Author: rb809rb

  • Jito proposes permanent JTO burns through sweeping revenue overhaul

    Jito proposes permanent JTO burns through sweeping revenue overhaul

    Jito has proposed a governance overhaul that would direct 100% of the DAO’s JTX revenue share toward open-market $JTO buybacks and permanent token burns through at least Q4 2027.

    According to a governance proposal published by Jito on July 13, the protocol has introduced JIP-38, which would formally classify Jito as a token-centric network where nearly all major network revenue flows to the decentralized autonomous organization and remains under the control of $JTO token holders.

    JIP-38 is now live.

    Value should live with the Network. This proposal formally establishes Jito as a token-centric network, committing 100% of the Jito DAO’s revenue share from @JTX_trade to programmatic buyback and burns of $JTO for at least 1 year from JTX launch.

    — Jito (@jito_sol) July 13, 2026

    The proposal triggered an immediate market reaction, with Jito ($JTO) climbing as much as 8% shortly after its release, according to data from crypto.news.

    Revenue would be redirected to $JTO holders

    Under JIP-38, Jito proposes using the DAO’s entire share of JTX revenue to buy $JTO tokens on the open market before permanently removing those tokens from circulation. According to the proposal, this arrangement would remain in place for at least one year, extending through the fourth quarter of 2027.

    One exception remains in the framework. The proposal states that 20% of JTX platform fees would continue to be reinvested into JTX development rather than being allocated to buybacks and burns. Jito said the remaining major revenue streams would continue flowing through the DAO under governance controlled by $JTO holders.

    To carry out the program, the proposal calls for buybacks to be executed automatically through a Rev Splitter mechanism overseen by the project’s Dev Council. Alongside the automation process, Jito plans to update its governance documentation so the protocol’s operating model formally recognizes the token-centric structure.

    According to JIP-38, existing revenue allocation commitments would be completed before a comprehensive review of protocol fee streams takes place in Q4 2027.

    During that review, governance participants would evaluate the performance of token buybacks, ecosystem incentives, and other capital allocation methods before $JTO holders vote on the network’s next long-term revenue framework.

    Governance changes extend beyond token burns

    Beyond the buyback program, JIP-38 outlines several operational changes intended to support the new revenue structure. According to the proposal, the Rev Splitter would become progressively more automated while governance records would be updated to match the revised economic model.

    Jito also stated in the proposal that the framework is designed so value generated across the network accrues to the $JTO token instead of external corporate entities. Any future changes to revenue allocation after Q4 2027 would require approval through governance voting by $JTO holders.

    The proposal arrives as Jito continues expanding its presence across the Solana ecosystem. Earlier this year, as previously reported by crypto.news, 21Shares launched the 21Shares Jito Staked SOL ETP (JSOL) on Euronext Amsterdam and Euronext Paris.

    The issuer said the product provides regulated exchange-traded exposure to Solana through JitoSOL while embedding staking rewards, allowing investors to access the asset through traditional brokers and banks without managing wallets or staking infrastructure.

    Institutional support for the protocol has also grown over the past year. As previously reported by crypto.news, Andreessen Horowitz’s (a16z) crypto division invested $50 million in Jito to help expand the Solana staking protocol’s ecosystem.

    The investment included an allocation of $JTO tokens to the venture firm, adding another high-profile backer as the protocol seeks approval for its latest governance proposal.

  • Bolivia Weighs Adding Tether’s USDT to National Payments After Lifting Crypto Ban

    Bolivia Weighs Adding Tether’s USDT to National Payments After Lifting Crypto Ban

    Bolivia’s government has begun exploring the possibility of integrating Tether’s $USDT stablecoin into the national payments system, a move that would have been unimaginable just two years ago when the country maintained one of the strictest total bans on cryptocurrency activity in the hemisphere. According to the original report, this policy shift comes after crypto transaction volumes jumped to $430 million in the year following the central bank’s decision to remove restrictions in mid-2024. The figure signals a rapid reorientation of everyday financial behavior in a country where traditional banking access remains uneven and confidence in local monetary instruments is fragile.

    The number isn’t just a headline—it reflects actual settlement flows in a dollarized informal economy that has long relied on physical cash and unregulated exchange houses. Stablecoins like $USDT already function as de facto digital dollars across many emerging markets, but Bolivia’s consideration of a formal government-endorsed integration would be a first. It would place a sovereign payments apparatus squarely on top of a privately issued stablecoin, a concept that blurs the line between state-sanctioned rails and permissionless digital currency protocols.

