Anthropic's IPO Filing Reveals Nearly $900 Billion in Future Infrastructure Commitments
- Anthropic's IPO filing has disclosed nearly $900 billion in future financial commitments related to servers, data-centre construction, electricity and computing infrastructure.
- These obligations include future lease and purchase agreements covering data centres, GPUs and power supply, and are detailed in the notes to its financial statements rather than appearing as conventional balance-sheet debt.
- The commitments highlight the enormous capital requirements involved in expanding Anthropic's AI infrastructure and supporting its growing computing needs.
- David Trainer, CEO of investment research firm New Constructs, described the commitments as massive, warning that the company must invest heavily in AI training, inference and energy.
- The disclosures raise questions about long-term infrastructure costs, financing requirements and the financial risks associated with the AI expansion race.
Turkey's Hakan Fidan Meets Marco Rubio as US-Iran Negotiations Face Conflicting Accounts
- Turkish Foreign Minister Hakan Fidan met US Secretary of State Marco Rubio on the sidelines of the G20 foreign ministers' meeting in Atlanta to discuss developments in ongoing US-Iran negotiations.
- The two officials also discussed bilateral relations, the situation in Gaza, the Russia-Ukraine war and other regional issues.
- Meanwhile, Iranian state-linked Tasnim News Agency accused Axios journalist Barak Ravid of conducting a media-driven psychological campaign against Iran by reporting on ongoing negotiations and the possibility of renewed US military action.
- Tasnim claimed reports about disagreements over Iran's nuclear programme and the US naval blockade were intended to increase pressure on Tehran.
- Iranian officials reportedly disputed the account that nuclear concessions were central to the current round of indirect negotiations, claiming the nuclear issue was not on the agenda.
- The competing accounts highlight continuing uncertainty over the scope of negotiations and the conditions Washington and Tehran are setting for renewed dialogue.
Qatar Holds 12-Hour Talks in Tehran to Revive US-Iran Negotiations Ahead of Possible Military Escalation
- Qatari mediators held more than 12 hours of discussions in Tehran on Friday in an effort to restart direct US-Iran negotiations and prevent further escalation after the US midterm elections, Axios reported, citing diplomatic sources.
- Talks are expected to continue in Doha on Saturday, with Qatar maintaining regular communication with the White House. A diplomatic source described the progress as positive.
- Qatar is pushing Washington and Tehran to agree on a package of reciprocal measures that could be implemented within days, paving the way for renewed negotiations on Iran's nuclear programme and other issues.
- Two major disagreements continue to block progress:
- US demand: Iran must make nuclear concessions before direct negotiations resume.
- Iran's demand: Washington must first lift its maritime blockade, unfreeze Iranian funds and allow oil exports.
- Qatar is also urging Iran to grant UN nuclear inspectors access to its damaged nuclear facility as a confidence-building measure.
- Washington wants inspector access to be part of a broader arrangement in exchange for sanctions relief.
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Trump Administration Reportedly Briefs Gulf Allies on Possible November 4 Strikes Against Iran
- The Trump administration has reportedly informed Gulf allies to prepare for a possible new round of short but intense US military strikes against Iran as early as November 4, the day after the US midterm elections.
- According to MS NOW, citing three senior officials from Gulf states, Washington has briefed regional partners about the potential military operation.
- The reported objective would be to further damage Iran's nuclear programme or increase pressure on Tehran to reach a negotiated agreement.
- The US has reportedly not conducted another strike against Iran since September 1 and is currently applying pressure through a naval blockade of Iranian ports.
- Gulf officials have not ruled out the possibility that some regional governments could oppose the use of military bases within their territories for any new US attacks.
Binance Hack: Attacker Holds 420,000 ETH and 18,270 Bitcoin; Exchange Finds Additional Breach Points
- The attacker behind the estimated $6.3 billion Binance security breach has reportedly converted stolen tokens and stablecoins into more than 420,000 ETH and 18,270 Bitcoin, according to TRM Labs.
- CoinDesk reported that attackers exploited an Ethereum wallet feature on October 29 to drain approximately $2.5 billion from a single wallet in less than four minutes.
