Liquidity service provider and digital asset market maker, GSR, announced a partnership with Interhash, the mining services company and strategic partner of mining rig manufacturer, Canaan, in an updated press release, Dec. 20. The partnership aims to provide risk management solutions for Bitcoin miners on Canaan’s network, allowing them to protect against losses and earn yield on inventory.
Risk management solutions for a volatile industry
GSR will offer a customized suite of products consisting of swaps, collars, and more bespoke structured instruments from January 2020. These will provide a hedge against volatile factors such as Bitcoin price, mining difficulty, electricity and equipment costs. GSR Co-Founder, Cristian Gil explained:
“The cryptocurrency industry is more volatile than any other business area, and many participants in the ecosystem are under-hedged or outright un-hedged against adverse price action. Miners are a foundational component of the digital asset space, and have to consider many volatile factors when planning their future revenue streams.”
Hedging to become more important as the industry matures
In traditional markets, the majority of corporate players have hedging programs. With $3 billion set to be mined in 2020 at current prices, the hedging market is small compared to physical commodities markets.
However, as portfolio sizes increase and capital expenditure grows, it makes sense to consider hedging options as resources become available. Global Marketing Director of Interhash, Cora Jiang, added:
“We believe risk management will play an integral role in this industry as it matures. We are proud to partner with GSR who have substantial financial expertise in this area and a proven track record in crypto finance.”
As Cointelegraph reported, mining rig manufacturer, Canaan’s shares have dropped 40% since its November IPO.
If reproduced, please indicate the source: http://www.uucj.net/gsr-and-interhash-to-create-hedging-solutions-for-bitcoin-miners/
Rumors are swirling that Russell Westbrook is available for trade. Westbrook is shooting almost 50% from the field in his last nine games yet he’s still at the center of the controversy. The former MVP’s deep playoff experience would be critical come May. The rumor mill kicked into high gear a day after the Houston Rockets suffered a humiliating defeat against the injury-plagued Golden State Warriors. At the center of the controversy is Russell Westbrook. The explosive point guard shot an abysmal 0-8 from beyond the arc and committed four turnovers in the loss against the Dubs. Brodie’s lackluster performance on Christmas is giving critics ammunition. Dan Feldman of NBC Sports claims that Westbrook is not providing the expected lift. He asserts that the Houston Rockets have struggled when James Harden is on the bench and Russ is leading the charge. That’s just the tip of the iceberg. Some are even saying that GM Daryl Morey has made the eight-time All-Star available for trade. If Morey moves Westbrook, the Rockets can say goodbye to their title hopes this NBA season….Dec 27, 2019
Bitcoin and the crypto market have been firmly caught in the throes of immense volatility over the past several days and weeks, with Bitcoin’s sharp swings leading altcoins like Ethereum to follow suit and incur some notable volatility. Ethereum, which recently experienced a strong upswing, has erased a portion of these recent gains, and is now entering what appears to be a bout of sideways trading. One analyst is noting that ETH was able to tap its key high-time-frame resistance at $150 in the course of its recent rally, with its firm rejection here being a grave sign of what’s to come next. Ethereum Sheds Some of Its Recent Gains as Crypto Market Enters Consolidation Phase At the time of writing, Ethereum is trading down just under 7% at its current price of $132, which marks a notable decline from daily highs of over $150 that were set at the peak of the crypto’s recent upswing. This rally first began on Thursday afternoon and marked a resolution to the extended bout of sideways trading around $110 that the cryptocurrency has…Mar 21, 2020
In the context of data security, modern digital businesses realize the dangers that come with using sensitive information in its raw form. Figuring out a way to collect and use the original data without putting it at risk remains a challenge, and organizations must channel a lot of their resources into IT security that protects their users’ sensitive data. With so many highly-publicized data breaches hitting newspaper headlines in recent years, including a massive Capital One data breach in 2019, it has become more important than ever to protect sensitive consumer data and limit its exposure to data leaks. Table of Contents Sensitive Information and the Growing Threat of Data Breaches Figuring Out How to Protect Sensitive Data Tokenization vs. Encryption: What’s the Difference? Descoping Entirely with Data Aliasing by VGS Thankfully, a number of innovative technologies have made it easier to reduce data security risk – as well as meet the requirements of Payment Card Industry Data Security Standard ( DSS) compliance. From encryption and tokenization to next-generation methods like aliasing, businesses in the digital age have a number…Jan 18, 2020
Cryptocurrencies like Bitcoin (BTC) aren’t really easy to spend in day-to-day life, mainly because retailers prefer to stay away from crypto’s volatility. In order to build a bridge between traditional finance and emergent assets like Bitcoin, a Swiss crypto startup called Eidoo has introduced a new Visa crypto debit card that uses regulated stablecoins for crypto-to-fiat conversion. The so-called Eidoo Card has been approved for operation by payment giant Visa. Announcing the news on May 25, Eidoo told Cointelegraph that its new card will enable 40 million Visa merchants to accept crypto-derived fiat currencies, including the British pound (GBP) and euro (EUR). Eidoo CEO Thomas Bertani said that this latest approval by Visa is part of Eidoo’s partnership with Contis, a principal member of Visa Europe and a holder of a U,K. e-money license. Bertani said Visa has approved the entire flow of Contis-led card issuance as well as crypto-to-fiat conversion involving regulated stablecoins issued by Moneyfold, a U.K.-based financial services firm focused on fiat-pegged stablecoins. This means Contis acts as the issuer of the Eidoo Card, similar to how…May 25, 2020
