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A hosted web-based eWallet used for sending, receiving, and storing bitcoin, ethereum, and litecoin. Established in 2012, USA. CEO/founders - Brian Armstrong, Fred Ehrsam.

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Coinbase, Poloniex and Other AA-Graded Crypto Exchanges Saw a 31% Plunge in Trading Volume in Sept – Report

Cryptocurrency information website CryptoCompare recently released its September report, and it has some surprising data about cryptocurrency trading in the month of September. According to the report, AA-rated exchanges, that is Coinbase, Poloniex, Bitstamp, bitFlyer, Liquid and itBit, have witnessed a 31.6% plunge in their trading in a month, while D and E grade exchanges have made over 71% of the spot trading volume. Lower Tier Exchanges Getting More Trade Than the Top Tier Exchanges As per the report, lower-tier exchanges have beat top tier exchanges at trading volume. AA-graded exchanges only made up 3% ($14.87 Bn) of the aggregate cryptocurrency trading volume in September, whereas A and B grade exchanges traded 14.3% )($71.98 Bn) and 4.7% ($4.7 Bn) of the total volume respectively. Grade D and E exchanges did have a trading volume of a whopping $347.2 Bn in September. Coinsbit, LBank, and P2PB2B were among exchanges that enjoyed a relatively bigger trade size than many higher graded exchanges. Their average trade sizes stood at 8.7, 2.1 and 1.2 BTC respectively. In terms of trade count, the top tier exchanges scored higher. Grade D exchange Coinsbit only had an average of 2.526 trades per day, while Digifinex, Binance, OKEx and Bitstamp had an average of over 400K, 300K, 226K and 14K trades per day respectively. Among fiat exchanges, Liquid was a clear winner with an average of 575K daily trades. CME Rules Institutional BTC Products When it came to institutional bitcoin products, CME was the top player with a total trading volume of $4.82 Bn. This figure, however, was 18.3% lower than its August figure of $5.9 Bn. Grayscale’s Bitcoin Trust (GBTC) also plunged 37.5% from its August figures to $713.6 MM in September. Most Traded Derivative – BitMEX’s Perpetual BTC Futures In the crypto derivatives segment, OKEx displayed exceptional performance with a daily derivatives volume trading of $3.0 Bn and a 33.7% market share. Huobi came second with a volume of 2.82Bn and a 31.6% market share and BitMEX third with a volume of $1.88 Bn and a market share of 21.1%. BitFlyer, Deribit and CryptoFacilities followed with the daily trading volume of $797 MM, $334 MM and $74 MM respectively. BitMEX’s perpetual BTC futures were the most derivatives product by trading volume. A total of $41.7 Bn BitMEX perpetual BTC futures were traded in the month of September. BTC futures products by Huobi and OKEx with expiry on 27 September also saw a healthy trading volume of $23.3 Bn and $17.4 Bn respectively. What do you think of the crypto market’s September performance? Share your views with us in the comments below! The post Coinbase, Poloniex and Other AA-Graded Crypto Exchanges Saw a 31% Plunge in Trading Volume in Sept – Report appeared first on Coingape.

How the Coinbase Security team deployed CTFd to Power our First Capture the Flag contest at Defcon…

