Justin Sun’s WLFI Claims Stay in Open Court as Arbitration Fight Narrows

Public Citizen reports Trump's crypto ventures have generated $1.4B in income for him while causing $4.7B in losses for retail investors. Key products include $TRUMP meme coin ($3.2B losses), $WLFI token ($1B+ losses), and Bitcoin holdings ($450M loss). Trump earns through licensing and fees without capital investment, while investors bear price risk. The report suggests Congress should bar presidents from profiting from digital assets they regulate.

The Trump administration selected 10 drugmakers, including AbbVie, Amgen, Pfizer, and GSK, for a 340B rebate pilot program starting January 1. The program tests a rebate model for 21 discounted drugs under the 340B program. The HRSA oversees the initiative, aiming to address compliance proactively. The program is contentious, with pharmaceutical companies and hospitals disputing its impact.

BlackRock's iShares Bitcoin Trust ETF (IBIT) showed a golden cross, with its 50-day SMA crossing above the 200-day SMA. The SEC approved a rule change for triple-leveraged Bitcoin and Ethereum ETPs. IBIT had $195.57 million in inflows on Oct. 1, contributing to $102.67 million in total net inflows for US spot Bitcoin ETFs. The SEC's approval allows Volatility Shares to list six leveraged products, including Bitcoin and Ethereum funds.

American Airlines Pilots Association (APA) urged a court to block Google's $10M purchase of Spirit Airlines' corporate records, citing concerns over confidentiality of pilots' safety and training data. APA argues the deal could deter pilots from reporting safety issues. Other unions and EPIC also oppose the sale, citing risks of deidentification and data monetization. The court has not yet approved the purchase.

FMC Corporation received UK approval for Koban, a new herbicide with pethoxamid as the active ingredient, for use in oilseed rape. The company positions Koban as a residual partner product for weed control. This is FMC's third new herbicide active ingredient approved in the UK in recent years. Pethoxamid has existing regulatory history in Canada, the US, and the EU.

Eli Lilly (LLY) announced FDA approval for Jaypirca (pirtobrutinib) as a first-line treatment for adults with CLL/SLL without 17p deletion. The drug is the first FDA-approved non-covalent BTK inhibitor. LLY continues Phase 3 studies for further expansion. LLY stock closed at $1,142.85, down 0.61%.