Mortgage giant Fannie Mae has added Christopher Stanley, a cybersecurity engineer at SpaceX and social media platform X — who is also involved with the Department of Government Efficiency — to its board of directors, the latest sign of how Elon Musk’s allies are embedding into the federal government.

The appointment, detailed in a regulatory filing on Monday, lists a series of changes at Fannie, including adding Stanley to the board alongside newly confirmed Federal Housing Finance Agency director Bill Pulte and the FHFA’s general counsel Clinton Jones.

The board shakeup comes days after Pulte was confirmed to his post to lead the FHFA, the agency that sits at the crux of the U.S. housing market, with oversight of Fannie and Freddie Mac.

The appointment gives a key Musk ally a high-ranking role in overseeing the future of an entity that has been under government supervision since the 2008 financial crisis. Investors have pushed the Trump administration to release Fannie and Freddie from government conservatorship, a move that has the potential to net hedge funds billions.

BYD has EV charger that takes 5 minutes

BYD Co. unveiled a new system for electric cars that the Chinese automaker says will allow them to charge almost as fast as it takes a regular car to refuel.

BYD’s Chairman and founder Wang Chuanfu said a new battery and charging system was capable of providing 292 miles of range in 5 minutes in tests on its new Han L model.

Being able to charge a car in the time it takes a combustion engine vehicle to pull in and out of a gas station could convince drivers who aren’t willing to make lengthy stops to go electric.

The new system could provide another boost for BYD, which has come from behind to rival Tesla as the world’s top EV seller.

Google’s $32B bid for Wiz is its biggest

Google has struck a deal to buy cybersecurity firm Wiz for $32 billion in what would be the tech giant’s biggest-ever acquisition at the same time it’s facing a potential breakup of its internet empire.

The proposed takeover announced Tuesday is part of Google’s aggressive expansion into cloud computing during an artificial intelligence boom. The frenzy is driving demand for data centers that provide the computing power for AI technology and intensifying the competition in that space among Google and two other tech powerhouses, Microsoft and Amazon.

If the all-cash transaction is approved by regulators, Wiz will join Google Cloud — an increasingly important part of its business separate from the search and advertising operations.

sarepta: Patient dies after gene therapy

Sarepta Therapeutics said Tuesday that a patient died while taking its closely watched gene therapy for muscular dystrophy, sending company shares plummeting more than 25%.

The 16-year-old teen died of acute liver injury, a known side effect, Sarepta said in a statement. But the company said the “severity” of the patient’s case had not previously been seen with the therapy, called Elevidys. It’s the first known patient death with the therapy, which has been used in more than 800 patients, the company said.

In 2023, Elevidys received expedited U.S. approval despite concerns from some Food and Drug Administration scientists about its effectiveness in treating Duchenne muscular dystrophy.

Bloomberg and The Associated Press contributed to this report.