Day: February 28, 2020

Australian Judge Says Crypto Is a Legitimate Investment Vehicle

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As part of a defamation case in front of the New South Wales, or NSW district court, Judge Judith Gibson allowed cryptocurrency usage as collateral. “This is a recognized form of investment,” Gibson said of cryptocurrency, also acknowledging its volatility, according to a brief from the Australian Associated Press. The plaintiff vies for crypto usage As part of the defamation case, the NSW court stated the accusing party must place $20,000 AUD, or approximately $13,000 USD, in a bank account guarded by the courts. Should the accusing party lose or…

Dow Claws Back Huge Losses at Close as Trump & Fed Rumors Spook Bears

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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 Street can’t rule out an emergency intervention from the Federal Reserve. The Dow Jones pared losses by 600 points at the close Friday, as U.S. equity markets rebounded from intraday lows. News broke late in…

Shadow Legends Just Got Caught in the Stupidest Lie Imaginable

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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: Shadow Legends. The mobile game has been supported by a massive marketing push over the past year. Pretty much any YouTuber who’s even vaguely connected to the gaming industry has had a video sponsored by…

CoinMarketCap CEO Hosts ‘Live’ AMA on Twitter — With No Video

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Crypto data site CoinMarketCap hosted a “live” ask me anything, or AMA, session on Twitter with company CEO and founder Brandon Chez — but the session only included Chez on Twitter standby posting comments, not on video.  “I do value my privacy, but [am] not completely opposed to trying more of a live format in the future,” Chez said in a tweet when asked if the AMA format was for anonymity or privacy purposes. “We’ll see how this AMA goes,” he added.  Chez appears quite private The AMA’s format lines…

U.S. Media Accused of Hyping Coronavirus to Bring Down Donald Trump

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White House chief of staff Mick Mulvaney has suggested the U.S. media is exaggerating the threat of coronavirus to “bring down” President Trump. Mulvaney implored Americans to ignore the media and turn off their televisions for 24 hours. “This is not Ebola, it’s not SARS, and it’s not MERS,” claims Mulvaney, despite not being a medical expert. Even the most hardcore Donald Trump supporters had to be rolling their eyes at what Mick Mulvaney had to say about coronavirus on Friday. The chief of staff was interviewed at the Conservative…

Why Gold Is Suddenly Crashing Along With Stocks

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Gold’s price posted its biggest single-day slide since 2013. The yellow metal bottomed at $1,564.00/oz., wiping out more than two weeks’ worth of gains. The selloff was triggered by fears that coronavirus will impact demand for raw materials as economic growth grinds to a halt. Steep declines in stocks and other assets may have also forced traders to give up their gold positions to cover losses elsewhere. The price of gold plunged on Friday, selling off in lockstep with equities as the impact of coronavirus quickly spread to the commodities…

The Dow Is Plunging Because the Stock Market Didn’t Take the Fed’s Bait

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The U.S. stock market fell again on Friday after the WHO raised its threat level on the coronavirus (COVID-19) to “very high” and flirted with “pandemic” terminology. Briefly boosting a shaky Dow Jones, Fed Chair Jerome Powell spoke this afternoon. A cataclysmic drop in Boeing shares did much of the damage to the Dow 30. The Dow Jones tumbled toward another ugly loss on Friday, even after a surprise message from Jerome Powell raised hopes that the Federal Reserve will intervene to support a fragile stock market. Powell’s comments sparked…

The Dow Is Plunging Because the Stock Market Didn’t Take the Fed’s Bait

boss

The U.S. stock market fell again on Friday after the WHO raised its threat level on the coronavirus (COVID-19) to “very high” and flirted with “pandemic” terminology. Briefly boosting a shaky Dow Jones, Fed Chair Jerome Powell spoke this afternoon. A cataclysmic drop in Boeing shares did much of the damage to the Dow 30. The Dow Jones tumbled toward another ugly loss on Friday, even after a surprise message from Jerome Powell raised hopes that the Federal Reserve will intervene to support a fragile stock market. Powell’s comments sparked…

As Fed Contemplates Coronavirus-Prompted Easing, Bitcoin Traders Bet on Halving

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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 rates would likely reduce the appeal of income-yielding assets such as U.S. Treasury bonds, according to analysts tracking the 11-year-old cryptocurrency. So far, the Fed has not said whether it would cut rates, with Chair Jerome…

‘New’ PS5 Details Are Out – And Boy, Will They Disappoint You

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‘New’ PS5 Details Are Out – And Boy, Will They Disappoint You The latest details about the PlayStation 5 will leave would-be fans of Sony’s next-generation PS5 console even hungrier for a reveal event. Published: February 28, 2020 8:19 PM UTC With the appetite for PlayStation 5 news growing with each passing day, GameStop’s latest info drop will do little to quench the growing thirst for PS5 news. | Source: Ascannio/Shutterstock.com Impatience is brewing as Sony maintains its PS5 radio silence. GameStop’s PS5 registration page features the latest morsel of…