Day: February 20, 2020

Virgin Galactic Stock Is Skyrocketing, Will Take Bitcoin to Shoot You Into Space

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Virgin Galactic is one of the leading ventures in the emerging private space race alongside companies such as Spacex. However, it is being compared now mostly to another Elon Musk creation – Tesla. This is because Virgin Galactic stock is skyrocketing as traders rush in to bet on the futuristic promise of space tourism. Its founder, the famous entrepreneur Richard Branson, announced that the company already accepted bitcoin for space flight tickets back in 2013. Also Read: NASA to Launch Bitcoin to the Moon? Space Agency Seeks Crypto Experience Virgin…

10% Plunge In Stocks ‘Looking Much More Probable’ as Coronavirus Spreads – Goldman Sachs

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Analysts at Goldman Sachs believe the market may be underestimating the impact of coronavirus on corporate earnings and economic growth. The novel disease has infected nearly 76,000 people, killing 2,130 in the process. Some scientists believe the actual infection rate is much higher. U.S. stocks closed at record highs on Wednesday, with the S&P 500 Index returning nearly 5% year-to-date. The record surge in stock prices leaves investors vulnerable to extreme downside risks as coronavirus threatens to disrupt everything from consumption to supply chains. That’s the main takeaway of a…

10% Plunge In Stocks ‘Looking Much More Probable’ as Coronavirus Spreads – Goldman Sachs

boss

Analysts at Goldman Sachs believe the market may be underestimating the impact of coronavirus on corporate earnings and economic growth. The novel disease has infected nearly 76,000 people, killing 2,130 in the process. Some scientists believe the actual infection rate is much higher. U.S. stocks closed at record highs on Wednesday, with the S&P 500 Index returning nearly 5% year-to-date. The record surge in stock prices leaves investors vulnerable to extreme downside risks as coronavirus threatens to disrupt everything from consumption to supply chains. That’s the main takeaway of a…

Sweden Is Testing Its New Central Bank Digital Currency

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The country of Sweden has begun testing an e-krona, bringing it that much closer to the proper release of a central bank digital currency (CBDC). The pilot program will be in operation for one year, until February 2021. If and when the e-krona formally launches for use by the public, the idea is that this blockchain-powered currency would drive conventional payments and banking activities throughout the country. Instead of swiping a credit card or spending fiat currency, everyday transacting can move to the blockchain. CBDCs are a hot topic these…

New Horizons Has One Completely Unforgivable Flaw

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The latest Nintendo Direct revealed new information about Animal Crossing: New Horizons. We learned a ton about the game, including that it will feature the return of the museum and Isabelle. Unfortunately, Nintendo revealed one glaring flaw that should completely baffle you. Thursday brought the first Nintendo Direct in a while, and it delivered a heap of juicy details about Animal Crossing: New Horizons. The YouTube chat was filled with fans geeking out about the game. And especially the return of the museum and fan-favorite character Isabelle. All-in-all, this Direct…

Indonesian Customs Joins IBM’s Blockchain Supply Chain Platform

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IBM Indonesia has revealed that the Indonesian Directorate General of Customs and Excise has commenced using the blockchain-based shipping platform, TradeLens. The news follows several months of platform implementations, with the Indonesia Customs and Excise Department announcing that it would join the TradeLens consortium late last year.  The announcement has seen Indonesia’s customs department become the 11th government agency to join the TradeLens consortium – of which other members include the customs authorities of Thailand, Azerbaijan, and Canada, among others. Tan Wijaya, the president director of IMB Indonesia, expressed his…

Officials Arrest US Resident for Allegedly Laundering Drug Proceeds With Crypto

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The U.S. arrested an alleged money launderer Tuesday on accusations of using cryptocurrencies and cashier’s checks to obfuscate the origins of funds related to drug running. First noted by George Washington University’s Seamus Hughes, the complaint, unsealed Wednesday, charges Pedro Antonio Aquino-Eufracia with conspiracy for allegedly participating in a drug cartel, laundering funds using a combination of cashier’s checks and cryptocurrencies. According to the filing, U.S. Drug Enforcement Administration (DEA) Special Agent Drew Gizzi alleged Aquino-Eufracia was part of “a large-scale, international Money Laundering Organization” (MLO), with individuals based in…

Australian Stock Exchange Has New Blockchain Equity Competitor

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NSX Limited, the operator of the National Stock Exchange of Australia (NSXA), is working on a joint blockchain-based project to enable same-day settlements. According to a Feb. 20 announcement, NSX has partnered with iSignthis (ISX), a publicly listed firm specializing in payment authentication services, to establish a new venture that would provide “multicurrency, real-time and same day clearing of share trades across multiple exchanges.” CHESS system will meet new competitor, DESS Dubbed ClearPay, the new venture will develop a delivery versus payment (DvP) platform that is designed to replace the…

Financial Giant Morgan Stanley Acquires E*Trade in $13B Deal

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Major investment bank Morgan Stanley is buying online trading firm E*Trade Financial Group, which would extend the bank’s offerings to everyday investors. The $13 billion deal marks Morgan Stanley’s largest takeover since the crisis of 2008, also bringing along E*Trade’s five million clients, $360 billion in assets and an online bank, the Wall Street Journal reported on Feb. 20. With the acquisition of E*Trade, Morgan Stanley will receive over 4,000 corporate customers and $580 billion of stock held on behalf of their employees. At the same time, E*Trade’s CEO, Michael…

EOS Hit Worse as Bitcoin, Altcoins Take a Bearish Beating

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EOS was among the worst-hit top cryptocurrencies this Thursday as bitcoin and altcoin market fell in tandem. The eighth-largest blockchain asset fell by circa 12 percent to $3.99, according to CMC’s 24-hour adjusted timeframe. The move downhill pushed EOS’s market cap to $3.82 billion. At its 2020 top, the valuation was over $5.15 billion. The price action showed that traders are using the local tops to take out short-term profits. EOS/USD pushed down by increasing selling pressure at YTD top | Source: TradingView.com, BitFinex The drop in the EOS price…