The S&P 500 is just 3% below the record high it set on October 6. Its worst drop this year was 9.1%, during the Iran war in March.

Zelensky says Ukraine, the US and Russia are preparing a trilateral meeting in the first half of November. He discussed it with Erdoğan, including holding talks in Türkiye and involving Europe. No date or venue confirmed yet.

Where it all started.

18 years ago a post on an obscure mailing list changed the course of human history. Happy White Paper Day.

OpenAI's latest funding round values it at $1.25 trillion, short of the $1.4 trillion it was targeting. It had been seeking $30 billion. Annualized revenue is $50 billion, with a goal of $70 billion by year-end.

An extortion group called n0n published the passwords and keys to a firewall that guards the link Finzly's bank clients use to send payment instructions to the Federal Reserve. Finzly connects 11 listed banks and credit unions to ACH, Fedwire and FedNow through a single shared connection. The leaked files describe a direct link labeled "FED" and rules for FedNow and FedACH traffic. Finzly says it rotated its keys and credentials and that the files can't get anyone into its systems. The Fed says its payment services were not impacted. The passwords were the easy part to fix. The map of how everything connects is still out there. h/t @Caitlin Long

American Banker

Extortion group leaks keys to bank vendor's Fed firewall

Federal Reserve payment services "were not impacted," a spokesperson said. Still, experts say banks should ensure the vendor changed every leaked c...

"Microsoft's revenue went from 198 billion to 332 billion in the last four years, while staff only increased by 2,000 people." Chamath Palihapitiya on AI productivity gains at Microsoft.

"That $80 billion loss is a phantom number." David Sacks on why Anthropic's $80 billion loss was not real.

"There's no single company in the world that is doing more to race towards full RSI than anthropic." David Sacks on Anthropic and the coming split with the doomers.

"The AI complex has gotten so big that it now competes with U.S. Treasuries." Chamath Palihapitiya on the systemic risk of AI competing with Treasuries.

"The entire United States economy is levered to the AI complex." Chamath Palihapitiya on AI companies competing with the US Treasury for capital.

French lawmakers approved a tax of €0.055 (5.5 cents) per gigabyte of data that companies like Netflix and YouTube send to French users. The vote was 11 to 10. Only 35 of 577 lawmakers were present. Supporters say it could raise up to €10 billion a year. The tax falls on the companies, not users directly, but the cost could be passed on to subscribers. The French government opposed it, warning it would hit smaller French companies hardest. VLC says it would cost it over €1 million a year.

Trump says he is looking into the $6.3 billion Binance hack, as Binance says it has the situation pretty much under control.

CFTC proposes a federal registration option for crypto exchanges. Selig: "Markets are best protected when regulated in the U.S."

Avenger air defense systems armed with Stinger missiles are now deployed near Mar-a-Lago, per the Palm Beach Post. They sit on a barge next to the estate and near the airport where Air Force One parks, at the Secret Service's request.

"She was stuffing her bag with chickens, just literally stealing chicken for dinner because it's that bad." Broken Country Film director Mira Metter on Canada's food bank crisis.

Chainalysis, the firm that tracks crypto hackers, has been hacked itself. In a customer email seen by International Cyber Digest, the company says an external attacker used "offensive agentic techniques" to gain unauthorized access to its systems. Exposed data: user IDs, full names, email addresses and organization role labels. Chainalysis says there is no indication that investigation content, passwords, MFA secrets or session tokens were accessed. It also says the incident is unrelated to the $6.3B Binance heist. The notice has circulated as a shared customer email. There is no broad public statement from the company yet.

.The Rage says only about $2.7 billion of the $6.36 billion stolen from Binance has been frozen. Tether, Circle, Ripple and World Liberty Financial froze about $2.67 billion in stablecoins. Arbitrum's Security Council froze 8,426 ETH and 74.6 million ARB. The attacker raced the freezes, selling USDT to market makers and borrowing ETH against USDT on Aave. It still holds more than 420,000 ETH and 18,270 BTC, about $2.4 billion beyond any issuer's reach. TRM Labs attributes the theft to North Korea's TraderTraitor.

North Korea-linked hacks now average $185.65M per incident in 2026 YTD, up from $50.65M in 2021. That is about 3.7x larger per hack.

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