Citi's Top Crypto Stock Picks: Galaxy, Gemini Upgrades and Circle's $243 Target

On this episode of CoinDesk's Public Keys, broadcast from the New York Stock Exchange, host Jennifer Sanasie is joined by Peter Christiansen, Director of Digital Assets Equity Research at Citi. Christiansen explains why the bank is turning more bullish on crypto equities ahead of Q3 earnings and walks through the reasoning behind its ratings changes, including upgrades of Galaxy and Gemini and a downgrade of Securitize. The discussion also covers the MSCI index-exclusion threat facing Strategy and why Circle stands out as Christiansen's top pick with a $243 price target. The conversation offers a detailed look at how a major bank's equity research team is positioning around digital-asset stocks heading into earnings season. Later, Bart Smith, CEO of Avalanche Treasury Co., joins the show. The episode combines Citi's institutional equity research perspective with insights from a treasury-company executive, giving viewers a rounded view of where crypto equities and digital-asset treasuries may be headed.