    The Road from Ban to Boom

    Bolivia’s relationship with crypto was aggressively hostile for nearly a decade. In 2014, the financial regulator issued a blanket prohibition on any cryptocurrency use, citing risks to monetary sovereignty and consumer protection. Banks were forbidden from facilitating crypto transactions, and even private peer-to-peer trading operated in a legal gray zone that exposed users to enforcement risk. That stance held firm even as neighbors like Argentina and Brazil saw explosive stablecoin adoption.

    Then, in mid-2024, the central bank abruptly lifted the restrictions. The reversal wasn’t accompanied by a lengthy public debate or a major legislative overhaul—it was an administrative policy update. But the effects were immediate. Within twelve months, $430 million in crypto volumes moved through the economy, much of it channeled through $USDT on low-cost layer-1 networks. The demand wasn’t speculative. It was transactional. People were paying for services, settling invoices, and moving remittance money across borders without using the conventional banking corridor.

    The government’s current exploration of $USDT integration is being treated as a natural next step. It mirrors other recent crypto payment integrations in emerging markets, such as Sui’s partnership with Nigerian fintech Paga, which aims to bring digital assets into everyday transactions for a population familiar with mobile money but excluded from dollar-denominated banking. Bolivia’s path is less about technology hype and more about practical necessity: the boliviano’s long-term depreciation has made foreign currency a household survival tool, and $USDT offers a digital bypass.

    Why Tether’s $USDT Specifically?

    Tether dominates the stablecoin market in Latin America not because of marketing campaigns but because it’s already the preferred dollar substitute in informal economies. In Bolivia, users aren’t trading exotic derivative products; they’re using $USDT on mobile wallets and peer-to-peer platforms to store value and move money. The coin’s liquidity depth and wide exchange support mean a street-level vendor in La Paz can accept a $USDT payment and convert it locally with minimal friction. No central bank digital currency prototype has achieved that kind of organic penetration in the region.

    The proposal being studied would elevate $USDT from a parallel tool to a recognized component of the national payments system. That would mean payment processors, utility companies, and possibly tax collection systems could be wired to accept or settle in $USDT. For a government that still struggles to maintain a unified exchange rate and grapples with dollar scarcity, this could stabilize daily commerce. But the legal architecture is untested. Tether is a private issuer domiciled outside Bolivia, and its reserves—while transparent—are not subject to local monetary authority oversight.

    While Bolivia’s pivot toward stablecoins remains a domestic experiment, it contrasts sharply with the ongoing regulatory battles in the United States, where banks are fighting to kill a landmark crypto bill just days before a Senate vote. The difference in approaches reveals how advanced economies and developing nations are moving in opposite directions on stablecoin regulation. In Washington, the focus is on containing perceived systemic risk. In La Paz, the calculus is simpler: millions of people are already using $USDT, and the state can either ignore it or build a bridge.

    What This Signals for Stablecoin Adoption

    The real significance of Bolivia’s $USDT exploration isn’t the $430 million figure—it’s the precedent of a government actively building infrastructure around a private stablecoin instead of fighting it. This hasn’t happened even in El Salvador, where Bitcoin is legal tender but not widely used for daily payments. If Bolivia moves forward, it would create a template for other dollarized economies: integrate what citizens already trust, and accept the trade-offs.

    The broader tokenization of real-world assets, now exceeding $20 billion on-chain, has shown that stablecoins like $USDT are foundational to the digital dollar ecosystem. But a national payments integration would move the asset class from a trading settlement layer into the real economy at scale. That brings new questions: what happens during a network congestion event? Who handles dispute resolution? And how does the government enforce anti-money laundering rules when value moves on public blockchains?

    These are not insurmountable problems, but they require a regulatory posture that Bolivia hasn’t built yet. The central bank’s initial ban was a blunt instrument; the post-2024 openness has been driven largely by market reality. Now the hard institutional work begins. Treasury officials will need to decide whether $USDT is treated like foreign currency, a payment instrument, or something entirely new. The answer will shape tax treatment, reporting requirements, and consumer protection frameworks—and it could influence how other Latin American regulators approach stablecoin policy in the next cycle.

    What remains uncertain is whether Tether itself will need to register locally or provide real-time reserve attestation specific to Bolivia’s requirements. The company has navigated similar demands in other jurisdictions, but a national payments role would expose $USDT’s operational infrastructure to direct government scrutiny in a way that peer-to-peer trading never did. How that negotiation unfolds will tell market participants whether Bolivia’s experiment becomes a model or a cautionary tale.

  • Oregon AG Drops Demand For Records & Motion To Delay Paramount-Warner Bros. Discovery Merger

    Oregon AG Drops Demand For Records & Motion To Delay Paramount-Warner Bros. Discovery Merger

    UPDATED, with comment from AG: Oregon‘s attorney general has dropped a civil investigative demand for Paramount to turn over records related to its efforts to secure federal approval for its merger with Warner Bros. Discovery.

