Petey Pablo Faces The Heat…

There's trouble in paradise for the Philadelphia rapper. More after the jump!

Last month, it was reported that Wu-Tang Clan's one-of-a-kind album, Once Upon a Time in Shaolin, had been sold for "millions." Bloomberg has revealed the buyer's identity: Turing Pharmaceuticals CEO Martin Shkreli. Shkreli is the former hedge fund manager (and Collect Records associate) who made headlines this year for increasing the price of Daraprim—a drug used to treat AIDS and cancer patients—from $13.50 to $750. He reportedly paid $2 million for the album. Now in an exclusive interview with HipHopDX, Shkreli revealed that he's planning to bail out incarcerated Brooklyn rapper Bobby Shmurda while also firing off some shots at RZA and the rap industry. Read more after the jump!

In a recent interview with People magazine, President Obama said Kendrick Lamar's "How Much a Dollar Cost"—from this year's awesome To Pimp a Butterfly album—was his favorite song of 2015. Conversely, First Lady Michelle Obama's favorite song was Mark Ronson and Bruno Mars' "Uptown Funk". In case you ever doubted Obama's cool, et it be immediately dispelled with this news. Read the rest of the interview after the jump, via People.

This morning, the nominees for the 58th Annual Grammy Awards have been announced. Kendrick Lamar is nominated 11 times in nine categories. Right behind him is The Weeknd whose up for seven Grammys, Drake with five, Alabama Shakes and Florence and the Machine are up for four, and Kanye West, D'Angelo, and Diplo are up for three. Check out the full list of nominations after the jump.

Pusha's keeping awfully busy. On top of juggling presidential duties over at Kanye West's G.O.O.D. Music imprint, prepping the release of his highly-anticipated album King Push, he's also looking to drop Darkest Before Dawn -- the album before the album. That's right, Pusha Ton is reportedly releasing an album before King Push, and it's coming sooner than you think. According to Noisey, Pusha says that Darkest will be out December 18th and features production from Kanye West, Puff Daddy, Timbaland, Baauer, Q-Tip, and Nashiem Myrick. Read what he has to say about the forthcoming project after the jump.

After recently being named the heir apparent to the G.O.O.D. Music thrown -- by Kanye West himself -- Pusha T is sharing the lyrics to "Untouchables", the first publicly announced track from his forthcoming (and highly, highly-anticipated) new album, King Push. Read more after the jump.

New Orleans rapper Lil Wayne--who is set to release his forthcoming No Ceilings 2 mixtape--appears to be in some hot water after his home in Miami Beach was raided by police reportedly on judge's orders to seize assets, Billboard reports. Read more after the jump.