We Blew a $4.2 Trillion Debt Bubble – Then 10 Million of Us Lost Our Jobs

The latest Federal Reserve consumer credit report released on Tuesday. It shows record levels of outstanding credit in February: $4.2 trillion. With unemployment rocketing, another financial crisis is around the corner. Total outstanding U.S. consumer credit stood at nearly $4.2 trillion in February. According to the latest consumer credit report from the Federal Reserve, seasonally adjusted consumer borrowing increased by 6.4% in February. As the economy flails through the worst financial crisis in living memory, consumer credit has become a massive liability to consumers and lenders alike. Consumer Credit Bubble…

Nearly 1 Million Americans Could Die from Coronavirus

Donald Trump warned Americans to brace for a rapidly rising death toll in the coming weeks. Coronavirus has yet to reach its peak in the U.S., and when it does Trump believes it cold rival world wars. Trump could be inflating the figures to boost his own image. This weekend Donald Trump issued a terrifying coronavirus update: the death toll could rival that of the First or Second World Wars. It’s unclear exactly what Trump meant by his statement, but it suggests he’s preparing for a death toll near 1…

1 Million Twitch Viewers Prove Valorant Is Already 2020’s Biggest Game

Close to one million viewers are tuned into Valorant streams on Twitch. Content creators are showcasing gameplay footage and impressions from a closed-door test last weekend. Valorant already has the makings of one of the biggest games of the year. In the lead-up to the launch of the Valorant closed beta on April 7, developer Riot Games allowed an exclusive group of content creators to try out the game. It was a closed-door affair, but Riot permitted participants to capture gameplay footage. Today, Riot Games lifted the embargo on that…

Coronavirus Pandemic Hits 1 Million – But What’s the Real Death Rate?

The coronavirus has now infected over one million people around the world as social distancing measures fail to halt the pandemic. Europe and the United States remain the new epicenter of the disease with thousands of additional deaths reported every day. The confirmed coronavirus death rate in several European countries has hit nearly 10% as socialized healthcare systems collapse under the pressure. The coronavirus pandemic is beginning to look unstoppable. Despite massive lockdowns around the globe, the number of infected continues to grow at an exponential rate. And as the…

Sony’s $100 Million Pandemic Donation is a Gaming Industry Wake-up Call

Sony announces a $100 million global relief fund to help fight the COVID-19 pandemic. First, $10 million is being given to the World Health Organization’s pandemic fighting force. In comparison, other gaming companies have offered just thousands of dollars to fight the pandemic. In a press release, Sony announced the Sony Global Relief Fund for COVID-19. This fund offers $100 million for medical teams and first responders fighting the pandemic, children and educators, and those in the creative industry. Sony is first giving $10 million to COVID-19 Solidarity Response Fund…

$300 Million Star Citizen’s Development Hell Must Be Stopped

Star Citizen is a game that was originally crowdfunded back in 2013 and hit an impressive goal of over $2 million. Since then it raised over $275 million in private crowdfunding alone, with further cash from private investors. Having just secured another $17.5 million, someone needs to tell Star Citizen to stop. Star Citizen is a game lots of people have been waiting for since 2013. In the past 7 years, we’ve not got all that much from the game. Despite this, Cloud Imperium, the team behind the game, has…

Coinbase’s Retail Payment Portal Passed $200 Million in Transactions

Coinbase Commerce, a platform that supports cryptocurrency payments for internet retailers, just passed $200 million in total transactions processed over its two-year history. According to sources available to Cointelegraph, the wing of the largest crypto exchange in the U.S. reported on March 26 that the platform’s success was due in part to the 8,000 retailers currently using Coinbase for payment services. Bitcoin preferred for retail payments While the coronavirus pandemic is wreaking havoc with traditional markets, the news from Coinbase Commerce would imply consumers are still comfortable using Bitcoin (BTC)…

Block.one Invest $150 Million Into Voice, But Privacy Concerns Linger

Block.one — the company behind EOSIO (EOS), has injected $150 million into its controversial blockchain-based social media network, Voice. Announced on March 26, the investment comprises $50 million in intellectual property assets and $100 million. The injection is intended to give Voice the resources needed to operate independently from Block.One. Voice is in closed beta Voice is currently in closed beta testing and is exclusively available to U.S. users. The platform is built on top of the EOSIO protocol. Users must verify their identity to use the platform, after which…

Blockchain Analytics Firm Coin Metrics Raises $6 Million

Cryptocurrency analytics firm Coin Metrics has closed a Series A funding round worth $6 million. In a blog post on March 26, Coin Metrics said the round was led by Highland Capital Partners and the $6 million investment would be used to grow the firm’s team, expand their product offerings and “provide enhanced coverage of digital assets.” Other firms including Castle Island Ventures, Communitas Capital, Coinbase Ventures and Digital Currency Group also participated in the funding round. Coin Metrics was created in 2017 by Nic Carter and Aleksei Nokhrin as…

U.S. Futures Crushed as California Records Million Unemployment Claims

The U.S. stock market is set for a 1.8% drop at market opening as investors fear for high jobless claims. California alone has seen more than 1 million unemployed individuals since early March. The relief bill would provide $600 per week to the unemployed for four months. The U.S. stock market is set to decline by around 1.8% as investors anticipate the unemployment rate of the country to spike following the lockdown of several key states. The number of unemployed individuals in California surged to 1 million as a result,…