeford, or beyond. No more abuse and death at the hands of ICE and no more ICE funding while people lose health care, struggle to pay rent and kids go hungry. We demand an end to the ICE age.”

“The deaths of Lorenzo Salgado Araujo, Johan Sebastián Guerrero, and now Juan Jairo Coronilla Duran are not isolated tragedies; they are the direct result of the administration’s drastic and dangerous expansion of immigration enforcement, fueled by the $270 billion in funding to ICE and CBP. These hundreds of billions to terrorize communities are financed by historic cuts to health care, and the American public is rightly outraged by these killings and cruelty,” said Todd Schulte, President of FWD.us. “We will continue to fight against this ICE violence that is tearing families apart, against the expansion of enforcement and for a more just and human approach to immigration.”

“Lorenzo Salgado Araujo was driving to a job site with his crew. Johan Sebastian Guerrero was starting his day as a delivery driver, with his wife and toddler beside him. They were doing what millions of immigrants do every day. And ICE agents gunned them down; for working. This is not immigration enforcement. This is lethal state violence against people who are our neighbors, family members, and friends, and it has to stop. For over a year, Workers Circle activists have taken action week after week through our Freedom Vigils, bearing witness outside detention facilities like Alligator Alcatraz until we shut it down in June and refusing to let this cruelty happen in the dark across the nation. Lorenzo and Johan’s deaths are part of the same fight for human dignity and Constitutional rights, now out in the open for the whole country to see” said Noelle Damico, Director of Social Justice at The Workers Circle. “On July 25, we’re bringing that same determination and love to communities from Houston to Maine and everywhere in between, because we owe Lorenzo and Johan and their families more than grief — we owe them justice. We will not look away, and we will keep speaking out until we end ICE’s reign of terror in our communities once and for all.”

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The July 25 Day of Action is being organized by volunteers, neighbors, families, and organizations nationwide, with support from the Disappeared in America project hosted by Public Citizen, the National Day Laborer Organizing Network (NDLON), The Workers Circle, Detention Watch Network, and the League of United Latin American Citizens (LULAC). A core principle behind all Disappeared in America events is a commitment to nonviolent action.

It has become a theme of this newsletter to lay out what is needed to tackle financial crime, and then to point out how the U.S. government is doing the opposite, and I assure you that I am as bored of it as you are. I try therefore to avoid writing about Donald Trump any more than I have to, but I’m afraid I very much do have to address the subject of the $250 bill.

Criminals adore banknotes, thanks to their anonymity and convenience, and that love has only grown as the financial system has become more regulated. They love high-denomination banknotes most of all, because they let criminals move a lot of value in the smallest possible space. 

This is why the proportion of $100 bills among the banknotes printed by the Federal Reserve increases year after year. Two decades ago, $100 bills made up 64.4% of the value of outstanding dollar banknotes; at the end of 2025, it was 81.8%. And the total number of notes has increased massively: 5.4 billion in late 2005; 19.9 billion last December.

If I could click my fingers and make one thing happen to stop money laundering, it would be to stop central banks printing large denomination banknotes (as has happened in the past in Singapore, and in the Eurozone). The Federal Reserve is not the only offender — the European Central Bank still has €200 bills, the Swiss have 1000 franc notes, the Brits have £50 notes – but the $100 is by far the most widespread of these big bills and thus the most egregious example. There are almost four times more of them in circulation than all the big euro-denominated bills added together.

So what is the White House doing about the problem of large denomination bank notes? “Trump administration officials have pressed the office responsible for printing the nation’s money to design a $250 bill featuring the president’s portrait,” reports the Washington Post. Treasury Secretary Scott Bessent said he didn’t think that there was anything “untoward” about having the current president of the United States on the 250th anniversary bill.

Look, I like the word “semiquincentennial” as much as anyone else who has had to squint at it for a while to work out what it means. And I appreciate that Americans are rightly proud of how long their republic lasted before beginning to turn into a monarchy, but it would be nice if someone in power at least acknowledged how grotesque it is to float the idea of printing a banknote that’s even more useful to criminals than the existing ones.

Sanctions need enforcement

There is better news from the United Kingdom, where the government has expanded its sanctions against crypto firms helping Russia finance its war in Ukraine, with a raft of new designations, including against HTX (previously known as Huobi), one of the largest exchanges in the world and one that is linked to billionaire Justin Sun, who has promised full compliance with the sanctions.

What is interesting about this is that the UK is getting ahead of the United States, with which it has historically cooperated closely when issuing sanctions. “Anyone that's been in this space for a minute knows what a disaster Huobi is,” wrote crypto-watcher Richard Sanders on linkedin. “Quite frankly, the UK took an action the U.S. should have a long time ago. The UK realized the U.S. isn't going to do this under the current administration. The UK, justly, got sick of waiting for this industry to do the right thing, as much as they got sick of waiting on other countries.”

That said, sanctions create a lot of compliance for law-abiding firms and individuals keen to avoid evading them. And the chances that law-breakers will be caught if they decide to engage with HTX regardless? Well, not very high, judging by a new report into the UK’s lead agency for serious and organised criminality.

“The National Crime Agency (NCA)’s IT infrastructure isn’t fit for purpose. This systemic weakness affects the entire agency,” the report says. “‘When I started in policing 15 to 20 years ago, I had better technology than I do in the NCA’,” one officer is quoted as saying.

So, how can officers trace online criminality if even their own systems don’t work? Not very well, not least since the government, in its futile attempts to stave off the political challenge from the far right, has assigned much of the agency’s workforce to tackling immigration (incredibly, even officers focussing on child sexual exploitation have been moved). “Some interviewees told us their teams were operating at 50 percent below previous levels. One interviewee told us that the effect of this was that they were ‘receiving more work with less resource’,” the report says.

So, once more, we are back to the old anti-money laundering model of more expensive compliance for the good guys, and no consequences for the baddies, since there is no one to investigate them. Sanctions are no substitution for police work, and one day someone will realise that. They work for a bit — see the graph of trades in the Russian cryptocurrency A7A5 for an example on Justin Sun’s Tron blockchain — but then someone works out a way around them, and everything carries on as before, because none of the people committing the crimes have been affected.

“The government has consistently failed to provide proper investment that would allow the NCA to provide an effective enforcement response to the range of serious threats the UK faces,” said Susan Hawley, head of Spotlight on Corruption.

But corrupt politicians and enforcement agencies can be exposed. So congratulations to the excellent folks at the French anti-corruption group Sherpa who have secured another victory in their delightfully successful campaign against the corrupt financial ties between Paris and the rulers of its former colonies in Africa. All the way back in 2007, Sherpa started its battle with French authorities that were refusing to investigate the wealth of their political allies. Thanks to its persistence, cases were brought against multiple politicians, most notably from Equatorial Guinea, and now the niece of Denis Sassou-Nguesso, president of the Republic of Congo. She will appeal, so this is not over, but it is further proof of how effective hard-working advocacy organisations can be.

A version of this story was published in this week’s Oligarchy newsletter. Sign up here.

The post Donald Trump’s $250 gift to launderers and criminals appeared first on Coda Story.

A top banker has got in trouble by referring to employees whose jobs will be replaced by AI as “lower-value human capital.” But he’s just saying the quiet part out loud: compliance officers have been expected to work like inefficient computers for years already anyway. Standard Chartered CEO Bill Withers used the unfortunate phrase when describing how the bank plans to keep hitting its profitability targets by cutting 15% of back office staff, and has tried to backtrack a little after a predictable storm of criticism, including from the former president of Singapore. 

It would be nice to think of bank employees deployed to fight financial crime as super-effective old-school gumshoes, with a bottle of bourbon in the bottom drawer and an inexhaustible stock of one-liners, but in reality their jobs are more like something from ‘The Office’ than ‘The Big Sleep’.

Thousands of people sit in cubicles in Warsaw or Bengaluru, checking through transactions flagged as possibly abnormal by banks’ automated systems, and confirming that 99% of them are, in fact, normal. Anything that might conceivably be abnormal gets sent up the chain, where someone more senior will almost certainly decide it wasn’t. 

It is a ruinously expensive process and, as far as we can tell, completely ineffective. The best estimates we have for the size of the criminal economy suggest it has grown, untroubled, along with everything else for decades despite all the laws, fines, and prosecutions that we’ve thrown at the problem. 

But banks’ financial crime compliance isn’t about stopping financial crime at all: it’s about stopping banks from being fined, as Standard Chartered has previously been, enormous sums in both the U.S. and the UK. As long as banks can be sure that AI checks boxes in ways that satisfy regulators, then they’ll be happy.

This is a little bit worrying because AI is already getting very good at fraud. I am very alert to attempts to trick me but was sufficiently fooled by an AI email yesterday to forward it on to someone. Fortunately, a very similar one arrived (purportedly from someone else) a few minutes later, alerting me to my mistake. Money laundering is a laborious activity and criminal gangs will be as keen as banks to cut their back office expenditure, and AI could help automate the processing of the many small transactions that add up to a large amount of money. Phishing and smurfing are just a couple of its use cases, however.

“Scammers can leverage AI to scrape data from social media and dating platforms to identify vulnerable targets (e.g. lonely individuals, recent retirees, or people interested in finance) for pig butchering scams,” notes TRM Labs. “Bots can sustain long-term, emotionally persuasive conversations without tiring or making mistakes, making the scam more scalable.”

And that’s before you get onto AI’s ability to exploit cryptocurrencies and smart contracts to really start rampaging through the crypto world. “TRM observed a roughly 500% increase in AI-enabled scam activity over the past year. The convergence of generative AI, programmable financial infrastructure, and global crypto liquidity has altered the economics, velocity, and scalability of fraud,” the blockchain analytics firm said in a follow-up report. This is very bad indeed.

So, although I can see why people are annoyed that Withers referred to his bank’s employees in such a disparaging way, I am more troubled that he’s planning to replace them with AI, rather than to retain them and train them in how to counter it.

It was remarkable, however, to see Warren Davidson, chair of the illicit finance subcommittee at the House of Representatives Financial Services Committee, draw precisely the wrong conclusion from all this. Although he was correct in condemning the defensive nature of compliance, and its focus on generating paperwork over results, he then got lost in praising the White House’s decisions to attack corporate transparency legislation.

"As we focus on risk, we must also ensure that tools like artificial intelligence are fully deployed to counter the AI-enabled crimes of today,” he said, without realising that, without reliable information to train the AI models on, this is as useless an approach as the one he says has failed. If you don’t know who owns what, neither will a computer, no matter how cleverly it can pretend to be human.

