In Brief

  • Rolling coverage on how the industry is responding to the financial crisis.
  • How the coronavirus is affecting the wider economy.

Developing stories:

March 12

  • A sudden market shock: The price of Bitcoin crashed by $1,000 in under an hour. All coins—barring stablecoins—are in the red, with many seeing losses between 20-30%.

March 11

March 10

 

March 9

March 8

China's pending bitcoin "mining catastrophe:" The upcoming bitcoin halving is creating a perfect storm for miners in China, who need to get more powerful rigs. But the virus has compounded supply shortages and money woes.

Corona Babies lets you collect digital bats infected with Coronavirus: But are they “Cute but deadly,” as advertised, or insensitive and opportunistic?

Bitcoin, Ethereum and XRP all took a nosedive overnight: A weekend lull? A whale took a dump? Coronavirus? Speculators wonder as markets continue to turn red.

Other stories of note and reactions from around the Web

Filthy lucre

All St. Patrick’s Day parades cancelled in Ireland

 

Kim Dotcom rings the death knell for the economy

Kim Dotcom, the former founder and CEO of the defunct file hosting service Megaupload has taken to Twitter to proclaim the financial crisis is on par with the Great Depression. The solution? Buy Bitcoin and Gold.

Bloomberg summarizes the market meltdown

Earlier in the day Bloomberg put together a bruising summary of how the market has been responding to the fallout: Oil crashed by a third, European futures down nearly 10%, Japanese stocks down 6% and sovereign bond yields plumb record lows.