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‘Crystal Lake’ star Linda Cardellini on tackling horror icon in her post-Emmy era (exclusive)
Linda Cardellini is Mother (Voorhees). The ‘Crystal Lake’ star talks about her biggest horror role to date, paying homage to Betsy Palmer’s ‘Friday the 13th’ character, and what’s next after her Emmy win.
Bigger Platforms, Same Bottlenecks: Why Consolidation Isn’t Expanding In-Network Care
This is an exclusive BHB+ article. I’ve sat through enough investor presentations to know the pitch: the mental health market is ripe for
Pull Up to 7-Eleven in Forza Horizon 6
A storefront inspired by 7-Eleven stores in Japan, a Konbini Prop Pack, an Egg Salad Sandwich Collectible, and an exclusive 7-Eleven Toyota Supra GR livery – all available in Forza Horizon 6 today.
Zelda: Ocarina of Time Switch 2 pre-orders set Amazon record, dominating GTA 6
The Ocarina of Time remake and GTA 6 should overshadow all November competition. Yet physical Amazon sales of the Zelda title are moving at an unprecedented pace. Nintendo’s Switch 2 exclusive game has sold more than 100,000 copies in the last month alone.
Joy Behar health update revealed alongside expected ‘View’ return date (exclusive)
EW has learned an update on Joy Behar’s health and when she’s expected to return to ‘The View’ after the cohost
Exclusive: At Starbucks, the future is smaller
Starbucks is on a mission to recapture its roots as a place to sit down for a cup of coffee. But it doesn’t think it needs a big footprint to deliver on that promise.
Zara Larsson Named The Trevor Project’s 2026 Mental Health Champion (Exclusive)
The Grammy-nominated Swedish pop star is being recognized for her LGBTQ+ advocacy and openness about mental health ahead of World Mental Health Day
Exclusive | Apple News hid stories about how broke the DNC is ahead of the midterms, watchdog alleges
NVIDIA Reportedly Ending the RTX 5090, Reserves GB202 Silicon for Workstation GPUs
NVIDIA has reportedly stopped allocating GB202 silicon to the GeForce RTX 5090, according to leaker MEGAsizeGPU (@Zed__Wang) on X. "No more GB202 for 5090, confirmed," the leaker posted, adding in a follow-up that "all future GB202 supplies are RTX Pro exclusive." GB202 is the largest "Blackwell"...
Chicago Fire FC Sets a New Standard for Luxury Sports Hospitality at McDonald's Park
The city’s MLS Club unveils exclusive spaces and unprecedented VIP access as part of Chicago’s next-generation stadium experience CHICAGO (Sept. 30, 2026) — Chicago Fire FC today revealed its new luxury hospitality offerings for McDonald's Park, featuring only 600 seats across exclusive areas with unprecedented behind-the-scenes stadium access, designed to
American Cancer Society and Baptist Health Announce Partnership to Expand Cancer Screening Efforts
September 30, 2026 — The American Cancer Society (ACS) is expanding its efforts to improve access to cancer screening and early detection in Southeast Florida through an exclusive partnership with Baptist Health. This effort focuses on breaking down barriers to screening, raising awareness about prevention, and helping more people access recommended cancer screening tests. “This […]
Sights of the Game: Week 4 Gameday Entertainment vs. Chiefs
Get an exclusive look at the gameday entertainment from the Raiders' regular season Week 4 matchup against the Kansas City Chiefs at Allegiant Stadium.
Exclusive: Man Utd Win Behind-Closed-Doors Match As Baleba & De Ligt Start
Sully Talkz Exclusive: Manchester United beat Lausanne-Sport 2-1 in a behind-closed-doors friendly during in the international break.
Why Bette Davis didn’t look at herself in the mirror for a year (exclusive)
After massive health problems in the 1980s, Hollywood legend Bette Davis didn’t look at herself in the mirror for a year — that is, until Robert Wagner came over.
Apple’s new ‘second-party’ HomeKit products will have this exclusive iPhone feature
Apple could showcase its new co-developed smart home accessories as soon as next week. Ahead of that, a new leak...
