Binance hackers raced to move billions before it could be frozen
Attackers raced to convert stolen stablecoins into crypto that issuers could not freeze as industry players like Tether and Circle moved to immobilize billions…
Why gold plunged to its lowest price in a year despite renewed Iran jitters
Safehaven gold fell to its lowest price in a year, despite jitters around the potential for fresh Middle East attacks following the U.S. midterm elections on…
The selloff in tech stocks is shifting into overdrive
Technology stocks had been priced for perfection. They are now getting hammered. Source：MarketWatch
Experts divided over Binance hack asset freezes, warn recovery is another matter
Tether, Circle and others moved within hours to block billions in stolen crypto, but legal experts question whether smaller victims would get the same…
The Fed held interest rates steady, but these officials see more hikes coming soon
Dallas Fed’s Lorie Logan sees “at least” 50 basis points in additional hikes. Source：MarketWatch
SEC Issues Exemptive Relief from Treasury Clearing Requirements for Certain Inter-Affiliate and Non-U.S. Repo Transactions
The Securities and Exchange Commission took another step forward today to assist brokerdealers and other market participants on the path to central clearing of…
Tether’s excess reserves nearly double to $8B as Q3 profit hits $1.5B
The stablecoin issuer’s US Treasury holdings are comparable to those of major foreign holders, while its Bitcoin reserves were valued at $8.37 billion at the…
Microsoft is winning the cloud wars and becoming Wall Street’s new golden child
Various factors indicate that Microsoft is in a better financial position than its cloud rivals, analysts say. Source：MarketWatch
Coinbase leads crypto stock selloff following $6.3B Binance hack
Circle, Strategy and other cryptolinked stocks fell sharply Friday, a day after Binance disclosed a $6.3 billion security breach. Source：Cointelegraph
American workers are finding their take-home pay isn’t keeping up with inflation, with their wallets ‘stretched thinner and thinner’
Worker compensation grows slower than inflation for second straight quarter Source：MarketWatch
You can expect the stock market to rally no matter who wins on Election Day
Also in Weekend Reads: Dividend stocks, a way to jump on the Anthropic bandwagon ahead of its IPO, and advice from The Moneyist. Source：MarketWatch
The big winners of the tech wreck are biopharma stocks
The shares of large drugmakers like Lilly, Gilead and J&J keep hitting record highs. Source：MarketWatch