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Hulk Hogan’s name used in latest memecoin scam

Famed wrestler Hulk Hogan’s social media account was just used to promote a new cryptocurrency called $HULK, part of a growing trend where celebrities’ online platforms are hijacked to endorse various memecoins.

Multiple posts appeared on Hogan’s verified X account and his official website, claiming that the wrestling legend was endorsing $HULK, a new memecoin. These posts quickly gained traction, causing the value of $HULK to skyrocket as fans and cryptocurrency enthusiasts rushed to invest.

You can read more on the matter here.

What’s going on?

• Canada’s Unemployment Rate Grows To 6.2% As Full Time Jobs Tumble In May (theDeepDive)

• Fed may wait to cut rates as job market stays strong (Reuters)

• Explosion at Paris Hotel Leads to Arrest of 26-Year-Old Amid Olympic Security Concerns (theDeepDive)

• Police use gas and batons, arrest pro-Palestinian protesters at McGill after they occupied building (Globe)

• Conservatives Accuse Liberals of Withholding ‘Secret Report’ on Carbon Pricing Impact (theDeepDive)

• Hedge Funds Andurand and Rokos Took Big Copper Bets Before Spike (Bloomberg)

• Donald Trump Expresses Reluctance to Declassify Epstein Files: “Phony Stuff” (theDeepDive)

• An elite squad of Ukrainian fighters have been battling Russian occupation on the front lines. This is the story of their war (Globe)

• US Army Launches Advanced Nuclear Power for Installations Program, Calls for Proposals (theDeepDive)

• Nearly two-thirds of middle-class Americans say they're struggling financially (FOX)

• New Report Calls For Ending Canada’s Temporary Foreign Worker Program (theDeepDive)

What’s the latest?

• Unemployment: Canada's unemployment rate rose slightly to 6.2% in May as the economy added 27,000 jobs, primarily part-time positions in Ontario. The report highlighted that fewer unemployed individuals are finding work compared to pre-pandemic averages, with the involuntary part-time rate increasing to 18.2% from 15.4% a year ago.

• US Jobs: The U.S. economy added 272,000 jobs in May, significantly surpassing expectations and highlighting the labor market's strength. The unemployment rate edged up to 4.0% from 3.9% in April, breaking a 27-month streak of being below this level. The strong job report led financial markets to decrease the probability of a September rate cut from 70% to 55%.

• Rents Jump: A new report by Urbanation and Rentals.ca reveals that the average asking rent for a home in Canada reached a record $2,202 in May, a 9.3% increase from the previous year and a 0.6% rise from April. This marks the first time average rents have exceeded $2,200. The average rent for a one-bedroom unit was $1,927, up 10.7%, while two-bedroom units averaged $2,334, a 12.1% increase.

• Rate Predictions: Market predictions suggest less than a two-thirds chance of another interest rate cut in July, with expectations of the rate reaching 4.25% by December and 3.75% by July 2025, suggesting further cuts are coming. Bloomberg's survey indicates economists foresee rates dropping to 3.5% by mid-2025.

• Border Strike: Canada Border Services Agency workers may take job action starting this afternoon if a deal is not reached by the 4 p.m. E.T. deadline. Over 9,000 CBSA employees, represented by the Customs and Immigration Union and affiliated with the Public Service Alliance of Canada, are involved. While most of these workers are deemed essential and must continue working, they can engage in job action outside working hours.

Copper, Jr. Mining, & Real Estate w/ Rick Rule

The stock market and stuff

• Gold Falls Nearly 3% Following China’s Central Bank Failing To Add To Reserves In May (theDeepDive)

• Exclusive: Major world economies seek to halt new private sector coal financing (Reuters)

• Tesla says lawyers who sued over Musk pay package deserve $13.6mn rather than $5.2bn (FT)

• GameStop Crashes 17% In Pre-Market Trading After Announcing Plan To Sell 75 Million Shares On Open Market (theDeepDive)

In the juniors

• Nevada Copper Sees Mercuria Holdings Nominee Step Down From Board As Bankruptcy Nears (theDeepDive)

• Spirit Airlines not considering Chapter 11 bankruptcy (Reuters)

• Rite Aid Won’t Exit Bankruptcy Until CEO Takes a Massive Pay Cut (theDeepDive)

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