Retail traders are ditching Virgin Galactic as the space exploration stock collapses from its all-time highs. The retail crowd is flooding into biotech stocks on speculation that they may benefit from the Wuhan coronavirus outbreak. These “dumb money” investors are setting themselves for failure. Many will see their investments evaporate as institutional investors pull the
This week the equity markets experienced their worst week in 12 years and as this meltdown took place the crypto market also took a hit. Bitcoin (BTC) and the cryptocurrency market saw a significant selloff this week and this outcome is relatively reasonable given that people sell their assets out of fear of potential economic
In today’s crypto market discussion, Cointelegraph is joined by crypto analyst Naeem Aslam, and the CEO of Tokenmetrics Ian Balina to discuss the impact of the coronavirus on the cryptocurrency markets. Will the economic impacts of the coronavirus leave people flocking to cryptocurrencies as a safe haven? Naeem Aslam is skeptical of Bitcoin’s purported ‘safe
The stock market just experienced its fastest correction in 50 years. But that might not be so bad for the big wigs on Wall Street. An 18-year finance industry veteran explains how financials fire employees when markets crash. And they get sent off with plush severance packages, and paid garden leave (vacations) to exotic locales.
Wilshire Phoenix, a New York-based asset management firm, has responded to the United States Securities and Exchange Commission (SEC) rejecting its proposed Bitcoin (BTC) exchange-traded fund (ETF). The firm states it is “very disappointed” by the SEC’s ruling, emphasizing that it went to great lengths to ensure compliance with the SEC’s expectations: “We made every
CD Projekt, the company behind Cyberpunk 2077, has been named the 2nd biggest European games company. They’ve done a great amount for older game preservation, as well as player-friendly company policies. No company currently in gaming deserves success as much as they do. If there’s a game company out there that deserves success, it’s CD
Your bank, no matter how neo or how challenger, can’t bank Bitcoin (BTC). They could bank blockchain companies, adding value and providing services for the space, which would be good for both the bank and the clients, but they are afraid of repercussions from regulators and their partners. Since many smaller banks use “correspondent banks,”
A massive recovery in the Dow Jones late on Friday helped lift the index to just a 350-point loss. A huge spike in trading volumes suggests a short covering lifted the U.S. stock market of an uncertain weekend. Trump is believed to be weighing tax cuts as part of his coronavirus stimulus package, and Wall
Hours after experiencing a major denial of service attacks (DDoS) attack, Bitfinex has announced it repaid another part of the loan facility to Tether. In a Feb. 28 blog post, Bitfinex revealed that the cryptocurrency exchange repaid $100 million of outstanding loan facility to major stablecoin operator Tether (USDT). Similarly to a previous repayment in
Raid: Shadow Legends is a mobile RPG with an infamously aggressive marketing strategy. The developers claimed on Twitter that they do not sponsor YouTubers… and that all of their shout-outs have been unpaid. This is easily one of the stupidest lies you’ve ever seen. It’s hard to find a gamer who hasn’t heard of Raid:
As Cointelegraph reported yesterday, self-proclaimed Bitcoin (BTC) creator Craig Wright claims that Bitcoin can and will be seized to accommodate court orders. What follows is an analysis of whether what he says is possible and plausible. Screenshots resurfaced on Feb. 26, show that Wright claims Bitcoin will be seized without using the owner’s private keys.
Recently, the chairman of Virgin Galactic Chamath Palihapitiya said that “everybody should probably have 1% of their assets in Bitcoin,” as it is “an uncorrelated hedge” to the excesses in the financial industry. He did not approve of the strategy to buy Bitcoin only when the equity markets are down. Instead, he said that investors
Decentralized derivatives exchange Digitex has fallen victim to a significant data breach believed to have exposed the email addresses and possibly other information of more than 8,000 users. A former employee stole private information for more than 8,000 users, Christina Comben, who heads Digitex’s communications, said Friday. Comben told CoinDesk the exchange was “aware of
U.S. stocks continue to reel over coronavirus-related fears, and investors are increasingly betting the Federal Reserve will slash interest rates to stabilize the economy and markets. But whether those investors turn to bitcoin (BTC) as a crisis hedge remains to be seen. Such action by the Fed could, in theory, help bitcoin prices since lower
On Feb. 28, the Litecoin Foundation announced a partnership with MeconCash to roll-out Litecoin (LTC) to Korean won withdrawals and remittances from 13,000 ATMs in South Korea. The partnership will see LTC integrated onto MeconCash’s M.Pay payments platform. Litecoin will also be accepted as payment on MeconCash’s retail platform MeconMall, and to pay for games
CEOs are departing in droves. America’s corporate insiders, which include chief executives, dumped company shares at record levels. One Wall Street firm is projecting a stagnant year for U.S. companies. The stock market is in trouble. The Dow Jones Industrial Average printed its worst one-day point drop in history after plunging 1,191 points Thursday. The