jefferie

Сообщение ChainCatcher, согласно отчету CoinDesk, инвестиционный банк Jefferies в своем последнем отчете заявил, что законопроект «CLARITY Act» в США по-прежнему сталкивается с серьезными законодательными препятствиями в Сенате, и в ближайшие недели прогресс в соответствующем законодательстве может усилить волатильность крипторынка.Jefferies отметил, что, несмотря на то, что законопроект ранее был принят в Сенатском банковском комитете с результатом голосования 15 против 9, до августовского перерыва Конгресса осталось всего около 20 законодательных дней, и Сенату еще предстоит завершить интеграцию законопроекта, провести процедурное голосование, согласовать его с версией Палаты представителей и представить на подпись президенту, что создает серьезные временные ограничения.Данные Polymarket показывают, что вероятность принятия законопроекта до конца 2026 года снизилась с 70% в середине мая до 48%. Jefferies считает, что если законопроект будет успешно принят, это создаст четкую регуляторную основу для цифровых активов, что ускорит внедрение токенизированных активов, кастодиальных услуг, стейкинга, кредитования и других бизнесов со стороны банков, управляющих компаний и бирж, а также поспособствует большему количеству крипто ETF и IPO криптоинфраструктурных компаний. Если законодательство будет отложено, это может продлить неопределенность в регулировании, что приведет к замедлению продвижения блокчейн-бизнеса со стороны традиционных финансовых учреждений.В отчете ожидается, что процесс продвижения законопроекта продолжит оказывать влияние на рыночные показатели криптоконцептуальных акций, таких как Circle (CRCL), Coinbase (COIN), Bullish (BLSH) и некоторых криптоактивов.Jefferies также отметил, что в долгосрочной перспективе, по сравнению с изменениями в регулировании, более серьезной проблемой для эмитента стейблкоинов Circle остается конкуренция со стороны банков, финтех-компаний и платежных систем.

Jefferies stated after the first Digital Asset Investor Conference that as Wall Street and the payment industry accelerate the adoption of digital asset infrastructure, the number of publicly listed companies related to cryptocurrencies and blockchain may increase in the next two years, with the sector expected to grow into a $1 trillion public market within 5 years.Jefferies noted that institutional investors are shifting their focus from Bitcoin price speculation to the integration of blockchain infrastructure, with a focus on tokenized money market funds, private credit, blockchain settlement networks, stablecoins, and tokenized payments. The firm also pointed out that a clearer regulatory framework could further drive institutional adoption.

According to CoinDesk, Wall Street investment bank Jefferies stated that as institutional investors accelerate their shift towards blockchain financial infrastructure, the cryptocurrency and blockchain sector may see a new wave of IPOs in the next two years, potentially forming a public market worth $1 trillion within five years.Jefferies released a report indicating that the current industry focus is shifting from speculation on cryptocurrency asset prices to the comprehensive integration of blockchain infrastructure by banks, exchanges, asset management, and payment institutions. Companies like Kraken's parent company Payward and Securitize are advancing their IPO plans, and more crypto-related companies are expected to enter the public market in the future.Tokenization is seen as a key driving force behind this structural change, with money market funds, private credit, and on-chain settlement systems already entering the practical implementation stage. The gradual clarification of the regulatory environment will further accelerate institutional adoption. At this stage, the market is shifting from short-term speculation to long-term technological reassessment, and crypto IPOs may become an important gateway connecting traditional capital markets with the on-chain economy.

According to a Bloomberg report citing Jefferies, a hacker attack on small crypto projects over the weekend, involving nearly $300 million, and the subsequent $10 billion fund run at the largest decentralized lending platform (the KelpDAO and Aave incident), may weaken Wall Street's interest in blockchain technology.Andrew Moss, an analyst at Jefferies' digital asset research team, pointed out that over the past year, banks, asset management companies, and payment institutions have been developing blockchain products similar to the technology system exploited by North Korean hackers. The report suggests that while such incidents are unlikely to directly impact traditional financial markets, it warns that traditional financial institutions may pause related processes and reassess risks before further advancing blockchain business.

Jefferies, a Wall Street investment bank, pointed out that the approximately $293 million attack incident on Kelp DAO exposed critical infrastructure risks, which may prompt traditional financial institutions to reassess the pace of blockchain and tokenization advancement.Jefferies believes that the attackers triggered market sell-offs and liquidity strains by minting uncollateralized tokens and engaging in cross-platform lending. This incident is thought to be related to the Lazarus Group and also highlights the single point of failure issues in the verification mechanisms of cross-chain bridges. As institutions accelerate the tokenization of assets (such as funds, bonds, and deposits), the associated risks may cause some banks and asset management institutions to delay deployment and prioritize examining system security. Especially in scenarios that rely on cross-chain infrastructure, security vulnerabilities could lead to market fragmentation, undermining the practical utility of tokenized assets.Despite short-term confidence being shaken, Jefferies still emphasizes that the long-term trend remains unchanged. Under the backdrop of regulatory advancements and continuous improvements in infrastructure, applications such as stablecoins still have growth potential. However, the industry as a whole is still in the early stages of development and requires time to enhance system robustness.

