US Govt Shutdown Hits Southwest Airlines, Q1 Revenues Fall $60 Million

Shares of Southwest Airlines fell sharply on Wednesday after the low-cost carrier disclosed that the government shutdown which lasted for 35 days had a larger impact than previously thought. In a U.S. Securities and Exchange Commission filing, Southwest Airlines indicated that the estimated revenue impact of the shutdown had increased by up to six times. …

China’s Uber-Killer Didi Loses $1.6 B, Begins Overhaul With 2,000 Layoffs

Didi Chuxing, the ride-hailing and transport service based in China, has outlined steps to commence a firm-wide layoff that is expected to affect 15% of its total workforce after suffering a reported $1.6 billion loss in 2018. Cheng Wei, Didi’s Chief Executive Officer, told management that the layoffs are necessary if the company is to …

Mike Novogratz-Backed BitGo Offers $100 Million in Crypto Insurance

BitGo, a crypto custodian backed by Goldman Sachs, is offering up to $100 million in insurance coverage for cold-wallet assets through Lloyd’s. There is no additional cost to BitGo clients. In a press release, the company said the $100 million of insurance coverage protects custodial assets held by BitGo against: Third-party hacks. Insider theft by employees …

Bernie Sanders is Running for President. He’s the Only One Who Can Beat Trump

Bernie Sanders has officially launched his presidential campaign for 2020. The 77-year-old is now the Democratic front-runner and the only candidate who can realistically beat Donald Trump. Not only is he the most popular Senator in the country, but recent polls also show he would pip Donald Trump in a hypothetical election.  Beating Donald Trump …

US Sanctions Squeezes Russia’s 3rd Biggest Bank into Freezing Venezuela Oil Firm’s Accounts

Russia’s third-biggest bank by assets Gazprombank has elected to freeze the bank accounts belonging to Venezuelan state oil firm Petróleos de Venezuela, S.A. (PDVSA), Reuters reports. Citing sources, the report indicated that the state-owned lender did so to lower its risks of coming under U.S. sanctions. Alongside China, Iran, Turkey and other countries, Russia is …

A Huge EU Bank Just Ruthlessly Froze People’s Accounts. It Would Never Happen With Bitcoin

Spain’s second-largest bank, BBVA, has aggressively frozen up to 5,000 accounts without warning. Many of the accounts belonged to Chinese clients, leading to cries of racism. The bank, however, claims it was acting on Spanish anti-money laundering rules. Spain’s second-largest bank has apologized after hundreds of Chinese customers accused the group of racism for freezing …

Why This Andreas Antonopoulos Talk Should Go Down as 2019’s ‘State of the Crypto Industry’ Address

In this concise overview of the cryptocurrency industry’s strengths, weaknesses, opportunities, and threats, renowned crypto expert Andreas Antonopoulos explains what’s going on the world that makes Bitcoin such a relevant and powerful force. The State of the Crypto Industry in 2019 The most important feature of Bitcoin is its neutrality, and the rest of the …

$150 Million Scandal of Canada’s Biggest Crypto Exchange Sees New Twist in Dead CEO’s 2014 Interview

The recent scandal of QuadrigaCX in which Canada’s biggest cryptocurrency exchange lost $150 million worth of crypto shocked the financial space. It deteriorated the public image of the cryptocurrency sector overnight as analysts condemned the loss of hundreds of millions of dollars following the alleged death of CEO Gerald Cotten who had sole control over …

This Chinese Crypto Mining Guru Predicts the Bitcoin Price Will Surge 20,000%

A Chinese crypto mining pool founder predicted that the next bull run would unleash the market’s full potential, enabling the Bitcoin price to ascend to unfathomable heights before the euphoria cools down. Bitcoin Market Cap To $12 Trillion? This crypto market bull isn’t ready to give up on the flagship cryptocurrency yet. | Source: Shutterstock …