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Trump turns the GOP’s Ramaswamy ad headache into a migraine
President Donald Trump has been undermining his own party for months, continuously causing more headaches for Republicans even long after most presidents would’ve taken the Election Day cue to rein themselves in.
Pitbull admits he ‘got excited’ by Jennifer Lopez in viral 2011 AMAs photo. Here’s why
The duo have collaborated on songs including the 2011 track “On the Floor.”
Trump told Ramaswamy to thank God for ad featuring opponent’s estranged mother
Trump says Amy Acton is ‘fair game’
President Donald Trump on Thursday called Ohio Democratic gubernatorial candidate Amy Acton “fair game” as he defended Republican Vivek Ramaswamy’s ad that features her estranged mother and ignored the abuse allegations against her stepfather.
Get the Facts: Fact-checking controversial political ad in Ohio governor's race
While pushback continues to grow, Vivek Ramaswamy's campaign is standing firm on its decision to run a controversial political ad targeting Democratic Ohio gubernatorial candidate Dr. Amy Acton, featuring Acton's estranged mother.
Ramaswamy’s ad splits the GOP in Ohio’s closing stretch: From the Politics Desk
Plus, Black voters play a crucial role in the battle for the Senate.
Commentary: DeWine and Vance: A case study of Ohio political reaction to the now-infamous Ramaswamy Acton ad
Ohio's 2026 campaign for governor made history this week with what's quickly becoming one of the most notorious political advertisements of all time. Republican Vice President JD Vance and Republican Gov. Mike DeWine offer a fascinating case study in political reaction.
Trump backs Ramaswamy on ad featuring Amy Acton\'s estranged mother
President Donald Trump has urged Vivek Ramaswamy, the Republican nominee for Ohio governor, to keep running a controversial ad. The ad features the estranged mother of Democratic opponent Amy Acton.
Can a Political Attack Ad Go Too Far?
Ohio Republicans are divided after Ramaswamy's attack ad featuring rival's mother drew condemnation from Gov. DeWine. Read what Vance and Husted said.
Ohio Gov. Mike DeWine calls on Vivek Ramaswamy to take down ad featuring opponent’s estranged mother
DeWine, a Republican, said he still endorses Ramaswamy over Democrat Amy Acton in the race to succeed him as Ohio’s governor.
'This is despicable': Amy Acton responds to Ohio attack ad
Her Republican opponent Vivek Ramaswamy is airing the ad featuring her estranged mother, whose husband was charged with sexual abuse in her childhood.
Huntington startup creates landmark-inspired pajamas and gifts
Huntington-based Oyster and Arrow creates hand-illustrated pajamas and gifts inspired by Long Island landmarks. Founded by Emily Greany, the company emphasizes local coastal motifs and has grown to 25 retail partners, with wholesale driving most of its revenue. The brand aims to expand along the East Coast while maintaining personal connections.
'Just wrong': Ohio Gov. Mike DeWine tells Ramaswamy to immediately take down controversial ad
Ohio Gov. Mike DeWine is telling Republican candidate for governor Vivek Ramaswamy to pull down his controversial ad featuring Democrat Dr. Amy Acton's estranged mother.
Vivek Ramaswamy campaign ad for Ohio ‘shameful, disgusting’, says Republican congresswoman
Nancy Mace said: ‘This ad is going to go down as the most shameful, disgusting, offensive ad this election season’
Political communications expert discusses Vivek Ramaswamy's controversial ad
NPR's Steve Inskeep speaks with political communications expert Jacob Neiheisel from the University of Buffalo about Vivek Ramaswamy's controversial ad.
Ramaswamy's ad goes too far weaponizing family in politics
The actions of the campaign of Ohio Republican gubernatorial hopeful Vivek Ramaswamy are disgraceful and continue a progressively nasty tradition of perpetuating gutter politics at any cost, even to the point of dragging an opponent's family trauma into the public square.
Political experts weigh in on Ramaswamy-Acton ad controversy
A controversial new ad from Vivek Ramaswamy’s campaign is drawing backlash for featuring the mother of Democratic gubernatorial candidate Amy Acton and calling
Video: Ramaswamy Backs Controversial Ohio Political Ad After Backlash
An ad from Vivek Ramaswamy, the Republican candidate for Ohio governer, shows the mother of the Democratic candidate, Amy Acton, calling her estranged daughter a liar.
