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Jefferies
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.