    Oregon Attorney General Dan Rayfield also had asked a state circuit court judge to order Paramount to turn over the materials and to delay Paramount’s closing of its proposed acquisition of Warner Bros. Discovery by 60 days so the documents could be reviewed. A hearing has been scheduled for Monday in Multnomah County Circuit Court.

    A Paramount spokesperson said, “We are pleased that the Oregon Attorney General has withdrawn its motion to delay this transaction. It was the right decision and avoids an unwarranted effort to delay a lawful, pro-competitive merger.

    “Antitrust authorities around the world have carefully reviewed this transaction, clearing it or concluding that it does not violate any competition laws. That regulatory record underscores what the facts, the law and the economics make clear: this transaction will create a stronger challenger to dominant global streaming and technology platforms, expand consumer choice, increase investment in premium content and theatrical distribution, and create more opportunities for creators and workers. We look forward to completing the transaction and delivering those benefits.”

    Jenny Hansson, communications director for Rayfield, said in a statement, “Paramount made it clear that they weren’t going to comply with the investigative demand, and that they think they’re above the law. We’re not going to let them waste Oregonians’ resources on these games. We’ve withdrawn the motion to consider our next steps.”

    California Attorney General Rob Bonta and other state attorneys general are said to be considering a legal challenge to the transaction.

    Rayfield sought Paramount records of lobbying of federal officials, as well as its role in a statement that the DOJ released in support of the transaction. The attorney general also sought documents “related to the formulation and execution of lobbying strategies aimed at obtaining regulatory approval of the proposed merger, which Respond as internally named ‘Project Warrior.’”

    In a court filing, Paramount has objected to the document requests, arguing, among other things, that they impose “burdens and demands which are disproportionate” to the Oregon investigation and are “of such marginal relevance that the value of any materials sought is outweighed by the burden imposed on Paramount in having to provide such information.”

    “Lobbying activities and related communications are wholly irrelevant to whether the proposed acquisition ‘violates Oregon’s antitrust laws,’” the company’s legal team wrote.

  • Nansun Shi, ‘Infernal Affairs’ Producer and Pioneer of Hong Kong Cinema’s Golden Age, Dies at 75

    Nansun Shi, ‘Infernal Affairs’ Producer and Pioneer of Hong Kong Cinema’s Golden Age, Dies at 75

    Nansun Shi, the pioneering Hong Kong producer and executive who helped shape the territory’s cinematic golden age as the co-founder of Film Workshop and who later produced Infernal Affairs — the cult crime thriller Martin Scorsese would remake as the Oscar-winning The Departed — died Monday at Hong Kong Sanatorium & Hospital. She was 75.

    Film Workshop, the production house Shi launched with director Tsui Hark in 1984, said that she had been in declining health since 2022 due to complications affecting her immune system and that recurrent infections in recent months had resulted in “multiple organ dysfunction.” Shi died peacefully at 8:51 p.m. local time with family and loved ones at her side, the company said, adding that memorial and funeral arrangements would be announced.

    Across a career spanning more than four decades, Shi ranked among the most influential figures in Hong Kong film — a key contributor to its glorious 1980s heyday, an architect of its early-2000s revival and one of the first local producers to construct genuine international distribution pipelines for Chinese-language cinema, at a time when few of her peers looked beyond the region. She was also among the earliest Hong Kong producers to shoot in mainland China, in an era when the two industries barely collaborated.

    Born and educated in Hong Kong, Shi studied statistics and computing at the Polytechnic of North London before returning home to begin her career in television, working for broadcasters including TVB and Rediffusion in the mid-1970s.

    Her movie career began in 1981, when she joined the upstart commercial comedy banner Cinema City as executive director, overseeing administration, financing and — crucially — overseas sales and festival strategy while Shaw Brothers and Golden Harvest still ruled the local business. Colleagues affectionately nicknamed her “Housekeeper” for the way she kept the young company’s sprawling operations in efficient order. Her credits from the period include the hit comedies Aces Go Places II and Till Death Do We Scare.

    In 1984, she departed alongside Cinema City’s most ambitious young talent, Tsui Hark, to establish Film Workshop — a home for projects too idiosyncratic for their former employer’s commercial pipeline, and, in time, one of the most storied banners in Hong Kong film history. Beginning with Tsui’s Shanghai Blues (1984), its output grew to include Peking Opera Blues, A Chinese Ghost Story, the Once Upon a Time in China series and John Woo’s A Better Tomorrow (1986) and The Killer — key titles in the action canon that powered Hong Kong cinema across the globe. Shi married Tsui in 1996 and the couple divorced in 2014, but never stopped making films together.

