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<ul class="summary-list"><li><a href="https://markets.businessinsider.com/currencies/ltc-usd">Litecoin</a> spiked and then sharply fell Monday morning after a fake press release said that <keyword id="80487" type="General" weightage="60" keywordseo="walmart" source="Orion">Walmart</keyword> is partnering with the coin for payments.</li><li>The cryptocurrency rose as much as 25% before reversing after GlobalNewsWire released a statement about the partnership. </li><li>Walmart told CNBC the press release is fake. </li></ul><a href="https://markets.businessinsider.com/currencies/ltc-usd">Litecoin</a> spiked and then sharply fell Monday morning after a fake press release said that Walmart is partnering with the coin for payments. In less than an hour on Monday morning, the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">coin</a> spiked 25% to a peak of $231 and then sharply tumbled to $179. The coin soared immediately after <a href="https://www.globenewswire.com/news-release/2021/09/13/2295879/0/en/Walmart-Announces-Major-Partnership-With-Litecoin-LTC.html">GlobalNewsWire</a> published a press release saying that Walmart has announced a "major partnership with <keyword id="6372040" type="General" weightage="60" keywordseo="litecoin" source="Orion">Litecoin</keyword>." "Walmart will offer their shoppers to use Litecoin to benefit from the features of the cryptocurrency," read the press release. Shortly after, users on Twitter began to doubt the press release's validity, pointing out that the official <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">litecoin</a> account retweeted the press release, and then deleted it. Walmart also did not publish the release on its website. Litecoin then tumbled after a <a href="https://www.cnbc.com/2021/09/13/walmart-to-accept-payments-with-cryptocurrencies-using-litecoin.html">Walmart spokesperson told CNBC that</a> the press release was fake. The cryptocurrency traded around $180 as of 10:35 am ET Monday. Read more: <a href="https://www.businessinsider.com/altcoins-to-buy-bitcoin-btc-ethereum-eth-cryptocurrency-cardano-solana-2021-9" target="_blank">5 altcoins to buy as institutions adopt crypto, according to a financial advisor who works with retired millionaires and predicts bitcoin will surge to $90,000</a>

Litecoin surges, then plummets after fake press release says Walmart will partner with the coin for payments

<ul class="summary-list"><li><keyword id="6372040" type="General" weightage="60" keywordseo="litecoin" source="Orion">Litecoin</keyword> "screwed up" when an employee retweeted a fake press release about a tie-up with <keyword id="80487" type="General" weightage="60" keywordseo="walmart" source="Orion">Walmart</keyword>, its creator said Monday.</li><li>Anyone can start supporting litecoin without going through the coin's foundation, <keyword id="1510714" type="General" weightage="60" keywordseo="charlie-lee" source="Orion">Charlie Lee</keyword> told Bloomberg.</li><li>The price of litecoin spiked as much as 25% before the hoax announcement was debunked.</li></ul><a href="https://markets.businessinsider.com/currencies/ltc-usd">Litecoin</a> "really screwed up" when an overeager employee retweeted a false press release that said <a href="https://markets.businessinsider.com/stocks/wmt-stock">Walmart</a> was partnering with the coin for payments, the cryptocurrency's creator Charlie Lee <a href="https://www.bloomberg.com/news/videos/2021-09-13/walmart-litecoin-pact-hoax-jolts-crypto-market-video">told Bloomberg</a>. One of the Litecoin Foundation's social media team shared the fake news via an official Twitter account on Monday, lending it some validity. <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">Litecoin's</a> price initially <a href="https://markets.businessinsider.com/news/currencies/litecoin-walmart-fake-press-release-crypto-payments-partner-global-newswire-2021-9">spiked</a> as much as 25%, but pulled back after the press release was <a href="https://corporate.walmart.com/newsroom/2021/09/13/walmart-statement-in-response-to-fake-litecoin-press-release">debunked</a>. "We try our best to not tweet fake news and this time we really screwed up, and we will try harder to not do that," Lee said in the Bloomberg interview Monday. "The thing is with litecoin, a decentralized cryptocurrency, anyone can really start supporting it and accepting it without talking to me or without going through the Litecoin Foundation," he said. The GlobalNewsWire-distributed press release, which said US retail giant Walmart planned to accept litecoin as payment, was picked up by several news outlets. The employee thought the news was true on seeing it reported by Reuters, Lee said. Walmart later confirmed that it had <a href="https://corporate.walmart.com/newsroom/2021/09/13/walmart-statement-in-response-to-fake-litecoin-press-release">no relationship with the cryptocurrency organization</a>. In the past, fraudsters have used false press announcements to artificially boost the price of an asset - often a cheap stock - for profit. Lee said there wasn't much the Litecoin Foundation can do to prevent such scams. "Actually, this happens with the traditional stock market also. So it's not just in cryptocurrency," he noted. "Pretty much anyone can, if they want the price to pump, they can potentially release this fake news." "So I'm going to deny that it has anything to do with us and we'll try our best to figure out who did it," he added. The Litecoin Foundation has reportedly said it is working with authorities for a full investigation. Lee, who founded Litecoin in 2011, said he currently owns only about 20 <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">litecoin tokens</a>. That's one reason he had no incentive to pump the price by issuing a fake statement, he said. Litecoin was last trading at $178 per coin, up 2% on Tuesday, according to data from <a href="https://www.coindesk.com/price/litecoin/">CoinDesk</a>. Read More: <a href="https://www.businessinsider.com/crypto-investing-strategy-scam-kim-kardashian-ethereum-max-2021-9">Crypto pump-and-dump scams trick victims out of hundreds of thousands of dollars. 4 experts break down the 3 smart ways to spot a scam and invest safely.</a>

'We really screwed up': Litecoin's creator admits its retweet spurred the Walmart hoax that triggered a rollercoaster ride for the token

<ul class="summary-list"><li><keyword id="12047041" type="UNKNOWN" weightage="60" keywordseo="mike-novogratz" source="Orion">Mike Novogratz</keyword> said he wasn't quick enough to <keyword id="12100269" type="UNKNOWN" weightage="60" keywordseo="short" source="Orion">short</keyword> <keyword id="12039180" type="UNKNOWN" weightage="60" keywordseo="litecoin" source="Orion">litecoin</keyword>, as the <keyword id="11893281" type="UNKNOWN" weightage="60" keywordseo="walmart" source="Orion">Walmart</keyword> tie-up got debunked swiftly.</li><li>"I scratched my head - like, who would buy litecoin and why?" he said at the SALT Conference Tuesday.</li><li><keyword id="11947671" type="UNKNOWN" weightage="60" keywordseo="galaxy-digital" source="Orion">Galaxy Digital</keyword> CEO <keyword id="11947672" type="UNKNOWN" weightage="60" keywordseo="novogratz" source="Orion">Novogratz</keyword> said he hopes the fraudsters end up getting arrested.</li></ul>Galaxy Digital CEO Mike Novogratz said he wasn't quick enough to short <a href="https://markets.businessinsider.com/currencies/ltc-usd">litecoin</a> after hearing <a href="https://markets.businessinsider.com/stocks/wmt-stock">Walmart</a> would allow its shoppers to pay with the cryptocurrency, <a href="https://www.businessinsider.com/walmart-litecoin-cryptocurrency-fake-release-partnership-circulated-2021-9?r=US&amp;IR=TIR=T">news that later turned out to be fake</a>."Some jackasses posted a fake press release from Walmart that they were buying litecoin," Novogratz said at the <a href="https://www.youtube.com/watch?v=6hS9H6AHBGw">SALT Conference</a> on Tuesday. "I scratched my head - like, who would buy litecoin and why?""Made no sense to me. But I wasn't quick enough to short it, and that, of course, turned out to be fraud," he added. To short an asset means the investor is betting its price will decline, with the aim of pocketing a profit.A false press release distributed by GlobeNewswire on Monday claimed that US retail giant Walmart planned to accept litecoin as payment beginning October 1, though it was <a href="https://www.globenewswire.com/StaticPage/PageNotFound">deleted</a> after a few hours.Litecoin's price initially <a href="https://markets.businessinsider.com/news/currencies/litecoin-walmart-fake-press-release-crypto-payments-partner-global-newswire-2021-9?utm_source=markets&amp;utm_medium=ingestgest">spiked as much as 25%</a>, but pulled back sharply after a Walmart spokesperson confirmed to CNBC that the announcement was untrue. The cryptocurrency's creator, Charlie Lee, then told Bloomberg the Litecoin Foundation "<a href="https://markets.businessinsider.com/news/currencies/litecoin-walmart-creator-charlie-lee-accidental-retweet-really-screwed-up-2021-9">really screwed up</a>" after an overeager employee retweeted the fake news.<keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> billionaire Novogratz said he hopes the scammers, who set up a website alongside the official-looking press release, are found and detained."Hopefully they end up getting arrested," he said, adding that he expected there to be cases of fraud in any popular industry. Litecoin was last trading at $182 per coin, up 0.8%, on Wednesday, according to data from <a href="https://www.coindesk.com/price/litecoin/">CoinDesk</a>. It isn't among the top 10 cryptocurrencies by market capitalization and isn't as popular as other mainstream coins among enthusiasts.Bitcoin bull Novogratz also touched on policymakers' concerns about cryptocurrency's use in illicit payments, and warned that unsuitable regulation could decelerate the industry's growth. "A lot of the backlash from politicians and regulators that aren't educated is all this stuff's all used for bad shit. You couldn't be further from the truth," Novogratz said.Gary Gensler, the chair of the Securities and Exchange Commission, has compared the crypto industry to the "<a href="https://markets.businessinsider.com/news/currencies/sec-cryptocurrency-market-wild-west-authority-regulation-gensler-bitcoin-investors-2021-8" target="_blank" rel="noopener noreferrer">Wild West</a>" for its lack of investor protection and wants more regulatory oversight of the market. He called Tuesday for crypto exchanges <a href="https://markets.businessinsider.com/news/currencies/sec-gary-gensler-crypto-regulation-exchanges-coinbase-securities-lending-2021-9" target="_blank" rel="noopener noreferrer">to register</a> with the regulator if they offer securities, days after the SEC threatened to sue Coinbase over an interest-bearing product."What could go wrong is we could have some really crappy regulation which will slow things back," Novogratz said, adding it may hold back development of the next, decentralized, stage of the web and internet. "If the US and Europe don't get regulation right, it will slow the growth of Web 3 immensely."Read More: <a href="https://www.businessinsider.com/crypto-investing-industry-outlook-defi-stablecoin-solana-salt-ny-conference-2021-9" target="_blank" rel="noopener noreferrer">Inside the SALT NY conference: 4 of the most influential crypto experts break down the biggest opportunities in the space - and share where the industry will be 10 years from now</a>

