President Donald Trump Believes That the Recession of the Stock Market Is Just a “Glitch”

The current President of the United States has surprised the world with his eccentric and sometimes illogical statements on multiple occasions, and this time was no exception. Donald Trump claimed that the downward trend happening at the stock market right now is only a glitch and it will soon be fixed.

We had a little glitch in the stock market last month. We need a little help from the Fed … but we’re going to be good. The trade deals are kicking in,” the President said.

This was tweeted about by the editor of Reuters, who works directly in the White House.

Trump is sure that the situation on the stock market will change after the US concludes more trade deals, especially with China. However, it seems highly unlikely, taking into consideration the wave of mutual sanctions between the countries.

He also demanded that the Federal Reserve should take care of the problem.

Meanwhile, most financial experts name quite different reasons for the market recession, none of them including the infamous “glitch”.

The Twitter community reacted to Trump quite harshly. They started calling all of his actions and words a glitch.

Subscribe to The Coin Shark news in Facebook:

Visa Plans to Open a Blockchain Department

Visa’s immediate plans are to open a new department which will be directly connected with cryptocurrencies and blockchain technology. It became known immediately after the company published a vacancy of a new manager.

Main requirements for an applicant:

  • in-depth knowledge about private blockchain;
  • familiarity with advanced cryptography is preferred;
  • an understanding of existing retail payment solutions;
  • 4 to 7 years of relevant experience.

Manager of a new department will have to carefully follow the latest solutions and technologies in this area. He will also have to implement them promptly in the company’s own products.

Recall, yesterday we wrote that the US government can completely ban Visa and Mastercard payment systems in Venezuela. It is connected with the extension of sanctions against the current President Maduro. This can significantly affect the already weak economy of the country.

USA Can Extend Sanctions Against Maduro Government and Ban VISA and Mastercard in Venezuela

Subscribe to The Coin Shark news in Facebook:

Donald Trump Might Have Increased His Wealth Due to Some Shady Business with Deutsche Bank

Donald Trump has undoubtedly won the title of the most eccentric president of the United States. Given the amount of accusations, convictions and general displeasure, it is a wonder how he has not been impeached yet. However, this new endeavour might put the last bits of his reputation at stake.

The New York Attorney General started an investigation regarding the financial relationship between the Trump Organization and Deutsche Bank. Reportedly, the major German bank has provided over 2 billion dollars in loans to the American president over the years.

The misconduct of Trump

The story begins in 2004, when Trump first encountered Deutsche Bank. The businessmen went to the real estate department and filed for a loan for his 92-story Trump International Hotel and a Trump Tower in Chicago.

At first sight everything seems fine, but it surely isn’t. When asked about the financial situation, Trump claimed to own a much larger sum of money than he actually had back then. Simply speaking, he lied to the bank about his net worth.

Mr. Trump told Deutsche Bank his net worth was about $3 billion, but when bank employees reviewed his finances, they concluded he was worth about $788 million, according to documents produced during a lawsuit Mr. Trump brought against the former New York Times journalist Timothy O’Brien,” is mentioned in the investigation files.

The weird thing is that although the bank officials surely suspected something, they didn’t take time to check and verify the information provided by Trump. Instead of that, they kept loaning him massive amounts of money.

In 2010 Trump received a 100-million-dollar loan from the Deutsche Bank to built a resort in Florida. Experts claim that he deliberately increased his net worth by almost 70% in the application in order to get the money.

In 2014 the current US president tried to purchase the popular football team Buffalo Bills. When the NFL demanded the proof that he would have enough finances to conduct the deal, Trump claimed that he owned almost 9 billion dollars, and this all happened through Deutsche Bank once again.

Right now, the authorities are finally starting to see the whole picture and its scale. The investigation has already started. Faking net worth to get such huge loans might result in big problems for both Trump and Deutsche Bank.

Subscribe to The Coin Shark news in Facebook:

USA Can Extend Sanctions Against Maduro Government and Ban VISA and Mastercard in Venezuela

At the moment the USA government discusses the possibility of introducing a new package of sanctions, which in fact will prohibit the operation of such systems like Visa and Mastercard in Venezuela.