Scott Bakula To Headline Detective Drama In Works At CBS (Exclusive)
NCIS: New Orleans star Scott Bakula is eying a return to CBS with another procedural drama, which is in development at the network.
Why Jon Favreau ‘said yes’ to directing ‘Young Sheldon’ pilot (exclusive)
‘Iron Man’ director Jon Favreau explains in Entertainment Weekly’s exclusive ‘Young Sheldon’ excerpt why he ‘said yes’ to directing the show’s 2017 pilot episode.
8 Beloved RPGs Arrive on PS5 Today in Exciting PlayStation Store Collection
PlayStation 5 now has a bundle of RPGs with eight games from a beloved franchise, along with platform exclusive bonuses.
Seminole Tribe Sues DraftKings for Running Illegal Sports Betting in Florida - WRUF 98.1 FM | 850 AM
The battle over sports betting rights in Florida is heading to court with the Seminole Tribe defending its exclusive rights to sports gambling in the state. The Seminole Tribe is suing DraftKings and CEO Jason Robins, claiming the company violated Florida’s 2021 Gaming Compact and is operating an illegal sports betting business. Through the 2021
Exclusive: Bradford Health Services Taps First-Ever President
Alabama-based addiction treatment provider Bradford Health Services named Jason Langley as its inaugural president in a newly created role. Langley
Xbox denies reports it's acquired exclusive GTA 6 game-streaming rights, deflating hopes of playing it on PC
Xbox Cloud will not, in fact, be the only way to stream GTA 6 come November.
ESPN’s Exclusive CFP Window Closes Next Week As 24-Team Playoff Looms
The College Football Playoff has until Dec. 1 to expand for 2027.
Exclusive: Chelsea wonderkid attracting transfer interest as January decision made
Olutayo Subuloye is rising through the Blues’ youth ranks, and was recently named Under-21s captain
Sony introduces AI upscaling to base PS5; Marvel's Wolverine and Ghost of Yōtei are first games to implement new tech
PlayStation Spectral Super Resolution (PSSR) remains exclusive to the PS5 Pro, which SIE says is the "gold standard"
Kylie Jenner Bachelorette Weekend Thriller Getting Hulu Series Order From Kim Kardashian, Lauren Oliver & Kapital Entertainment
EXCLUSIVE: Kylie Jenner is set to headline and executive produce Bachelorette Weekend (working title), a thriller drama, which is finalizing a deal for a straight-to-series order at Hulu, Deadline has...
Ana Navarro reacts to question about supposed rift with ‘View’ cohost Alyssa Farah Griffin (exclusive)
‘The View’ star Ana Navarro reacted to a question about a supposed rift with cohost Alyssa Farah Griffin, a former Trump staffer whom Navarro isn’t following on Instagram and has clashed with on air.
Samsung's Galaxy SmartTag 3 works with way more Android phones than anyone realized
No longer exclusive to Galaxy and iOS devices.
American Cancer Society and Baptist Health Announce Partnership to Expand Cancer Screening Efforts
September 30, 2026 — The American Cancer Society (ACS) is expanding its efforts to improve access to cancer screening and early detection in Southeast Florida through an exclusive partnership with Baptist Health. This effort focuses on breaking down barriers to screening, raising awareness about prevention, and helping more people access recommended cancer screening tests. “This […]
Democratic gubernatorial nominee Jocelyn Benson explains her plans for Michigan
In an exclusive interview with Spectrum News, Jocelyn Benson talks about her plan for affordability and more
Kylie Jenner 'Bachelorette Weekend' Series Gets Hulu Order (Exclusive)
Kylie Jenner is set to star in and exec produce Bachelorette Weekend, a thriller drama which is getting a Hulu series order with Kim Kardahsian as EP.
Prime Video and the Television Academy announce 6-year deal to exclusively stream the Emmy Awards globally
Beginning in 2027, the Emmy Awards will stream live and free on Prime Video in more than 240 countries and territories—the first time the ceremony has had a single, dedicated home.