Crypto billionaire Mike Novogratz says he wasn't quick enough to short litecoin on the fake Walmart news

<ul class="summary-list"><li>GlobeNewswire posted a release that said <keyword id="11893281" type="UNKNOWN" weightage="60" keywordseo="walmart" source="Orion">Walmart</keyword> will allow shoppers to pay using <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword>, but it was fake. </li><li>Walmart posted a job application for a <a href="https://markets.businessinsider.com/news/currencies/walmart-wants-to-hire-a-crypto-lead-after-amazon-posted-its-own-ad-2021-8">senior director</a> to lead its <keyword id="12086982" type="UNKNOWN" weightage="60" keywordseo="digital-currency" source="Orion">digital currency</keyword> strategy in August.</li><li>Major corporations like <a href="https://www.businessinsider.com/more-companies-accepting-bitcoin-cryptocurrency-paypal-starbucks-2021-4">PayPal, Tesla, and Xbox</a> have recently begun to accept it as a form of <keyword id="12086981" type="UNKNOWN" weightage="60" keywordseo="payment" source="Orion">payment</keyword>. </li></ul>GlobeNewswire on Monday published a press release claiming Walmart would allow shoppers to pay using <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> - but it turned out to be a fake. The <a href="https://www.globenewswire.com/news-release/2021/09/13/2295879/0/en/Walmart-Announces-Major-Partnership-With-Litecoin-LTC.html">announcement</a> claimed all of Walmart's e-commerce stores would include a "pay with <keyword id="12039180" type="UNKNOWN" weightage="60" keywordseo="litecoin" source="Orion">litecoin</keyword>" option beginning October 1, before it was <a href="https://www.globenewswire.com/StaticPage/PageNotFound">deleted</a> a few hours later. Walmart spokesperson Randy Hargrove told <a href="https://www.cnbc.com/2021/09/13/walmart-to-accept-payments-with-cryptocurrencies-using-litecoin.html">CNBC</a> the release was "not authentic," but some <keyword id="11893589" type="UNKNOWN" weightage="60" keywordseo="news" source="Orion">news</keyword> outlets, including <a href="https://www.cnbc.com/2021/09/13/walmart-to-accept-payments-with-cryptocurrencies-using-litecoin.html">CNBC</a> and <a href="https://www.reuters.com/business/retail-consumer/walmart-accept-litecoin-payments-2021-09-13/?taid=613f570b8673f2000160b43f&amp;utm_campaign=trueAnthem:+Trending+Content&amp;utm_medium=trueAnthem&amp;utm_source=twitterurce=twitter">Reuters,</a> had already published articles citing the doctored press release. Both sites later removed the false information and issued corrections.Walmart signaled interest in crypto earlier this year when posting a job application for a <a href="https://markets.businessinsider.com/news/currencies/walmart-wants-to-hire-a-crypto-lead-after-amazon-posted-its-own-ad-2021-8">senior director</a> to lead its digital currency strategy. Major corporations like <a href="https://www.businessinsider.com/more-companies-accepting-bitcoin-cryptocurrency-paypal-starbucks-2021-4">PayPal, Tesla and Xbox</a> have recently begun to accept it as a form of payment. Litecoin, designed by former Google engineer Charlie Lee, is an alternative to the cryptocurrency bitcoin. The digital currency is among the top 10 cryptos, per <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.coinbase.com%2Fprice%2Flitecoin%3FclickId%3DSVHzBV0xoxyITsEUN8w5aSM2UkBQltVwwx2wSM0%26utm_source%3Dimpact%26utm_medium%3Dgrowthp%26utm_campaign%3Drt_p_m_w_d_acq_imp_gro_aff_adgoal%2520GmbH%26utm_content%3D552039%26utm_creative%3DOnline%2520Tracking%2520Link%26irgwc%3D1">Coinbase</a>, and has a market capitalization of $15.2 billion. Its price surged more than 30% following the fake announcement, before erasing most of the gains. GlobeNewswire and Walmart were not immediately available for comment.