    In 2002, Media Asia chairman Peter Lam recruited Shi as vice president, and alongside Andrew Lau and John Chong, she produced Infernal Affairs, the rigorously inventive undercover-cop thriller directed by Lau and Alan Mak and starring Andy Lau and Tony Leung Chiu-wai. The film helped revitalize a then-flagging Hong Kong industry, spawned two sequels and was remade by Scorsese in 2006 as The Departed, which went on to win the best picture Oscar.

    Shi’s later producing work with Beijing-based Bona Film Group included the Overheard thrillers, Derek Yee’s The Great Magician and Ann Hui’s A Simple Life, which won Venice’s 2011 best actress prize for star Deanie Ip. In 2007, she co-founded the international sales agency Distribution Workshop with Jeffrey Chan, which she ran until her death. Her later festival contenders included Flora Lau’s Bends, which bowed in Cannes’ Un Certain Regard in 2013.

    Through it all, Shi kept Film Workshop running as an independent banner, producing Tsui titles including the Detective Dee films, Flying Swords of Dragon Gate and The Taking of Tiger Mountain. Her final credit came on Tsui’s Legends of the Condor Heroes: The Gallants, the Lunar New Year box office hit from 2025.

    Shi served on the main competition juries of both Cannes and Berlin, and she received regular recognition from across the international film world. France named her an Officier de l’Ordre des Arts et des Lettres in 2013; Locarno presented her its Premio Raimondo Rezzonico for best independent producer in 2014; Italy’s Far East Film Festival in Udine gave her its lifetime achievement honor in 2015; the Berlinale bestowed its Berlinale Camera in 2017; and China’s Pingyao festival honored her contribution to Chinese cinema in 2019. She was also a perennial presence on The Hollywood Reporter‘s annual Most Influential Women in Global Film list.

    In 2025, the Hong Kong Film Awards presented Shi and Tsui with a joint lifetime achievement award — a final shared bow for a partnership that helped define the city’s cinema across more than 40 years.

  • New Details of David Ellison’s Support for Bipartisan Federal Film Tax Incentive Emerge

    New Details of David Ellison’s Support for Bipartisan Federal Film Tax Incentive Emerge

    It’s been clear for months that David Ellison is a supporter of the idea of a federal film tax incentive, which has been gathering support in the legislature. Why wouldn’t he be? As the head of one studio and the aspiring leader of a combined Paramount-Warner Bros. Discovery, his entertainment empire stands to benefit from the U.S. offering a stackable incentive on top of states’ individual tax credit programs.

    But on Monday, the same day that California attorney general Rob Bonta and 11 other state regulators filed suit to block the proposed $111 billion Paramount-Warner Bros. merger, new details of Ellison’s actions to support such a bill came to light beyond his former declaration of support.

    The Paramount Skydance CEO and his chief legal officer, Makan Delrahim, are meeting with Republican members of the House of Representatives’ Ways and Means Committee about a bipartisan bill on Monday night, The Hollywood Reporter has confirmed. (Politico’s Daniel Miller was the first to report on the trip.) The trip is one of several that Ellison has been making in support of the bill, a source in D.C. confirmed.

    Previously, Sen. Adam Schiff and Rep. Laura Friedman were gathering support for a federal tax incentive bill, though President Donald Trump’s enmity with Schiff was largely seen in the industry as a liability. While it was unclear on Monday night which legislators would be carrying the bill that Ellison is lobbying for, a separate source noted that Friedman and Schiff are still involved.

    While it’s not surprising that Ellison is backing the initiative, his involvement may be helpful in swaying Trump to consider the idea. Since proposing a “100 percent tariff” on movies made in other countries a couple of times in 2025, the president has been largely silent on the topic of domestic film and TV production. Still, he appears to remain interested in domestic entertainment production, in May meeting with one of his “special ambassadors” to Hollywood, actor Jon Voight and his team of Steven Paul and Scott Karol, about the federal film incentive idea.

    Trump remains friendly with David and his father, Larry Ellison, in June of 2025, calling David “great” and saying he would “do a great job” running a combined Paramount-Warner Bros. Discovery. On June 12, the Department of Justice signed off on the proposed transaction, though the lawsuit filed Monday by 12 state attorneys general throws a wrench in Ellison’s plans.

  • ‘Beast in Me’ Music Emmy Nom Questioned, But TV Academy Backs It

    ‘Beast in Me’ Music Emmy Nom Questioned, But TV Academy Backs It

    The acclaimed Netflix limited series The Beast in Me received nominations for nine Primetime Emmys on July 8, including best limited or anthology series, as well as best actress (Claire Danes) and actor (Matthew Rhys) in a limited or anthology series or movie. Another of its noms came in the category of best original main title theme music, recognizing Sean Callery, a distinguished four-time Emmy-winning composer and one of the two representatives of the music peer group on the TV Academy’s board of governors — and that one has raised some questions.

