<p>根据《金融时报》最近的一份报告，Coinbase 交易所面临失去主导地位的风险，因为白宫对加密货币的热情导致了 “竞争加剧”。</p>
<p>Bitwise 的 Ryan Rasmussen 向《金融时报》表示，美国这家交易巨头可能正在失去其先发优势。</p>
<p><strong>Coinbase 的股票下跌</strong></p>
<p>从 Coinbase 的股票表现来看，你可能无法察觉这一点。根据 U.Today 的报道，在 7 月，该公司的股票首次创下自 2021 年首次公开募股以来的新高。</p>
<p>自历史最高点 444 美元以来，股票经历了大约 33% 的回调。不过，自年初以来，股票仍上涨了 25%，比 2024 年的低点上涨了 178%。</p>
<p>由于第二季度的收益表现不佳，股票面临一定压力。</p>
<p><strong>竞争加剧</strong></p>
<p>根据多位分析师的说法，由于新的加密友好型美国规则，激烈的竞争对 Coinbase 构成了严峻挑战。</p>
<p>除了面临来自亚洲交易所的交易领域竞争加剧外，Coinbase 的托管业务也受到像 BNY Mellon 这样的传统金融机构的威胁。</p>
<p>不过，一些行业参与者认为，更多的竞争实际上将是一个积极的发展，因为仅有一个主要的托管机构将是有风险的。</p>

COIN

2 倍做多 COIN ETF - GraniteShares

南方两倍做空Coinbase

<p>根据《金融时报》的报道，Coinbase 正面临日益激烈的竞争，这可能威胁到其市场主导地位。分析师指出，美国新的加密友好型法规正在加剧竞争，特别是来自亚洲交易所和传统金融公司如 BNY Mellon 的竞争。尽管最近股价表现下滑，从高点回落了 33%，但 Coinbase 的股票今年迄今仍上涨了 25%。一些行业专家认为，竞争加剧最终可能有利于市场，减少对单一主要保管人的依赖</p>

<p>According to a recent report by the Financial Times, the Coinbase exchange is at risk of losing its dominance due to the White House's enthusiasm for crypto, which has enabled &#34;mounting competition.&#34;</p>
<div class="lb-trans"><p>根据《金融时报》最近的一份报告，Coinbase 交易所面临失去主导地位的风险，因为白宫对加密货币的热情导致了 “竞争加剧”。</p>
</div><p>Bitwise's Ryan Rasmussen has told the FT that the US exchange giant might be losing its head start.</p>
<div class="lb-trans"><p>Bitwise 的 Ryan Rasmussen 向《金融时报》表示，美国这家交易巨头可能正在失去其先发优势。</p>
</div><p><strong>Coinbase's stock stumbles</strong></p>
<div class="lb-trans"><p><strong>Coinbase 的股票下跌</strong></p>
</div><p>You would not be able to tell this based on Coinbase's stock performance. In July, as reported by U.Today, the company's shares hit a new record high for the first time since its initial public offering in 2021.</p>
<div class="lb-trans"><p>从 Coinbase 的股票表现来看，你可能无法察觉这一点。根据 U.Today 的报道，在 7 月，该公司的股票首次创下自 2021 年首次公开募股以来的新高。</p>
</div><p>The stock has suffered a roughly 33% correction since the all-time peak of $444. That said, it is still up by 25% since the start of the year, and up 178% from its 2024 low.</p>
<div class="lb-trans"><p>自历史最高点 444 美元以来，股票经历了大约 33% 的回调。不过，自年初以来，股票仍上涨了 25%，比 2024 年的低点上涨了 178%。</p>
</div><p>The stock is under some pressure due to underwhelming earnings recorded during the second quarter of the year.</p>
<div class="lb-trans"><p>由于第二季度的收益表现不佳，股票面临一定压力。</p>
</div><p><strong>Growing competition</strong></p>
<div class="lb-trans"><p><strong>竞争加剧</strong></p>
</div><p>Intense competition, which is possible because of new crypto-friendly US rules, poses an acute challenge to Coinbase, according to various analysts.</p>
<div class="lb-trans"><p>根据多位分析师的说法，由于新的加密友好型美国规则，激烈的竞争对 Coinbase 构成了严峻挑战。</p>
</div><p>On top of facing increasing rivalry in the trading sector from Asian exchanges, Coinbase's custodian business is also being threatened by traditional finance players of the likes of BNY Mellon.</p>
<div class="lb-trans"><p>除了面临来自亚洲交易所的交易领域竞争加剧外，Coinbase 的托管业务也受到像 BNY Mellon 这样的传统金融机构的威胁。</p>
</div><p>That said, some industry participants believe that more competition will actually be a positive development since having just one major custodian would be risky.</p>
<div class="lb-trans"><p>不过，一些行业参与者认为，更多的竞争实际上将是一个积极的发展，因为仅有一个主要的托管机构将是有风险的。</p>
</div>

Coinbase Might Lose Its Dominance as Competition Heats Up

- Coinbase 可能因白宫对加密货币的支持而失去市场主导地位。  
- 该公司股票自 2021 年上市以来首次创下新高，但近期回调约 33%。  
- 新的加密友好政策加剧竞争，传统金融机构也对其保管业务构成威胁。  

随着竞争加剧，Coinbase 可能会失去其主导地位