No, Walmart didn't announce plans to accept cryptocurrency

Welcome to <keyword id="11907098" type="UNKNOWN" weightage="60" keywordseo="insider-finance" source="Orion">Insider Finance</keyword>. If this was forwarded to you, <a href="http://newsletter.businessinsider.com/join/4np/insider-finance">sign up here</a>. Plus, download Insider's app for news on the go - <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8amp;mt=8">click here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider&amp;r[%E2%80%A6]ers%26utm_medium%3Demail%26utm_term%3D06292021%26anid%3Dadmobdmob">here for Android</a>.On the agenda today:<ul><li>The number of Black execs at Morgan Stanley's money manager <a href="https://www.businessinsider.com/morgan-stanley-investment-managements-diversity-is-still-at-2019-levels-2021-9">remains bleak.</a></li><li>JPMorgan is axing some fees <a href="https://www.businessinsider.com/jpmorgan-529-fees-financial-advisor-college-savings-plans-2021-9">for college-savings plans.</a></li><li>A fake Walmart press release <a href="https://www.businessinsider.com/walmart-litecoin-cryptocurrency-fake-release-partnership-circulated-2021-9">briefly sent litecoin soaring.</a></li></ul>Let's get started. <a href="https://www.businessinsider.com/morgan-stanley-investment-managements-diversity-is-still-at-2019-levels-2021-9">Diversity at Morgan Stanley's money manager remains bleak</a><a href="https://www.businessinsider.com/morgan-stanley-investment-managements-diversity-is-still-at-2019-levels-2021-9"></a>The number of Black employees holding executive-level roles at Morgan Stanley Investment Management has remained unchanged since 2019, despite CEO James Gorman's commitment to diversity after George Floyd's death last year. <a href="https://www.businessinsider.com/morgan-stanley-investment-managements-diversity-is-still-at-2019-levels-2021-9">Here's what else we learned from data the firm disclosed to an investor.</a><a href="https://www.businessinsider.com/jpmorgan-529-fees-financial-advisor-college-savings-plans-2021-9">JPMorgan is dropping some fees for college-savings plans</a><a href="https://www.businessinsider.com/jpmorgan-529-fees-financial-advisor-college-savings-plans-2021-9"> <div type="image" title="Kristin Lemkau" height="2948" width="3931" msid="86197061" hostid="261"></div></a>JPMorgan is axing upfront fees from the 529 education savings plan, a popular investment account meant to help people save for college. The move is part of the bank's larger plans to set itself apart in a highly crowded wealth industry. <a href="https://www.businessinsider.com/jpmorgan-529-fees-financial-advisor-college-savings-plans-2021-9">Get the full rundown here.</a><a href="https://www.businessinsider.com/walmart-litecoin-cryptocurrency-fake-release-partnership-circulated-2021-9">Sorry, you can't use cryptocurrency at Walmart (yet)</a><a href="https://www.businessinsider.com/walmart-litecoin-cryptocurrency-fake-release-partnership-circulated-2021-9"><div type="image" title="Walmart worker" height="1949" width="2598" msid="86197062" hostid="261"></div></a>GlobeNewswire published a press release claiming Walmart would allow shoppers to pay using cryptocurrency beginning in October - but it turned out to be fake (and caused litecoin <a href="https://markets.businessinsider.com/news/currencies/litecoin-walmart-fake-press-release-crypto-payments-partner-global-newswire-2021-9">to spike then sharply fall</a>). So despite the retailer <a href="https://markets.businessinsider.com/news/currencies/walmart-wants-to-hire-a-crypto-lead-after-amazon-posted-its-own-ad-2021-8">signalling an interest in crypto</a> earlier this year, <a href="https://www.businessinsider.com/walmart-litecoin-cryptocurrency-fake-release-partnership-circulated-2021-9">you still can't use litecoin to check out at Walmart.</a><a href="https://www.businessinsider.com/jason-mudrick-capital-analyst-hours-pandemic-distressed-debt-2021-9">Jason Mudrick is capitalizing on the distressed credit market</a><a href="https://www.businessinsider.com/jason-mudrick-capital-analyst-hours-pandemic-distressed-debt-2021-9"><div type="image" title="Jason Mudrick" height="720" width="960" msid="86197064" hostid="261"></div></a>For the first 90 days of the pandemic, Jason Mudrick had his analysts work 12- to 14-hour days - including on weekends - to hunt down top distressed debt opportunities. <a href="https://www.businessinsider.com/jason-mudrick-capital-analyst-hours-pandemic-distressed-debt-2021-9">Why they spent the first three months of the pandemic "working as hard as we've ever worked."</a><a href="https://www.businessinsider.com/jpmorgan-chase-the-infatuation-bank-content-media-2021-9">Understanding JPMorgan's purchase of The Infatuation</a><a href="https://www.businessinsider.com/jpmorgan-chase-the-infatuation-bank-content-media-2021-9"><div type="image" title="A restaurant worker wears a facemark while holding a tablet to take customer orders." height="5050" width="6734" msid="86197067" hostid="261"></div></a>JPMorgan's purchase of restaurant-review website The Infatuation could be <keyword id="11895526" type="UNKNOWN" weightage="60" keywordseo="wall-street" source="Orion">Wall Street</keyword>'s weirdest - and smartest - deal of the year. Financial firms are increasingly leaning on content and perks to woo customers, and for JPMorgan, acquiring The Infatuation is a way <a href="https://www.businessinsider.com/jpmorgan-chase-the-infatuation-bank-content-media-2021-9">to increase its perks and retain customers in the process.</a><a href="https://www.businessinsider.com/private-market-data-providers-forge-cyndx-2021-9">Investors are tracking data in the notoriously opaque private markets</a><a href="https://www.businessinsider.com/private-market-data-providers-forge-cyndx-2021-9"><div type="image" title="Computer hacker silhouette" height="680" width="906" msid="86197071" hostid="261"></div></a>Hedge funds have piled into private markets at a record pace, according to Goldman Sachs. Private market data can be a tough find, but startups like Forge Global and Cyndx, among others, believe they have found a way in. <a href="https://www.businessinsider.com/private-market-data-providers-forge-cyndx-2021-9">Here are some tools they're using to provide private market data to investors.</a>On our radar:<ul><li>According to MarketWatch, Wall Street banks are seeing an influx of applicants <a href="https://www.marketwatch.com/story/wall-street-banks-seeing-surge-of-applicants-as-pay-rises-11631529827">as they keep bumping pay.</a></li><li>TransUnion is nearing a deal to acquire Neustar, an information-services company, for $3.1 billion, WSJ reports. <a href="https://www.wsj.com/articles/transunion-nears-3-1-billion-deal-for-neustar-11631502002?campaign_id=4&amp;emc=edit_dk_20210913&amp;instance_id=40273&amp;nl=dealbook&amp;regi_id=71823306&amp;segment_id=68788&amp;te=1&amp;user_id=f058385abc0a81f5ba25805ecd26bcd9385abc0a81f5ba25805ecd26bcd9">More on that move here.</a></li><li>Bloomberg reports that Zanbato has hired JPMorgan's Akrati Johari <a href="https://www.bloomberg.com/news/articles/2021-09-13/zanbato-hires-jpmorgan-s-johari-as-chief-growth-officer">as its chief growth officer. </a></li><li>Dreaming about quitting your job to climb Mount Everest? <a href="https://www.businessinsider.com/meaning-at-work-quitting-jobs-to-climb-mount-everest-2021-9">These die-hards are doing it.</a></li><li>Morgan Stanley just tapped Sheena Shah to lead its new cryptocurrency research team, according to Bloomberg. <a href="https://www.bloomberg.com/news/articles/2021-09-13/morgan-stanley-taps-sheena-shah-to-lead-new-crypto-research-team">What we know so far.</a> </li></ul>

Morgan Stanley diversity disclosure - JPM axes some fees - Walmart litecoin hoax

<ul class="summary-list"><li><keyword id="12047300" type="UNKNOWN" weightage="60" keywordseo="kroger" source="Orion">Kroger</keyword> on Friday confirmed it is not accepting <keyword id="12476262" type="UNKNOWN" weightage="60" keywordseo="bitcoin-cash" source="Orion">bitcoin cash</keyword> after a fake press release said it would.</li><li>Media outlets initially fell for the hoax, which led to a brief 5% <keyword id="12476263" type="UNKNOWN" weightage="60" keywordseo="bitcoin-cash-price" source="Orion">bitcoin cash price</keyword> rally.</li><li>The incident was reminiscent of what happened with Walmart in September.</li></ul><a href="https://markets.businessinsider.com/stocks/kr-stock">Kroger Company</a> on Friday confirmed it is not accepting <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> cash after a fake press release said the American grocery chain was embracing cryptocurrencies ahead of the holidays. The <a href="https://www.prnewswire.com/news-releases/kroger-to-accept-bitcoin-cash-this-holiday-season-301417472.html">release</a> was published on PRNewswire, a website where major companies post announcements, and also appeared on <keyword id="12087079" type="UNKNOWN" weightage="60" keywordseo="krogers" source="Orion">Kroger's</keyword> investor relations page, which automatically posted the release. Both have since deleted the phony announcement. Media outlets initially fell for the hoax, which led to a brief 5% bitcoin cash price rally. But soon after, Kroger debunked the crypto news. "This communication was fraudulent and is unfounded and should be disregarded," a company spokesperson said in an emailed statement to <a href="https://www.bloomberg.com/news/articles/2021-11-05/kroger-says-bitcoin-cash-release-on-its-website-was-fraudulent">Bloomberg</a>.Kroger has not responded to Insider's multiple requests for comment. The incident was reminiscent of what happened in September with Walmart, which experienced almost the exact same situation.GlobeNewswire also <a href="https://www.businessinsider.com/walmart-litecoin-cryptocurrency-fake-release-partnership-circulated-2021-9">published a fake press release</a> claiming <a href="https://markets.businessinsider.com/stocks/wmt-stock">Walmart</a> would allow shoppers to pay using <keyword id="12039180" type="UNKNOWN" weightage="60" keywordseo="litecoin" source="Orion">litecoin</keyword>. The post was <a href="https://www.globenewswire.com/StaticPage/PageNotFound">deleted</a> a few hours later but not before media outlets picked it up and not before <a href="https://markets.businessinsider.com/currencies/ltc-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">litecoin</a> <a href="https://markets.businessinsider.com/news/currencies/litecoin-walmart-fake-press-release-crypto-payments-partner-global-newswire-2021-9">spiked 25%</a>.Both incidents laid bare the risks fake press releases pose to various assets, particularly cryptocurrencies, which are already volatile in themselves.Companies such as Newswire, a competitor to GlobeNewswire, <a href="https://www.businessinsider.com/walmart-fake-crypto-announcement-globalnewswire-press-releases-2021-9">told Insider</a> in September that distributors issue thousands of press releases per day, especially during busy parts of the year like earnings season. The tremendous volume makes it challenging to confirm every single one.<a href="https://bitcoincash.org/">Bitcoin cash</a>, founded in 2017, was created by bitcoin miners and developers to respond to the growing concerns regarding bitcoin's scalability among others. Kroger shares were trading lower by 2.90% to $42.16 as of 12:31 p.m. ET.

