Good morning. In this edition:

• 📝 Russia and Ukraine swap ceasefire proposals
• 🏡 Fannie Mae and Freddie Mac could go public
• 🤔 What if your earbuds could read your mind?

…and much more.

Ready, Set, Go: Today’s news should be a ~3.39-minute read (902 words).

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"You are now, and you do become, what you think about."

–Earl Nightingale (1921-1989)

Russian President Vladimir Putin last week presented the Trump admin with a proposal for a ceasefire in Ukraine, in which Kyiv would give up significant amounts of Ukrainian territory in exchange for a halt to the fighting, per a WSJ report.

• The proposal was shared ahead of President Trump’s announcement on Friday that he plans to meet with Putin in Alaska on August 15 to negotiate an end to the war in Ukraine.
• The new date replaces Trump’s previous self-imposed deadline of this past Friday for Russia to agree to a ceasefire or face more US sanctions.

Under Putin’s deal

Russia says it will agree to a cease-fire in exchange for Ukraine handing over the remaining ~33% of the eastern Donetsk region that Kyiv still controls. The front line of battle would be frozen elsewhere, including in the Zaporizhzhia and Kherson regions that Russia also claims as its own, but whose capitals are controlled by Ukraine.

• Additionally, Putin wants the ceasefire deal to include a promise that the Donetsk, Luhansk, and Crimea regions of Ukraine be recognized globally as sovereign Russian territory.

Ukraine has other ideas

Ukraine on Saturday responded to Russia’s proposal with a counterproposal to the Trump admin—backed by European powers including Britain, Germany, and France—that reportedly calls for a ceasefire before any further steps are taken.

• The European proposal further states that any exchange of Ukrainian territory between Kyiv and Moscow must be reciprocal and backed by rock-solid security guarantees, including potential NATO membership for Ukraine to prevent further Russian attacks.

Big picture: Over the past 2+ years of being on the offensive, Russia has conquered less than 1% of Ukrainian territory—much of it in the Donetsk region—while losing hundreds of thousands of troops, the WSJ reports. Ukraine has also suffered mass casualties from the war, but independent sources say Kyiv’s total is equivalent to ~40% of the soldiers Russia has lost.

Looking ahead…The White House is reportedly considering inviting Ukrainian President Volodymyr Zelensky to the Trump-Putin summit in Alaska, though no decisions have been finalized. European leaders have consistently maintained that Ukraine must be part of any discussions about ending the war.

📊 Flash poll (long-form): What are your thoughts on the separate peace proposals submitted to the Trump administration this week by Russia and Ukraine? The most thought-provoking and insightful answers will be featured in tomorrow’s newsletter.

• Click here to leave a response.

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Monday: National Play in the Sand Day; Intel CEO Lip-Bu Tan, whom President Trump has called on to resign, will visit the White House

Tuesday: US reports July CPI; Deadline for 90-day US tariff truce with China expires; Alien: Earth debuts on Hulu

Wednesday: Peter Thiel-backed crypto exchange Bullish to debut on NYSE; Little League World Series begins

Thursday: Madden NFL 26 release date; Mamma Mia returns to Broadway

Friday: Nobody 2 hits theaters; new US consumer sentiment data; Beijing hosts 2025 World Humanoid Robot Games; English Premier League kicks off

+Over the weekend: George Orwell’s Animal Farm turns 80 (Sunday)

BUSINESS & MARKETS

• 📝 The Trump admin says Fannie Mae and Freddie Mac will go public sometime later this year; the US-controlled mortgage giants could be valued at a combined $500+ billion. | SEC settles long-running high-profile crypto case accusing Ripple Labs of selling unregistered securities; decision seen by analysts as a win for crypto industry.
• 📈 Gold futures hit record-high ~$3,500/troy ounce on Friday; prices are up ~30% on the year.
• 💡 Tesla files request to provide electricity to British homes and businesses.

