On June 13, Jin10 Data reported that two members of the Morgan Stanley Japan market research team said in a report that the Bank of Japan may decide to reduce the total monthly purchase of Japanese government bonds from 5.7 trillion yen to 5.1 trillion to 5.3 trillion yen at the two-day meeting ending on Friday. The market seems to have digested the market's general expectation that the Bank of Japan will reduce the total monthly purchase of Japanese government bonds. Therefore, unless there are unexpected events in communication, execution, or reinvestment, the Bank of Japan's statement is unlikely to trigger substantial market fluctuations.

Chainlink LINK Leads Top 40 Tokens, Up 10% On Renewed Interest Chainlink (LINK) is the best-performing cryptocurrency among the top 40 coins, with a rise of over 10% in the past day, trading at $18.75. The surge is attributed to Chainlink's collaboration with international payments platform Swift at the Consensys conference. Chainlink has been making progress across different blockchains and was recently used in a tokenization pilot with JP Morgan and BNY Mellon.

Morgan Stanley released a report on May 23rd, stating that Gome Retail (06808.HK) turned from a profit of 1.6 billion yuan to a loss in the past fiscal year. The management pointed out during a conference call that the same-store sales trends and profitability in April and May showed signs of improvement and exceeded their expectations. Therefore, the target for the fiscal year 2025 is to achieve flat or slightly increased same-store sales on an annual basis, maintain stable rental income, and turn the loss into profit. Morgan Stanley has lowered the target price for Gome Retail from HKD 2.8 to HKD 2.5, mainly due to profit adjustment, reaffirming a buy rating, believing that the negative factors have been largely reflected and expecting any turnaround to significantly boost the stock price. If Gome Retail can monetize its self-operated stores, there is potential for the stock price to rise.

Golden Ten Data May 17th News, Greenland Hong Kong (00337.HK) announced on the Hong Kong Stock Exchange that it has appointed Luo Weifeng as an executive director, chairman of the board of directors, chairman of the board nomination committee, and member of the remuneration committee; appointed Li Yongqiang as an executive director and member of the board nomination committee; Chen Jun resigned as an executive director and chairman of the board of directors, no longer serving as chairman of the board nomination committee and member of the remuneration committee, and was appointed as honorary chairman of the board of directors; Hou Guangjun resigned as an executive director and member of the board nomination committee; Dr. Lin Jiali, JP, resigned as an independent non-executive director and member of the board nomination committee, remuneration committee, and audit committee. The above changes to the board of directors will take effect from May 17, 2024.

A number of BitcoinSpot ETF issuer executives revealed that they have been paying attention to the SEC's feedback and are concerned about companies such as Grayscale adopting SEC-approved creation and redemption models. This led to the issuer agreeing to disclose the authorized participants, which was considered an unusual move. In some ETF structures, the fund employs a physical redemption model, allowing investors to exchange shares for underlying securities or commodities to avoid tax penalties. In a meeting with the SEC, Grayscale had advocated for the provision of in-kind and cash creation and redemption models, but ultimately accepted the SEC's cash model requirements. Other companies, such as BlackRock, have also expressed a preference for a cash model. According to sources, Grayscale pushed for a physical redemption at the pre-Christmas meeting, but ultimately compromised with the SEC's demands. Recently, companies looking to list Bitcoin ETFs have announced authorized participants, including Jane Street Capital, JP Morgan Securities LLC, Valkyrie and other big banks. This is considered a matter that the SEC is promoting and is related to the focus of its ongoing conversations. In addition, progress has been made in dealing with issues such as hard forks and airdrops. （The Block）

JP Morgan CEO Jamie Dimon Continues to Oppose Cryptocurrencies, Citing Ties to Criminals JP Morgan Chase CEO Jamie Dimon reiterated his negative stance on cryptocurrencies, stating that he would "close it down" if he were the U.S. government. Dimon believes that crypto is primarily used by criminals for activities such as money laundering and tax avoidance. Despite his criticism, Dimon has acknowledged the potential of blockchain technology and his bank has utilized it for projects like JPM Coin