Kroger says it is not accepting bitcoin cash after fake press release sends the crypto briefly soaring

<ul class="summary-list"><li><keyword id="6358378" type="General" weightage="60" keywordseo="amc" source="Orion">AMC</keyword> expects to add ether, litecoin, and bitcoin cash as payment for movie tickets and concessions by the end of 2021, CEO Adam Aron said Wednesday.</li><li>In August, Aron said the theater chain will have the tech in place to accept bitcoin later this year.</li><li>AMC's share price is up more than 2,000% so far in 2021, largely driven by the meme-stock frenzy.</li></ul><a href="https://markets.businessinsider.com/stocks/amc-stock">AMC</a> CEO Adam Aron said on Wednesday that the movie <keyword id="6282" type="General" weightage="60" keywordseo="theatre" source="Orion">theatre</keyword> operator expects to accept <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a>, <a href="https://markets.businessinsider.com/currencies/ltc-usd">litecoin</a>, and <a href="https://markets.businessinsider.com/currencies/bcc-usd">bitcoin cash</a> as payment, in addition to <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a>, by the end of the year. Aron revealed the company's <a href="https://markets.businessinsider.com/news/currencies/amc-bitcoin-payment-accept-end-2021-meme-stocks-crypto-movie-2021-8">plan to accept bitcoin</a> at its US locations in August, and said AMC was exploring how else it could participate in the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">crypto economy</a>. "Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept bitcoin for online ticket and concession payments by year-end 2021," he <a href="https://twitter.com/CEOAdam">said in a tweet</a> Wednesday. "I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash." Many Twitter users responded by urging him to include <a href="https://markets.businessinsider.com/currencies/doge-usd">dogecoin</a> in the mix. One <a href="https://twitter.com/greg16676935420/status/1438317295068196872">brought up</a> the <a href="https://www.businessinsider.com/walmart-litecoin-cryptocurrency-fake-release-partnership-circulated-2021-9">fake news release</a> that said Walmart would allow shoppers to pay with <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">litecoin</a>, asking Aron whether he was really sure about the decision. Bitcoin, the first token to be earmarked for acceptance by AMC, is the biggest <keyword id="2721952" type="General" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword>currency by market capitalization, while ether has shot up in popularity as its ethereum network is valued for its smart contract capabilities. Litecoin and bitcoin cash, by contrast, are less mainstream as they don't get the same level of recognition from crypto enthusiasts. Billionaire Mike Novogratz, one of the most vocal advocates for crypto, doesn't seem to be a fan of litecoin. He said at the SALT Conference on Tuesday that news of the Walmart tie-up <a href="https://markets.businessinsider.com/news/currencies/mike-novogratz-walmart-litecoin-crypto-short-fake-news-salt-quick-2021-9">made no sense to him</a>. "I scratched my head - like, who would buy litecoin and why?" <div type="image" title="AMC stock" height="580" width="673" msid="86260671" hostid="261"></div>AMC's shares are up more than 2,000% year-to-date since it became a Reddit darling on Wall Street Bets, the forum that entered the mainstream during January's GameStop frenzy. The company has cashed in on the craze by <a href="https://markets.businessinsider.com/news/stocks/amc-issue-25-million-shares-rally-acquisitions-adam-aron-2021-6">selling more shares</a>. Bitcoin was last trading 0.6% higher at $47,800. Ether was up 4.9% at $3,600, litecoin rose 4.7% to $191, and bitcoin cash rose 0.6% to $640 on Thursday, according to data from <a href="https://www.coindesk.com/data/">CoinDesk</a>. Read More: <a href="https://www.businessinsider.com/altcoins-to-buy-bitcoin-ethereum-october-crypto-rally-eth-btc-2021-9">Buy these 3 little-known altcoins instead of 'ethereum killers' before a big October crypto rally, the chief technical analyst of a crypto firm says</a>

AMC ticket buyers will be able to pay in ether, litecoin, and bitcoin cash by the end of the year, the movie chain's CEO says

