The Biggest Heist In History

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Happy Monday, Future Party. Hope everyone had a great Halloween! While we’re supposed to be getting back to work, we think we might just now be crashing from the sugar high. Maybe workplaces should take a cue from those public schools that give students the day off after Halloween — the first weekday after Halloween should always be a holiday. We could all use another long weekend.

Hackers linked to the North Korean government stole $6.3 billion from Binance’s digital wallets.

The Big Crime: Binance is the world’s largest crypto exchange — it processed about $34 trillion in trades last year, and $167 billion is held in the company’s digital wallets. So, its security controls are supposed to be among the best in the industry. A heist of this magnitude has sent shockwaves throughout the crypto industry… and has already rattled crypto markets.

Behind The Crime: Tom Robinson, co-founder and chief scientist at blockchain intelligence firm Elliptic, called the heist “almost certainly the single largest known theft of any kind.”

Here’s how it went down:

Lasting Damage: Binance founder Changpeng Zhao (a financial felon himself) went on the defensive Friday, saying the company would cover all affected users’ losses in the exact tokens that were stolen, partly through its emergency reserve, the Secure Asset Fund for Users (SAFU). Unfortunately, the $1.23 billion SAFU reserve is held in crypto, and WSJ estimates the fund has already lost $100 million in value, meaning the company will need to pull from other sources to cover the losses.

So far, Binance says it has stockpiled 80% of the various types of tokens that were stolen… so recovery appears to be moving relatively quickly.

The Future: The hack has likely spooked crypto holders around the world, so expect many to move a portion of their coins into offline wallets — something like a crypto piggy bank.

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New Yorkers are hitting the town for a new kind of literary event — community-driven, audiobook-style readings.

Why It Hits: New York is the literary capital of the US and, arguably, the world. Still, the classic live reading has lost much of its appeal in recent years as events compete with a growing selection of interactive entertainment options. As society grapples with a steep drop in reading rates, anything that gets people cracking open a good book (or listening to someone crack open one) is a win-win.

Between The Pages: The book reading is getting a podcast-like makeover.

Here are a few events that have recently taken off, per Bloomberg.

Last Chapter: Audiobooks have been around in some form for decades, but have really taken off as platforms like Spotify, Audible, Apple Podcasts, and now YouTube have entered the space. Reading the City newsletter writer Tyler Wetherall notes that audiobooks now account for 29% of checkouts at the New York Public Library, up from 20% in 2020.

Even when they’re busy, people still want to sneak in a book somehow.

Next Novel: Live audiobook readings could mint a new generation of voice stars. It looks like TV hasn’t killed the radio star after all.

51.9% of you voted No, I’ve never used either in Friday’s poll: Do you use DoorDash or Instacart?

“I live in a rural area. Neither services it.”

“I do my own ‘dashing’ and choose my own items to put in my ‘cart.’ I can’t trust anyone else not to bruise my bananas or get the best special when cereal is buy two, get a free half-gallon of milk!”

“I appreciate that these services exist, but at this point in my life, I enjoy going out to get food. Ask me again in about 20 years.”

“My local grocery store used to subcontract to Instacart until they started offering their own pickup service. That’s the only time I used it. DoorDash doesn’t deliver to my home.”

“I try to get delivery directly from restaurants, but when I can’t, DoorDash is my go-to. As for Instacart, it was useful during the pandemic, but it is way too expensive for normal life.”

“I rely on Instacart for 7 to 10 orders per week… it’s a lot, but I feel good being able to tip real people.”

Let’s keep the conversation going. Join Poll Of The Day, so your opinions can shine. Discover how your views line up with your peers’, check out cool insights, and have some fun. It’s data with personality.

💰 Drake is rumored to be negotiating a record-breaking deal that could extend his partnership with UMG.

📺 Amazon CEO Andy Jassy says Prime Video is turning a profit and is on pace to generate tens of billions of dollars in annual revenue.

🔈 You can now play official Star Wars character voices and sound effects through a licensing deal between Disney and Spanish tech company Voicemod.

🎲 Kalshi secured $1 billion in fresh funding from investors led by Wellington and Sequoia, bringing its valuation to $40 billion.

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🕺 Sony has unveiled a device that displays 3D avatars on your desk without requiring special glasses.

🤳 Instagram is reportedly offering select YouTube creators as much as $500,000 to share long-form videos through its new Features format.

🍫 MrBeast has promoted Beast Industries president of consumer goods Michelle St. Jacques to his company’s first CMO.

🤖 Reddit plans to put browsing behind a login as AI-powered search eats into its traffic. Thanks, AI.