According to the administration of Donald Trump, such a step would cause irreparable damage to the Maduro government regime, which the United States recognized as illegitimate. These sanctions will mean a total ban for any American company to cooperate with any Venezuelan company that has at least some relation to the current Maduro regime.

The main purpose of these sanctions is to put pressure on the current leadership of Venezuela. However, such actions may affect the lives of ordinary citizens of the country. How to avoid this, officials do not know yet, although they claim that there are some tricks which allow making a number of exceptions.

On Saturday, March 16, Juan Guaido (head of the Venezuelan opposition) said that they managed to take under control the Citgo – a subsidiary of the state-owned oil giant PDVSA.

Recall, recently we wrote that the Russian bank “Eurofinance Mosnarbank”, which cooperated with the already mentioned company PDVSA, came under sanctions.

The USA Imposed Targeted Sanctions on a Russian Bank Which Was Involved in the Creation of El Petro

If the VISA and Mastercard systems stop working in the country, then people will have no other choice but to switch completely to using Bitcoin or their own cryptocurrency El Petro. Given that Venezuelans are used to living in hyperinflationary conditions, cryptocurrency will seem like a fairly stable asset for them.

Subscribe to The Coin Shark news in Facebook:

Japan’s Biggest Bank Is Not Going To Create Its Own Cryptocurrency: Fake News Is Not Confirmed

Japan is one of most developed countries in the whole world, when it comes to economic sector, all the spheres are regulated making investments easy and save. News outlets shocked everyone with the news that Japan’s Mizuho bank creates its own cryptocurrency, as it turned out later, the coin is real but the crypto is not.

Cash VS. Online Payments

Even though Japan seems to be a modern country with innovative technological potential, most of its citizens prefer using cash to cards or online payments. In terms of payment systems adoption, the country is definitely left behind, especially if we compare it to China where WePay and AliPay thrive. There are some reasons for this phenomenon. First of all, low interest rates make Japanese hoard their cash. Second of all, the country is very safe, so taking cash with oneself brings no trouble at all. Thirdly, the Japanese population is old, the average age is 47, thus digital payments slowly adjust among citizens.

Summer Olympics in Tokyo

In 2020, the worldwide competition – the Olympic Games – are held in Tokyo. The government rose awareness of lack of electronic payment devices around the country. Thus, it is pushing banks and merchants to find solutions regarding to this problem. Moreover, the government is planning to increase the percentage of people using payment services after the Olympics.

J-Coin To Replace Cash

As a part of the policy of implementing electronic payments, the largest bank in Japan, Mizuho, as well as other 60 financial institution are releasing digital wallet called J-Coin. In the operating method, it resembles AliPay and WePay – scan QR-code and pay. According to the representatives of Mizuho bank, J-Coin has nothing to do with crypto or blockchain in any form.

Subscribe to The Coin Shark news in Facebook:

Forbes Published The Annual List of The Richest People In The World: Amazon Is On The Top

American business magazine Forbes has updated its annual list of the wealthiest people in the whole world, stating that, in overall, the amount of billionaires has dropped as no one is “immune to economic forces and weak stock markets.” Nevertheless, let us look how much money the ultra-rich and just rich are in possess right now.

The list is topped by the CEO and founder of Amazon – Jeff Bezos, the estimated amount of money accounts for $131 billion. His fortune has swelled by $19 billion in just one year, making him the richest person in the universe for the second time in a row.

The second place was occupied by the principal founder of Microsoft – Bill Gates, his fortune is estimated for $96,5 billion. Gates has become the wealthiest person for 12 times, his riches has grew up by approximately $6 billion in compare to 2018.

The top three ultra-rich people is closed by Warren Buffet – the world-known investment guru. The most successful investor of all the time possesses $82,5 billion. Interestingly, he claimed that he would donate 99% of his fortune.

The top ten of the world’s billionaires list:

Source: Forbes

The list also includes Mark Zuckerberg ($62,3), who has been battling with privacy problems on Facebook; Jack Ma ($37,3) took #21 position, in September 2018, he announced he would resign as Alibaba’s executive chairman; Elon Musk placed #40 with the fortune of $22,3 billion, even though he had some problems with the SEC earlier this year, his company SpaceX was valued at $20 billion.

