Tag Archives: United States

The US Federal Reserve announced a new set of measures to help the market in the current ongoing crisis. Among these moves is an open-ended commitment to keep buying assets under the quantitative easing measures. The markets responded with an uproar, and Bitcoin followed, charting a quick 13% increase before retracing to its current levels.“Open-Ended Commitment” To Purchase AssetsThe Federal Reserve announced a new set of measures aimed at saving the collapsing markets. Among the most...

NYU economics professor Nouriel Roubini attacked federal stimulus legislation Sunday as a light on aid for workers. His remarks echo the response from several prominent Democrats, including Sen. Bernie Sanders, who is running for president in the Democratic primary, and Senate Minority Leader Chuck Schumer. Likewise, House Speaker Nancy Pelosi had objections to the Senate GOP’s fiscal stimulus bill:We are beginning to review Senator McConnell’s proposal and on first reading, it is not at all...

This week was nothing if not tumultuous for Bitcoin. Last Friday, its price dropped a massive 40%, recording one of its steepest losses in history. However, throughout the past few days, Bitcoin managed to recover nicely, as it’s currently trading at above $6,000.One thing worth noting amid this crisis is the fact that Bitcoin, unlike traditional assets, held up entirely alone. It is still a largely unregulated asset, and as such, there are no safety nets around it. During the week, when the...

The recent economic meltdown, largely associated with the outbreak of the novel coronavirus (COVID-19) saw major companies lose a huge chunk of their stock value. Hence, a lot of investors were exposed to serious risks as their portfolios must have shrunk as a result.According to a recent report, Kelly Loeffler, the former CEO of Bakkt – the Bitcoin futures trading platform, who recently became a US Senator, sold millions in stocks following a private, all-senators briefing.Kelly Loeffler...

The novel coronavirus created an economic slowdown that had a massive impact on financial and stock markets throughout the world. Some of the global indexes such as the S&P 500, DJI, FTSE 100, and so forth, charted notable losses in a manner that hasn’t been seen for decades.Naturally, this also caused a serious negative impact on the cryptocurrency market. Bitcoin lost 40% of its value in a day while the entire market saw about $150 billion of its capitalization gone.With this in mind,...

Uber stock is falling after the firm confirmed that it was suspending carpool services as a result of COVID-19 despite a rally in the tech stocks.On March 17, the shares of Uber Technologies Inc (NYSE: UBER) closed lower 6.8% to $18.91 per share. But, as the coronavirus hit the global markets, other tech stocks rebounded. In the case of Uber, the shares dropped after the firm confirmed that it was suspending carpool services as a result of COVID-19. Today the fall continues and Uber stock is...

Two Canadian citizens were sentenced to 24 months in federal prison in the U.S. after conspiring to commit wire fraud and money laundering in a scheme to steal bitcoins from an Oregon citizen. The perpetrators posed as employees from the popular cryptocurrency exchange HitBTC and used a fake Twitter account to deceive the victim.Bitcoin Fraud Using A Fraudulent Exchange AccountAccording to the statement shared by the District of Oregon, the two perpetrators are Karanjit Singh Khatkar (23) and...

In a time of economic uncertainty, Brian Brooks, the Chief Legal Officer of Coinbase, has publicly stepped down from the company and is now moving on to serve the U.S. government as the Chief Operating Officer and First Deputy Comptroller of the OCC.According to the Office of the Comptroller of the Currency (OCC), Brooks’ new position will become effective as of April 1st, 2020. The designation was made by the OCC’s current Secretary of the Treasury, Steven T. Mnuchin, stating that Brooks,...

The world economy is in a state of emergency. Stocks are plunging continuously as investors are timid of the spreading novel coronavirus. While China appears to have managed to handle the situation and reports close to zero cases on a daily basis, countries from the European Union and the US see exponential increases.In yet another attempt to provide a helping hand to the markets, the US announced a second rate cut, bringing down interests to a near-zero. Additionally, the Fed will be buying...

One of the tenets of the cryptocurrency and blockchain industry is privacy and freedom. And now, privacy is at risk again. This time it’s thanks to the highly contagious Coronavirus that has shaken both the global stock market and crypto markets.  As the global pandemic continues to spread at a very high rate, governments of each country are taking drastic measures to fight the virus to prevent further spreads. One such move is to spy on the civilian population by tracking their movement...