How the Coinbase Security team deployed CTFd to Power our First Capture the Flag contest at Defcon 27By Nishil Shah and Peter KacherginskyWe recently ran Coinbase’s first Capture the Flag (CTF) competition called Capture the Coin. As part of running the CTF, we needed to setup the underlying infrastructure. In this guide we’ll describe our process from choosing a CTF platform to getting it production ready. This CTF definitely would not have been possible without all the open source contributors, projects, tutorials, and free services we leveraged, so we’re making this guide as a small contribution back to the community. Overall, the process took us a few weeks to setup, but with this guide, you’ll only spend a few days.Choosing a CTF PlatformWe chose CTFd as our CTF platform based on the following criteria:Challenge Input InterfaceSupport for Types of ChallengesFree Response (Static and Pattern-Based)Dynamic ValueMultiple ChoiceCustom PluginsPublic ScoreboardUser and Team RegistrationAdmin PanelPlayer CommunicationsHintsActive MaintainersCTFd had support for most of our requirements except for multiple choice questions. However, requirements like having active maintainers was useful when the maintainers quickly patched a bug in a few hours. We also wanted to write challenges that forced users to interact with a real blockchain. This would require some custom development, so we also wanted the ability to build our own custom modules. Anecdotally, a few other CTFs had run successfully on CTFd. Given these requirements, CTFd matched our needs the closest.CTFd mostly worked out of the box by following the README instructions; however, we did run into one issue. Out of the box, CTFd started running really slow. We did some basic debugging like looking at memory and CPU utilization to see if we needed to upgrade our EC2 instance. In general, resource consumption was generally less than 1%. We eventually found out that using Sync workers was inefficient. We changed the settings to use async gevent workers and correctly setting worker_connections and workers using the advice from this post. This solved our issue and CTFd worked great with very little latency.Capture the Coin InfrastructureSetting up and running this CTF was a great learning experience in getting hands-on with AWS and debugging real issues. As appsec engineers reviewing code or infrastructure, we often times can become unsympathetic to how hard an engineers’ job can be when defining security requirements even in a #SecurityFirst engineering culture. Just for something as simple as a CTF, the bill of materials starts to pile up as you can see below.Cloudflare Free TierCTFdGoogle Recaptcha v2InfuraLet’s Encrypt/CertBotRedis (AWS-managed or locally running)SES Email Forwarder Lambda (Here’s a guide we found very helpful to setup this lambda)AWS (Paid Tier)EC2IAMLambdaRDS AuroraS3SESHere’s a network diagram of what our AWS infrastructure looked like at a high level.Our vendor choices were typically determined by our own familiarity. We used AWS as our infrastructure provider, and we used Cloudflare as our DoS protection for similar reasons. For email and email verification, we used SES to trigger an email forwarder lambda and save a copy of the email to an S3 bucket. The lambda then pulled the email from the S3 bucket and forwarded the contents to the recipients defined in the lambda. Eventually, we swapped out our EC2 instance hosting an Ethereum node with Infura as this gave us reliable connectivity to the ETH blockchain for the smart contract challenges. Our infrastructure is rather simple compared to the complicated microservice environments today, but there was still some complexity involved.Our Setup NotesSignup for AWS Account.Buy a domain with your favorite provider.Set up Route53 NS DNS records in AWS.Set up Route53 MX DNS records in AWS.Set up Route53 SOA DNS records in AWS.Set up Route53 SPF DNS records in AWS.Set up Route53 DKIM DNS records in AWS.Note: The AWS SES Domain Verification step will require an additional TXT record.Spin up an EC2 micro instance. You can always resize later.Attach the right security groups. Initially, we limited external access to private IP ranges so that we didn’t accidentally leak challenges until we started the competition.Spin up RDS instance. We went with the AWS managed solution because this was the simplest and we wouldn’t have to worry about load balancing or patching.Follow this guide to get inbound and outbound emails working under your CTF domain.Install CTFd by cloning the repo and installing dependencies. (We used v2.1.3)Setup Google Recaptcha v2 for spam and DoS protection.Setup Infura or your own node if you want Ethereum smart contract challenges.Setup Let’s Encrypt/Certbot for HTTPS during testing and eventually for connections from Cloudflare to CTFd.Setup AWS-managed Redis or use a Redis instance locally.Setup port forwarding 80 to 443 and 443 to 8443 so CTFd doesn’t have to run with sudo and http:// is auto-redirected to https://.Run CTFd! Note that Unix security best practices still apply like running the application under a limited user.Run the following commands to set all the environment variables.# CTFd Databaseexport DATABASE_URL=# Web3export WEB3_PROVIDER_URI=export GETH_ACCT_PASSWD=# Redis Cachingexport REDIS_URL=# Infuraexport WEB3_INFURA_API_KEY=export WEB3_INFURA_API_SECRET=# reCAPTCHAexport RECAPTCHA_SECRET=export RECAPTCHA_SITE_KEY=cd CTFdgunicorn3 -name CTFd —bind —statsd-host localhost:8125 —keyfile /etc/letsencrypt/live/ —certfile /etc/letsencrypt/live/ —workers=5 —worker-class=gevent —worker-connections=5000 —access-logfile /home/ubuntu/access.log —log-file /home/ubuntu/error.log “CTFd:create_app()”We found this guidance for optimizing workers and worker-connections helpful.When finished testing with your running CTFd instance, setup the competition dates in the CTFd admin interface.Install the Ethereum Oracle CTFd extension and generate contracts.Add SES SMTP credentials to CTFd admin interface for user registration if you want email verification.At this point, the CTF should be entirely setup. Only keep going if you’d like to setup Cloudflare for DoS protection.Setup Cloudflare DNS and modify the AWS security group for the CTFd box to allow ingress from Cloudflare IPs.Setup Cloudflare SSL/TLS. SSL — Full (strict) if you still have a valid cert from Let’s EncryptSetup Edge Certificates — Cloudflare Universal SSL certificate unless you have the budget and security requirements for a dedicated cert or uploading your own cert.Setup Cloudflare by enabling Always Use HTTPS, HSTS, TLS 1.3, Automatic HTTP Rewrites, and Certificate Transparency MonitoringSetup Cloudflare by using minimum TLS version 1.2You can also setup whitelisting for known good IP addresses in Firewall Tools so that Cloudflare doesn’t challenge requests from these ranges.Dynamic OracleOne requirement for the competition was to support Ethereum smart contract challenges, after all, this was called Capture the Coin. If no (testnet) coins could be captured, we would not have lived up to the name.The contest included the excellent CTFd Oracle plugin by nbanmp which allowed us to process on-chain events such as determining whether or not the deployed smart contract was successfully destroyed by the player. We have modified the original oracle to allow for contract pre-deployment since Ethereum Ropsten network may sometimes be unreliable.You can find the source code for the oracle and contract deployer here: StepsIn the future, we plan to use the dockerized setup so that it is easy to spin up and down the entire CTFd platform. CTFd already allows for codification of the settings which is helpful in being able to get predictable application deploys. We also would like to codify our infrastructure so that we can get predictable and simple deploys.Thank you to all the open source contributors without their contributions hosting this CTF would not have been possible.If you’re interested in working on solving tough security challenges while also creating an open financial system, please join us!This website contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.All images provided herein are by Coinbase.How the Coinbase Security team deployed CTFd to Power our First Capture the Flag contest at Defcon… was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
The Coinbase Blog

