Insurers have quietly become a major driver of the private credit boom, changing the insurance industry itself and raising a number of questions about risk and regulation.

Andrew Granato and Pranjal Drall, authors of a new paper, “Private Credit’s State Backstop: How Private Equity Socializes Risk Through Insurers,” tell Tracy Alloway and Joe Weisenthal how both sides benefit from the partnership and why taxpayers might ultimately be on the hook.
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After reports that Situational Awareness approached Sequoia to offload private stakes, Sequoia’s Pat Grady tells Bloomberg why Ken Griffin’s Citadel offered “a better solution” for Leopold Aschenbrenner. Despite recent market volatility, Grady says he expects Aschenbrenner to be a permanent fixture in Silicon Valley https://bloom.bg/456NrtR

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The US has slashed red tape on Wall Street — now European banks want the same.

Chad Thomas explains why they’re increasingly hopeful.
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“AI agents are able to discover vulnerabilities, come up with attack paths, figure out how to concatenate a bunch of vulnerabilities, and attack a customer’s infrastructure. Now we need to figure out how to respond to that at the same speed at which AI is discovering these vulnerabilities,” says Palo Alto Networks Chairman and CEO Nikesh Arora.

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President Donald Trump declared on Wednesday that the US has reached an agreement with Canada on trade, saying that Canadian representatives “gave us the points we had to have.” Trump spoke with Bloomberg’s Tyler Kendall at the White House.
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