According to the Financial Times, as gold prices reach record highs, Tether, the world's largest stablecoin company, has seen its gold holdings appreciate by over $5 billion.Based on estimates from Jefferies using data disclosed by Tether, as of the end of September, Tether held approximately 116 tons of gold, valued at around $14.4 billion at that time. Last September, the gold price was $3,858 per ounce, but amid rising geopolitical uncertainties and a surge of investors into safe-haven assets, it has now skyrocketed to over $5,200, meaning Tether has realized an appreciation of over $5 billion on this portion of its holdings. Tether stated this week that it further purchased 27 tons of gold bars in the fourth quarter of last year to back its stablecoin, and just this year, this additional holding has appreciated by at least $700 million. Tether's current total gold holdings are valued at approximately $24 billion, making it one of the biggest beneficiaries in this round of gold price surges.According to data from the World Gold Council, Tether has become one of the entities with the highest gold holdings globally, with its gold reserves comparable to those of the Qatar Central Bank (the UK's gold reserves are 310 tons). Jefferies analysts wrote in a report in November: "Tether is the largest holder of gold outside of central banks, with a holding size comparable to that of smaller central banks like South Korea, Hungary, and Greece."Recently, CEO Paolo Ardoino stated that the company is currently purchasing 1 to 2 tons of gold per week and will maintain this pace "in the coming months."

Jefferies strategist Christopher Wood stated in his latest "Greed & Fear" market newsletter that he has completely removed Bitcoin from his flagship model portfolio due to growing concerns that advancements in quantum computing could undermine the long-term security of cryptocurrencies. The 10% Bitcoin allocation he initially added at the end of 2020 has been replaced by a combination of physical gold and gold mining stocks.Christopher Wood further added that breakthroughs in quantum computing would weaken Bitcoin's reliability as a store of value for pension-style investors. If the timeline for the realization of quantum technology shortens, some capital allocators may now question Bitcoin's value storage properties, and the risks associated with cryptography might emerge sooner than expected, allowing attackers to derive private keys from exposed public keys, thereby undermining the cryptographic technology that supports Bitcoin balances and mining rewards, and challenging its role as "digital gold" in pension-style portfolios.

According to Bloomberg, Christopher Wood, the global equity strategist at Jefferies, recently removed 100% of the 10% Bitcoin allocation in his model portfolio, citing that the development of quantum computing could undermine the cryptographic security of Bitcoin.Wood stated that if quantum computing continues to advance, Bitcoin's value storage properties as a long-term, pension-like asset will face challenges, and this risk is beginning to enter the consideration of mainstream asset allocation.

According to Cryptopolitan, investment bank Jefferies stated on Thursday that Tether is a major new buyer of gold and a key reason for the recent surge in gold prices, as traditional factors are no longer the main drivers affecting gold prices. The report reveals that verified data and on-chain activity show that Tether has accumulated a large amount of gold in recent months, tightening gold supply and driving up precious metal prices. Investors have disclosed to Jefferies that Tether plans to purchase about 100 tons of gold this year, and its CEO Paolo Ardoino has publicly stated that the company will increase its gold reserves, expecting gold prices to soar to $1,000 per ounce.According to an analyst team led by Andrew Moss, as of the end of the third quarter, Tether holds about 116 tons of gold. They also revealed that the company has 12 tons of gold backing its XAUt tokens (worth approximately $1.57 billion), and about 104 tons of gold backing its stablecoin USDT (worth approximately $13.67 billion). Jefferies pointed out that Tether continues to ramp up its gold accumulation, having added about 26 tons in just the third quarter, which accounts for about 2% of global gold demand in that quarter. With business expansion, gold is expected to make up about 7% of its reserves. If half of Ardoino's projected $1.5 billion profit for 2025 is invested in gold, nearly 60 tons could be added each year.

According to Jin Ten's report, although the latest published Federal Reserve meeting minutes have a hawkish tone, Jefferies economist Mohit Kumar pointed out in a report that the Federal Reserve is still on a loose path overall. Even if the Federal Reserve remains unchanged in December, it is expected to cut rates in January next year. The Federal Reserve's decisions are data-driven, and in the coming months, the weight of employment data may surpass that of inflation. The baseline scenario is a moderate slowdown in job growth, with the unemployment rate gradually rising to 4.5%.

According to Jin Ten, Jefferies global economist Mohit Kumar stated that the prospect of the U.S. government restarting will eliminate several risks for the market, which should boost risk assets. With the Senate passing the stopgap spending bill, a government shutdown is likely to end this week. He believes that the clearing of positions will eliminate one of the resistances for risk assets, but uncertainty surrounding Federal Reserve policy still exists. The money market currently predicts a 64% probability that the Federal Reserve will cut rates by 25 basis points in December.

According to Jin Ten's report, the dollar slightly rebounded after experiencing a decline due to weak labor market data in the previous trading day. Third-party data shows that in October, U.S. companies laid off more than 150,000 workers, the largest scale of layoffs for that month since 2003. Jefferies economist Mohit Kumar stated that the market is overreacting to any hints about the labor market, and the outcome of the December Federal Reserve meeting is almost equivalent to "flipping a coin," with the key depending on the performance of the labor market.