Firestorm over US political ad featuring Democrat's estranged mother
Vivek Ramaswamy, the Republican candidate for Ohio governor, faced a firestorm of criticism Wednesday over an ad featuring Democratic rival Amy Acton's estranged mother, whose husband was charged with...
‘Stop whining’: Vance defends controversial Ramaswamy ad
Vice President JD Vance on Wednesday defended a controversial campaign ad in Ohio’s gubernatorial race that has exploded across the national political landscape, and instead castigated fellow Republicans who have pushed back on the ad.
Vivek Ramaswamy’s Amy Acton Attack Ad Is ‘One of the Most Despicable Things’ Chris Hayes Has Seen in Politics
Chris Hayes condemned a controversial attack ad targeting Ohio Democratic gubernatorial candidate Amy Acton, calling it "despicable"
As Ohio attack ad backfires, Vivek Ramaswamy doubles down
The Republican candidate for governor is airing an ad featuring his opponent’s estranged mother despite bipartisan pushback.
Vance says he’s ‘disgusted’ by GOP pushback to Ramaswamy ad featuring Amy Acton's estranged mother
Vice President JD Vance says he’s “disgusted” by the pushback from fellow Republicans to an ad Vivek Ramaswamy is running against his Democratic opponent for Ohio governor, Dr. Amy Acton. During a visit Wednesday near Cincinnati, the Republican vice president said politics is "a tough business.” ...
Amy Acton Says Vivek Ramaswamy Exploited Her Estranged Mother for Political Gain
Ohio gubernatorial candidate Amy Acton accused her mother’s then-husband of sexual assault when she was a child.
An exploding baseball and a smashed guitar. What went down at Modesto’s State Theatre
The winners of the annual MAMA Awards were announced Tuesday.
Ohio governor's race turns ugly as attack ad features candidate's estranged mother
Republican Vivek Ramaswamy released an attack ad featuring his opponent's mother calling her daughter "a liar".
‘Stop whining’: Vance dismisses Republican criticism of Ramaswamy ad
“Politics is a tough business,” the vice president charged on Wednesday.
Ramaswamy attack ad featuring Amy Acton's estranged mother garners backlash
Vivek Ramaswamy's recent attack ad featuring Amy Acton's estranged mother has drawn the ire of political pundits on both sides of the aisle.
Calinos Entertainment Celebrates New Season with 21 New Series
The new slate includes the dramas Love in the Ashes and Salted Love; the limited series Between the World and Us, Runaway, and The Choice; daily drama
Marshall faces final debate in fight for political life
In today’s issue: Marshall, Hamilton meeting in final debate Trump unveils fraud whistleblower program Big midterm spending in final weeks Backlash to controversial Ramaswamy ad Sen. Roge…
Becerra's time in Washington: Steady rise with a bumpy final ascent
In his more than 25 years in Washington, Xavier Becerra built important alliances and amassed power on Capitol Hill, but had some stumbles along the way.
Ramaswamy use of Amy Acton's mom vilest thing I've seen in 35 years of politics
Michael Coleman: Vivek Ramaswamy's disgraceful use of Amy Acton's mom shows he deserves no one's respect.
‘Anyone behind it should be ashamed’: Political commentator slams new ad from Vivek Ramaswamy
Criticism grows over Ramaswamy attack ad featuring Amy Acton's mother
Several Ohio politicians have taken to social media to condemn an attack ad against Amy Acton that featured her estranged mother.
Vivek Ramaswamy ad features opponent’s estranged mother
Ohio Republican gubernatorial nominee Vivek Ramaswamy backs controversial political campaign featuring his Democratic opponent Amy Acton’s estranged mother.
Attack Ad Featuring Candidate’s Mother Turns Ohio Governor’s Race Even Uglier
A Republican ad features Amy Acton’s estranged mother calling her daughter a liar. The two have not spoken since Dr. Acton’s mother backed her husband after his arrest on rape charges.
Vivek Ramaswamy gets a political education in a grueling Ohio governor’s race
Vivek is attempting a rare route in politics, going from national notoriety as a presidential candidate to running for state office, eschewing his hard-charging and provocative tone during his presidential campaign. He’s making his pivot during an election cycle where headwinds are blowing against all kinds of Republicans. It hasn’t been easy.
