Capital One Closes 300+ Trump Accounts, Blanche Kills $1.8bn Fund, Trump Declares Gaza and Iran Breakthroughs

Capital One has closed more than 300 bank accounts linked to the Trump Organization, citing money-laundering concerns, and is asking a judge to permanently dismiss a related lawsuit from Trump-affiliated businesses. The bank argues that a monthslong internal review—not the January 6 riot—led to the closures, which it first notified the Trump Organization about in March 2021. Separately, acting U.S. Attorney General Todd Blanche issued an order late Sunday terminating the $1.8bn “anti-weaponization fund,” a mechanism intended to compensate Donald Trump’s political allies. The move followed weeks of negotiations with two Republican senators and could clear the path for Blanche’s nomination as attorney general. These actions come as Trump simultaneously declares breakthroughs in Gaza peace talks—claiming a deal includes complete Hamas disarmament—and insists an end to the war with Iran is close, while calling for the immediate reopening of the Strait of Hormuz. Israeli officials have voiced scepticism about the Gaza deal, and negotiations with Iran are set to begin Monday.

Capital One Closes 300+ Trump Accounts, Blanche Kills $1.8bn Fund, Trump Declares Gaza and

Capital One has closed more than 300 bank accounts tied to the Trump Organization, citing money-laundering concerns, and is asking a judge to permanently dismiss a lawsuit from Trump-affiliated businesses. The bank argues a monthslong internal review, not the January 6 riot, explains the shutdowns.

Acting Attorney General Todd Blanche issued an order late Sunday terminating the $1.8bn “anti-weaponization fund,” which was intended to compensate Donald Trump’s political allies. Blanche said the move followed weeks of negotiations with two Republican senators and could clear the path for his nomination.

Trump declared a “great breakthrough” in Gaza, claiming an agreement includes complete disarmament of Hamas and Israeli withdrawal, though he did not specify sequencing. He also launched a paid Truth Social data service on Aug. 1, 2026, selling faster access to his posts, and filed a $10 billion lawsuit against the IRS over a tax-information leak.

1. 2026-08-01

   Trump Media launches paid data service

2. 2026-08-02

   Trump declares Gaza breakthrough

3. 2026-08-03

   Negotiations with Iran begin

4. 2026-08-03

   Blanche issues order terminating anti-weaponization fund

Capital One’s Account Closures and Legal Defense

Capital One closed more than 300 bank accounts linked to the Trump Organization, citing money-laundering concerns, the bank has stated. The closures, first notified to the Trump Organization in March 2021, have triggered a legal battle. Capital One is now asking a judge to permanently dismiss a lawsuit brought by Trump-affiliated businesses.

The bank argues that a monthslong internal review—not the January 6 Capitol riot—explains why the accounts were shut down. Capital One has publicly stated that the decision was driven by anti-money-laundering obligations, not political considerations.

Trump-affiliated entities have contested the closures, but the bank maintains its actions were standard compliance measures. The lawsuit remains pending, with Capital One seeking a swift dismissal. The case has drawn attention given the high-profile nature of the account holders and the timing of the closures.

Blanche Terminates $1.8bn Fund for Trump Allies

Acting Attorney General Todd Blanche issued a formal order late Sunday terminating the $1.8bn “anti-weaponization fund,” a pool of money intended to compensate Donald Trump’s political allies. The order followed weeks of negotiations with two Republican senators, according to Blanche.

The fund’s creation had drawn criticism from Democrats who said it would allow the Justice Department to reward Trump loyalists with taxpayer money. Blanche’s order effectively dismantles that mechanism before it could be used.

The move could clear the path for Blanche’s nomination as attorney general, which had faced opposition from some Republicans wary of the fund. By terminating it, Blanche removed a key point of contention. He did not specify which senators were involved in the negotiations or what concessions, if any, were made.

Blanche said the order was issued late on Sunday. The fund was originally designed to shield Trump allies from legal costs related to investigations into the former president. Its termination marks a significant reversal for the Trump administration’s Justice Department.

Trump’s Gaza and Iran Breakthrough Claims

Donald Trump declared a breakthrough in negotiations over the disarmament of Hamas in Gaza and the withdrawal of Israeli forces, calling the agreement a “great breakthrough.” He claimed the deal includes the complete disarmament of Hamas, but did not specify whether Israeli withdrawal or Hamas disarmament would come first. Israeli government officials voiced scepticism over the deal, according to Israeli government officials.

Trump also said negotiations with Iran are set to begin Monday, and that an end to the war is close. He said he canceled a pending attack on Iran and has called off new attacks for the time being. He is calling for the immediate reopening of the Strait of Hormuz, insisting a deal would include that step. Trump said he will order American forces to hold off on attacks against Iran as a potential deal takes shape.

Trump Media Data Service and IRS Lawsuit

Trump Media and Technology Group launched a paid data service on Aug. 1, 2026, selling faster access to top Truth Social posts from President Donald Trump. The company announced the service as a new revenue stream tied to Trump’s social media platform.

Separately, Donald Trump filed a lawsuit against the IRS seeking $10 billion over the leak of his tax information by an agency contractor. The case was later dismissed, and a judge referred Trump’s lawyer to the bar. Trump has appealed that order. The lawsuit and appeal are part of a long-running dispute stemming from the disclosure of Trump’s tax returns, which were published by The New York Times in 2020 after a contractor leaked them.

Reactions and Next Steps

Donald Trump rejected the conclusion by U.S. Attorney Jeanine Pirro that contractors caused the Lincoln Memorial Reflecting Pool to peel. Interior Secretary Doug Burgum also rejected that finding.

Trump said he has called off new attacks on Iran for the time being. He insisted an end to the war is close and again called for the immediate reopening of the Strait of Hormuz. He said negotiations with Iran are set to begin Monday and that a potential deal would include reopening the waterway. He said he will order American forces to hold off on attacks against Iran as a deal takes shape.

The president offered no timeline for the Strait of Hormuz reopening, nor did he specify what the terms of any ceasefire with Iran would be. Israeli officials have voiced scepticism about Trump’s separate Gaza peace plan, which he called a “great breakthrough” and said includes the complete disarmament of Hamas.

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