Tag Archives: Coronavirus (COVID-19)

Bitfarms, a blockchain infrastructure company running one of the largest North America-based mining operations, is cutting staff members. The firm cited the ongoing economic and social turmoil caused by the COVID-19 pandemic.Coronavirus Hits Bitcoin Mining Firm In North AmericaThe unexpected outbreak of the COVID-19 harmed people’s health, financial markets, economies, and businesses. Numerous companies had to take radical measures to endure, and the cryptocurrency field is not exempt.Based...

Darknet markets are seeing increases of suspicious merchandise advertised to protect or even fight the COVID-19 pandemic. The sales are conducted in several countries using bitcoin and other cryptocurrencies as the primary payment method.Selling Coronavirus Merchandise Via CryptoThe rapidly expanding novel virus scared a lot of people, and they rushed to purchase protective gear such as N95 respirator masks. Naturally, the increased demand and the limited supply boosted the price of the...

The outbreak of the novel coronavirus (COVID19) caused serious turmoil in the global financial markets. According to a report by VanEck Global, an ETF and Mutual Fund Manager, during this crisis so far, gold correlates with Bitcoin increasingly in the short-term.Gold Correlates With Bitcoin Amid Coronavirus OutbreakGold and Bitcoin are two assets that have nothing to do with each other on the surface and yet they are oftentimes compared. A closer look reveals many similarities, such as...

Bitcoin’s price is a subject of serious speculation. Now that the halving is just around the corners, experts and analysts are even more active.While the majority of people rely on history as an indicator, there are those who believe that Bitcoin’s price will crash following the halving. In fact, some believe that the event, combined with the ongoing coronavirus crisis will cause a massive competition among miners with devastating effects on BTC’s price.Bitcoin Miners War Post...

Amid the spread of the COVID-19 pandemic, world governments and central banks should focus on launching CBDCs, a BIS report suggested. By using digital currencies, people could avert cash, credit card terminals, or PIN pads – which may transmit the novel virus.Coronavirus And MoneyThe COVID-19 outbreak took the world by storm. Over 1.2 million confirmed cases and 65,000 deaths since the start of the year. What’s even more threatening is the speed in which the virus spreads.Some reports...

More and more financial experts are standing behind gold’s role in an upcoming economic turmoil. The merits and safe-haven status of the precious metal are aligning popular beliefs that it will outperform most (if not all) financial assets in the next few years.Gold To Stand Above AllWhether or not the COVID-19 is the only reason why most financial markets are tumbling is still disputable. However, the fact is that equities, oil, and yes, the cryptocurrency market, plunged hard in the past...

Toilet paper isn’t the only thing people are hoarding during the coronavirus panic. In a sign of the times, FDIC Chair Jelena McWilliams literally asked Americans not to hoard cash under the mattress. That is not the message you want to turn on your television to hear the government telling people.Because that means it’s getting terrifyingly real out there.Is The FDIC Scared of A Bank Run?The FDIC is the Federal Deposit Insurance Corporation. It was created by President Franklin D. Roosevelt...