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Global Witness claims Amazon, Sony sourced conflict-linked coltan from DRC

Global Witness claims Amazon, Sony sourced conflict-linked coltan from DRC

An investigation alleges major electronics brands likely purchased minerals from supply chains controlled by M23 rebels accused of widespread atrocities.

Amazon.com Inc. (AMZN) price

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Market cap
$2.7T (shares as of 2026-07-22)
P/E (trailing)
20.5 (EPS to 2026-06-30)
Annual revenue
$716.9B USD (FY ended 2025-12-31) 10-K
Annual revenue growth
+12.4% (FY ended 2025-12-31 vs FY ended 2024-12-31) 10-K
Annual net income
77,670,000,000 USD (FY ended 2025-12-31, attributable to the company) 10-K
Annual operating margin
11.2% (FY ended 2025-12-31)
Forward P/E
Unavailable: no dated forecast source

Gloria daily close for session Oct 28, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.

Amazon.com Inc. and its peers

Company PriceMarket capP/E (trailing)Forward P/EAnnual revenue (USD)Annual revenue growthAnnual net income (USD)Operating margin
Amazon.com Inc. AMZN · Price dated Oct 28, 2026 · tokenized AMZNx $255$2.7T20.5Unavailable$716.9BFY ended 2025-12-31 · 10-K+12.4%FY ended 2025-12-31 vs 2024-12-31 · 10-K77,670,000,000FY ended 2025-12-31, attributable to the company · 10-K11.2%FY ended 2025-12-31
Coupang, Inc. CPNG · Price dated Oct 28, 2026 $14UnavailableNot meaningfulLoss, diluted EPS −0.43
to 2026-06-30 · SEC filing
Unavailable$34.5BFY ended 2025-12-31 · 10-K+14.1%FY ended 2025-12-31 vs 2024-12-31 · 10-K208,000,000FY ended 2025-12-31, attributable to the company · 10-K1.4%FY ended 2025-12-31
Wayfair Inc. W · Price dated Oct 28, 2026 $114UnavailableNot meaningfulLoss, diluted EPS −2.48
to 2026-06-30 · SEC filing
Unavailable$12.5BFY ended 2025-12-31 · 10-K+5.1%FY ended 2025-12-31 vs 2024-12-31 · 10-K−313,000,000FY ended 2025-12-31, attributable to the company · 10-K0.1%FY ended 2025-12-31
Walmart Inc. WMT · Price dated Oct 28, 2026 · tokenized WMTx $119$942.3B43.0Unavailable$713.2BFY ended 2026-01-31 · 10-K+4.7%FY ended 2026-01-31 vs 2025-01-31 · 10-K21,893,000,000FY ended 2026-01-31, attributable to the company · 10-K4.2%FY ended 2026-01-31

Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.

Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 28, 2026, 3:46 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.

Token vs underlying stock

Current comparison for AMZN. Historical observations may postdate this article.

