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On Jan. 19, 2025, someone paid $75.35 to buy a Trump meme coin. Today, assuming that investor held the cryptocurrency, the investment has lost 96% of its value. The crypto market has been more volatile than usual in recent weeks. Last week alone saw daily swings of as much as $10,000 in Bitcoin, the leading digital currency, pushing it down to nearly $60,000, a level not seen since 2024. Bitcoin has since recovered somewhat, though it is still hovering near $70,000, well below its $122,000 high last October. But as mainstream cryptocurrencies continue to give investors whiplash, meme coin holders have fared even worse. The Trump coin, in mid-morning trading Monday, stood at $3.39, according to CoinMarketCap. The Melania coin, which once traded as high as $13.73, is down roughly 99%, changing hands for about 12 cents. The drop in the Trump coin comes roughly a year after it began to lose investor support following Trumps inauguration. Last February, the coins market capitalization stood at $3.5 billion, already well below its $14.5 billion peak on the eve of his second inauguration. Today, it has fallen to $1.78 billion. Non-political meme coins have also seen steep declines. Dogecoin, which once flirted with $1 per coin, is now trading just over 9 cents. That represents a 25% decline year to date and a 68% drop since last September. Shiba Inu now costs $0.000006060, meaning that buying 1,650 coins today would cost just under one centa 20% drop from its highs last October. Losses over the past week span the broader meme coin market: Pepe fell 13%. Bonk dropped 16%. Pudgy Penguins declined 20%. And pippin slid 35%. (No, we didnt make any of those names up, and no, its not surprising if you havent heard of several of them.) Cryptos turbulence comes amid broader market instability in 2026. Wall Street has experienced its own roller-coaster ride, and even precious metals have been volatile, with silver prices swinging between $71 and $115 since Jan. 1. What makes crypto’s ups and downs particularly noteworthy, though, is the financial stakes held by President Donald Trump’s two eldest sons. Eric Trump and Donald Trump, Jr co-founded American Bitcoin, a publicly-traded bitcoin mining and treasury management company in March of last year. (The stock has fallen from $7.40 per share when it began trading to $1.28 in midday trading Monday.) Eric Trump, Donald Trump Jr., and 19-year-old Baron Trump are also co-founders of World Liberty Financial, a crypto company that is now generating more revenue for the family than the Trump real estate business. The Wall Street Journal calculates that the company has brought in at least $1.4 billion for the Trump family since Trumps re-election. The sons of Trump special envoy Steve Witkoff and Commerce Secretary Howard Lutnick also operate businesses with crypto interests. A White House spokesperson told the Journal that there are no conflicts of interest, as the ventures are run independently by the politicians sons. Meme coins have always been risky investments. All too often, they’re rug pullsget-rich-quick schemes where one entity sees significant returns, but investors are left with useless holdings. And while they might be tied to a pop culture phenomenon or a person, there’s no guarantee there’s any formal relationship between the two. That could be the case with the Melania meme coin. Last October, a lawsuit was filed alleging that the coins backers orchestrated a large-scale pump-and-dump scheme involving at least 15 cryptocurrencies, including $MELANIA. The complaint alleged that First Lady Melania Trump was used as window dressing for a crime engineered by Meteora and Kelsier. “Neither Melania Trump nor her representatives knew the project was part of a systemic fraud, and they would not have agreed to any use of her name had they known the truth,” the suit read.
