U.S. stocks closed lower on Thursday as Alphabet sank 12% after its third-quarter results, pulling the Nasdaq down 1.38%. The S&P 500 fell 0.3% and the Dow lost 132.54 points.
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Binance said it is investigating a potential security issue after large outflows from its hot wallets, which on-chain trackers cited by CoinDesk and others put at roughly $5.5 billion to $5.8 billion. Binance said user funds are safe.
Reuters reported that Kalshi wrapped a $1 billion Series G round at a $40 billion valuation while non-sports markets surpassed $1 billion in annualized revenue. The milestones coincide with new NBA and S&P Dow Jones Indices ties even as Utah and the CFTC pursue separate actions over sports contracts.
European Central Bank President Christine Lagarde will step down on February 7, 2027, about nine months before her eight-year term was due to end, the ECB said Thursday. European Council President António Costa said the process to appoint her successor under Article 283 of the EU treaty begins immediately. No successor has been named.
FuriosaAI said it closed a $620 million (KRW 820 billion) Series D at a $2.9 billion post-money valuation, according to its blog. Bloomberg reports Korea's National Growth Fund put in about $280 million (KRW 370 billion) and international investors $110 million, with Infinitum the largest overseas backer per Korean press. The company says its RNGD accelerator is in mass production and it will produce 20,000 cards this year.
The Federal Reserve kept its benchmark rate in a 3.75% to 4% range on Wednesday, with two officials dissenting in favor of a hike. U.S. stocks closed slightly higher for a third straight day, while the 10-year Treasury yield rose above 5%.
