Multi-millionaire and former hedge fund manager, Mike Novogratz, recently posited government spending around coronavirus efforts may be the cause of recent mainstream and crypto market rallies. “Household Income in the USA could actually be up this year even though we could have 25% unemployment,” Novogratz said in a May 6 tweet, adding: “That is unprecedented.Thanks Uncle Sam and Chairman Powell. Helps with social unrest, might explain the retail bid to the stock market, and certainly helps make the BTC case.” It is unclear exactly what Novogratz meant in his tweet,…
Day: May 6, 2020
Abra Garners $5 Million from Stellar Development Foundation
The Stellar Development Foundation, or SDF, has allocated $5 million to crypto investment app Abra. The company now looks to incorporate the Stellar blockchain into its platform, as well as develop Stellar-based products. “We believe Stellar’s platform is one of the most scalable and versatile cryptocurrency platforms available today,” Abra CEO and founder Bill Barhydt told Cointelegraph in an email, adding: “That combined with a similar shared mission of democratizing access to financial services means that our companies are strongly aligned in our services roadmap going forward.” Abra gives mainstream…