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)
Shanny Basar retweeted
LATEST: French bank Crédit Mutuel Arkéa confirms it was hacked for $133M+ in crypto, with @zachxbt tracing $108.8M in $USDC withdrawn from @Krakenfx, @cryptocom and @OKX accounts over 21 hours, then converted to $ETH to avoid stablecoin freezes.
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Shanny Basar retweeted
Kansas has a Democratic senator. The last time this happened, the Wizard of Oz hadn't even come out yet
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Shanny Basar retweeted
Big news for US finreg.
The House Financial Services Committee is on track to lose roughly half of its Republican members — some through retirements, but several who were voted out tonight. That includes multiple subcommittee chairs.
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Shanny Basar retweeted
Montana voters approved a ballot measure to ban corporations, nonprofits and labor unions from doing business in the state if they made political contributions. State's rights v. Citizens United. Will be fun to see SCOTUS deal with that one. Bravo Montana!!!
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Shanny Basar retweeted
"This is the beginning of the end for Donald Trump." My column on tonight's astonishing results. ft.com/content/0a9d5d07-bc57…
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Shanny Basar retweeted
Whas happened in the South from Virginia to S Carolina to Texas . LBJ knew he'd lost the south by supporting the Civil Rights Act and Voting Act - it's taken 60 years for that to go into reverse - and a glorious thing that it has. In Georgia, a black Governor...
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Shanny Basar retweeted
Nik Storonsky's Revolut has closed its $115bn share sale Revolut is now Europe's most valuable private fintech, and the second most valuable UK bank after HSBC. Barclays is worth about $74bn and Lloyds about $71bn. (Although the comparison sets a private sale price against public market caps, and Revolut hasn't said how many shares changed hands.) Yes, arguably private markets have a premium, but consider they had a revenue of $6.0 billion with a profit before tax of $2.3 billion. Compare that with their UK peers. That makes - Revolut at 29% margin, 35% RoE - Natwest at 23% margin, 21% RoE - Starling 17% margin, 15% RoE - Barclays 14% margin, 12.5% RoE - HSBC 13.5% margin, 15.5% RoE - Monzo 5% margin, 4% RoE That's QUITE a lead, and it's one Revolut is improving over time with AI. --- Revolut called it a secondary sale when the process opened in July, which means employees and early backers sold shares to new investors at $2,017 each. We're about to see a lot of founders and investors that are former Revolut. Glade Brook, Coatue, Durable Capital, T. Rowe Price and Baillie Gifford led the buying. The price is 53% above the $75bn of last November. --- Revolut is going global: Since January, it has launched banks in the UK, Mexico, Australia and New Zealand, won banking licenses in France, Colombia and Argentina, and got conditional approval for a US national bank charter. Each license lets Revolut hold deposits in its own name in another country. Each one also brings its own regulator and its own capital to tie up. --- Revolut has now run a staff share sale three years in a row, at $45bn, $75bn and $115bn. Stripe does the same. Its tender offers valued it at $91.5bn in February 2025 and $159bn this February. These two, plus possibly Ramp, are entering escape velocity and may stay private perpetually. (Although when I spoke to the Ramp CEO he said he does see going public as an ambition some day) Two of Revolut's leads, T. Rowe Price and Baillie Gifford, are fund managers known for owning listed stocks. In September CEO Nik Storonsky told Les Echos he's weighing a dual listing in London and New York. An annual secondary now does three of an IPO's jobs. Staff get cash, the company gets a price, and the funds that buy IPOs get on the cap table early. The listing will be the first time the whole market sets Revolut's price.
🤖 Made with AI
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Shanny Basar retweeted
BREAKING: SWEET REVENGE! The Navy Admiral who Pete Hegseth fired DEFEATS her MAGA opponent to win a House seat in South Carolina — cementing the blue tsunami with a poetic flourish! This is just too beautiful... Democrat Nancy Lacore, a 35-year Navy veteran who rose through the ranks from helicopter pilot to become Chief of Navy Reserve, was fired in August of 2025 amid Hegseth's purging of high-ranking women in the military. While no official reason was given, the deeply misogynistic Hegseth has not been coy about his caveman belief that only testosterone-injecting men should serve. Lacore has now defeated Republican Jenny Costa Honeycutt to seize a seat that was formerly held by MAGA lunatic Nancy Mace who launched a failed bid for the governor's mansion this year. Lacore has not been shy about criticizing Hegseth's disastrous mismanagement of the Defense Department, particularly his failed Iran War. "Pete Hegseth is the most unqualified Secretary of Defense that we have ever had, and he is doing significant damage to our military that it will really take decades to undo," she said, adding that he "needs to go." The most beautiful irony here? Congresswoman Lacore could soon be voting with the rest of the Democratic majority in the House to impeach Pete Hegseth. We have subpoena power starting in January, so we'll be able to uncover all of the gross negligence and rampant criminality that he's overseen. Ain't karma grand? Please ❤️ and share if you support impeaching Pete Hegseth!
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Shanny Basar retweeted
Free election ad material for Labour and the Tories.