Gears Of War: E-Day’s Performance Could Dictate The Future Of Xbox
'Gears of War: E-Day' is out today as an Xbox console exclusive, kept off PlayStation on purpose. But whether this works or not could dictate the brand's entire future.
Pre Order Minecraft for Nintendo Switch 2
Minecraft for Nintendo Switch™ 2 launches October 27, and pre-orders are available now for the Standard Edition, Deluxe Collection, Ultimate Collection, and physical retail version. All editions include the Super Mario™ Mash-Up Pack with Vibrant Visuals, while the Deluxe and Ultimate Collections pile on even more goodies, including popular add-ons, exclusive Character Creator items, and Minecoins. Already own Minecraft digitally on Nintendo Switch™? A limited-time digital upgrade path lets eligible players pre-order the digital Standard Edition for free in most territories, or upgrade to Deluxe or Ultimate at a discount. So sound the trumpets, gather the puppies, blocks, and treats, and get ready for Minecraft on Nintendo Switch™ 2!
Inter vs. Parma: where to watch
INTER VS. PARMA, WHERE TO WATCH ON TVInter vs. Parma will be played on Saturday 10 October at 18:00 CEST on Matchday 6 of Serie A 2026/27, and will be broadcast live exclusively on DAZN. Fans can watc...
Exclusive: This Is the Fitbit Edge, Google's Next Fitness Tracker
Exclusive Fitbit Edge images show Google's new screened fitness tracker in three colors, sitting between the Fitbit Air and Pixel Watch 5.
A company built around Andre Agassi and Stefanie Graf plans one membership for club access worldwide.
Let's Play plans exclusive country licenses, anticipates hotel and resort partnerships and U.S. club acquisitions; Jonathan Fornaci was named president.
Exclusive | How Tanya Zuckerbrot lost her $40M diet empire to one troll, and the six year fight for justice
EXCLUSIVE: Embrace Trump or not?; Amendment 3's carrots and sticks
Republicans damned if they embrace President Donald Trump, and damned if they don't. Amendment 3 offers tax cuts — but at what cost?
Entertainment Partners Names UK Boss For European Expansion
EXCLUSIVE: Production management and entertainment payroll firm Entertainment Partners (EP) has a new boss in Britain. Chris Gratton has today been named Executive Vice President and Managing Director...
Tenet Adds First U.S. Exclusive Commercial Lender to Business Hub and Welcomes New West Coast Business Development Manager
Toronto, Ontario--(Newsfile Corp. - October 1, 2026) - Tenet Fintech Group Inc. (CSE: PKK) (OTCID: PKKFF) (FSE: P0T) ("Tenet" or the "Company"), an innovative analytics service provider, owner and operator of the Cubeler Business Hub, today announced that New York based commercial lender Premium Merchant Funding ("PMF") has signed on to be the first commercial lender on the Business Hub exclusively dedicated to lending and extending credit to U.S. based small and medium-sized enterprises.While..
Talent Agent Amanda Glazer Joins Innovative Artists
EXCLUSIVE: Amanda Glazer, a talent agent coming off 25+ years at The Kohner Agency, has moved over to Innovative Artists Entertainment. This follows the recent layoffs affecting Kohner’s three talent ...
PS5 gets "AI-guided upscaling" a bit like PS5 Pro's, and it's available now in Marvel's Wolverine and Ghost of Yotei
AI upscaling was previously exclusive to PS5 Pro, but base PS5s are getting a watered down version, and it's available now.
Exclusive: Bradford Health Services Taps First-Ever President
Alabama-based addiction treatment provider Bradford Health Services named Jason Langley as its inaugural president in a newly created role. Langley
BCBS Downcoding Issues Impact Behavioral Health Providers in Multiple States
This is an exclusive BHB+ story. Behavioral health providers in at least three states have been impacted by downcoding actions from Blue Cross Blue
Privacy and Pilates – Inside Duchess Meghan's reported UK hideaway
Duchess Meghan has reportedly found a new exclusive hangout.