- Tether and Circle have frozen more than $2.3 billion in stablecoins, while TRM Labs, Chainalysis and Elliptic have linked the attack to North Korea's TraderTraitor hacking group.
- TRM Labs estimates that approximately $2.4 billion in Ether and Bitcoin remains in the attacker's possession. These decentralised assets cannot be frozen directly by stablecoin issuers.
- Binance said it had identified additional points of breach beyond the initially suspected compromised DevOps engineer's laptop.
- The exchange expects withdrawals to resume in approximately 45 hours, subject to completion of security checks.
- Bitcoin fell to a six-week low amid the incident, while more than $1.6 billion in leveraged positions were liquidated. Binance has pledged to cover all user losses.
Binance $6.3 Billion Hack: North Korean Hackers Linked to Record Crypto Theft
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Explosive-Laden Small Boat Hits Tanker in Strait of Hormuz; Adhesive Sea Mine Found Off Iraq
- The UK Maritime Trade Operations (UKMTO) reported that a tanker was struck by a small boat carrying explosives in the Strait of Hormuz on October 29.
- The explosion damaged the vessel's engine room and triggered a fire, temporarily disabling the tanker. The blast occurred above the waterline, and no injuries were reported. The vessel later resumed sailing.
- UKMTO described the incident as the first small-boat attack of its kind during the current conflict. The explosive device was reportedly an adhesive or limpet-style sea mine, typically attached to a ship's hull near the waterline.
- The incident highlights concerns over the use of small boats and hull-attached explosives against commercial shipping in the strategically important waterway.
- Separately, a Liberia-flagged tanker off the Iraqi coast was found carrying a suspicious object that Iraqi security forces confirmed as an adhesive sea mine before removing it.
- A US official had earlier said that no ships transiting the Strait of Hormuz had struck floating sea mines. Iran has previously been accused of using limpet-mine tactics, including incidents involving vessels in 2021 and 2024.
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Nasdaq at Two-Month Low as Amazon's Cash Burn and Intel's Weak Outlook Intensify AI Spending Concerns
- The Nasdaq Composite opened at its lowest level in more than two months on Friday as disappointing earnings from Amazon and Intel intensified concerns over the costs of the AI infrastructure boom.
- Amazon reported negative trailing 12-month free cash flow of $42.4 billion, raising concerns about the financial burden of its massive data-centre and AI investments.
- Intel issued weaker-than-expected fourth-quarter guidance, citing soft PC demand and a memory supply crunch.
- The sell-off followed a sharp decline in Alphabet shares a day earlier, adding to pressure across major technology stocks.
- Despite the market weakness, Raymond James strategist Matt Orton told CNBC that he did not see an immediate "moment of reckoning", noting that the Nasdaq remains higher for the year.
Reliance Industries Q2 Profit Jumps 34% to ₹29,550 Crore; Jio Platforms Profit Rises 13.7% to ₹8,389 Crore
- Reliance Industries reported a 34% year-on-year increase in consolidated net profit to ₹29,550 crore for the September quarter, significantly beating the Bloomberg consensus estimate of ₹21,368 crore.
- Gross revenue surged 27.8% to ₹3.62 lakh crore, supported by higher crude oil and fuel prices.
- Oil-to-chemicals (O2C) EBITDA jumped 67.9%, driving record earnings in the segment amid stronger refining and petrochemical economics.
- Reliance Retail revenue increased 6.4%, with festive-season sales falling into the third quarter this year.
- Jio Platforms reported its first quarterly results as a listed company, with consolidated net profit rising 13.7% to ₹8,389 crore.
- Jio's revenue grew 11%, while average revenue per user (ARPU) increased 3.5% to ₹218.80 per month, supported by subscriber mix and higher usage.
Jio Platforms Becomes India's Second-Most Valuable Company; Retail Investors Borrow ₹2,228 Crore to Buy Shares
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US Completes Final Awards for 172 Million-Barrel Strategic Petroleum Reserve Release
- The US Department of Energy has awarded contracts for nearly 41 million barrels of crude oil, completing the final tranche of the Trump administration's emergency Strategic Petroleum Reserve (SPR) release programme.