Welcome to <keyword id="11907098" type="UNKNOWN" weightage="60" keywordseo="insider-finance" source="Orion">Insider Finance</keyword>. If this was forwarded to you, <a href="http://newsletter.businessinsider.com/join/4np/insider-finance">sign up here</a>. Plus, download Insider's app for news on the go - <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8amp;mt=8">click here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider&amp;r[%E2%80%A6]ers%26utm_medium%3Demail%26utm_term%3D06292021%26anid%3Dadmobdmob">here for Android</a>.On the agenda today:<ul><li>Private-equity recruiting is in full swing - and some funds <a href="https://www.businessinsider.com/private-equity-recruiting-interview-dates-2022-investment-associate-roles-2021-9">have already extended offers.</a></li><li>Merrill Lynch is coming up with new ways <a href="https://www.businessinsider.com/merrill-lynch-ramping-up-alternatives-mortgage-products-memo-project-thunder-2021-9">to keep advisors from jumping ship.</a></li><li>Goldman Sachs just appointed <a href="https://www.businessinsider.com/goldman-names-denis-coleman-to-replace-stephen-scherr-as-cfo-2021-9">a new CFO.</a></li></ul>Let's get started. <a href="https://www.businessinsider.com/private-equity-recruiting-interview-dates-2022-investment-associate-roles-2021-9">Private-equity recruiting is in full swing</a><a href="https://www.businessinsider.com/private-equity-recruiting-interview-dates-2022-investment-associate-roles-2021-9"></a>PE recruiting ramped up on Monday, with Thoma Bravo kicking off recruitment of 2022 buy-side investment-associate roles. Mega-funds like Apollo, TPG, and Carlyle have followed suit and also begun extending offers. <a href="https://www.businessinsider.com/private-equity-recruiting-interview-dates-2022-investment-associate-roles-2021-9">Here's where the different funds stand so far.</a><a href="https://www.businessinsider.com/goldman-names-denis-coleman-to-replace-stephen-scherr-as-cfo-2021-9">Goldman Sachs appoints new CFO</a><a href="https://www.businessinsider.com/goldman-names-denis-coleman-to-replace-stephen-scherr-as-cfo-2021-9"><div type="image" title="Stephen Scherr" height="1125" width="1500" msid="86227969" hostid="261"></div></a>Goldman Sachs has appointed Denis Coleman as its new CFO. Coleman will replace Stephen Scherr, who's departing the bank at the end of the year following a 30-year career. <a href="https://www.businessinsider.com/goldman-names-denis-coleman-to-replace-stephen-scherr-as-cfo-2021-9">More on Goldman's new finance chief.</a> <a href="https://www.businessinsider.com/merrill-lynch-ramping-up-alternatives-mortgage-products-memo-project-thunder-2021-9">Merrill Lynch is scrambling to keep advisors from jumping ship</a><a href="https://www.businessinsider.com/merrill-lynch-ramping-up-alternatives-mortgage-products-memo-project-thunder-2021-9"><div type="image" title="Andy Sieg Merrill Lynch" height="1401" width="1869" msid="86227972" hostid="261"></div></a>In a leaked memo, we learned Merrill Lynch will be making changes to boost morale - and to keep financial advisors from leaving for competitors. To do so, the wealth manager plans to ramp up its alternative investments platform and mortgage offerings. <a href="https://www.businessinsider.com/merrill-lynch-ramping-up-alternatives-mortgage-products-memo-project-thunder-2021-9">Get the latest on the campaign, code-named "Project Thunder."</a><a href="https://www.businessinsider.com/distressed-debt-avenue-capital-marc-lasry-private-lending-2021-9">Marc Lasry says the Fed "screwed" big distressed investors</a> <a href="https://www.businessinsider.com/distressed-debt-avenue-capital-marc-lasry-private-lending-2021-9"><div type="image" title="Marc Lasry" height="1666" width="2222" msid="86227973" hostid="261"></div></a>Marc Lasry's $11.7 billion Avenue Capital is too big for most opportunities, the billionaire and Milwaukee Bucks' co-owner said. Lasry and other distressed investors said small-cap and mid-cap companies - ideally between $500 million and $4 billion - have the best opportunities to create value in the current market. <a href="https://www.businessinsider.com/distressed-debt-avenue-capital-marc-lasry-private-lending-2021-9">More on Lasry's beef with the Fed.</a><a href="https://markets.businessinsider.com/news/currencies/cryptocurrency-trading-steve-cohen-radkl-crypto-point-72-2021-9">Steve Cohen is backing a new crypto trading firm</a><a href="https://markets.businessinsider.com/news/currencies/cryptocurrency-trading-steve-cohen-radkl-crypto-point-72-2021-9"><div type="image" title="steve cohen hedge funds 4x3" height="1249" width="1666" msid="86227974" hostid="261"></div></a>Billionaire Point 72 founder Steve Cohen has agreed to personally back a new cryptocurrency-trading platform, according to the <keyword id="11895526" type="UNKNOWN" weightage="60" keywordseo="wall-street" source="Orion">Wall Street</keyword> Journal. He'll invest in Radkl, the quant-trading firm, personally, rather than through his hedge fund. <a href="https://markets.businessinsider.com/news/currencies/cryptocurrency-trading-steve-cohen-radkl-crypto-point-72-2021-9">Everything we know so far.</a><a href="https://markets.businessinsider.com/news/currencies/litecoin-walmart-creator-charlie-lee-accidental-retweet-really-screwed-up-2021-9">Litecoin's creator: "We really screwed up"</a><a href="https://markets.businessinsider.com/news/currencies/litecoin-walmart-creator-charlie-lee-accidental-retweet-really-screwed-up-2021-9"><div type="image" title="litecoin creator founder charlie lee" height="960" width="1280" msid="86227976" hostid="261"></div></a>Charlie Lee said litecoin "really screwed up" when an employee retweeted a false press release that said Walmart was partnering with the coin. Before the statement was debunked, litecoin spiked as much as 25%, then tumbled again. <a href="https://markets.businessinsider.com/news/currencies/litecoin-walmart-creator-charlie-lee-accidental-retweet-really-screwed-up-2021-9">Here's what else Lee said about litecoin's rollercoaster of a day.</a><a href="https://www.businessinsider.com/jpmorgan-bnpl-consumer-bank-marianne-lake-tech-fintech-2021-9">JPMorgan is eyeing BNPL </a><a href="https://www.businessinsider.com/jpmorgan-bnpl-consumer-bank-marianne-lake-tech-fintech-2021-9"><div type="image" title="Marianne Lake JPMorgan Chase" height="1944" width="2592" msid="86227977" hostid="261"></div></a>JPMorgan is considering adding buy now, pay later features, said Marianne Lake, its consumer banking co-CEO. As the payment feature becomes a top priority for big banks, JPMorgan believes it can use its size to take on leading industry players like Affirm and Klarna. <a href="https://www.businessinsider.com/jpmorgan-bnpl-consumer-bank-marianne-lake-tech-fintech-2021-9">Get the rundown on the bank's BNPL ambitions.</a><a href="https://www.businessinsider.com/snowflake-finance-cloud-tech-data-blackrock-capital-one-2021-9">Snowflake is bringing a finance-focused cloud to Wall Street</a><a href="https://www.businessinsider.com/snowflake-finance-cloud-tech-data-blackrock-capital-one-2021-9"><div type="image" title="Matthew Glickman, Snowflake" height="1991" width="2650" msid="86227979" hostid="261"></div></a>Data-warehousing company Snowflake launched its Financial Services Data Cloud on Tuesday, which will cater to financial institutions like banks, hedge funds, and asset managers. The cloud has already nabbed BlackRock, Capital One, and Refinitiv as customers - <a href="https://www.businessinsider.com/snowflake-finance-cloud-tech-data-blackrock-capital-one-2021-9">here's what else we know.</a>On our radar:<ul><li>Financial News reports that investment banks are seeing a surge in applications this year - exemplified by the <a href="https://www.fnlondon.com/articles/jpmorgans-50000-applicants-shows-grads-still-love-banking-damaging-headlines-have-not-put-students-off-20210913">50,000 applicants for JPMorgan's investment banking division.</a></li><li>Legal-tech M&amp;A deals spiked this year, signaling a wave of growth in the space. <a href="https://www.businessinsider.com/the-top-7-transformative-legal-technology-startups-deals-of-2021-9">These are the seven most significant deals so far.</a></li><li>CEOs are asking a lot of questions about Biden's vaccine mandate. <a href="https://www.businessinsider.com/vaccine-mandate-biden-questions-employers-ceos-2021-9">Here are answers to their 11 biggest questions.</a></li><li>JPMorgan is hiring two new executives to help reinvigorate its online investing products, according to WSJ. <a href="https://www.wsj.com/articles/jpmorgan-chases-the-online-investing-boom-with-senior-hires-11631645328">More on the new hires. </a></li></ul>

PE recruiting in overdrive - Merrill Lynch's 'Project Thunder' - Goldman's new CFO

