Author: Multibagger News

Bitcoin Plunges to $54,300, Causing $662.62 Million in Liquidations – Michael Saylor Defends BTC Independence while Peter Schiff Warns of Further Declines As the world’s top investment manager and financial market journalist, I bring you the latest news on Bitcoin’s price plunge to $54,300, resulting in liquidations totaling over $662.62 million. In the face of this decline, Michael Saylor, CEO of MicroStrategy and a prominent BTC advocate, has taken to social media to express his unwavering support for Bitcoin, emphasizing its significance as a symbol of independence, strategically timed for U.S. Independence Day on July 4. However, Peter Schiff, a…

Recently, Addentax Group Corp. (NASDAQ:ATXG), a company specializing in mailing, reproduction, commercial art, and photography services, made a significant financial move by amending the terms of its outstanding senior secured convertible note. The amendment extends the maturity date of the note by one year, providing the company with additional time to manage its financial obligations. The note, initially issued on January 4, 2023, had an original principal amount of $16,666,666.66 and was held by accredited investors. The extension of the maturity date reflects Addentax Group’s strategic decision to restructure its short-term debt obligations and alleviate immediate financial pressure. Market watchers…

Breaking News: U.S. Job Growth Slows in June, Signaling Cooling Labor Market Demand In a surprising turn of events, the U.S. economy added more jobs than expected in June, but the figure was lower than the previous month, indicating a potential slowdown in labor demand. According to Labor Department data, nonfarm payrolls came in at 206,000 last month, down from 218,000 in May. The May reading was also revised down significantly from an initial mark of 272,000. Economists had predicted the June number to be around 191,000, but the actual figure exceeded expectations. Despite the slight rise in nonfarm payrolls,…

Amazon Under EU Scrutiny: Compliance with Digital Services Act in Question BRUSSELS (Multibagger) – In a significant development that could reshape the landscape of e-commerce, the European Commission has called upon Amazon (NASDAQ: AMZN) to furnish detailed information regarding its adherence to the Digital Services Act (DSA). This move underscores the EU’s commitment to enforcing transparency and accountability among major tech firms. Key Points: EU’s Request for Transparency: The European Commission is particularly interested in the transparency of Amazon’s recommender systems, which play a crucial role in shaping consumer choices on the platform. Deadline for Compliance: Amazon has been given…

As the world’s premier investment manager and financial market journalist, I bring you breaking news on the alarming increase in cryptocurrency theft. According to the latest report from blockchain researchers TRM Labs, the amount of cryptocurrency stolen in hacks globally has more than doubled in the first six months of 2024 compared to the same period in 2023. This surge in theft is driven by a combination of large-scale attacks and the soaring prices of cryptocurrencies. By June 24, 2024, hackers had managed to steal over $1.38 billion worth of crypto, a significant jump from the $657 million stolen in…

By Nidal al-Mughrabi, Mohammad Salem and Maayan Lubell Efforts to secure a ceasefire and hostage release in Gaza were gathering momentum on Friday after Hamas made a revised proposal on the terms of a deal and Israel said it would resume stalled negotiations. Israeli Prime Minister Benjamin Netanyahu told U.S. President Joe Biden on Thursday he would send a delegation to resume negotiations, and an Israeli official said his country’s team would be led by the head of the Mossad intelligence agency. A source in Israel’s negotiating team, speaking on condition of anonymity, said there was now a real chance…

Breaking News: $670 Million Wiped Out in 24 Hours as Bitcoin Plummets Below $55,000 – What You Need to Know As the world’s top investment manager, financial market journalist, and SEO mastermind, I bring you the latest update on the second largest liquidation event in cryptocurrency history. Overnight, almost $700 million worth of long orders were obliterated as Bitcoin dropped below $55,000, sparking a cascade effect in the market. Large liquidations not only drive prices lower but also trigger investor panic, leading to more liquidations and a steep decline in prices. The recent market downturn has been exacerbated by the…

Title: HF Foods Welcomes Dr. Yujie Wang as New Board Member, Signaling Strong Growth Potential As the world’s leading investment manager and financial market journalist, I am excited to report on HF Foods’ latest addition to their board of directors. Dr. Yujie Wang brings a wealth of experience and expertise to the team, positioning the company for significant growth in the coming years. This strategic move by HF Foods underscores their commitment to driving success and innovation in the industry. Dr. Wang’s background in finance and business will undoubtedly provide valuable insights and leadership as the company continues to expand…

Hurricane Beryl Devastates Caribbean Islands, Signals Climate Change Impact on Increasingly Dangerous Hurricane Season As the Category 3 storm Hurricane Beryl heads towards Mexico’s Yucatan Peninsula, the International Federation of Red Cross and Red Crescent Societies (IFRC) reports devastating damage in several Caribbean islands. IFRC’s disaster manager, Rhea Pierre, warns that storms of similar magnitude are expected to become more common due to the effects of climate change. The severity of damages caused by Hurricane Beryl highlights the new reality of unprecedented hurricanes becoming an annual occurrence for Caribbean countries. Higher sea surface temperatures are causing storms to strengthen quickly…

Auto Affordability Plunges to 2008 Levels: What This Means for Your Wallet and Investments Introduction In a surprising turn of events, auto affordability has dipped to levels not seen since the 2008 financial crisis, according to recent research by Morgan Stanley. For prospective car buyers and investors alike, this development holds significant implications. In this article, we will dissect the factors driving this trend and provide actionable insights on how to navigate these choppy waters. The Current State of Auto Affordability Morgan Stanley’s latest report indicates that the average American household now spends a larger portion of its income on…