America’s $2 Trillion Crush on Jerome Powell Will Disappear Come Payback Time

More Americans have confidence in Jerome Powell than any Federal Reserve chair since Alan Greenspan. His decisive $2 trillion stimulus packages mean more Americans think he will do the right thing than Donald Trump. But how will Americans react when Powell’s generosity ends, and the bill has to be paid? America has a soft spot for Federal Reserve chairman Jerome Powell. The central banker has gained popularity due to his quick actions in mitigating the effects of the coronavirus pandemic. But it’s easy to love the man whose nine emergency…

Shroud’s New Xbox Ad Reveals Microsoft’s Real Mixer Agenda

Microsoft released a new Xbox Game Pass ad starring Mixer streamer Shroud. Shroud is one of several Twitch streamers who have left to join Mixer after signing exclusive deals with the platform. Ads like this may reveal Microsoft’s real agenda in bringing the streamers to Mixer. Gamers got a lovely surprise this week when Microsoft posted a new Xbox Game Pass ad starring Shroud to its YouTube channel. Shroud joined Mixer in October, following other popular streamers like Ninja and KingGothalion who also left Twitch for the service. Shroud Helps…

Total Crypto Derivatives Volume in Q1 2020 Spikes 314% from Q4 2019’s Average

A study by TokenInsight indicates that the total futures trading volume in the crypto industry reached over $2.1 trillion in Q1 2020. This is an increase of 314% from the 2019 Q4 average. According to the “2020 Q1 Cryptocurrency Derivatives Exchange Industry Report”, except for a slight decline in Q4 2019, the trading volume of cryptocurrency futures grew in 2019. The total market turnover in Q1 2020 is roughly eight times than Q1 2019. For trading volume analysis, TokenInsight included BitMEX, OKEx, Huobi DM, Binance Futures, Deribit, Bitget, Binance JEX,…

The Fed Shouldn’t Even Discuss Negative Interest Rates Next Week

The Federal Reserve’s FOMC meets on Wednesday. Given soaring unemployment, some economists are calling for negative interest rates. After years of failed policy in Europe and Japan, the U.S. should steer clear of this deflationary death-trap. The Federal Reserve meets next Wednesday, as the FOMC will decide on interest rates, which currently sit at record lows in the 0% to 0.25% band. Given the enormous economic damage to the United States from the coronavirus shutdown, some analysts are calling for negative rates. Here’s why Jerome Powell should resist taking the…

Did Facebook Just Leave Zoom Stock Bulls Holding an Empty Bag?

Zoom stock slid Friday after Facebook jumped into video conferencing. An announcement by Mark Zuckerberg left Zoom plunging 6%. But here’s the value Zoom offers that Facebook can’t touch. Zoom stock (NASDAQ:ZM) had a wild ride this week. The freemium video conferencing platform’s shares jumped 11% Thursday. The company announced an increase of 100 million users since Apr 1. In other words, the coronavirus lockdown sent armies of teleworkers signing up to use Zoom. It’s been one of the most sought after virus stocks since February. Zoom stock is up…

Trump Holds U.S. Postal Service Hostage to Get Revenge on Jeff Bezos

On Friday, Donald Trump said he wouldn’t give the U.S. Postal Service a $10 billion loan if they didn’t raise prices on Amazon. Shortly after, he tweeted that he wouldn’t let the Post Office fail. Trump has done nothing to help the USPS, and now he’s just using them to punish his enemy, Jeff Bezos. Donald Trump is ramping up his vendetta campaign against Jeff Bezos. The former reality TV star is a dangling $10 billion loan above the struggling U.S. Postal Service. It’s theirs if they just do what…

Facebook’s Calibra Team Outlines New Byzantine Fault Tolerance Testing Methods

Facebook’s Calibra team have published a research paper outlining a new method for Byzantine fault tolerance, or BFT, testing. Dubbed “Twins”, Claibra’s innovation comprises a lightweight method for testing a network’s BFT implementation. Calibra pioneers BFT testing strategy The paper asserts that while BFT systems “have seen extensive study for more than two decades,” the field “lack[s] a principled strategy for testing BFT implementations.” The testing method runs two instances of a node with the same identity to emulate Byzantine behavior — “including equivocation, double voting, and losing internal state.”…

One-Man Crypto Company Crushed by Netherlands’ AMLD5 Implementation

Dutch Bitcoin (BTC) savings platform, Bittr, has decided to cease operations ahead of Holland’s introduction of the EU’s AMLD5 anti-money laundering, or AML, regulations. Bittr’s closure follows criticism of the Netherlands’ implementation of AMLD5 — reportedly resulting in crypto firms incurring greater fees than credit card companies and traditional trusts. Dutch AMLD5 Forces Closure of Bittr Bittr’s founder, Ruben Waterman, posted on April 22 that the platform will shut down on April 28. Waterman protests being forced to collect sensitive identifying data pertaining to his clients, “even those that purchase…

The Housing Market Is Edging Dangerously Close to a $1 Trillion Reckoning

The housing market is teetering like a house of cards. Loan forbearances now represent nearly $1 trillion in unpaid principal. Short of a miraculous economic recovery, a wave of defaults is next. The federal bailout of the housing market ballooned by a stunning margin in the last week. According to mortgage data company Black Knight, nearly 500,000 new loans went into forbearance in one week. It’s a 9% jump in homeowners seeking relief through the CARES Act forbearance plan. That’s bleak news for the housing market. It brings the total…

WeBank Ranks Third in Blockchain Patent Filings For 2019

China-based digital bank, WeBank, rose to third place for number of Blockchain patents filed globally in 2019. Alibaba and Tencent took the first and second places respectively. According to the report published on April 24, the digital bank has climbed from fifth place to third after filing nearly 632 patents in 2019. 80% of them were related to technologies like blockchain, AI, cloud computing, and big data. Blockchain patent categories WeBank’s patents have focused on open source consortium chain infrastructure (48%), middleware (40%), and other solutions (12%) related to algorithms,…