Israel prepares for a high-stakes election
Israel holds an election on October 27th, electing members of the Knesset, their parliament. And this election will decide the future of Prime Minister Benjamin Netanyahu.It is the first vote since Hamas-led attacks of October 7th, 2023 and the Gaza war. And a major question shaping the elections is whether the prime minister should be held responsible for the Hamas attacks. We go to Israel, to hear how Israelis are thinking about this election.Support public media with NPR+ and enjoy perks for over 25 podcasts like this one. This show’s perks include sponsor-free listening. Learn more at plus.npr.org.
Trump endorses embattled Israeli Prime Minister Benjamin Netanyahu for reelection
Israelis are set to vote Oct. 27, in the first national elections since Hamas attacked Israel on Oct. 7, 2023.
How AI is reshaping microdramas as video format takes a ‘generational jump’
Microdrama industry insiders share effects of recent AI advances, from aiding editing to replacing actors. Is it a useful tool or a curse?
Clackamas County's mental health has worsened
About 55,500 adults in Clackamas County say their mental health was not good on at least 14 of the last 30 days, according to the newest county estimates from the […]
Voting time short for MAMA Awards. Modesto prepares to celebrate its best in music
This marks the event’s 27th year celebrating local music and entertainment.
Huanyu Entertainment Showcases New Productions at 42nd MIPCOM Cannes
The 42nd MIPCOM Cannes opened October 12 at the Palais des Festivals in Cannes, France, focusing on branded entertainment, AI-generated content, microdramas and vertical video. Huanyu Entertainment presented new productions, including Shadows of Desire and Echoes, and participated as a lead partner in the October 14 AI Entertainment Forum, discussing AI content monetization.
Paʻūpili Lahaina 3rd Saturdays brings music, culture and community together on Oct. 17
The spirit of community continues to thrive in Lahaina as Paʻūpili Lahaina 3rd Saturdays returns on Saturday, Oct. 17, 2026, from 10 a.m. to 5 p.m. at Lahaina United Methodist Church. The free, family-friendly gathering invites residents and visitors to spend the day enjoying Hawaiian culture, live music, hands-on activities, and opportunities to reconnect with friends, neighbors, and the greater Lahaina community.
NBC Nightly News anchor Tom Llamas visits Detroit as Michigan Senate race draws national attention
With Election Day approaching, Michigan is once again at the center of the national political spotlight, and NBC Nightly News anchor Tom Llamas is bringing his broadcast to Detroit.
Inside the ad model behind Issa Rae’s microdramas—and why Poppi and Sol de Janeiro are buying in
As microdramas gain traction as an entertainment format, Issa Rae’s media company, Hoorae, is pitching advertisers on its short-form series as media buys, not social media campaigns.
MIPCOM Cannes Attendance Dips as AI, Creators and Vertical Dramas Reshape Global Entertainment Market
CANNES, France — Attendance at MIPCOM Cannes was down this year, but the world’s largest international television market is undergoing a transformation that organizers say reflects the dramatic changes sweeping through the global entertainment business. MIPCOM Cannes 2026 drew 10,100 delegates from 104 countries, down from approximately 10,600 attendees from 107 countries last year. The … Continue reading "MIPCOM Cannes Attendance Dips as AI, Creators and Vertical Dramas Reshape Global Entertainment Market"
Kevin Hart's Hartbeat Inks Deal With Fox Entertainment For Vertical Content, Microdramas
Fox Entertainment and Hartbeat announced a multi-faceted partnership that leverages new, original vertical series as a development pipeline for film and television content. The partnership pairs Codeblack’s record of building film and television businesses for underserved audiences with Fox Entertainment’s studio operations, worldwide sales organization and growing vertical video ecosystem. It also extends vertical storytelling … Continue reading "Kevin Hart’s Hartbeat Inks Deal With Fox Entertainment For Vertical Content, Microdramas"
Politics at ACL Fest: Which artists spoke out?
While many headliners stayed quiet, several artists used their ACL Fest sets to comment on the Israel-Hamas war, the tactics of ICE or the U.S. Senate race in Texas.
Fox Entertainment, Hartbeat Test Microdramas for Film, TV Adaptation
Under the pact, the most successful vertical series produced by Hartbeat labels will be developed into more traditional entertainment formats.