Welcome to <keyword id="11907098" type="UNKNOWN" weightage="60" keywordseo="insider-finance" source="Orion">Insider Finance</keyword>. If this was forwarded to you, <a href="http://newsletter.businessinsider.com/join/4np/insider-finance">sign up here</a>. Plus, download Insider's app for news on the go - <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8amp;mt=8">click here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider&amp;r[%E2%80%A6]ers%26utm_medium%3Demail%26utm_term%3D06292021%26anid%3Dadmobdmob">here for Android</a>.On the agenda today:<ul><li>We outlined 10 of the biggest banks' crypto offerings - or lack thereof - in <a href="https://www.businessinsider.com/crypto-projects-and-plans-at-top-wall-street-banks">our digital-asset dossiers.</a></li><li>Goldman Sachs has agreed to buy <a href="https://www.businessinsider.com/goldmans-stephanie-cohen-breaks-down-banks-deal-for-greensky-2021-9">home-improvement lender GreenSky. </a></li><li>Robinhood's CMO is leaving <a href="https://www.businessinsider.com/robinhood-chief-marketing-officer-leaving-after-a-year-2021-9">after just a year with the company.</a></li></ul>Let's get started. <a href="https://www.businessinsider.com/crypto-projects-and-plans-at-top-wall-street-banks">The digital-asset dossiers</a><a href="https://www.businessinsider.com/crypto-projects-and-plans-at-top-wall-street-banks"></a>Amid surging customer interest in cryptocurrency, some of <keyword id="11895526" type="UNKNOWN" weightage="60" keywordseo="wall-street" source="Orion">Wall Street</keyword>'s biggest banks have unveiled plans to implement crypto, while others have held off. To help you navigate the twists and turns of the crypto boom, we've compiled a list of 10 of the biggest banks' crypto offerings (or lack thereof), executives, and public statements. <a href="https://www.businessinsider.com/crypto-projects-and-plans-at-top-wall-street-banks">Read the digital-asset dossiers.</a><a href="https://www.businessinsider.com/goldmans-stephanie-cohen-breaks-down-banks-deal-for-greensky-2021-9">Goldman Sachs to buy home-improvement lender GreenSky</a><a href="https://www.businessinsider.com/goldmans-stephanie-cohen-breaks-down-banks-deal-for-greensky-2021-9"><div type="image" title="Stephanie Cohen" height="3840" width="5119" msid="86259296" hostid="261"></div></a>Goldman Sachs has agreed to buy GreenSky, which provides installment loans and lines of credit for home-improvement projects, in an all-stock deal valued at $2.24 billion. We spoke with Stephanie Cohen, co-head of Goldman's consumer-banking division, who <a href="https://www.businessinsider.com/goldmans-stephanie-cohen-breaks-down-banks-deal-for-greensky-2021-9">explained why they inked the deal.</a><a href="https://www.businessinsider.com/robinhood-chief-marketing-officer-leaving-after-a-year-2021-9">Robinhood's CMO is leaving the company</a><a href="https://www.businessinsider.com/robinhood-chief-marketing-officer-leaving-after-a-year-2021-9"><div type="image" title="Christina Smedley Robinhood" height="1666" width="2222" msid="86259298" hostid="261"></div></a>Christina Smedley, Robinhood's chief marketing and communications officer, is leaving the company after just a year, and declined to say where she's heading next. <a href="https://www.businessinsider.com/robinhood-chief-marketing-officer-leaving-after-a-year-2021-9">Here's a look at her tenure at Robinhood.</a><a href="https://www.businessinsider.com/wealth-managers-ubs-wells-fargo-merrill-lynch-diversity-2021-9">Massive wealth managers are creating new roles to reach diverse clients</a><a href="https://www.businessinsider.com/wealth-managers-ubs-wells-fargo-merrill-lynch-diversity-2021-9"><div type="image" title="Hispanic couple with baby talking to financial advisor." height="1664" width="2219" msid="86259300" hostid="261"></div></a>UBS, Wells Fargo, and Bank of America have all created new executive roles and teams aimed at reaching diverse clients in an overwhelmingly white, male industry. Get the latest on the wealth managers' newest hires - <a href="https://www.businessinsider.com/wealth-managers-ubs-wells-fargo-merrill-lynch-diversity-2021-9">and how they're working to better serve diverse consumers.</a><a href="https://www.businessinsider.com/axon-capital-hedge-fund-spac-new-deals-dinakar-singh-2021-9">This $500 million hedge fund is ramping up its SPAC bets</a><a href="https://www.businessinsider.com/axon-capital-hedge-fund-spac-new-deals-dinakar-singh-2021-9"><div type="image" title="Kori Estrada" height="1803" width="2400" msid="86259303" hostid="261"></div></a>Even though the SPAC market is cooling off, hedge fund manager Axon Capital is just getting started in the space. The hedge fund just launched its first SPAC last month, and is planning on rolling out two more focused on health care and energy. <a href="https://www.businessinsider.com/axon-capital-hedge-fund-spac-new-deals-dinakar-singh-2021-9">Axon's co-CIO shares why the fund is all-in on SPACs.</a><a href="https://www.businessinsider.com/tomocredit-consumer-credit-fintech-pitch-deck-series-a-2021-9">TomoCredit used this 17-page pitch deck to raise $10 million</a><a href="https://www.businessinsider.com/tomocredit-consumer-credit-fintech-pitch-deck-series-a-2021-9"><div type="image" title="A photo of the TomoCredit team" height="1000" width="1333" msid="86259305" hostid="261"></div></a>TomoCredit, a fintech lender that offers credit to people with thin- and no-credit histories, just raised $10 million for its Series A. <a href="https://www.businessinsider.com/tomocredit-consumer-credit-fintech-pitch-deck-series-a-2021-9">Check out the pitch deck the fintech used to secure funding.</a> <a href="https://www.businessinsider.com/fintech-pitch-deck-fundraise-lance-altruist-honeybook-digital-finance-startups-2021-5">And take a look at our entire library of pitch decks used by fintechs to raise millions.</a><a href="https://markets.businessinsider.com/news/currencies/mike-novogratz-walmart-litecoin-crypto-short-fake-news-salt-quick-2021-9">Mike Novogratz wasn't quick enough to short litecoin </a><a href="https://markets.businessinsider.com/news/currencies/mike-novogratz-walmart-litecoin-crypto-short-fake-news-salt-quick-2021-9"><div type="image" title="GettyImages 1036973538" height="3163" width="4218" msid="86259307" hostid="261"></div></a>Novogratz, Galaxy Digital CEO, said he wasn't quick enough to short litecoin during its brief surge this week. The coin spiked after a quickly debunked press release claimed Walmart would accept litecoin for payments - but the crypto billionaire was too slow to short the coin. <a href="https://markets.businessinsider.com/news/currencies/mike-novogratz-walmart-litecoin-crypto-short-fake-news-salt-quick-2021-9">Here's what else he said about the debacle.</a>On our radar:<ul><li>LA County's pension fund is yanking $6.3 billion from investment-grade bond funds and pouring some of that money into hedge funds. <a href="https://www.businessinsider.com/pension-slashing-investment-grade-bonds-hedge-funds-2021-9">Here's why.</a></li><li>Wells Fargo will transfer its workloads to cloud services from Microsoft and Google, WSJ reports. <a href="https://www.wsj.com/articles/wells-fargo-embraces-multicloud-with-microsoft-google-deals-11631717100">It's now the biggest bank to make such a confident bet on the cloud.</a></li><li>A former Goldman Sachs analyst who raised over $8.5 million for her fashion startup <a href="https://www.businessinsider.com/goldman-sachs-analyst-finance-industry-fashion-entrepreneur-2021-9">explains how she realized finance wasn't for her.</a></li><li>Robinhood is giving away $100,000 to recruit college students to use its app. <a href="https://www.businessinsider.com/robinhood-recruiting-community-college-hbcu-students-for-app-2021-9">Here's what you need to know. </a></li></ul>

Crypto dossiers - Goldman to buy GreenSky - Robinhood's CMO exits

<ul class="summary-list"><li>The Dow jumped over 260 points Monday, while the Nasdaq Composite declined slightly. </li><li>Investors were getting ready for consumer price <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword> data due Tuesday. </li><li>The inflation reading will arrive before next week's <keyword id="11895523" type="UNKNOWN" weightage="60" keywordseo="federal-reserve" source="Orion">Federal Reserve</keyword> meeting.</li></ul>US <keyword id="11893878" type="UNKNOWN" weightage="60" keywordseo="stocks" source="Orion">stocks</keyword> closed mixed Monday as investors prepared for a monthly consumer inflation report due just before the Federal Reserve will meet to discuss its outlook on recovery in the world's largest economy. The <keyword id="11907242" type="UNKNOWN" weightage="60" keywordseo="dow-jones-industrial-average" source="Orion">Dow Jones Industrial Average</keyword> moved solidly higher, rising 261 points, with UnitedHealth Group up and Chevron gaining as oil prices rose. But the Nasdaq Composite came under pressure and the <keyword id="11898248" type="UNKNOWN" weightage="60" keywordseo="sp-500" source="Orion">S&amp;P 500</keyword> eked out a small gain after five straight losses. Stocks started the session higher with some support coming from a decline in 7-day average COVID-19 infections. This week's economic calendar will include consumer price index inflation data for August on Tuesday. CPI is expected to come in at 5.3%, according to economists polled by Bloomberg. "Investors don't want to have massive positions before the inflation data as the risks are to the upside as COVID inflation continues to hamper supply chains. If inflation comes in hotter-than-expected, taper expectations could shift from December to November," wrote Ed Moya, senior market analyst at Oanda, in a note.Here's where US indexes stood at 4:00 p.m. on Monday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest">S&amp;P 500</a>: 4,468.73, up 0.23%</li></ul><ul><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Dow Jones Industrial Average</a>: 34,869.63, up 0.76% (261.91 points)</li></ul><ul><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Nasdaq Composite</a>: 15,105.58, down 0.07%</li></ul>The Fed's two-day meeting will begin on September 21 and policy makers will release a summary of economic projections, or the dot-plot chart of interest-rate expectations.Around the <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword>, <a href="https://markets.businessinsider.com/stocks/mstr-stock?utm_source=markets&amp;utm_medium=ingestgest">MicroStrategy</a>made <a href="https://markets.businessinsider.com/news/currencies/microstrategy-bitcoin-holdings-michael-saylor-cryptocurrency-btc-mstr-crypto-2021-9">another big purchase of bitcoin</a>, bringing the value of its holdings of the most traded cryptocurrency to about $5.1 billion.<a href="https://markets.businessinsider.com/currencies/ltc-usd?utm_source=markets&amp;utm_medium=ingestgest">Litecoin</a> surged and then sharply fell after a <a href="https://markets.businessinsider.com/news/currencies/litecoin-walmart-fake-press-release-crypto-payments-partner-global-newswire-2021-9">fake press release said that Walmart </a>is partnering with the coin for payments.Mohamed El-Erian said supply chain disruptions around the world <a href="https://markets.businessinsider.com/news/bonds/supply-chain-issues-global-last-few-years-mohamed-el-erian-2021-9">are set to continue for a few years</a>, and warned high prices across economies could bring a return to a 1970s-style stagflationary environment.<a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Gold</a> rose 0.2% to $1,792.71 per ounce. The yield on the US 10-year Treasury note slipped to 1.32%. Oil prices climbed.<a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest"> West Texas Intermediate crude</a> rose 1.2% to $70.55 per barrel.<a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestce=markets&amp;utm_medium=ingest"> Brent crude</a>, oil's international benchmark, gained 0.8%, to $73.48 per barrel. <a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> lost 3% to $44,733.16.

