Good morning. It's Tuesday, Feb. 3, and we're covering a massive mineral stockpile to counter China, a new fee to toss coins in Rome's iconic fountain, and much more. First time reading? Join over 4.6 million insatiably curious readers. Sign up here.
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President Donald Trump is launching a first-of-its-kind $12B strategic stockpile of critical minerals to reduce US reliance on Chinese supplies and protect domestic manufacturers from supply chain disruptions.
The initiative—dubbed "Project Vault" and modeled after US oil reserves—would combine roughly $10B in financing from the US Export-Import Bank (see 101) with about $1.7B in private capital to buy and store materials. The record-setting loan from the US Export-Import Bank is more than double the bank's previous largest deal. The stockpile will include rare earths, gallium, and cobalt, which are used in products such as iPhones, batteries, jet engines, and electric vehicles. The US already operates a national stockpile for defense needs, but not for civilian industries.
China is the world's largest producer of rare earth minerals, accounting for about 70% of global extraction and 90% of processing. Explore our deep dive on critical minerals here. |
Norwegian Royals Scrutinized |
The son of Norway’s crown princess heads to trial today in Oslo on 38 charges, including alleged rape of four women. Though Marius Borg Høiby does not hold royal titles, his case has put pressure on Norway’s royal family.
Høiby is the son of Crown Princess Mette-Marit from a previous relationship and the stepson of the heir to the throne, Crown Prince Haakon (see family tree). The rape allegations span from 2018 to 2024. Høiby also stands accused of violence and threats against two women, violating a restraining order, and abuse. Additional charges include transporting 7.7 pounds of marijuana and assorted traffic violations. The trial is expected to last through March; Høiby faces up to 10 years in prison.
The proceeding comes after Høiby’s arrest Sunday on new charges, including alleged assault and knife threats, as well as revelations that Mette-Marit corresponded with the late sex offender Jeffrey Epstein between 2011 and 2014. Mette-Marit said she regrets the interactions. |
Tourists visiting Rome’s Trevi Fountain must now pay a roughly $2.35 fee, implemented yesterday, to manage crowds and offset maintenance costs. A handful of city-owned museums also introduced a nearly $6 tourist ticket.
Officials estimate the fees could generate an extra $7.6M annually. Some revenue would expand free museum access for Roman residents, many of whom have expressed frustration over rising living costs and declining quality of life amid surging tourism. Last year, the “Eternal City” attracted a record 22.9 million visitors—up from 19.5 million in 2019—and the fountain drew roughly 10 million people. Rome experimented with lines and designated pathways to limit access to the 18th-century fountain's basin before imposing the new fee.
Over $1M is fished from the Trevi Fountain annually as visitors toss coins over their left shoulder with their right hand—a ritual popularized by the Oscar-winning film "Three Coins in the Fountain” that supposedly guarantees a return to Rome. Learn where the money goes. |
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In partnership with Frontieras |
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Unlocking $2.1 Trillion in Energy Potential |
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One company has developed a technology that extracts valuable resources from coal without burning it. From hydrogen to diesel, fertilizer, and more, Frontieras has the potential to address $2.1T worth of markets.
It’s similar to when John D. Rockefeller commercialized oil refining technology. If Frontieras captures just 2% of the global coal market, they have a roadmap to achieve a $1 Trillion valuation.