- Companies including Trafigura and ExxonMobil were among those awarded contracts.
- The programme covers approximately 172 million barrels, making it the second-largest SPR release in US history.
- The release was initiated to ease energy price pressures following the outbreak of the war involving Iran.
- The US action forms part of a broader International Energy Agency (IEA) initiative to release 400 million barrels into global markets.
- Since the conflict began, the US has released approximately 174.1 million barrels, exceeding its previously committed 172 million barrels under the IEA programme.
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$6.3 Billion Binance Hack: 18,270 Bitcoin and 233 Million XRP Remain Untouched
- The attacker reportedly distributed approximately 18,270 Bitcoin across 19 wallets and transferred 233 million XRP into a single account. Both holdings remain unspent, according to CoinDesk.
- Unlike stablecoins, Bitcoin and XRP cannot be frozen directly by a central issuer, making recovery more challenging.
- Tether and Circle have frozen approximately $2.4 billion in stablecoins, while Binance says around $3 billion in total assets have been frozen.
- Blockchain intelligence firm TRM Labs has attributed the attack to North Korea's TraderTraitor hacking unit.
- Binance traced the suspected breach to a compromised engineer's laptop and pledged to cover all customer losses using its SAFU fund and corporate resources.
Microsoft Warns North Korean Hackers Are Operationalising AI; Binance Theft Linked to TraderTraitor
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- Jio Platforms made its NSE debut on October 28 following a record $3.2 billion IPO, becoming India's second-most valuable listed company after parent Reliance Industries.
- Its market capitalisation reached approximately ₹13.1 lakh crore following a strong listing-day rally.
- Retail investors borrowed ₹2,182 crore through margin trading to purchase Jio shares, making it India's fourth-largest margin-funded stock.
- Only HDFC Bank, Reliance Industries and BSE Ltd had larger outstanding margin funding positions, based on exchange data.
- Mukesh Ambani became emotional during the listing ceremony as his children led the celebrations. A "Thank You, India" message was displayed at the Ambani family's Mumbai residence.
World Bank: India's Extreme Poverty Falls to 2.6% in 2023; 496 Million People Exit Poverty
- India's extreme poverty rate declined sharply from 27.1% in 2011 to 2.6% in 2023, according to the World Bank's October 2026 Poverty and Equity Brief.
- Poverty measured at the $4.20-a-day threshold also fell from 57.7% to 16.1% over the same period.
- The report estimates that approximately 496 million Indians escaped poverty between 2011 and 2023.
- The improvement was supported by rising household consumption, increased female workforce participation and government food subsidy programmes.
- Despite the progress, income inequality remains significant, with the top 10% earning approximately 13 times as much as the bottom 10%.
- The World Bank cautioned that household surveys may underestimate the actual extent of inequality.
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Microsoft Warns North Korean Hackers Are Operationalising AI; Binance Theft Linked to TraderTraitor
- A Microsoft Threat Intelligence report published on October 29 identified growing use of generative AI by North Korean hacking groups Jade Sleet, Coral Sleet and Jasper Sleet in their routine cyber operations.
- Microsoft said these groups have reached its highest "operationalised" AI adoption stage, indicating that AI is being integrated into their regular attack workflows.
- Another North Korean-linked group, Onyx Sleet, reportedly used AI to create more than 100 customised PDF phishing lures targeting South Korean users during August and September.
- Separately, blockchain intelligence firms TRM Labs and Chainalysis have attributed the October 29 theft of approximately $6.3 billion from Binance to North Korea's TraderTraitor hacking unit.
- The Binance incident is being described as the largest cryptocurrency theft on record.
North Korean Hackers Linked to Record $6.36 Billion Binance Theft, TRM Labs Says
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US Treasury Raises Record $839 Billion in Weekly Debt Auctions; Nasdaq Opens Down 2.26% as Tech Stocks Slide
- The US Treasury raised a record $839 billion through 11 auctions of Treasury bills, floating-rate notes and 2-year, 5-year and 7-year securities this week, surpassing the previous record of $834 billion set during the same period last year.