CeramiCafe will expand its paint-your-own pottery business to Bend
BEND, Ore. (KTVZ) -- Are you looking for a creative way to spend time with family and friends Happening next, a new paint-your-own pottery business is coming to Bend! CeramiCafe, which started in Clackamas back in 2002, is expanding to Central Oregon. The business made the announcement on social media, saying plans are in the
The hostage deal that never was: Netanyahu's political calculations and the price paid
Analysis: A July 2024 hostage deal had the backing of both Israel and Hamas, but negotiations collapsed; as new details emerge, questions mount over Netanyahu's coalition maneuvering, political motives and the devastating cost to hostages and their families
Vurt wants you to look at vertical videos as a genre of their own
Vurt is bringing vertical microdramas to widescreen TVs.
Now everyone is starting to look into the Bahamas, or …
Now everyone is starting to look into the Bahamas, or …
Vietnamese Horror ‘Arithmadtic’ Leads Bee Entertainment’s Busan Slate
Vietnam’s Bee Entertainment brings Dark Academia horror ‘Arithmadtic,’ three more 2027 features and three long-form dramas to Busan market.
Long Island commemorates third anniversary of Oct. 7 attacks
Earlier this week, commemorations were held across Long Island to mark the third anniversary of Oct. 7, 2023, Hamas attacks in Isreal. Synagogues and organizations held programs where people gathered to reflect and find strength in community.
Once Focused on Combat Sports, DAZN Expands to MLB, NBA Teams
The streamer has quickly amassed a large collection of team rights.
Fox Global Keys on Content Creators, Microdramas With Mipcom Slate
Fox Entertainment Global Keys on Content Creators, Microdramas With Diverse Mipcom Slate.
Muramasa: Revenant Blades hands-on gameplay preview
Recently, I had the chance to visit Marvelous at its Shinagawa headquarters for a one-hour preview of its upcoming Vanillaware side-scrolling action RPG remaster Muramasa: Revenant Blades. As a dis…
Preview: 'Muramasa: Revenant Blades' Polishes Vanillaware's Gem To Shine Brighter Than Ever
Reforged
Is Pessimism Surrounding Wizards Head Coach Brian Keefe Deserved?
After amassing just 34 wins over the last two seasons, does Washington Wizards head coach Brian Keefe have something to prove in 2026-27?
Arkansas political leaders host remembrance ceremony to honor victims of October 7th, 2023 attack in Israel
Three years ago today, Israel experienced the deadliest terrorist attack in the nation's history, when Hamas and allied militant groups launched an attack and invasion that killed approximately 1,200 Israeli's, and resulted in 251 being taken hostage.
How has Oct. 7 reshaped Israeli politics?
The Oct. 7 attack on Israel by Hamas has forced Israeli Prime Minister Benjamin Netanyahu to fight for political survival ahead of elections later this month.
Will AI kill the Asian entertainment industry, or reinvent it?
Studios in China are turning to models from ByteDance and Kling to generate 100-minute short dramas for less than $3000.
Will AI kill the Asian entertainment industry, or reinvent it?
Studios in China are turning to models from ByteDance and Kling to generate 100-minute short dramas for less than $3000.
naoo Expands Social Media Platform With Professional Entertainment
Eight Microdramas and Short Series Mark the Start – New Streaming Functionality Already Integrated and Currently Being Tested ZUG and ZURICH, SWITZERLAND - October 6, 2026 (NEWMEDIAWIRE) - naoo AG (Dusseldorf: Ticker: NAO; ISIN: CH1323306329), ...
Family behind 'The Bold and the Beautiful' is trying out microdramas
The Bell family, behind "The Bold and the Beautiful" for nearly 40 years, is making microdramas on the soap's own set during its dark weeks.
“We’re in the entertainment business. If someone uses Suno to write a lyric, it’s not a high crime or misdemeanour”: Joe Bonamassa has sympathy for up-and-coming artists using AI to get an edge
But AI ‘artists’ shouldn’t be in the same chart as humans, he says
Choosing Between Good And Evil: The Omega Seamaster Diver 300M James Bond And Spectre Collection
✓ Introducing the Omega Seamaster 300M James Bond And Spectre Collection ✓ A tough choice between good and evil ✓ Check it out ✓
Introducing: The New Omega Seamaster Diver 300M James Bond & Spectre Editions (Live Pics)
The brand commemorates this year's James Bond Day with some special new Seamasters.