Dow jumps 261 points as investors brace for latest inflation data

Welcome to 10 Things Before the <keyword id="11907548" type="UNKNOWN" weightage="60" keywordseo="opening-bell" source="Orion">Opening Bell</keyword>.If this was forwarded to you, <a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">sign up here.</a> Plus, download Insider's app for news on the go - <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8amp;mt=8">click here for iOS</a> and<a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider"> here for Android</a>.Plus, join us for an exclusive Insider webinar on November 17: The future of crypto and its path to mass adoption. <a href="https://www.businessinsider.com/crypto-investing-webinar-bitcoin-ethereum-altcoin-regulation-and-opportunities-ahead-2021-10">Sign up here.</a>Let's jump in. 1. Peloton is the latest reminder that the stay-at-home trend is losing steam. The company cut its 2022 sales forecast, as well as subscriber projections, <a href="https://markets.businessinsider.com/news/stocks/peloton-stock-q1-earnings-forecasts-reopening-bike-treadmill-sales-2021-11" target="_blank" rel="noopener">sending shares tumbling as much as 36% on Friday</a>. On an earnings call with analysts, Peloton said it had underestimated the impact the economic reopening would have on its business.It's an all-too-familiar development for stay-at-home stocks, which were previously the darlings of the market as people were forced into lockdown. Chegg, which offers online tutoring, <a href="https://www.forbes.com/sites/sergeiklebnikov/2021/11/02/chegg-stock-plunges-as-revenue-takes-a-hit-from-schools-reopening/" target="_blank" rel="noopener">tumbled 50%</a> last week after saying it was losing students. Streaming giant Roku and web-conferencing favorite Zoom have also seen their stocks suffer.As for Peloton, it's now <a href="https://www.businessinsider.com/peloton-freezing-hiring-after-it-slashed-full-year-forecast-cnbc-2021-11" target="_blank" rel="noopener">freezing hiring</a> as it mulls how to tackle the home-exercise slowdown. Founder and CEO <a href="https://markets.businessinsider.com/news/stocks/peloton-pton-stock-crash-fallout-founder-john-foley-not-billionaire-2021-11" target="_blank" rel="noopener">John Foley has tumbled out of the billionaire ranks</a> - at least for now - amid the share sell-off.But analysts on Wall Street remain relatively optimistic. There was a wave of price-target cuts on Friday, but <a href="https://www.businessinsider.com/peloton-bike-tread-to-dominate-despite-earnings-analysts-2021-11" target="_blank" rel="noopener">forecasts are still bullish in the long term</a> compared to current levels.2. <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-elon-musk-share-sale-twitter-poll-2021-11">Tesla slips</a> as Elon Musk weighs dumping 10% of his shares after a Twitter poll. US stocks are drifting as investors book profits following fresh record highs, while the total crypto market value hits $3 trillion for the first time. <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-us-record-highs-jobs-report-nonfarm-recovery-2021-11">Check out how markets are moving here</a>.3. Morgan Stanley's stock-strategy team maintains a portfolio that's beaten the S&amp;P 500 for 3 years. CIO Mike Wilson just revamped it to be more defensive against shrinking spending and economic growth. <a href="https://www.businessinsider.com/stocks-to-buy-best-ideas-investment-ideas-portfolio-morgan-stanley-2021-11" target="_blank" rel="noopener">Here are the top 9 picks from the new list.</a>4. On the docket: PayPal, Softbank Corp., and AMC Entertainment, all <a href="https://markets.businessinsider.com/earnings-calendar">reporting.</a>5. What's in the new infrastructure bill? The House passed the long-awaited $1 trillion bipartisan bill on Friday, which includes $550 billion to fund advancements in public transit, clean energy, electric vehicles, and roads and bridges. <a href="https://www.businessinsider.com/whats-in-the-infrastructure-bill-amtrak-clean-energy-2021-7" target="_blank" rel="noopener">Here's a complete rundown of what's in it.</a>6. Billionaire investor Stanley Druckenmiller sounded the bubble alarm on meme stocks and crypto. Taking a short-term approach can prove disastrous for investors, he warned. <a href="https://markets.businessinsider.com/news/stocks/stanley-druckenmiller-klarman-meme-stocks-crypto-market-bubble-asset-prices-2021-11">Here's why he thinks the current bubble is far broader than the dot-com bubble.</a>7. JPMorgan said ethereum is a better bet than bitcoin as interest rates continue to rise. Ethereum is at the heart of both decentralized finance and the NFT market, the firm noted. <a href="https://markets.businessinsider.com/news/currencies/ethereum-ether-bitcoin-crypto-defi-nfts-interest-rates-gold-jpmorgan-2021-11" target="_blank" rel="noopener">Read why the firm expects bitcoin to fair worse when rates and yields rise.</a>8. A fake press release saying Kroger will accept bitcoin cash send the crypto soaring briefly on Friday. Kroger made a public statement denying the fraudulent report, and most gains were quickly erased. It's <a href="https://markets.businessinsider.com/news/currencies/kroger-bitcoin-cash-price-spike-fake-press-release-walmart-litecoin-2021-11" target="_blank" rel="noopener">reminiscent of when Walmart had to say it didn't accept litecoin</a> following a previous scam.9. How retail investors with real-estate aspirations can acquire shares of properties with as little as $10. This is according to Ben Miller, the co-founder and CEO of Fundrise, a $1.7 billion real estate investment company. He also shares <a href="https://www.businessinsider.com/how-to-earn-passive-income-real-estate-investing-fundrise-ceo-2021-11" target="_blank" rel="noopener">two assets within the industry that "have been and will continue to be highfliers."</a>10. 7 altcoins to buy. Technical analyst Adrian Zduńczyk says bitcoin's next big surge will be at $70,000, and that other cryptos will follow it higher. <a href="https://www.businessinsider.com/altcoins-to-buy-before-bitcoins-next-surge-bull-run-2021-11" target="_blank" rel="noopener">Here's his full list.</a>Compiled by Phil Rosen. Feedback? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.Sign up for <a href="https://www.businessinsider.com/subscription/newsletter">more Insider newsletters here</a>.