    Indeed, it was brought to the attention of The Hollywood Reporter that although Emmys rules state that main title theme music must be “at least 15 seconds in length” to be eligible for an Emmy, the longest the theme music is heard in any episode of The Beast in Me — namely, episode four — is 13 seconds.

    The rules also state: “A Main Title Theme must appear in 50 percent or more of eligible episodes. The Main Title Theme has been further defined as a musical fingerprint and calling card that is identifiable and unique to a show, thereby drawing an audience in by setting the show’s tone and what is to come.” While main title theme music does appear in a majority of the eligible episodes of The Beast in Me — five of eight — each of those five episodes features different theme music.

    (Click here to view a video comprising the theme music at the start of every episode of The Beast in Me.)

    Asked to respond to these assertions, a spokesperson for the TV Academy insisted: “The theme song does appear in 5 of 8 episodes, so it meets the 50 percent rule, and in 3 of those 5 episodes the theme song does meet the 15 second rule. In discussions with the peer group, the decision was made to accept the submission because there is no language stating which rule takes precedence when the two conflict. We do state that the submission needs to be a minimum of 15 seconds and the episode that was submitted does that, but we don’t state that the theme needs to be a minimum of 15 seconds in each episode it appears in. The Peer Group Executive Committee realizes that they need to tighten up the language before next year’s competition and they will do that in October.”

    The disputant says the TV Academy needs to check its math, emphasizing that the theme music is not heard for 15 seconds in any episode, let alone in three of them, and presenting the following specific counts:
    Episode 1 — titles start at 1:26, theme music heard for 11 seconds
    Episode 2 — no theme music; instead, “Wave of Mutilation” by Pixies
    Episode 3 — titles start at 5:12, theme music heard for 8 seconds
    Episode 4 — titles start at 2:54, theme music heard for 13 seconds
    Episode 5 — no theme music; instead, “Psycho Killer” by Talking Heads
    Episode 6 — titles start at 1:29, theme music heard for 11 seconds
    Episode 7 — no theme music; instead, “The Little Drummer Boy” by Sharon Jones & the Dap-Kings
    Episode 8 — titles start at 5:22, theme music heard for 11 seconds

    The TV Academy spokesperson countered, “Emmy eligibility is solely based on the cue sheets submitted that have been documented for each production after the episodes are completed. Based on the cue sheets, the main title theme for The Beast in Me is eligible in the category, as we originally stated. Note, the perceived timing of a viewer of the episode will not always correspond with that of the confirmed cue sheets, where sound beds and accompanying music are included if surrounding the main title. As stated, eligibility is solely based on the cue sheets.”

    But the disputant says the TV Academy is contradicting its own rules by asserting “sound beds and accompanying music are included if surrounding the main title,” given that the rules state “score bookending the title sequence are not eligible.”

    Regardless of which side of this argument one falls on, nobody is suggesting any impropriety on the part of Callery, a highly respected composer who is also Emmy-nominated this year on behalf of The Beast in Me in the category of best music composition for a limited or anthology series, movie or special (original dramatic score). Underscores the TV Academy spokesperson, “In no way, shape or form was Sean part of the submission process or the judging process.”

  • ‘Fruit Gathering’ Review: A Factory Worker Falls for Her Female Colleague in a Delicate Burmese Debut

    ‘Fruit Gathering’ Review: A Factory Worker Falls for Her Female Colleague in a Delicate Burmese Debut

    Caught between rural roots and urban opportunities, familial duty, friendship and forbidden carnal desire, young San Kyi (Nandar Myat Aung) struggles to find her place in Fruit Gathering, a sensitive Myanmar-Czechia-France co-production that just won Karlovy Vary’s top prize.

    That’s an impressive achievement for Burmese writer-director Aung Phyoe, making his feature debut after several shorts. His flair for blending realist drama with more poetic, painterly imagery makes for a dreamy, hypnotic viewing experience, eased along by a confident, open-hearted performance from Nandar Myat Aung in the lead role. Fruit Gathering will be ripe for picking at further festivals, especially ones specializing in Asian and/or LGBTQ+ fare, possibly followed by niche distribution.

    Fruit Gathering

    The Bottom Line

    Juicy but not too sweet.

