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Recent Editions
Risk Channel
North America
Binance, the world's largest cryptocurrency exchange, has said it is working with partners to freeze affected assets in a security breach that has resulted in an estimated $6.3bn impact. The firm said it had located about $3bn so far, and has not updated on the status of the remaining $3.3bn. "This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it," Binance wrote on X. AFP notes that Binance earlier posted sometimes contradictory messages, insisting that "user funds are completely safe" but also saying it would "cover all losses." Two analytics firms have attributed the incident to a North Korean hacking unit called TraderTraitor. Binance, which was founded in China in 2017, allows users to trade digital assets and is estimated to have more than 300 million registered users worldwide. Binance.US, which provides trading services specifically for American residents, said its platform is not affected by the incident.
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Risk Channel
UK/Europe
European Central Bank (ECB) President Christine Lagarde has announced that she will step down on February 7, 2027, approximately nine months before her eight-year term expires, triggering a leadership succession process amid economic uncertainty and financial market volatility across the eurozone. The announcement came hours before the ECB held its deposit rate at 2.5%, as instability in France’s bond market continued to affect regional borrowing costs. Although no official reason was provided for Lagarde’s early departure, speculation has centred on allowing European leaders to appoint her successor before France’s April 2027 presidential election. Potential candidates include former Bank of Spain Governor Pablo Hernández de Cos, former Dutch central bank chief Klaas Knot, and Bundesbank President Joachim Nagel.
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