Republished with full copyright permissions from The San Francisco Press.

Latest developments in the business world, including the much-anticipated Instacart IPO, FTX’s legal action against Sam Bankman-Fried’s parents, Wall Street’s response to inflation concerns, Square’s leadership transition, Elon Musk’s plan to combat Twitter bots, and Ken Griffin’s perspective on the GOP presidential primary. Read on to get the scoop on these intriguing topics.

Instacart Prices IPO at $30 a Share, Valuing Grocery-Delivery Company at About $10 Billion:
Instacart, the renowned grocery-delivery platform, is set to make its debut on the Nasdaq Stock Market. With an IPO pricing at $30 per share, the company’s valuation stands at approximately $10 billion. The market awaits the stock launch eagerly, marking the arrival of a notable venture-backed tech company since December 2021.

FTX Sues Sam Bankman-Fried’s Parents over Misappropriated Funds:
FTX, a prominent cryptocurrency exchange, has filed a lawsuit against Joe Bankman and Barbara Fried, parents of its CEO Sam Bankman-Fried. The exchange alleges that Bankman and Fried either knew or ignored signals of fraudulent activity orchestrated by their son and his business partners. The lawsuit sheds light on a $10 million cash gift and a $16.4 million luxury property transfer amid imminent insolvency concerns for FTX.

Wall Street’s Fed Watchers Brace for ‘Higher-for-Longer’:
The recent surge in Brent crude prices has heightened concerns about inflation. Investors on both sides of the Atlantic have responded by selling off bonds. Speculations about the Federal Reserve’s response to inflation persist, with Wall Street projecting rate cuts next year as inflation gradually recedes. However, economists believe that the prime lending rate will remain close to 5 percent by the end of 2022.

Square CEO Alyssa Henry Steps Down; Jack Dorsey Assumes Additional Role:
Square, the financial services and digital payment company, sees a leadership transition as CEO Alyssa Henry steps down. Jack Dorsey, already serving as Block Head and Chairperson, will now take on the additional responsibility of “Square Head.” This shift marks an interesting development for the company, and the industry will closely watch how Dorsey navigates Square’s future.

Elon Musk’s Plan to Combat Twitter Bots:
During a recent conversation with Israeli Prime Minister Benjamin Netanyahu, Elon Musk announced an upcoming change for Twitter users. In an effort to curb hate speech amplified by bots, Musk revealed that users would soon have to pay for certain services on the platform. This move aligns with his belief that if he had to pay for Twitter, others should too.

Billionaire Ken Griffin Offers Perspective on DeSantis’ Presidential Campaign:
Noted billionaire and former donor to Florida Governor Ron DeSantis, Ken Griffin, shares his thoughts on DeSantis’ 2024 campaign. Expressing uncertainty about the governor’s strategy and target voter base, Griffin’s opinion adds an interesting perspective to the upcoming GOP presidential primary. Furthermore, Griffin touches on the ongoing battle between DeSantis and Disney, questioning its impact on the state’s overall reputation.