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Wealth Managers Bet on AI Beyond Tech Stocks
Emerging markets and artificial intelligence remain the primary engines for equity growth despite recent market volatility. While wealth managers at Pictet and Indosuez maintain confidence in the tech-driven supercycle, they are increasingly looking toward industrial, utility, and infrastructure sectors to sustain momentum as global economic conditions shift.
DBS Hits Record Profit as Wealth Assets Cross S$500 Billion
Assets under management in the wealth segment at Singapore’s DBS Group have surged past the S$500 billion milestone for the first time. This expansion helped the bank post a record net profit of S$3.08 billion for the second quarter of 2026, marking a 9 per cent increase from the previous year.
Lighthouse Canton Secures $11 Million Private Credit Deal in India
Singapore-based asset manager Lighthouse Canton has finalized an INR 1,050 million private credit investment, channeling $11 million into the Indian leisure sector. The transaction marks another milestone in the firm's strategy to provide bespoke financing solutions for established businesses across the subcontinent through its specialized alternative investment funds.
James Talarico Targets the 'Powell Memo' in Texas Senate Bid
Standing before 1,300 voters in Arlington, Texas, Democratic Senate candidate James Talarico framed the modern cost-of-living crisis not as a recent political failure, but as the calculated outcome of a fifty-year-old corporate strategy designed to systematically dismantle the New Deal and concentrate national wealth.
Warren blocks CLARITY Act over consumer protection and ethics concerns
Senator Elizabeth Warren has signaled her opposition to the CLARITY Act, arguing that the proposed digital asset framework fails to address critical risks. While the Massachusetts Democrat supports establishing federal rules for the crypto industry, she maintains that current legislation neglects consumer safeguards, national security, and potential conflicts of interest.
Institutional XRP ETF Inflows Surge Past $1.51 Billion
Institutional investors are pouring capital into XRP-backed exchange-traded funds, pushing cumulative inflows beyond $1.51 billion as of August 1. This sustained demand signals growing confidence in the asset’s role within mainstream financial products, even as retail market participants maintain a more cautious stance toward current price volatility.
Third Way Plans $15 Million Campaign to Counter Progressive Surge
As progressive candidates continue to disrupt Democratic primaries, the corporate-funded group Third Way is preparing a $15 million offensive. President Jonathan Cowan characterizes the rise of organizations like the Democratic Socialists of America as a mortal danger to the party, signaling an impending internal battle for the future of the Democratic platform.
Ro Khanna Proposes 'Data Center Bill of Rights' to Empower Communities
With public anxiety over AI infrastructure surging, Rep. Ro Khanna has unveiled a federal framework designed to dismantle the secrecy surrounding data center expansion, granting local communities the legal authority to block projects that threaten local water supplies, utility affordability, and residential quality of life.
CFTC Chief Selig Pushes for Innovation in $1.2 Quadrillion Market
With global derivatives contracts surpassing $1.2 quadrillion in notional value, CFTC Chairman Michael Selig is signaling a shift toward regulatory flexibility. He argues that American financial leadership depends on fostering innovation rather than conforming to restrictive international standards that could stifle competition and prevent new products from reaching market participants.
Bitwise XRP ETF Outflows Spark Market Misinterpretation
A reported $3.58 million redemption from the Bitwise XRP ETF on August 5 ignited speculation of a bearish shift by the asset manager. However, the move reflects standard shareholder exit mechanics rather than a discretionary market decision, as the firm continues to facilitate redemptions through established trust protocols.
AIPAC Eyes Michigan Senate Seat After Expensive Primary Loss
After burning through $30 million in a failed attempt to block Abdul El-Sayed in Michigan’s Democratic primary, the American Israel Public Affairs Committee is reportedly preparing to pivot its massive financial machinery toward supporting the epidemiologist’s Republican opponent, Mike Rogers, in the upcoming general election.
OpenAI Secures Rain AI Patents Following Failed Acquisition
After months of unsuccessful takeover negotiations left hardware startup Rain AI on the brink of collapse, OpenAI has pivoted to a strategic asset grab. The ChatGPT developer confirmed the acquisition of select patents from the struggling firm, though it remains silent on the price paid or the specific technologies involved.
Optimism Forecasts 343 Million More OP Tokens in Circulation by 2027
Optimism Foundation projects its circulating supply will hit 2.504 billion OP tokens by April 2027, marking a significant expansion despite a recent slowdown in incentive spending. This target, representing 58.3% of the total supply, arrives amid discrepancies between the project's official budget report and its live token tracker.
Senate stalls on CLARITY Act as August recess approaches
The prospect of a weekend vote on the CLARITY Act evaporated Thursday after Senate leadership omitted the crypto market structure bill from the chamber’s procedural schedule. With no cloture filing on the docket, the legislation remains sidelined while senators prioritize government funding and high-level nominations ahead of the looming August recess.
Zeus Wallet Shuts Down Infrastructure Following Cybersecurity Breach
Zeus Wallet has pulled its infrastructure offline to conduct a comprehensive security audit after suffering a targeted cyberattack. While the company confirmed that no customer funds were compromised, the self-custodial Bitcoin Lightning provider has yet to establish a timeline for when services will return to normal operation.
