Quote post: @business on the FBI tying North Korea to the $6.3 billion Binance hack
The FBI says North Korea ran the $6.3 billion Binance hack. It took about 20 minutes, or over $300 million a minute. Binance already replaced 90% with its own money, about $5.7 billion. I think the refund is the real story. That's a bank nobody regulates like one.
https://x.com/business/status/2116653977991282723
Sources: Reuters via NBC News: FBI blames North Korea; Binance replaced 90% of the $6.3B with company money · AP: FBI says North Korean hackers behind Binance crypto heist · NPR: hackers took just over $6.3B in about 20 minutes · Cybersecurity Dive: TRM Labs says it took roughly 20 minutes to steal most of the money
Not financial advice. For informational and educational purposes only.
Eli Lilly posts $24.4B Q3 and raises 2026 guide to $91B-$92B; the midpoint implies Q4 revenue of ~$24.3B, flat with Q3
Eli Lilly (LLY) reported $24.4B of Q3 revenue on Thursday, up 39% from a year ago. It also lifted…
Intel falls ~29% Friday on a weak Q4 guide; even adding back the ~$300M Israel fab hit, the midpoint is ~8% short of consensus
Intel (INTC) fell nearly 29% on Friday, its worst day since 1974, after guiding Q4 revenue to $15B to…
Two February Peaks, Two Shocks
The S&P 500 peaked at 3,386 on February 19, 2020. It peaked again at 6,144 on February 19, 2025.
The S&P 500 peaked at 3,386 on February 19, 2020. It peaked again at 6,144 on February 19, 2025. That is the same calendar date, five years apart, and each peak came right before a very different shock. The 2020 top was followed by a 33.9% collapse…
AI Capex Is Splitting Free Cash Flow Margins Across 11 Tech Names
$NVDA recorded $302.97B in trailing twelve-month revenue and a 41.9% free cash flow margin, 5.1 percentage points below the 47.0% of the four…
$NVDA recorded $302.97B in trailing twelve-month revenue and a 41.9% free cash flow margin, 5.1 percentage points below the 47.0% of the four quarters ending one quarter earlier. Nvidia still leads the tracked group by margin, with about $127B in TTM free cash flow.