Day: September 20, 2023

Instacart Stock Jumps 40% on Nasdaq IPO Debut, Closes at 12% Up

Instacart had a successful IPO and closed the day 12% higher, reeling in $420 million in cash from the Nasdaq offering. American grocery delivery company Instacart (NASDAQ: CART) has finally concluded its initial public offering (IPO) on the Nasdaq, closing 12% higher on the day. The company’s stock, in after-hours trading, is exchanging hands at $32.95, 2.23% down from its $33.70 close. The Instacart IPO saw the company’s shares initially spiking 40% to open at $42 but eventually lost some of the gains. As of Monday, Instacart’s valuation was at $10…

Decoding The Fed: Bitcoin And Crypto Post-Tightening

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As the market braces itself for the Federal Reserve’s imminent announcement regarding its monetary policy, speculations are rife about the potential impact on Bitcoin and crypto. Based on Grayscale’s recent analysis by Zach Pandl, today’s announcement could be the critical juncture the Bitcoin and crypto community has been awaiting. In the aftermath of the COVID-19 crisis in 2020, the Federal Reserve embarked on a path of significant monetary easing to reignite the US economy. Their initial stance was one of unwavering support: “The Federal Reserve committed to overstimulating the US…

Avalanche Developer Daniel Sesta Releases WAGMI Tokens

Sestagalli is behind formerly top Avalanche projects like Wonderland, a treasury-backed currency protocol, and Abracadabra, a platform that provides collateral based on yield-bearing assets deposited by users. SPELL, TIME and MIM – three tokens associated with the two projects – had a combined market capitalization of over $6 billion at their peak, data from CoinGecko shows, making Sestagalli one of the most influential developers in the crypto ecosystem at the time. Source

PancakeSwap is resilient, experts bullish on Uniswap and Tradecurve Markets

Following its recent recovery, crypto analysts are bullish on Uniswap (UNI). PancakeSwap (CAKE) is also firm, finding support at a critical line. Meanwhile, Tradecurve Markets (TCRV) continues to gain momentum in its quest to better serve crypto traders in 2023.  Experts bullish on Uniswap Uniswap is a decentralized exchange (DEX) that is changing how traders swap tokens.  Launched in 2018 by Hayden Adams, Uniswap enables token swaps without intermediaries. Unlike most DEXs, it has a user-friendly interface and is community-centric. Following a bounce off the $4.00 support on Sep. 11,…

Former Deutsche Bank exec pleads guilty over ‘R3 Crypto Fund’ scheme

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A former Deutsche Bank investment banker, who was charged earlier this year in relation to a fraudulent cryptocurrency trading scheme, has pleaded guilty to investment fraud — and could face up to 30 years in prison. According to a Sept. 19 statement from the Department of Justice, 27-year-old Rashawn Russell pleaded guilty to participating in a scheme where he operated a fraudulent crypto investment fund dubbed the “R3 Crypto Fund.” Between Nov. 2020 and Aug. 2022, Russell defrauded 29 investors out of $1.5 million by leveraging his reputation as an…

Stanford University, Home of Sam Bankman-Fried’s Professor Parents, Will Return ‘Gifts’ Donated by FTX: Report

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Celsius creditors flag renewed phishing attacks ahead of bankruptcy plan

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Creditors from bankrupt crypto lender Celsius Network are again being targeted in a new wave of phishing attacks as the crypto lender’s bankruptcy proceedings enter its final stages. Reports on social media over the past week have shown an increase in phishing attacks from scammers impersonating Stretto, the bankruptcy services platform for crypto lender Celsius and its creditors.  One user reported receiving three phishing emails claiming to be from Celsius on Sept. 18. Others reported receiving fake emails with malicious links attempting to impersonate Stretto, the claims agent handling the…

Criminals more reliant on cross-chain bridges than ever after mixer crackdowns

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Cybercriminals have accelerated their shift away from crypto mixers for cross-chain bridges over the past year, according to blockchain forensics firm Elliptic. In June and July, nearly all of the crypto stolen was laundered through cross-chain bridges, Elliptic’s data shows a complete reversal from the first half of 2022. In a Sept. 18 blog post, Elliptic explained the cross-chain crime trend is due to the “crime displacement” effect — where criminals move to a new method to carry out the illicit activity when the existing method gets over-policed. However, the shift…