Jefferies
Bitcoin Mining Was Significantly Less Profitable in August, Jefferies Says
September could be another difficult month for the miners as bitcoin remains under $60K and the network hashrate continues to rise, the report said.
Sen. Schumer Says U.S. Crypto Bill Can Happen This Year; ZynCoin's New Physical Collectible
"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as Senate Majority Leader Chuck Schumer said at the Crypto4Harris event that U.S. crypto legislation can happen this year. Plus, Jefferies releases a research report on profitability of bitcoin mining and ZynCoin is launching a physical collectible for the $ZYN community called "Comfy."
Bitcoin Mining Was Less Profitable in July Than June, Jefferies Says
U.S.-listed mining companies produced a larger share of bitcoin in July than the previous month as they brought on new capacity faster than the network hashrate rose, the report said.
Bitcoin's Future Could be Tied to the Outcome of the U.S. Election: Jefferies
Trump’s policy shift towards crypto is very recent, but it may impact the price of bitcoin in the near term depending on who wins the U.S. election in November, the report said.
Bitcoin Mining Profitability Rose in June as Market Adjusted for the Halving: Jefferies
U.S.-listed mining companies produced a greater share of bitcoin in June than May as they brought on new capacity while the network hashrate dropped, the report said.
DOJ, SEC Reportedly Probe Crypto Conglomerate DCG; Jefferies Downgrades Marathon Digital
Officials with the U.S. Department of Justice's Eastern District of New York and the SEC are examining transfers between Digital Currency Group (DCG) and the conglomerate's Genesis subsidiary, according to Bloomberg. DCG is the parent company of CoinDesk. Plus, Jefferies downgraded its rating for bitcoin miner Marathon Digital Holdings (MARA) from "buy" to "hold" due to construction delays.
Metropolitan Bank to End Crypto-Related Services
Metropolitan Commercial Bank is to end crypto-related services because of "recent developments" in the digital asset industry. Meanwhile, Jefferies downgraded Signature Bank from buy to hold as its crypto businesses shrink. "The Hash" panel discusses how the FTX contagion will impact the banks that have expanded into crypto.
Jefferies' Wood Cuts Gold Exposure in Favor of New Position in Bitcoin
Christopher Wood, global head of equity strategy at investment firm Jefferies, cut his exposure to gold for the first time in years in favor of bitcoin.
Ex-SoFI CEO's Startup Closes $1 Billion Credit Line on a Blockchain
Figure Technologies, founded by former SoFi CEO Mike Cagney, has closed a $1 billion “uncommitted” line of credit on a blockchain.
Block.one Appoints Former Jefferies Asia CEO to Lead VC Arm
Block.one, the company behind the EOS blockchain, has just hired a former Jefferies Group LLC executive to lead its $1 billion venture capital arm.