Josh Allen held in check by New England
Josh Allen amassed 257 total yards and two TDs in Week 4, but it wasn't quite enough in a home loss to the Patriots.
How Americans’ Financial Health Is Faring In The “K-Shaped” Economy
Hey all, Jason here. Money20/20 is still two weeks away, but I’ve already started packing (not procrastinating for once!). My calendar is already filling up with various sessions I want to catch, meetings, and of course happy hours, dinners, and other side events. If you’ll be in Vegas and want to catch up, let me know by replying to this email, and we can try to find a time amidst the chaos of the Venetian. A big if not totally unexpected piece of news dropped on Friday: the Independent Community Bankers of America, a trade group that represents smaller U.S. banks, filed a lawsuit against the OCC and Comptroller Jonathan Gould, arguing that the regulator’s move to grant trust bank charters to firms seeking to use them to conduct substantial non-fiduciary activities exceeds the authorities granted to the OCC by Congress. I haven’t had time to fully digest the legal filing or speak to folks in my network about it, but you can expect to see coverage and analysis on it in next week’s newsletter. Subscribe or Support by Upgrading The NerdCon agenda just dropped. It’s stacked. Partner content: Nubank built an AI-first bank. Chime built its own banking core. Figure and Valon are rebuilding the mortgage stack. At NerdCon, you’ll hear from the people behind those bets: what they chose, what they learned, and what they’re still figuring out. The agenda is live, with leaders from Nubank, Chime, OpenAI, Remitly, Mercury, Figure, Valon and more. Follow the mainstage conversations, bring the problem your team is wrestling with to a hands-on workshop, or pull up a chair at a roundtable. Pick your quests. Meet us in San Diego, November 18–20. Fintech Business Weekly readers save 20% with code FBW20. Explore the Agenda Things To Know & Other Good Reads Federal Reserve Board finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements (Federal Reserve Board of Governors) FDIC Announces Conclusion of Independent Monitorship (FDIC) Modernizing Financial Regulation: Initial Observations from eSLR (Fed Vice Chair for Supervision Michelle Bowman) The Data Version of Godzilla versus Kong: FRED Takes on AI (Fed Governor Christopher Waller) Financing the AI buildout (Brookings) Q3’26: Rules for Banks but Not for Crypto (Fintech Takes Banking) The Inevitability of Local Stablecoins (Lombard Notes) Delusions of AI Governance: The Human-in-the-Loop Comfort Blanket (Fintech Snark Tank) Stripe agrees to acquire Parafin to expand revenue opportunities for platforms and help small businesses grow (Stripe) Listen: Fighting Fraud in the Age of AI, with SEON’s Tamas Kadar (Fintech Business Weekly) How Americans’ Financial Health Is Faring In The “K-Shaped” Economy If there is one overarching theme across the economy and politics in the U.S. at the moment, it’s “affordability.” The term is vague enough to encompass a panoply of factors shaping Americans’ day-to-day lives: rising costs for the hallmarks of being “middle class,” including healthcare, housing, childcare, and education, inflation and rising interest rates, and a job market with the specter of AI hovering over it. At the same time, policy shifts under the Trump administration have resulted in reduced subsidies to those who get health insurance under the Affordable Care Act and new restrictions on qualifying for Medicaid and SNAP, the impacts of which have yet to be fully felt. These factors are contributing to declining consumer confidence and general dissatisfaction with the economy, despite continuing GDP growth and stock market records. This divergence is encapsulated in the idea of the “K-shaped” economy, in which a small proportion of Americans have seen their wealth balloon, while the majority of American households struggle to preserve the lifestyle they have. Perhaps the greatest determinant of which branch of the “K” a household is on is whether their wealth and income are primarily derived from employment vs. from assets. Nearly two decades of low interest rates and, more recently, elevated rates of inflation have benefited asset owners, while those whose income is primarily or solely derived from labor have largely seen real purchasing power stagnate or decline. This is reflected in recent Bureau of Labor Statistics data showing that labor share of U.S. GDP — the fraction of economic output that accrues to workers as compensation in exchange for their labor — dropped to just 52.8% in Q2 2026, the lowest since the BLS began keeping records. In 1947, approximately 2/3rds of economic output accrued to workers; even as recently as 2001, labor’s share of GDP was 64.1%. Against this backdrop, we’ve seen the rise of more credit and credit-like products: cash advance apps, “no-fee” overdraft, earned wage access, and