I sincerely hope he listened to the testimony of Carole House of the Atlantic Council who forcefully pointed out the harm to national security and to ordinary Americans caused by the United States’ failure to create even an approximation of a decent corporate registry, as well as the historic idiocy of its current crypto policy. “Without a secure identity foundation, AI agents will simply scale up fraud at a speed and volume that human investigators can't possibly track, destroying trust in the whole system,” she said in testimony that I highly recommend you take a look at.

I very much doubt Davidson was listening, however, because that is not the direction the Republican Party is going in right now. I would write more about that, but frankly it’s all too depressing, and I’d rather move on.

So let me point you towards this excellent paper on how online scam marketplaces work, with criminals using the messaging app Telegram and the stablecoin Tether to launder hundreds of billions of dollars. It argues that our current approach of sanctioning exchanges is futile since their owners just shut them down and switch to a new platform that works in the same way but hasn’t yet been sanctioned.

“As long as the underlying digital infrastructure remains permissive, criminal syndicates will simply migrate to new channels. To move from reactive disruption to systemic prevention, the international community must shift its focus toward the structural enablers of these marketplaces,” Elliptic’s Tom Robinson argues. Elliptic is unusual among blockchain analytics companies in being willing to name Tether as a major vector for money launderers. Its rivals tend to just say “stablecoins,” I have no idea why.

Meanwhile, there is something grimly depressing about the fact that — against the backdrop of, well, everything — the UK has postponed June’s illicit finance summit due to “scheduling issues in the international calendar.” Everyone is so busy dealing with the consequences of illicit finance, that no one has time to talk about illicit finance.

A version of this story was published in this week’s Oligarchy newsletter. Sign up here.

The post AI is not the answer to AI-enabled fraud appeared first on Coda Story.

While much of the media industry focused on the churn of headlines, we became increasingly interested in the undercurrents beneath them: the hidden systems, infrastructures and ideologies shaping events across borders and over time.

Again and again, our reporting led us back to the same realization: for a long time, the struggle over information was understood primarily as a question of censorship or access. Who controls information? Who gets to publish? Who gets silenced?

Those questions still matter. But they no longer fully describe the world we live in.

Today, the struggle over information is about who builds the systems through which reality is organized, distributed and trusted. From state propaganda to algorithmic feeds, from platform monopolies to AI-generated noise, the battle is not over facts. It is over the infrastructures that determine which narratives spread, which voices are amplified and which communities remain connected.

Over the past year, these questions led to a collaboration between Coda and The Continent, the pan-African newspaper founded in Johannesburg by Simon Allison and Sipho Kings. Although our reporting emerges from very different histories and geographies, we found ourselves arriving at remarkably similar conclusions about power, fragmentation and the future of journalism in an age of informational instability.

This two-chapter essay is the beginning of that collaboration, and marks the start of a new project called The Atlas. Pilot edition is available here — please feel free to share with friends, family and colleagues, preferably in its entirety.

In Chapter One, I return to the world of my Soviet childhood: propaganda, samizdat and the search for trustworthy signals through noise.

In Chapter Two, The Continent co-founder Simon Allison presents the Parable of Sinn Sisamouth: the story of how some of the greatest songs ever written were nearly lost, and then found, and then lost again. 

Taken together, these essays ask what journalism becomes in a world where information is no longer organized primarily to inform, but to capture attention, manufacture reaction and shape perception at planetary scale.

The Atlas grows out of that question.

Chapter One: Through the Static

Whenever I am asked why I decided to become a journalist, an image from my childhood pops into my head. It’s dusk. I am 10, sitting in the kitchen with my mom. She is glued to a shortwave radio. Outside, the Soviet Union is on the cusp of collapse. Georgia, where we are, is on the brink of civil war. We didn’t use the term back then, but fake news was all we got through official channels. Real news — coming from the West — felt like a lifeline. I was in awe of the crackling radio that held my mother’s full attention. I wanted to become that voice.

Years later, I got my dream job at the BBC and spent much of my adult life moving between wars, uprisings and authoritarian states. Again and again, I found myself in places where truth was contested terrain: Baghdad, Damascus, Donetsk, Sana’a. But over time I realized something fundamental had changed. Modern authoritarianism no longer relied primarily on suppressing information. It had discovered something more effective.

Information could simply be drowned out by static.

That realization became stark for me in eastern Ukraine in the summer of 2014. I arrived in a field of bright yellow sunflowers where the bodies from Flight MH17 still lay scattered across the ground. A Russian missile had blown the passenger plane out of the sky, killing all 298 people on board. Yet almost immediately, the Kremlin flooded the information space with competing explanations. It was a Ukrainian fighter jet. A failed assassination attempt on Putin. The plane had been filled with corpses before takeoff. Each theory contradicted the next, but that hardly mattered. The point was not to persuade, it was to exhaust. It was to create so much noise that truth itself began to feel unstable.

Over the following years, I watched versions of the same logic spread far beyond Russia. Social platforms transformed public conversation into a permanent stream of outrage, performance and distraction, collapsing vastly different kinds of information into the same endless feed. War footage, propaganda, conspiracy theories, journalism and gossip all began competing inside systems designed not to inform people but to capture and hold attention.

Noise became the new censorship.

And increasingly, I found myself thinking about the world of my childhood again. Not because history was repeating itself neatly, but because the emotional landscape felt strangely familiar: confusion, exhaustion, distrust, the constant sense that reality itself was becoming slippery. Back then, people searched desperately for clear signals through the static of Soviet propaganda. Today, we are drowning in a different kind of static, but the instinct, the search for clarity feels remarkably similar.

In the Soviet Union, people developed ways of navigating that confusion. Among my strongest memories from that time is the sound of my parents’ typewriter late at night. Friends would pass around copies of banned Soviet literature and my parents would sit at the kitchen table all night, retyping them page by page so they could be shared again. It was my first encounter with samizdat, although I didn’t know the word then.

Looking back now, what strikes me is that samizdat was never simply about forbidden texts. It was about building trusted alternative systems of circulation when official systems had lost credibility.

At Coda, we have spent years building journalism against the logic of noise. We slowed stories down. We followed themes instead of headlines. We built a reporting system designed to connect events across borders and over time, helping readers see patterns instead of fragments. But as our globally distributed newsroom adapted to an increasingly fractured information landscape, it became clear that journalism alone was not enough. Distribution shapes understanding as much as reporting does.

Around the same time, in Johannesburg, Simon Allison, Sipho Kings and their team were building something that challenged many of the assumptions dominating digital media. The Continent, their pan-African newspaper, spreads largely through direct sharing networks: passed from reader to reader rather than pushed by algorithms.

Different histories had brought us to remarkably similar questions. What does journalism look like when trust is collapsing, attention is fragmented and the systems that carry information have themselves become instruments of power?

Out of that convergence came The Atlas: a new publication that brings together Coda’s methodology of following systems across borders and over time with The Continent’s radically distributed model for reaching readers beyond algorithmic feeds.

The Atlas is built on a shared conviction: as fragmentation, distrust and informational overload spread across the world, some of the clearest ways through will come from places that have already spent decades navigating propaganda, instability and contested reality. Places once treated as peripheral are becoming essential to understanding the defining question of this age: how can meaning survive systems designed to overwhelm it.

Chapter Two: The second silencing of Sinn Sisamouth

Imagine if your favourite song disappeared, forever. 

Almost every album I have ever loved was recommended to me by my friend An-Rui. A few months ago, he sent me a track by the undisputed King of Khmer Music, the Golden Voice, the Cambodian Elvis himself – Sinn Sisamouth.

I had never heard of him.

I didn’t respond at first, so he nudged me. That night, after the kids were asleep, I put on my headphones, sat in the garden and immediately lost myself in Cambodia’s psychedelic rock scene of the 1960s and ‘70s. I don’t know enough about music to explain exactly what I fell in love with, but within weeks I was, according to Spotify, among the top one percent of Sinn Sisamouth listeners worldwide.

An-Rui had added a note to his recommendation. “the songs are happy but since i know what his fate was and i don’t understand the words, it sounds incredibly sad to me”.

The story goes something like this: A small-town boy with an extraordinary voice moves to the big city, and conquers all before him. He writes hundreds of songs, bridging Khmer musical traditions with new western influences: jazz, rock & roll, bossa nova, blues, the Beatles, and, of course, Elvis Presley. He toured the country. He toured the world. He made music with an actual King, Norodom Sihanouk, and became Cambodia’s most beloved rockstar.

Then, in 1975, the Khmer Rouge seized power. In the course of committing a genocide, the communist regime disappeared Sinn Sisamouth, and banned his music. He has never been seen, or heard from, again.

But his music never died. It lived on brittle records, hidden for generations under floorboards. It lived on scratchy cassettes, passed hand to hand among the diaspora.

It was only decades later that his music was digitised and remastered, and made available on streaming platforms to the likes of me.

When I listen to Sinn Sisamouth, I can’t help but think about how easily we could have lost his masterpieces entirely. And I wonder what else might have been lost that we have not been able to recover.

And then it happened again.

There’s a particular track that I like to play in my car, where I can turn the bass up as high as it goes. I was driving one afternoon and looked for it on Spotify. It was gone, even though the rest of the album was there. 

I looked again on my laptop at home. Nothing. Gone from Spotify. Gone from Apple Music. Gone from YouTube. Like it had never been there in the first place. I started to wonder if I had gone crazy, and maybe imagined the song entirely. And then I started to panic: What if I never heard it again?

Eventually, I found a bootleg YouTube version, using a different transliteration of the Khmer title – Kanlang Pnheu Pran, instead of Konlong Phner Bran. Before I tracked that down, I had to wade through dozens of AI-generated Sinn Sisamouth ‘cover versions’, all uploaded to YouTube within the last few months. If I had never heard it before, I would never have been able to tell which was the original.

It’s not unusual for songs to disappear from the Internet, especially when the music is from non-English-speaking countries. I’ve had similar experiences with the music of Sharhabil Ahmed, the Sudanese jazz legend, and Ethiopia’s Tilahun “The Voice” Gessesse.

In fact, it’s not unusual for other kinds of information to disappear from the internet; to be edited after the fact; or to be simply lost among all the digital noise. Digital information is incredibly precarious, and becoming more so by the day. AI slop is taking over social media platforms. Algorithms determine what information we can and can’t see, shaping our cultural and political preferences. And powerful interests are becoming increasingly bold when it comes to brazenly manipulating information in their favour – or, of even greater concern, restricting the flow of information across borders.

Amazon changes the contents of books on people’s Kindles without telling anyone. News websites quietly alter critical stories, post-publication, to remove evidence of wrongdoing (my favourite example: the Financial Express published a story critical of India’s richest family; only to replace it with a glorified press release a few days later. They neglected to amend the URL, however, which contains the original headline). Governments shut down internet access on a whim, or legislate which apps and websites are available to specific populations.