Coinbase, Cash App, Remain Top Rated Places To Easily Buy Bitcoin

Cryptocurrencies like Bitcoin or Ethereum are new, emerging financial technologies and assets. The unfamiliarity with the new technology can make getting started in crypto seem like a daunting process. A handful of companies, however, provide easy access to buy Bitcoin and gain exposure to the crypto market. Of those, the two most popular of those easy-to-use fiat on-ramps remain relatively unchallenged, and according to a new poll, are unlikely to lose their leadership positions. Coinbase and Cash App Top Crypto Market Poll Buying Bitcoin is a very easy process, and anyone can do so in just a few steps. Simply sign up to Coinbase or Cash App, add your personal details and bank, debit, or credit card information, potentially upload some documents depending on how much you are looking to buy, and in just a few clicks and no time at all anyone can load up on the first-ever cryptocurrency. Related Reading | Square Cash App “Absorbing” 10% of Bitcoin Supply Daily, 200% Projected By 2020 The two brands provide quick and painless access to the crypto market, so it is no surprise that they received the most votes as the crypto community’s favorite places to buy Bitcoin. Where is your favorite place to buy $BTC? — Hashoshi from Crypto YouTube (@hashoshi4) October 16, 2019 The votes were tallied as part of a Twitter poll created by cryptocurrency-focused YouTube personality, Hashoshi. The poll revealed San Francisco crypto exchange Coinbase as the clear leader, followed by the Cash App, and “Other.” was also mentioned but received the smallest amount of votes. Anyone voting with “Other” was asked to reveal which platforms they use to buy Bitcoin. Common responses included the Voyager app, Level, LocalBitcoins, and the Winklevoss-owned Gemini. Investors Prefer to Buy Bitcoin on Coinbase or Cash App It’s certainly not shocking to see Coinbase top the list. It’s easily among the most popular platforms in the United States, where the largest portion of crypto investors reside. At the height of the crypto bubble, Coinbase topped the Apple App Store list of popularly downloaded apps making it a household name alongside Bitcoin. Where did you buy your first bitcoin? And where do you buy bitcoins now? I’ll start: @coinbase, @cashapp — Zack Voell (@zackvoell) October 16, 2019 Cash App, nearly missed out on the crypto bubble entirely, only first debuting Bitcoin buying to a small subset of users just as the bubble began to pop, and rolled it out to the masses later in 2018. Related Reading | Steep Fee Hike as Crypto Clamoring for a Coinbase Killer But the late start didn’t hurt Cash App, which is said to be absorbing as much as 10% of the freshly mined Bitcoin supply each and every day. This number is expected to increase to 200% by next year if the company’s growth projections stay on target. It’s not all roses for the market leaders, though. Earlier this month, Coinbase raised its fees on its Coinbase Pro platform, causing upset across the industry. However, regardless of the fees, it seems that Coinbase will likely remain the market leader in the days ahead until either Cash App can entirely unseat them from the throne, or until a new leader emerges. Coinbase, Cash App, Remain Top Rated Places To Easily Buy Bitcoin was last modified: October 17th, 2019 by Tony SpilotroThe post Coinbase, Cash App, Remain Top Rated Places To Easily Buy Bitcoin appeared first on NewsBTC.

