ChainCatcher news, according to Fortune, after Trump's victory, Tesla's stock price has risen by 31%, with a market value increase of $250 billion. This astonishing surge has prompted some Wall Street figures to issue warnings, as Tesla's current stock price is already 28% higher than the average analyst target price, marking the highest level since the tech stock surge after the pandemic in 2021. As of Tuesday's close, Tesla's price-to-earnings ratio reached 104 times future earnings, far exceeding the median multiples of traditional automakers and the average of 32 times for the "Big Seven" tech giants.Adam Sarhan, founder and CEO of 50 Park Investments, stated that he remains optimistic about Tesla's long-term prospects, but he pointed out that "the market's reaction to Tesla after Trump's victory has been explosive; while the Trump administration may indeed bring some benefits, the current surge seems a bit overheated in the short term.""This rally looks difficult to sustain, even if you believe in the long-term growth story of the stock," said David Wagner, portfolio manager at Aptus Capital Advisors and a long-term investor in Tesla, "the politicization and 'meme-ification' of Tesla's stock price is illogical."

ChainCatcher news, according to Jinshi reports, the pace of U.S. inflation slowdown seems to have lost momentum, which may raise questions about how aggressively the Federal Reserve will cut interest rates early next year. The market expects the U.S. CPI index for October to rise by 0.2% month-on-month, with some on Wall Street predicting a rise of 0.3%, which would match the largest increase in the past six months. Meanwhile, the year-on-year growth rate may rise from 2.4% to 2.6%, marking the first increase in eight months.However, even if the CPI inflation data for October is strong, Wall Street still expects the Federal Reserve to cut rates again at its last meeting of the year in December. But January of next year will be when doubts begin to intensify.

ChainCatcher news, according to sources, Trump plans to narrow down the list of candidates for U.S. Treasury Secretary this week and is inclined to appoint someone with a Wall Street background for the position. The list of Treasury Secretary candidates includes Cantor Fitzgerald CEO Howard Lutnick, hedge fund billionaire John Paulson, former George Soros fund manager Scott Bessent, and Virginia Governor and former Carlyle Group executive Glenn Youngkin.Sources say Bessent met with Trump at Mar-a-Lago on Friday, but this meeting was not an interview for the Treasury position. Insiders revealed that Trump's Wall Street allies are urging him to appoint someone with a deep understanding of the financial industry as Treasury Secretary, and the Trump team has indicated they will follow this advice.Robert Lighthizer, the U.S. Trade Representative during Trump's first term and the architect of the comprehensive tariff proposal, is also a candidate for Treasury Secretary. Those familiar with the matter say Lighthizer has begun formulating tariff plans involving China and the European Union, and he could ultimately hold a broad position in the White House overseeing the government's trade policy.

ChainCatcher news, according to The Information, industry insiders say that investment bankers from top Wall Street firms like JPMorgan, Goldman Sachs, and Morgan Stanley have been meeting with cryptocurrency executives, hoping to gain insights into potential initial public offerings (IPOs) that cryptocurrency companies may pursue after the elections. This enthusiasm reflects optimism about improved market and regulatory conditions following Donald Trump's victory in the U.S. presidential election, which could pave the way for companies like Kraken, Fireblocks, and Chainalysis to go public.It is reported that bankers' interest in the meetings is also different from much of the past two years, during which many investment banks considered the risks associated with cryptocurrency companies too high to engage in business.

ChainCatcher news, according to Caixin, the outcome of the U.S. election, which could significantly impact policy direction, is uncertain, and Wall Street is on high alert. Trading desks will have staff on duty overnight, and teams in Hong Kong and Singapore are arranged to assist. The "Trump trade" of going long on the dollar and shorting bonds may increase positions or be quickly closed out. Some institutions are taking unprecedented measures for this election. A London-based hedge fund has prepared a "world-shocking" computer model for this moment. Some banks are preparing for the risk of social unrest, no matter how distant that risk may seem; if it materializes, it would shake the U.S., the world, and global financial markets. JPMorgan plans to increase staffing in Europe and Asia to handle overnight trading and volatility; Goldman Sachs expects hundreds of sales and trading teams to work late into the night in New York, with more people ready to work from home.Employees across the industry in the U.S. are preparing for overnight work. As Harris and Trump make their final push to rally voters, American society is polarized, and the election is so tightly contested that the financial industry is simulating potential impacts. Currently, the market believes Trump will win. The stock market is rising, and both the dollar and cryptocurrencies are up. Bond yields are climbing. If Harris ultimately wins, the "Trump trade" could quickly reverse, leading to significant market volatility overnight.

