TD Cowen

TD Cowen reduced its Bitcoin price target from $400 to $260 due to a lower forecast but described the new capital framework as 'constructive'.

TD Cowen analyst Jaret Seiberg states that CME has the upper hand in its lawsuit against the CFTC over crypto perpetual futures. He predicts CME may seek a preliminary injunction to block perpetual futures during the legal proceedings.

TD Cowen stated that the future of prediction markets is likely to be determined by the Supreme Court, with states maintaining a strategic advantage. The article highlights that Trump's CFTC post on prediction markets is unlikely to alter the ongoing legal battle over their regulation.

TD Cowen reports that the political environment surrounding the Clarity Act is deteriorating, reducing the likelihood of the crypto bill passing this year. The worsening conditions are making legislative progress more challenging.

TD Cowen has raised its price target on Strategy to $400 due to strong bitcoin accumulation and a shift in financing strategy. The company now holds 843,738 BTC, valued near $64 billion, and is expected to purchase close to 100,000 BTC in the second quarter. This implies a gain of more than 140% from the current share price.

Analysts at TD Cowen predict a significant increase in shares of a Bitcoin-buying strategy, potentially jumping over 139% in 12 months after a $2 billion BTC buy. This forecast indicates a bullish outlook for the company's performance. The substantial price target boost suggests confidence in the strategy's potential.

TD Cowen raises Strategy price target to $400 due to faster bitcoin accumulation and debt repurchases. The company notes accelerating BTC per share growth and $1.5B in accretive debt repurchases. This move indicates a positive outlook for the company's strategy.

Wall Street analysts are increasingly valuing crypto firms as infrastructure, AI and capital markets platforms, with buy ratings on several companies. Analysts at Benchmark, TD Cowen, and Mizuho hold positive views on Bitdeer, Strive, DeFi Technologies, and Gemini. This indicates a growing interest in the crypto industry.

The Crypto market structure bill has passed a Senate committee but still faces significant hurdles, with analysts predicting it will need more Democratic support to pass. TD Cowen has raised the probability of the bill passing to 40% from 33%. Benchmark also commented on the bill's prospects.

TD Cowen has a $16 target on Sharplink due to its favorable setup, including a partnership with Galaxy and a 0.8x NAV discount. The company sees a 106% upside in Sharplink, driven by broadening Ethereum demand. TD Cowen reiterates its positive stance after Q1 earnings.

The Senate Banking Committee is set to vote on the crypto bill, despite objections from banks and Democrats. The vote is scheduled for Thursday. TD Cowen notes that major obstacles remain.

TD Cowen has raised its price target for MSTR to $395 due to a shift towards STRC issuance and an improved BTC Yield outlook for fiscal 2026. The move indicates a positive forecast for the company's performance. This change reflects TD Cowen's updated expectations.

A dispute over stablecoin yield could delay the crypto bill and reduce its chances of passing this year, despite a proposed compromise. TD Cowen believes there is no middle ground in the dispute. The firm's statement suggests uncertainty about the bill's passage.

Senator Thom Tillis has become a potential obstacle for a cryptocurrency bill, stating he will not support it without conflict-of-interest provisions. This stance, reported by TD Cowen, highlights ethical concerns in legislative efforts related to crypto regulation.

TD Cowen has reaffirmed a buy rating for The Smarter Web Company, citing its strengthened position as the UK's only scaled bitcoin treasury vehicle. The firm emphasizes the company's unique role in the UK market for bitcoin treasury vehicles.

TD Cowen highlights five challenges to passing a crypto bill, including insufficient CFTC commissioners, conflicts involving World Liberty Financial, and concerns over Iran's use of cryptocurrency for payments. These issues complicate regulatory efforts beyond stablecoin yield restrictions.

Strategy Inc plans to transition to semi-monthly dividend payouts starting mid-July. TD Cowen highlights the proposed STRC upgrade as a potential shared upside for Strategy and Strive shareholders.