High Net Worth Bitcoin, Crypto Big Brother, Facebook Should Add Bitcoin & Coinbase + Libra

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Coinbase Simplifies Merchant Payment Process By Enabling Direct Access To Coinbase Commerce

Coinbase Commerce, an arm of the Coinbase cryptocurrency exchange made for institutional investors has integrated a merchant payment service within the Coinbase app. The integration of this service would allow investors to pay for their goods and services from their Coinbase account. Earlier investors had to go through a long complex process of copying complex […]
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Trustology gets $8M, Coinbase launches OTC, BTC scams Singapore investors, UNICEF invests in six blockchain startups, Klaytn partners with Watcha and Atlas, Raise partners with African Legal Network, NEM plans to work with GUBI, Blockchain Association and eToro become partners, Tokeny partners with Security Token Network, Maker Ledger launches partnership with Neufund, KuCoin partners with Shrimpy, BitMart announces partnership with CertiK, SBI Holdings partners with R3, TokenIQ teams with DealBox

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CFTC Chairman: commodity can become security and vice versa

Commodity Futures Trading Commission (CFTC) chairman Heath Tarbet confirmed that a security can turn into a commodity and vice versa.  Tarbet made this remark on Monday at DC Fintech Week, when asked about a comment he made earlier this month that ether is not a commodity. At the conference, Tarbet emphasized that the Securities and Exchange Commission (SEC) is the entity that determines when something is a security, while the definition of commodities, which fall under the CFTC's jurisdiction, is broader.   Meanwhile, the SEC has dealt out a string of crackdowns on initial coin offerings (ICOs) of tokens that it deems as securities.   Earlier this month, the regulator filed an emergency action against Telegram and TON Issuer for failing to register the sale of their Gram tokens, which the SEC regarded as securities. This filing follows a settlement between the SEC and, the firm behind the EOS blockchain, for conducting an unregistered ICO. 
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Bitcoin Mining Moves to Texas, Bitmain Announces Partner for Massive New Facility

