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Edition · 2026-07-28
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New York Attorney General Letitia James told the Senate Permanent Subcommittee on Investigations on Monday that the proposed Digital Asset Market Clarity Act could limit state enforcement of cryptocurrency scams. She said the bill would transfer regulatory authority from state regulators to the Commodity Futures Trading Commission, which she argued could weaken state and local investigations. James noted that complaints about crypto scams in her office have tripled in the past three years. She said reported losses from those scams totaled nearly $500 million over five years. James urged Congress to require crypto platforms to follow anti‑money laundering, know‑your‑customer, and cybersecurity standards, and to conduct surveillance for suspicious activity and market manipulation. She called for legislation that would make platforms financially liable when they fail to protect customers from fraud. James also recommended banning the conversion of mixer‑linked or untraceable crypto into U.S. dollars and preserving existing state money‑transmission, commodities, and securities laws. She proposed prohibiting elected officials and recent government officials from regulating crypto when they have financial interests in the industry. The proposal remains under discussion, and its impact on state enforcement and consumer protection is uncertain.
The U.S. Senate will address a Russia sanctions bill before considering the Crypto Clarity Act, according to Majority Leader John Thune's schedule.
The Crypto Clarity Act, formally the Digital Asset Market Clarity Act, advanced in the House earlier this year but remains stalled in the Senate as lawmakers prioritize other legislative items.
Thune announced on Monday that he will pursue a series of nominee confirmations and then begin cloture proceedings on the Russia sanctions legislation on Tuesday night, a process that typically requires several days.
The Russia bill would impose sanctions on the country's leadership and introduce tariffs on trading partners; it also honors the late Senator Lindsey Graham, whose funeral this week will occupy the chamber on Tuesday and Wednesday.
The Clarity Act includes a provision that limits senior government officials, including President Donald Trump, from endorsing crypto projects; Trump has agreed to accept the restriction, while Democrats argue it does not sufficiently curb his crypto holdings.
Because the Senate can consider only one disputed measure at a time, the Clarity Act is unlikely to receive floor time before the August 8 recess, potentially moving its next opportunity to September.
In the meantime, crypto markets have shown mixed movements; Binance retained about 55% of user funds and 24% of spot trading volume in early July, reporting net inflows, while the overall market experienced outflows.
The act would need approval from both chambers and the president to become law; if passed, it would establish a regulatory framework for digital assets and could influence the implementation of the GENIUS Act and SEC and CFTC policy initiatives.
A federal judge in Minnesota granted a preliminary injunction blocking the state’s law that criminalizes prediction market operators, finding that the statute appears to conflict with the federal Commodity Exchange Act.
The law, enacted earlier this year, prohibited platforms such as Kalshi and Polymarket from offering event‑based contracts to Minnesota residents. Kalshi, Polymarket and the Commodity Futures Trading Commission filed suit in March, arguing that the statute violated the CFTC’s jurisdiction over swaps.
Judge Katherine Menendez of the U.S. District Court for the District of Minnesota wrote that the plaintiffs were likely to succeed on their express‑preemption claim that the state law is preempted by the CEA. She said the CFTC has authority over swap contracts and that the law’s application to many trades would be invalid. The judge added that refusing the injunction would cause irreparable harm to the companies.
The injunction remains in effect until a final decision is reached on the merits. The case is scheduled to proceed to trial later this year.
Johnson & Johnson has offered up to $5.5 billion to settle tens of thousands of lawsuits in the United States that allege its talc‑based baby powder causes ovarian cancer.
By · 87d ago · Source: bbc
Johnson & Johnson has offered up to $5.5 billion to settle tens of thousands of lawsuits in the United States that allege its talc‑based baby powder causes ovarian cancer.
The lawsuits, filed beginning in 2009, claim that talc containing asbestos contributed to cancer; J&J denies the allegations and has said its talc does not contain asbestos and is safe. The company stopped selling the product in the United States in 2022 and announced a shift to a cornstarch‑based formula.
The proposal would provide up to $3 billion next year with no additional payments required before 2028. Acceptance by legal representatives covering at least 95 percent of the ovarian‑cancer claims in state and federal courts is required for finalisation. Erik Haas, J&J’s vice president of litigation, said the allegations are meritless and that the settlement would allow the company to resolve the matter and refocus on its core mission of developing medicines and medical devices. J&J also noted that its former consumer‑health subsidiary Kenvue, which owns brands such as Band‑Aid, Listerine and Calpol, assumes liability for the talc products outside North America after its 2022 spin‑off. Earlier in July, a federal court had questioned individual plaintiffs’ ability to demonstrate that talc was the direct cause of their ovarian cancer. Talc is a mineral composed of magnesium, silicon, oxygen and hydrogen, and is often found in deposits adjacent to asbestos, a known carcinogen. J&J reiterated that independent studies show talc is safe, does not contain asbestos and does not cause cancer.