For journalism, this is an existential threat. Our job is not just to hold power to account – it is also to write the first draft of history. But if we can’t preserve that first draft, or distribute it effectively, then what, exactly, is the point?

The Continent and Coda Story are working together to try something different. We want to publish news about the world, produced and verified by humans, that cannot be edited after the fact; and to distribute it in a way that dramatically decreases our reliance on unaccountable algorithms or search engine optimisation. The Atlas — pilot edition available here — is our answer to the precarity of information online. It’s a work in progress.

Stay tuned: if we’re going to succeed, we’ll need your help. And if we do succeed, the secret of our success will be those very same transnational networks that kept the music of Sinn Sisamouth alive. Communities of like-minded people, of friends and families will always find a way to stay connected, no matter how vast the distances between them, or how great the obstacles. So what does a global newspaper look like if we design it with exactly these communities in mind?

As soon as I found that bootleg on YouTube, I ripped an MP3 copy and sent it to An-Rui on Signal. “KEEP THIS SAFE,” I told him. I don’t know what happened to the song on Spotify, or if it is ever coming back. But I can’t take the risk of never hearing that bassline again. And here it is, in case you want to hear it too.

The post The new samizdat appeared first on Coda Story.

Donald Trump and the crypto world have done well out of each other. The Trump family has made profits of several billion dollars, and ‘cryptopreneurs’ have found the United States a newly supportive environment for their products. But the crypto world is not a single entity, and there are potential differences of opinion and approach between the parts that specialise in fraud, money laundering, and speculation (as well as the small number of societally beneficial uses), and a court case between billionaire Justin Sun and the Trump family’s World Liberty Financial threatens to blow those divides wide open.

He also had a key role in transforming Trump from cryptosceptic into cryptoenthusiast after investing millions of dollars in World Liberty Financial in late 2024, which helped to persuade the president — then running for re-election — that there was money to be made on the blockchain. 

Considering the improbability of the Trump family building an actually successful crypto company, and the strong likelihood World Liberty Financial would find a way to keep investors’ money as has happened with Trump ventures in the past, quite a lot of people assumed Sun’s money was in reality more of a gift than an investment. But it appears these doubters were wrong, at any rate that’s what it says in the suit that Sun has filed in California alleging that World Liberty Financial has abused his rights.

“Mr. Sun invested $45 million to purchase $WLFI tokens from World Liberty not only because of the project’s claims that it would promote adoption of decentralized finance… but also because of the Trump family’s association with the project,” his claim states. “But as Mr. Sun unfortunately has learned, World Liberty’s operators, including Chase Herro, see the project as a golden opportunity to leverage the Trump brand to profit through fraud.”

Sun has been careful to make clear this is not an attack on the president (“Unfortunately, certain individuals on the World Liberty project team have been operating the project in a manner that goes against President Trump’s values,” he posted on X), who is, he says, being betrayed by underlings — as autocrats have always been throughout history —  but he is certainly airing a lot of dirty laundry, which is likely to upset influential people.

Perhaps the most significant allegations, which World Liberty Financial denies, is that the Trump family’s company is on the verge of collapse, having paid most of its money to its owners, and that it tried to extort money from Sun to keep it in business. This is not just significant for its investors but also for America’s diplomatic ties, since Abu Dhabi has invested $2 billion via World Liberty Financial’s USD1 stablecoin, and the United States can ill-afford to further irritate its allies in the Gulf right now.

The timing of the lawsuit is interesting. It was notable that, shortly after Trump returned to the White House, the Securities and Exchange Commission paused its investigation into Sun. In March, that investigation was finally wrapped up, with Sun paying $10 million but not admitting wrong-doing, so he is perhaps no longer concerned about facing legal action himself.

Sun was also a major investor in Trump’s memecoin, but is not the only person who seems to have soured on that particularly unlovely project. One of the perks of being an investor in the token is the right to have dinner with Trump, but the value of that ticket dropped this year to just $539,000 from $3.28 million in 2025, with the Financial Times quoting an expert as calling the friendship between Trump and the crypto-world “a shotgun marriage,” which seems fair.

The Trump family has, however, made $320 million in fees from the memecoin alone, so I suspect they’re not that bothered.

A tale of two scammers

There was, hard though it is to imagine, a time when Trump was just a strangely-tinted TV personality with strong views on where Barack Obama was born. And back then, in those prelapsarian days, 2014’s billion-dollar Moldovan bank fraud was a big deal. It’s great to see that mega-oligarch Vlad Plahotniuc has been jailed for 19 years for his involvement in a crime that ruined his homeland.

Moldova has struggled through the resulting period of economic, financial, diplomatic and political turmoil, and it was great to see that Viktor Orbán’s defeat in Hungary has meant it can make progress on its movement towards membership of the European Union.

The other mastermind of the bank fraud is pro-Kremlin politician Ilan Shor who was convicted and sentenced in absentia. He remains, of course, at liberty. Though his A7A5 sanctions-evading cryptocurrency has still not recovered the trading volume it had before the recent hack of the Grinex trading platform where people bought and sold it. Grinex blamed the hack on Western intelligence agencies, but Chainalysis has an interesting alternative explanation, based on the fact that A7A5 is gradually being squeezed by Western sanctions (including the latest ones from the European Union).

“Faced with mounting international pressure and a shrinking operational footprint, actors associated with Grinex could be using the guise of an alleged hack to quietly siphon liquidity and execute an exit scam,” Chainalysis suggested. I’m not saying that is what happened and to be honest, I think it’s more likely that this was the handiwork of Ukrainian hackers or standard financial criminals. I mention it, however, because Shor does have a previous record when it comes to setting up a money laundering scheme and then defrauding everyone who was foolish enough to trust him with their money. 

The billion-dollar bank fraud was a clever way to profit out of the ‘Moldovan Laundromat,’ which had been allowing Russians to smuggle money out of their homeland before Shor and his co-conspirators destroyed the Moldovan banking system and stole everyone’s cash. It would be remarkable if he had basically done the same thing for a second time with his stablecoin. Crypto people call it a rug pull.

A version of this story was published in this week’s Oligarchy newsletter. Sign up here.

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It starts with a simple search term in the Department of Justice’s Epstein Library. “Blue eyes.” Hundreds of results. Jeffrey Epstein’s international trafficking agents send him pictures and descriptions of blue-eyed young girls: potential victims to be dispatched to his various homes. “I spotted two skinny blond blue eyes 21 years old ladies in Monaco last weekend and asked them for CVs,” one agent, whose name has been redacted, wrote. “Trying her best to move from her small town to Moscow; English isn't great. Could be fun for Paris, blue eyes,” wrote another. “Can't understand if her breast is real. Otherwise very pretty and sweet…Very blue eyes as we like.” 

One of Epstein’s victims wrote of being chosen for her eye color in a journal entry later shared with federal prosecutors. "Superior gene pool?!? Why me?" she wrote, describing Epstein's worldview as "Nazi like." "It makes no sense. Why my hair color and eye color?" 

Epstein — himself blue-eyed — seemed to prefer both his victims, and the people he bankrolled, to have blue eyes. “All of my fundees have blue eyes,” he boasted in one email. In the entryway of his Manhattan townhouse, he displayed dozens of prosthetic eyeballs in a frame. Epstein made notes and sent article links to his contacts asking if having blue eyes meant you were more intelligent or a “genius”. He even had a list of scientists and tech leaders with blue eyes — including Elon Musk, Peter Thiel, and Google’s Ray Kurzweil. “Total — 70 people Blue eyes — 41 Unclear (might be blue, but not 100% sure)” the list says. Appearing in the files — whether on this list or elsewhere in Epstein's records — does not connote legal wrongdoing.

Going deeper into the files, Epstein and his network of contacts discussed beliefs about how physical characteristics and race might denote intelligence. They exchanged emails about population control. They spoke of engineering women’s sex drives, building designer babies, and living in a world full of superintelligent humans that could merge with robots. They spoke of getting rid of the elderly, the infirm, and the poor.

The files offer a glimpse into a world where ideas about eugenics and race science have never gone away. On the contrary, they run through our elite universities, through the most powerful companies in Silicon Valley, and through the tech industry itself. Epstein’s was an exclusive club that counted among its members people who harbor dreams of re-engineering human minds and bodies, seizing control of our collective future, and building technology that, they hope, will one day merge with — or even replace — all of us.

In 2002, two decades before the launch of ChatGPT, Epstein hosted an Artificial Intelligence summit on his Caribbean island. In the years that followed, he cultivated close, regular contact with a network of  (predominantly male) scientists, researchers, academics and tech leaders working at the vanguard of AI, biotech, genetics and cognitive science, meeting them at universities like Harvard and at his various homes. 

In August 2018, a year before Epstein was found dead in his jail cell, he was in email correspondence with software consultant and bitcoin investor Bryan Bishop about funding a project to create “designer babies” — children with genes cherrypicked for their looks, health, strength, immune systems, sleep needs and even, in Bishop’s imaginings, abilities to live on a different planet. 

  “Attached is the doc you requested, it's the "use of funds" spreadsheet for the designer baby and human cloning company,” Bishop wrote to Epstein. “This gets us out of our self-funded ‘garage biology’ phase to the first live birth of a human designer baby, and possibly a human clone, within 5 years. Once we reach the first birth, everything changes and the world will never be the same again.”

Bishop went on to discuss how his ultimate ambition was to make “practically unlimited modifications to the cells before generating an embryo.”

In response to a request for comment, Bishop sent Coda a publicly available set of answers to frequently asked questions about designer babies.

“The reason people have an aversion to eugenics, and rightfully so, is because countries used genocide and sterilization to prevent reproduction by populations that they didn’t like. We have no intention of doing anything of the sort,” Bishop writes in the public FAQ. “‘Designer baby’ simply describes a child whose genome has been intentionally altered or chosen by their parents, rather than left entirely to the genetic lottery of natural conception.”

“It’s such a great subject,” Epstein responded after he read Bishop’s proposal. “We need to get a read on legal. Can’t do anything where US rules apply to US citizens regardless of where [they are].” 

Building a super-race of humans, and parachuting humanity into a different evolutionary era — or even obsoleting the human race as we know it — is a running theme in the Epstein files, and an increasingly prominent ambition for tech evangelists today.

“It’s eugenics all the way down,” said Jacob Metcalf, a founding partner at Ethical Resolve, a consulting firm working with tech companies to develop their ethics protocols. A common fantasy in tech circles, he said, is “to essentially control human destiny. And a lot of the times that human destiny is for humans to be replaced. That's the really bleak thing here. What could be more eugenic than getting rid of humans.”

