Bloomberg reported that Goldman Sachs, Citigroup, Banco Santander, Deutsche Bank, and other firms have committed around $270 million to a joint stablecoin venture. The money is intended to cover roughly five years of operating costs for a new U.S.-incorporated company that will issue a dollar-denominated stablecoin. The project is internally codenamed “Project Faro.”

Bloomberg reports that prospective investors now value @AnthropicAI at $1.2–1.3 trillion ahead of its IPO, with some as low as $1.1 trillion. 📉 A month ago, expectations were around $2 trillion. Formal marketing starts next week, so this isn't a settled IPO price, but it's a sharp reset.

Bloomberg reports that hedge fund Walleye Capital plans to return part of its capital to investors. Some context: Walleye reportedly lost nearly 6% in October and is now negative for 2026. Why does this matter given today's correction? When leveraged hedge funds reduce the capital they manage, they may also need to reduce their positions. That means selling longs, covering shorts and unwinding trades. If enough funds are doing this simultaneously, selling pressure can accelerate, even in companies where nothing fundamentally changed. Now, returning capital doesn't necessarily mean forced liquidation. We also have no evidence that Walleye is responsible for today's selloff. But I think it's worth watching. The market was already under pressure, particularly AI and semiconductor names. If leveraged funds start reducing exposure on top of that, things can get ugly pretty quickly. The question is whether we're simply seeing investors reassess valuations or whether deleveraging is starting to amplify the correction.

Bloomberg journalists answer your questions about India’s growing role in the global arms trade amid geopolitical complications in a Live Q&A on October 29, 2026 at 2pm IST, 4:30pm HKT, 8:30am GMT

BLOOMBERG: MARVELL $MRVL IN ADVANCED TALKS TO BUY $LITE LUMENTUM HOLDINGS is this how they get to $1T as Jensen said a while back? both in the optics business… Lumentum $82B marketcap…Marvell $220B this is a weird one $LITE +12% $MRVL -10%