Circle drives Coinbase up? Berstein raises COIN price target to $510

Here's the English translation: Coinbase's stock price recently surged nearly 40%, reaching a four-year high. Bernstein listed multiple reasons why Coinbase is undervalued, raising the COIN target price from $310 to $510. After Circle, the US stablecoin giant, went public, its stock price continued to rise, briefly approaching $300. There have also been phenomena of switching to buy COIN or arbitrage trading by selling CRCL and buying COIN. [Rest of the translation follows the same professional and accurate approach, maintaining the specific terminology as instructed] The Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac on Wednesday to consider cryptocurrencies as reserve assets and include them in mortgage loan risk assessment conditions. This immediate federal-level order may allow cryptocurrency holders with insufficient cash to qualify for home loans. FHFA Director William Pulte stated on social media that mortgage companies must be prepared to consider cryptocurrencies as mortgage assets, aligning with Trump's vision of making the US the global cryptocurrency capital. While the order did not specify exactly which cryptocurrencies could be considered assets, the FHFA document emphasized the need for quick implementation.

FHFA points out that cryptocurrency, as an emerging asset class, has the potential to provide wealth accumulation opportunities outside of stock and bond markets. It instructs Fannie Mae and Freddie Mac to be prepared to incorporate cryptocurrencies that comply with regulatory frameworks into reserve assets, conduct risk assessments of crypto assets, and submit them to FHFA for review. The order takes effect immediately, emphasizing swift execution.

Is the Era of Big Short in Housing Subprime Loans Returning?

Michael Burry, the prototype character from the movie "The Big Short", once precisely predicted the inevitable collapse of the US real estate market. In 2008, the US experienced a chain reaction due to housing subprime loans and Lehman Brothers, severely impacting the global real estate industry. At that time, banks loosened lending standards to close housing transactions, providing guarantees to many subprime borrowers with poor credit or without housing purchase conditions. Lehman Brothers even packaged these loans into bond products, which bank financial advisors sold to investors. When secondary market subprime borrowers couldn't pay their housing loans, major US banks faced the risk of unrecoverable bad debts and potential bankruptcy. These "too big to fail" banks could only be saved by government intervention. The US government had the Federal Housing Finance Agency take over the supervision of mortgage companies to rescue banks. Since then, Fannie Mae and Freddie Mac have been directly controlled by the US federal government, providing guarantees for over half of US housing loans, making them key players in housing loans.

With cryptocurrency's extremely high volatility, one wonders how banks and mortgage companies will assess the "value" of this emerging asset. For those without housing, owning crypto assets might provide an opportunity to buy a house, but there's still a significant risk of liquidation and bankruptcy if unable to pay the mortgage.

Thank you, Donald! Should people who can't afford houses be grateful to this former real estate tycoon? Gazing into the distance, deep in thought.