Day: February 11, 2020

Dow Futures Rocket but Fed’s Recession Alarm is Screaming

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Dow Jones Industrial Average (DJIA) futures point to a stock market open near all-time highs. Traders are seemingly ignoring the Federal Reserve’s own recession indicator as the yield curve inverts again. Fed chairman Jerome Powell is expected to “sound upbeat” in a testimony today. The S&P 500 and Nasdaq topped out at record highs in yesterday’s session, and the Dow Jones might follow suit today. DJIA futures shot higher on Tuesday pointing to an open just shy of all-time highs. Despite the record figures, there’s a silent alarm going off:…

Dow Futures Rocket but Fed’s Recession Alarm is Screaming

boss

Dow Jones Industrial Average (DJIA) futures point to a stock market open near all-time highs. Traders are seemingly ignoring the Federal Reserve’s own recession indicator as the yield curve inverts again. Fed chairman Jerome Powell is expected to “sound upbeat” in a testimony today. The S&P 500 and Nasdaq topped out at record highs in yesterday’s session, and the Dow Jones might follow suit today. DJIA futures shot higher on Tuesday pointing to an open just shy of all-time highs. Despite the record figures, there’s a silent alarm going off:…

Bitcoin, Gold, Dollars Safe for Investors, Coronavirus Deaths Top 1,000

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The coronavirus death toll is spreading fears to investors who are trying to turn to gold, the U.S. dollar and also Bitcoin as a safe haven. Investors are seeking safety in gold, the dollars and also Bitcoin as the coronavirus outbreak death toll in mainland China alone hit 1000. The virus has spread in a dozen other countries across the globe, raising a red alert to investors who are wary of the likelihood of an economic recession. As a result of the coronavirus outbreak, big investment companies in China have…

JPMorgan Considers Merging Blockchain Unit with Consensys

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The blockchain world may soon be seeing a major merger with the traditional financial sector. JPMorgan Chase, the United States’ largest bank, is reportedly considering merging its in-house blockchain unit Quorum with major Ethereum-focused firm ConsenSys. According to  a Reuters report on Feb. 11, unnamed persons familiar with the matter claim that the merger is likely to be officially announced within the next six months. The financial terms of the deal reportedly remain to be worked out. Ethereum ties are a plus Quorum is JPMorgan’s private blockchain platform built on…

JPMorgan May Merge Its Blockchain Project With Ethereum Studio Consensys: Report

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Banking giant JPMorgan Chase may soon merge its Quorum blockchain project with ConsenSys, the ethereum-focused software developer and investor. According to a Reuters report Tuesday citing “people familiar with the plans,” while the terms of the deal currently under discussion are still not agreed, the merger might happen within the next six months. Quorum was first reported in 2016, creating a wave of excitement as it officially connected the bank with ethereum, even if it was a private version of the tech. The firm suggested at the time that the…

Bitcoin Volatility Near Record Lows as Price Explodes by 35% in 2020

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Bitcoin’s trademark price volatility is now near its record lows, according to data gathered by Skew. The crypto data analysis portal highlighted that the realized volatility of the BTC/USD pair dropped to 53 percent over the last three months – from 70 percent on a one-year timeframe. It further noted that the dip in bitcoin’s volatility came against its supersonic price rally, adding that the negative correlation was a “positive development” for the cryptocurrency. “Bitcoin up 35% Year-To-Date with volatility remaining near record low levels is a positive development for…

Rockstar Downtime Hypes Excited Fans Praying for GTA VI Trailer

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Rockstar Games announces two-hour downtime scheduled for tomorrow. Fans speculate that a Grand Theft Auto VI trailer will drop in that time frame. Unlisted private YouTube videos found on Rockstar’s channel. Few games get the rumor mill churning like Grand Theft Auto VI. The latest theory doing the rounds has fans predicting that a trailer for the next entry in Rockstar’s storied franchise will drop tomorrow. Imminent Grand Theft Auto VI Trailer? A message on Rockstar Games’ support portal advises that Red Dead Redemption 2, GTA V, and Social Club…

William Shatner Doubts Craig Wright’s Claims to Inventing Bitcoin

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Captain Kirk seems unconvinced that the Australian computer scientist Craig Wright is the inventor of Bitcoin (BTC). William Shatner, the Canadian actor that played Captain Kirk in the original Star Trek series, suggested that Wright is not behind the pseudonym Satoshi Nakamoto — the seminal cryptocurrency’s creator. In a tweet on Feb. 11, Shatner said: “Ask yourself why would someone claim to be Satoshi and offer zero proof? Either put up or shut up, right?” The discussion started after a Twitter user answered Shatner’s announcement of having been at a…

Brussels Asks Europeans How to Regulate Bitcoin, Public Consultation Continues Into March

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The European Commission is gathering feedback from EU citizens, businesses, regulators and other interested parties to establish a regulatory framework for crypto assets and markets on a European level. The public consultation which started in December will continue until March 19, 2020, with the finalized proposal expected in the third quarter. Also read: Swiss Financial Watchdog Proposes $1,000 Client Identification Threshold for Crypto Transactions EU Legislative Process for Crypto Assets in Progress The legislative process in the European Union can be long and complicated – initiatives, roadmaps, assessments, and discussions…

Joint Venture Launches Canadian Dollar-Pegged Stablecoin for Financial Services

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A new stablecoin pegged to the Canadian dollar may help digitize the North American nation’s financial markets. Canada Stablecorp announced Monday it was issuing the “QCAD” stablecoin for “mass market,” including foreign exchange remittances and other financial products. Canada Stablecorp is a joint venture between cryptoasset manager 3iQ, which recently received approval to launch a bitcoin fund, and Mavennet Systems, a blockchain development firm launched last year. QCAD is being described as both a means of payment and a settlement solution. “It allows you to trade, to take positions against…