Elon Musk Looks Foolish as Tesla Cuts Salaries After Dumb Coronavirus Tweet

A month ago, Elon Musk tweeted that the panic over the novel coronavirus is dumb. Now, Tesla is implementing cost-cutting measures. Tesla’s shares have also nosedived since Musk’s infamous tweet. In March, Tesla chief executive Elon Musk downplayed the coronavirus threat and tweeted that the panic over the virus is “dumb.” A month later, the electric vehicle company is scrambling to manage the impact of the pandemic. Your employees probably don’t share your view. | Source: Twitter Tesla is now forced to place many of its 50,000-strong labor force on…

OnChain Capital’s Coronavirus Relief Fund ‘Overwhelmed’ by Applicants

Runway Fund — an emergency relief fund assembled by the co-founders of OnChain Capital to help startups impacted by the COVID-19 pandemic — has been “overwhelmed” by the number of applications. Cointelegraph spoke to Ran Neuner, host of CNBC Africa’s Crypto Trader and co-founder of both OnChain Capital and Runway Fund, to find out more about the project’s plans to assist struggling start-ups. The fund is open to applications from startups in all jurisdictions and has received 400 submissions from startups worldwide in only two weeks. Neuner states that the…

WHO Failed the World With the Coronavirus Pandemic

Donald Trump criticized the World Health Organization (WHO) for a variety of failures on coronavirus. Trump may have been deflecting, but the WHO repeatedly failed in its handling of the Covid-19 outbreak. Coupled with ‘egregious failures’ on the 2014 Ebola outbreak, the WHO’s role in international public health needs to be reassessed post-coronavirus. Donald Trump has slammed the World Health Organization’s failures on the coronavirus. In a tweet, the U.S. president scolded the Organization for being overly “China-centric” in its response to the Covid-19 outbreak. He even threatened to reduce…

U.S. Futures Plunge as Eurozone Fails Crucial Coronavirus Stimulus

The eurozone failed to finalize a massive stimulus deal to lift the stock market. It applies further pressure on small businesses as major European economies free fall into recession. U.S. stock market is at risk of a further downtrend despite coronavirus containment progress in Asia. The U.S. stock market futures reversed from an initial 1.3% gain to a sharp loss as the eurozone failed to achieve a deal on a stimulus package after 16 grueling hours of discussion. French finance minister Bruno Le Marie stated: Source: Twitter The Dow Jones…

Coronavirus Stimulus Fueled a Mortgage Debt Time Bomb That Could Explode in July

The number of people requesting a break from their mortgages has skyrocketed. Even in the improbable event that figure doesn’t rise any more, it’s a staggering amount of debt that’s on hold. Those who are using the mortgage forbearance program won’t have the capacity to pay off their missed payments. Coronavirus has created the sharpest drop-off in employment rates the U.S. has ever seen. Those job losses are now translating into a shocking rate of unpaid mortgages that are about to come crashing down. Under the federal government’s coronavirus relief…

What if Coronavirus Never Ended the Bull Market?

Most would agree that stock markets entered a bear market in mid-March, as indices plunged more than 20% from their peak. Ritholtz argues that the bull market that started after the financial crisis has never ended. Even if we are still in a bull market, it might end soon as the economy stares down depression. Some analysts believe the stock market has already bottomed. But what if the bull market never actually ended? After the sudden collapse of the stock markets in mid-March, the general assumption was that not only…

Slowing Coronavirus Death Toll Coincides With Surging S&P 500

The S&P 500 is flashing signs of strength after a drop in the daily death toll in coronavirus hot spot New York. The doubling time of death for many large states is significantly improving. A V-shaped recovery for the S&P 500 seems very unlikely, though. The S&P 500 surged over 7% on Monday as investors found their appetite for risk renewed. News broke out that New York, the country’s largest coronavirus hot spot, saw a significant drop in the daily death toll. After Monday’s furious rally, the bellwether index is…

How Cointelegraph Team Is Coping With the Coronavirus Crisis All Over the World

The coronavirus pandemic has been changing the global economy, our lifestyle, our ways of interacting with each other and our vision of the future. The Cointelegraph team keeps working from home offices, and all the events we planned to participate in have been canceled. But there is still a lot that is happening in the crypto and blockchain field that needs to be covered, so the work keeps us occupied, and that helps us keep our spirits up. The impact of the quarantines and economic restrictions is felt throughout all…

Healthcare Gets a Dose of Open-Source, But Will It Cure Coronavirus?

The crypto and open-source community have been working hard to stamp out the spread of Coronavirus. These healthcare efforts have been manifested in several initiatives from ethical tracking measures, 3D printing schematics, and crypto-based charity campaigns.  It’s not just the virus they’re fighting either. Projects are racing against both time and other profiteers looking to turn society into an Orwellian surveillance state. Surveillance, Accelerated Insofar as the novel Coronavirus has touched nearly every corner of the planet, solving this problem demands cooperation from every affected country. So far, this has…

Skepticism Chases China’s Claim of Zero Coronavirus Deaths

China recorded zero coronavirus deaths Tuesday, showing the extreme measures taken to contain the pandemic are paying off. Still, the accuracy of the figures is bound to be questioned. Concerns have been raised that the world’s most populous country has been underreporting COVID-19 cases and deaths. For the first time since China started publishing daily coronavirus figures in January, it reported zero new coronavirus deaths on Tuesday. The number of confirmed cases fell to 32 from Monday’s figure of 39, per China’s National Health Commission. Meanwhile, the number of COVID-19…