ChainCatcher news, Brian, the long-term strategist and head of Wind Shift Capital Advisors, stated that he expects the stock market to experience turbulence over the next 12 months. This is because the Federal Reserve is unlikely to lower interest rates to very low levels as the market believes; borrowing costs may indeed rise from now on. This could suppress lending, slow down investment, and cause U.S. and global stock markets to decline by 7%-12%."I think the crisis we face is that when interest rates start to rise, the government will not be able to continue to boost the economy in a rising interest rate environment because they have already lost the support of the market," Brian said.Brian's prediction may seem counterintuitive for investors who have been pricing in significant rate cuts by the Federal Reserve. However, he stated that the U.S. economy faces too much inflationary pressure in the medium term to guarantee that the Federal Reserve will adopt aggressive easing policies. (Jin Shi)

ChainCatcher news, recently Tether issued a strong statement on its official website criticizing the irresponsible reporting of The Wall Street Journal: "The Wall Street Journal wrote an article with reckless accusations so definitively without any public confirmation from authorities or disclosing sources, which is extremely irresponsible; these stories are purely based on speculation. This report also carelessly obscured Tether's documented extensive cooperation with law enforcement to combat bad actors attempting to misuse Tether and other cryptocurrencies."Previously, The Wall Street Journal reported that Tether might face penalties for doing business with organizations on the U.S. sanctions list.

ChainCatcher news, Morgan Stanley's chief U.S. equity strategist Mike Wilson stated that while some believe a Trump victory would pose a negative factor for economic growth and the stock market, a Harris victory could lead to disappointment on Wall Street. Polls indicate that the likelihood of this scenario occurring is 50%. However, Wilson pointed out the risk of a market decline that could also come with a Trump victory. He said, "In certain market areas, if they are already overcrowded and pricing in upside potential, then the 'sell the news' phenomenon could make them vulnerable." (Jin Ten)

ChainCatcher news, according to Cointelegraph, on October 15, Bitcoin (BTC) price surged to around $68,000 at the opening of Wall Street, challenging an 8-month downtrend. Data shows that BTC rose over 2% that day, approaching the 2021 high of $69,000. Trader and analyst Skew stated that the market structure and trend remain positive. He believes that if BTC can break through $69,000 to set a higher high, it will trigger a broader structural change. Skew also noted that the Relative Strength Index (RSI) remains above 50, which typically indicates a price increase.Another analyst, Rekt Capital, confirmed that Bitcoin has broken through the resistance zone formed by the mid-August high this year. He stated that BTC now needs to achieve a weekly close within the red resistance level to initiate a breakout rally.

ChainCatcher news, several of Wall Street's largest banks expect the Federal Reserve to end its balance sheet reduction process in April next year, which is consistent with their expectations for the Fed in July.A survey conducted by the New York Fed before last month's Federal Reserve interest rate meeting among so-called primary market dealers showed that "most dealers indicated that they expect the end of balance sheet reduction to depend on the level of reserves, overnight reverse repo conditions, or the assessment of upward pressure on money market rates relative to the administered rates."Some dealers stated that macroeconomic factors pose risks to the outlook for ending the balance sheet reduction. "The current size of the Federal Reserve's balance sheet is approximately $7 trillion."

ChainCatcher news, according to The Information, two years ago, the behind-the-scenes giants of the U.S. financial market launched the Wall Street blockchain project "Project Ion." The project aims to revolutionize the way stock trading settlements are conducted using blockchain technology, including cash settlement and obtaining stock certificates.Well-known companies such as JPMorgan and Robinhood were involved, but ultimately the project failed to gain widespread adoption and quietly ended at the end of last year.