ChainCatcher news, according to CoinDesk, investment bank Jefferies pointed out in a report released on Sunday that as Bitcoin prices fell by 2%, while the network's hash rate surged by about 9%, the profitability of Bitcoin mining declined by over 7%, intensifying the pressure on miners' profits in the fourth quarter of 2025.In that month, North American listed mining companies produced 3,401 Bitcoins, down from 3,576 in August, with their share of the global network decreasing from 26% to 25%. Among them, MARA Holdings had the highest output at 736 Bitcoins, up from 705 in August; CleanSpark followed closely with 629 Bitcoins, down from 657 in August. The price drop also reduced revenue, with a theoretical mining rig of 1 EH/s generating about $52,000 in daily income in September, down from $56,000 in August, and nearly $43,000 a year ago. The price decline, coupled with rising network difficulty, continues to compress the profit margins of the mining industry.

ChainCatcher news, according to CoinDesk, U.S. investment bank Jefferies pointed out in a recent client Q&A report aimed at large institutional investors that cryptocurrency is still in the "1996 stage," much like the early internet boom, and has greater growth potential. Many companies are actively developing investment strategies and determining how to allocate funds between tokens, ETFs, digital asset treasury companies (DAT), and publicly traded companies with risk exposure.Jefferies analysts noted that an excessive focus on Bitcoin prices distracts attention from the disruptive potential of blockchain technology across various industries, while their clients have already begun considering investments in the sector through exchange-traded funds (ETFs) and digital asset treasury management (DAT) companies. Their advice echoes the investment strategies of the 1996 internet era: be selective and focus on lasting utility.

ChainCatcher news, according to Jinshi reports, Jefferies strategist Mohit stated that the focus remains on the Federal Reserve's meeting on Wednesday, with the key being Powell's tone. If Powell emphasizes inflation risks more or the uncertainty surrounding the economic and inflation outlook, the market may lower its expectations for interest rate cuts.

ChainCatcher news, according to CoinDesk, investment bank Jefferies reported on Sunday that due to an increase in network hash rate, Bitcoin mining profits fell by 5% last month. The analyst team led by Jonathan Petersen stated that if the miners' hash rate is 1 EH/s, the daily revenue in August was approximately $55,000, down from $58,000 in July and $44,000 a year ago.In August, publicly listed mining companies in the U.S. mined a total of 3,573 Bitcoins, down from 3,598 in July, and these miners accounted for 26% of the Bitcoin network hash rate, unchanged from July. Among them, MARA Holdings (MARA) had the most outstanding mining performance, producing 705,703 Bitcoins, followed by IREN. Additionally, MARA had the largest available hash rate among these companies at 59.4 EH/s, with CleanSpark closely following at 50 EH/s.

ChainCatcher news, according to Coindesk, Jefferies has given Galaxy Digital (GLXY) a "Buy" rating for the first time in its latest research report, with a target price of $35.The report points out that the U.S. has improved the crypto regulatory environment through the GENIUS Act, providing a favorable market structure for Galaxy. Galaxy is also expected to benefit from the growing demand for AI data centers by leasing a 393-megawatt data center located in Texas. Currently, about two-thirds of its company value comes from the data center business. On Tuesday, GLXY closed up over 6% at $29.11, and rose another 3% in pre-market trading to $30.

ChainCatcher news, according to CoinDesk, investment bank Jefferies has gradually developed into an important financial service provider in the field of crypto assets since providing Bitcoin investment advisory services for Strategy (formerly MicroStrategy) in 2019. Data shows that the institution ranked sixth in global investment banking transaction volume over the past 12 months, and has completed a total of 120 fintech and crypto-related transactions amounting to $150 billion since 2015.Jefferies has established a professional advantage in cross-border transactions between traditional finance and the crypto market, with a business scope covering multiple areas including capital markets and mergers and acquisitions. Its representative transactions include assisting Kraken in completing a $1.5 billion acquisition of NinjaTrader, as well as serving as an advisor to the unsecured creditors' committee in the FTX bankruptcy case.

ChainCatcher news, investment bank Jefferies data shows that due to the average price of Bitcoin dropping by 11.2% and transaction fees decreasing by 9.1%, Bitcoin mining profitability fell by 7.4% in March.Jefferies also stated that in March, Bitcoin mining companies listed in the United States mined a total of 3,534 Bitcoins, compared to 3,002 in February.

ChainCatcher news, according to CoinDesk, investment bank Jefferies' latest report shows that driven by Bitcoin's price reaching an all-time high, miners are expected to continue their profitable trend in December. Data indicates that the average Bitcoin price rose by 31% in November, while network hash rate only increased by 4%, with daily revenue per EH/s reaching $55,649, a month-over-month increase of 20.7%.Among them, MARA Holdings ranks first in the industry with a deployed hash rate of 46.1 EH/s, mining 907 Bitcoins in November; CleanSpark ranks second with 33.7 EH/s, producing 622 Bitcoins. U.S.-listed mining companies account for 24.7% of the total network output, and lower winter temperatures help improve equipment operating efficiency.