buy now pay later, which are often used as small-dollar short-term borrowing mechanisms to meet immediate consumption needs or pay other bills (eg utilities, cell phone, other debt payments). With the markers of a middle class existence and, increasingly, basic financial stability seemingly out of reach for many, it should be no surprise there’s been an increase in “financial nihilism,” something industry peers like Alex Johnson and Frank Rotman have discussed and analyzed the roots of. The explosion of gambling and gambling-adjacent products and services — often marketed under the guise of being an “investment” — is inextricably intertwined with the rise of financial nihilism. Crypto, sports betting, and, more recently, prediction markets offer an escape or even hope of sorts, like a contemporary, digital version of a scratch-off lottery ticket, while leaving the overwhelming number of people who use such products worse off. Share of Households That Are Financially “Vulnerable” Ticks Up The Financial Health Network’s 2026 Financial Health Pulse® report adds context on how American households are faring. (I linked to this report in last week’s newsletter, but wanted to take time to further unpack the data in the report this week.) The Financial Health Network publishes the report annually, providing insight into how Americans’ financial circumstances are changing over time. The 2026 report is derived from a survey fielded in April and May 2026. The report leverages survey responses to assess indicators of financial health across spending, saving, borrowing, and planning/protecting and to determine a zero to 100 “FinHealth” score. Those with scores between 0 and 39 are considered “Financially Vulnerable,” consumers with scores ranging between 40 and 79 are defined as “Financially Coping,” and those with scores of 80 to 100 are “Financially Healthy.” The report found that moderate improvements in 2025 were reversed, with the share of respondents considered financially “vulnerable” rebounding to 17%. The longitudinal data reflect the impact of pandemic-era programs, like expanded unemployment, cash stimulus payments, and pauses of federal student loan payments. The positive impacts of those programs, as reflected in the Financial Health Pulse reports, had largely disappeared by 2023. While pandemic-era inflation — to be fair, in part caused by the various support and stimulus measures — had come down from as high as 9% in 2022, it has rebounded since the start of Trump’s second term, with tariffs and energy market disruptions owing to the war in Iran pushing prices back up. Specific indicators in the survey that deteriorated from 2025 to 2026 include the share of respondents spending less than their income over the past 12 months, the share paying all bills on time over the past 12 months, the share that have a manageable amount or no debt, the share that are “moderately” or “very” confident their insurance is adequate to cover them in an emergency, and the share that “somewhat” or “strongly” agree that their household plans ahead financially. Unsurprisingly, lower- and moderate-income households are more likely to struggle to pay their bills on time and have any funds leftover to save. The share of low-income households whose income exceeded their spending dropped from 35% in 2025 to 31% in 2026, while the share of upper-income households whose income exceeded expenses remained unchanged at 63%. Households with student loans or revolving credit card debt reported having “a bit more” or “far more” debt than was manageable at rates far higher than those not carrying these types of debts. The share of those with student loan debt indicating their debt load was too high to manage increased from 50% in 2025 to 55% in 2026, while the share of those with revolving credit card debt saying the same ticked up from 51% in 2025 to 54% in 2026. Households that had student loans were markedly more likely to be financially “coping” or “vulnerable” vs. those without student loans. In 2026, 27% of households with student loans were considered financially vulnerable, a jump of 6% points vs. 2025. Households without student loans saw just a 1% point increase (not statistically significant) in those considered financially vulnerable. Households’ perception of the affordability of categories of goods and services paints a stark picture, with less than one-fourth considering higher education affordable, about a third deeming childcare affordable, and less than half viewing healthcare as affordable. