Category Archives: Banking sector news

Cryptocurrency Exchanges Keep Getting Hacked

In an increasingly vulnerable world of online transactions that are bombarded with constant external threats, continued security breaches and data thefts are affecting the integrity of cryptocurrency exchanges. The massive surge in the popularity of cryptocurrencies among online users has meant that every data breach is prone to leave investors high and dry, with losses being reported to the tune of millions of dollars. It is currently estimated that more than a third of all cryptocurrency exchanges have been hacked in the past, or are susceptible to security threats in the future, while more than 60% of the new exchanges wind up their business within the first five years of their operations.

Don’t Regular Centralized Exchanges Get Hacked Often?

Security breaches are not that uncommon in the world of finance, as more than half of the exchanges in the market face attacks on a daily basis. However, the main difference between a centralized exchange and a cryptocurrency exchange is that the former is regulated and controlled by an agency, while the latter is completely unregulated and decentralized. Therefore, a majority of cyber-attacks on centralized exchanges are often neutralized completely, with only a minimal number of breaches contributing to any significant loss of money or an overall drop in the value of the exchange (also known as the market cap).

While the lack of any centralized control over cryptocurrency constitutes as the main reason behind the allure of block-chain technology, it does pose a significant threat to investors. For instance, a centralized exchange implements a wide range of security measures and investor insurance to protect investors from any loss of money due to hacks or data breaches. On the contrary, third-party cryptocurrency exchanges don’t have any depositor insurance policies to cover for the damages that happen during a hack, neither do they employ any large-scale encryption technologies or security features to counter the attacks. Most cryptocurrency exchanges are small in stature with a very limited operating budget, which makes it impossible for them to invest the right amount of resources that are required to implement the latest and most advanced security solutions.

Aren’t Cryptocurrencies Secure?

Cryptocurrencies like bitcoin are indeed highly secure and anonymous, where every individual wallet requires a private key to access the bitcoins. Losing your private key means that you lose access to all the bitcoins in your account, with no option to recover them. However, exchanges are different, as they operate as third-party holding houses, much like banks. Cryptocurrency exchanges operate in a similar manner to a regular e-wallet, where you can convert any currency into a cryptocurrency. Therefore, if you use any of the popular exchanges to buy or sell bitcoins, you do not hold the key to your bitcoins, which leaves you far more exposed to security threats.

The Volatility of Cryptocurrency & Protecting Your Money

Cryptocurrencies are incredibly volatile, with some days seeing as much as a 50% move in either direction. Floating the cryptocurrencies in the market without any centralized regulation has led to a massive amount of speculation, where even the minutest of cryptocurrency exchange hacks or other data breaches can have a substantial impact on the underlying value of the entire market. Cryptocurrencies have indeed added value to the way we transact online, but until the market settles down with less volatility and exchanges adopt the best encryption protocols, we would advise investors to exercise due diligence while dealing with cryptocurrencies through a third-party service provider.

Royal Bank of Canada (USA) Return on Equity Remained 15.49% – NYSE:

Royal Bank of Canada (USA) (NYSE:RY) witnessed volume of 644,031 million shares during last trade however it holds an average trading capacity of 1.12 million shares. RY shares opened at $47.54 reached intraday low of $46.80 and went +0.92% up to close at $47.23.

RY shares price distanced by +2.54% from 20 days average, -2.54% from SMA50 and -13.92% from SMA200. Similarly, the shares performance calculated for a week provided positive result of 3.83%, -1.99% for a month and Year-to-Date performance was -7.28%.

The company has an Enterprise Value of -$140.01 billion where in most recent quarter it had a total cash in hand amounted to $344.55 billion with a 24.41 book value per share. The beta value of 1.27 signifies to the movement of price with the market condition.

Its past twelve months increase in return from assets was 0.86%, and return on equity remained 15.49%. The net profit margin in last 12 months grew up to 21.78% and in most recent quarter debt to equity of -1.24 giving a view of company’s reliance on taking loans.

The Company’s year to year quarterly revenue growth was 10.30% and Net Income Available to Shareholders reached to $5.59 billion with the diluted EPS of 2.83.

Toronto-Dominion Bank (USA) Generated Net Profit Margin 24.80% – (NYSE:TD)

Toronto-Dominion Bank (USA) (NYSE:TD) witnessed volume of 537,453 shares during last trade however it holds an average trading capacity of 950,969 shares. TD shares opened at $74.04 reached intraday low of $73.27 and went +1.58% positive to close at $74.15.

