Crypto News: Hacked within hours

Good morning. OpenAI models breached Hugging Face’s system in just hours. Not all Gen Zers are nihilists. And the menopause gold rush is leaving women behind. Listen to the day’s top stories.

— Angela Cullen

Market Snapshot
S&P 500 Futures	7,521.25	-0.3%
Nasdaq 100 Futures	29,101.00	-0.3%
WTI Crude Oil Futures	$90.34	+4.0%
Market data as of 06:58 AM ET. Data is subject to provider delays.	Your watchlist

Lightning speed. It took OpenAI’s advanced models a matter of hours to breach AI startup Hugging Face’s internal systems last week, a hack that would have taken a skilled human far longer, people familiar with the matter said. AI jitters returned to markets on Thursday, as Alphabet’s spending plans sent Nasdaq futures lower. Tesla’s AI ambitions also drew skepticism, propelling its shares into decline premarket.

Brent closed in on $100 after the Houthis said they attacked two Saudi Arabian tankers in the Red Sea, opening a new front and threatening deeper supply disruptions. Gold held onto its gains as dip-buying offset inflation fears stemming from the conflict. Keeping one of the world’s most enticing arbitrage opportunities largely off limits, SK Hynix capped the amount of its South Korea-listed shares that can be converted into US-traded American depositary receipts at 2.5% of the total outstanding.

US lawmakers are pressing President Donald Trump’s team to close a loophole they say the administration created in China tech restrictions, but which a key agency denies exists. It’s yet another example of the persistent confusion surrounding Washington’s efforts to limit China’s AI prowess.

Weak Dollar Squeezes Coffee, Banana and Potato Chip Exporters in Latin America

If at first you don’t succeed... SpaceX will again attempt a major test of its massive Starship rocket today after abandoning takeoff last week. The setback exposed investors to the risks of the company’s rocky development cycle and heightened the stakes for the critical milestone.

Deep Dive: Saving for Life

Gen Zer Natalie Baddour — Natalie Baddour with her 2008 Honda CRV in Fort Lauderdale Florida.

Not all Gen Zers are the financial nihilists they’re made out to be. A cohort known for looks-maxxing and vibes-maxxing is now retirement-maxxing as well.

At a time when many Gen Zers revel in the risk of prediction markets and crypto, some are taking the exact opposite approach, opening retirement accounts earlier than prior generations and squirreling away the maximum permitted each year.
Their impulse may stem from the same pressures that have led peers to embrace risky investments in the anytime, anywhere age.

The Big Take

Trump insiders helped shape the first US crypto law that benefited Tether, the world’s dominant stablecoin issuer, according to court filings and observers.

Opinion

Automation will be crucial for a manufacturing recovery.

Evidence is mounting that a US industrial rebound is taking hold and broadening to sectors beyond the data-center boom, writes Thomas Black. Electricity capacity and worker training must increase to keep the momentum going.

More Opinions

Gautam Mukunda

AI Has No Future Without Credible Regulation

Andrea Felsted

AI Riches Can Supplant Crypto to Fill the Luxury Gap

Shanghai’s World Artificial Intelligence Conference

John Authers

From Napoleon to Moonshot, China Is Doing It Again

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Before You Go

Yasmin Harris at her home in Aurora, Colorado.

Hormonal treatment for menopause is creating a medical industry gold rush, despite a poor track record of confronting the condition. “Women have money, women want solutions,” said urologist Kelly Casperson.

A Couple More