Unemployment in the US reaches record levels

Bitcoin stays above $ 6,000 over the weekend – In the last three days, Bitcoin has dropped from $ 6800 to $ 5880. Apparently, the fact that it failed to exceed the $ 6800 resistance threshold caused a correction this weekend.

The technical analyzes show that the trend is currently neutral.

Last week, gold supporter Peter Schiff commented ironically on Twitter:

“Congratulations to Bitcoin supporters. It looks like Bitcoin might eventually achieve its uncorrelated asset status. All asset classes have grown today except Bitcoin! “

Schiff merely emphasized the value of Bitcoin in this message. The growth of global markets last week was a direct result of the billions of dollars printed by the Federal Reserve. Bitcoin recovered 80% after the March 12 loss without the need for “stimulus packages,” “quantitative easing,” or “salvation.”

Binance announces delistaria

Just two months after they were added, the Binance exchange decided to remove all leveraged tokens issued by FTX. Changpeng Zhao said the reason is that users do not understand how they work.

According to the official announcement, Binance will remove all these tokens at 10 a.m. on March 31. Owners are asked to sell or withdraw their assets two hours earlier. Otherwise, Binance will credit the accounts

“With the equivalent value in BUSD of the tokens held at the time of disposal, within 14 days”.

Leveraged tokens function as a kind of trading bots for margin trading, automatically reinvesting profits. Theoretically, these tokens reduce the risks associated with margin trading, being more efficient than manual trading. However, they are not designed for long-term retention and devalue over time as markets fluctuate.

These tokens can be issued and redeemed through the FTX derivative exchange, but being based on Ethereum, they can be traded like any other cryptocurrency. Binance has been listing these tokens since January 2020, after investing in the FTX Exchange in December 2019.

The Ethereum Pepo app integrates the Zoom platform for live streaming

Ethereum-based social media app Pepo has integrated with video conferencing platform, Zoom, to facilitate live streaming. Pepo Live Events is only available in limited beta on the platform’s website.

For now, only Pepo community administrators are able to stream live, but anyone can attend live events. All events transmitted on the platform are recorded and are limited to a period of three hours.

The Pepo application was launched last October and uses the OST platform. This allows users to reward each other in the native Pepo token, based on the OST token 1: 1.

Unemployment in the US reaches record levels

With 3.3 million people applying for unemployment last week, unemployment in the US reaches record levels. The COVID-19 pandemic has closed much of US business and demonstrates some of the impact of the coming economic crisis.

Experts warned of a “catastrophic unemployment crisis” – unemployment claims filed by individuals increased from 281,000 to 3.28 million.

US Treasury Secretary Steve Mnuchin has predicted that US unemployment could reach 20%.

Federal Reserve Bank of St. Louis President James Bullard said he expects unemployment to reach 30% in the second quarter.

The Trump administration will implement a $ 2 billion economic incentive package. It includes both direct payments to citizens and aid to industries that have been affected by the pandemic. Unfortunately, they will not have a significant effect on the unemployment rate.

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