Health Brief: Exclusive | Inside the new health price transparency rules
Plus: Trump’s checks to Medicare enrollees could complicate year-end health care negotiations,
AI Chatbots Often Fail To Help Users in Mental-Health Crisis
New research shared exclusively with TIME shows chatbots are good at spotting distress, but frequently fail to refer users to resources
Democratic gubernatorial nominee Jocelyn Benson explains her plans for Michigan
In an exclusive interview with Spectrum News, Jocelyn Benson talks about her plan for affordability and more
Exclusive: Inside Trump's AI science summit
The White House is announcing more than $1 billion in industry commitments.
Exclusive: Altro Health raises $7M for peptides
Investors continue to show a willingness to back peptide plays despite regulatory uncertainty.
Exclusive first look at the return of “A Few Good Men” to the Broadway stage
Bradley Whitford, Tom Blyth, and Krysta Rodriguez headline the highly-anticipated revival.
Netflix’s Summer of Bummer
(Welcome to the Entertainment Strategy Guy, a newsletter on the entertainment industry and business strategy. I write a weekly Streaming Ratings Report and a bi-weekly strategy column, along with occasional deep dives into other topics, like today’s article. Please subscribe.) Today, I’ve got a guest post from longtime friend of the newsletter, Brandon Katz. I’ve been trying to find time all summer to look at Netflix’s straight-to-streaming film slate, but between a pre-planned trip and Nielsen moving up their streaming data timeline, I’ve been swamped. So I reached out to Brandon, one of my favorite fellow analysts, to write about it. And I feel like he captured the tone and data focus of the newsletter perfectly. You can connect with Brandon on LinkedIn and Twitter. Enjoy! Don’t worry, folks. You’re in safe hands with me. To ease any anxieties about an interloper in ESG’s domain, I’ll start by stealing one of his best framing devices: headlines. Box office flops are covered in the same way the Teenage Mutant Ninja Turtles eye pizza: with cartoonish insatiability. I would know. I’m a former reporter who wrote nearly identical headlines: Yet, intentionally or not, streaming misses get treated with kids gloves, filtered through a rosy lens: In the last six years, U.S. streaming viewership has become nearly as transparent as the box office, but the data often arrives weeks later, in a number of less intuitive metrics, and with nary an official budget to be found. This plays into the Wall Street-whispering narratives major streamers have been cultivating for years. They get a pass in a way that theatrical studios simply don’t. Subscribe Netflix’s Summer Slate Not a single Netflix original film released between May and August this year opened above 20 million U.S. TV hours, per Nielsen. That benchmark usually serves as the EntStrategyGuy’s floor for a streaming hit on Netflix. None of these films enjoyed a hit-cementing single week of 20-plus million hours during their runs. Netflix’s two best films were true crime docs, Maternal Instinct (16.5 million hours) and The Crash (19.7 million), the best overall week for a film this summer. Great for most other streamers, but not necessarily what we’re used to seeing from Netflix. For an overly-dramatic comparison, Happy Gilmore 2 opened last summer to around 47 million hours (celebrity cameos, baby!). Zooming out, the picture looks even worse. In 2026, Netflix’s five biggest scripted summer films posted the lowest average (28.6 million hours) and median (28.8 million hours) eight-week viewership totals of the past four years. Now, it’s unrealistic and unfair to expect Netflix to deliver a _KPop Demon Hunters-_sized hit every year. But it’s also not ideal to see the size of their hits shrinking over the last few summers. Let’s quickly run through some of the notable summer misses. Jennifer Lopez and Brett Goldstein’s perfectly fine romcom, Office Romance, fell off the charts after 20 million hours in its first two weeks. Top films usually last for four-plus weeks. Starry titles ideally don’t decay that fast either. Homegrown star Millie Bobby Brown couldn’t prevent the snappy Enola Holmes franchise from diminishing returns. At 14.3 million U.S. hours, the third film posted roughly half of what the first two films did in their first two weeks. What’s on Netflix calculated that per-day global views were down nearly 60% from the second movie. The Whisper Man did okay with more than 36 million hours over its first four weeks. But I expected a little more juice from a film featuring Robert