- Most of the proceeds were used to repay maturing Treasury debt, while actual net new borrowing amounted to approximately $106 billion.
- Weekly net Treasury issuance previously peaked near $362 billion in March–April 2020 during the pandemic funding surge.
- Tony Fallon of Mischler Financial Group warned that record debt issuance could prompt investors to demand higher yields, increasing borrowing costs for the US government.
- Meanwhile, US equities opened sharply lower, with the Nasdaq falling 2.26% and the S&P 500 declining 1.16%. The Dow Jones edged up 0.08%.
- Intel plunged 25.75% following its earnings report, while AMD fell 10.22% and Qualcomm declined 5.71%.
- Intel's five-year CDS spread hit a record 123.5 bps. This marks the largest single-day move since October 2022.
Trump Demands Guarantee Iran Will Never Develop Nuclear Weapons; Bessent Highlights Collapse of Iranian Currency
- US President Donald Trump said Washington needs a guarantee that Iran will never develop nuclear weapons.
- Trump argued that if Iran possessed nuclear weapons, the US would have to treat its leadership differently, adding that he was unwilling to do so.
- He said Iran's leadership had been severely weakened and that Washington was uncertain whom it could negotiate with, describing this as a secondary issue.
- Trump also claimed he did not start the conflict, arguing that Iran had effectively been at war with the US since the 1979 Islamic Revolution.
- US Treasury Secretary Scott Bessent highlighted the collapse of Iran's currency, saying its depreciation had reached a level where authorities could reportedly arrest people for printing its exchange-rate value.
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North Korean Hackers Linked to Record $6.36 Billion Binance Theft, TRM Labs Says
- Blockchain intelligence firm TRM Labs has attributed the theft of approximately $6.36 billion from Binance to North Korean hackers, describing it as the largest cryptocurrency theft on record.
- TRM said it had "high confidence" that the attack was carried out by TraderTraitor, a North Korean hacking unit linked to the Lazarus Group.
- According to the firm, most of the funds were drained within approximately 20 minutes.
- The attack reportedly involved transactions across 10 blockchains, including Bitcoin, Ethereum, Solana and Tron.
- The estimated theft is more than four times the $1.5 billion stolen in the 2025 Bybit hack.
Bitcoin Hits Six-Week Low as $6.3 Billion Binance Security Breach Triggers Crypto Market Concerns
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Bitcoin Hits Six-Week Low as $6.3 Billion Binance Security Breach Triggers Crypto Market Concerns
- Bitcoin fell to a six-week low after Binance suspended withdrawals following a security breach on October 29, with the exchange estimating the total impact at approximately $6.3 billion.
- Binance said its investigation identified multiple potential breach points involving compromised DevOps laptops, suggesting the attack may have extended beyond a single employee's device.
- Around $3 billion in affected assets has reportedly been frozen on-chain. Tether and Circle have also frozen approximately $2.4 billion in stablecoins, according to Reuters.
- Blockchain intelligence firm TRM Labs linked the attack to North Korea's TraderTraitor group, although the attribution remains an assessment by blockchain investigators.
- Binance has pledged to cover all user losses using its SAFU fund and corporate funds. Deposits and withdrawals remain suspended while security checks and investigations continue.
- Institutional investors are reportedly withdrawing assets from centralised exchanges amid concerns about exchange security and potential liquidity pressures.
- Analysts have warned that locked funds could trigger forced liquidations at other exchanges, while Standard Chartered expects further downside pressure on cryptocurrency prices.
Binance Estimates $6.3 Billion Impact From Security Incident; Says $3 Billion in Assets Frozen
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RBI Tightens Cybersecurity Oversight of Banks; Seeks AI Risk Readiness and API Security Reviews
- The Reserve Bank of India (RBI) has asked banks to demonstrate compliance with cybersecurity regulations and disclose their preparedness for emerging artificial intelligence-related threats, according to Reuters sources.
