Wednesday, November 11th Edition
 

Today’s Big Story

U.S. Soldier Accused of Spying

 

The 41-year-old was arrested in England on suspicion of espionage linked to Russia

 

British counterterror police just arrested an American soldier on suspicion of spying for Russia. The 41-year-old Army soldier is being accused of espionage linked to Russia. He hasn’t been named, or officially charged and is sitting in a London police station while investigators work. The arrest was made under the U.K.’s National Security Act 2023, which lets police hold him for up to 14 days without charging him with anything.

Specifically, Sections 1 and 3: obtaining or disclosing protected information, and assisting a foreign intelligence service. Officers searched two locations in Gloucestershire. The Metropolitan Police worked the case alongside the FBI and the U.S. military, according to PBS NewsHour.

Here’s the interesting part: CBS News and the BBC report the man was a senior officer based at Imjin Barracks in Innsworth, headquarters of NATO’s Allied Rapid Reaction Corps. That detail comes from an unnamed U.S. official and BBC understanding—nobody has confirmed it on the record.

The official reaction has been brisk and vague. FBI Director Kash Patel called it an “important arrest.” Brig. Gen. Sean Stinchon of Army Counterintelligence Command called it “a sobering reminder that insider threats are real and persistent,” Fox News reports. The Army declined to say more. Police said the case is unconnected to the Iran-linked plot targeting RAF Fairford.

There’s still a lot we don’t know: his name, his rank, his role, what he allegedly passed and to whom, and over what period. The clock gives investigators two weeks to charge him or let him go. Until then, a senior officer at a NATO command headquarters is a suspect and not much else.

 
Quoted:

“We can confirm that the American service member arrested by British police was assigned to NATO’s Allied Rapid Reaction Corps (ARRC),” the official said in a statement.
 

Traders Bet Big Anthropic

 

The historic initial public offering provided a wave of relief for tech investors

You’ve heard by now that Anthropic is going public on the Nasdaq next week, pricing shares at $70 to $78 and raising as much as $64 billion. That’s a valuation of $1.1 trillion to $1.3 trillion—a staggering number that still lands below the $2 trillion some backers floated over the summer, according to the BBC. But offshore traders think the company is leaving money on the table.

Pre-IPO perpetual futures on the crypto exchange Hyperliquid imply a $98 share price and roughly a $1.7 trillion market cap, more than 30% above the filed range, on about $250 million of volume in 24 hours. The contracts aren't available to U.S. investors. A similar premium showed up before SpaceX’s June listing, which then rallied as much as 40% over three days.

But the financials are where it gets strange. Revenue of $16.2 billion for the six months to June, against a pre-tax loss of $80.7 billion. Meanwhile, perps tracking OpenAI fell 7% to $1.27 trillion — a reminder that the AI trade isn’t one rising tide but a scoreboard with winners and losers.

 
FYI:

The Wall Street Journal says the Claude maker’s stock-market debut is seen as a litmus test for investors on edge over the AI trade.
 

NFL Trade Deadline

 

Vikings reunite with Kirk Cousins; Colts stick with Taylor; 49ers get WR Allen

Kirk Cousins is a Viking again. Minnesota sent Las Vegas a 2027 third-round pick to bring back the 38-year-old quarterback after Carson Wentz posted an 8.9 passer rating in a loss to Buffalo. The Vikings are 6-2. The Raiders now hand the keys to No. 1 pick Fernando Mendoza.

That was one of 18 trades involving 23 teams, 19 players and 34 picks, per the Guardian. Indianapolis was the deadline's biggest seller, sending Keenan Allen to San Francisco and Josh Downs to Kansas City—but holding onto Jonathan Taylor. Jacksonville went the other direction entirely, adding Jordan Davis, Jessie Bates III and Davon Godchaux in a full-send push.

Why the Colts kept Taylor is still unexplained, and nobody’s saying what his contract situation looks like. Cousins, meanwhile, gets a 6-2 roster and a second act in a building he never really left. Seems like the playoff math reshuffles from here.

 
Dig Deeper:

ESPN tracked all in-season moves and trade-related buzz right through the deadline.
 

Valet.’s Holiday Gift Guide Is Open

The holidays have a way of sneaking up on you. One minute you’ve got all the time in the world and the next you’re scrambling to find something thoughtful for everyone on your list. Not this year. We’ve done the digging, the debating and the obsessive scrolling to bring you the best gifts of 2026. From stylish upgrades and everyday luxuries to unexpected finds they never knew they needed, there’s something here for everyone (including yourself). Consider this your shortcut to giving better gifts, with a lot less stress.

 
 

Have you
heard about ...

 
 
 
 
 
 

🔒

Today’s Member Extras

Valet. Member

Exclusive

 

Business & Finance Debriefing

The Trends You Need to Know About Right Now

 

Jensen Huang Is No Longer Among World’s 10 Richest As Nvidia Slump Continues

 

Morning Motto

Have faith.

 

▾