<p>预测市场已成为加密货币领域最重要的前沿之一，尽管存在争议。曾经是小众平台的领域，现在吸引了主要交易所、风险投资甚至传统金融机构的关注。</p>
<p>随着预测市场逐渐接近加密货币商业模式的核心，Crypto.com 在寻求招聘一名量化交易员以支持内部做市单位的过程中，引发了关于公平性和市场结构的问题，该单位将与其他交易者一起买卖合约。</p>
<p>与此同时，Coinbase 通过收购 The Clearing Company 这一链上预测市场初创公司，表明其对受监管预测市场的长期押注，该公司背后有来自 Kalshi 和 Polymarket 的团队支持。</p>
<p>此外，摩根大通据报道正在探索为机构客户提供加密交易，这突显了数字资产如何继续渗透传统金融，即使像 DWF Labs 这样的加密原生公司通过扩展到实物商品来对冲其风险敞口。</p>
<p><strong>Crypto.com 寻求内部做市商以提供预测市场服务</strong></p>
<p>Crypto.com 已成为最新进入预测市场的加密货币交易所，尽管最近的招聘努力引发了关于市场结构和潜在利益冲突的问题。</p>
<p>根据彭博社的报道，Crypto.com 正在招聘与内部做市台相关的量化交易员，该台将与其他交易者一起买卖预测合约。该职位据称专注于在预测市场结果中提供流动性。</p>
<p>Crypto.com 的一位发言人并未否认该报道，但表示该举措旨在通过增加竞争和流动性来提高市场效率。该公司强调，其内部做市商遵循与外部参与者相同的规则。</p>
<p>这一发展突显了集中交易所对预测市场日益增长的兴趣，尽管在这些新兴交易场所中，关于治理、透明度和公平准入的问题仍然存在。</p>
<p><strong>Coinbase 通过收购 The Clearing Company 扩大预测市场布局</strong></p>
<p>Coinbase 通过收购 The Clearing Company 这一链上预测市场初创公司，进一步加大了对预测市场的投入，该公司背后有来自 Polymarket 和 Kalshi 的高管支持。</p>
<p>Coinbase 告诉 Cointelegraph，该交易预计将在 1 月完成，尽管财务条款未披露。Coinbase Ventures 是 The Clearing Company 的早期投资者，参与了今年早些时候的一轮 1500 万美元的融资。</p>
<p>此次收购与 Coinbase 更广泛的雄心相一致，旨在发展成为高管们所描述的 “全能交易所”，涵盖加密交易、代币化资产、股票交易和预测市场。</p>
<p>在最近的一份报告中，Coinbase 将预测市场视为到 2026 年最重要的增长机会之一，指出用户参与度上升以及监管和税收环境的变化。该公司指出，美国税收政策的拟议变更可能通过限制税收扣除来降低传统赌博的吸引力，从而可能将更多活动引导至受监管的预测平台。</p>
<p><strong>摩根大通据报道考虑为机构客户提供加密交易</strong></p>
<p>摩根大通据报道正在考虑为特定机构客户推出数字资产交易服务，因为这家银行巨头希望在专业投资者日益增长的需求中扩大其产品。</p>
<p>根据彭博社的报道，摩根大通正在其市场部门探索与加密相关的产品和服务，表明其在数字资产方面的参与可能会超越保管和基于区块链的结算倡议。</p>
<p>这一报道的举措正值机构对加密货币的兴趣持续上升，受到美国政治和监管背景变化的支持。特朗普政府已表示对数字资产采取更为宽松的态度，签署了被称为 GENIUS 法案的全面稳定币立法。</p>
<p>如果实施，摩根大通在加密交易方面的扩展将标志着传统金融与数字资产市场之间逐渐融合的又一个里程碑，特别是在机构层面。</p>
<p><strong>DWF Labs 完成实物黄金交易</strong></p>
<p>DWF Labs 已从数字资产扩展到实物商品，完成了一笔 25 公斤黄金交易的结算，此举突显了加密行业内更广泛的多元化推动。</p>
<p>管理合伙人安德烈·格拉切夫表示，该公司将其首笔金条交易作为测试批次进行结算，计划最终扩展到其他实物商品，包括白银、铂金和棉花。该交易并非基于区块链，而是依赖于传统的结算基础设施。</p>
<p>这一举措值得注意，因为越来越多的加密原生公司悄然扩大其业务范围，以包括传统资产，反映出对收入生成和风险管理的更务实的态度。</p>
<p>DWF 的扩展正值黄金在宏观经济不确定性中继续吸引强劲投资需求，而比特币和更广泛的加密市场则在恢复持续动能方面面临挑战。</p>
<p><em>Crypto Biz 是您每周了解区块链和加密背后商业动态的脉搏，每周四直接送达您的邮箱。</em></p>

COIN

<p>预测市场在加密行业中越来越受到关注，主要交易所如 Crypto.com 和 Coinbase 正在扩展这一领域。Crypto.com 正在招聘内部做市团队，这引发了市场公平性的问题。Coinbase 收购了 The Clearing Company，以增强其预测市场的产品。同时，摩根大通正在为机构客户探索加密交易，而 DWF Labs 则在向黄金等实物商品多元化。这些举措突显了数字资产与传统金融的日益融合以及加密市场的不断演变</p>

<p>Prediction markets have emerged as one of the cryptocurrency sector’s most consequential, if not contested, frontiers. Once the domain of niche platforms, they are now attracting serious attention from major exchanges, venture capital and even traditional financial institutions.</p>
<div class="lb-trans"><p>预测市场已成为加密货币领域最重要的前沿之一，尽管存在争议。曾经是小众平台的领域，现在吸引了主要交易所、风险投资甚至传统金融机构的关注。</p>