AMZNx token unit vs AMZN share · USD

$254.56Oct 28 UTC

-6.7% over displayed period

● AMZNx token┄ AMZN stock: $254.60

Aug 5, 2026: token $272.84 at 20:00 UTC; stock close $272.65 Aug 6, 2026: token $272.13 at 20:00 UTC; stock close $272.26 Aug 7, 2026: token $274.76 at 20:00 UTC; stock close $274.48 Aug 10, 2026: token $277.96 at 20:00 UTC; stock close $278.09 Aug 11, 2026: token $272.21 at 20:00 UTC; stock close $272.27 Aug 12, 2026: token $267.48 at 20:00 UTC; stock close $267.28 Aug 13, 2026: token $265.07 at 20:00 UTC; stock close $265.13 Aug 14, 2026: token $262.81 at 20:00 UTC; stock close $262.65 Aug 17, 2026: token $261.07 at 20:00 UTC; stock close $261.31 Aug 18, 2026: token $259.40 at 20:00 UTC; stock close $259.45 Aug 19, 2026: token $265.80 at 20:00 UTC; stock close $265.84 Aug 20, 2026: token $259.95 at 20:00 UTC; stock close $260.11 Aug 21, 2026: token $258.73 at 20:00 UTC; stock close $258.63 Aug 24, 2026: token $262.28 at 20:00 UTC; stock close $262.07 Aug 25, 2026: token $261.06 at 20:00 UTC; stock close $261.06 Aug 26, 2026: token $260.32 at 20:00 UTC; stock close $260.28 Aug 27, 2026: token $256.30 at 20:00 UTC; stock close $256.26 Aug 28, 2026: token $266.44 at 20:00 UTC; stock close $266.43 Aug 31, 2026: token $259.63 at 20:00 UTC; stock close $259.77 Sep 1, 2026: token $254.64 at 20:00 UTC; stock close $254.92 Sep 2, 2026: token $254.81 at 20:00 UTC; stock close $254.98 Sep 3, 2026: token $258.83 at 20:00 UTC; stock close $258.90 Sep 4, 2026: token $258.34 at 20:00 UTC; stock close $258.51 Sep 8, 2026: token $256.81 at 20:00 UTC; stock close $256.97 Sep 9, 2026: token $252.24 at 20:00 UTC; stock close $252.40 Sep 10, 2026: token $251.61 at 20:00 UTC; stock close $251.89 Sep 11, 2026: token $257.13 at 20:00 UTC; stock close $256.78 Sep 14, 2026: token $253.68 at 20:00 UTC; stock close $253.54 Sep 15, 2026: token $248.35 at 20:00 UTC; stock close $248.42 Sep 16, 2026: token $246.01 at 20:00 UTC; stock close $245.96 Sep 17, 2026: token $251.35 at 20:00 UTC; stock close $251.19 Sep 18, 2026: token $253.69 at 20:00 UTC; stock close $253.71 Sep 21, 2026: token $258.31 at 20:00 UTC; stock close $258.45 Sep 22, 2026: token $255.06 at 20:00 UTC; stock close $254.98 Sep 23, 2026: token $249.39 at 20:00 UTC; stock close $249.27 Sep 24, 2026: token $249.48 at 20:00 UTC; stock close $249.38 Sep 25, 2026: token $249.71 at 20:00 UTC; stock close $249.67 Sep 28, 2026: token $246.30 at 20:00 UTC; stock close $246.15 Sep 29, 2026: token $246.66 at 20:00 UTC; stock close $246.67 Sep 30, 2026: token $249.53 at 20:00 UTC; stock close $249.15 Oct 1, 2026: token $248.17 at 20:00 UTC; stock close $248.23 Oct 2, 2026: token $251.37 at 20:00 UTC; stock close $251.52 Oct 5, 2026: token $251.43 at 20:00 UTC; stock close $251.40 Oct 6, 2026: token $256.28 at 20:00 UTC; stock close $256.29 Oct 7, 2026: token $259.85 at 20:00 UTC; stock close $259.92 Oct 8, 2026: token $254.31 at 20:00 UTC; stock close $254.06 Oct 9, 2026: token $262.35 at 20:00 UTC; stock close $262.43 Oct 12, 2026: token $259.60 at 20:00 UTC; stock close $259.53 Oct 13, 2026: token $258.72 at 20:00 UTC; stock close $258.58 Oct 14, 2026: token $253.89 at 20:00 UTC; stock close $254.08 Oct 15, 2026: token $254.89 at 20:00 UTC; stock close $254.76 Oct 16, 2026: token $250.16 at 20:00 UTC; stock close $250.00 Oct 19, 2026: token $262.52 at 20:00 UTC; stock close $262.45 Oct 20, 2026: token $262.57 at 20:00 UTC; stock close $262.63 Oct 21, 2026: token $262.57 at 20:00 UTC; stock close $262.37 Oct 22, 2026: token $250.30 at 20:00 UTC; stock close $250.38 Oct 23, 2026: token $248.07 at 20:00 UTC; stock close $248.00 Oct 26, 2026: token $248.95 at 20:00 UTC; stock close $249.09 Oct 27, 2026: token $253.41 at 20:00 UTC; stock close $253.10 Oct 28, 2026: token $254.56 at 20:00 UTC; stock close $254.60
Aug 5$245.96 to $278.09Oct 28

Source: CoinGecko + Gloria · Retrieved Oct 28, 20:51 UTC

Methodology and data

Split-adjusted regular-session stock closes from the existing Gloria shared history, paired only with an observed token price within 45 minutes of 16:00 New York time. Up to 60 matched sessions. No interpolation or missing-date fill. Weekends and known early closes are omitted. Token units are not adjusted for issuer multipliers or dividend treatment. This compares quoted prices, not fair value, executable premiums or arbitrage returns. Solid line: token. Dashed line: stock. Exact quote times and values appear below. Historical observations. Retrieval refers to the token source. Token quote times use UTC. The fixed cohort shows its oldest member fetch.

