Goldman Sachs raises earnings forecasts for crypto-related firms amid market rebound

Goldman Sachs raised earnings forecasts and price targets for brokerage and crypto-related companies after the crypto market cap rose 34% in Q3. While trading volumes remain below the previous quarter, growth in custody, staking, and stablecoin revenue driven by higher market valuations prompted the upward revisions. The firm maintains a cautious outlook due to lingering regulatory risks and muted retail activity, despite signs of a rebound in August.