Coronavirus Threatens to Close Wall Street, Bitcoin Remains Resilient

With the coronavirus epidemic now reaching New York, many banks are evacuating their staff. While Wall Street could struggle in the upcoming months as a result, Bitcoin trading platforms are unlikely to be affected.

Wall Street, London Banks Are Moving Staff

Yesterday, the US stock markets temporarily shut down after the oil market shock. However, the coronavirus epidemic poses an even higher risk for Wall Street finance. Some of the world’s largest banks are already thinking about restructuring or reducing their workforces for a while to fight the spread of the virus. Other banks plan to move to other locations to continue their activities.

CNN reported that JPMorgan had split its sales and trading teams between different offices, while Bank of America did the same with its fixed income and equities trading teams.

Elsewhere, Goldman Sachs traders work remotely for a trial period, a source familiar with the matter told CNN.

Besides Wall Street, London is also dealing with the…