GROWTH HACKING
Binance $6.3 billion heist to prompt closer scrutiny by insurers
Following the $6.3 billion Binance heist, insurers are stepping up their scrutiny of cryptocurrency firms' security measures. During policy renewals, they will inquire about vulnerabilities exposed by the Binance incident. This reassessment could lead to new security prerequisites and an overhaul of risk evaluations. The event underscores the inadequacies of existing insurance solutions in the crypto landscape. Insurers will likely keep a vigilant eye on developments as the sector progresses.
Amagi, Shiprocket post profits; US polls’ impact on IT
Amagi’s Q2 profit surged nearly 30x while Shiprocket swung into the black for the first time. This and more in today’s ETtech Top 5.
Bitcoin rebounds with stocks despite threat to crypto agenda
Bitcoin rebounds more than 4% to above $81,000, tracking a broader recovery in financial markets after the US midterm elections. However, Democratic control of Congress threatens to stall crypto-friendly legislation and increase regulatory scrutiny. Investors are also weighing the impact of political uncertainty, Treasury yields and institutional adoption.
Democrats’ win rattles Trump trades from AI stocks to crypto
The recent Democratic majority in Congress triggered a downturn in global markets, most notably impacting technology stocks. Investors are now wary about President Trump’s policies and their implications for AI investments. Conversely, solar stocks saw an uptick, signaling potential changes to clean energy regulations. Additionally, Treasury yields dropped as heightened oversight dampens fiscal stimulus hopes, while cryptocurrencies also fell amid uncertainty surrounding upcoming industry regulations.
Fridge hacks and finance attacks flag AI insecurity
The growing use of AI in cyberattacks could pose a major threat to the global economy, financial markets and critical infrastructure, according to a Reuters commentary by Mike Dolan.
Ahead of Market: 10 things that will decide stock market action on Tuesday
Indian stock markets surged nearly 2% on November 2, with Sensex gaining 1,233 points and Nifty rising 388 points. Falling crude oil prices, strong corporate earnings, positive global cues and foreign investor buying boosted sentiment.
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Bitcoin rattled by biggest crypto heist in history! Why Warren Buffett and Charlie Munger hated cryptocurrency
A reported $6 billion crypto heist at Binance has rattled investors and revived concerns about cryptocurrency risks. Binance said its initial investigation pointed to a compromised DevOps engineer’s laptop, which may have enabled unauthorised withdrawals. The FBI blamed North Korea for the attack, while Binance said it would cover the losses.
Crypto cards enter RBI's radar as Indians use offshore wallets for everyday payments
Offshore crypto cards that allow Indian residents to spend digital assets on domestic purchases and withdraw cash have come under the scrutiny of the RBI and Financial Intelligence Unit. Several users have reported card deactivations in recent days, while authorities are understood to be examining potential violations of payment regulations and FEMA.
Amitabh Kant pitches for development model with rural communities as producers, innovators
Kant also stressed the need to transform rural India into centres of economic activity, innovation and entrepreneurship rather than limiting it to welfare delivery.
Quad to step up cooperation in AI, critical minerals
US Secretary of State Marco Rubio met External Affairs Minister S Jaishankar, Japan's Foreign Minister Toshimitsu Motegi and Australian Foreign Minister Penny Wong on the sidelines of the G20 Foreign Ministers' Meeting in Atlanta.
Wall Street drops to its worst day since June after the sell-off for tech stocks deepens
Wall Street’s tech sell-off deepened on Friday as investors questioned whether massive spending on artificial intelligence will deliver enough returns to justify lofty valuations. The S&P 500 fell 1.8% and the Nasdaq 2.9%, with Intel plunging nearly 29% and Nvidia down 4.2%, while bitcoin also slid after a major hack at Binance.
PB Fintech, Delhivery improve Q2 profits; Binance's $6.3 billion caper
PB Fintech on Friday reported a strong jump in profit and revenue for the July-September quarter. This and more in today’s ETtech Top 5.
Tech firms take fresh hit as earnings misses fan AI fears
Tech firms were again on the back foot Friday after another round of disappointing earnings from Wall Street titans fanned already deep concerns about the AI investment boom. "The concern isn't that AI demand has already slowed.
Global Market Today: Asian stocks slide as tech earnings disappoint, AI fears mount
The Kospi Index in South Korea — a key barometer of the AI trade — fell over 3% with chip heavyweights Samsung Electronics Co. and SK Hynix Inc. declining. That dragged the MSCI Asia Pacific Index down 0.3%.