</div><p>As prediction markets move closer to the core of crypto’s business model, Crypto.com has sparked questions around fairness and market structure after seeking to hire a quantitative trader for an in-house market-making unit that would buy and sell contracts alongside other traders.</p>
<div class="lb-trans"><p>随着预测市场逐渐接近加密货币商业模式的核心，Crypto.com 在寻求招聘一名量化交易员以支持内部做市单位的过程中，引发了关于公平性和市场结构的问题，该单位将与其他交易者一起买卖合约。</p>
</div><p>Meanwhile, Coinbase has signaled a longer-term bet on regulated prediction markets with its acquisition of The Clearing Company, an onchain prediction market startup backed by a team with experience at Kalshi and Polymarket.</p>
<div class="lb-trans"><p>与此同时，Coinbase 通过收购 The Clearing Company 这一链上预测市场初创公司，表明其对受监管预测市场的长期押注，该公司背后有来自 Kalshi 和 Polymarket 的团队支持。</p>
</div><p>Elsewhere, JPMorgan Chase’s reported exploration of crypto trading for institutional clients underscores how digital assets continue to seep into traditional finance, even as crypto-native companies like DWF Labs hedge their exposure by branching into physical commodities.</p>
<div class="lb-trans"><p>此外，摩根大通据报道正在探索为机构客户提供加密交易，这突显了数字资产如何继续渗透传统金融，即使像 DWF Labs 这样的加密原生公司通过扩展到实物商品来对冲其风险敞口。</p>
</div><p><strong>Crypto.com seeks an in-house market maker for prediction market services</strong></p>
<div class="lb-trans"><p><strong>Crypto.com 寻求内部做市商以提供预测市场服务</strong></p>
</div><p>Crypto.com has become the latest cryptocurrency exchange to move into prediction markets, though a recent hiring effort has raised questions about market structure and potential conflicts of interest.</p>
<div class="lb-trans"><p>Crypto.com 已成为最新进入预测市场的加密货币交易所，尽管最近的招聘努力引发了关于市场结构和潜在利益冲突的问题。</p>
</div><p>According to Bloomberg, Crypto.com is recruiting for a quantitative trader role tied to an internal market-making desk that would buy and sell prediction contracts alongside other traders. The position is reportedly focused on providing liquidity across prediction market outcomes.</p>
<div class="lb-trans"><p>根据彭博社的报道，Crypto.com 正在招聘与内部做市台相关的量化交易员，该台将与其他交易者一起买卖预测合约。该职位据称专注于在预测市场结果中提供流动性。</p>
</div><p>A Crypto.com spokesperson did not dispute the report but said the initiative is designed to improve market efficiency by increasing competition and liquidity for users. The company emphasized that its internal market maker operates under the same rules as external participants.</p>
<div class="lb-trans"><p>Crypto.com 的一位发言人并未否认该报道，但表示该举措旨在通过增加竞争和流动性来提高市场效率。该公司强调，其内部做市商遵循与外部参与者相同的规则。</p>
</div><p>The development highlights the growing interest among centralized exchanges in prediction markets, even as questions persist around governance, transparency and fair access in these emerging trading venues.</p>
<div class="lb-trans"><p>这一发展突显了集中交易所对预测市场日益增长的兴趣，尽管在这些新兴交易场所中，关于治理、透明度和公平准入的问题仍然存在。</p>