The Bitcoin mining giant Bitmain has just announced that it will work with a Canadian startup to help create a facility with potentially 300MW of power in Texas. DMG Blockchain Solutions Inc. will be providing the Chinese firm with project management services. The news comes less than a week after a different startup announced its intentions to also bring Bitcoin mining to Texas. Layer 1 aims to create an all-in-house mining facility and has received funding of $50 million to help it achieve this. Another Massive Mining Operation for Texas According to a press release, Bitmain has partnered with a Canadian startup to help it create a massive mining facility in Texas. The Chinese hardware manufacturer will be working with DMG Blockchain Solutions Inc. – a self-described “diversified blockchain and technology company.” DMG states that it was chosen following an extensive selection process. Bitmain initially started construction of a 25MW mining farm on a 33,000 acre site in Rockdale, Texas, last year. The firm has now announced that it will be at least doubling its size with the help of DMG. The site will be powered with electricity sourced from the Electric Reliability Council of Texas (ERCOT). The CEO of DMG, Dan Reitzik, stated the following of the deal between the two companies: “Being chosen by the world’s leading bitcoin mining company is a great testament to the capabilities of DMG’s mining team. Over the past several months, Bitmain visited many large facilities throughout North America including DMG’s flagship facility in British Columbia, Canada.” The release says that there is currently 50MW of power available for the planned Texas site. There is also the potential to increase this to 300MW. This would make it one of the largest Bitcoin mining facilities on the planet. DMG says that it will be handling management of the new facility but will not be adding to the funding of the project. Sheldon Bennett, COO of DMG, commented on the firm’s suitability for its new management position: “Having led large projects in Alberta and recently completing DMG’s 60MW facility, this 300MW facility is an exciting opportunity for DMG to truly demonstrate economies of scale. While the task of managing what we believe will be the world’s largest bitcoin data centre is daunting, we are confident that together with Bitmain, we will complete on time and on budget.” Don’t Bitcoin Miners Like the Cold? The news follows the recent announcement by another Bitcoin-focused startup. Layer 1, launched in 2018, originally positioned itself as an “activist fund for cryptocurrencies.” However, last week the firm announced that it had just completed a $50 million funding round. Amongst those backing the venture is US entrepreneur Peter Thiel. Layer 1’s plan is to perform almost all tasks relevant to the operation of a Bitcoin mining facility itself. This not only means manufacturing the chips but also creating a power substation and developing advanced cooling methods to deal with the intense Texas heat. Typically, Bitcoin miners have preferred cooler climates for their operations. This allows them to save money on systems systems needed to cool hundreds if not thousands of powerful computer systems working day and night in the same space. Bitmain’s Rockdale Lead Project Manager, Clinton Brown, explained why firms were starting to turn to Texas for Bitcoin mining: “We are excited to launch this facility, which is significant to Bitmain’s global expansion plans. The stable and efficient energy resources in Texas are fundamental to the inevitable scale of growth for the cryptocurrency mining industry.”   Related Reading: Russian Scientists Fined for Mining Bitcoin on Hijacked Supercomputer Featured Image from Shutterstock. Bitcoin Mining Moves to Texas, Bitmain Announces Partner for Massive New Facility was last modified: October 21st, 2019 by Rick D.The post Bitcoin Mining Moves to Texas, Bitmain Announces Partner for Massive New Facility appeared first on NewsBTC.

Bitmain’s Jihan Wu Talks Mining and Industry Growth With’s CEO

At the World Digital Mining Summit in Frankfurt, Germany,’s CEO Stefan Rust sat down with Jihan Wu, cofounder of Bitmain Technologies and Matrixport. The two discussed how cryptocurrencies being used for payments is spreading and how Bitmain is doing after the bear market last year. Also read: SEC Wants Second Look at Bitwise Bitcoin ETF Proposal A Virtual Economy at Work Approaching Critical Mass The World Digital Mining Summit (WDMS) is a two-day mining conference that hosts an assembly of industry leaders, mining rig manufacturers, cryptocurrency pool operators, and other individuals passionate about crypto. During the event,’s CEO, Stefan Rust, had the privilege of sitting down with Bitmain cofounder Jihan Wu and discussed a wide variety of subjects. At first, Wu explained how he got into Bitcoin and that while working for an investment firm, he happened to read something about Bitcoin and found it “really interesting at that time.” After looking into it for two days straight he decided that bitcoin was a good idea. Wu was actually the first person to translate Satoshi’s Bitcoin white paper into Chinese for residents living in the region. “I was the first one to translate the [white paper]. At that time in the Chinese media said Bitcoin was either a scam or it does not work,” Wu explained to Rust. “I happened to understand economics and some high-level principles of computer science so I knew [Bitcoin] works in both economic ways and in computer science ways. So I translated the white paper and tried to get more positive feedback from Chinese social media.” While recalling his old QT wallet, Wu emphasized that it’s been an amazing journey. “I still remember back then no one knew about bitcoin and right now there are 20 million or 40 million users around the world and almost everyone now more or less have heard about bitcoin — I believe there are actual users getting involved in the cryptocurrency economy and those [individuals] are really starting to use cryptocurrencies for payments. A way to store their cash account — I believe this kind of user base will increase more and more.” Wu continued: This is a virtual economy at work and it’s quite difficult in the beginning but I think we are almost near critical mass. The Bitmain cofounder remarked that he believes the 40 million crypto users globally had initially stemmed from investor types, but nowadays he sees more ordinary people joining the economy and “especially young people.” “[Individuals] are really pushing cryptocurrency into the local payment network and people start to use it,” Wu said. Rust also brought up spending bitcoin cash (BCH) in Slovenia where there are hundreds of merchants that accept digital assets for products and services. “Lots of people still today believe [Bitcoin] is undoable or it’s out of their imagination how cryptocurrency can be really adopted by real life use cases,” Wu replied. “I think it’s a miracle, I think it’s amazing and lots of miracles are happening nowadays.” Bitmain Continues to Produce Next Generation Mining Rigs and Chips After discussing cryptocurrency adoption, Wu also explained how Bitmain was doing this year. “After the bottom of the bearish trend last year we’ve seen a very fast recovery in the money industry and we can see the hashrate growing very fast. Bitmain’s sales volume increased a lot and we released a new generation of mining rigs and mining chips.” Wu detailed that the company also released new artificial intelligence (AI) chips. He further explained that Bitmain’s mining pools mined different cryptocurrencies and remain top-ranking mining pools. Wu stressed: It’s a good year for Bitmain. Additionally, Rust and Wu talked about regulations in China and how roughly 60% of the world’s hashpower is located in the country. The two executives discussed the possibility of China banning bitcoin mining and how the Chinese government is dealing with oversight. The Bitmain cofounder and CEO conversed about a slew of other subjects like the ecological impact of bitcoin mining, the reward halving, and a lot more insights from someone who’s seen the cryptocurrency mining industry grow immensely, first hand. If you want to check out our exclusive interview with Bitmain’s Jihan Wu, check out the video below. What do you think about Jihan Wu’s perspective of the mining industry and cryptocurrency ecosystem? Let us know what you think about the interview in the comments section below. Image credits: Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post Bitmain’s Jihan Wu Talks Mining and Industry Growth With’s CEO appeared first on Bitcoin News.
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BANK OF AMERICA: Companies are crushing earnings season so far — but the firms missing forecasts are being punished more than usual (BAC)