Crypto 'Wrench Attacks' Surge as Physical Violence Targets Holders
Violent physical attacks against cryptocurrency holders netted more than $30 million globally during the first half of 2026, according to Chainalysis. While the digital realm remains the primary theater for cybercrime, criminals are increasingly shifting toward home invasions and kidnappings to force victims into transferring their assets.
Study Links Canadian Wildfires to Human-Driven Climate Change
While Donald Trump blames Canada’s boreal forest management for the country's recent infernos, a new report from World Weather Attribution confirms that human-induced climate change made the intense fire conditions twice as likely to occur, fundamentally challenging the narrative that forest maintenance is the primary culprit.
Plume Joins DTCC Tokenization Working Group
Plume has secured a seat in the Depository Trust & Clearing Corporation’s (DTCC) Digital Assets Solutions Industry Working Group, aligning itself with major financial institutions including Nasdaq, Charles Schwab, and Alpaca as the organization prepares for an October 2026 service launch.
Blockchain.com Secures Full VASP Custody Licence in Cayman Islands
Blockchain.com has secured a definitive Virtual Asset Service Provider custody licence from the Cayman Islands Monetary Authority, transitioning from conditional status to full regulatory compliance. This milestone allows the platform to offer institutional-grade custody, staking, and exchange services to both retail and corporate clients within the jurisdiction.
Few and Far Founder Indicted in $10 Million Fraud Scheme
Federal prosecutors in Manhattan have charged Taj Tarsha, the 34-year-old founder of NFT startup Few and Far, with securities and wire fraud. Authorities allege that Tarsha misappropriated over $10 million raised from 67 investors, funneling the capital into personal gambling, speculative crypto trades, and luxury housing costs.
Bitget Targets Bhutan Expansion With Gelephu Mindfulness City Deal
Bitget has signed a cooperation agreement with Bhutan’s Gelephu Mindfulness City Authority to establish a local presence and pursue a Financial Services Licence. The deal marks a shift in the exchange’s global strategy, focusing on building a regulated ecosystem within the Himalayan nation's emerging special administrative region.
Move-to-earn platform Step App to cease operations on August 21
Step App will shutter all global services on August 21, ending a four-year run that once saw the project enlist Olympic champion Usain Bolt as its global ambassador. The move-to-earn platform provided no specific financial or regulatory reasoning for the sudden closure, leaving users to scramble to secure their digital assets.
Fun Coffee Crypto Scam Hits HK$104 Million in Investor Losses
Hong Kong police have received 255 reports tied to the Fun Coffee cryptocurrency scheme, with total losses reaching HK$104 million. The platform, which masqueraded as a high-tech Vietnamese coffee venture, promised astronomical annual returns of up to 278% before abruptly halting all withdrawals in late July.
BNB Overtakes Ether and Solana in Grayscale Smart Contract Fund
Grayscale Investments has reshaped its Smart Contract Fund, assigning BNB a 30.6% portfolio weight as of August 3. This strategic rebalancing pushes BNB ahead of Ether at 29.47% and Solana at 29.15%, marking a significant shift in the asset manager’s allocation strategy for its multi-asset crypto product.
PowerCompute Refinances $18M Debt Using Bitcoin Collateral
PowerCompute has consolidated $18 million in outstanding debt into a new Bitcoin-backed credit facility, leveraging 307 BTC to secure more favorable lending terms. The deal replaces three existing loans and drops the company's annual interest rate to approximately 2%, freeing up capital without forcing a liquidation of its treasury.
Coinbase Expands UK Platform to Include U.S. Equities Trading
Eligible UK users can now trade nearly 4,000 U.S. stocks directly through Coinbase, marking a significant step in the exchange’s strategy to consolidate traditional financial assets and digital currencies into a single, around-the-clock application.
Real-World Asset Deposits Triple to $7.4B as DeFi Markets Contract
While the broader decentralized finance sector struggled with a 15% decline in deposits during the second quarter of 2026, tokenized real-world assets bucked the trend. According to a report by CoinShares, deposits in these instruments surged to $7.4 billion, more than tripling from the $2.3 billion recorded just one year prior.
StrongBlock Drained of $72K After Abandoned Governance Hijack
An attacker seized control of StrongBlock’s dormant governance system to siphon $72,000 in tokens, proving that abandoned protocols remain vulnerable to hostile takeovers. By accumulating a majority of the nearly worthless STRONG governance tokens, the perpetrator forced through a malicious proposal that granted them full administrative authority over the contract.
Block Expands Bitcoin Treasury to 9,117 BTC Following S&P 500 Entry
Jack Dorsey’s fintech firm Block Inc. has bolstered its corporate treasury with an additional 85 Bitcoin, bringing its total holdings to 9,117 BTC. This incremental acquisition secures the company’s 15th-place ranking among publicly traded corporate Bitcoin holders, further cementing its commitment to the asset following its recent induction into the S&P 500.
Trump Installs Project 2025 Author at Interior Department Watchdog Office
Rep. Jared Huffman (D-Calif.) has denounced the appointment of Dennis Kirk to the Interior Department’s Office of Inspector General, labeling the move a fraud on the American public. Kirk, a former White House budget official, co-authored Project 2025 chapters advocating for the aggressive decentralization and privatization of the federal government.