</div><p><strong>Coinbase expands prediction market push with acquisition of The Clearing Company</strong></p>
<div class="lb-trans"><p><strong>Coinbase 通过收购 The Clearing Company 扩大预测市场布局</strong></p>
</div><p>Coinbase is deepening its push into prediction markets with the acquisition of The Clearing Company, an onchain prediction market startup backed by executives with experience at Polymarket and Kalshi.</p>
<div class="lb-trans"><p>Coinbase 通过收购 The Clearing Company 这一链上预测市场初创公司，进一步加大了对预测市场的投入，该公司背后有来自 Polymarket 和 Kalshi 的高管支持。</p>
</div><p>Coinbase told Cointelegraph that the transaction is expected to close in January, though financial terms were not disclosed. Coinbase Ventures was an early investor in The Clearing Company, participating in a $15 million funding round earlier this year.</p>
<div class="lb-trans"><p>Coinbase 告诉 Cointelegraph，该交易预计将在 1 月完成，尽管财务条款未披露。Coinbase Ventures 是 The Clearing Company 的早期投资者，参与了今年早些时候的一轮 1500 万美元的融资。</p>
</div><p>The acquisition aligns with Coinbase’s broader ambition to evolve into what executives have described as an “everything exchange,” encompassing crypto trading, tokenized assets, stock trading and prediction markets.</p>
<div class="lb-trans"><p>此次收购与 Coinbase 更广泛的雄心相一致，旨在发展成为高管们所描述的 “全能交易所”，涵盖加密交易、代币化资产、股票交易和预测市场。</p>
</div><p>In a recent report, Coinbase identified prediction markets as one of the most significant growth opportunities heading into 2026, citing rising user engagement and a shifting regulatory and tax landscape. The company noted that proposed changes in US tax policy could reduce the attractiveness of traditional gambling by limiting tax deductions, potentially steering more activity toward regulated prediction platforms.</p>
<div class="lb-trans"><p>在最近的一份报告中，Coinbase 将预测市场视为到 2026 年最重要的增长机会之一，指出用户参与度上升以及监管和税收环境的变化。该公司指出，美国税收政策的拟议变更可能通过限制税收扣除来降低传统赌博的吸引力，从而可能将更多活动引导至受监管的预测平台。</p>
</div><p><strong>JPMorgan reportedly considers crypto trading for institutional clients</strong></p>
<div class="lb-trans"><p><strong>摩根大通据报道考虑为机构客户提供加密交易</strong></p>
</div><p>JPMorgan Chase is reportedly weighing the launch of digital asset trading services for select institutional clients, as the banking giant looks to expand its offerings amid growing demand from professional investors.</p>
<div class="lb-trans"><p>摩根大通据报道正在考虑为特定机构客户推出数字资产交易服务，因为这家银行巨头希望在专业投资者日益增长的需求中扩大其产品。</p>
</div><p>According to Bloomberg, JPMorgan is exploring crypto-related products and services within its markets division, signaling a potential deepening of its engagement with digital assets beyond custody and blockchain-based settlement initiatives.</p>
<div class="lb-trans"><p>根据彭博社的报道，摩根大通正在其市场部门探索与加密相关的产品和服务，表明其在数字资产方面的参与可能会超越保管和基于区块链的结算倡议。</p>
