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Mark Zuckerberg, Facebook Say Goodbye to Their Crypto

Mark Zuckerberg, Facebook Say Goodbye to Their Crypto

There has been no official announcement. And even if there was one, this announcement would have gone unnoticed: Mark and Zuckerberg and his company, Meta Platforms (META) – Get Meta Platforms Inc. reportno longer have a digital payments project. Zuckerberg has chosen his moment well: the crypto sector is currently going through an unexpected crisis …

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Tesla Rivals Challenge Its Lead as Nio Sets Encouraging Record

Electric vehicle makers have been struggling over the last two years to produce and deliver cars, trucks and SUVs despite obstacles such as supply chain disruptions, semiconductor shortages and factory shutdowns caused by the covid pandemic. The industry’s leading EV manufacturer Tesla (TSLA) – Get Tesla Inc. report on July 2 said that plant closures …

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Celebrities Erase Their Crypto Ties As Crypto Mania Turns Into Crisis

Some say it started with Lillie Langtree. The British actress and socialite, known as “The Jersey Lily,” is credited with being the first celebrity to endorse a product when she became the poster girl for Pears Soap in 1882. In the Beginning… Others say it goes back to the 1760s, when Josiah Wedgewood, a British …

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Premarket stocks: Is the worst over for markets? No one can say

What’s happening: The S&P 500 notched its worst start since 1970, plunging 20.6% between January and June. The Dow had its largest first-half drop since 1962, and the Nasdaq Composite had its largest percentage decline ever. A nasty combination of circumstances has been hammering stocks. Russia’s war in Ukraine has driven inflation higher, exacerbating concerns …

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Crypto hedge fund Three Arrows files for US bankruptcy

Crypto hedge fund Three Arrows Capital has filed for bankruptcy under Chapter 15 of the US Bankruptcy Code, according to a court filing in the Southern District of New York on Friday. Three Arrows Capital is one of the biggest casualties of the latest so-called “crypto winter”. The digital asset ecosystem has been hit by …

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Weekend reads: What’s ahead for the stock market after that brutal first half of 2022

The first half of 2022 marked a big change for investors and consumers, as inflation reared its ugly head. It was the worst start of the year for US stocks since 1970. William Watts looks back at previous first-half bear markets and you might be surprised to see what happened afterward — every time. Meanwhile, …

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Mark Zuckerberg Has an Original Idea to Get Rid of Employees

Times are tough even for the giants of Silicon Valley that are accustomed to big profits. In recent months, the storm on the financial markets has particularly shaken the Nasdaq index, which is dominated by technology groups. Investors fearing a recession are liquidating their positions in risky assets. This particularly affects tech, which lives mainly …

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Coinbase Tries to Fight Really Bad News With Good News

Coinbase Global (COIN) – Get Coinbase Global Inc Report is having a wild week. The cryptocurrency exchange platform confronted a report that it is selling Immigrations and Customs Enforcement a suite of features used to track and identify cryptocurrency users and announced that it was seeking licenses with various countries in Europe. The Intercept reported …

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Bobby Bonilla Day: Here are other retired players who get huge annual payments

“Bobby Bonilla Day” was trending on Twitter on Friday as it does every year on July 1. That’s because it marks the annual date when the former New York Mets player receives $1.2 million from the team, despite being retired for over a decade. Bonilla’s agent, Dennis Gilbert, orchestrated a contract payout for the third …

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Markets are in trouble, but history shows there is hope on the horizon

Stocks closed down on Thursday as Wall Street said goodbye to a dismal second quarter and first half of the year. All three major indexes ended the month and quarter in the red. The S&P 500 printed its worst half-year since 1970, the Dow had its largest first-half drop since 1962 and the Nasdaq had …

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