Hey Snackers,
We knew that Crocs was trending in 2020, but we never thought this day would come: Crocs collabed with Balenciaga on heels. Say hello to "Stiletto Crocs."
Markets barely budged, while crypto prices slumped. About that...
Bite your coin... and your nails. Bitcoin fell to its lowest level in months yesterday — its crypto buddies Ether and Dogecoin fell, too. The dip happened after US officials recovered $2.3M in crypto that was paid as ransom to the Colonial Pipeline hackers. ICYMI: the US' largest fuel pipeline got hacked last month. Colonial paid the hackers $4.4M in Bitcoin to reclaim its systems.
Bitcoin for hostage... The ransomware surge has been putting a negative spotlight on Bitcoin. One cyber expert called BTC the "oxygen that fuels this ransomware fire." Now, the US government is getting involved as hackers are increasingly targeting critical infrastructure. Experts believe Russia is funding this "ransomware plague."
The Feds pulled back the curtain... Hackers who hijack computer systems demand payment in BTC, because it's hard to trace — but yesterday's ransom recovery proved it's not impossible. It's a big win for the government, because ransomware is rarely recovered. But it may have raised concerns over the security and anonymity of Bitcoin. Another potential reason behind the crypto drop: fear that a regulatory clampdown is coming for the crypto space.
503 Service Unavailable... The internet had a bad day. Dozens of websites, including the NYT and the UK government's portal, went dark for nearly an hour yesterday. Reddit's and Amazon's sites were also affected. Blame an internal glitch at cloud-service provider Fastly.
Fastly was down... but its stock wasn't. Fastly shares jumped 11% yesterday (awkward), despite the outage. Shares of rival content delivery networks, like Cloudflare and Akamai, were also up.
Investors noticed the flattering details... within the not-so-flattering headlines. The outage highlighted how many of the world’s websites rely on Fastly and other content delivery networks. While reading the outage news, investors may have noticed that Fastly has 336 enterprise clients — including big names like Amazon, NYT, Stripe, Shopify, and even a government. The bad news generated some big buzz for Fastly.
Authors of this Snacks own: Bitcoin and shares of Amazon and Shopify
ID: 1679084