In 2008, Epstein began conversations with the computer scientist Ben Goertzel. Over the years, Epstein would send Goertzel more than $360,000 to fund the researcher’s plans to build towards Artificial General Intelligence (AGI), a term Goertzel himself popularized.

“I remain eager to move forward on working together to accelerate progress toward a human-obsoleting thinking machine,” Goertzel wrote to Epstein in May 2008. Eighteen years on, and the idea of obsoleting humans with artificial intelligence is widely discussed in the tech world.

When asked to comment on his exchange with Epstein, Goertzel told Coda: “I do think we will create forms of transhuman intelligence going beyond the scope of humanity as we know it, but I also very much hope and envision a strong role for humans even after this happens.”

Goertzel went on to describe a future where the world reaches the “Singularity” — a Silicon Valley buzzword signifying a tipping point where AI surpasses human intelligence. “I do think AI will eventually gain its own superhuman autonomy, but I think this can happen in a way that respects and nourishes human life rather than being harmful to it,” he said. “Epstein and I discussed this face to face a few times and indeed I was a bigger fan of the human species than he was, and more optimistic about its flourishing post-Singularity.” 

In an email to Epstein, Goertzel laid out a scenario where AI systems would start running their own economic activity. He envisioned this Artificial Intelligence economy acting as a “parasite to overcome the regular human economy” that would eventually “gain its own superhuman autonomy.” The ideas Epstein and Goertzel exchanged mirror a broader conversation unfolding in the tech world that imagines a future where ultimately, human labour could be rendered superfluous, and ultimately be replaced by artificial intelligence and robots.

Together, Goertzel and Epstein also discussed modifying human brains — a concept popular in Silicon Valley today, where numerous brain-computer projects are researching ways to cognitively enhance the human brain, and alter human personality, memory, and mental capabilities.

In 2008, when Epstein told Goertzel he was “off to jail” for a year, after he was convicted of soliciting a minor for prostitution, Goertzel suggested the solution to his problems might one day be solved if human brains could be re-programmed.

“According to my understanding, the girls you were involved with were old enough to know what they were doing, so society really has no ‘moral right’ to lock you up,” Goertzel wrote to Epstein. “This is a fucked-up society we live in. But past ones have really been no better -- the fault is really w/ the human brain architecture, which is precisely what I'm aiming to supercede in my AGI work.”

When asked to comment on these remarks — and in particular the implication that Epstein’s problems might be solved if his accusers' brains were one day re-engineered — Goertzel told Coda: “This was a general observation that the messed-up nature of our society generally is rooted in the way our brains have evolved... and that advanced tech will let us modify our brains to make ourselves and thus our society better.  There was no implication intended (nor stated) that women’s brains are any more or less messed up or in need of improvement than men’s.”

Goertzel reflected that his comments on Epstein’s victims being “old enough” were “regrettable and unfortunate in hindsight,” adding that his impression was that Epstein had been involved with adult women, not “disgustingly curating high school students for sexual purposes. I should have paid more attention.” 

In 2013, three and a half years after Epstein was released from jail, Goertzel approached Epstein for funding to build a “toddler robot”. Given Epstein’s criminal history of abusing minors, this has inevitably attracted attention online. “When we were discussing measuring the IQ of robot toddlers, the topic was never sexualized in any way,” Goertzel told Coda when asked about the project. “While I had nothing to do with Epstein's perverse sexual tastes or abuse of women, what I have read about his awful doings in the newspapers relates to his interest in teenage girls not toddlers.”

Epstein was particularly interested in funding projects that built — like Goertzel’s –- on transhumanist theories. Transhumanism is a worldview that captivates many of the most prominent tech leaders in Silicon Valley today. It believes in a future when the human body can be endlessly altered, genetically engineered, and ultimately fused with artificial intelligence. 

“Transhumanism is a much more radical concept than eugenics,” explained Timnit Gebru, a computer scientist and researcher who has written extensively about eugenicist ideas within artificial intelligence. “In eugenics, you're trying to create a more superior human by breeding humans through generations. In transhumanism, you're trying to get rid of humans altogether.”

For transhumanists, she added, “their idea is to get rid of any undesirable properties they see with humans."

Perhaps the most well-known proponent of transhumanism in the Epstein files is Peter Thiel.

“I think you would prefer the human race to endure, right?” New York Times journalist Ross Douthat asked Thiel last year. “Uh—,” Thiel said. “This is a long hesitation!” Douthat said. “Should the human race survive?” “Yes, but I would like us to radically solve these problems,” Thiel said. “We want you to be able to change your heart and change your mind and change your whole body.”

Thiel’s name appears in the files more than 2000 times, and Epstein reportedly invested some $40 million into Valar Ventures, a firm co-founded by Thiel. The two spoke of building secret societies and shared an interest in transhumanism and cryogenics — Epstein wanted to freeze his brain and penis when he died, so that one day he could be revived, while Thiel has also stated his body will be frozen after his death. 

They also appeared to share an interest in bringing an end to the democratic systems of today, imagining a different system altogether. Epstein, for his part, spent his life puppeteering the most powerful people in the world and undermining democratic systems. Thiel, meanwhile, first expressed his own anti-democratic views in 2009 when he wrote: “I no longer believe that freedom and democracy are compatible,” adding that since women were allowed to vote, the notion of a capitalist democracy became impossible. When the Brexit vote came through, Epstein wrote to Thiel: “Brexit, just the beginning.” Thiel asked — “of what”; Epstein said – “Return to tribalism, counter to globalization, amazing new alliances.” 

Globalization — and the idea of internationally powerful governing bodies — is a worldview that both Epstein and Thiel seemed to distrust. In March, in a palazzo in Rome, a stone’s throw from the Vatican, Thiel gave one of his infamous lectures in which he espoused his views about an “antichrist” that gets in the way of technological progress. This antichrist, he suggested, could be an internationally powerful body; the product of globalization. I stood outside the palace as attendees — priests, students, researchers — mutely hurried out, refusing to speak to the cluster of reporters waiting for Thiel’s black Mercedes. 

“He has a totally irrational side, which lives on fear, of what danger might happen,” one audience member told me of Thiel on condition of anonymity, recalling how, up close, Thiel looked haunted and ill. “His head is full of future scenarios, which is what’s killing him. I think he’s scared.”

Thiel did not respond to multiple requests for comment. 

Epstein didn’t confine himself to lofty conversations about a future collapse of the global order or re-engineering humanity. He also had ambitions for his own personal eugenics project. In 2019, it emerged that he wanted to seed the world with his DNA — and reportedly have 20 women impregnated at a time at Zorro ranch, his New Mexico property.

Epstein tried to recruit Virginia Giuffre for this very project. He “fantasized about improving the human race by fathering children who carried his superior genes,” she recounted in her memoir, published posthumously late last year.  “He’d talk about using his Zorro ranch as a literal breeding ground to propagate babies.” When Giuffre was 18 years old, she recalled, Epstein asked if she would carry his child and hand over all legal rights to it – “like a modern-day handmaid.”

In a haunting diary entry from another Epstein victim, written between the ages of 16 and 17 and shared with federal prosecutors, a girl describes being told she will be sent to Zorro ranch — possibly to participate in the very same project. “Go to New Mexico? What in the hell? This makes no sense. What about school?” she writes, describing how Epstein chose her for her hair color and eye color, and tried to convince her she would create “perfect offspring.”

The teenager chronicles her pregnancy, pasting a sonogram into the scrapbook, before giving a traumatic account of giving birth with Ghislaine Maxwell beside her. “Ghislaine said to push all the pain away. I don't understand. Blood and water all over the bed.” As the baby was born, she writes, Maxwell covered her eyes. “I saw between her fingers this tiny head and body in the doctors hands.”

The girl describes hearing the baby’s “tiny cries” before “they took her.”

“I’m nothing but your property and incubator,” the teenager writes of Epstein. The diary is a terrifying piece of evidence that appears to link to Epstein’s longstanding fixation with creating genetically bespoke humans. The diary author’s lawyers, Wigdor LLP, declined to comment.   

Epstein’s fever-dreams of creating an army of children carrying specific genes reflect a broader trend of “pronatalism” — a movement historically tied to eugenics — that’s thriving in Silicon Valley.

 Millions of dollars of funding are currently being poured into projects creating “superbabies,” while billionaire tech oligarchs including Elon Musk — whose name appears more than 1000 times in the files — reportedly want to use surrogates “to reach legion-level before the apocalypse.” Musk did not respond to requests for comment.

In the files, women appear either as victims, as objects, or as vessels for genetic engineering experiments. They are an inconvenient reality, people to be controlled and re-booted. Epstein wrote a 2013 email implying that women “are like shrimp. You throw away the head and keep the body.” 

“The obsession with "artificial" life appears tied to a masculine desire to try control the production of life – ultimately ridding themselves of their dependency on women," said Gabriella Razzano, Co-Founder of OpenUp, a social impact tech lab based in Cape Town, who is also a senior advisor at the African AI Observatory. “I think there is important work to be done on tying the narratives that are very revealing in the Epstein files to understand how, and why, technology is being developed as it is.” 

The trading of ideas about intelligence — both artificial and human — takes a particularly sinister turn in a 2016 exchange between Epstein and the cognitive scientist and AI researcher Joscha Bach, whose research Epstein funded to the tune of $300,000.

Bach writes to Epstein about a study claiming that “black children outperform white children in motor development, even in very poor and socially disadvantaged households, but they lag behind (and never catch up) in cognitive development even after controlling for family income.”

Epstein responds with racist ideas about his notion of how to “make blacks smarter”, adding — “maybe climate change is a good way of dealing with overpopulation. The Earth’s forest fire. Potentially a good thing for the species,” before contemplating a world with “too many people,” where “many mass executions of the elderly and infirm make sense.” 

Epstein then imagines creating a future “Übermensch” — a superior human with cherry-picked attributes. “What I like is the idea that ubermensch could be the melding of humans, put together in one brain,” Epstein writes. This bespoke human, he suggests, would include traits from marginalized groups, who he appears to believe have a stronger awareness of how to navigate power structures because of their historical exclusion. “An increased motor system, an increased awareness, an increased status calculator (Blacks, jews, women). Ubermensch could be the combination of the best of humans, not the best of a specific race or gender. Fun idea.” 

Bach told Coda in a statement: “I was summarizing a scientific study in a private email. Studies like this get often abused in ideological discourse to justify discrimination, which I strongly oppose and condemn.”

“I am firmly opposed to any form of racial discrimination, and I reject the use of group-level statistical claims to make judgments about individuals or to justify unequal treatment.” 

He continued: “It goes without saying that if global warming were to lead to a reduction in the human population, it would be accompanied by immeasurable suffering. Our civilization would break down, leading to a return to dark ages, in which the elderly and infirm were often killed, because people could not support them, and often did not care about supporting them. Every reasonable person understands that this is horrible and not desirable in any way.”

