This Is How Oil Prices Can Crash Below $0 (Yes, Really)

The coronavirus outbreak coupled with the Saudi-Russian oil price war has created a perfect storm for oil. According to one Wall Street analyst, we could soon see negative oil prices as supply far outstrips demand. As global storage capacity reaches its breaking point, oil producers may start paying customers to take delivery. The oil industry is on the brink of catastrophe as fear of a U.S  recession sends oil prices to their lowest level since 2002. West Texas Intermediate crude (WTI) collapsed by a staggering 19.2% to the $22 handle…

PS5 Price Will Be Astronomical Based On Hard Sell ‘Reveal’ Event

The PS5 price will be astronomical if Sony is selling it this hard. Wednesday’s PlayStation 5 “reveal event” was a major tease for PS5 gamers. The company pulled out all the stops to build value ahead of the release, using the same sticker shock prevention tactics employed in car sales. Sony live-streamed an event billed as “The Road to PS5” Wednesday. Several media outlets referred to the presentation as a “reveal event” even though it wasn’t. All Sony revealed is just how excellent, and expensive all the technology is that…

Exclusive Interview With Akon on His African Crypto Revolution

Rapper and entrepreneur, Akon, shares his vision for his forthcoming Akoin cryptocurrency in this exclusive video interview with Cointelegraph. The crypto platform will enable the tokenized trading of mobile phone credits, a popular alternative to many volatile fiat currencies on the continent of Africa. In this interview preview, Akon discusses how the widespread use of mobile phone credits as a means of trade across Africa inspired the Akoin crypto network. To find out about Akon’s plan to build crypto-powered cities in every major African city, check out our complete exclusive…

Atari Is Not Releasing an ICO Token… It’s Releasing 2 Tokens and a Crypto Casino

Legendary video game company the Atari Group will conduct an initial coin offering aimed at launching a cryptocurrency casino. Atari was founded in 1972 in Sunnyvale, California, though ownership has changed hands several times since then. The company currently belongs to Atari Interactive, a subsidiary of the French publisher, Atari, SA. Its stock is listed on NYSE Euronext Paris with a current market cap of just under $50 million. And now the company’s entering crypto. According to the company’s March 10th press release: “In 2018, the Group had granted an…

How EOS and ETH DeFi Made It Through Market Turmoil

On March 11 at 4:56 p.m. UTC, Tedros Adhanom Ghebreyesus, the director of the World Health Organization, stated that COVID-19 can be characterized as a pandemic. Industry experts consider the global uncertainty around this respiratory disease — from travel bans imposed by governments across the globe to the continuing global market turmoil — to be a trigger of the cryptocurrency market’s painful crash. Most cryptocurrencies saw their biggest 24-hour price drops in a single 24-hour period. The strong downward trend started off around 6:00 a.m. UTC on March 12 and…

Chrissy Teigen’s ‘Wifebot’ Outburst Shows Us How to Be Horrible Feminists

Chrissy Teigen was looking for blood on Twitter last night. She ripped poor Melania Trump to shreds for not “being better” during these trying times. Teigen is not only a horrible feminist, but she’s not that different than Melania. If we could all be as flawless Chrissy Teigen, then maybe the coronavirus would be gone already. Teigen went on Twitter yesterday to rip Melania Trump to shreds for her lack of action in these trying times. Warning: NSFW (for whoever’s still at work): Chrissy is making the world a better…

BitMEX Report: Issuance of CBDCs May Lead to Inflation

A March 18th post by BitMEX Research discusses the two approaches governments can take with regards to the issuance of a Central Bank Digital Currency (CBDC) and the ramifications for the economy. Money supply In the modern economy, the money supply is largely determined by the banks’ ability and/or willingness to make loans. “From a liquidity perspective, the largest deposit-taking institutions in an economy have an almost unconstrained capability to create new loans, since the funds loaned out will automatically get placed back into their own bank as a deposit.”…

The MakerDAO Auction Is Happening, Here’s What to Expect

The MakerDAO (MKR) community has locked in an auction to cover a multi-million dollar hole in DAI collateral after the sudden Ethereum (ETH) price crash on March 12. Scheduled for 10:28 AM EST on March 19, the system will auction newly minted MKR in exchange for DAI. The proceeds from the sale will be used to recapitalize the system and compensate the losses suffered by the borrowers who saw their Ethereum collateral auctioned off for zero DAI. As the stablecoin powers many decentralized finance (DeFi) applications, the stability of Maker…

The Dow Is Plunging as an Epic Cash Grab Fuels a Stock Market Crash

The stock market crash accelerated mid-week as falling oil prices and a surging U.S. dollar weighed on equities. Dow bulls are heading for the hills as the psychologically significant 20,000 level has given way. Nordea Research believes the spike in bond yields is the next phase of the coronavirus crisis. The Dow Jones plummeted by nearly 2,000 points on Wednesday as the U.S. stock market crash gathered pace. With a global economic and health crisis in full swing, cash is king. Bulls are even bailing out of bonds as equity…

With Bill Gates Quitting Microsoft, Is It Time for Warren Buffett to Pounce?

Warren Buffett let a friendship get in the way of an investment. Bill Gates is no longer a Microsoft director. He quit the board of Berkshire Hathaway too. It would be ridiculous to suggest that Buffett would have a conflict of interest now. Warren Buffett has never hidden his admiration for Microsoft (NASDAQ:MSFT). Two years ago, the Oracle of Omaha revealed that “stupidity” was to blame for not investing in the world’s largest software maker. The Berkshire Hathaway (NYSE:BRK.A) CEO additionally worried that his decades-long friendship with Bill Gates would…