Global software company HashCash Consultants has shared their plans to release crypto asset, “Corona Fund Index Cryptocurrency” (CFIX), which promises traders to “make profits even during corona-crisis induced bear market.” CFIX will be paired against Tether (USDT) and is slated for launch on April 2.
The press release on March 23, describes upcoming cryptocurrency as being inversely correlated to the S&P 500 through “the backing of an inverse-exchange-traded fund (ETF).”
90% of CFIX earnings will be donated to ‘Corona Relief Fund’
The firm claims 90% of trade fees derived from CFIX will be diverted to its Corona Relief Fund — which purports to donate to “various non-profits and organizations that are actively combating the global pandemic crisis.”
According to Hashcash’s website states, the general mission of the crypto is “to prevent the depletion of resources required for the development of advanced treatments, vaccines, and drugs.”