De Niro, Michelle Monaghan, and Adam Scott. Kevin Hart’s Ladies First collected just 11.2 million hours total across two weeks. That’s a big miss for one of Netflix’s go-to stars. Plopping into the same bucket are Sunny Sandler’s Don’t Say Good Luck (10.3 million in two weeks) and John Cena’s Little Brother (17.5 million). Meanwhile, English-language originals Color Book (June 19), In the Hand of Dante (June 24) and Heartstopper Forever (July 17) never sniffed Nielsen’s Top 10 at all, despite needing only 2 to 5 million hours to land in the top ten most weeks. (By my count, eleven English-language scripted original films released between May and August did chart). It’s only fair to mention that Swapped (1-May) posted nearly 42 million U.S. hours over five weeks (the longest Netflix original run this summer) and is currently their eighth most-watched English-language film ever worldwide. Remarkably Bright Creatures (37 million, 4 weeks) and Voicemails for Isabelle (27 million, 4 weeks) weren’t bombs either. Still, overall, I think it’s fair to say this was a quieter summer season than we’re used to seeing from the market-leader. You might not realize that given the language commonly used in public analysis. The Twist Despite the starkly black-and-white tone of the coverage, here’s the twist: when many box office bombs arrive on streaming, their viewership looks a whole lot like many of Netflix’s supposedly successful summer releases. Hmm, where have we heard that one before? Masters of the Universe topped out at $65 million stateside against a $170 million budget_._ I’ll admit, Skeletor ripping sleeveless curls as a gym bro and bodyslamming Adam’s co-workers was funny. But, much to the chagrin of my bank account, my laughter doesn’t launch franchises. Yet the He-Man reboot opened to 19.6 million hours (from a Wednesday five-day opening instead of just one weekend), on par with Hoppers on Disney+ (19.4 million). It put up nearly 47 million hours over its first six weeks, bigger than all of Netflix’s summer releases. Pretty darn healthy and likely to land among the 25 most-watched movies on streaming this year. Sticking with Amazon, The Sheep Detectives just barely broke even at the box office with $133 million worldwide (and only $66 million domestic). I never expected cloven-hooved, cud-chewing mammals to be able to bring me to tears. Yet that’s exactly how I found myself at the end of this surprisingly affecting movie (#NoShame). It was likely the unexpected quality in a family-friendly film that powered its streaming over-performance. Sheep Detectives delivered a solid run for Prime video netting 26.2 million hours! How about franchise IP? Star Wars: The Mandalorian & Grogu had the lowest opening ($81 million) and lowest-grossing Disney-era live-action Star Wars film ($178 million domestic). One day before release, its Heat score (19.8%)—audiences who list their interest as a 7/7—fell behind blockbusters Wicked (21%), Superman (23%), Fantastic Four: First Steps (23%), Michael (23%), Toy Story 5 (26%) and Avatar: Fire and Ash (27%), according to Greenlight Analytics. The urgent enthusiasm just wasn’t there. On streaming, Mando opened to weeks of 12.1 million, 6.1 million and 2.7 million hours (21 million total) over its first three frames. Not the numbers Lucasfilm was hoping for nor the numbers of a streaming hit. But they’re in the same vicinity as some Netflix summer releases with $345 million at the global box office to offset a smidgen of the pain. Final Thoughts So why oh why does this nuance gap exist? Four key reasons: Data Literacy: A “$100 million opening” just makes sense. After decades of box office reporting, even casual movie fans are well-versed in the benchmarks of hits and home runs. There’s an immediate shorthand. But “16.5 million” hours doesn’t land nearly as cleanly. Despite leaps of progress, the streaming ratings era is still in its infancy compared to theatrical. The EntStrategyGuy and I met thanks to a late 2010s group chat of data nerds hungry to find a shred of certainty in nebulous streaming performance. I’m not surprised to see “No. 1 on Netflix” still getting misconstrued out in the wild. Timing: By Friday morning, we have the box office’s Thursday night previews totaled, allowing us to better project the weekend’s expectations. From there, ticket sales are reported daily. By Sunday, the film’s fate is usually finalized, at least in terms of public perception. In streaming, Nielsen recently improved its delay to…two weeks. The medium isn’t forced to contend with instant gratification