- The central bank also wants lenders to review API connections with non-banking financial companies (NBFCs) and fintech firms to identify potential security vulnerabilities.
- The move follows reported cyber incidents, including more than 700 unauthorised transfers from ICICI Bank accounts through a compromised API and a data leak involving State Bank of India.
- RBI Governor Sanjay Malhotra said banks are alert to cybersecurity risks arising from AI agents and are taking steps to address potential vulnerabilities, according to The Economic Times.
- The review is expected to focus on banks' cybersecurity controls, third-party integrations, API security and ability to manage emerging AI-related threats.
AU Small Finance Bank Investigates Suspected Salesforce Data Leak; Banking Systems Unaffected
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Deutsche Bank Warns AI Boom Could Weaken Dollar's Safe-Haven Status
- Deutsche Bank says AI-driven market adjustments could disrupt the traditional relationship between US equities and the dollar, potentially making the greenback a less reliable safe-haven asset.
- Recent simultaneous declines in technology stocks and the US dollar suggest that risks in both markets may be greater than investors currently anticipate.
- Foreign investors hold more than $20 trillion in US equities, with approximately 90% of the increase in their holdings driven by share-price appreciation rather than fresh purchases.
- A decade-long negative correlation between US stocks and the dollar reduced incentives for overseas investors to hedge currency exposure.
- Deutsche Bank warns that if US equities face a domestic shock, the dollar could decline alongside stocks, amplifying losses for foreign investors holding unhedged US assets.
- A simultaneous decline in US real yields and equities could indicate that markets are reassessing expectations for AI-driven capital expenditure and economic growth.
- The bank describes this evolving market dynamic as the "AI dollar era", in which the dollar's traditional safe-haven behaviour may become less dependable.
Dollar Faces Position-Unwinding Risk Ahead of US Midterm Elections, ING Warns
- ING analyst Francesco Pesole said the US dollar faces a key near-term risk as investors may unwind bullish dollar positions ahead of Tuesday's US midterm elections.
- Prediction markets reportedly assign approximately 68% probability to a Democratic sweep, which could create additional pressure on the dollar.
- A Democratic sweep could increase concerns over a potential government shutdown, a debt-ceiling stalemate and further political uncertainty.
- Pesole also warned that such an outcome could weigh on already fragile market sentiment amid concerns surrounding AI-driven valuations and technology stocks.
- However, he said the dollar could attract fresh buying interest if technology stocks stop dominating market headlines.
Global Oil Majors Post Strong Q3 Results as Record Refining Margins Boost Profits
- Exxon Mobil reported Q3 adjusted EPS of $4.23, beating expectations of $4.08. Adjusted net income reached $17.5 billion, against estimates of $16.6 billion.
- Exxon’s downstream adjusted earnings surged 120% quarter-on-quarter to $9 billion, driven by sharply higher refining margins amid disruptions to global refining capacity and tighter diesel supplies.
- Upstream earnings declined 20% QoQ to $7.3 billion due to lower Brent prices, while specialty products earnings rose 32% to $1.3 billion. Production averaged 4.5 million boe/day.
- Exxon announced a $20 billion share buyback programme for 2027, maintaining the same level as 2026.
- Chevron also beat expectations, reporting Q3 adjusted EPS of $5.28, exceeding analyst estimates by $0.35. Refining earnings hit a record $4.93 billion, nearly four times the year-ago level.
- Chevron reduced its share buyback pace to $2.5 billion, while remaining within its full-year guidance. It expects Venezuelan production to reach approximately 300,000 barrels per day by year-end, around 20% higher than a year earlier.
- European oil majors also benefited: Shell increased share buybacks, while BP recorded its strongest quarterly profit in 18 years, supported by strong refining margins.
AU Small Finance Bank Investigates Suspected Salesforce Data Leak; Banking Systems Unaffected
- AU Small Finance Bank is investigating a potential data leak involving its Salesforce platform, which handles information related to customers of its vehicle finance business.
- The cybersecurity group ScarlettGroup has claimed it accessed the bank's data and threatened to leak it. The group's allegations have not been independently verified.