The youngest self-made billionaire became Kylie Jenner, at the age of 21, her net worth is estimated at $1 billion. She owns 100% of her own company – Kylie Cosmetics, with the annual income of $360 million.  

In general, this year’s list is 55 fewer billionaires than it was last year, the most since the economic crisis in 2009. Nonetheless, 195 newcomes made them to the list. The future is unpredictable that is why let us together see what happens next.

Subscribe to The Coin Shark news in Facebook:

All Finance in the Your Smartphone or TOP-5 Fintech Applications in 2019

The past 2018 year was not successful for the cryptocurrency industry, but despite this, fintech continues to grow rapidly. Every year, the number of investments in new projects, including those working with blockchain technology and digital coins, is growing rapidly.

The near future of the financial sector is undoubtedly related to the cryptocurrency industry. According to Business Insider, for the entire 2017, the amount of investment in fintech was less than in the first half of 2018.

The numbers that the PricewaterhouseCoopers study showed are amazing:

  • 77% of companies are going to use blockchain technology in their business in the near future;
  • 82% of companies plan to have partnerships with fintech projects.

As it is known, investment growth provokes the emergence of new products, in our case, we will consider new mobile applications in fintech industry that support digital coins.

1. Abra

This project was created in 2015, in the beginning, with its help it was possible to purchase only Bitcoin for fiat in the United States and the Philippine Islands. Two years later, Abra entered the global market. Last year, the application introduced the possibility of payment using debit cards Visa and MasterCard, as well as SEPA, for the European Union market. Also, the list of supported digital coins significantly expanded.

At the beginning of 2019, Abra application`s users had the opportunity to invest in ETF, as well as shares of public companies. The creators of the application say that the whole 2019 will be preferential for such an investment, that is, no commission will be charged for them.

Abra can be used by people from 155 different countries of the world. A very important advantage of this project is the fact that they do not store their clients’ private keys on their own servers. This means that investors can not worry about hacker attacks and the safety of their own funds.

2. Robinhood

The Robinhood application is developing at a very fast pace in the United States. With it, it is possible to invest in digital coins, ETF, stocks, and even options.

At the very beginning, the Robinhood app supported only trading in traditional financial markets. But literally last year, the situation has changed – operations with cryptocurrency have become available in the application.

The rapid growth of the audience of the application has led to new funding – in the spring of 2018, the project managed to attract $363 million. The total capitalization of the company now amounts to more than 5.6 billion dollars, and the total number of users of the application exceeds 4 million people. Robinhood is developing very fast, the only disadvantage of this project is the fact that at the moment the company is working only in the United States of America.

3. Circle invest

In 2018, the well-known company Circle released its own application Circle Invest.

A unique feature of this application is the ability to buy a whole portfolio of digital coins in one click.

The minimum amount of investment in this project begins with a nominal figure of 1 dollar. Circle Invest is available to residents of the European Union and the United States of America.

4. Bison

As it was already mentioned above, large companies that have been operating in traditional markets for many years are starting to launch their own cryptocurrency-related products. Last year, one of the largest stock exchanges in Germany, Börse Stuttgart Group, released its own mobile application (with support for digital coins) Bison.

There are no commissions for transactions, the main monetization of the project is earnings on the price spread. It is important to know that Bison is only a shell, the trade itself takes place through the Bitstamp exchange. Now only BTC, ETH, LTC, XRP are available in the application, but in the near future, the developers are planning to significantly expand this list.

5. Cash App

Users of the Cash App application have the opportunity to exchange money without commissions, using only email. In December 2017, the developers (as a test) added support for BTC to this application.

As practice has shown, this decision had a positive effect on the popularity of the Cash App. Even after the Bitcoin rate began to decline rapidly in early 2018, the audience of the application was actively growing.

It should be noted that this project does not work with the exchanges, and cooperates only with individual private brokers. This feature allows protecting users from rapid price fluctuations, as well as solve security issues. It’s only disadvantage is the fact that it is available only for residents of the United States.

Subscribe to The Coin Shark news in Facebook: