Connect with us

Cryptocurrency

Bloomberg Launches A Crypto Index ?

Bloomberg, the financial news agency and one the world’s largest providers of financial data for use by professional investors, recently launched a cryptocurrency index.

In partnership with Galaxy Digital Capital Management LP, a leading digital asset management firm founded by Michael Novogratz, New York-based Bloomberg launched the Bloomberg Galaxy Crypto Index (BGCI).

The new index is cap-weighted, meaning it is heavily allocated to the largest digital currencies. Cap-weighted indexes assign the largest weights to the securities with the largest market values and smaller weights to those with smaller market caps.

BGCI “measures the performance of ten USD-traded cryptocurrencies, including Bitcoin, Ethereum, Monero, Ripple, and Zcash,” according to a statement. “The index constituents are diversified across different categories of digital assets, including stores of value, mediums of exchange, smart contract protocols, and privacy assets.”

Burgeoning Index Business

An array of crypto-related benchmarks have popped up in recent weeks. Just a couple of weeks ago, Fundstrat Global Advisors LLC, the investment management firm co-founded by noted bitcoin bull Thomas Lee, said it is launching five new cryptocurrency indexes. Many existing cryptocurrency indexes are heavy on the likes of Bitcoin, Bitcoin cash, Litecoin, Monero and Zcash.

BGCI allocates 30% of its weight to Bitcoin and 30% to Ethereum. Ripple and Bitcoin cash are the other digital currencies receiving double-digit weights in the new benchmark.

“The creation of the index marks an important step in the evolution of the digital assets space, facilitating diversified exposure as well as independent benchmarking for investors,” according to the statement. “The BGCI utilizes a rules-based methodology and data from sources that have passed both Bloomberg and Galaxy Digital Capital Management’s due diligence processes.”

Overall, 10 digital currencies are featured in the new index.

Advertisement
9 Comments

9 Comments

  1. https://gothammag.com/buy-tiktok-followers

    January 8, 2023 at 3:19 am

    First of all I want to say excellent blog! I had a quick question in which I’d like
    to ask if you do not mind. I was curious to find out how you center yourself and clear your thoughts prior to writing.
    I have had difficulty clearing my thoughts in getting my thoughts out there.
    I truly do enjoy writing however it just seems like the first 10 to 15 minutes are usually lost just trying to figure out how
    to begin. Any recommendations or tips? Many thanks!

  2. RickeyMut

    January 29, 2023 at 4:59 am

    Indeed you don’t need to look object of online pharmacies to buy cbd products like cbd capsules or lubricant nowadays. I characterize as it’s beautiful easy to bump into uncover a decent company that will-power provide you with high-quality products like 3000 mg cbd gummies
    . You don’t even fundamental a prescription in the direction of that so I don’t espy the location in buying cbd only in pharmacies since I about it’s more intelligent to rely on the companies that stir specifically with cbd.

  3. RobertInvax

    February 6, 2023 at 6:35 am

    I can encourage you Noritz Contractors in Portland OR
    These are the guys who merit your regard and they commitment undoubtedly be able to counteract any difficult that arose with your plumbing. These are professionals in their land and I am joyful that I turned to them. Consequently, I admonish you to mode to them.

  4. Davidwrova

    February 7, 2023 at 8:31 am

    Suffer with you tried the renewed praise streak product? I’m dependable you can devise the aright sense with our CBD pen. safest vape
    Made with simple cannabis lubricant extracted from organically grown hemp, our CBD grease vaporizer apparatus is appropriate conducive to anyone who is disquieted or needs help to impassive down and focus. If fleetingly this mechanism does not stop working, then will keep from you, the actions that you be in want of to do are described in detail.

  5. Davidwrova

    February 8, 2023 at 5:37 am

    Own you tried the untrained puff streak product? I’m undeviating you can devise the aright attitude with our CBD pen. cbd dispensary
    Мейд with simple cannabis grease extracted from organically grown hemp, our CBD grease vaporizer accoutrements is befitting payment anyone who is agog or needs help to balmy down and focus. If in a trice this thingumajig does not pack in working, then will-power keep from you, the actions that you have occasion for to do are described in detail.

