Good afternoon and welcome to Markets Desk, your midday read on what's moving markets right now.
Crypto markets are absorbing a historic shock after hackers drained roughly six point three six billion dollars from Binance in a twenty-minute window on October twenty-ninth, two thousand twenty-six, shattering previous theft records by more than fourfold. The exchange has begun a second withdrawal phase, with additional assets set to become available from four hundred hours UTC Tuesday as security checks are completed, though outflows have begun to slow from their peak. Into that uncertainty, Cathie Wood's Ark Invest moved with conviction, purchasing three point four million dollars of Coinbase shares, two point six million in Circle, and just over six hundred forty-five thousand dollars in Robinhood on Monday, signaling that institutional appetite for crypto-linked equities remains intact despite the turbulence.
Shifting to the macro picture, the Reserve Bank of Australia raised its benchmark rate to an eighteen-year high in its fifth hike of the year, staying squarely in line with economist expectations as the central bank continues its inflation fight. The move reinforces the broader global theme of higher-for-longer policy rates, keeping pressure on risk assets and reminding markets that central banks have not yet declared victory.
That's the tape. Markets Desk, signing off the floor.