    Venue: Karlovy Vary Film Festival
    Cast: Nandar Myat Aung, Nandar Myint Lwin, Tin Tin Ei, Thida Soe Khant, Wutt Yeet Kyaw, Htet Aung Lynn, Khet Suu Myat, Min Nyo, Zun Pwint Phyu
    Director/screenwriter: Aung Phyoe

    1 hour 37 minutes

    Self-transplanted with her mother (Tin Tin Ei) and grandmother from the countryside to industry-rich Yangon, San Kyi has so far managed to resist the pressure from her mom to get married or pursue a career in something upmarket like tech. Instead, eager for a job that doesn’t demand too much thinking, San Kyi works in a massive clothing factory, sewing seams all day in a ferociously noisy, scrap-strewn environment where the supervisor gets snotty if she takes a bathroom break without seeking permission first.

    Incidentally, while the factory hardly looks inviting, the conditions don’t seem to be too bad compared to those seen in older documentaries about East and South Asian sweatshops. They’re comparable to what’s on display in, say, Chinese director Wang Bing’s doc Youth but without the company-owned residential housing. At least the workers are allowed to submit petitions circulated by labor organizers requesting better pay and more safety measures, although tellingly San Kyi refuses to sign lest she might get fired for it. A union leader (Wutt Yee Kyaw) pours scorn on her for not showing more solidarity with her colleagues.

    Later, after she’s injured herself by a sewing accident, San Kyi will rethink her position on workers’ rights, but industrial relations in the textile industry are not the film’s main focus. It’s all background color, as much a part of the vivid landscape as the interludes where we see San Kyi back home visiting the mango farms and spirit-dance ceremonies of her agrarian childhood.  

    At least it’s at this factory that San Kyi meets Theint Theint Oo (Nandar Myint Lwin), a young co-worker around the same age as San Kyi with a radiant smile and street sense to burn. The two young women start out just hanging together during their lunch breaks but soon grow inseparable. The script suggests early on that Theint Theint may be the kind of pal who always forgets to bring enough cash for dinner. A darker interpretation might posit that she sees San Kyi as little more than a mark, but the truth probably falls somewhere in a grayer area.

    Either way, by the time San Kyi is buying nearly identical blouses for the two of them to wear on strolls around town, it’s pretty clear that she’s smitten with Theint Theint. The latter is ambiguously flirtatious and keen to have languid girls’ night sleepovers in the same bed, but also open about the fact that she’s got a man in the background, who is conveniently always away working in another country. Afraid of losing her new limerent object of desire, San Kyi entertains the thought of going abroad with Theint Theint to work as housekeepers or factory workers in somewhere affluent like Singapore or Malaysia.

    Clearly, things are heading for a smash up when San Kyi lends Theint Theint a substantial amount of money. Somehow the tension is heightened by the fact that Theint Theint gets closer to San Kyi’s family, even accepting a job offer that comes through the local guy whom San Kyi’s mom was trying to set San Kyi up with as a potential husband. It all serves to underscore how narrowly female relationships are usually defined in highly traditional, painfully patriarchal Myanmar society. The intense feeling between these two young women could never be openly romantic, although no one bats an eye when they walk hand and hand through the streets, much the way Queen Victoria is said to have refused to sign legislation banning lesbianism because she wouldn’t acknowledge such a thing even existed.

    Aung Phyoe suggests the messy, uncontrollable nature of desire via some slightly heavy-handed imagery of flooded apartments and generally juicy, watery, somewhat soluble imagery. But the story surprisingly shifts tack halfway through and becomes less interested in the two women’s relationship and more in San Kyi’s personal development, especially after some hard knocks change how she sees the world.

    Every so often, the camera will linger on a tiny detail like a vase that has some emotional significance, or the light coming in a window. There’s a tiny hint that these cinematic still life pictures are being seen through San Kyi’s eyes, like scenes in a book told through limited third-person point of view. Indeed, there’s a faintly literary quality to the filmmaking, as if inspired by romance and high-brow fiction, but Aung Phyoe’s touch is feathery soft, as gentle as the soft thud of a mango falling from a tree.

  • Hunter Biden, Nick Fuentes Interview Nearly Turns Physical, Report Says

    Hunter Biden, Nick Fuentes Interview Nearly Turns Physical, Report Says

    An unlikely meeting between Hunter Biden and far-right internet personality Nick Fuentes for an independent web channel reportedly veered into an argument that nearly led to a physical altercation at a Philadelphia hotel over the weekend.

    According to a report published Monday by TMZ, the meeting between Biden — the son of former Democratic President Joe Biden — and the white nationalist podcast host was brokered by Andrew Callaghan, founder and host of the gonzo video news series Channel 5, and took place in a Philadelphia hotel room. The meeting of the two men, both of whom have courted controversy in recent years, was billed as a no-limits conversation where any topic was on the table.