Amazon token vs Amazon stock: exact source values
Date (UTC)Token (USD)Stock close (USD)Token quote (UTC)
2026-08-05272.84272.652026-08-05 20:00
2026-08-06272.13272.262026-08-06 20:00
2026-08-07274.76274.482026-08-07 20:00
2026-08-10277.96278.092026-08-10 20:00
2026-08-11272.21272.272026-08-11 20:00
2026-08-12267.48267.282026-08-12 20:00
2026-08-13265.07265.132026-08-13 20:00
2026-08-14262.81262.652026-08-14 20:00
2026-08-17261.07261.312026-08-17 20:00
2026-08-18259.40259.452026-08-18 20:00
2026-08-19265.80265.842026-08-19 20:00
2026-08-20259.95260.112026-08-20 20:00
2026-08-21258.73258.632026-08-21 20:00
2026-08-24262.28262.072026-08-24 20:00
2026-08-25261.06261.062026-08-25 20:00
2026-08-26260.32260.282026-08-26 20:00
2026-08-27256.30256.262026-08-27 20:00
2026-08-28266.44266.432026-08-28 20:00
2026-08-31259.63259.772026-08-31 20:00
2026-09-01254.64254.922026-09-01 20:00
2026-09-02254.81254.982026-09-02 20:00
2026-09-03258.83258.902026-09-03 20:00
2026-09-04258.34258.512026-09-04 20:00
2026-09-08256.81256.972026-09-08 20:00
2026-09-09252.24252.402026-09-09 20:00
2026-09-10251.61251.892026-09-10 20:00
2026-09-11257.13256.782026-09-11 20:00
2026-09-14253.68253.542026-09-14 20:00
2026-09-15248.35248.422026-09-15 20:00
2026-09-16246.01245.962026-09-16 20:00
2026-09-17251.35251.192026-09-17 20:00
2026-09-18253.69253.712026-09-18 20:00
2026-09-21258.31258.452026-09-21 20:00
2026-09-22255.06254.982026-09-22 20:00
2026-09-23249.39249.272026-09-23 20:00
2026-09-24249.48249.382026-09-24 20:00
2026-09-25249.71249.672026-09-25 20:00
2026-09-28246.30246.152026-09-28 20:00
2026-09-29246.66246.672026-09-29 20:00
2026-09-30249.53249.152026-09-30 20:00
2026-10-01248.17248.232026-10-01 20:00
2026-10-02251.37251.522026-10-02 20:00
2026-10-05251.43251.402026-10-05 20:00
2026-10-06256.28256.292026-10-06 20:00
2026-10-07259.85259.922026-10-07 20:00
2026-10-08254.31254.062026-10-08 20:00
2026-10-09262.35262.432026-10-09 20:00
2026-10-12259.60259.532026-10-12 20:00
2026-10-13258.72258.582026-10-13 20:00
2026-10-14253.89254.082026-10-14 20:00
2026-10-15254.89254.762026-10-15 20:00
2026-10-16250.16250.002026-10-16 20:00
2026-10-19262.52262.452026-10-19 20:00
2026-10-20262.57262.632026-10-20 20:00
2026-10-21262.57262.372026-10-21 20:00
2026-10-22250.30250.382026-10-22 20:00
2026-10-23248.07248.002026-10-23 20:00
2026-10-26248.95249.092026-10-26 20:00
2026-10-27253.41253.102026-10-27 20:00
2026-10-28254.56254.602026-10-28 20:00

Stock history: Gloria · Retrieved Oct 29, 00:31 UTC. Token history: CoinGecko AMZNx.

Quoted token and share units can have different rights, multipliers and dividend treatment. This is not an executable premium or arbitrage signal.

The minerals inside your smartphone might be funding war crimes. That’s the thrust of a new investigation from Global Witness, which alleges that Amazon, Ericsson, and Sony are among global brands that “likely” sourced coltan from supply chains controlled by the M23 rebel group in the Democratic Republic of Congo.

M23, a militia accused of summary executions, widespread sexual violence, and torture, has controlled the Rubaya mines in North Kivu since late April 2024. Those mines produce roughly 15% of the world’s coltan and tantalum supply, the stuff that makes capacitors in your phone work. A typical smartphone contains about 40 milligrams of tantalum.

Following the supply chain

In this case, the route allegedly runs through Rwanda. According to the investigation, Luxembourg-based trading firm Traxys purchased 280 tonnes of coltan from Rwanda in 2024. A substantial portion of that coltan was allegedly sourced from M23-controlled areas in the DRC.

The M23 group generates an estimated $800,000 per month from taxation and trade activities tied to the Rubaya mines. That’s nearly $10 million a year flowing to a group that has been under US sanctions since 2013.

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And yet, no companies purchasing M23-linked coltan have faced sanctions. Traxys, the trader at the center of the allegations, has not been sanctioned either.

Why existing regulations haven’t worked

This isn’t the first time the world has tried to address conflict minerals from the DRC. The Dodd-Frank Act, passed in 2010, required US-listed companies to disclose whether their products contained conflict minerals from the region. The EU followed with its own conflict minerals regulation, which took full effect in 2021.

The human cost extends beyond the conflict itself. A catastrophic landslide at the Rubaya mines in February 2026 killed over 200 miners, with a history of prior deadly incidents under M23 control.

The blockchain promise, and its limits

Several pilot projects have attempted blockchain-based traceability for mineral supply chains. Companies like Minespider and RCS Global have explored distributed ledger solutions for mineral supply chain transparency.

In practice, the technology runs into a fundamental problem. Blockchain can verify that data entered into the system hasn’t been tampered with. It cannot verify that the data was accurate in the first place. If a smuggler in Goma declares that a shipment of coltan originated in Rwanda rather than an M23-controlled mine, the blockchain faithfully records that lie forever.

Combined with physical verification methods like geochemical fingerprinting, which can identify a mineral’s geographic origin through its chemical signature, distributed ledger technology could meaningfully improve traceability. But no one has deployed such a combined system at scale in the DRC’s artisanal mining sector.

What this means for investors

For companies named in the Global Witness investigation, the immediate risk is reputational. Amazon, Sony, and Ericsson all have corporate responsibility programs and public commitments to ethical sourcing.

The longer-term risk is regulatory. The EU’s Corporate Sustainability Due Diligence Directive, currently being implemented, will require large companies to identify and address human rights and environmental impacts across their supply chains. Failure to comply could result in fines and civil liability.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

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