Atlas Angle

"Be Cautious"—Coinbase Issues Urgent Warning After $800 Billion Drop in Bitcoin and Crypto Market Values Bitcoin and the broader cryptocurrency market have experienced a significant downturn amidst a general market slump, which could face an additional major challenge this week. Bitcoin's value plummeted below $50,000 on Monday, though it has since recovered somewhat. In July, the price reached $70,000, fueled by enthusiasm over Donald Trump's "game-changing" bitcoin plans. Since peaking in June, the total market value of bitcoin and other cryptocurrencies has dropped by approximately $800 billion. Despite billionaire investor Mark Cuban's bold bitcoin price forecast, David Duong, Coinbase’s head of institutional research, has warned of potential further volatility in bitcoin prices. I...

Japanese Stocks Rebound Sharply After Record Plunge On Tuesday morning, Japanese stocks experienced a dramatic rebound, recovering from their most significant single-day decline since the 1987 Black Monday crash. The Nikkei index surged by 9.4%, reaching 34,416.32 points, while the broader Topix index climbed 9.3% to 2,434.21. At one point, the Nikkei saw an unprecedented intraday rise of over 3,000 points, marking its largest-ever intraday points gain. The sharp recovery followed Monday's historic drop, where the Nikkei plummeted 12.40%, or 4,451.28 points, its biggest point loss on record. This dramatic fall was attributed to a variety of factors, including market jitters and significant liquidation of margin positions. Such a drastic drop set off alarm bells across global financial ...

South Korean companies, declaring a 'crisis,' are ordering managers to put in extra hours.   Seoul – "Back in the day,” said Lim Hyung-kyu, a retired Samsung Electronics executive in his 70s, "my weeks were Monday, Tuesday, Wednesday, Thursday, Friday, Friday, Friday.” Lim, who joined Samsung in 1976 and rose to become chief technology officer, described working weekends as routine and legal under past labor laws. “I didn’t mind,” he said. “It was fun for me.” However, times have changed. South Korea’s current labor laws restrict work to 52 hours per week—40 regular hours plus up to 12 hours of overtime—and generally consider weekends as time off. Younger employees are now more focused on work-life balance compared to previous generations. Recently, some major South Korean c...

The ongoing strike, the first in the electronics company’s history, involved only a small fraction of its workforce and lasted less than a month. Thousands of unionized workers at Samsung Electronics in South Korea, who began an indefinite strike last month, returned to work by Monday after failing to secure concessions from the tech giant. This strike, the first of its kind in Samsung’s decades-long history, involved around 6,500 employees—just a small fraction of the total workforce and union membership. According to Lee Hyun Kuk, vice president of the Nationwide Samsung Electronics Union, most strikers had resumed their duties by Monday. Negotiations between the union and Samsung over wages, bonuses, and vacation days had been ongoing for months without resolution. In June, the unio...