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Phyllis and Victor’s double-crossing ignites Cane’s fury after uncovering their secret deal.

In The Young and the Restless, August’s drama escalates when Cane finds himself caught in a web of manipulation and betrayal. It begins innocently enough: Cane is going through some old business correspondence when he stumbles upon a confidential document — one that was never meant to see the light of day. At first, he assumes it’s just another corporate negotiation, but a closer look reveals something explosive: Phyllis and Victor have been working together behind his back, finalizing a deal that could dismantle months of his hard work.

The betrayal hits Cane on two levels. On a personal level, he had been slowly rebuilding a fragile trust with Phyllis after past misunderstandings. On a professional level, he never imagined Victor — a man he’s clashed with but occasionally respected — would quietly join forces with her to cut him out. The document outlines not just financial terms but strategic moves that will leave Cane with virtually no leverage in an upcoming merger he’s been fighting to control.

Determined to confirm the truth, Cane pays an unannounced visit to Phyllis at the Grand Phoenix. She greets him with her usual charm, pretending nothing is amiss, but the moment he mentions “a little paperwork problem,” her smile falters. Their exchange is icy. Phyllis tries to play it off as a simple misunderstanding, claiming Victor approached her with a “win-win” business opportunity that just happened to leave Cane on the sidelines.

The scene turns tense when Cane demands to know whether she ever intended to tell him about the deal. Phyllis deflects, suggesting that in Genoa City, keeping certain cards hidden is “just good business.” Cane, now visibly furious, warns her that whatever she and Victor think they’re gaining, the cost will be higher than they expect.

Later, Cane storms into Newman Enterprises to confront Victor directly. Victor doesn’t deny the alliance — in fact, he leans back in his chair with that trademark smirk, as if amused that Cane thought he could outmaneuver him. Victor frames the betrayal as a strategic necessity, claiming Cane’s plans were “too risky” for the stability of the market. He even hints that if Cane had been more forthcoming about his own negotiations, this wouldn’t have happened.

By the end of the day, Cane realizes he’s not just dealing with one betrayal but a calculated power play designed to push him out entirely. The final scene leaves viewers with a shot of Cane alone in his office, glaring at the deal documents. His voice is low but determined as he mutters, “They think this is over. It’s not even close.”

The stage is now set for a retaliatory strike — one that could either redeem Cane or push him into even darker territory.