City Sandwich Financial News

Sandwich chain Subway said Thursday it will be sold to the private equity firm Roark Capital.

Sandwich chain Subway said Thursday it will be sold to Roark Capital, a private equity firm with expertise in restaurant management

Popular sandwich chain Subway is selling itself to private equity firm Roark Capital for $9.55 billion. The deal ends a long-drawn auction that saw several competing bids and comes with several conditions that defer payment on part of the deal consideration. Founded in 1965, Subway is still owned by its founding families.

By Abigail Summerville, Anirban Sen and Deborah Mary Sophia

By Abigail Summerville

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₹90 lakh), setting a new record for the Major League Soccer (MLS) in terms of ticket prices. Ticket prices skyrocketed after Messi's official signing with the MLS team owned by David Beckham, with some seats witnessing a surge in prices. However, there are still more affordable options available for Friday's game against Cruz Azul, with an average price of $487 ( ₹40,000), CNN reported.

The controversy began earlier this month, when a journalist shared a photo of his bill from PVR Noida, showcasing the exorbitant prices he paid for a regular-sized tub of cheese popcorn and a same-sized Pepsi. In his social media post, he highlighted how the cost of these snacks was nearly equivalent to an annual subscription of Amazon Prime, expressing concern over the affordability of movie outings with family. “Rs 460 for 55 gm of cheese popcorn, Rs 360 for 600 ml of Pepsi.

Congress on Tuesday accused the BJP of double standards, saying when that party was ruling in Karnataka, its government bought 95% of Food Corporation of India’s rice stock in open auction between January and May this year, but now in opposition, it is blocking a similar sale of the grains to the state. The Congress wrested power from the BJP after the May 10 assembly polls.

A crypto trading bot programmed to perform arbitrage trades made various complex moves within the Ethereum blockchain, including taking a $200 million flash loan, all to secure a mere $3.24 profit. 

The wallet for the so-called trading bot operator is a play on name of the disgraced former spokesman for the US restaurant chain. In the sandwich maneuver, a trader places on order for a token on a DeFi app. Before the order is executed, a bot can snap up that token on the exchange. That drives up the price of the token on that exchange. After the price has risen, the bot sells the token for a profit. According to data from tracker EigenPhi, the bot was able to make about $1.67 million in two days at a time when yields across DeFi have remained unattractive. The gains sent the total profits made by traders or entities using the strategy to nearly $4 million in the past month, the firm estimated. Sandwich attacks aren’t a new concept in DeFi. The aggressors, using trading bots and algorithms, usually find potential victims by looking at a collection of pending transactions on DeFi exchanges running on blockchains like Ethereum. The bots are programmed to sniff out profitable transactions. The most attractive target usually are transactions involving tokens with low liquidity or large transaction size. In the latest case, the traders favored memecoins like PEPE and APED, which are tokens similar to the better-known one such as Dogecoin that are considered to have little real usage or value.

Tether, the issuer behind the leading stablecoin USDT has blacklisted an address that drained Maximal Extractable Value (MEV) bots for $25 million last week. 

Decentralized finance (DeFi) protocol SushiSwap recently suffered an exploit due to a smart contract bug leading to over $3 million in losses. Members of the crypto community responded to the hack, with some thinking that there was something fishy about the hack. 

Hackers were able to gain access to more than $320 million just in the first quarter of 2023, according to on-chain data consolidated by the quarterly report released by blockchain security firm CertiK.

Lending protocol Sentiment has managed to recover the stolen funds from the recent hack by offering the hacker a bounty worth $95,000.

Over 27 prominent Ethereum projects joined hands to launch MEV Blocker, a solution that aims to tackle and minimize the amount of value extracted from their users, a.k.a maximally extractable value (MEV) — Ethereum’s invisible tax. 

Uniswap [UNI] has become the latest casualty of exploits in the cryptocurrency industry. The attack was on the protocol’s Liquidity Pool (LP) and ended in the perpetrators carting away $25.2 million. A smart contract developer, who pseudonymously goes by Punk3155 on Twitter, alerted the community about the issue.

Maximal Extractable Value (MEV) bots who were trying to perform “sandwich trades” got outsmarted by a rogue validator, leading to a loss of $25 million worth of digital assets. 

One of the biggest reasons why NFT art is often successful is the person creating the digital asset - similar to what happens in real-world art. One of the most well-known artists in the NFT space is migwashere, the man behind the art in the legendary Bored Ape Yacht Club collection. Little needs to be said about this, as BAYC has entered the public consciousness - whether that’s inside the crypto industry or in the wider world.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.