Epstein “was often callous about human suffering in a way that I found disturbing but worth understanding, as a window into the perspectives of the rich and powerful,” Bach added. 

Alongside Epstein’s conversations about mass executions for the old and and the sick, he was also interested in Silicon Valley’s dream concept of living forever — he had numerous email conversations with the longevity guru Peter Attia about prolonging his own lifespan, and funded a Harvard project geared towards “the end of aging.” In an email to Attia, Epstein mused: “I’m not sure why women live past reproductive age at all.” Attia, who published a statement about his relationship to Epstein, did not respond to requests for comment. 

This interest in “longevity” — living for as long as possible, even living forever, is popular among the elite precisely because they find themselves in an elite class, says David Robert Grimes, a scientist and disinformation expert who has written about longevity and race science in Silicon Valley. “They're both sides of the same coin — the Silicon Valley eugenics, and also the longevity stuff. They promote an idea that ‘we are exclusive and we are special',” he said. "It helps them to justify deep social inequality."

The tech elite did not inherit this ideology by accident. Stanford University, the intellectual heart of Silicon Valley, was once a major hub for the American eugenics movement, which later helped to inspire Nazi race laws. Stanford’s founding president, David Starr Jordan, was a prominent eugenicist, campaigning for forced sterilization of people with undesirable genetic traits. The university removed his name from its buildings in 2020 — but in Palo Alto, his beliefs did not disappear with the nameplate.

"Instead of eugenics we just call it longevity or biohacking," Christopher Wylie, the Cambridge Analytica whistleblower who has spent years investigating Silicon Valley's belief systems, said on a panel with me at a journalism conference last year. "It's the same."

The ideology Epstein bankrolled in private is being built in public. It’s a vision of the future in which a select few get to upgrade and extend their lives, while tightening their grip on the systems that determine which humans are worth investing in — and which are not.

It sounds like a dark sci-fi fantasy, except, as the files show, that fantasy is being funded and pushed into reality. Most of us will never be in the rooms where these ideas are discussed. All of us will live with the results.

The post “All my fundees have blue eyes.” Epstein and the tech world’s dark ideology appeared first on Coda Story.

My name is Darina,” says an elfin teen, ponytail pulled through the back of her cap, and “next year I’ll be earning 150,000 rubles (nearly $2,000) a month.” Darina works at what she calls “the world’s largest drone factory,” helping to assemble versions of the Iranian Shahed drone. “My parents are proud of me. Wanna do the same?” She asks as she advertises a polytechnic in Tatarstan. The Russian government, in the face of war and looming demographic disaster, has been relaxing child labor laws since 2022, making it easier to put 14-year-olds to work. Now, legislators are open about the need to reform “outdated” restrictions on employing minors in industries that were “considered dangerous 20 years ago.” Drone production is not the only part of the war effort to which teenagers are being recruited. This month in a “content camp” in Moscow, soldiers and state media propagandists trained 120-plus teens on how to make videos, use AI, and grow their audiences as aspiring influencers. Vladislav Golovin, a former soldier and a leader of Russia’s Young Army Cadets National Movement, said the program had “created a huge team of kids who understand how to broadcast government values.” 

But many young people, subject to year-round conscription, subject to internet shut downs and subject to surveillance, have little desire to spread propaganda. Instead, according to Google Trends data, growing numbers of Russians are seeking information on how to emigrate. A new exodus would accelerate Russia’s deep demographic crisis. Already, up to a million people are thought to have left Russia since the full scale invasion of Ukraine in 2022. According to one recent count, nearly 210,000 Russian soldiers have been killed in the war with Ukraine, with other estimates suggesting over 1.2 million casualties, including 325,000 deaths. And Russian fertility rates are the lowest they have been for 200 years. Anton Kotyakov, the labor minister, has told Vladimir Putin that the country faces a labor shortage of 11 million people by 2030.

So concerning is this crisis that Rosstat, the national statistics agency, has stopped publishing monthly demographic data. State officials and local governors have been told to compete to come up with the most innovative solutions to a seemingly intractable problem. The pressure on Russian officials and the Kremlin is leading to desperate measures, including guidance from the Russian health ministry that women who say they do not want to have children should be referred to a psychologist. Nothing the Russian state has tried has worked, from financial incentives (extended even to schoolgirls under 18) to banning advertising that supposedly promotes “child-free” lifestyles and so-called “LGBTQ propaganda.”   

Alongside “anti-woke” policies disguised as family values, is rising xenophobia and anti-immigrant rhetoric that has led to a marked decline in the number of foreigners living in Russia. The Kremlin’s anti-migrant policies include a new system to monitor migrant workers through biometric registration, location tracking, and intensified police oversight. The Russian parliament is currently debating enhancing the number of offences that can be punished by deportation or substantially increased fines. Much of it is targeted at Russia’s Central Asian migrants who make up an overwhelming majority of immigrant labor. Some Central Asian governments, notably Kyrgyzstan and Tajikistan, have now urged their citizens to think twice about going to Russia for work. 

Russia has been publicizing political stunts such as its “shared values visa” in which applicants from 46, largely developed, nations are given temporary residence permits if they profess to support “traditional Russian values.” The visa, the Kremlin has said, is “Russia’s response to what it perceives as the harmful effects of Western neoliberal policies.” But only a tiny fraction of the immigrants Russia needs will be Westerners who apply for such a visa; instead, Russia has been diversifying its pool of migrant workers by looking further east. Around 72,000 work permits were issued to Indian nationals in 2025, up from just 5,000 in 2021. Russian officials have signaled they are ready to accept “unlimited” numbers of workers from South Asian countries like India, Sri Lanka, and Myanmar.

While the Kremlin is looking to South Asia and Africa to address its immediate need for workers (and soldiers), the ambition in the longer term is to boost Russian birthr rates, despite the signal failure of ongoing attempts. 

In the U.S., there have been several moves borrowed from the Kremlin’s playbook, including the restriction of abortion, the attempt to deny women birth control, and even alarm at the fall in teen pregnancies. But data released this month showed that women in the U.S. gave birth to 710,000 fewer babies in 2025 than they did in 2007, a reflection of two decades of steadily dropping birth rates. Russian demographer Salavat Abylkalikov, at the Leibniz Institute for East and Southeast European Studies in Germany, says “if the birth rate has fallen below the level of simple reproduction, it is almost impossible to raise it back.” Especially when financial incentives cover just a fraction of childcare costs. 

In any case, Abylkalikov says, “in Russia, death is much more profitable than birth: in Nizhny Novgorod Oblast, the government provides around 1,000,000 rubles (about $12,000) for each child, but if one person goes to war and dies, the family receives up to 12 million rubles in total. That's more than $120,000. This is the economy of death.” The evidence, from countries like Russia, Hungary and the U.S., is that appeals to tradition, to religion and to female “responsibility” do not work, when support for families is limited. And while migration is an obvious fix to demographic questions everywhere, it’s politically toxic.

Russia knows it is hurtling towards demographic doom but can do little to halt the momentum. Its policies are riddled with inconsistencies — a strong line in anti-migration rhetoric and bullying, while being forced to import workers and soldiers from Asia and Africa; a patriarchal view of women’s roles, mostly confined to the domestic, while increasingly reliant on women to take the jobs of the men who are fighting and dying in Putin's war; and encouraging more women to give birth, while employing children to build drones. With family values like these, no wonder young Russians are hesitant to procreate.

The post Teens making drones: Russia’s demographic collapse appeared first on Coda Story.

Someone recently asked me what mark out of 10 I’d give for the efforts of governments to tackle financial crime. It got me thinking about that one bright spot of recent times — the West’s response to Russia’s full-scale invasion of Ukraine four years ago — and how it is now looking. Back in 2022, a lot of us were pleasantly surprised by the speed and ambition with which Western governments sanctioned the Russian government, state-owned companies and wealthy individuals. While Western pressure did not prevent the war, the asset freezes did impose a real cost on those conducting it. Four years on, however, those sanctions are beginning to look a bit shopsoiled. If they began at 7/10, they’re now scoring a lot lower.

There are reasons for this: Donald Trump does not appear particularly interested in Ukraine; the now former Hungarian prime minister Viktor Orbán has been snarling things up; and so on, as laid out in this analysis from Tom Keatinge. To make things worse, Trump’s latest adventure in Iran has pushed the oil prices sharply higher, earning more money for Russia while also giving Trump cover to lift sanctions, a temporary measure he has recently extended.

Keatinge argues that European countries need to be far more focussed on going after Russia’s payment mechanisms, particularly digital. “The extent to which crypto activity supports Russia’s war effort is clear,” he writes, “yet repeated initiatives to elevate the importance of opening a concerted line of effort on this issue are ignored. This must change.”

I agree, though it won’t be easy, considering the diffuse crypto ecosystem, and the increasing sophistication of Russian involvement in it. As long as Telegram is willing to host markets, the markets will continue to function to some extent whatever Western countries do (see the story of Xinbi, a Chinese-language hub for illicit crypto.) However, it does look like someone somewhere has lost patience with the ease with which Russia is funding itself.

“The sanctioned Russia-linked cryptoasset exchange Grinex announced an immediate suspension of its operations, citing a ‘large-scale cyberattack,’” reports Elliptic. According to the statement, which Kyrgyzstan-registered Grinex posted on Telegram, it lost around $13 million worth of USDT in the hack, blaming the theft on Western intelligence agencies.

“Today the attempts to destabilise our fatherland’s financial sector hit a new level, with the direct theft of the assets of Russian citizens and companies with the involvement of complex cyberattacks,” the statement said. Grinex is the successor to Garantex, which was shut down just over a year ago after years of effort by Western law enforcement. I would be surprised if Western countries had decided to take direct action against Grinex, as the exchange claims they did. Westerners tend to be a bit too legalistic for this kind of smash-and-grab, and I would expect any operation to more closely resemble what worked a year ago, conducted with Tether’s cooperation.

Instead, I suspect this attack is the work of hacktivists, perhaps working for or with the Ukrainians. Whatever the answer, it is embarrassing for the Russians, shows their crypto-security is not impregnable, and has made a noticeable dent in trading volumes of the A7A5 ruble-denominated stablecoin, which has become a key sanctions evasion tool. Three birds with one stone.

The important point is that sanctions were never supposed to be permanent: they are a foreign policy tool, not a law enforcement one. Hundreds of billions of Russian-owned dollars are languishing in various frozen bank accounts, and Western countries need to start thinking about what to do with them. They can confiscate them, investigate them or — if they’re feeling brave — use their potential return as leverage to persuade wealthy Russians to break with the Kremlin. What they shouldn’t do is leave them as they are to gather dust.