Since the beginning of the year, traders have been buying shares in the Grayscale Bitcoin Trust that are trading below the potential value of their Bitcoin holdings, most likely in the hope of earning the difference when they convert to a spot Bitcoin ETF. This means that many GBTC traders will look to cash out when their ETFs switch. With this in mind, JP Morgan's analysts looked at the inflows into GBTC since 2023 to calculate the value of shares that could be sold at the time of conversion. They estimate the figure to be around $2.7 billion. JPMorgan Chase's team of analysts, led by Nikolaos Panigirtzoglou, wrote in a note Thursday: "To represent the buying traffic flowing into [the Grayscale Bitcoin Trust] since the beginning of the year, we have accumulated daily signed dollar volumes, which are thousands of shares traded per day multiplied by the price multiplied by the price change sign, which is positive if the price rises on that day and negative if the price falls." "This methodology estimates that the net cumulative flow into [Grayscale Bitcoin Trust] since the beginning of the year is about $2.5 billion. If you add the covering of short interest since the beginning of the year, this figure is close to $2.7 billion," they said. （The Block）

JP Morgan predicts that the BTC network's hashrate could drop by 20% after the next halving event scheduled for April 2024. We estimate that the next halving (April '24) could eliminate as much as 80 EH/s (or 20% of network hashrate) as less efficient hardware is retired, the report said. The report also mentions that based on Bitcoin's current price, the four-year block reward opportunity totals around $20 billion. However, it noted a significant decrease of about 72% compared to more than two years ago, a figure that, for context, peaked at about $73 billion in April '21 and fluctuated between $14 billion and $25 billion over the past year.

Ripple partners with BlackRock and JP Morgan?

Golden Finance reported that analysts at investment bank JPMorgan Chase said that Ethereum’s blockchain is constantly developing, but its latest features may pose stability risks. According to a report released by JPMorgan analysts on Thursday, the previous The Merge and Shanghai upgrades led to "an overall increase in staking activity on the Ethereum network," and one of the main contributors to the increase in staking were liquidity staking providers. With the emergence of these protocols, these protocols "bypassed obstacles such as the high pledge requirement of 32 ETH, technical complexity, and lack of liquidity of pledged Ethereum, allowing ordinary investors to pledge", and later launched a restaking function to allow Users double-collateralize their ETH on different protocols and even chains. But if the value of the pledged assets drops sharply, or if the pledged assets are "hacked or slashed due to malicious attacks or protocol errors," re-staking could result in "a cascade of liquidations."

Golden Finance reported that Chainlink community ambassador ChainLinkGod.eth said on social media, why are banks interested in launching their own private blockchains? This has to do with value and information flowing together in the same layer of the stack. Blockchain is simply a database par excellence for representing assets and instructions on how value flows between participants and their use in financial products encoded in autonomous smart contracts. This may seem simple, but it’s significant when compared to the current state of the fragmented system, with the world’s largest financial institutions such as JP Morgan and ANZ making clear that this is a defining characteristic of tokenized assets. With Chainlink CCIP, these tokenized assets can flow between different private banking blockchains or even public blockchain networks, while ensuring that value and information continue to flow together and that the assets end up in the counterparty’s preferred environment . We will likely see each bank launch its own blockchain, perhaps even multiple blockchains, on which they will tokenize tens of thousands of assets.

According to news on October 4, Tyrone Lobban, head of JPMorgan Chase’s encryption department, told attendees at the CCData Digital Asset Summit in London yesterday that “99.9%” of his conversations with clients are about tokenized forms of traditional financial instruments, while Not cryptocurrency. There is widespread discussion about how to bring traditional assets onto the blockchain, with nearly every global bank, broker-dealer, or asset manager doing something on either a permissioned blockchain or a public blockchain. On the cryptocurrency side, he blamed a recent spate of industry bankruptcies on a cooling of interest, saying "some customers don't necessarily want to get involved right now." Lobban also commented on Bitcoin's recent price stability, saying the world's most popular Cryptocurrencies are “probably more like stablecoins now,” before adding that the days of huge Bitcoin returns may be some time behind us.

According to the Financial Associated Press on October 2, JP Morgan CEO Dimon said that AI is doing most of the equity hedging for us. If artificial intelligence replaces jobs in the company, we hope to be able to redeploy it. When JPMorgan Chase CEO Dimon was asked if interest rates would rise to 7%, he responded "yes."