as harshly. Financials: Theatrical film budgets are a mere Google away. Profit and loss is calculated in the cold and unforgiving naked light of day for all to see. But finding the vast majority of streaming exclusive movie budgets requires the forensic investigation skills of a Criminal Minds detective. Also, it’s very difficult to calculate how much revenue/value a straight-to-streaming films provides a streamer. This is why there are so few stories about streaming original movies “losing X amount of money”. On top of that, marketing budgets are far greater for theatrical movies than streaming exclusive movies, which leads to earlier and better awareness. This then translates to a wider pool of potential interest. Narrative Control: Netflix is the only major streaming service to publish weekly first-hand viewership data and annual engagement reports. Naturally, some headlines borrow their first-hand framing**.** Other streamers benefit from their comparative lack of transparency. They may occasionally announce vague performance platitudes such as Apple TV’s Mayday becoming its “biggest film debut on the platform to date over its first 18 days,” and that it ranked No. 1 with left-handed viewers in its first weekend. (Fine, I made up that second one). But, for the most part, they keep first-hand viewership shrouded in mystery to avoid bad press. Especially for outlets that demand multiple articles per day from their writers, it’s an easy (and understandable) way for some reporters to hit their daily article quota by just repeating what the streamers have told them. TL:DR version: Streaming-exclusive movies are asked to do different things than theatrical movies, but that doesn’t mean they should escape judgment. Both still need to draw enough eyeballs to justify their cost within the proper performance contexts. The more cleanly we can inject a little nuance into streaming analysis, the better we’ll understand the audience and content trends that drive this industry. And that’s what all of this is really about: knowing what audiences actually want! Brandon Katz is the Director of Insights & Content Strategy at Greenlight Analytics where he focuses on evaluating the ever-fluid media landscape to unearth understanding, opportunity and value. Greenlight Analytics is the entertainment intelligence consulting company redefining how Hollywood finds, understands, and activates audiences. Prior to joining Greenlight Analytics, he served as the senior entertainment industry strategist at Parrot Analytics, and as a full-time entertainment industry reporter covering the Xs and Os of Hollywood, most notably with TheWrap and the Observer.
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Xbox has secured exclusive GTA 6 streaming rights
The streaming rights come in November, when Microsoft is opening up access to Xbox Cloud Gaming.
“Crystal Lake” gave Jason Voorhees actor the hockey mask — but only behind the scenes (exclusive)
Callum Vinson, 12, talks about his transformation into the future masked serial killer.
“The Purge”, “M3GAN”, and more Blumhouse movies to get comic book spinoffs (exclusive)
IDW Dark creators tease what’s to come from this new partnership.
Ana Navarro addresses Rosie O’Donnell’s potential return to “The View” (exclusive)
O’Donnell previously said that she’d return for season 30, while EW later confirmed a formal ask hadn’t gone out at the time.
Exclusive Warhammer 40,000: Dawn of War 4 Space Marine Screenshots and Interview With Creative Director Jan Theysen
In this exclusive interview with director Jan Theysen, we go into detail on how the Space Marines actually work in Warhammer 40,000: Dawn of War 4.
Carson Daly returning for huge “TRL” reunion special with surprises in store — and it’s not for MTV (exclusive)
EW has exclusively learned that Daly will return to reunite with major “TRL” personalities and music stars in the original Times Square studio.
Jaguars star Travis Hunter proves himself at cornerback
Jaguars star Travis Hunter proved to be a difference-maker after playing cornerback exclusively for the first time.
Sources: Rangers can seal 'easy' Oskar Fallenius deal
Football Insider exclusive as Djurgarden winger Oskar Fallenius is in action, while Rangers manager Derek McInnes watches from a circular inset.
Google to pull back the curtain on Thompson Center transformation
In an exclusive Crain's event, Google execs will offer a behind-the-scenes look at the high-profile revamp.
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.
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