    The outlet reported, citing “sources familiar with the situation,” that the conversation was initially affable but soon grew tense as the men on opposite sides of the political spectrum moved to different topics. Eventually, the tension turned into an argument, and it grew so heated that Callaghan had to intervene before the situation escalated into violence.

    The interview is set to air later this month, according to TMZ. Neither Biden, Fuentes nor Callaghan has spoken publicly about the interview and what happened between the three of them.

    The Hollywood Reporter reached out to Callaghan and his public relations representative on Monday but had not received a response by publication time regarding the details of the reported altercation and what may have led the conversation to go astray. We will update this story with any further information as it is received.

    Biden is the second son of former President Biden and an artist and businessman. He has been the subject of several controversies since 2019 after becoming the target of false allegations that he asked his father to have a Ukrainian prosecutor fired to protect him from legal trouble. Biden was also convicted of three weapons possession charges for owning a gun, which was purchased in 2018 during the period he was addicted to drugs; he was disbarred as a result of the felony conviction in Washington, D.C. and Connecticut. On December 1, 2024, President Biden issued a full and unconditional pardon for his son — reversing promises to the public that he would not do so.

    Furentes has been a growing voice in the alt-right, ultra-nationalist space for several years. He hosts a livestreamed show called America First, where he has advanced white nationalism and an ideology of white supremacy. He and his followers, known as “Groypers,” have waged war on late activist Charlie Kirk and his Turning Point USA for being insufficiently conservative. In 2020, he founded the America First Political Action Conference.

    Callaghan has been at the forefront of DIY reporting since his teens, beginning with interviews of fringe dark-web figures and protest movements. He has parleyed his esoteric interview style into leading Channel 5, which he’s quickly been growing into a small but formidable empire over the past several years.

  • Why ‘Moana’ Sank With Its Box Office Opening

    Why ‘Moana’ Sank With Its Box Office Opening

    Disney‘s live-action Moana did not make the summer splash that the studio had hoped, leading to questions about not only what might be in store at the box office for the Dwayne Johnson-led title but also the potential for developing remakes of other animated favorites.

    After last year’s Lilo & Stitch had a record-breaking $183 million four-day opening weekend domestically before surpassing $1 billion in its global run, the live-action Moana appeared to represent a likely win as the summer approached. After all, the original 2016 animated movie — starring Johnson as the voice of demigod Maui who helps the titular girl (Auli’i Cravalho) save her island — has become a beloved property for families and counts as the most-watched feature on Disney+. And, of course, Moana 2 confirmed the excitement for new theatrical entries from the franchise when it hit $1 billion after its November 2024 release — although there is more to discuss with that one in a moment.

    Despite Disney anticipating an opening above $60 million domestically after third-party tracking initially suggested the film could launch to as much as $75 million, the live-action Moana was left gasping at the box office. Its $43 million opening in North America puts it in dubious company as one of the weakest debuts for Disney’s remakes and is particularly tough given its $250 million production budget. Other misfires included last year’s $42.2 million opening for Rachel Zegler and Gal Gadot’s Snow White and the $45.9 million bow for 2019’s Tim Burton-directed Dumbo, although both of those reimagined originals from generations prior and might have felt dated to younger audiences. Additionally, the live-action Snow White found itself caught up in the culture wars.

    Starring Catherine Laga’aia in the title role, the new Moana had a few strikes against it that dinged the opening. Its 34 percent approval score from critics on Rotten Tomatoes makes it among the worst-reviewed live-action updates, although the fan response has been another story, as it earned an A- CinemaScore, including an A+ from those under 18, and is “verified hot” with a 90 percent Rotten Tomatoes audience rating.

    While Lilo & Stitch had given audiences more than two decades to miss the first one — and likely had the advantage of millennial parents wanting to share the story with their children — Moana was the most recent original to get Disney’s live-action treatment. Moana 2 was initially conceived as a Disney+ series but flipped to a theatrical release for 2024, which complicated the timing for the live-action movie that began production earlier that year. Given that Johnson voiced the sequel, fans may have felt that they had already scratched their Moana itch for the time being.

    Catherine Laga’aia in Moana.

    Walt Disney Studios Motion Pictures/Courtesy Everett Collection

    It also faced competition for families from such summer titles as Disney’s own Toy Story 5 and Illumination’s Minions & Monsters. That said, the latter may have dealt with some burnout of its own in opening over the Fourth of July weekend to the lowest domestic sum for the Despicable Me franchise.

    “Everything comes down to timing in this business, and it just did not work in Moana’s favor in this case,” Fandango director of analytics and Box Office Theory founder Shawn Robbins tells The Hollywood Reporter. He points out that certain titles found the sweet spot to capitalize on nostalgia, like Disney’s live-action takes on Beauty and the Beast (2017), Aladdin (2019) and The Lion King (2019), with these reimaginings of 1990s originals all opening above $90 million domestically en route to surpassing $1 billion globally. Another of last year’s successes was Universal’s live-action remake of 2010’s How to Train Your Dragon.