SPORTS, MEDIA & ENTERTAINMENT

in partnership with MorningSave

• 🏈 Week 1 of the NFL preseason is in the books; see a recap and key takeaways from each game by clicking the link. | 🙏 Two Japanese fighters passed away from brain injuries suffered at separate fights during the same Aug. 2 event; Japan’s Boxing Commission shortens title bouts from 12 to 10 rounds in response.
• 🎸 Nashville Songwriters Hall of Fame announces 2025 class, headlined by Emmylou Harris and Brad Paisley.
• 🍿 Weapons tops domestic box office with ~$42.5 million in its opening weekend; film marks Warner Bros. tenth #1 title of 2025.

*From our partners: 🤩 Kathy Ireland 6-Piece Chevron Jacquard Letsdry Towel Set for $34.99… 100% combed cotton. Experience superior absorption and quick-drying convenience. Save $65 here (reg. $100) at MorningSave.

SCIENCE, SPACE & EMERGING TECH

• 🪐 Possible planet in Alpha Centauri spotted by NASA’s James Webb telescope; if confirmed, it would mark the closest known planet to orbit a sun’s “habitable zone,” at four light-years away. | Four astronauts return to Earth after five months onboard International Space Station.
• 🔬 New research shows humans’ genetic sex affects susceptibility to certain diseases; women are more prone to autoimmune diseases, while men face higher risks of infectious diseases.
• 📸 Top-10 science photos of last week include a maze of 1.5 million books, ancient Siberian tattoo artistry, and apes with a taste for alcoholic fruit.

US, WORLD & POLITICS

• 🏛️ DOJ launches investigation into NY AG Letitia James and Sen. Adam Schiff (D-CA); James’ case reportedly centers around whether she violated President Trump’s civil rights while prosecuting a lawsuit over alleged fraud by Trump; Schiff’s case centers around mortgage fraud allegations. | Trump admin seeks $1 billion settlement with UCLA over allegations the school tolerated antisemitism and used “identity-based preferences” for hiring, admissions, and scholarships; deal would restore $584 million in frozen federal funding.
• 🧾 Trump removes IRS Commissioner Billy Long less than two months after his Senate confirmation, giving him the shortest-ever tenure in that role; Treasury Secretary Scott Bessent will serve as acting IRS commissioner.
• 📝 Australia says it will recognize a Palestinian state in Sept., joining the UK, France, and Canada.

☝️ The s’more you know: Yesterday was National S’mores Day across the US. But in Hershey, PA, the gooey celebration actually kicked off on Monday (the 4th) and lasted all week—complete with shakes, burgers, and enough melted chocolate to make Willy Wonka jealous.

🤔 Did you know? In E.T. (1982), Steven Spielberg wanted to feature his favorite candy, M&M’s. But Mars refused to sign-on without seeing the script, so Spielberg turned to Reese’s Pieces instead.

📰 Worth a Read: Dogs are helping people regulate stress even more than expected

🖱️ Clickbait: What if your earbuds could read your mind?

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On Friday, we covered a new investigation that shows how the rate of fraud in scientific publishers has grown considerably in recent years, with sophisticated underground networks working to infiltrate top journals.

❓ Our question to you: How would you best describe your personal confidence in the scientific community?

• A great deal of trust: 26%
• An average amount of trust: 36%
• Little or no trust: 25%
• Unsure/other: 13%

Click here to read some of the most thoughtful longform responses.

+Note on sample size: We received 1,688 votes and 141 longform responses.

Guess the definitions of the following Greek/Latin root words:

1. Chir
2. Dynam
3. Junct
4. Lig
5. Mol

🙌 When South Jersey’s Laura Emanuel lost two beloved rings on the beach, she thought they were gone for good—until a kind family and Cape May fire lieutenant Jeffrey Laag came to the rescue. 

1. Chir = Of the hands (e.g., chiropractor)
2. Dynam = Power (dynamite)
3. Junct = Join (juncture)
4. Lig = Bind (ligament)
5. Mol = Grind (molar)