Category:
E-Commerce
Kroger named former Walmart executive Greg Foran as its chief executive officer on Monday, 11 months after the abrupt resignation of its previous CEO. Foran has a reputation as a tech-savvy and detail-oriented leader. He led Walmart’s U.S. division from 2014 to 2019, where he focused on cleaning up stores, ensuring items were in stock, and improving the fresh produce selection. He also introduced online ordering and pickup, and accelerated Walmart’s digital capabilities. Walmart has reshaped itself into a tech-powered retail giant that has leaned heavily into automation and artificial intelligence, and it’s one of the biggest competitive threats to Kroger, the largest stand-alone U.S. supermarket chain. Shares of The Kroger Co. rose nearly 7% in early trading Monday after Kroger said Foran would lead the company. Walmart has become a larger challenge to Kroger and other traditional grocers as Americans increasingly pick up their groceries along with other general goods that Walmart sells. Walmart currently controls around 21% of the U.S. grocery market, compared to 8.5% for Kroger, according to the market research company Numerator. Kroger has also felt pressure from fast-growing discount chains like Aldi and Lidl and online behemoths like Amazon. Kroger proposed a merger with Albertsons in 2022 as a way to better compete with its rivals. But the Federal Trade Commission and two states Washington and Colorado sued to block the merger in 2024, saying it would raise prices and lower workers wages by eliminating competition. Judges ultimately ruled that the merger should not proceed. Kroger has struggled to adjust as customers increasingly embrace delivery, pickup and ship-to-home for their groceries. The company said in December that its e-commerce sales jumped 17% in the latest quarter. In November, Kroger shuttered automated fulfillment centers in Wisconsin, Maryland and Florida and said it would monitor its five remaining facilities. The company said it found that delivering directly from its stores was faster and cheaper than using the automated facilities, where robots pick and pack groceries. Kroger said the closures could help make its e-commerce business profitable this year. Kroger also recently expanded its partnerships with the third-party delivery services DoorDash and Uber Eats. For years, Kroger had limited what third parties could deliver and instead tried to meet demand with its own delivery drivers. But Kroger has also found that it needs to tread carefully when experimenting with new technology. When some of its stores switched to digital price labels, which allow stores to change prices instantly, state and federal lawmakers questioned whether the company would use the technology to surge prices. Kroger also got heat from lawmakers about a partnership with Microsoft that would place cameras in aisles and offer personalized deals to shoppers based on their gender and age. Foran succeeds Ron Sargent, who has been Kroger’s interim leader since former CEO Rodney McMullen resigned last March. McMullen had been Kroger’s CEO since 2014 and was also the company’s chairman. Kroger said he resigned after an investigation into his personal conduct, which was unrelated to the business but violated its ethics policy. Sargent will continue to serve as Krogers chairman to ensure a smooth leadership transition. Greg is a highly respected operator who knows how to run large-scale retail businesses, strengthen store execution and lead high-performing teams, Sargent said in a statement. His leadership style, focus on the customer, commitment to associates, and disciplined approach to execution are the perfect fit for Kroger.” Foran, a New Zealand native, most recently served as CEO of Air New Zealand, where he also improved digital capabilities, led negotiations with the airline’s union and guided it through the pandemic. Kroger, based in Cincinnati, has 2,731 stores operating under various brands, including Ralphs, King Soopers, Smith’s and Fred Meyer. It has 409,000 employees. By Dee-Ann Durbin, AP business writer
Category:
E-Commerce
It’s the day after Super Bowl Sunday, otherwise known as National Hangover Day. Because, let’s face iteven if you have zero interest in football and can’t even remember who won the game, if you’re like many Americans, you probably at least went to a watch party. (If for nothing else than for the joy-bringing halftime show led by the one and only Bad Bunny.) But if you’re feeling a little, er, off today. . .you’re far from alone. According to UKG’s annual Super Bowl Absenteeism Survey, an estimated 26.2 million U.S. employees were anticipated to stay home today. That means, that no matter who wins or loses the Super Bowl, the big loser on Super Sick Monday is the workplace. According to Amanda Augustine, resident career expert for TopResume and a Certified Professional Career Coach, per a press release, employers should adjust to the anticipated lower attendance. For many Americans, the Monday after the Super Bowl comes with a real post-game hangover, and I dont just mean from the snacks and cocktails. Its a mix of late nights, disrupted routines, and for some, a case of the post-game blues. Augustine continues, “Instead of forcing employees to power through, employers can get ahead of it by offering simple, creative support, like reminding staff about floating holidays, encouraging half-days for die-hard fans, or even providing small perks like breakfast or coffee to help people ease back into the work week.” When it comes to who rallies and who stays home, there’s a gender divide. New data from TopResume found the men are far more likely to call in “sick” than women. In fact, 9.11% of men said they were already planning to stay home after this years Super Bowl. Only 3.37% of women said they’d take the day to rest.Some age groups are more likely to suck it up and head to the office no matter how many Bud Heavies they housed while screaming at the TV and inhaling chicken wings. Only 13.08% of Gen X and 6.82% of Boomer workers say they have ever called in sick after Super Bowl celebrations. Likewise, only 3.49% of Gen Xers said they planned to do so this year and 1% of Boomer professionals said the same.But when it comes to millennials, the group seems to take more liberties at work, at least when football is involved. More than one-fifth (21.17%) have called in sick after Super Bowl celebrations and 8.64% were planning to take the day off this year. Still, no one is more keen to call out than Gen Z, according to the data. More than one in four Gen Z workers (27.45%) say they have called in sick after Super Bowl Sunday. And 12.42% admit that theyve done so more than once. This year, only 6.54% said they were already planning to stay home in advance. However, 18.3% said their decision would come down to how the night goes, according to the TopResume data. We’re gonna go out on a limb and say there are a lot of people who are lowkey zonked today, working from the couch, or straight up not working. With all of the inevitable Hangover Monday absences happening today from coast to coast, the real question is really: why isn’t today a national holiday already?
Category:
E-Commerce
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