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Pharma Giants Report Record Profits as US Patients Struggle to Afford Meds
The world's ten largest pharmaceutical companies generated nearly $300 billion in revenue during the first half of 2026, even as millions of Americans report rationing or skipping doses to manage costs. Despite President Donald Trump’s frequent promises to lower drug prices, industry profits have surged by $24 billion compared to last year.
Critics Label New TrumpRx Website a Corporate Giveaway
Donald Trump launched a namesake website Thursday claiming to lower prescription drug costs, but the initiative has drawn immediate condemnation from lawmakers and healthcare experts who characterize it as a deceptive vehicle for Big Pharma interests and potential financial self-dealing involving the president's family.
Analysis Finds TrumpRx Offers Price Savings on Only One Medication
When the Trump administration launched the TrumpRx platform last month, it promised to slash costs for dozens of high-priced prescription drugs. However, a new analysis from the Center for American Progress reveals that of the 54 medications listed on the government-backed site, only one actually offers a unique price discount.
Gaza Cancer Patients Face Preventable Deaths Amid Border Stagnation
“I am just waiting to die,” says 33-year-old Khuloud Abu Sahmoud, whose ovarian cancer has metastasized while she remains trapped in Gaza. She is one of thousands of patients with medical referrals who are currently being denied the exit permits required to access life-saving treatment outside the war-torn territory.
Binance to Block Transactions with HTX and 10 Other Exchanges
Starting August 23, Binance will halt all transactions involving HTX and ten other cryptocurrency platforms to align with evolving international sanctions. The exchange warned users that interactions with these providers, whether direct or indirect, could trigger internal compliance reviews and potential restrictions on affected digital wallets.
Nigel Farage’s Clacton Win Overshadowed by Comedy Rival and Inquiry
Over one in four voters in the Clacton by-election backed Count Binface, a performance artist wearing a trashcan helmet, turning Nigel Farage’s victory into a surreal political spectacle. The Reform UK leader skipped the official results, leaving his parody rival to claim a moral victory in a race marred by controversy.
XRP Slumps Toward Critical Support as Regulatory Delays Mount
XRP is struggling to maintain its $1 floor as investor confidence wanes and the legislative timeline for the Digital Asset Market Clarity Act pushes into mid-September. With the token underperforming its peers, market participants are increasingly looking for ways to hedge against volatility while awaiting a clear regulatory signal.
HashKey and YF Life Trial HKDAP Stablecoin for Insurance Payments
Insurance provider YF Life and exchange HashKey have completed a live transaction using HKDAP, Hong Kong’s first regulated, dollar-pegged stablecoin. The pilot moves the digital asset beyond simple minting and redemption, testing a payment flow designed to reduce premium settlement times from several business days to near real-time.
Infrastructure Emerges as a Hedge Against Market Volatility
As KKR closes its record-breaking $19 billion Global Infrastructure Investors V fund, wealth managers are increasingly positioning infrastructure as a critical defensive component in diversified portfolios. The sector is proving uniquely resilient to inflation and rising interest rates, attracting capital that seeks stability beyond traditional equity markets.
Citigroup CEO Jane Fraser backs CLARITY Act despite stablecoin concerns
Citigroup CEO Jane Fraser has signaled support for the pending CLARITY Act, even as she continues to lobby for stricter rules on stablecoin rewards. Her position highlights a widening rift within the banking sector, as major institutions weigh the benefits of a regulatory framework against the potential loss of customer deposits.
RedotPay Delays IPO Amid $473 Million Binance Lawsuit
A $473 million legal battle with Binance affiliates has forced Hong Kong-based stablecoin processor RedotPay to stall its anticipated US initial public offering. Despite the setback, the firm secured a US money transmitter license this week, signaling a continued push into the American market despite mounting regulatory and judicial headwinds.
Fake crypto job offer leads to $11.8 million corporate heist
A recruitment scam targeting a Singapore-based company resulted in the theft of $11.8 million in cryptocurrency after a fake job interview process allowed attackers to compromise a corporate device and infiltrate the firm's internal infrastructure, according to local authorities.
Democratic Senators Warn of Nursing Home Voter Disenfranchisement
A group of 13 Democratic senators, led by Alex Padilla and Elizabeth Warren, is challenging new federal guidance from the Centers for Medicare and Medicaid Services, arguing that the policy threatens to intimidate staff and effectively block nursing home residents from participating in the upcoming midterm elections.
South Korean Lawmaker Targets 22% Crypto Tax as Capital Flight Looms
With roughly 13 million citizens trading virtual assets, South Korean lawmaker Park Soo-young is mounting a fresh campaign to scrap a 22% levy on crypto gains. He warns that the policy, set for January 2027, risks punishing retail investors while failing to entice them toward the domestic stock market.
HTX and UK Regulator Pause Lawsuit for Settlement Talks
The UK Financial Conduct Authority and crypto exchange HTX have paused High Court proceedings until late August to pursue a settlement. The legal battle, initiated by the regulator last October, centers on allegations that the platform illegally marketed financial services to British consumers without proper authorization.
