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On this week’s episode of Macro Markets, Cryptox analyst and writer Marcel Pechman explores the United States debt downgrade by Fitch Ratings. According to Pechman, this change signaled diminished confidence in the U.S. government’s ability to handle its fiscal responsibilities.The downgrade nudged investors into a cautious stance, leading many to
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The benchmark measured environmental, social and governance risks for and opportunities of digital assets, taking into account a range of metrics including decentralization, energy consumption, community engagement. Then, the points for each metric were aggregated and weighted for an overall score of maximum 100 points, making up the final grade
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The Wall Street brokerage said it was becoming increasingly worried about the fairness of crypto enforcement actions in the U.S. Source
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Credit rating agency Moody's, has recently downgraded its outlook on the entire US banking system from "stable" to "negative." The move comes in light of recent bank failures of Silicon Valley Bank, Silvergate Bank, and Signature Bank, which has prompted regulators to intervene with a rescue plan for impacted depositors
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JPMorgan cut its recommendation on the stock to "Underweight" from "Neutral" and withdrew its price target. Source
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D.A. Davidson analyst Chris Brendler downgraded Coinbase (COIN) to neutral from buy after a more than doubling in the stock in 2023 sent the price surging past his $55 price target. Source
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“We believe FTX’s bankruptcy in November has severely hit the crypto industry’s perceived credibility, causing a lack of retail engagement,” S&P wrote. “As a result, trading volumes across exchanges, including Coinbase, have declined sharply.” Source
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Shrinking crypto deposits by $8 billion to $10 billion and replacing them with wholesale borrowings costing around 4.25% will drive a significant reset in net interest margin in the coming quarters, said Usdin. While management plans to pay down some borrowings with core deposit growth, it will take some time
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One of the largest publicly listed bitcoin miners, Core Scientific, has shaken investors with a recent filing with the U.S. Securities and Exchange Commission that raises the possibility the company may apply for bankruptcy protection. The filing notes that Core Scientific will be unable to pay down debt payments due
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