- The hackers reportedly claim to have obtained sensitive information, including KYC records, PAN and Aadhaar details, credit reports, bank statements, loan applications and signed agreements.
- The group has also alleged access to insurance records, CRM data, employee information and internal audit logs. The bank has not confirmed these specific data categories were leaked.
- The bank said the suspected incident involves limited vehicle finance customer data on Salesforce's externally managed and hosted software-as-a-service platform.
- AU Small Finance Bank stated that its internal banking systems have not been affected and all banking services are operating normally.
- Reuters reported that the bank has not disclosed the full scope of the potential exposure or the specific information involved. The investigation is ongoing.
Piyush Goyal Says India's 2019 RCEP Exit Saved Manufacturing; Defends Proposed US Trade Deal
- Commerce Minister Piyush Goyal said India's decision to stay out of the Regional Comprehensive Economic Partnership (RCEP) in 2019 saved the country's manufacturing sector from what he described as a "death knell".
- Speaking at the ISID-IDRA conference in New Delhi, Goyal credited Prime Minister Narendra Modi for the decision.
- He argued that joining RCEP would effectively have amounted to entering a free trade agreement with China, according to The Indian Express.
- Goyal also defended the proposed India-US trade agreement, saying it would protect India's sensitive sectors.
- He expressed confidence that Indians would welcome the agreement once its details are made public.
Jio Platforms Becomes India's Fourth-Largest Margin-Funded Stock as Retail Investors Borrow ₹2,228 Crore
- Indian retail investors borrowed ₹2,228 crore ($234.06 million) through margin trading to purchase Jio Platforms shares on Wednesday, making it the country's fourth-largest margin-funded stock.
- Jio Platforms shares surged 26.7% on their market debut, valuing the telecom and digital business at approximately $137 billion and making it India's second-largest listed company by market capitalisation.
- Jio was classified under Group 1 securities by the NSE and Group A by the BSE on listing day, making it eligible for margin trading facility (MTF) funding immediately.
- Only HDFC Bank, Reliance Industries and BSE Ltd had larger outstanding MTF positions, according to exchange data as of October 28.
- Margin trading interest rates in India typically range between 9% and 18% annually.
- Jio Platforms Becomes India’s Most Widely Held Stock With Nearly 80 Lakh Shareholders After Record IPO
Jio Platforms Becomes India’s Most Widely Held Stock With Nearly 80 Lakh Shareholders After Record IPO
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Government Defends IDBI Bank Sale Process; Second Bidding Round Adds ₹3,917 Crore
- The Finance Ministry said it followed due process in the IDBI Bank disinvestment process, defending the transaction amid questions over valuation.
- The second round of bidding added ₹3,917 crore to the deal value, while the reserve price remained unchanged.
- On October 14, the Cabinet Committee on Economic Affairs (CCEA) approved the sale of a 60.72% stake held by the Centre and LIC to a Fairfax group entity for approximately ₹52,878 crore.
- The transaction remains subject to regulatory scrutiny by the Reserve Bank of India (RBI), including clearance for Fairfax.
- The government and LIC will retain residual stakes in the bank, allowing them to benefit from potential future value appreciation, according to the ministry.
India's EV Demand Surges During Navratri; Chip Shortages Push Waiting Periods to Eight Months
- Electric vehicle retail sales rose 26.78% during Navratri, even as passenger vehicle registrations declined 21.9%.
- Federation of Automobile Dealers Associations (FADA) representative Sai Giridhar said dealers are struggling to keep pace with EV demand amid semiconductor shortages, with waiting periods reaching eight months.
- The decline in passenger vehicle registrations partly reflects a high comparison base following GST cuts in 2025.
- Hyundai Motor India said EVs now account for approximately 8% of its sales.
- Maruti Suzuki's pending customer orders have increased to around 2.7 lakh vehicles, highlighting broader supply and delivery pressures in the auto market.
Bank of Japan Holds Rates at 1.25%, Signals Inflation Has Reached 2% Target; Accelerates ETF Sales
- The Bank of Japan (BOJ) kept its short-term policy rate unchanged at 1.25%, as widely expected, in its October 30 meeting.
