The Daily Chase: Canada's Crypto King arrested on fraud charges
BNN Bloomberg
Here are five things you need to know this morning.
Canada’s Crypto King charged with fraud: Aiden Pleterski, the self-professed “Crypto King” of Canada, has been arrested and charged in connection with a $40 million fraud. Police in Whitby, Ont. said Pleterski and another man were arrested and charged on Tuesday following an investigation into a massive Ponzi scheme that began in the summer of 2022. Police will have more details at a news conference today, but what’s already out there on the story is fascinating. Pleterski was active on social media showing off his wealth and investment savvy, but investigators say it was all a house of cards. In U.S. bankruptcy proceedings, only about $3 million of funds have been recovered, out of tens of millions invested by hundreds of people. The legal developments in Canada today are the latest twist in a story that has had a number of them over the years and we’ll have lots of coverage throughout the day on BNN Bloomberg.
Wildfire situation in Fort McMurray worsening: The wildfire situation around the oilsands capital of Fort McMurray, Alberta has seemingly gone from bad to worse as a second blaze has ignited and is approaching the city from a new direction. Fire officials were mostly worried about a large blaze approaching from the southwest, but on Wednesday a new smaller fire flared up north of the city, closer to numerous oilsands operations. After a sprinkling of rain earlier in the week, the forecast doesn’t seem like it will be much help.
Walmart earnings beat on all fronts: Earnings for the world’s largest retailer came out this morning, and the numbers out of Walmart are being warmly received by investors. Same store sales grew 3.8 per cent during the quarter, better than Wall Street was expecting and far better than the trend at other big retailers like Home Depot. E-commerce specifically boomed, growing 22 per cent during the quarter. Walmart said the average customer receipt was flat, but the chain is booking more transactions than they were a year ago. The shares are up by more than five per cent in premarket trading.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Another climb for oil prices sent the U.S. stock market sharply lower, as hopes collapsed for a possible cut to interest rates by the Federal Reserve.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Jurors wade through daunting evidence in high-stakes Meta trial about social media risks to children
A stream of testimony and evidence has been presented in a New Mexico case exploring what Meta knew about the effects of its platforms on children.
Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Statistics Canada says retail sales were up 1.1 per cent at $70.7 billion in January, led by sales at motor vehicle and parts dealers.