Shanny Basar (@shannybasar) header
Shanny Basar (@shannybasar) profile picture

Freelance journalist for @MarketsMedia. Returned to England in 2013 after 8 years in NY as US Correspondent for Financial News: shanny.basar@gmail. com

Rochester, England
Joined July 2009
Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)
Shanny Basar retweeted
For those not on Facebook: Brian Blessed’s tribute to Sir Patrick Stewart.
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Shanny Basar retweeted
As @ChairmanSelig pointed out in announcing the Reg CTX/CAM ANPRM, when FTX imploded, the offshore exchange went bankrupt while the CFTC-registered FTX US remained segregated and secure. Yesterday, more proof that crypto exchanges are best and safest when regulated by the CFTC.
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Shanny Basar retweeted
2026 has been the year of hacks. Binance incident isn't the first. Security has always been important, and in an AI world, is even more.
1/ More money has been stolen in crypto hacks in 2026 than in any year before. For all the worry about AI-powered exploits, the costliest failures were old-fashioned security lapses like leaked keys, compromised servers and vendor breaches rather than clever code attacks.
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Shanny Basar retweeted
JUST IN: 🇺🇸 CFTC Chair Mike Selig says the agency wants to offer crypto exchanges a federal registration option following the $6.3 billion Binance hack. 👀
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Buckingham Palace Honours Sir Patrick Stewart (1940–2026) with Star Trek Theme Tune 🕊️ The Band of the Grenadier Guards performs the iconic Star Trek theme at Buckingham Palace in honour of Sir Patrick Stewart, following the sad news of his passing. Queen Elizabeth II knighted Sir Patrick Stewart in 2010, recognising his outstanding contribution to drama and the arts 🇬🇧 🎥 @KingsGuardTours 📆 30 October 2026 📍 Buckingham Palace #SirPatrickStewart #StarTrek #GrenadierGuards #BuckinghamPalace #BritishArmyMusic
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Shanny Basar retweeted
Further to my post about @NYSE working to bring @HyperliquidX onshore, major credit to @ChairmanSelig and the Trump administration for making all of this experimentation possible. There’s only one way of finding out if something is useful to the marketplace and I’m excited for us to find out. I do have some questions: 1. What is the benefit of trading perps on-chain on a regulated exchange? Isn’t the main benefit of trading on-chain to operate in a trustless (aka non-kyc’d) environment in order to minimize friction, and/or to be able to enter into atomic transactions in order to receive what you are buying in realtime? Since a perp is not an asset, that obviously isn’t helpful. 2. @standuquesne - are you aware that if you trade on Hyperliquid, the world will be able to track your positions and trades in real time? Do you see that as a benefit? 3. Hyperliquid has priority fees - a mechanism that enables market participants to pay to see information first, or even prioritize orders in front of the queue. Is this consistent with CFTC core principles? 4. Will it be possible to combine the liquidity of the offshore order-book with the onshore order-book? 5. If not, wouldn’t it be better to list perps in a traditional (centralized) order-book on a regulated exchange and not have the inefficiencies that on-chain matching introduces?
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Shanny Basar retweeted
Largest hacks in history happening yesterday both in @CFTC jurisdiction and the agency’s sole commissioner is busy suing Utah over NFL parlays.
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Shanny Basar retweeted
Hyperliquid’s outsourced revenue model hit $38M last month and attracted major institutional partners. ICE, parent of the @NYSE, is now partnering with @tradexyz to build perpetual futures on Hyperliquid in the US. Outsourced revenue streams: 1. Deployer Perps (HIP-3): Third parties list perpetual futures on commodities, equities, and pre-IPO assets. 2. Builder Codes: @phantom, @hypurrdash, @fomo, and others route orders to Hyperliquid and earn fees. 3. USDC Reserve Yield: @coinbase passes 90% of reserve income from $6B in deposits to Hyperliquid. 4. Auctions: Fees from spot trading and token listing auctions. Interested in $HYPE? Grayscale Hyperliquid Staking ETF $HYPG offers exposure to $HYPE. Learn more here: etfs.grayscale.com/hypg
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Shanny Basar retweeted
I *really, really* want the SEC to assert its jurisdiction over KPI contracts and regulate them pursuant to the law -- with trade reporting and transparency. But that's functionally impossible with the CFTC's purported approvals (even though it lacks any legal authority).
The SEC is monitoring KPI contracts traded on prediction markets & other exchanges, including for insider trading, Enforcement Dir. David Woodcock tells @nicola_m_white & @rebeccaklar_ More on the SEC's growing role overseeing prediction markets: bloomberg.com/news/articles/…
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Shanny Basar retweeted
You don’t see these massive thefts in tradfi every month or two. Why? Government rules compel heightened safeguards. That’s it. Market stability and integrity are important.