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. Paying subscribers enjoy: access to the entire archive of nearly six years of newsletters extended versions of the weekly newsletter, with additional content and analysis and (for founding member tier) quarterly personal 1:1 fintech Q&A / strategy calls with me, tapping into my unparalleled knowledge of the intersection of banking and fintech and experience working in the sector, including helping to launch Goldman Sachs’ retail bank Marcus Support Fintech Business Weekly You can also support Fintech Business Weekly by sponsoring a newsletter or podcast, putting you in front of 93,000+ of the most influential decision makers in banking, fintech, and crypto. Learn more about sponsor opportunities or request a media kit by dropping me an email. Democratic Senate Report Highlights How Iran Uses Tether to Evade U.S. Sanctions Iran uses stablecoins, specifically Tether, to evade sanctions, fund regional proxies, and to purchase military drones, a report released last week by the Senate Permanent Subcommittee on Investigations says. The report was authored by committee ranking member Senator Richard Blumenthal (D-CT) and the minority staff. Crypto and stablecoin proponents will often push back on criticism that criminals make use of these assets by arguing that, on an absolute dollar basis, far more illicit funds flow through traditional banking systems and payment rails than via crypto and stablecoins. And while that is likely true, it elides the reality presented in news story after news story: whether state actors — Russia, Iran, North Korea — or criminal groups, those looking to engage in illicit transactions increasingly favor stablecoins and, specifically, Tether (USDT). The report from the Senate Permanent Subcommittee on Investigations released last week adds context to how Iran uses Tether has a lynchpin in its shadow banking system. The report analyzed 846 wallets that have been sanctioned or targeted for seizure, finding that 84% of them transacted exclusively or primarily in Tether. The ability to create near limitless, anonymous wallets and to move funds effectively instantaneously and irreversibly have made crypto a favored financial mechanism for bad actors. Stablecoins solved key drawbacks of bitcoin, namely, the original cryptocurrency’s highly volatile value in dollars. And while Tether (the company) has the technical ability to “freeze” or destroy funds, the company is often limited and reactive in its approach to doing so, the Senate report argues. Tether, which is nominally based in crypto-friendly El Salvador, “has stated that its compliance with OFAC sanctions is ‘voluntary’ and that it follows ‘OFAC guidelines,’” the Senate report says. Owing to these favorable attributes, Tether “became a primary cryptocurrency for Iran, Hamas, Hizballah, and the Houthis beginning in 2023 and has expanded in scale since,” according to the report. Tether’s role in Iran’s shadow banking system, the report says, is enhanced by crypto exchanges like Bybit, Kyrrex, OKX, Gate, and Binance, and through “over the counter” exchanges and hawala networks. The consequences of these financial flows aren’t hypothetical. The Senate report links Tether as a funds transfer mechanism to Iranian proxies in the region, including Hizballah, the Houthis, and Hamas. Tether has also been used to make payments to secure components necessary to manufacture drones, the report says. The report concludes by arguing that “[s]tablecoin issuers with a significant nexus to the United States, particularly those that offer dollar-denominated stablecoins, should be subject to American sanctions law rather than being allowed to hide behind foreign jurisdictions.” Stablecoin issuers like Tether must be held accountable for repeated failures to prevent illicit finance and sanctions violations by law enforcement, the Department of Justice, the Securities and Exchange Commission, and OFAC, the report argues. [Paying Subscriber Exclusive] OUSD Goes Live, Make Your Own Neobank, U.S. Sanctions Russia’s A7 Network As “Transnational Criminal Organization” OpenUSD, the stablecoin issued by the Open Standard consortium that includes Stripe, Visa, Mastercard, core providers, crypto firms, and numerous banks, went live last week. Social commerce platform Whop raised eyebrows in fintech by offering creators on its platform the ability to launch their own neobanks, which the company describes as “great businesses that are easy to run,” in just 15 minutes. And OFAC and FinCEN target Russia’s “shadow banking” A7 Network — more on these stories after the paywall.
Trump, campaigning in Ohio, says the midterms will bring a ‘big surprise’
The president rallied Saturday for Sen. Jon Husted, who faces a tough race against Democrat Sherrod Brown, and for Vivek Ramaswamy, the state’s GOP candidate for governor.
Beloved Philadelphia Science Museum Closes After 198 Years
Generations of Philadelphia families walked through the Academy of Natural Sciences to see dinosaurs, dioramas, and specimens collected from around the world. After nearly 200 years, those museum door...
Tom Cruise's latest risky business
Tom Cruise doesn't play things safe. Yes, obviously, I'm referring to him hanging off assorted aircraft and other insane things he does in his cinematic stunt-o-ramas.