TD shares price distanced by +4.32% from 20 days average, +0.78% from SMA50 and -6.26% from SMA200. Similarly, the shares performance calculated for a week provided positive result of 5.30%, -1.93% for a month and Year-to-Date performance was 3.16%.

The company has an Enterprise Value of -$36.52 billion where in most recent quarter it had a total cash in hand amounted to $201.98 billion with a 44.42 book value per share. The beta value of 1.34 signifies to the movement of price with the market condition.

Its past twelve months increase in return from assets was 0.82%, and return on equity remained 13.20%. The net profit margin in last 12 months grew up to 24.80% and in most recent quarter debt to equity of -2.32 giving a view of company’s no reliance on taking loans.

The Company’s year to year quarterly revenue growth was 12.90% and Net Income Available to Shareholders reached to $5.09 billion with the diluted EPS of 5.74.

Home BancShares, Inc. weekly performance remained 8.02% – NASDAQ:HOMB

Home BancShares, Inc. (NASDAQ:HOMB) witnessed volume of 110,605.00 shares during last trade however it holds an average trading capacity of 110,409.00 shares. HOMB shares opened at $21.68 reached intraday low of $21.44 and went +3.76% up to close at $22.08.

HOMB shares price distanced by +2.16% from 20 days average, -1.48% from SMA50 and -1.99% from SMA200. Similarly, the shares performance calculated for a week provided positive result of 8.02%, 0.00% for a month and Year-to-Date performance was 1.05%.

The company has an Enterprise Value of $579.19 million where in most recent quarter it had a total cash in hand amounted to $287.47 million with a 15.96 book value per share. The beta value of 0.61 signifies to the movement of price with the market condition. The percentage of holdings by the insider in HOMB is 11.55%.

Its past twelve months increase in return from assets was 0.65% and return on equity remained 4.33%. The net profit margin in last 12 months grew up to 11.40% and in most recent quarter debt to equity of 0.22 giving a view of company’s reliance on taking loans.

The Company’s year to year quarterly revenue growth was 18.89% and Net Income Available to Shareholders reached to $19.33 million with the diluted EPS of 0.67.

Royal Bank of Canada (USA) Generated Net Profit Margin of 20.49% – NYSE:RY

Royal Bank of Canada (USA) (NYSE:RY) witnessed volume of 792,486 shares during last trade however it holds an average trading capacity of 1.29 million shares. RY shares opened at $49.54 reached intraday low of $49.36 and went -1.33% down to close at $49.65.

RY shares price distanced by -2.32% from 20 days average, -6.92% from SMA50 and -10.55% from SMA200. Similarly, the shares performance calculated for a week provided negative result of -0.48%, -3.95% for a month and Year-to-Date performance was -2.53%.

The company has an Enterprise Value of -$142.34 billion where in most recent quarter it had a total cash in hand amounted to $355.77 billion with a 25.21 book value per share. The beta value of 1.24 signifies to the movement of price with the market condition.

Its past twelve months increase in return from assets was 0.85%, and return on equity remained 15.00%. The net profit margin in last 12 months grew up to 20.49% and in most recent quarter debt to equity of -1.29 giving a view of company’s reliance on taking loans.

The Company’s year to year quarterly revenue growth was 10.30% and Net Income Available to Shareholders reached to $5.77 billion with the diluted EPS of 2.92.

PNC Financial Services Generated Net Profit Margin of 22.66% – NYSE:PNC

PNC Financial Services (NYSE:PNC) witnessed volume of 5.60 million shares during last trade however it holds an average trading capacity of 6.34 million shares. PNC shares opened at $47.15 reached intraday low of $46.32 and went -1.55% down to close at $47.04.

PNC shares price distanced by -10.30% from 20 days average, -15.82% from SMA50 and -20.36% from SMA200. Similarly, the shares performance calculated for a week provided negative result of -4.62%, -15.89% for a month and Year-to-Date performance was -21.50%.

The company has an Enterprise Value of $39.81 billion where in most recent quarter it had a total cash in hand amounted to $18.66 billion with a 60.05 book value per share. The beta value of 1.25 signifies to the movement of price with the market condition. The percentage of holdings by the insider in PNC is 0.21%.

Its past twelve months increase in return from assets was 1.27%, and return on equity remained 10.84%. The net profit margin in last 12 months grew up to 22.66% and in most recent quarter debt to equity of -0.94 giving a view of company’s reliance on taking loans.

The Company’s year to year quarterly revenue growth was 7.50% and Net Income Available to Shareholders reached to $3.27 billion with the diluted EPS of 6.80.

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