Third-quarter earnings season is a couple weeks underway, and Bank of America Merrill Lynch analysts found that companies that missed sales and profit expectations are getting hit more than usual in next-day trading. The companies that fell short of expectations for revenue and earnings underperformed the S&P 500 by 3.9 percentage points, the analysts found, compared to the 2.4 percentage point historical average. The worse-than-usual performance by such companies suggests investors may not be confident enough in long-term outlooks to forgive third-quarter performance, Bank of America said. Visit the Business Insider homepage for more stories. Third-quarter earnings season is underway, and the performance of 75 S&P 500 companies to already report brings fresh insight into investors' economic outlook. Of the companies to report, 43% have beaten analyst expectations for both revenue and earnings, according to Bank of America Merrill Lynch analysts. The figure lands slightly above the second-quarter average of 41% and the year-ago average of 40%. Yet the companies that missed analyst estimates in both categories were clobbered more than usual in public trading, underperforming the S&P 500 by 3.9 percentage points in next-day trading, the analysts found. Historically, companies underperform the index by 2.4 percentage points when they miss sales and earnings estimates. Read more: Goldman Sachs says these 5 trades can help investors make a killing during a crucial earnings season The companies beating both estimates outperformed the index by 1.6 percentage points, falling in line with the historical average. The worse-than-usual punishment could reflect a lack of long-term confidence among traders, with third-quarter misses signaling a prolonged downturn. The analysts also found mentions of words like "better" or "stronger" against "weaker" or "worse" hitting the lowest gap since 2009, which could be a result of continued trade tensions and souring global economic outlook. Earnings of the 75 companies to report were 2% above consensus estimates, with healthcare and consumer discretionary companies delivering strong beats. Banks performed in line with estimates despite macroeconomic indicators warning otherwise and recent Fed rate cuts squeezing profit margins. The current trends are subject to change, especially with 36% of S&P firms slated to report their third-quarter earnings in the week starting Monday. Mega-cap stocks like Microsoft and Amazon will announce their latest figures, and more than half of communication services and energy companies will report as well. Now read more markets coverage from Markets Insider and Business Insider: Wall Street is sounding the alarm as a key source of stock-market buying evaporates The Fed's $60 billion monthly cash injections aren't enough to solve recent money-market stresses, JPMorgan says Billionaire Howard Marks gives his best advice for navigating an anomalous market where 30% of the world's debt has a negative yieldJoin the conversation about this story » NOW WATCH: A 45-year-long study discovered trends in successful hyper-intelligent children
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