U.S. Independent Rating Agency to Release Cryptocurrency Ratings Tomorrow
Weiss Ratings, a U.S. independent rating agency, will issue letter grades on some of the most popular cryptocurrencies tomorrow. Some of those cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Cardano (ADA), NEM (XEM), Litecoin (LTC), Stellar (XLM), EOS, IOTA, Dash, NEO, TRON, Monero (XMR), and Bitcoin Gold (BTG). According to Bitcoin News, these ratings will be a first for any U.S. financial rating agency.
Value of Nine Cryptocurrency-Focused Hedge Funds Increased by 1,167% Throughout 2017
The value of nine hedge funds linked to cryptocurrency investments increased by 1,167% as a group throughout 2017, according to Eurekahedge Pte. This preliminary estimate includes assets under management and individual returns. According to Investopedia, traditional investment companies have been slow to adopt cryptocurrency portfolios because they view digital currencies as highly speculative and risky investments. Traditional hedge funds as a global group had returns of 8% overall throughout 2017.
10 percent of Funds Raised in ICOs Either Lost or Stolen by Hackers between 2015 and 2017
As reported by CNET, researchers from Ernst & Young found that more than 10 percent of funds raised in ICOs have been either lost or stolen by hackers. Ernst & Young analyzed 372 ICOs that were targeted by hackers. The firm also found that the majority of thefts occurred through phishing, a method that tricks victims into clicking on malicious links.
Louis Dreyfus Co. Utilizes Blockchain for Commodity Trades — Reduces Document Processing Time by 80%, Transaction Time by 50%
Louis Dreyfus Co., one of the world’s largest foodstuffs traders, disclosed that is had teamed up with Dutch and French banks in December 2017 for its first agricultural commodity trade using blockchain. According to Bloomberg, Louis Dreyfus Co. used a blockchain platform to sell a cargo of U.S. soybeans to Shandong Bohi Industry Co. in China. As a result, the time to process documents was reduced by 80%, while transaction time was reduced by 50% (two weeks to one week).
Shares of 1-Year-Old Company, Stapleton Capital, Increase 130% After Changing its Name to Blockchain Worldwide
Stapleton Capital, which listed last year and has not announced a single investment yet, announced that it has changed its name to Blockchain Worldwide and new plans to explore the technology. According to the Telegraph, the company’s share value increased 130% the morning following the announcement. However, by the end of trading hours, the overall share value increase was only 30%.
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