  6. Davidwrova

    February 9, 2023 at 8:01 am

    Have you tried the creative puff streak product? I’m dependable you can devise the veracious mood with our CBD pen. how to fix a disposable vape that won’t hit
    Мейд with simple cannabis lubricator extracted from organically grown hemp, our CBD grease vaporizer trappings is appropriate conducive to anyone who is distressed or needs help to calm down and focus. If swiftly this thingumajig does not slow working, then require advise you, the actions that you be in want of to do are described in detail.

  7. Georgepseus

    February 10, 2023 at 8:01 am

    Well I almost always extract CBD oil whenever I be struck by headaches and after a scattering minutes I think way better. Perhaps you should try something like that as well? Quest of example you can start with Directly cbd roll on
    they’re absolutely convenient to board and I invent it’s perfected during beginners because you reasonable have occasion for to stomach unified without counting the drops.

  8. CharlesWrilS

    February 14, 2023 at 8:42 am

    Each of us experiences stress after work or during manoeuvre at some point. This is normal because primary of all, you don’t always like what you do initially. No matter what, I stand up for that you strain aaaa weed
    to take advantage of the process of working. Seeking me personally, this method makes it easier to collect on any tasks.

  9. cbd seo

    March 17, 2023 at 1:22 pm

    So, I have cbd research and I experience originate SEO for my website! I build the tucker CBD SEO Force ! They ranking in the TOP in Google USA

    marijuana seo

Leave a Reply

Your email address will not be published. Required fields are marked *

Bitcoin Exchanges

Hackers Have Continued To Target Cryptocurrency Exchanges, And Little Can Be Done About It.

This month, the crypto trading platform Bitmart announced that hackers had stolen nearly $200 million after breaking into a company account.

It’s not just about investors getting rich from cryptocurrencies.

Hackers have stolen billions of dollars in virtual assets from cryptocurrency exchanges during the last year by attacking some of the marketplaces that have developed throughout the bitcoin boom.

There have been at least 20 successful robberies of crypto exchanges or projects this year, totaling more than $10 million in digital currencies. In at least six cases, hackers stole more than $100 million, according to data compiled by NBC News. Bank robberies last year resulted in offenders pulling off an average of less than $5,000 per job, according to FBI statistics.

Despite the fact that these robberies have a large price tag, they do not usually have the same degree of drama or attention as traditional bank robberies. But cryptocurrency experts believe they provide a cautionary tale for would-be cryptocurrency investors: exchanges are now attractive targets for hackers.

“If you hack a Fortune 500 company today, you might steal some usernames and passwords,” said Esteban Castaño, the CEO and co-founder of TRM Labs, a company that builds tools for companies to track digital assets. “If you hack a cryptocurrency exchange, you may have millions of dollars in cryptocurrency.”

Modern-Day bank robbers

Cryptocurrencies, which were once an obscure technology requiring a high degree of technical knowledge to purchase, have evolved into a more accessible investment and speculation tool, prompting over 300 businesses to start up in recent years to provide individuals with an easy method to invest in and trade everything from bitcoin to less prominent “altcoins” like dogecoin and shibu.

Exchanges that trade cryptocurrencies work similarly to traditional money exchanges, establishing rates for various currencies and collecting a fee to enable trades. However, while several countries have tough rules in place, it is rather simple for technology entrepreneurs to establish an exchange almost anywhere throughout the globe and run it as they choose.

Cryptocurrencies, as the name implies, are decentralized, secure currencies. However, because cryptocurrency exchanges generally start with a small staff and few if any full-time cybersecurity specialists, they are especially vulnerable to cybercriminals. Their developers may work at breakneck speeds to get the code to run correctly, inadvertently creating vulnerabilities that allow hackers access.

Cryptocurrency exchanges keep many of their cryptocurrencies in so-called cold wallets, which are stored securely offline. Everything else is kept in “hot wallets,” which are liquid and can be sent to clients. That means if a hacker compromises a staff member’s account — a frequent internet security breach – they may pull off a large theft, according to Dave Jevans, the founder of CipherTrace, a company that tracks theft and fraud in cryptocurrencies.