Hopefully, now that Orbán is out of the way, European countries will be able to take firmer collective action but they also need to be imaginative, and to start behaving as if they actually want Ukraine to win, rather than just not lose.

A defeat for transparency 

Of course, the United States will have a lot to say about that too, and what it ends up saying about how to tackle the Russian crypto operations will depend on what happens in the midterm elections this year. So, it strikes me as a big deal that crypto firms are once more pouring tens of millions of dollars into campaign vehicles in their quest for, what they euphemistically refer to as, “regulatory clarity.” Among them, of course, is Tether.

If you’re wondering quite how it’s possible to spend that much money on elections, I draw your attention once more to the great Integrity Index, with its records for who’s been spending what. It boggles my mind that, for example, the three Democratic rivals to the Republicans’ Susan Collins for the Maine Senate seat have raised more than $17 million just for the primary. Collins herself has raised over $10.5 million. There really shouldn’t be that much money in politics.

Besides, when it comes to value for money, investing in court cases beats investing in politics every day of the week. I don’t know how much the (ironically) anonymous plaintiffs in the 2022 case against corporate transparency in Luxembourg paid their lawyers, but its effects just seem to keep compounding to the benefit of those who want to hide their wealth from society. 

The European Union’s retreat from revealing the ownership of shell companies has given cover for Britain’s tax havens as they resisted efforts from London to force them to open up their own corporate registries. It looks like those efforts may have finally failed. “We are committed to full transparency, but I don’t think there will be any turning back,” said the British Virgin Islands’ Junior Minister for Financial Services Lorna Smith in comments confirming that the islands are in fact very much not committed to full transparency.

A version of this story was published in this week’s Oligarchy newsletter. Sign up here.

The post Why Europe must disable Russia’s crypto ecosystem appeared first on Coda Story.

It’s good to celebrate the wins, and I’m delighted the British government has decided to cap political donations from voters overseas at 100,000 pounds a year. It has long been grotesque that a wealthy citizen could move to a tax haven, stop paying towards the upkeep of his home country, and use the money he’d saved in taxes to buy influence in the politics of the country he’s left behind. I’m delighted that this has (largely) stopped.

This policy came from the independent Rycroft Review into foreign interference in UK politics, which other countries will be looking at closely as well. For believers in liberal democracy, which is on the retreat everywhere, this issue has only been getting more urgent thanks to Russian interference in Moldova, Romania and Hungary; as well as Chinese spying scandals; and the new U.S. strategy of supporting far right parties in Europe.

There’s a good summary of the Rycroft report here, but perhaps the most contentious recommendation is for a moratorium on any cryptocurrency donations to politicians until a time when the government feels regulations around digital assets are robust enough for them to be safe. Nigel Farage of the Reform Party popped up to say this was a retrograde step against innovation, but the real question is whether a moratorium is strong enough.

So much of the threat to democracy arises from the fact that wealthy people have been able to park their money wherever they like, to exploit multiple countries’ loopholes to evade taxes, scrutiny and investigations, and then use their money to project influence anywhere they wish. This is what doomed Russia’s chance of gaining democracy, and it’s now threatening many other places too. 

I would love to see the governments of the remaining few liberal democracies be far more proactive in advocating the benefits of their systems, rather than staying in the perpetual defensive crouch that they seem to be in at the moment. 

Money is global, but politics is local, so rich people can buy influence in ways that are not available to others, not just because they’re richer but because they can afford a whole world full of tricks to make their money go further. The answer to this problem is either to make politics more global, so it can stand up to the money, or to make money more local, so it is subject to countries’ political processes.

This is what the Rycroft review is doing with its cap on overseas donations, and it’s also why I think a complete ban on crypto donations would be better than just a moratorium. 

The health of democracy is far too important to be subject to the whims of the unaccountable, nomadic class of the mega-rich, and nothing exemplifies their influence so much as cryptocurrencies, which are privatised money. A ban would be harder for a future government to overturn than a moratorium. And it would also send a signal that liberal democracy has its own currency, which is that it abides by rules set democratically and doesn’t need or want to outsource any aspect of that to the billionaires who dominate crypto.

A moratorium on crypto suggests a time when crypto may become acceptable, and thus a time when we won’t want money to have democratic oversight, and will be comfortable with obeying the whims of its owners. Financial innovation can be good, but we don’t need to innovate in how we pay politicians, that is too risky a game to play. So play with crypto by all means, but if you want to play with democracy, you need to abide by its rules. And democracies need to be more confident about asserting that principle. 

Democracies also need to enforce their own laws properly, which means — as Rycroft suggests — hiring and training specialist police officers who can investigate attempts to slip dirty money into politics.

Crypto’s digital dodge

On that note, I’m glad it wasn’t me that had to write the new U.S. national money laundering risk assessment. Glad it wasn’t me who had to balance the obvious reality that cryptocurrencies are the most potent new tool for financial criminals since the invention of the shell company with the political fact that the White House really likes cryptocurrencies. “Uneven and often inadequate regulation and supervision across jurisdictions allows digital asset service providers and illicit actors to engage in regulatory arbitrage,” notes the report. But without pointing out that the United States itself is a major source of that particular problem.

Case in point, Tether, the El Salvador-headquartered company behind the dollar-pegged USDT stablecoin, has hired the Big Four accountancy firm KPMG to audit its books and confirm everything is as it should be. This is, the FT notes, all part of a plan to expand into the United States and to raise money there, though you would imagine that a first audit of a company with a murky regulatory history and claiming such a vast haul of assets could take a while. 

In other crypto news: the UK has sanctioned Xinbi, an illicit online marketplace in Southeast Asia, and #8 Park, a compound where criminals can keep up to 20,000 trafficked people to engage in global scam operations. Xinbi moved something like $20 billion between 2021 and 2025, much of it stolen from vulnerable victims, to the benefit of Chinese gangsters. The transactions tend to be arranged on the messaging app Telegram. Vladimir Putin has been restricting access to Telegram for a while now, to build a government-issued surveillance app. I don’t agree with Putin’s reasons for shutting Telegram down, but I do think that the world would be better off without it. And without Tether.

It’s hard to imagine that Tether will care about British sanctions nor that they will make much of a dent in these activities, but I think we need to keep an eye on how the situation evolves when other countries take an interest too. Xinbi has already launched its own payment app, and has expanded to use other messaging apps, including Telegram, suggesting it is working to make itself immune from regulatory actions.

This replicates what we saw with Russian crypto operators moving to the rouble-denominated A7A5 in response to the freezing of notorious crypto exchange Garantex’s assets last year. USDT is still central to how value moves globally, but the new tokens create a secure bridge in and out of it, which cannot be touched by Western regulators or governments.

A version of this story was published in this week’s Oligarchy newsletter. Sign up here.

The post How dodgy digital finance destroys democracy appeared first on Coda Story.

In the flatlands of Italy’s Po Valley, the decommissioned Caorso nuclear power plant can be seen for miles, the reactor looming into the sky. When Alessandro Maffini, now an assistant professor at the Polytechnic University of Milan, was growing up in the 1990s, the plant's distant silhouette captured his imagination. “The physical presence of that thing was so significant to me as a child. It was a very visible, tangible, concrete presence,” Maffini remembers. “It was like a white Duomo, there on the horizon, always in the background.” For many others, though, it was a specter of disaster, a ghost nuclear plant — shuttered, alongside all of Italy’s nuclear power stations, in the wake of the Chernobyl accident.

 “If that plant explodes, we’re all dead,” Maffini’s mother used to intone, looking out at the defunct Caorso station, once the largest in Italy. As Maffini rode his bike six miles across the countryside to get a closer look at the plant from a nearby overpass, his mother’s doom-laden words rang in his ears. Her warning scared him. It also made him want to learn more. When he left home to go to university, Maffini decided to work in nuclear physics. “Radioactivity is a strange thing,” he says. “You can’t see it, you can't hear it, you can't smell it. It leaves a lot of room for imagination, for speculation, for fear.”

Four decades on from Chernobyl, and Italy has some of the highest energy bills in Europe. The country is scrambling to disentangle itself from its dependence on Russian gas in the wake of Russia’s invasion of Ukraine, and build out its energy sovereignty. War in Iran, and a growing European consensus that turning away from nuclear power was, in the words of European Commission president Ursula von der Leyen, a “strategic mistake,” has given more impetus to the Italian government’s argument that the country needs to move past its qualms.

Last year, the Italian cabinet approved a new draft law reintroducing the prospect of returning to nuclear power. “The government has approved another important measure to ensure clean, safe, low-cost energy that can guarantee energy security and strategic independence,” the Prime Minister Giorgia Meloni announced. 

Italy is already surrounded on all sides by nuclear power plants: Slovenia’s Krsko plant is 90 miles away from the border, and there are four French nuclear power plants within 110 miles. Italy is the world’s second-largest importer of electricity, with nuclear power, largely imported from France, making up 5% of its energy basket. Italy also plays host to more U.S. nuclear warheads than any other European country. An estimated 35 thermonuclear gravity bombs are stored at two NATO airbases in northern Italy, according to the Nuclear Threat Initiative. 

Now, as data centers spring up in Italy’s industrial north, the country’s energy needs are expected to increase exponentially and the government is turning, albeit cautiously, to a long-held Italian taboo. Since the spring of 1986, when the most serious accident in nuclear history unfolded in Unit 4 of the Chernobyl Nuclear Power Plant in northern Ukraine, the Italian population has lived in fear of nuclear energy. It voted to shutter its once-burgeoning nuclear industry in 1987, and in 2011, after the Fukushima nuclear accident, when 94% of voters rejected government plans to revive the industry. 

It is a fear that has transformed Italy’s energy fortunes, making it reliant on imports and vulnerable to volatility and price shocks. 

“The international crises of recent years have clearly demonstrated the risk of excessive dependence on imported fossil fuels or vulnerable supply chains,” said Fiorella Corrado, communications chief at Italy’s environment and energy ministry. “The government approaches this issue with great respect for the country's history and the democratic choices expressed by citizens. The 1987 and 2011 referendums profoundly impacted the national energy strategy at very different historical moments. Precisely for this reason, the point is not to ignore those choices, but to acknowledge that today's technological, climatic, industrial, and geopolitical context has radically changed.”

For Meloni’s government, the argument is not so much whether Italy needs to revive its nuclear industry, it’s whether the country is ready to shake its demons, to shake the cultural memory of what happened at Chernobyl forty years ago, a thousand miles away from Rome. 

In the early hours of April 28, 1986, in the control room of the Latina nuclear power plant south of Rome, a young technician called Ruggero Dell’Aquila was working the night shift. “Everything was perfectly quiet,” he recalled. As morning broke, teletype messages from Northern Europe began to rattle in. A clerk came down from the control room with reports from the Forsmark Nuclear Power Plant in Sweden. Their monitoring stations were registering radiation spikes far above background levels, and no one knew why. 