</div><p>The reported move comes as institutional interest in crypto continues to build, supported by a shifting political and regulatory backdrop in the United States. The Trump administration has signaled a more accommodative stance toward digital assets, having signed into law comprehensive stablecoin legislation known as the GENIUS Act.</p>
<div class="lb-trans"><p>这一报道的举措正值机构对加密货币的兴趣持续上升，受到美国政治和监管背景变化的支持。特朗普政府已表示对数字资产采取更为宽松的态度，签署了被称为 GENIUS 法案的全面稳定币立法。</p>
</div><p>If implemented, JPMorgan’s expansion into crypto trading would mark another milestone in the gradual convergence between traditional finance and digital asset markets, particularly at the institutional level.</p>
<div class="lb-trans"><p>如果实施，摩根大通在加密交易方面的扩展将标志着传统金融与数字资产市场之间逐渐融合的又一个里程碑，特别是在机构层面。</p>
</div><p><strong>DWF Labs settles physical gold</strong></p>
<div class="lb-trans"><p><strong>DWF Labs 完成实物黄金交易</strong></p>
</div><p>DWF Labs has expanded beyond digital assets into physical commodities, completing the settlement of a 25-kilogram gold transaction in a move that underscores a broader push toward diversification within the crypto sector.</p>
<div class="lb-trans"><p>DWF Labs 已从数字资产扩展到实物商品，完成了一笔 25 公斤黄金交易的结算，此举突显了加密行业内更广泛的多元化推动。</p>
</div><p>Managing partner Andrei Grachev said the company settled its first bullion trade as a test tranche, with plans to eventually scale into other physical commodities, including silver, platinum and cotton. The transaction was not blockchain-based and instead relied on conventional settlement infrastructure.</p>
<div class="lb-trans"><p>管理合伙人安德烈·格拉切夫表示，该公司将其首笔金条交易作为测试批次进行结算，计划最终扩展到其他实物商品，包括白银、铂金和棉花。该交易并非基于区块链，而是依赖于传统的结算基础设施。</p>
</div><p>The move is notable as an increasing number of crypto-native companies quietly broaden their operations to include traditional assets, reflecting a more pragmatic approach to revenue generation and risk management.</p>
<div class="lb-trans"><p>这一举措值得注意，因为越来越多的加密原生公司悄然扩大其业务范围，以包括传统资产，反映出对收入生成和风险管理的更务实的态度。</p>
</div><p>DWF’s expansion comes at a time when gold continues to attract strong investor demand amid macroeconomic uncertainty, while Bitcoin and the broader crypto market have struggled to regain sustained momentum.</p>
<div class="lb-trans"><p>DWF 的扩展正值黄金在宏观经济不确定性中继续吸引强劲投资需求，而比特币和更广泛的加密市场则在恢复持续动能方面面临挑战。</p>
</div><p><em>Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.</em></p>
<div class="lb-trans"><p><em>Crypto Biz 是您每周了解区块链和加密背后商业动态的脉搏，每周四直接送达您的邮箱。</em></p>
</div>

Crypto Biz: Exchanges place their bets on prediction markets

- 预测市场在加密货币领域受到重视，吸引传统金融机构关注。  
- Crypto.com 招聘量化交易员以提升市场流动性，但引发市场结构与公平性问题。  
- Coinbase 收购预测市场初创公司，显示其对这一领域的长期战略布局。

加密业务：交易所将赌注押在预测市场上