    “It’s always a case-by-case basis,” says Robbins about which Disney’s movies could still work for live-action. Indeed, feature projects that were previously in development before seemingly stalling out have included live-action versions of Disney’s Robin Hood, Bambi, The Aristocats and The Sword in the Stone. “Who knows where Disney goes from here?”

    A scene from Disney’s 2010 animated movie Tangled.

    Walt Disney Studios Motion Pictures/Courtesy Everett Collection

    Disney will aim to get the right recipe for Tangled, as the live-action retelling of the 2010 animated feature focusing on Rapunzel is currently in production in Spain. Weeks after Snow White’s disappointing 2025 launch, the studio opted to pause development on Tangled but resumed its progress in the fall after the out-of-this-world box office returns for Lilo & Stitch. Speaking of the latter, a live-action Lilo & Stitch sequel is also in the works, and there are certainly plenty of fans who are holding their collective breath that a live-action Frozen ends up in development.

    The Moana team can take heart knowing that the live-action movie has had its share of vocal supporters. “Listen to the people who showed up, rather than the ones hating it unseen just because,” Role Models screenwriter Timothy Dowling posted over the weekend in praising the new Moana. Given the positive exit scores, Disney remains hopeful that the film can have legs, as the primary box office draw for the next two weekends will be Christopher Nolan’s R-rated The Odyssey.

    As for Johnson — who was cited as a key draw for those who did check out this weekend’s film — Moana 2 was a bright spot at the box office amid the star’s recent stretch that includes commercial misfires Black Adam, Red One and The Smashing Machine. He returns to another proven franchise later this year with Sony’s Jumanji: Open World, which will hope to excite fans despite opening just a week after both Avengers: Doomsday and Dune: Part Three.

    For the bigger 2026 picture, the spring was full of promise, thanks to The Super Mario Galaxy Movie and Michael — which both crossed the billion-dollar mark globally — and other hits like Project Hail Mary and The Devil Wears Prada 2. The summer has seen reasons to celebrate, including Toy Story 5 appearing to head for the 10-figure club, not to mention surprise breakouts Obsession and Backrooms. But there have been wobbly recent weeks with disappointments like Supergirl, plus June’s Masters of the Universe. The Odyssey and Spider-Man: Brand New Day are two behemoths waiting in the wings later this month.

    “It has been a wild summer,” admits Robbins, who points out that the season’s biggest smashes are having to do some heavy lifting for the industry at large. “Now there have been a few underperformers consecutively. That just really underscores what the expectation has been for a long time, that it would be a very top-heavy summer for the most part — and maybe for the year.”

  • ‘Cats: The Jellicle Ball’ Ending Broadway Run in August

    ‘Cats: The Jellicle Ball’ Ending Broadway Run in August

    Rave reviews, decent ticket sales and some Tony Awards love aren’t enough to keep “Cats: The Jellicle Ball” from ending its Broadway run early.

    The musical revival of Andrew Lloyd Webber’s “Cats” will play its final show at the Broadhurst Theatre on Saturday evening, Aug. 8. It began preview performances roughly five months ago on March 18, 2026, and opened Tuesday, April 7.

    Critics praised the radical move to transpose T.S. Eliot’s “Old Possum’s Book of Practical Cats” to the world of ballroom dance circa the 1980s, a time when drag culture was still underground and AIDS was a public health crisis. “Jellicle Ball” went on to receive nine Tony Award nominations and won three, including best direction of a musical for Zhailon Levington and Bill Rauch, as well as statues for Omari Wiles and Arturo Lyons’ choreography and Qween Jean’s costumes. Jean’s win marked the first time in history that an openly trans woman won Broadway’s highest honor.

    “Jellicle Ball” put up respectable grosses. The show was earning between $900,000 to $1 million a week in the lead-up to the Tony Awards last June, though its sales fell after “Jellicle Ball” lost best revival of a musical to “Ragtime.” Musicals are costly to produce and “Jellicle Ball” has a large cast, which makes the economics particularly tricky.

    “Three years ago, Zhailon Levingston and Bill Rauch began the remarkable process of reimagining ‘Cats’ for a new generation,” producers Michael Harrison and Mike Bosner said. “They assembled a visionary creative team that fused their passions for Ballroom and theater to create something thrillingly new.”

    Later this month, the production will be filmed by the Theatre on Film and Tape Archive at The New York Public Library for the Performing Arts and added to its collection.