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Cryptocurrency News

Trump announces FDA approval of Hydroxychloroquine, markets immediately react positively

President Trump announced Thursday that he has instructed Federal Drug Administration commissioner Stephen Hahn to waive “outdated rules and bureaucracies” on testing of various “anti-viral therapies” to combat coronavirus.

Trump noted that the vaccine pursued by the National Institutes of Health and other medical bodies, “by its nature” requires lengthy testing periods.

“The therapies are something we can move on much faster potentially,” he continued, “treatments that will be able to reduce the severity or duration of the symptoms.”

Trump went on further to say “It’s shown very encouraging early results, and we’re going to be able to make that drug available almost immediately,” the president stated. “And that’s where the F.D.A. has been so great.”

Success rate of Hydroxychloroquine

Medical expert, James Todaro provided some insight into the clinical trials and research that was conducted and provided some insights on Twitter. The study claims that the use of Hydroxychloroquine had a 100% success rate, James tweeted “100% of patients with COVID-19 were virologically cured after 6 DAYS of treatment.”

President Trump has now stated the drug will be available in a matter of days for those who need it.

Positive market reaction

The market reacted immediately to the positive news with cryptocurrencies gaining double digits percentages. At the time of publishing Bitcoin is up 15% on the day, Ethereum +14.6% and XRP +10.3%.

The US equities markets were also up with the DOW +1% and SP500 +1.2%

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