Trump’s Coronavirus Response Isn’t Precaution, It’s Economic Terrorism

Trump’s COVID-19 response is an abrupt, radical reorganization of our society into a war economy. But there’s not an actual war happening. While Trump calls coronavirus “the invisible enemy,” the dangers of a nationwide standstill to Americans’ freedom and well-being multiply. Singapore and South Korea have contained coronavirus better than Italy without lockdowns. But the U.S. is following Italy’s model. This past week President Donald Trump suggested he’s “a wartime president” and referred to coronavirus as an “invisible enemy.” Meanwhile, New York Gov. Andrew Cuomo compared coronavirus to 9/11: …reminds…

Maker Foundation Rejects Accusations of Participation in Its Debt Auctions

MakerDAO (MKR) has denied accusations that the Maker Foundation placed the winning bids in all of its recent debt auctions. In a statement shared with Cointelegraph, the Maker Foundation states that it “is not purchasing MKR in the auctions.” Maker Foundation provides “limited technical assistance to some bidders” “Similar to how the Foundation created the Auction UI,” the foundation states that “it has offered limited technical assistance to some bidders on a first come, first serve basis to facilitate their timely and effective participation in the auctions.” The statement emphasizes…

Dow Futures Crash 1,000 Points as Fed’s Bullard Cites -50% U.S. GDP

Stock market futures crashed limit down across the board on Sunday as the coronavirus crisis continued. Fueling the capitulation, Fed President James Bullard cited the possibility of a -50% GDP reading in Q2 alongside 30% unemployment. The Dow Jones will face a rocky open unless Congress can somehow pass a funding bazooka to keep the U.S. economy afloat. Dow futures crashed limit down at the open of trade on Sunday as Federal Reserve St. Louis President James Bullard made some dire economic predictions. U.S. stock markets also nervously eyed the…

New York About to Surpass Italy As Hardest Hit by Coronavirus

Donald Trump and many Americans appear unaware that one of their states is about to become the hardest hit by coronavirus. Even as cases in New York surge, restrictions on movement are extremely relaxed. The blaze attitude toward coronavirus will likely have disastrous consequences. Coronavirus, it seems, is still a distant threat to some Americans. But as they preach about their right to freedom while clinging to the constitution and health insurance cards, the ground is crumbling beneath them. Despite ongoing coronavirus updates, many are incapable of seeing that the…

Coronavirus Quarantine Drove “Volume Resurgence” in Asia

Catherine Coley, the CEO of Binance US, revealed that the coronavirus quarantine in Asia drove a surge in trade volume during an interview with Bloomberg on March 16. On the subject of the recent correlation between Bitcoin (BTC) and the S&P 500, Coley asserts that both the traditional cryptocurrency markets are playing out a familiar long-term cycle. She states that the markets are experiencing what she terms the “CRIC cycle” — where “crisis” yields a market “response,” followed by “improvements,” and then a return to “complacency,” before the cycle then…

After BitMEX Meltdown, Should Shorting Be Banned on Crypto Exchanges?

Bitcoin’s (BTC) rapid 50% price drop in the wake of Coronavirus concerns aroused chatter around banning the ability for traders to assume short positions in cryptocurrency markets. Question is, would that be the right move? Crypto market daily performance. Source: Coin360 Flash crash raises spectre of shorting bans On March 12 Bitcoin dropped to prices not seen since April 2019, shedding half its value as fear gripped markets worldwide. The massive sell-off was instrumental in the carnage in which all cryptocurrencies except stablecoins suffered. Long positions worth around $1 billion…

Coronavirus & Volatile Stock Markets are No Reasons to Stop Saving For Retirement

Stock markets are very volatile, but it’s not a reason to panic and stop saving for your retirement. Investors who stay invested in the markets and don’t sell during recessions are better off in the long term. It’s essential to have an emergency fund that will serve as a cushion if you lose your job or get sick. Investors have been panic selling lately as the coronavirus is pushing the global economy into a recession. Markets are very volatile, and it’s hard to tell where they’re headed. Financial advisers generally…

Coronavirus ‘Didn’t Cause’ Crash, BTC Recovery ‘Will Take Months’: Hodler’s Digest, Mar. 16–22

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin price did not crash 60% due to coronavirus, Binance CEO says It’s fashionable to think that Black Thursday’s bloodbath on the crypto markets was caused by the coronavirus. But Changpeng Zhao, the CEO of Binance, disagrees. He believes the pandemic certainly triggered the current…

Dow Jones Set for a Disastrous Week as Coronavirus Relief Package Hits Roadblock

The Dow Jones Industrial Average is set for another poor week as House Speaker Nancy Pelosi expresses dissatisfaction with a key relief package. JPMorgan strategist says the lack of an immediate, large-scale stimulus package could cause further capitulation in the market. Major institutions like Morgan Stanley and BofA are predicting a 2008-style recession in the first half of 2020. The Dow Jones Industrial Average (DJIA) closed with a 4.6% drop on Friday despite the Federal Reserve and the Treasury’s willingness to introduce major stimulus. The Dow could be set for…

Gold Is Proving an Ideal Safe Haven Asset Even as Spot Price Plunges

The spot gold price just had its worst week in nearly four decades. As a result, investors are questioning its safe-haven status. But demand for gold is insatiable. Inventories are low everywhere. And the gold selloff for cash actually demonstrated the safe-haven thesis. Gold prices also plummeted at the beginning of the 2008 financial crisis. But after that gold saw its most dramatic rally in history. Gold recently came off its worst week since 1983. Bloomberg concluded the crashing gold price strips the precious metal of its safe-haven asset status.…