Chris Campbell:

North Korea Steals $6.36 Billion From Binance in the Largest Hack in History

On Thursday, an attacker moved approximately $6.36 billion out of Binance wallets on 10 blockchains, most of it in about 20 minutes. That makes this the largest crypto theft on record, about four times the $1.5 billion Bybit hack of February 2025. Binance has confirmed a security incident and suspended withdrawals on several networks.

Cryptocurrency-forensics company TRM attributes the attack to TraderTraitor, North Korea's elite hacking unit, based on robust on- and off-chain intelligence.

On Ethereum, the attacker turned a Binance hot wallet into a sweeper it controlled, with 50 pre-signed authorizations prepared in advance. In the same window, Binance wallets on the other nine chains sent funds to the attacker through ordinary signed transfers. In TRM's assessment, this points to a compromise of Binance's hot wallet signing infrastructure.

Tether, Circle, Ripple and World Liberty Financial froze about $2.67 billion in stablecoins, and Arbitrum's Security Council froze 8,426 ETH and 74.6 million ARB on its network, for a total of roughly $2.7 billion. The attacker raced the freezes by selling USDT to market makers and borrowing ETH against USDT on Aave. It now holds more than 420,000 ETH and 18,270 BTC, about $2.4 billion in assets beyond any issuer's reach.

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Davis Wilson:

The Hidden AI Fortunes Inside Big Tech

With Anthropic preparing to go public, one of the biggest questions on Wall Street is what the company will actually be worth. $1.5 trillion? Maybe even more?

But nobody seems to be asking: Who else benefits from Anthropic's massive multi-trillion-dollar valuation? Because some of the biggest publicly traded companies in the world already own huge stakes in Anthropic.

Amazon (AMZN) owns an estimated 15-20% stake in Anthropic. Alphabet (GOOG) owns another estimated 15%. And Anthropic isn't the only AI company with heavyweight backers.

OpenAI would likely fetch a similar valuation and has an equally impressive investor list. Microsoft (MSFT) owns 27% of OpenAI. Amazon (AMZN) reportedly owns 5%.

Think about that for a second. If Anthropic and OpenAI eventually become two of the most valuable companies in the world, big tech stocks will be some of the biggest winners.

I already like the stocks of Amazon, Microsoft, and Alphabet. But the fact they also own meaningful stakes in two of the world's most valuable AI companies makes them even more attractive. Just remember, these ownership stakes won't remain hidden forever.

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Enrique Abeyta:

NVIDIA: The Biggest Stock Massacre in History

NVIDIA is about to lose investors more money over the next three years than any stock in human history. And before you click away thinking, "Good thing I don't own NVIDIA"… You almost certainly already do. The chipmaker makes up nearly 8% of the entire S&P 500.

Millions of Americans are in the exact same position. Their retirements are chained to the fate of a single stock.

NVIDIA could remain the world's leading AI chipmaker for years. But Wall Street has set expectations so high that even this extraordinary company may struggle to meet them. Even a small shortfall, paired with weaker guidance, could force analysts to cut future earnings estimates, causing the stock to fall.

And these expectations come as customers face growing financial pressure, data center projects are falling behind schedule, and competition is heating up.

That's why I believe NVIDIA is headed for a historic destruction of shareholder wealth over the next three years. A 30% decline in NVIDIA's stock is not unreasonable. At a market value of roughly $5.25 trillion, that would erase about $1.6 trillion in shareholder wealth.

And the consequences won't stop there.

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