Tom Cruise's latest risky business
Tom Cruise doesn't play things safe. Yes, obviously, I'm referring to him hanging off assorted aircraft and other insane things he does in his cinematic stunt-o-ramas. But in his 45-year history in Hollywood, Cruise has done a lot of different roles and navigated through various reinventions.
Guide to New Orleans theater shows in October 2026
From uplifting musicals like "Come From Away" to compelling dramas like "Something Cloudy, Something Clear," the New Orleans and northshore stages are set for a diverse and captivating fall season!
Israeli Politicians Trade Barbs Over FlyDubai Attack
Prime Minister Benjamin Netanyahu’s campaign for a coming election was already dominated by discussion of the policy, military and intelligence failures leading up to the Hamas-led attacks on Oct. 7, 2023.
Zygi Kamasa’s U.K. Film Distributor True Brit Entertainment Files for Administration Due to ‘Extremely Challenging Market Conditions’
True Brit Entertainment, the U.K. theatrical distributor that launched less than three years ago, has filed for administration, a British legal process similar to Chapter 11 bankruptcy. The company, w...
UK Indie Distributor True Brit Entertainment Files for Administration
True Brit Entertainment, the UK theatrical distributor founded by Zygi Kamasa in 2023, has filed for the U.K. equivalent of Chapter 11 bankruptcy
Leonardo’s owner expands into the restaurant business with Pa'l Corazón
Hugo Leonardo came to the United States from Mexico in 2001 as a teenager, working his way through various kitchen positions in Park City until he opened his own market and taquería — Leonardo’s — four years ago to provide specialized goods to Park City’s Hispanic community. But Leonardo says his latest business venture, a Mexican restaurant in the heart of Kamas, is a lifelong dream that has finally come to fruition.
Zygi Kamasa's True Brit Entertainment Files For Administration
True Brit Entertainment, the UK distributor founded by former Lionsgate executive Zygi Kamasa, has effectively filed for Chapter 11 bankruptcy.
How do Ohio Indian Americans feel about Vivek Ramaswamy?
Ohio's Indian American community is weighing what Vivek Ramaswamy's historic governor bid could mean for representation and politics.
October 7 survivor Noa Argamani joins Israel-focused Vine Ventures
Noa Argamani survived Hamas captivity. Two years after her rescue, she's joining the Israel-focused fund Vine Ventures.
Islander’s interest in Japan turns into business
Damasius collects antiques, vintage objects and more in Japan.
Rally outside U.N. urges world leaders to take stance against antisemitism
The speakers did not talk about their stance on the Israeli government or the Israel-Hamas war.
Republican calls for Senate investigation of Trump Jr wedding paid for by Russian oligarch
Putin ally helped cover cost of renting private island in the Bahamas for wedding of Trump Jr and Bettina Anderson
Ohio governor’s race is a battle over Covid, health costs, and trust in science
The race between Amy Acton and Vivek Ramaswamy could be the election’s most direct test of where the heartland stands on health care and the pandemic.
Ohio governor’s race is a battle over Covid, health costs, and trust in science
The race between Amy Acton and Vivek Ramaswamy could be the election’s most direct test of where the heartland stands on health care and the pandemic.
Monkey business: Hundreds line up to shop UT, Roller Rabbit pajama partnership
The line of eager faces stretched nearly a quarter of a mile. Hundreds of customers, some of whom waited almost six hours, patiently anticipated the Roller Rabbit and University of Tennessee collaborative pop-up Monday morning. The two-day event brings a limited edition collection of pajamas designed exclusively for Vols, featuring the brand’s “iconic” monkey-covered pattern...
Punch and Judy Man's treasure trove up for auction
The collection features puppets, booths and props amassed by entertainer Frank Turvey.
What the rise of microdramas tells us about the entertainment industry
In the U.S., 66 million people watched one regularly last year.
US coffee chain Starbucks plans global tech centre in India
By Praveen Paramasivam CHENNAI, Sept 21 (Reuters) - US coffee chain Starbucks has signed a pact to set up a global capability centre (GCC) in the southern Indian city of
Trump says his planned arch would become a 'military complex' able to host drones and snipers
Trump has also been calling the new White House ballroom a “military complex” and arguing it is necessary for national security purposes.