ChainCatcher news, according to Cointelegraph, the founder and CEO of stablecoin USDC issuer Circle, Jeremy Allaire, stated that they are advancing their initial public offering (IPO) plans and intend to move their headquarters to Wall Street in 2025.It is reported that Circle applied for an initial public offering (IPO) in January this year and is currently awaiting approval from the U.S. Securities and Exchange Commission.

ChainCatcher news, many analysts on Wall Street still expect that the Federal Reserve's first step towards interest rate cuts will be more cautious. "I hope they cut by 50 basis points, but I suspect they will cut by 25 basis points," said Mark Zandi, chief economist at Moody's Analytics. "They have already completed the tasks of achieving full employment and returning inflation to target, and a fund rate around 5.5% is too high. Therefore, I think they need to quickly normalize rates and have plenty of room to do so.""Jeffries' U.S. economist Tom Simons said, "While the tightening policy seems effective, it hasn't worked out exactly as they imagined, so easing should be viewed as equally uncertain." "Therefore, if you're uncertain, you shouldn't rush." Former Dallas Fed President Kaplan stated, "I guess they have differing opinions." "From a risk management perspective, some committee members just want to be more cautious." Seema Shah, an analyst at Invesco, said that for the Federal Reserve, it ultimately comes down to deciding which risk is greater—if they cut by 50 basis points, it could reignite inflationary pressures, while cutting only by 25 basis points could lead to an economic recession. Criticized for being too slow to respond to the inflation crisis, the Federal Reserve may take a passive approach to the risk of recession rather than a proactive one. (Jin Shi)

ChainCatcher news, according to Bloomberg, so far, crypto-native companies like Coinbase Global Inc. and BitGo Inc. have been the dominant service providers, while traditional financial firms mostly remain in a holding pattern due to concerns over regulatory uncertainty surrounding digital assets.Although the current custody market is only about $300 million, the business remains attractive, with companies like Fireblocks Inc. estimating an annual growth rate of around 30% for the industry.Leading custody banks such as BNY Mellon, State Street Corp., and Citigroup Inc. have begun to dip their toes into the cryptocurrency custody space or have expressed interest. Despite facing setbacks, these companies are experimenting, with many plans focused on the protection of tokenized assets.For example, JPMorgan Chase & Co. operates a project called Onyx, which allows blockchain payments between bank clients. In December last year, a custody trust and clearing company acquired Securrency to provide products for tokenizing traditional financial assets. In August of this year, State Street chose the vendor Taurus for the tokenization and custody of digital asset services.One major issue hindering the entry of established financial institutions is a U.S. SEC regulation known as SAB 121, which prevents highly regulated financial companies from offering cryptocurrency custody services. President Biden vetoed efforts by Congress to overturn the rule. Several banks have received exemptions.

ChainCatcher news, cryptocurrency investment firm 1confirmation has published its Q2 2024 LP letter on social media, in which founder Nick Tomaino stated that Ethereum's market capitalization will surpass Bitcoin's in the next five years. Currently, Bitcoin's market capitalization ($1.2 trillion) is four times that of Ethereum ($321 billion), and both will continue to grow, but Ethereum will ultimately exceed Bitcoin.Nick Tomaino explained that Bitcoin has a clear narrative (digital gold), and institutions have now accepted this narrative. Ethereum has been the most influential blockchain in the crypto space over the past five years, but people (outside the circle) know very little about Ethereum. Ethereum is the chain on which the world's most talented developers are building a decentralized internet, and ETH is the digital oil that powers it. Ethereum is scarce, generates yield, and has real use cases. Given its market capitalization is now significantly smaller than Bitcoin's, Wall Street can acquire more. It is expected that Wall Street will continue to buy in and vigorously promote Ethereum to the world in the coming years.

ChainCatcher news, according to The Wall Street Journal, Federal Reserve Chairman Powell has issued the strongest signal yet for a rate cut, indicating that the Fed intends to take action to prevent further weakening of the U.S. labor market.