- The decision passed by an 8–1 vote, with one board member favouring a 25-basis-point hike to 1.50%.
- For the first time since adopting its 2% inflation target in 2013, the BOJ said underlying inflation was "generally in line with the 2% target".
- The central bank raised its inflation forecasts and signalled it remains prepared to increase borrowing costs further to contain inflation risks.
- The BOJ also announced faster sales of its ETF holdings, raising the annual pace on a book-value basis from approximately ¥330 billion to ¥860 billion.
- The yen strengthened following the decision, with USD/JPY falling around 0.24% to 157.34. Investors are watching Governor Kazuo Ueda's guidance for clues about a possible December rate hike and the eventual peak of the tightening cycle.
- The decision followed rate holds by the Federal Reserve and European Central Bank earlier this week. Japan's benchmark rate remains below those of other major G7 economies despite reaching a 31-year high.
Binance Estimates $6.3 Billion Impact From Security Incident; Says $3 Billion in Assets Frozen
- Binance's initial investigation suggests the incident may have originated from a compromised DevOps engineer's laptop, allowing an attacker to access a service container and submit unauthorised withdrawal transactions.
- The exchange said it has found no evidence of any wallet private key leak. A detailed technical post-mortem will be published after the investigation is completed.
- Binance estimates the total financial impact at approximately $6.3 billion, with around $3 billion in affected assets frozen on-chain so far through cooperation with blockchain partners.
- The company said it will cover all losses using its SAFU fund and corporate funds, assuring users that their funds are safe.
- Deposits and withdrawals have been temporarily suspended as a precaution. Binance has also revoked the affected address authorisation.
- The exchange is working with law enforcement and blockchain intelligence partners to trace and recover assets and identify those responsible.
- Binance plans to publish an updated Proof of Reserves after completing the remediation process.
ANZ Raises Year-End Brent Crude Forecast to $105; Warns Oil Market Supply Balance Is More Fragile
- ANZ has raised its year-end Brent crude price forecast to $105 per barrel, from $95 previously, citing persistent supply and delivery constraints.
- Strategists Daniel Hines and Sony Kumari said the global oil supply-demand balance is more fragile than at the beginning of the Middle East conflict.
- Oil flows through the Strait of Hormuz have largely recovered, but actual transportation efficiency remains at around 60% of pre-conflict levels, limiting deliveries.
- Shipping constraints are making it difficult for the market to rebuild inventories, while strategic petroleum reserves have been depleted.
- Global crude oil spare capacity currently covers approximately 41 days of demand, down from around 45 days earlier this year.
- ANZ warned that any renewed escalation in the Middle East after the US midterm elections could push prices higher. Its $105 forecast assumes no further escalation, but that existing market constraints persist through year-end.
- Improved supply could also unlock demand previously suppressed by shortages, high freight costs and trade or refining bottlenecks.
BOJ Expected to Hold Rates at 1.25% in October; December Hike Remains Base Case for Most Strategists
- Sell-side consensus expects the Bank of Japan (BOJ) to keep its policy rate unchanged at 1.25% in October, with investors focused on its assessment of underlying inflation against the 2% target.
- Most major banks expect the next 25-basis-point rate hike in December 2026, although forecasts differ on the pace of tightening thereafter.
- Citigroup expects a December hike and sees the policy rate potentially reaching a terminal level near 2.0%.
- Goldman Sachs expects the BOJ to lower its FY2026 core CPI forecast but raise its FY2027 projection due to oil prices. It sees further hikes in January and July 2027.
- Bank of America expects a possible 8–1 vote, with one hawkish dissent, and projects rates reaching 1.75% in 2027. Wells Fargo also expects a December hike and a gradual move to 1.75%.
- ANZ forecasts 25bp hikes in December 2026 and March 2027, while Mitsubishi UFJ expects hikes in December 2026 and April 2027.
- Danske Bank also expects a December hike, while Brown Brothers Harriman sees the October hold as an opportunity to assess the impact of September's 25bp increase.