Tech Selloff Intensifies on Earnings; Binance Estimates $6.3B Hacked



US equity futures slump after disappointing earnings from Amazon and Intel. Binance estimates $6.3 billion was stolen in a hack, the largest to hit the digital-asset industry. The Bank of Japan signals a potential rate hike in December after hitting its inflation target. Jane Foley of Rabobank joins “Bloomberg Brief” to discuss the current risks in the FX market, including ECB President Christine Lagarde’s plan for an early departure.
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16 Comments

  1. In March 2025, The Wall Street Journal uncovered that the company Binance was in talks with Donald Trump's family about business dealings. In August 2025, The Wall Street Journal found that Binance was quietly administering a trading platform for the Trump family's World Liberty Financial. The company paid lobbyists $800,000 to lobby for a pardon of Binance founder Changpeng Zhao from President Trump, which was granted in October 2025.

  2. KEEP EXPOSING "THE FED" AS FRAUD ARTISTS.
    DON'T ACCEPT THAT "FED MUMBO JUMBO". INSIST ON REAL WORLD FACTS TO BACK UP CLAIMS MADE BY "THE FED".
    PROFESSOR RICHARD WERNER CLAIMS THERE IS NO "REAL WORLD EVIDENCE" THAT WHAT "THE FED" IS TALKING ABOUT IS TRUE.
    AFTER THE PUBLIC BAIL OUT OF THE BANKS IN 2008, "THE FED" HAS BECOME REDUNDANT. TAX PAYERS ARE NOW THE LENDERS OF LAST RESORT.
    NOTE THAT PRESIDENT TRUMP IS ANTI-FED. HE IS GOING AGAINST "THE FED" "JACKSON STYLE".
    LET PRESIDENT TRUMP DO HIS JOB AND FREE THE USA OF THE PARASITE "THE FED".
    FIGHT THE RIGHT FIGHT.

    Bank War – Wikipedia

    The Bank War was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.U.S.) during the presidency of Andrew Jackson (1829–1837). This resulted in the shutdown of the Bank and its replacement by state.

  3. Iran’s refusal to surrender to the Trump regime as the threat of military escalation grows. Iran’s parliament speaker rejects Washington’s carrot-and-stick approach and lays out seven conditions for an agreement. Meiselas also examines footage Iran released claiming to show the destruction of three tankers and an aircraft in the Strait of Hormuz, along with Iran’s efforts to expand freight and rail routes connecting it to China and other countries.

  4. During a Senate Banking Committee hearing, Senator Elizabeth Warren went face-to-face with Lindsey Johnson, the head lobbyist for the Consumer Bankers Association, over Donald Trump’s public promise that major banks would voluntarily cap credit card interest rates at 10%.

    Instead of letting the corporate talking points slide, Warren pressed with a simple, direct question: *Which banks actually did it? Can you name just one?

    What followed was complete silence. The lobbyist couldn’t name a single institution, because not one commercial bank followed through. Warren then laid out the real financial toll on everyday Americans: an estimated $57 billion paid in excess interest charges above that proposed 10% rate—totaling roughly **$368 million every single day coming out of working families' pockets.

  5. The national average price of diesel has surged roughly 70% year-over-year, reaching $6.35 per gallon (an increase of $2.69 per gallon compared to last year).

    Key Factors Behind the Surge

    • Global Disruptions: Conflicts impacting the Strait of Hormuz, attacks on oil infrastructure in the Middle East, and Ukrainian drone strikes degrading Russian oil refineries have severely restricted global crude and refined fuel supplies.
    • Export Shortfalls: Russia (a major global supplier of diesel) has pulled back on exports due to domestic refining losses and fuel rationing.
    • Market Pressures: Wholesale diesel futures have climbed sharply, with analysts noting that high baseline prices are affecting logistics, farming, and freight nationwide.

    Real-World Impacts

    • Shipping & Delivery: Major carriers like FedEx and UPS have implemented fuel surcharges of up to 30% to absorb spiking transport costs.
    • Retail & Consumer Goods: Higher freight and shipping expenses are driving up costs for everyday retail items, clothing, and holiday goods.
    • Regional Variations: Prices vary widely, ranging from around $5.87 per gallon in parts of the South to over $7.15 to $8.37+ per gallon in the West and California.

  6. Re: AI I'll note that it is something being pushed and promoted by the people making it, ordinary people don't care that much or don't want it at all. It's also apparently responsible for most of our GDP growth. It's also causing a lot of 'inequality' in the stock market, with a small number of companies producing incredible growth and results, while the majority of companies get less capital, grow much more slowly, so the rich get richer and the capital gets channeled to chips and data centers, while ordinary people struggle to pay for housing, healthcare, and inflation stays high.
    AI capital investment all heavily focused on super tech heavy exquisite stuff. I don't think that's going to spread through the economy, especially over the long term, in terms of giving ordinary people better living situations, imagine yourself in the AI ecosystem and you are either high up management or you are delivering chips, building power plants and data centers, electrical grid, really all jobs that anyone would happily devote their life to, giving the good pay and long term financial security that probably isn't on offer for anyone doing the work.
    Oh, and also, AI seems to have an endless demand for energy. Something we'd been hoping to use less of. Take it from the man.

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