“If you steal the private keys to a hot wallet, it’s not like stealing a database of people’s names and Social Security Numbers,” Jevans said. “You’ve just basically stolen all their money.”

If an exchange has adequate funds and plans ahead to create an emergency fund, it can reimburse customers if its system is assaulted, according to Jevans. If not, they are generally forced out of business.

“Not every exchange is so wealthy or has so much foresight. It just goes, pop, ‘We’re out of business. Sorry, you’re all screwed,’” he said.

Recent Cryptocurrency Exchange Hacks

In early December, when the cryptocurrency trading platform Bitmart announced that hackers had stolen almost $200 million from a firm account, one of the most significant robberies that has occurred. The firm shut down client transactions for three days before allowing them to resume trading their money.

The problem is made worse by the fact that many cryptocurrency projects, in order to avoid government controls, operate from nations where law enforcement agencies have little power to go after transnational hackers. Or if they are hacked, they are less likely to ask for government assistance on principle because of their beliefs, according to Beth Bisbee, CEO of Chainalysis a company that tracks cryptocurrency transactions for both private companies and government agencies.

“Some people want to be anti-bank and anti-oversight,” Bisbee said. “They’re not necessarily wanting to work with law enforcement, even though they’d be considered a victim and it’d be beneficial for them to do so.”

Keeping A Low Profile

Exchange hacks, unlike bank robberies of old, don’t have the same characteristics that made them front-page news in the past. Despite their significant dollar amounts, public attention to these breaches may be limited. The majority of exchange hackers are not caught, leaving customers with little closure. There is rarely any physical evidence or real-world aftermath like traumatized bank tellers or perp walks.

Some hacks, however, have pleasant endings. A hacker stole $600 million from the cryptocurrency platform Poly Network in a strange, public occurrence. Instead of blaming the thief, Poly Network instead appealed to his better nature by calling him “Mr. White Hat,” which is a cybersecurity term for a researcher working to make things more secure. Poly Network thanked him for exposing a flaw in its code and asked for the money back. The hacker eventually relented and returned it all.

When big law enforcement organizations tackle a major cryptocurrency breach, they typically attempt to track down every lead, which is a time-consuming procedure that moves much slower than the offenders they’re pursuing.

Europol has been of an increase in data breaches, including those that involve hackers stealing digital assets. However, forming a strong case is a time-consuming and laborious process that doesn’t keep up with the rate of attacks.

“We have a slew of investigations in progress right now,” Georges added. “They take a long time to complete because we also want to dismantle the entire criminal network,” she continued. “These instances frequently crossover with one another.

“They might go on indefinitely,” she added. “These inquiries generally take a long time.”

Continue Reading

Bitcoin

Bitcoin (BTC) Crosses 55k And Is Heading Towards 60k Fast!

Less than two months into 2021, the price of bitcoin has risen 95.4%.

Earlier this week BTC smashed through 50k and is headed towards 60k just as fast. The price is currently trading at 57k as of press time up 60% this month alone. Along with BTC’s meteoric rise quite a few altcoins are going along for the ride.
Some are saying the astonishing rise of BTC’s price to the tremendous demand from buyers looking to hedge against inflation as governments keep spending and central banks keep printing money trying to keep their economies going through the pandemic.
Looking to trade cryptocurrencies? You can trade BNB on Binance by clicking here

Based in the United States and want to trade via Binance.US? Click here to sign up now!

Continue Reading

Binance

Binance Coin (BNB) Is Heading Towards $300 With A 60% Increase Today!

BNB is currently skyrocketing towards $300 after Binance CEO appeared on Bloomberg to discuss the current rise of BTC and other cryptocurrencies. During the interview he was asked about Binance Coin.

You can view the full interview by clicking here

Looking to buy Binance Coin (BNB)? You can trade BNB on Binance by clicking here

Based in the United States and want to buy BNB via Binance.US? Click here to sign up now!

Continue Reading

TRADE CRYPTO

BUY BTC/LTC/ETH

FOLLOW US!

Trending