The suspected Binance hack — said to be the biggest attack in crypto history — is "not the end of the world," says Ballet CEO Bobby Lee, who founded a major Bitcoin exchange in China. He says such heists are not new and suggests the multitrillion-dollar market can absorb the shock. bloom.bg/4iLKG8K
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Shanny Basar retweeted
West End theatres will dim their lights for two minutes at 7pm on Tuesday 3 November in remembrance of Sir Patrick Stewart, who has died at age 86. Stewart made his professional stage debut in 1959 at the Theatre Royal in Bristol. He joined the Royal Shakespeare Company in 1966, appearing in up to 60 productions, and later came to international fame through Star Trek: The Next Generation and many other screen roles. Knighted in 2010 for services to drama, Stewart received many awards for his work. He won Olivier Awards for Antony and Cleopatra (1979) and Hamlet (2009), while his one-man production of A Christmas Carol won Best Entertainment in 1994. 📸: Alastair Muir
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Patrick Stewart in lockdown reading my favorite sonnet, Sonnet 73, “That Time of Year Thou May’st in Me Behold.” RIP.
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Shanny Basar retweeted
I want to speak to you directly about what happened. Bottom line - your money is safe, and we're covering every loss. Our initial investigation suggests this security incident may have started with a compromised DevOps engineer's laptop. That gave an attacker access to a service container, where they submitted unauthorized withdrawal transactions. To be clear: the attacker did not simply use one engineer's permissions, and this was not a single "one-click" action. It involved a more complex attack process. Our investigation has not attributed responsibility to any individual. So far, we have found no evidence of any wallet private key leak. We'll share a detailed technical post-mortem once the investigation is complete and every fact is verified - and publish an updated Proof of Reserves once remediation is complete. What you need to know: • Your funds are safe • Binance will cover all losses from the SAFU fund and company funds • Estimated total impact: ~$6.3B, with ~$3B frozen on-chain so far, in coordination with our blockchain partners • No evidence of any wallet private key leak • Deposits are unaffected and operating as normal What we've done: • Temporarily suspended withdrawals while we complete a security revamp of the withdrawal service and its related addresses • Revoked the affected address authorizations • Engaged law enforcement and blockchain intelligence partners to trace and recover funds Our team hasn't stopped. We're working closely with law enforcement to ensure the matter is handled appropriately - and I'll share what I can, as soon as I can.
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Shanny Basar retweeted
SIR PATRICK STEWART (1940-2026) Before everything else, Patrick was defined by being born and bred in Yorkshire, the proud county in the north of England which he loved to the end. You could hear it in his accented voice and in the stern honesty with which he told you what he thought and felt. Yorkshiremen have no truck with half-truths or avoidance of big issues. He wore his heart on his sleeve, which made him a man to rely on, to admire and in my case, love. We first met as ambitious young actors with the Royal Shakespeare Company half a century ago but we weren’t in the same productions. My first strong memory was a few years later, meeting him in the street in central London when he told me about an offer to take over a leading part in 'Star Trek'. “But Patrick think of your stage career in the UK. Do you really want to risk—getting lost in Hollywood for years and years?”. Well, he took the risk and thank goodness for us all that he did for not just his devoted Trekkies but film and theatre audiences, who marvelled at his using international celebrity to star in a string of cinema successes ('X-Men' of course) and in great classical plays by Shakespeare, Ibsen, Arthur Miller, Peter Shaffer, Pinter and Beckett at Stratford-upon-Avon, in London’s West End and on Broadway. America was his adopted home, where he met his adored Sunny who has cared for him through sickness and health, through thick and thin. But he never forsook his origins: and the proudest achievement of the most respected and beloved actor of his generation on either side of the Atlantic, was his appointment as Chancellor of Huddersfield University in Yorkshire. His farewell performance in 'Avengers: Doomsday' is yet to be seen. Ian McKellen 29 October 2026 Photo: University of Huddersfield
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Shanny Basar retweeted
quick ones 1) Binance has enough to withstand 3-4x of current hit and still be largely intact. Very likely they will shrug this off and user funds are very likely safu (but like obviously don’t deposit until they sort out what went wrong) 2) Wintermute obv has exposure to binance, but less than 20% of net equity and I don’t see any disruption to our operations on any time horizon in whatever scenario
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Shanny Basar retweeted
Our investigators observed funds stolen by DPRK in last month's Bitget exploit commingling with funds stolen from Binance. We have a high degree of confidence that DPRK is responsible for the $6.4 billion hack of Binance.
We live in unprecedented times. But DPRK are up to their old tricks. We assess @binance hack for $6.4B was likely done by DPRK group TraderTraitor due to links to previous hack. Industry partners have already frozen ~$3B and we @chainalysis continue to follow all of the funds
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Shanny Basar retweeted
THE BLOCK: Coinbase's Q3 revenue declined 35% year over year to $1.22 billion. The results included a $715 million gain on crypto assets held for investment, compared with a $424 million gain in the year-ago quarter. Prediction markets surpassed $200 million in annualized revenue, while paid Coinbase One subscribers reached a record high.
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