That evening, nuclear physicist Sergio Malossi, a director at the Latina plant responsible for monitoring radioactive risk, drove home. His mind was turning over what the clerks had been reporting. “He came in extremely agitated,” remembers his daughter, Roberta Malossi, who was 16 at the time. “We knew he was worried about something going wrong at the facility, but we didn’t understand.” Malossi says that her father’s first paranoid thought was that there had been a malfunction in his own plant, that radiation was leaching into the air, and that it was somehow his fault. 

At 9 p.m. Moscow time — aperitivo hour in Latina — the Soviet Union announced there had been an accident at the Chernobyl nuclear plant. In the ensuing days, Italian news was full of dire warnings. 

“Television was showing these clouds that would soon reach Italy. Everyone was terrified. The only information we got was from state TV, and the news was shocking,” said Monica Tommasi, President of Friends of the Earth Italy, who was a child at the time. Radiation, the news said, would rain down on the population. “The fear from the sky,” ran one La Repubblica headline. “The cloud above us, the doubt within us,” ran another.

On the night of April 30, 1986, Italy’s nuclear monitoring stations began recording increases in radioactivity. The cloud moved over the Valley of the Po, and while the government called for calm, the country began to descend into panic. In the minds of the Italian people, the worst had happened, explained Luca Romano, a writer and activist campaigning for the return of nuclear power in Italy. “Nuclear annihilation, death by radiation, the radioactive cloud and the nuclear holocaust, had arrived,” he said. Nuclear armageddon was a fear that had gripped the West for decades. This was not a nuclear war, but in the Italian collective consciousness, that didn’t make a difference. 

The reality was, says Barbara Curli, Professor of Contemporary History at the University of Turin, that “Italy was only marginally affected by the cloud.”

The cloud in northern Italy meant radioactivity levels peaked briefly, but ten days later they had fallen dramatically back down. Because this spike was short-lived, the total radiation exposure remained low. A United Nations committee report recorded that northern Italy received an additional radiation dose of about 380 microsieverts in the year following Chernobyl — less than a fifth of the normal background radiation humans absorb in a year; equivalent to taking about six transatlantic flights. It was much smaller than the doses received by neighboring countries like Bulgaria, Austria and Greece, and in the south of Italy the dose was lower still. 

Down by the Latina power plant, though, the community was shaken by events in Chernobyl, and rumors and misinformation began to spread about the fallout. The friends and family of the technician, Ruggero Dell’Aquila, started asking him if a Chernobyl-style disaster could happen at Latina, too. “Everyone was afraid, asking — ‘can it explode, can it explode?’” he recalled. 

The reality was, a Chernobyl-style explosion was not possible at Latina, because its reactor lacked the unstable characteristics of the Soviet design. But this was not such an easy concept to explain. 

“The problem was that a slew of journalists took over, telling lies,” Malossi said, recalling paranoid rumours about radioactivity causing mutations in nature. People started telling stories, Malossi said, about “frogs with three heads, animals and fish with four tails. Strange things. When in fact absolutely nothing like that was happening.”

The government advised people to avoid fresh vegetables and dairy products, particularly for children. Farmers destroyed crops and poured away milk. Sergio Malossi ignored the warnings, having measured radiation levels in the air himself. “My father and others from the plant brought the vegetables home and we ate them,” his daughter recalled.

It was these warnings — delivered amid a lack of clear information — that shifted public attitudes toward nuclear energy, said Renzo Colombo, 65, who was just beginning a career in nuclear engineering when the explosion happened. Now a member of Nucleare e Ragione, a nonprofit that promotes a rational approach to nuclear energy in Italy, he recalls how quickly fear took hold. “A real phobia was born, a panic about radioactivity,” he said. “And this panic marked the next 25 years.”

The months after the accident were a shadowy, uncertain period for Italians working in the nuclear industry. “I have to be honest, I felt a little guilty,” said Colombo. “As a nuclear engineer, I thought ‘what have we done?’ My colleagues and I always thought we were designing something useful for humanity. And at that moment we felt betrayed by our own profession.”

Outside Italy’s nuclear plants, crowds began to gather. A coalition of environmental groups and political parties started pushing for people to vote against nuclear power in an upcoming referendum.

This movement was not new. “Many years before Chernobyl, an environmentalist culture was born — and it didn’t just concern nuclear power, but risky industry in general,” explained Curli, the Turin historian. The anti-nuclear environmental movement, which spread across Europe in the 1970s, was particularly potent in Italy — a country rocked by violent political turmoil, organized crime, and corruption scandals. Public fears, explained Curli, were sharpened by the Seveso disaster, an accident at an industrial plant in the north of Italy in 1976 that exposed tens of thousands of people to a toxic cloud of chemicals. Nuclear power, she said, “was not perceived by public opinion as a credible policy because there's this underlying distrust in institutions.” 

In 1977, almost a decade before Chernobyl, a 10,000-strong crowd of protesters showed up at Montalto di Castro, to protest against a large new nuclear plant that was planned. A Time magazine correspondent described the activists as “an improbable mix of elegant members of the Italian nobility, radical students in American Indian garb, middle-class citizens and Christian Democratic and Communist politicians.”

In the wake of Chernobyl, Renzo Colombo was working at that very same plant, helping to build the thermohydraulic cycle. By then, the station was nearly complete. “It was a beautiful plant,” Colombo said. “I loved working there.”

In November 1987, 18 months after the Chernobyl accident, the Italian government held a referendum on nuclear energy. Nearly 80% of Italians voted in favor of measures that would end the country’s use of atomic energy.

One morning, following the referendum, the Montalto di Castro plant’s director called the workers to a meeting. Colombo remembers him saying: “‘Ragazzi, gather round, I need to talk to you. I’ve just been to the ministry, and Italy has decided that we are closing all nuclear activity and will focus on coal and gas instead.’” The room went silent. “I was young,” said Colombo. “But there were people there who were older and had devoted years of their life to the nuclear field. There was just this urge to cry.” 

The effect of the referendum was all-encompassing: construction was halted, and over the next three years Italy’s nuclear plants were shut down for good; its nuclear engineers scattered — many going to work abroad, or, like Colombo, re-training to work in other industries. 

It was hailed as a victory for Italian environmentalism, says Curli. But the result was that there was a push to “gasify” Italy. That is, she says, “to choose the gas route — less expensive, and less demanding than nuclear power. But this made Italy almost completely dependent on Russian gas, Libyan gas, Algerian gas.” The Montalto di Castro site was converted into a fossil-fuel powered plant, running on gas and fuel oil.

Decades on from that post-Chernobyl referendum — and a second referendum in the wake of the Fukushima nuclear accident in 2011 — Italy remains in the process of dismantling its nuclear power stations, even as it now contemplates a return to nuclear power.

Watching them work is Enrico Bastianini, director of operations at the Latina plant. As I walk with Bastianini through the plant, we come to the old control room. When it first opened in 1963, the Latina plant was the largest nuclear power station in Europe — a feat of Italian and British engineering (the reactor was of UK design) and a symbol of Italy’s post-war industrial growth. 

“We were emerging from the destruction of the war, and this was progress. And it was what allowed us to escape the economic hardships of war, and have low-cost energy,” Bastianini says.

Now, over 60 years on from when the plant opened, more than half of its existence has been spent being taken apart. Critics of nuclear power often focus on precisely this point: the long and complex process of dismantling nuclear plants, and the problem of managing radioactive waste, some of which takes millennia to decay. 

There are two phases to the process of taking apart the plant. “The first phase allows us to dismantle everything that’s nuclear except the reactor. That’s because the reactor contains a huge amount of graphite,” Bastianini explains. “When we have a national repository, it can be removed. But for now, it’s safest if it stays in the first phase.”

Bastianini leads me into a deposit room where radioactive material is being stored in steel containers, inside an earthquake-resistant facility. These containers are only for temporary storage.

There were attempts in the early 2000s to establish a national nuclear waste repository at a salt mine in Basilicata in southern Italy, but huge protests forced the government to abandon its plans. Today, SOGIN, the state-owned Italian company in charge of decommissioning nuclear sites, is still actively searching for a suitable location for a permanent repository and faces considerable opposition. 

Rumours and anxiety swirl around the Latina plant itself — just as they did in the 1980s, when Malossi heard stories of radioactive fish with four tails. Last April, an article by the Italian magazine L’Espresso published claims that the Latina plant could leach radioactive material into the soil. The plant vigorously denies these claims — a spokesperson for SOGIN said the company periodically checks the quality of vegetables, milk and fodder as well as air, soil and groundwater for radiation and that “as always, the results of the analyses confirm radiologically negligible environmental impacts.”

In the gloaming of a summer evening in Umbria, Monica Tommasi drives me through the twilight-darkened hills surrounding the medieval city of Orvieto. This land is rich in archeological and ecological heritage — filled with ancient tunnels, Etruscan caves, untapped archeological sites, wild places where wolves and boar roam. Tommasi is the President of Amici Della Terra — "Friends of the Earth" in Italian — an organization that was once the Italian chapter of the international Friends of the Earth network before breaking away in 2014. "We left, because we argued a lot," she said of the split, describing how the network "wanted to put turbines and panels everywhere, and we couldn't be in favour of that approach." 

The International Friends of the Earth association was born from the anti-nuclear movement in America, where the group successfully lobbied to shut down two reactors, and has since 1969 made anti-nuclear campaigning a core part of its identity.

But Tommasi remembers precisely when she first began to reconsider nuclear power. “I started thinking about it in 2011, when I began to see that the government was investing heavily in solar and wind power, which would invade and industrialize the natural landscape,” she recalled. Many of these green transition projects have been fraught with problems in Italy — wind farm companies accused of corruption and profiteering, of erecting wind farms in areas where there’s little wind, and laying waste to nature. 

For the first time, Tommasi began to think about ways to decarbonize “that don’t destroy the environment where people live and the landscape around them.”. She became intrigued by the nuclear option. “We needed to start reasoning and changing our minds,” she said. 

Tommasi now advocates for a national conversation about nuclear power. “This choice must be accompanied by a public debate,” she told me, “but it isn’t happening because everyone is still afraid.” 

“The future of Italy's energy sector must lie in nuclear,” she said, adding that if Italy was to continue pursuing solar and wind energy alone, “it means destroying all the natural areas that are still left.”

I asked the government to respond to allegations about how criminality, speculation and land-grabs in the renewable energy sector might be affecting Italians’ opinions on nuclear power. 

