DefenseNews

Army warns it could lose $5.3 billion if Congress doesn’t pass budget

WASHINGTON — The U.S. Army will not be able to put $5.3 billion toward modernization efforts key to competing with China if Congress doesn’t pass a budget this year, the service secretary said in a Wednesday House Armed Services Committee hearing. The Pentagon has become accustomed to short-term continuing resolutions early in the fiscal year and generally schedules less programmatic activity…
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CryptoNews

Hong Kong Judge Rules Crypto Assets as ‘Property,’ Rulings Worldwide

In a court case linked to the now-defunct crypto exchange Gatecoin, a Hong Kong judge has ruled that cryptocurrencies are “property” which is “capable of being held on trust.” According to the law firm Hogan Lovells, this case should provide greater clarity to insolvency practitioners and other common law jurisdictions. Hong Kong Judge Designates Crypto Assets as ‘Property’ That Can Be…
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DefenseNews

Raytheon’s Patriot missiles arrive in Ukraine

Ukraine’s defense minister said Wednesday his country has received U.S-made Patriot surface-to-air guided missile systems it has long craved and which Kyiv hopes will help shield it from Russian strikes during the war. “Today, our beautiful Ukrainian sky becomes more…
DefenseNews

US Air Force eyes September for next phase of re-engining B-52 bombers

WASHINGTON — The U.S. Air Force expects to seek a Milestone B decision on the program to put new engines on B-52H Stratofortress bombers in September. The completion of the Milestone B review will allow the Commercial Engine Replacement Program to begin engineering and manufacturing development as well as transition away from the middle tier of acquisition rapid prototyping effort under which it…
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DefenseNews

US Navy sails first drone through Mideast’s Strait of Hormuz

DUBAI, United Arab Emirates — The U.S. Navy sailed its first drone boat through the strategic Strait of Hormuz on Wednesday, a crucial waterway for global energy supplies where American sailors often faces tense encounters with Iranian forces. The trip by the L3 Harris Arabian Fox MAST-13, a 13-meter (41-foot) speedboat carrying sensors and cameras, drew the attention of Iran’s Revolutionary…
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