"I don't go with the consensus that Trump is going to get smashed." Nigel Farage is joined by the Daily Wire's Michael Knowles as Americans head to the polls in the midterm elections.
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Shanny Basar retweeted
Now official… Democrats just won every single statewide office in Texas: Senate Governor Lt. Governor Attorney General Land Commissioner Comptroller of Public Accounts Agriculture Commissioner Railroad Commissioner All 4 Supreme Court Justices
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BREAKING: Democrat Abdul El-Sayed wins Michigan’s U.S. Senate race, becoming the first Muslim senator in American history.
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Shanny Basar retweeted
Vibes in America tonight.
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Shanny Basar retweeted
🚨ABDUL EL-SAYED TROLLS JD VANCE AND TRUMP IN HIS VICTORY SPEECH: EL-SAYED: JD. Habibi. There is this delicious irony in the fact that you're constitutionally obligated to swear me in in January. So you know what that means, Wolverine one, Buckeyes zero. Donald, look, I, I know you, you struggle with my name, so after JD swears me in in January, you can just go on and call me Senator.
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Shanny Basar retweeted
Elon Musk was among the biggest losers of election night. He doled out around $446 million — the most a non-candidate has ever spent on an election — but his preferred candidates were swamped, losing almost everywhere. politico.com/storyline/live/…
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Shanny Basar retweeted
🚨 Democrats win both houses of Congress. Quickie rundown on the effects for foreigners who don't follow US politics that closely, on what changes and what doesn't: 1) Domestic politics: Significant effect. Democrats can block Trump nominees -- including judges. Tonight's result might have prevented a 6-3 or 7-2 lock on the Supreme Court for another generation. Democrats can block his bills. Heck, they can even pass bills if there are topics where Trump wants to play ball with them. Don't hold your breath on the latter. Likeliest result is legislative inertia and constant conflict between White House and Congress. Most immmediate change: new investigations into (waves hands) ... everything we've witnessed over the last two years. Tonight's result also opens up a 2028 path for an I-told-you-so Republican -- on the war and on the alliance with big tech. Like DeSantis and maybe others. 2) Foreign affairs. Memo to Planet Earth: Here is where the legions of Trump haters around the world are likeliest to be disappointed. Tariffs? War? Threats to annex other countries? The US constitution, in theory, gives Congress control of these things like trade and war and presidential abuses. In practice, the founders did not anticipate the impossibility of cobbling together a 67% veto-proof majority on just about any contentious topic, let alone on impeaching and removing a president who ignores the constitution. So the president does what the president does. But I'll end with a caveat: Democrats now have the power to investigate. To hold hearings on things like: Why did Trump turn on Ukraine? What role did Kushner and Witkoff play? What do business owners hurt by tariffs have to say? Any whistleblowers out there with details on who's been insider trading war plans on betting markets? Hey -- why did a corrupt foreign businessmen get a pardon? Two years of this. Creates heat -- and heat means power, in this case limited power over foreign policy. 3) Investigate or legislate? Why not both. It's received wisdom that voters only care about bread-and-butter issues -- like health care and gas prices -- and investigations will be branded as witch hunts, certainly by the president. But polls show voters absolutely, deeply, do care about corruption right now. And if Democrats have any political skill in them, they'll be capable of holding those investigations, and of linking corruption to the same bread-and-butter issues that infuriate voters. "You hate that data center? That health policy? That tax policy? Here -- we're about to hold hearings with ballroom donors from such and such an industry who bought pardons/the status quo." 4) 2028 will be hell. I expect congressional investigations will turn up many, many potential crimes. Trump will pardon everyone he can. Democrats will transfer boxes of evidence to state AGs -- whatever they're allowed to. And within about three or four months, Donald Trump is going to realize he must do everything in his power to keep his friends in charge of the Justice Department and the FBI after 2028. Everything. And the extent to which he will go to achieve that is going to be the political story of next year. And now I'm gonna get my morning coffee in Ankara, Turkey.
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Shanny Basar retweeted
When we say the everything exchange, we mean everything. Getting equity perps ready for US customers.
Today, equity perps can begin trading for the first time on @CFTC registered exchanges. This move reflects my commitment to ensuring that America’s markets remain the most innovative, liquid, and well-regulated in the world. Instead of being forced to turn to offshore, unregulated venues to access equity perpetual futures, Americans may now access equity perps on CFTC-regulated markets subject to robust safeguards. I appreciate the continued partnership of @SECGov and @SECPaulSAtkins as we work to further harmonize our agencies' regulatory initiatives.
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BREAKING: Democrats have now flipped 6 seats in the US Senate, officially gaining control of both the US House and Senate. This marks the largest Democratic gain in the US Senate since 2008, when the party achieved a net gain of 8 seats. Kansas' US Senate seat has flipped Democrat for the first time since 1932, ending a 94-year Republican winning streak in the state. Democrats have also flipped 15 seats in the US House.
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PSG HAVE MADE CHAMPIONS LEAGUE HISTORY! 🤯 They've become the fastest team to score four goals in a single match, taking just 16 minutes and 2 seconds ⚡️
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Lamine Yamal has overtaken Kylian Mbappé to become the highest-scoring teenager in Champions League history 👏
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