The settlement remains subject to court approval and the timeline for payment has not been finalised.
Fanatics announced on Monday that it has agreed to acquire Water Street Labs and CX Clearinghouse from BGC Group, gaining ownership of a federally regulated exchange and clearinghouse. The transaction, which includes the ability to list and clear prediction market contracts, was reported without disclosed financial terms. The purchase positions Fanatics to create and settle its own prediction market products, giving the company greater control over product offerings and launch speed. Fanatics and BGC said they will also develop market data products that combine prediction market activity with traditional financial market data. Prediction markets have expanded rapidly in recent years, driven by regulated platforms such as Kalshi and Polymarket and by crypto companies including Coinbase and Robinhood that have integrated event contracts. Fanatics' Markets platform, launched in late 2024, operates in 23 U.S. states and four territories. Sports betting operator DraftKings announced a similar prediction market plan late last year. The acquisition reflects growing interest in prediction markets as a complement to sports betting and broader financial services.
BitMart announced that it will wind down its trading platform after nine years, with new registrations, deposits and orders halted on July 26 at 01:30 UTC and trading services ending on August 26 at 01:00 UTC before full cessation on January 31, 2027. The exchange secured an Australian Financial Services License in June and reported a 256% increase in assets under management in the first half of the year, while earlier service reductions included discontinuation of Spot Margin and suspension of its Automated Market Making Bot, presented as measures to improve security and reliability. On-chain data showed that many Ethereum and stablecoin balances tracked by Nansen were transferred out shortly before the announcement, leaving tracked wallets with limited liquid assets. Lookonchain reported that 58 wallets withdrew about $805,000 within 24 hours after the announcement and that BitMart processed no withdrawals over $25,000 for an eight‑hour period. Blockchain analysis firm Onchain Lens found no large withdrawals from retail users, market makers or listed projects during the same window. Project Paxi Network called on BitMart to release funds it said belonged to its users and market makers, demanding a clear timeline for repayment; the firm did not disclose the amount or the number of users affected. BitMart has not publicly responded to the claims. The exchange previously addressed withdrawal concerns in May, stating that restrictions applied to 239 linked accounts identified by its risk‑control system as part of an alleged exploitation of trading subsidies, while legitimate users remained unaffected, and said it was preparing a proof‑of‑reserves disclosure pending security and risk‑control reviews. During the wind‑down, BitMart recommended that users complete identity verification and close positions before August 26, 2026, and submit withdrawal requests before 05:00 UTC on that date; it added that withdrawals may be subject to additional reviews of KYC data, device login, IP address, destination wallet and blockchain transaction risk, as well as source‑of‑funds and sanctions checks. The firm warned that high withdrawal volumes, documentation requirements, network congestion and compliance reviews could extend processing times, and that a submitted request does not guarantee immediate blockchain transfer. BitMEX announced a separate shutdown scheduled for September 23, also urging users to withdraw funds before the deadline. The proximity of the two closures has renewed scrutiny of the risks associated with leaving assets on centralized exchanges, a concern highlighted by withdrawal freezes at Celsius, Voyager Digital and FTX in 2022. Analysts noted that rapid withdrawals during the 2022 collapses, which represented billions of dollars in customer funds, indicated a loss of confidence in centralized platforms, and that proof‑of‑reserves disclosures have become a standard industry response. BitMart has not indicated a liquidity shortfall, and on‑chain evidence has not confirmed one, but the speed of withdrawal processing will influence whether its shutdown remains a contained exit or contributes to broader market unease.
Empery Digital, a Nasdaq‑listed Bitcoin treasury company, sold about 1,400 BTC between May 7 and July 10, generating roughly $87 million in proceeds and using part of the funds to acquire an 8 % stake in Cardinal Data Power, a Hunt Properties‑affiliated developer, as part of a $70 million Series A intended to support a West Texas data‑center campus. The company discontinued its treasury dashboard on June 30, stating that Bitcoin‑based net asset value no longer fully reflected its total NAV, and repaid $10 million of debt with the sale proceeds while allocating cash to a Midwest property purchase, litigation expenses and operations. As of July 10, Empery held 1,514 BTC valued at approximately $73.9 million and carried $45 million of debt. The Cardinal investment closed on July 20, while a separate $65 million commitment through EMHU for a Midwest property remains contingent on due diligence and a non‑binding lease letter of intent. The pending property acquisition and lease finalization will test whether the company’s pivot to AI data‑center assets can move beyond balance‑sheet exposure while still retaining its Bitcoin holdings and debt obligations.
