As US Jobless Claims Skyrocket, Kraken Goes on Hiring Spree; Cash Usage Halves in UK

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Jobless claims skyrocket in US. Kraken continues hiring spree despite coronavirus outbreak. UK cash usage halves during quarantine. Chicago Mercantile Exchange (CME) could launch crypto mining business. Binance presents new debit card, and invests $150 million in Voice.

Jobless Claims Skyrocket in US

Jobless claims

The number of jobless claims in the US skyrocketed, showing the deep impact coronavirus pandemic is having on the economy. According to the numbers, 3.28 million citizens filed for unemployment insurance last week, a number 15x higher than the previous rate. Pennsylvania was the state with most jobless claims filed, while New York claims also grew. “This morning’s data leaves no doubt that the economy is currently in a recession,” declared Matthew Luzzetti, chief US economist at Deutsche Bank AG.

Kraken Keeps Hiring Despite Coronavirus Pandemic

Jobless claims

Kraken, a US-based cryptocurrency exchange, continued hiring people to operate its platform despite the coronavirus outbreak. Kraken has a distributed work policy and is now looking to include more than 60 employees to revamp their platform to support the surge in trading. This seems to be the case with blockchain industries, as showed a growing demand of crypto-related jobs, increasing 3% from December 2019 to February 2020.

UK Cash Usage Halves During Quarantine

Jobless claims

The usage of cash has been slashed by 50% in the UK, according to numbers offered by Link, the operator of the biggest ATM network in the country, likely as the result of the closure of stores in the wake of quarantine restrictions and the possibility of bills carrying coronavirus. Some stores operating refused to accept cash as a payment form, a phenomenon that has officers concerned. Some parts of the population don’t have access to banking resources and this could affect their ability to satisfy basic necessities.

CME Could Start Mining Cryptocurrencies in the Future

The Chicago Mercantile Exchange, a legacy derivatives market, could invest in crypto mining in the near future. A letter from Dante Federighi, a nominee for the CME board of directors, proposed a shift of “investments to companies focused on creating value for all their stakeholders.” Federighi states the best way of accomplishing this is to create green power plants (solar/wind/hydro) and divert the excess of energy to mine cryptocurrencies. “We’d immediately converted any newly minted crypto into fiat,” he concluded.

Binance Presents New Cryptocurrency Card

Binance, the biggest cryptocurrency exchange in the world, introduced its first Binance debit card in partnership with Visa, the credit giant. The Visa Binance card will function as a normal payments card, letting users connect their Binance accounts to spend cryptocurrencies on the go. It will be first launched in Asia, in countries like Malaysia and Vietnam, and will expand later. It will be free of monthly and yearly fees, and users will have to pay $15 upfront to receive the card.

Voice to Receive Injection of $150 Million by

Voice, the EOS based social media app, received a new investment of $150 million coming from, the company behind the creation of EOS. This adds to the millions spent earlier on its costly domain and development of the platform, according to The Block. The $150 million investment consists of $100 million in cash and $50 million in intellectual property. This money will allow Voice to “deploy the $150 million in capital to expand its operations and build out the company’s workforce.”

Jobless claimsCONTINUE THE SPICE and check out our piping hot VIDEOS. Our podcast, The CoinSpice Podcast, has amazing guests. Follow CoinSpice on Twitter. Join our Telegram feed to make sure you never miss a post. Drop some BCH at the merch shop — we’ve got some spicy shirts for men and women. Don’t forget to help spread the word about CoinSpice on social media.

DYOR: CoinSpice is your home for just spicy crypto things. We’re not affiliated with any cryptocurrency project or token. Each published piece is intended for information purposes only, not investment advice and not in the hope of impacting speculative markets. There are plenty of trading sites and coin-specific advocacy journals out there, we’re neither. CoinSpice strives for rigorous accuracy in our reporting. Information presented here is contingent usually on a host of factors, and the ecosystem moves fast — prices change, projects change, and at warp speed. Do your own research.