Recently, cryptocurrency advocates have been discussing the upcoming halvings set to happen on the BTC and BCH blockchains in six months or less. Since crypto prices have been heading southbound, the SHA256 consensus hashrate continues to remain relatively unfazed and data stemming from freshly minted coins shows miners have been stockpiling. Also Read: Iranian Grid Explains Electrical Costs Will Fluctuate for Bitcoin Miners Stockpiling Coins and Slight Miner Capitulation Digital currency markets dropped quite a bit in value last week as most coins lost 15-20%. People are hoping that the reward halving stemming from the BTC chain and BCH chain may propel prices higher as they have in the past. At the time of writing, there is roughly 169 days or a touch more than six months left until the BTC reward halving on May 15, 2020. In the world of cryptocurrencies, six months is still a good length of time for accumulation events to take place, but right now there are few signs of halving preparations. Before the market downturn, crypto enthusiasts predicted a miner capitulation would occur where…Nov 28, 2019
Bitcoin (BTC) has been firmly controlled by bulls over the past two weeks, with the cryptocurrency garnering massive momentum after it dipped to lows of $6,800 earlier this month. Ever since it bounced from these lows, Bitcoin has been caught in a firm uptrend that has allowed it to surge towards the $9,000 region, which each pullback being relatively minor and quickly followed by an extension of its momentum. Analysts are now noting that it may still be too early to get too charmed by the recent Bitcoin rally, as there are multiple factors that suggest bulls have overextended themselves and that bears will soon take control of the crypto. Bitcoin Rallies Towards $9,000 as Bulls Catalyze a Massive Rally At the time of writing, Bitcoin is trading up just under 8% at its current price of $8,700, which marks a notable climb from its daily lows of under $8,100, and an even greater climb from its weekly lows of $7,700 that were set late last week. After BTC broke above $8,000 last week, multiple analysts had noted that it…Jan 14, 2020
San Francisco-based Kraken says the increasing number of law enforcement requests across the globe is placing a significant strain on crypto exchanges. Since 2018, several platforms have been forced to go out of business for reasons other than being victims of cyber thefts. Global Rise in Compliance Costs In a Twitter thread published on Tuesday (January 7, 2020), Kraken revealed a snapshot from a report issued by its compliance team. The snapshot shows an almost 50 percent increase in the number of law enforcement requests received by the crypto exchange platform. It’s that time again. Here’s a snapshot of our Compliance team’s 2019 Transparency Report. Team America still ahead with 61% of total requests, down from 66% last year. Other geos gaining fast. Trend is obvious. Costs are increasing, even in a relatively flat market. pic.twitter.com/4AMe11unoL — Kraken Exchange (@krakenfx) January 7, 2020 According to Kraken, the industry is currently under the cush of a massive increase in oversight by governments and regulatory agencies. Kraken reportedly received 710 information requests in total in 2019. This number almost exceeds all the…Jan 7, 2020
Despite the ongoing coronavirus pandemic, portions of the gaming community are partaking in this year’s April Fools’ shenanigans. We’ve compiled some of our favorite jokes from the likes of PUBG Corp, Platinum Games, and Sports Interactive. As PUBG Corp puts it, we hope they provide “a little bit of lighthearted fun” during these trying times. The current climate means April Fools’ doesn’t quite have the same shine as it usually does. With the COVID-19 pandemic sweeping across the globe, partaking in the perennial day of jest could be considered distasteful and ill-timed. Nevertheless, this hasn’t stopped developers, the press, and even the general public from having a go at trolling gamers. In these uncertain times, a dose of humor can provide some much-needed solace – if only as a distraction from trawling through the latest coronavirus news. In that spirit, we’ve compiled some of the gaming industry’s most hilarious April Fools’ jokes. 1. God of War Part II Source: Twitter Surfacing on Twitter, this one parades as an “official” tweet from Santa Monica Studio announcing PlayStation 5 exclusive God of…Apr 1, 2020
Despite the gloomy short-term price trend of Bitcoin (BTC), the pattern of liquidations on BitMEX and historical funding rates point toward a possible serious short squeeze in the medium-term. “High chance BTC bears get margin called big time in coming months. Funding rates will be your evidence in hindsight,” Bitazu Capital partner Mohit Sorout said. On March 12, a huge drop in price liquidated over a billion dollars in Bitcoin long contracts, causing BTC to drop to as low as $3,600. A similar squeeze could occur against bears or shorts in the upcoming months, which may cause a strong upsurge. The bitcoin market is now showing peak fear, wait until it subsides Amid the coronavirus pandemic and rising jobless claims across the globe, investors are expressing fear towards the stability of all asset classes including stocks, cryptocurrencies and precious metals. It has resulted in panic-driven selling throughout March, and while Bitcoin has rebounded since falling below $4,000, prominent technical analysts like DonAlt have identified the $4,000 to $5,000 range as a potential retest area for BTC in the short-term. The…Apr 16, 2020
A cybercrime group recently infected two plastic surgery studios with ransomware. They subsequently leaked patient’s social security numbers and other sensitive information onto the internet. Emsisoft threat analyst, Brett Callow, told Cointelegraph on May 5 that Maze recently took credit for hacking a plastic surgeon named Kristin Tarbet. They also claim to have hacked the Ashville Plastic Surgery Institute. He explained that in Tarbet’s case, the hackers have already leaked highly sensitive data: “The data that has been posted included names, addresses, social security numbers as well as what appears to be before and after photos and photos taken during surgical procedures. The Maze group typically start by posting only a small amount of the data that was exfiltrated — it’s the equivalent of a kidnapper sending a pinky finger — so they may well have more data than has already been published.” Callow explained that many ransomware incidents are caused by basic security failings. These include easy-to-crack credentials or unpatched remote access systems. He said that organizations should focus more on cybersecurity since “Maze uses a combination of strategies…May 6, 2020