智通财经APP获悉，1月7日，Wind发布2025年度美股承销排行榜。2025年，美股股权融资市场在宏观预期逐步明朗的背景下延续修 复趋势，一级市场活跃度较前期明显回升，股权融资数量和融资规模均创下近四年新高。根据Wind数据统计，2025年美股市场股权 融资(包含IPO与再融资)规模总计2,018亿美元，较2024年1,766亿美元增加252亿美元，增幅14.27%。 IPO方面，2025年共403家企业成功上市，较2024年增加131家；融资金额总计684亿美元，较2024年增长67.95%；其中，募资规模 最大的是Medline，募资总额达62.65亿美元。SPAC方面，2025年IPO融资家数为123家，较2024年增加72家；融资金额总计234亿美 元，较2024年大幅上升153.75%。中概股方面，2025年赴美IPO的公司以中小型企业为主导，总计上市68家，较2024年增加7家；融 资金额总计仅11亿美元，较2024年减少62.88%。 再融资方面，2025年再融资事件数为912起，较2024年增加21起；再融资规模总计1,334亿美元，较2024年减少1.82%。 从承销维度来看，IPO方面， ...

整体来看，上周美股IPO市场"SPAC成主流，传统IPO诞募资王"。 12月15日-21日，美股市场迎来9家新上市公司，合计募资15.6亿美元，上市活动呈现明显SPAC主导特 征。其中7家通过SPAC方式上市，关注领域覆盖科技、国防、人工智能、区块链等多个热门赛道；另有 2家IPO，医疗保健巨头MedlineInc以62.65亿美元（未计绿鞋机制）募资成为今年美股最大IPO，专业服 务机构AndersenGroup（前安达信高管创立）同步登陆。 ...

🔥Most Influential: @carlosdomingoThe Securitize CEO ground through the uncool years of tokenization while NFTs, FTX and memecoins soaked up the hype. With billions in tokenized assets, a SPAC listing in the works and BlackRock as a flagship client and backer.@sndr_krisztian reports. ...

Securitize hires former PayPal executive as general counsel ahead of taking company public via SPAC https://t.co/gFfdwYTnO5 ...

Core Viewpoint - The Chinese capital market is entering a new historical stage characterized by clear policy signals emphasizing stability and strength, with a focus on inclusivity, adaptability, and the coordination of financing and investment functions as key elements for high-quality development [1][5]. Group 1: Inclusivity - Market vitality is predicated on inclusivity, which manifests in both the financing and investment sides [1][7]. - The establishment of the Sci-Tech Innovation Board and the Beijing Stock Exchange, along with the promotion of the registration system reform, aims to enhance the inclusivity of the financing side, allowing more hard-tech and specialized enterprises to access capital [7]. - On the investment side, a diverse range of market participants, from venture capital to individual investors, is essential for maintaining market resilience, requiring a fair and transparent market environment [2][7]. Group 2: Adaptability - The adaptability of capital market systems is crucial in an era of rapid technological change and blurred industry boundaries, necessitating dynamic adjustments and iterative mechanisms [2][8]. - Traditional regulatory and valuation frameworks need updates to accommodate emerging fields such as data assets, artificial intelligence, and green energy [8]. - Recent enhancements in regulatory technology, information disclosure systems, and delisting regulations reflect efforts to improve adaptability [3][8]. Group 3: Coordination of Financing and Investment Functions - Effective operation of the capital market relies on a positive cycle between financing and investment functions, avoiding an overemphasis on either side [3][9]. - Sustainable market balance is achieved when investors trust that their investments can drive corporate growth and yield returns, ensuring continuous capital flow [9]. - The core of this coordination is investor protection, which serves as a lubricant and stabilizer for sustainable market functions [9]. Group 4: Investor Protection - The concept of investor protection is evolving from merely preventing risks to promoting value sharing, emphasizing the need for investors to participate in corporate growth and share in value creation [4][9]. - Measures to enhance investor protection include strengthening dividend constraints, improving governance transparency, and refining institutional investor behavior standards [4][9]. - The ongoing reform of the capital market is a long-term endeavor, with each optimization contributing to market maturity and supporting China's economic transition [5][10].

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Financial Valuation - Enhanced Games 的支持者在 SPAC 交易后获得了 12 亿美元的估值 [1] Risk Assessment - 行业认为对于这样一个高风险的概念，12 亿美元的估值显得过高 [1]

Overview - Bloomberg Crypto covers decentralized finance topics, including people, transactions, and technology [1] Guests and Content - The segment features Dynamix CEO Andrejka Bernatova, Hyperion DeFi CEO Hyunsu Jung, and Bloomberg's Baily Lipschultz [1] Platforms and Resources - Bloomberg provides business news, market data, features, and profiles on its website [1] - Bloomberg has a presence on various social media platforms, including X, Facebook, Instagram, TikTok, Reddit, and LinkedIn [1] - Bloomberg offers additional content through Bloomberg Radio, Bloomberg Surveillance, Bloomberg Politics, and Bloomberg Originals [1] - Bloomberg has multiple YouTube channels, including Bloomberg Technology, Bloomberg Originals, Bloomberg Quicktake, and Bloomberg Espanol [1] - Bloomberg also produces podcasts [1]

Federal Reserve Policy & Leadership - Kevin Hassett 被认为是下任美联储主席的热门人选，他与特朗普总统在经济和货币政策上的观点一致[1][3] - 市场预期 Hassett 可能会推动更快的降息，导致两年期国债收益率下降至 346% 左右，十年期国债收益率低于 4%[33][80] - Hassett 的任命可能会导致美联储内部出现分歧，影响 2026 年及以后的货币政策[38] - 现任美联储主席 Jerome Powell 的任期到 2026 年 5 月结束，但特朗普总统可能希望尽快任命 Hassett [10][11] Market & Economic Outlook - 市场普遍认为，美联储的独立性至关重要，但特朗普政府希望确保所有利率都降低[17][18] - 经济数据喜忧参半，零售销售数据略有疲软，但信用卡追踪数据显示 10 月份有所回升，整体经济表现良好[23] - 预计 12 月或 1 月可能会降息 25 个基点，但 2026 年初的财政刺激可能会给通胀带来上行压力，导致美联储暂停降息[21][25][27] - 劳动力市场正在放缓，但财政刺激可能会稳定劳动力市场，并可能给就业带来上行压力[28][30] Crypto & SPACs - 讨论了加密货币领域的 SPACS（特殊目的收购公司）与数字资产 Treasury 公司的合并，类似于“Turducken”结构[46][48][49] - 几家 SPAC 公司正在与加密货币公司合作，但比特币价格自历史高位下跌 30%，可能影响投资者对这些交易的看法[50][52] - 以太坊的价格自 8 月份高点下跌约 40%，但 Dynamo 仍然看好以太坊的长期发展，并认为其在人工智能发展中扮演重要角色[57][58][62] - Hyperion DEFI 的股价自 7 月份以来下跌了约 75%，该公司正在通过构建新的收入来源来应对数字资产跟踪公司面临的挑战[65][66]

Today in Bloomberg Deals: SPACs stuffed with crypto, BHP walks away from Anglo again and Syngenta considers a Hong Kong IPO. https://t.co/KkHEcSrpuZ ...