Marvel Studios unveiled its Phase 7 movie schedule at San Diego Comic‑Con, naming release dates for an X‑Men film, a Ghost Rider film starring Ryan Gosling, Black Panther 3, and other projects from 2028 through 2029. The schedule follows the planned release of Avengers: Secret Wars on December 17, 2027, which will conclude the current multiverse storyline and set the stage for a new MCU era. Marvel announced four confirmed dates: May 5, 2028 for an X‑Men film; July 28, 2028 for Ghost Rider; May 4, 2029 for a Shang‑Chi sequel; and July 13, 2029 for a Fantastic Four sequel. Black Panther 3 is slated for December 15, 2028, with Ryan Coogler returning as director. Additional projects mentioned include a possible Deadpool spinoff, an X‑Force film, Blade, Thor 5 and a third Doctor Strange movie, though no release dates have been assigned. Kevin Feige said the Phase 7 lineup is intended to shift the MCU’s focus toward mutants, supernatural characters and Wakandan storylines, representing a thematic transition after the Secret Wars event. The release dates remain tentative and subject to change, and the studio has not clarified how the post‑Secret Wars timeline will incorporate these characters, leaving the future direction of the MCU uncertain.
Emily Wilson, a classicist and professor at the University of Pennsylvania, published a critical review of Christopher Nolan's film adaptation of Homer's The Odyssey in the London Review of Books.
Wilson had previously examined the film's alterations to the source material and expressed concerns that the director prioritized breadth over core themes. The adaptation, released in 2023, earned $264.1 million worldwide in its opening weekend and $215.3 million in its second weekend, a 19 percent decline.
She described the film as a family‑friendly audiovisual spectacle that her teenage children enjoyed, but said it offered little narrative or emotional depth, comparing it to a fireworks display with minimal storytelling.
Wilson argued that the movie's narrative was confusing, its characters underdeveloped, and its motivations unclear, adding that the script failed to convey the poem's central concerns about time, memory, war, and the impact of a warrior’s return on his family and community.
She noted that the film lacked psychological, emotional, political, and ethical depth, that its narrative structure appeared gimmicky, and that the writing she judged to be weak.
Wilson also observed that the adaptation omitted several elements she considered essential to the original epic.
Despite her critique, she acknowledged that the film had succeeded in drawing audiences back to theaters and may encourage new readership of Homer’s work, a development she welcomed.
Box office data show the film's strong financial performance, with a global opening weekend total of $264.1 million and a second‑week total of $215.3 million.
Nolan had previously referenced Wilson’s translation of The Odyssey when speaking with Empire, indicating familiarity with her scholarship.
Whether the film will influence academic interest in the poem or prompt further scholarly critique remains to be seen.
Marvel Tokon: Fighting Souls began its public playtest on PlayStation 5 and Windows PC on July 27, 2026, attracting thousands of Marvel fans and fighting‑game enthusiasts. The test period was marked by technical problems, including a PlayStation Network outage and several hours of server maintenance that temporarily halted gameplay. Many players reported that the PC version performed poorly, with low frame rates, visual glitches, and long load times for the PlayStation Studios intro, making it difficult to maintain a stable 60 fps, a benchmark often required for fighting games. Arc System Works said it is investigating the performance issues, which some users linked to aggressive anti‑piracy measures and mandatory PlayStation Network log‑ins.
Despite the technical setbacks, players who accessed the game noted positive aspects. Social media posts highlighted flashy combos, varied character move sets, and the visual design, which was praised for its stylized animation and detailed character models. Magik emerged as a popular fighter, appearing frequently at the highest rank tier and receiving attention for her idle animation and sword‑based playstyle, a character type familiar from previous Marvel titles. The beta reached a peak of 33,233 concurrent Steam players.
Conversely, a number of users expressed disappointment with the game’s pacing. Characters’ movement speed was described as slower than in comparable tag fighters, with floaty air control and long attack recovery frames that gave the experience a sluggish feel. The tag‑fighting system, which normally emphasizes rapid mix‑ups, was perceived to limit high‑speed play through extensive cross‑up protection and slow overhead attacks. Top player Sonic Fox commented that the game “feels like I’m constantly fighting the game and I hate that.” Additionally, the input reader was reported to misinterpret certain motions, causing unintended moves.
Arc System Works indicated that it will address the technical and gameplay concerns before the official release scheduled for August 6 on PC and PS5. The outcome of those fixes remains to be seen.
This edition was assembled from neutral, agent-rewritten summaries of the day's aggregated news.
Why it matters: Every article was reviewed for loaded language, partisan framing, and missing attribution before publication.
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