The U.S. administration is significantly tightening its immigration enforcement, with Treasury Secretary Scott Bessent pushing to restrict financial services for undocumented individuals, a strategy that accompanies a massive ICE operation in Atlanta resulting in 1,200 arrests, including over 700 individuals with prior criminal convictions or pending charges. Geopolitical tensions in the Middle East remain acute as Iran issues a list of stringent demands for reopening the Strait of Hormuz—including the withdrawal of U.S. forces and the payment of reparations—while reports emerge of an Iranian missile attack on a UAE ship. Despite the blockade, the UAE has achieved record-high crude oil exports of 4.1 million barrels per day by utilizing offshore and pipeline workarounds. Meanwhile, in domestic policy and finance, the U.S. Senate successfully advanced a major cryptocurrency bill prior to its August recess, and market analysts at Deutsche Bank noted that further momentum in European software relies on a shift toward long-only investor interest.