Aug 22, 2025
CFB Talks Digital Assets Episode 48: John Todaro on Wall Street’s Crypto Embrace: IPOs, Treasuries & Regulatory Clarity
The digital asset industry is growing at breakneck speed. A surge in crypto IPOs, the rise of corporate digital asset treasuries, and an expanding pipeline of deals are reshaping the market. Now, with the Clarity Act promising regulatory certainty, the pace of institutional engagement is accelerating like never before.
In this episode of CFB Talks Digital Assets, we’re joined by John Todaro, Managing Director of Crypto, HPC/AI Research at Needham & Co, for a wide-ranging conversation on the latest trends shaping the market in 2025.
A few highlights from the discussion:
- Why Needham chose to launch dedicated crypto coverage back in 2021 and what they’re tracking now
- The red-hot crypto equity and IPO market: are valuations too hot, or is this simply the release of pent-up demand?
- Inside the wave of corporate digital asset treasuries: from BTC and ETH adoption to systemic risks that could emerge
- The Clarity Act: what the new regulatory framework means for institutional participation and M&A in the space
For those watching the intersection of traditional finance and digital assets, this episode is essential listening. Join hosts Gabriel Selby, Mark Pilipczuk and Ken Odeluga as they unpack these topics with one of Wall Street’s leading crypto analysts.
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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.
Note: Some of the underlying instruments cited within this material may be restricted to certain customer categories in certain jurisdictions.
Weekly Index Highlights, December 22, 2025
Crypto's year-end tape remained selective last week, with BTC up 0.9%, while other high-beta majors slipped. The Infrastructure Sub-Category was a major loser in our CF DACS taxonomy, -10.4%, while implied volatility firmed as realized cooled; and our USDT funding rate measure reset above 10%.
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