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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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Coinbase will be “acutely pressured in the near-term” as its retail customer base trades less frequently in the bear market, but the company has staying power due to its healthy balance sheet with over $5 billion in cash, it's proactive approach to regulatory compliance, prudent risk management and its legitimacy
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Rich Handler made multiple attempts to meet with the FTX CEO, who he feared would go from rescuer to rescuee. Original Source
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MicroStrategy has been a “visionary” on BTC and has established itself as a “thought leader” in the industry, the note said, adding that management has increased leverage on its balance sheet and issued new shares for more bitcoin investment. Management is expected to provide an update on the company’s intent
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Two former Jefferies Financial Group executives are set to launch a new cryptocurrency exchange designed for institutional investors. Named Crossover Markets Group Inc. the exchange is set to debut in “late summer to early fall” following the closure of a recent seed funding round.The Crossover Markets’ website describes the new exchange
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The executive order appears to be broadly supportive of the digital asset industry and seeks to put the U.S. “ahead of the curve” as crypto becomes a more important part of the global economy, said Jefferies analyst Jonathan Peterson in a note to clients. Source
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The convergence of the digital and physical worlds is taking shape, with non-fungible tokens (NFTs) allowing brands to expand their reach into “digitally-enabled experiential tie-ins,” investment bank Jefferies said in an analyst note.The bank raised its NFT market-cap forecast to more than $35 billion for 2022 and to over $80
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When bitcoin prices continue to drop, smaller miners with higher electricity costs often reduce their operations, which will probably help publicly listed North American miners pick up “meaningful” market share, analyst Jonathan Petersen said in a note. Original Source
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