Mizuho reaffirms its $165 price target for Strategy (MSTR), noting a 27% upside potential.

According to market sources, Oracle (ORCL.N) has launched a six-tranche U.S. dollar high-grade bond offering, with its shares down 1% in pre-market trading. Fitch Ratings stated that Oracle’s total financing amount is $20 billion, including $10 billion in equity financing.

According to data from the BIT Stock Platform, after Marvell Technology announced the all-stock acquisition of optical communications firm Lumentum, both stocks declined in pre-market trading: MRVL traded at around $195, down nearly 0.71%; LITE traded at around $830, down more than 1.2%. Per Marvell’s official investor announcement, Lumentum shareholders will receive 4.5 shares of Marvell common stock for each Lumentum share held, implying an enterprise value of approximately $115 billion for Lumentum, equivalent to around $1,132 per share, representing a premium of roughly 23.9% over the unaffected closing prices of both companies on October 28. On a fully diluted basis after the transaction closes, existing Marvell shareholders will hold approximately 67% of the combined entity, while Lumentum shareholders will hold around 33%. The deal is expected to be completed in the first half of 2028, pending approval from both companies’ shareholders and satisfaction of other customary regulatory conditions. Current Chairman and Chief Executive Officer Matt Murphy will remain in his role, and three directors from Lumentum will join the merged company’s board.

According to an official announcement, Binance has released Security Incident Recovery Update #5, noting that the full zero-knowledge proof corresponding to the Proof of Reserves (PoR) snapshot taken at 00:00 UTC on October 31 has been completed as scheduled. Users holding the ten tokens—BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC—can now use the verification tool on the official PoR website to independently confirm their account balances are backed by at least a 1:1 reserve.

On-chain detective ZachXBT posted on his personal channel that a European Union entity reportedly lost over $106 million from multiple centralized exchange accounts yesterday. The suspected stolen funds were withdrawn by malicious actors in the form of USDC and USDT. Over the past 24 hours, the actors have been converting large amounts of USDC to ETH, transferring to instant trading platforms (WellWallet, Kyrrex, etc.), converting to Monero (XMR) via Wagyu, and bridging across multiple blockchains.

According to an official announcement, Binance Wallet has completed a new round of security upgrades for its Agentic Wallet. For security reasons, the platform has restricted QR code logins on third-party high-risk websites based on real-time risk control rules. The system will force logouts for specific websites that trigger relevant risk control rules, and regular security scans will continue. Recently, some users have reported failed QR code login attempts. To protect user asset safety, the platform reminds users not to scan QR codes from non-official platforms to log in to the Agentic Wallet, and only use Binance AI Pro and trusted Agents (such as Claude, Codex, Grok, etc.).

According to Marvell's announcement, the company has reached a definitive agreement with Lumentum to acquire the latter in an all-stock transaction. Under the terms, Lumentum shareholders will receive 4.500 shares of Marvell common stock for each Lumentum share they hold. The transaction implies an enterprise value of approximately $115 billion for Lumentum, equivalent to around $1,132 per share, representing a premium of roughly 23.9% over the unadjusted closing prices of both companies on October 28, unaffected by prior rumors. Upon completion, existing Marvell shareholders will hold approximately 67% of the combined entity, while Lumentum shareholders will own about 33%. The two firms stated that the merger will integrate Marvell's capabilities in electrical and optical interconnects, switching, and custom chips, as well as Lumentum's strengths in high-performance lasers, optical transceivers, and optical circuit switches. The goal is to build a full-stack connectivity portfolio for AI infrastructure and expand the addressable market to around $550 billion. The transaction is expected to generate over $1 billion in annual operational cost synergies and is projected to boost Marvell's non-GAAP earnings per share in the first full year after closing. Closing is anticipated in the first half of 2028, pending approval from both companies' shareholders and regulatory authorities. Post-closing, Matt Murphy will remain Chairman and Chief Executive Officer, and three Lumentum directors, including Chief Executive Officer Michael Hurlston, will join Marvell's board of directors.