“We do not believe it is appropriate to frame the energy debate by ideologically pitting nuclear power against renewables, nor should we use any administrative or criminal issues in certain sectors to discredit a technology as a whole,” said Fiorella Corrado, communications chief at Italy’s environment and energy ministry. “Nuclear power is not an alternative to renewables, but their best ally,” she said. 

On a warm autumn day in Rome, several thousand people gathered for an annual “climate pride” march. They brandished homemade cardboard wind turbines that spun in the breeze. Vincenzo Migliucci, 83, was among them. He worked for more than three decades for ENEL, Italy’s energy corporation, and he’s been anti-nuclear for much of his life. After the Chernobyl accident, he protested outside the nuclear plant under construction in Montalto di Castro almost every day, picketing the workers as they went through the gates.

“The wrath of God happened,” he said, referring to Chernobyl. “And when a true estimate is made, we’ll one day see how many disasters Chernobyl caused.” 

Migliucci is against nuclear power plants of all types — arguing for solar panels instead — and is particularly concerned about what happens to the plants after they become obsolete and must, like the Latina plant, be slowly dismantled over decades. “The decommissioning costs a fortune; the nuclear waste repositories cost a fortune,” he said.

He began telling me some of the stories that surround Italy’s shuttered nuclear plants. “Near the Garigliano power plant,” he told me, “a child was born with only one eye.” His own eyes widened as he pressed a finger into the middle of my forehead. “Sheep and cattle,” he said, “were born with six legs, or entirely red in colour. It’s not a myth, it’s real.” 

Younger generations of Italians don’t have the same collective impressions around nuclear power, nor around Chernobyl or its aftermath, explained Luca Romano, a young pro-nuclear influencer with a quarter of a million followers on Instagram. Romano makes videos with his partner, Luiza Munteanu, about the advantages of nuclear power. The main problem he runs up against, he says, is that “we have a very low scientific literacy, the level of debate is abysmal.” And culturally, he adds, “Italy has always been a country that looks backwards rather than forwards.”

In May, the director general of the International Atomic Energy Agency visited Italy’s Lombardy region, and signed a Memorandum of Understanding with the governor to cooperate on applying nuclear science for development across the region. The choice of Lombardy was significant. It is home to Milan, and is at the heart of Italy’s digital infrastructure. Speckled with no fewer than 60 data centers, with more cropping up, Lombardy has opened itself up to Silicon Valley. Microsoft is investing billions in the area to boost its AI and cloud computing infrastructure. Amazon Web Services has committed to spending over $1 billion to expand its data center operations around Milan.

How northern Italy’s growing AI infrastructure will be powered, though, is still a problem to be solved — one that cuts to the heart of Italy’s energy dependence. Since Giorgia Meloni became prime minister in October 2022 — which coincided with the launch of ChatGPT a month later — the Italian government has been broaching the topic of nuclear power as essential to Italy's energy future. “World population and economic growth will significantly increase energy demand,” Meloni said at a sustainability summit in Abu Dhabi. “Not least due to the growing requirements arising from the development of generative artificial intelligence.” 

Artificial intelligence is a “highly relevant topic,” said Corrado, the communications chief at Italy’s environment and energy ministry. “As more things run on electricity, the economy goes digital, and data centers and AI expand, demand for steady, low-emissions power will rise. Nuclear energy can help as a reliable, controllable source that works alongside renewables.” 

In August, it emerged that the government had set aside €7.5 million purely for pro-nuclear communication and information campaigns directed at regions where new plants may be built. One focus of the Meloni administration is on the prospect of building small modular reactors, sometimes called “mini nukes.” They are compact fission plants, a fraction of the size of the traditional, cathedral-like nuclear power stations. They have a smaller core, and proponents argue their safety features mean there’s minimal chance of an epic, Chernobyl-scale nuclear disaster, something the government is keen to get across to voters. 

Currently, only China and Russia have these small reactors up and running, but mini nuclear plants have attracted significant attention in Silicon Valley. OpenAI’s Sam Altman was chairman of Oklo, a nuclear startup focused on SMRs, while U.S. nuclear startup Kairos has signed an agreement with Google to develop these reactors to power its data centers. This month, the European Commission unveiled a strategy for rolling out small modular reactors and bringing them “online” by the 2030s.

Soon, Italy may take the first steps towards the reconstruction of a nuclear industry that has been abandoned for decades. “I believe it won't be easy to relaunch nuclear energy,” said Barbara Curli, the Turin historian. “Knowing a little about the history of nuclear power in Italy and its political dimension, I'd be quite skeptical about the possibility of relaunching nuclear power here in Italy — but let’s see.” 

A little under 1,500 miles away, in the Chernobyl exclusion zone, among wild boar, birds, and deer, radiation levels in some areas have dipped below around 0.3 microsieverts per hour, lower than background radiation levels in many European cities. Not least the eternal city of Rome.

The post How Italy’s Chernobyl ghosts might stop a new atomic age appeared first on Coda Story.

“Understanding the system depends in part on knowing who participates in it. So firstly, we have to identify a hierarchical network involved in a particular information operation. This may include senior political leaders, media organizations, and social media influencers… We have to prove that there were some orders or instructions that were given by more senior groups to less senior groups.”

Nadiia Vaskivska,

Legal Advisor at Global Rights Compliance

They distribute the talking points — called “temniki” — directly to editors-in-chief of Russia’s biggest state media outlets: TASS, Channel One, Rossiya, RIA Novosti.

We asked Alexey Kovalev — a Russian journalist in exile who once worked inside one of those outlets — to describe how it functions.

“The presidential administration intervenes with specific instructions. It has a kill switch that can immediately blacklist any coverage in Kremlin-controlled media of any unwanted, undesirable topics, like protests, for example. The presidential administration is like the central nervous system of the beast.” 

Alexey Kovalev

The Kremlin ‘brain’ doesn't only issue orders. It also enforces silence. Russia's official censorship body, Roskomnadzor, can red-flag content and suspend licences. The effect, Kovalev says, is a system that rarely needs to give explicit instructions because everyone already knows the rules.

"You should instinctively know what things to cover, what things not to cover, and from which angle. Do what you think is expected of you." 

Alexey Kovalev

These are the people whose job it is to take Kremlin narratives and project them onto the world stage. As well as Sergei Shoigu, Minister of Defense, and Foreign Minister Sergey Lavrov, several names crop up regularly in the information alibis we’ve looked at:

Igor Konashenkov, spokesman for the Russian Ministry of Defense — the military's public voice, whose briefings provide official cover for Russian military actions.

Maria Zakharova, Russian Foreign Ministry spokesperson, who amplifies narratives across international media from behind her podium.

Vasily Nebenzia, Russia's Ambassador to the United Nations, who takes the alibi to the Security Council, where it can be delivered with diplomatic immunity and broadcast live to the world.

“The Russian mission to the UN plays a very central role in this ecosystem. It picks up and amplifies disinformation that has been seeded in more esoteric parts of the internet and gives it a global platform.”

Peter Pomerantsev

The words of these officials have the full weight of the state behind them. And that helps achieve one of the key goals of the information alibi.

“The Russian use of info alibis has to be seen in their general kind of strategy of ultimately avoiding responsibility and giving their allies enough “implausible” deniability about what the Russians are up to… It gives allies at the UN, for example, a way to go ‘well, we just don't know what happened, maybe this was an accident, maybe the Ukrainians bombed themselves.’”

Peter Pomerantsev

The Reckoning Project Co-Founder

This includes organizations that look independent, but which are actually funded by and have direct links to the Russian state.

ANO Dialog and the Social Design Agency — both now sanctioned by the U.S., UK and EU — are the engine room of this layer.

ANO Dialog — reportedly directly linked to Sergey Kiriyenko and the Presidential administration — distributes billions of rubles in grants to social media creators. Its network of social media channels started spreading fakes about Ukraine from the start of the invasion. One of the examples — a pseudo fact-checking Telegram channel War on Fakes, with over 400k subscribers.

“It's a way to ensure that every content creator is hooked on the government money… The ‘don't bite the hand that feeds you’ mentality.”

Alexey Kovalev

The Social Design Agency (SDA) operates differently — it focuses on creating and spreading Russian disinformation abroad.

“The Social Design Agency is industrialized disinformation, and it can be terrifyingly effective because explicitly pro-Kremlin narratives created by the SDA were shared by people like Elon Musk and Marjorie Taylor Greene. The stuff that they're creating is really bleeding into mainstream Western discourse.”

Alexey Kovalev

Let’s take the Mariupol hospital attack as an example. 

It appears that bloggers and Telegram channels were the first to point to maternity wards being used as firing positions.

A week before the attack, DPR People's Militia channels were claiming that maternity wards were being used as firing positions. Pro-war Telegram channels amplified it within hours. 

It was after that, that official spokespeople reinforced the message:

• Igor Konashenkov, Defense Ministry spokesman, accused the Ukrainian army of turning hospitals into firing positions. 

• Vasily Nebenzia, UN Ambassador told the Security Council that Ukrainian forces had placed a firing position in a Mariupol maternity ward before the attack, and reminded them of his warning two days after the attack.

• Maria Zakharova, Foreign Ministry spokesperson — remember the briefing she gave just four hours before the bombs fell on the maternity ward?

And then, almost before the dust had settled, the bloggers and Telegram channels echoed the narrative the spokespeople had told the world.

So, as far as who’s leading who, Vasily Gatov, former Russian media strategist and disinformation researcher, thinks it’s a two-way street. Some indications come from the Kremlin, other initiatives are launched from the bottom.

“My opinion is that most of these information operations are created in small groups, mostly people with very limited knowledge of psychology and especially media effects. Some are military, maybe military intelligence. Some are journalists, war journalists. And most of them are people who make their living from telling the Kremlin they're doing a great job.”

Vasily Gatov

Alexey Kovalev agrees that, in his experience as a journalist, there are rarely detailed instructions flowing from the top. Each individual is expected to use their own judgment, as long as it’s favorable to the Kremlin.

“It's a way of controlling by omission that you should not say under any circumstances, and that is anything that is not on the Russian defense ministry's website. Steer clear from any Ukrainian perspective. It doesn't matter. Ukrainians don't have agency. Flood the zone with shit, with a million conflicting narratives. It doesn't really matter that they don't make any sense or it falls apart at the slightest scrutiny. Seeds of doubt have been sowed.”

Alexey Kovalev

“We can tell when an info alibi is peaking. We can look at the online patterns and see how it's spiked. We can see so many telltale signs that this is not organic activity, but part of a planned operation. The technology is a double-edged sword and I think this war is going to be a game changer globally for holding propagandists accountable.”

Peter Pomerantsev

The Reckoning Project Co-Founder

The post The Alibi Machine: The Suspects appeared first on Coda Story.