Upbit and Bithumb to delist STORJ, JASMY and TT in September
South Korea’s two largest cryptocurrency exchanges, Upbit and Bithumb, will terminate trading support for Storj (STORJ), JasmyCoin (JASMY) and ThunderCore (TT) on September 14. The coordinated delisting follows an internal review process where both platforms concluded that the underlying issues prompting earlier warning designations remained unresolved.
Plume and Shinhan Asset Management test KRW tokenized fund pilot
Plume and Shinhan Asset Management have signed a memorandum of understanding to conduct an offshore proof of concept for a KRW-denominated tokenized fund. By leveraging Shinhan’s ultra-short-term bond assets, the partners aim to evaluate the technical and regulatory infrastructure required for future cross-border investment products.
Wall Street Journal Seeks Dismissal of Binance Defamation Lawsuit
The Wall Street Journal has asked a federal judge to dismiss a defamation lawsuit filed by Binance, which centers on reports alleging the exchange weakened internal compliance and facilitated over $1 billion in transactions linked to sanctioned Iranian entities. The motion marks a significant escalation in the ongoing legal dispute.
Hyperliquid User Loses $550,000 to Google Ad Phishing Scam
A Hyperliquid trader lost approximately 550,019 USDC on August 13 after clicking a fraudulent search result. The victim’s funds were siphoned into three distinct cryptocurrency addresses, according to data shared by FlashRescue co-founder Darcy, highlighting the persistent danger of malicious advertisements appearing at the top of Google search results.
Solana Targets October for Alpenglow Consensus Upgrade
Solana is preparing to replace its current TowerBFT consensus with Alpenglow, a new design aimed at slashing transaction finality from 12.8 seconds to roughly 150 milliseconds. While speculation previously suggested a September launch, the Solana Foundation now points to an October target via the Agave 4.3 release.
NUSD Supply Plummets 76% as Neutrl Suspends Redemptions
The circulating supply of NUSD has cratered to $53.6 million, marking a 76% decline from the $226 million recorded in February. Issuer Neutrl halted all minting and redemption functions this week, citing undisclosed circumstances affecting protocol reserves that remain under active assessment by legal counsel.
Baltimore Sues Kalshi and Polymarket Over Unlicensed Sports Betting
Baltimore officials have launched a legal assault against prediction market operators Kalshi and Polymarket, alleging the platforms function as unlicensed sportsbooks. The city claims these companies bypass essential consumer protections and state gambling laws by rebranding traditional sports betting—such as point spreads and game winners—as financial derivatives.
SEC Postpones Regulation Crypto Vote Over Scheduling Conflict
The U.S. Securities and Exchange Commission abruptly pulled the plug on its August 14 open meeting, shelving a critical vote on proposed rules for crypto asset offerings. While the agency cited an unforeseen scheduling issue, the delay leaves the future of the so-called Regulation Crypto framework in limbo without a rescheduled date.
Bitwise Enlists Superstate to Bring Fund Shares On-Chain
Conflict lead: While Bitwise recently trimmed its workforce by 14%, the firm is doubling down on technical infrastructure, announcing a partnership with Superstate to offer tokenized versions of its investment funds. The initiative aims to shift ownership records to the blockchain without altering the underlying rights of shareholders.
JPMorgan Severed Banking Ties With Polymarket Over Regulatory Risks
JPMorgan Chase terminated its primary banking relationship with prediction market platform Polymarket in October 2025, citing mounting regulatory concerns. Despite this move, the bank remains engaged with the firm, reportedly eyeing a potential role in future underwriting should the company pursue an initial public offering.
Gemini Posts $107.7M Q2 Loss as Trading Volume Slides
A 66% plunge in spot trading volume has weighed heavily on Gemini, which reported a $107.7 million net loss for the second quarter of 2026. Despite a 37% year-over-year revenue increase, the exchange continues to struggle with the volatility of crypto markets and rising costs from its credit card portfolio.
Frankfurter Leben Gruppe Acquires Athora Deutschland
Frankfurter Leben Gruppe is acquiring Athora Deutschland in a strategic move to consolidate German life insurance portfolios. The transaction, marking the firm's seventh acquisition since its 2015 founding, includes the transfer of all employees currently managing Athora’s service operations, with completion anticipated by mid-2027 pending standard regulatory approvals.
Private Infrastructure Remains a Hedge Against Economic Volatility
As KKR closes a record-breaking $19 billion infrastructure fund, industry experts point to a shift in capital allocation. Anish Butani of investment consultancy bfinance argues that infrastructure is successfully insulating investors from fluctuating GDP growth and persistent inflation, cementing its role as a critical component in diversified institutional portfolios.
FG Nexus Liquidates Ethereum Treasury After $45 Million Loss
A loss of $45.2 million has effectively shuttered the Ethereum treasury strategy at Nasdaq-listed FG Nexus less than a year after its inception. By June 30, the firm had fully exited its digital asset holdings, pivoting away from a volatile crypto experiment toward a focus on manufactured housing real estate.
AlTi Global narrows losses as buyout rumors persist
Amid swirling speculation regarding a potential buyout or delisting, AlTi Global reported an 11 percent increase in second-quarter revenues to $58 million. The wealth management group simultaneously managed to tighten its GAAP operating loss by 58 percent, bringing the figure down to $11 million.