JPMorgan Chase analysts are turning bearish on major tech and restaurant stocks, citing overvaluation risks as the S&P 500 hits record highs. Tesla (TSLA) faces criticism for its ‘sky-high valuation’ and potential earnings decline due to reduced EV subsidies. Rivian (RIVN) is also flagged for balance sheet challenges amid subsidy cuts and tariffs. Circle (CRCL), Snapchat (SNAP), and Bumble (BMBL) are highlighted as overvalued, with Snapchat struggling with ad spending volatility and Bumble facing a tough dating app market. Other stocks like Cheesecake Factory (CAKE), Intel (INTC), and Shake Shack (SHAK) are also seen as correction candidates. The S&P 500 closed at a record 6,286 points, raising concerns about market sustainability.
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0 in Finance and 0 in Crypto last weekAlabama Recovers $125K in Crypto from Pig Butchering Scams
Alabama’s Securities Commission (ASC) has reclaimed $125,000 in crypto for two residents who lost a combined $580,000 to ‘pig butchering’ scams—a form of romance fraud where victims are lured into fake crypto investments. The Baldwin County victim lost $185,000 after meeting a scammer on Bumble, while the Etowah County victim was defrauded of $395,310 via a WhatsApp ad impersonating Charles Schwab. Pig butchering scams now account for 33.2% of global crypto fraud ($9.9 billion in 2024), with criminals shifting to shorter cons to target more victims. The ASC warns that delays in reporting drastically reduce recovery chances, as most scams originate overseas with irreversible transactions. Federal authorities have sanctioned entities like Philippines-based Funnull Technology for enabling such schemes.
about Alabama Recovers $125K in Crypto from Pig Butchering ScamsGoogle Adopts Zero-Knowledge Proofs for Wallet Privacy
Google has implemented Zero-Knowledge Proof (ZKP) technology in Google Wallet to bolster privacy in digital identity verification. The feature enables users to confirm their age across platforms without sharing sensitive information, with partnerships like Bumble already adopting it. Google also plans to open-source its ZKP tools, encouraging broader adoption of privacy-first authentication. ZKPs, widely used in blockchain ecosystems like Ethereum and Cardano, are gaining mainstream traction, with experts praising Google’s move as a validation of privacy-focused innovation. The crypto community sees this as a significant step toward making privacy a default standard in digital services.
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