10 things before the opening bell

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to <a href="http://e.businessinsider.com/join/ci/finance-insider-social-first&amp;hash=36afac95fa844948a9f363295d512fca">get the best of Business Insider delivered direct to your inbox</a>.Paul Singer, the founder of $34 billion hedge fund Elliott Management, is out with his most recent client letter, and it's <a href="http://www.businessinsider.com/elliot-management-a-34-billion-hedge-fund-says-a-denouement-is-approaching-and-it-doesnt-bode-well-2018-2">full of gloomy prognostications</a>.In the letter - viewed by Business Insider - he once again <a href="http://www.businessinsider.com/elliot-management-a-34-billion-hedge-fund-says-a-denouement-is-approaching-and-it-doesnt-bode-well-2018-2">beats the drum about an impending market crash</a>. But he also takes aim at cryptocurrencies, calling them "one of the most brilliant scams in history" <a href="http://www.businessinsider.com/bitcoin-brilliant-scam-says-paul-singer-elliott-management-2018-2">in a brutal takedown</a>.Elsewhere, UBS economists say the risk of the <a href="http://www.businessinsider.com/us-recession-risk-is-material-and-rising-ubs-economist-says-2018-2">US slipping into a recession is "material and rising."</a> On the bright side, <a href="http://www.businessinsider.com/blackrock-stock-market-outlook-upgraded-after-correction-2018-2">$6.3 trillion manager BlackRock just boosted its outlook on US stocks</a>.Banks are <a href="http://www.businessinsider.com/banks-could-enforce-gun-control-florida-shooting-2018-2">mulling a creative way to enforce gun control</a> - even if the government doesn't make a single change.Walmart's online sales growth has sharply slowed - <a href="http://www.businessinsider.com/walmart-inventory-problems-slow-online-sales-growth-2018-2">and it highlights a key weakness in its battle with Amazon</a>. One graph tells you <a href="http://www.businessinsider.com/facebook-lower-share-time-spent-2018-2">everything you need to know about Facebook's problem with falling use</a>.Here's what else is happening today:<ul><li><a href="http://www.businessinsider.com/stock-market-credit-suisse-has-found-the-next-breaking-point-2018-2">Credit Suisse has identified what could be the next big breaking point for stocks</a></li><li><a href="http://www.businessinsider.com/sp-global-ratings-on-cryptocurrency-contagion-risk-to-banks-2018-2">S&amp;P: Warnings that cryptocurrency could crash the global financial system are 'much ado about nothing'</a></li><li><a href="http://www.businessinsider.com/us-economy-faces-risks-from-consumer-corporate-credit-2018-2">There's a 'yellow light flashing' in the economy - and it poses a threat to the stock market</a></li><li><a href="http://www.businessinsider.com/qualcomm-raises-it-bid-for-nxp-semiconductors-2018-2">Qualcomm raises its bid for NXP Semiconductors</a></li><li><a href="http://markets.businessinsider.com/currencies/news/litecoin-price-is-surging-after-litecoin-cash-hard-fork-2018-2-1016445796">Litecoin is surging after 'litecoin cash' forks</a></li><li><a href="http://markets.businessinsider.com/news/stocks/rite-aid-stock-price-rises-after-albertsons-agrees-to-the-buy-the-drugstore-chain-2018-2-1016457549">Rite Aid gains after Albertsons agrees to the buy the drugstore chain</a></li></ul>Uber's CEO already told Goldman Sachs the real plan: <a href="http://www.businessinsider.com/ubers-told-goldman-sachs-plan-to-replace-your-car-2018-2">It's not to replace taxis, it's to replace your car</a>. A hot startup could be the <a href="http://www.businessinsider.com/collective-healths-approach-to-self-insured-employer-health-plans-2018-2">perfect model for the JPMorgan-Amazon-Berkshire Hathaway healthcare initiative</a>.The official numbers are in, and "Black Panther" soared past the latest "Star Wars" <a href="http://www.businessinsider.com/black-panther-box-office-historic-242-million-beats-star-wars-2018-2">for a historic $242 million opening weekend</a>. The film's February box-office success is a rarity for the movie business - <a href="http://www.businessinsider.com/black-panther-success-in-february-rare-for-movie-business-but-that-could-change-2018-2">but industry insiders say that's about to change</a>.Lastly, these are the sneaky ways apps like <a href="http://www.businessinsider.com/how-app-developers-keep-us-addicted-to-our-smartphones-2018-1">Instagram, Facebook, and Tinder lure you in and get you "addicted."</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/heres-what-apples-battery-slowing-controversy-means-for-iphone-sales-2018-2">Here's what Apple's battery-slowing controversy means for iPhone sales</a></h3> <div> </div> </div>

What you need to know on Wall Street today

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Brandon Wade/Invision for Walmart/AP Images</div></div></div>Welcome to Crypto Insider, Business Insider's roundup of all the <a href="http://markets.businessinsider.com/currencies/BTC-USD" target="_blank" rel="noopener">bitcoin</a> and <a href="http://markets.businessinsider.com/currencies/cryptocurrencies" target="_blank" rel="noopener">cryptocurrency news</a> you need to know today. Sign up <a href="http://e.businessinsider.com/join/crypto-insider" target="_blank" rel="noopener">here to get this email delivered direct to your inbox</a>.Yesterday, Bitmain announced a new ASIC (application-specific integrated circuit) mining rig specifically for ethereum.Not only is it about 2.5 times more powerful than current GPU mining systems while costing only $800, <a href="http://markets.businessinsider.com/currencies/news/rbc-bitmains-new-e3-ethereum-miner-could-make-a-dent-in-nvidias-crypto-boom-2018-4-1020472208">RBC Capital Markets says it could make a dent in the boost Nvidia has seen from cryptocurrencies in the past year. </a>Here are the <a href="http://markets.businessinsider.com/cryptocurrencies">current crypto prices</a>:<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/cryptocurrencies">Markets Insider</a></div></div></div><div>What's happening:<section><section><ul><li><a href="http://www.businessinsider.com/coinbase-snags-a-former-new-york-stock-exchange-exec-to-push-crypto-to-wall-street-2018-4">Coinbase snags a former New York Stock Exchange exec to push crypto to Wall Street</a></li><li><a href="http://markets.businessinsider.com/news/Cryptocurrencies-are-getting-smoked-as-investors-move-to-risk-off-1020450903" target="_blank" rel="noopener">Cryptocurrencies are getting smoked as investors move to 'risk off'</a></li><li><a href="http://www.businessinsider.com/crypto-scams-hacks-first-quarter-of-2018-crypto-aware-2018-4">Here's how much cryptocurrency scammers are making by ripping off 'greedy' investors</a></li><li><a href="http://markets.businessinsider.com/news/Litecoin-surges-after-the-CEO-of-an-American-Express-backed-crypto-startup-explains-why-it-s-moving-away-from-bitcoin-for-smart-contracts-1020379060" target="_blank" rel="noopener">Litecoin surges after the CEO of an American Express-backed crypto startup explains why it's moving away from bitcoin for smart contracts</a></li><li><a href="http://markets.businessinsider.com/news/Bitcoin-had-its-worst-start-to-a-year-ever-1020435870" target="_blank" rel="noopener">Bitcoin had its worst start to a year ever</a></li></ul>New to Crypto Insider? Business Insider has a ton of articles to get you caught up to speed, including:<ul><li><a href="http://www.businessinsider.com/tech-finance-coinbase-buy-sell-trade-bitcoin-app-coinbase-2017-1">How to buy and sell cryptocurrencies using Coinbase on your iPhone</a></li><li><a href="http://www.businessinsider.com/how-paying-taxes-on-bitcoin-works">Paying taxes on bitcoin isn't nearly as hard as it sounds</a></li><li><a href="http://www.businessinsider.com/how-to-buy-ripple-xrp-a-step-by-step-guide-2018-1">How to buy Ripple's XRP cryptocurrency</a></li><li><a href="http://www.businessinsider.com/finance-veteran-matt-hougan-explains-why-wall-street-isnt-diving-into-bitcoin-2018-2">An ETF veteran who ditched Wall Street for crypto explains how bitcoin can fit into a portfolio</a><a href="http://www.businessinsider.com/how-to-buy-ripple-xrp-a-step-by-step-guide-2018-1"></a></li></ul>What other questions do you have about crypto? Ask them in Business Insider's <a href="https://www.facebook.com/groups/BI.CryptoInsider/">Crypto Insider Facebook group</a> today to discuss with readers from all over the world, as well as BI editorial staff. </section></section></div>Get the latest Bitcoin price <a href="http://markets.businessinsider.com/currencies/BTC-USD">here.&gt;&gt;</a> <a href="http://www.businessinsider.com/intelligence/bitcoin-101?IR=T&amp;utm_source=businessinsider&amp;utm_medium=ctgr&amp;utm_term=ctgr_leadgen&amp;utm_content=fintech_ctgr_leadgen&amp;utm_campaign=fintech_ctgr_leadgen_bitcoin-101"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-all-you-can-eat-restaurants-make-money-2018-3">How all-you-can-eat restaurants don't go bankrupt</a></h3> <div> </div> </div>

You Searched For "walmart litecoin" and got 13 results

Litecoin surges, then plummets after fake press release says Walmart will partner with the coin for payments

Emily Graffeo

'We really screwed up': Litecoin's creator admits its retweet spurred the Walmart hoax that triggered a rollercoaster ride for the token

Shalini Nagarajan

Crypto billionaire Mike Novogratz says he wasn't quick enough to short litecoin on the fake Walmart news

Shalini Nagarajan

No, Walmart didn't announce plans to accept cryptocurrency

Allana Akhtar

Morgan Stanley diversity disclosure - JPM axes some fees - Walmart litecoin hoax

Jordan Parker Erb

Kroger says it is not accepting bitcoin cash after fake press release sends the crypto briefly soaring

Isabelle Lee

AMC ticket buyers will be able to pay in ether, litecoin, and bitcoin cash by the end of the year, the movie chain's CEO says

Shalini Nagarajan

PE recruiting in overdrive - Merrill Lynch's 'Project Thunder' - Goldman's new CFO

Jordan Parker Erb

Crypto dossiers - Goldman to buy GreenSky - Robinhood's CMO exits

Jordan Parker Erb

Dow jumps 261 points as investors brace for latest inflation data

Carla Mozée

10 things before the opening bell

Phil Rosen

What you need to know on Wall Street today

Alex Morrell

CRYPTO INSIDER: Mining ethereum is about to get a lot cheaper

Graham Rapier

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