By Emma Tucker
President Trump's crypto ventures pulled in an estimated $1.4 billion last year. Yet roughly two-thirds of investors who bought into his signature memecoin are currently in the red. After hearing from many of you who were puzzled by how the president profited while the average crypto investor lost money, we decided to unpack Trump's sprawling digital-asset portfolio and talk to the true believers who bet big on tokens backed by the first family.
We also pored over all 900 pages of the financial disclosure form to map out visually how his income and assets shifted.
Today's Headlines
The president came to office promising an end to forever wars. He now finds himself bogged down in talks with Iran with no end in sight.
Team USA sank Bosnia and Herzegovina 2-0 to win their first World Cup knockout game in 24 years.
Russian missiles and drones pounded Kyiv and other Ukrainian cities, killing at least 13 people and wounding more than 80.
The U.S. overall death rate fell to its lowest point on record in 2025, according to data from the Centers for Disease Control and Prevention.
Elon Musk's SpaceX has shown investors a prototype it developed for a handset-like device designed to reshape how humans interact with artificial intelligence.
Live From The Markets
Medicare now covers weight-loss drugs for some seniors, in a win for patients. For Wall Street, it isn't the immediate windfall that headlines suggest, writes David Wainer.
Read It Here First
The Anthropic Fable ban is over. But the battle over how to tame AI has just begun.
America's debate over the degree to which the federal government should control access to cutting-edge AI tools is just heating up. There is growing awareness of just how powerful they are, but little agreement over how they should be controlled. Spooked by the potential for new models from Anthropic and OpenAI to help bad actors, the Trump administration recently created a new de facto approval process. It drew lightning bolts from across the tech-policy spectrum for flipping its approach to AI oversight, moving from an earlier hands-off approach, report Sam Schechner, Meghan Bobrowsky and Amrith Ramkumar.
Dubai is planning a comeback. It won't be easy.
The city-state became one of the world's biggest, richest and gaudiest financial centers on the back of a simple idea: In a tumultuous region, it was a haven of stability untouched by the wars, geopolitics and upheaval around it. But the once-vibrant emirate unexpectedly found itself on the front lines of the Iran war. Now, Dubai is at the beginning of a postwar recovery that many regional analysts believe will be long and arduous, reports David S. Cloud.
How did once-red Colorado become fertile ground for the Democratic Socialists of America?
Coming on the heels of far-left victories in New York, the race in Colorado — long viewed as a red-leaning swing state — was seen as a test of whether Democratic socialists could gain traction outside the coasts. In the state's liberal capital, they proved they could. Now, Democrats control both senate seats and hold nearly two-thirds majorities in both state chambers, and Democratic Socialists see the state as fertile terrain. Colorado has grown quickly and become younger, but political analysts largely attribute the collapse of Republicans there to the rise of MAGA, reports Elizabeth Findell.
See The Story
Austin's million-dollar home boom is spilling over into Texas Hill Country.
Several small towns ringing Austin to the west have seen explosive growth since the pandemic. Buyers seeking less-expensive homes and more space are turning to enclaves like Dripping Springs and Spicewood, located about an hour from the city. They're part of Texas Hill Country, a region of farm and ranch towns that have long attracted city dwellers looking for a rural getaway. While local home prices have started to soften, they are still significantly higher than they were before the pandemic.
Happening Today
Bond trading will wrap up at 2 p.m. ET ahead of the July 4 holiday.
World Cup: Portugal vs. Croatia in Toronto; Spain vs. Austria in Los Angeles; Switzerland vs. Algeria in Vancouver
Economic data: The Labor Department releases the June jobs report.
Number Of The Day:
7 oz
The size of smaller beer cans and bottles, known as ponies, that are driving big business for America's top brewers. "Ponies" range in size from 7 to 9 ounces, smaller than the typical 12- or 16-ounce cans and bottles sold in packs across the U.S. The concept of putting beers in small cans and bottles goes back decades, but mini-brews are taking on new life as many drinkers cut back on their alcohol consumption and spending.
And Finally...
Bowlers have finally snapped over Wall Street's takeover of the sport.
Hostility between America's dedicated league bowlers and Lucky Strike Entertainment, the nation's largest bowling conglomerate, has been building for years. Competitive players say the company is ruining the sport with its focus on frivolous entertainment while allowing lanes and equipment to fall apart. Lucky Strike Chief Executive Thomas Shannon is incredulous. He says his strategy is crucial for bowling to survive.