El Salvador on Wednesday officially became the first country to adopt bitcoin as legal tender. President Nayib Bukele announced on Twitter just after 2 a.m. ET that the Central American country’s legislative body voted in favor of the so-called Bitcoin Law — making the digital currency the nation’s official legal tender, along with the US...Read More
Before he was known as the guy behind billions in losses on Wall Street, Bill Hwang had been aiming to join the rarified air of Jeff Bezos and Bill Gates by becoming a member of the $100 billion dollar club, sources said. Prior to the collapse of his family office, Archegos Capital, in March, Hwang...Read More
The price of bitcoin fell Tuesday, one day after US officials announced that they managed to recover most of the bitcoin that was paid as ransom to the Colonial Pipeline hackers. Bitcoin traded almost 12 percent lower on Tuesday. The crypto was exchanging hands at about $31,800 per coin as of noon ET. Other cryptos...Read More
Just three months after investor Bill Hwang’s investment firm imploded — leaving Wall Street with billions of dollars in losses — two Archegos Capital staffers are gearing up to test the strategy all over again, The Post has learned. Jensen Ko and Sterling Clay, who worked at Archegos until its epic collapse in March, are...Read More
The Reddit crowd’s latest stock darling is a little-known health care company that became a target of short sellers earlier this year after a respected research firm called it a “broken business.” Shares of Clover Health surged as much as 109 percent on Tuesday before retreating to a gain of closer to 50 percent as...Read More
Summer weather has arrived, and New England tourists are hungry for a lobster roll or a whole cooked lobster — but they’re going to have to pay up. Lobster is more expensive than usual this season due to a limited supply, high demand and the reopening of the economy as the nation moves past the...Read More
US job openings soared to a fresh record of 9.3 million in April while companies struggled to find new workers as the economy continued to heat up, the feds said Tuesday. Total openings rose by about 1 million compared to March, according to the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS. The...Read More
The San Jose Sharks will become the first NHL team to accept cyptocurrency payments, joining other pro sports teams from the NBA and MLB in embracing digital currency. Beginning at the start of the 2021-2022 season in October, the Sharks will accept cryptocurrencies including bitcoin, ether and dogecoin as payment for season tickets, suite leases...Read More
The World Bank is upgrading the outlook for global growth this year, predicting that COVID-19 vaccinations and massive government stimulus in rich countries will power the fastest worldwide expansion in nearly five decades. In its latest Global Economic Prospects report, out Tuesday, the 189-country anti-poverty agency forecasts that the world economy will grow 5.6 percent...Read More
Digital privacy experts are raising red flags about Walmart’s plans to give 740,000 employees free smartphones that the company says will improve worker productivity without collecting personal data. Walmart said Thursday that it planned to give nearly half its US employees free Samsung Galaxy phones by the end of the year. Employees will use the...Read More
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