DAILY MAIL · 2026-10-31 08:09 UTC

The cyber-attack on Binance was the great awakening, says ALEX BRUMMER

Binance suffered a cyber-attack resulting in $6.3 billion in stolen cryptocurrency, highlighting systemic financial risks warned about by the Bank of England and IMF. Tech stocks experienced significant declines on 'Frightening Friday,' with Alphabet losing £400bn in market value as concerns grow over unsustainable leverage in the AI sector. The article argues that only cash-flow positive firms like Microsoft can weather the current tech downturn, while traditional energy, engineering, and banking stocks offer safer alternatives.

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