They just completed the land purchase for their $850M flagship facility. Now, with their NASDAQ ticker (FASF) reserved and the White House favoring domestic energy, this company is positioned for potential valuation impact. Become a Frontieras shareholder before their share price changes on February 12.* |
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Sports, Entertainment, & Culture |
> Kid Rock to headline Turning Point's alternative to Bad Bunny's Super Bowl halftime show (More) | President Donald Trump threatens to sue Trevor Noah over Grammys joke about Jeffrey Epstein's island (More) |
> Police investigate the disappearance of "Today" coanchor Savannah Guthrie's mother after the 84-year-old went missing in Arizona over the weekend (More) |
> NFL Pro Bowl kicks off at 8 pm ET; Patriots quarterback Drake Maye, Seahawks quarterback Sam Darnold, and others opt out ahead of Super Bowl, Feb. 8 (More) | New Orleans Saints to play NFL's first regular-season game in Paris (More) |
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> OpenAI launches AI-powered coding app exclusively for Apple computers (More) | Firefox users can block generative AI features in browser, starting Feb. 24 (More) |
> Geologists discover rivers slice through mountain ranges because Earth's crust is so dense, it begins to sink—a process dubbed "lithospheric drip" (More) |
> Astronomers learn Jupiter is smaller and flatter than long assumed, based on 26 new measurements; the gaseous planet is roughly 5 miles less wide at the equator and 15 miles flatter at the poles (More) |
🧬 What we learned about DNA: From its first identification in 1869 to how it replicates before cell division, tomorrow's 1440 Science & Technology newsletter explores the science behind the molecule encoding our genetic information. Join 125,000+ science enthusiasts here! |
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> Elon Musk's SpaceX acquires xAI to create world's most valuable private company, expected to be valued at $1.2T, with a portfolio that includes xAI's Grok chatbot and social media platform X (More) | See announcement (More) |
> Devon Energy, Coterra Energy strike $58B merger, becoming top player in the Permian Basin—the US' highest-producing oil field; deal is oil sector's largest since Diamondback Energy bought Endeavor Energy Resources for $26B in 2024 (More) |
> US stock markets close higher (S&P 500 +0.5%, Dow +1.1%, Nasdaq +0.6%) (More) | January jobs report, previously expected Friday, to be delayed due to partial government shutdown (More) |
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In partnership with Finance Advisors |
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Firing Your Financial Advisor? Read This Now |
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> The House is expected to vote today on whether to end the partial government shutdown; will consider the Senate's measure, including a two-week stopgap for the Department of Homeland Security—a sticking point for Democrats (More) |
> Former President Bill Clinton and former Secretary of State Hillary Clinton agree to testify in House Oversight Committee probe into Jeffrey Epstein; announcement comes ahead of previously scheduled contempt vote (More) |
> US and Iranian officials schedule rare in-person talks in Istanbul Friday amid tensions between the two countries over Iranian protests, US military buildup in the Middle East (More) | Syrian army enters Kurdish-controlled city of al-Hassakeh after ceasefire reached last month, ending weeks of fighting (More) |
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> Cinema's Greatest Ending
BBC | Gregory Wakeman. Almost 100 years ago, Charlie Chaplin released "City Lights," featuring what some consider to be the greatest final shot in cinematic history. Chaplin shot the sequence 342 times—a Guinness World Record. (Read) |
> Seven Kinds of Rest
Life Kit | Staff. Internal medicine physician Dr. Saundra Dalton-Smith outlines seven restorative practices beyond simply sleep, including physical, social, and even spiritual rest. (Listen) |
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In partnership with Frontieras |
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Nasdaq Ticker ‘FASF’ Reserved |
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With the Nasdaq ticker FASF reserved and land purchased for their flagship coal reformation facility, Frontieras is hitting massive milestones at a rapid pace. This positions the company for potential valuation impact as they reform coal into $2.1 Trillion worth of high-value commodities.
You have until February 12 to invest at $7.38/share.* |
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Historybook: 15th Amendment to US Constitution ratified, granting voting rights regardless of race (1870); American novelist Gertrude Stein born (1874); Luna 9 becomes first spacecraft to make soft landing on the moon (1966); Eileen Collins becomes the first woman to pilot a space shuttle (1995). |
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"You look ridiculous if you dance. You look ridiculous if you don't dance. So you might as well
dance." |
- Gertrude Stein, from "Three Lives" |
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Behind the Name. In 1440, the printing press sparked a knowledge revolution. We carry that spirit forward, cutting through the noise and algorithm-driven feeds, to bring fact-driven knowledge to everyone.
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*Disclosure: This is a paid advertisement for Frontieras’s Regulation A offering. Please read the offering circular at https://invest.frontieras.com/
Reservation of the ticker symbol is not a guarantee that we will be listed on the NASDAQ. Listing on the NASDAQ is subject to approvals.
Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC. |
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