Cyberattacks hit NBFCs; Pine Labs Q2 profit zooms
Cyber criminals are targetting smaller NBFCs with specialised AI toolkits. This and more in today’s ETtech Top 5.
Anthropic takes AI test with filing for Wall Street debut
Anthropic PBC has filed for an IPO, becoming a potential leader in AI technology. The company anticipates trading under the symbol ANT on the Nasdaq Global Select Market. Despite significant revenue growth, Anthropic warns future growth may slow due to market maturity and competition. The filing emphasizes the existential risks associated with advanced AI technologies, raising public safety concerns.
Swiggy’s Q2 report card; eMudhra to exit certificate biz
Swiggy continued on its growth trajectory while bringing down losses in Q2FY27. This and more in today’s ETtech Top 5.
AI fear makes companies look powerful and helps them raise funds: Andrew Ng
In an exclusive interview with The Economic Times Digital, Andrew Ng argues that the immediate challenge is to prepare people for work that increasingly involves AI. He notes that computer science students, who have never used a coding agent or are connected to an advanced AI model, even as those skills become essential, continue to graduate from universities.
AI rapidly improving, could vastly boost US GDP: Anthropic's Clark tells policymakers
Clark, speaking at IMF and World Bank annual meetings in Bangkok, said that international cooperation was needed to erect "unusual and serious rules" for the transformative technology, and there was a shrinking window for policymakers to act.
10-minute househelp startups & their crore-sized losses
Latest financials reported by Snabbit and Urban Company on Friday point to heavy cash burn in the race to deliver household services within 10 minutes. This and more in today’s ETtech Top 5.
Trump’s AI liability push opens blame game for models gone rogue
Holding AI developers financially responsible for the safety of their products has won support from Treasury Secretary Scott Bessent and former White House AI czar David Sacks, who argue that existing liability laws would be more effective than new rules.
ROSATOM and IIT Bombay launch "Atomic Hack India 2026" to solve next-generation energy grid challenges
JSC ETC GET has announced the launch of Atomic Hack India 2026, inviting engineering students to participate. This hackathon aims to address nuclear engineering challenges while integrating renewable energy sources in the national power grid. Participants will design a Zero-Sequence Directional Overcurrent Protection scheme using digital twin technology. Teams will compete in an online phase followed by a Grand Finale event at IIT Bombay.
EU vows AI rules will protect Europeans. Will they?
The EU says its AI Act is strong enough to address risks from advanced AI systems, including loss-of-control incidents, but lawmakers and experts warn of gaps around liability, enforcement capacity and access to cutting-edge models. Concerns are also growing over whether Brussels has enough technical resources and political appetite to aggressively police mostly US-based AI companies.
Sauce's Manu Chandra on consumer exits; Physical AI's regulation push
Sauce's Manu Chandra said he expects larger exits for investors of India's new-age consumer brands. This and more in today’s ETtech Morning Dispatch.
DigiLocker seeks private partners, Slurrp Farm's fundraise plans
DigiLocker is set to bring more institutions onto its platform with the help of private AI integrators. This and more in today’s ETtech Top 5.
Trump says top tech firms have signed accord to 'self-police' AI development
Trump and House Speaker Mike Johnson met with leading executives from top tech firms that are spending hundreds of billions of dollars to build out AI infrastructure, including data centres in communities across the country, which have sparked grassroots, bipartisan opposition.
Anthropic flags AI’s ‘existential risks to humanity’ as it seeks over $2 trillion valuation
Anthropic is preparing for Nasdaq listing amid concerns about AI's impact on humanity. The company highlights potential risks including manipulation and unpredictable behavior from advanced AI. Significant financial details are disclosed, revealing an anticipated $518 billion in future infrastructure spending. Despite operating losses, revenues have surged to $11.5 billion in the second quarter this year. Dario Amodei emphasizes the necessity of pacing AI development and enhancing safety measures.
Anthropic, OpenAI sound alarm on AI safety — and seek to shape how it's controlled
The CEOs of Anthropic and OpenAI recently declared America's cutting-edge models are so powerful, they're dangerous, and need to be regulated and independently tested before being released. In a rare instance of unity, they have sketched alarming scenarios in essays, social media posts and speeches to the United Nations.
Course correction? How the last 10 days changed the way we see AI
In a series of cascading events over a 10-day stretch, OpenAI and Anthropic, the largest AI labs, found themselves reeling as their own creations threatened to break humanity itself.
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