格隆汇1月2日｜Coinbase首席执行官Brian Armstrong在X平台表示，2026年的首要任务是在全球范围内 发展全能交易平台(涵盖加密货币、股票、预测市场、大宗商品)；扩展稳定币和支付业务；通过 Coinbase Developer Platform、Base和Base App将世界带入链上；还将大力投资于产品质量和自动化，以 支持上述各项工作。 ...

吴说获悉，Coinbase CEO Brian Armstrong 发推表示，Coinbase 在 2026 年的重点包括：在全球范围内拓 展覆盖加密资产、股票、大宗商品的一站式交易所，支持现货、期货和期权；扩大稳定币与支付业务； 并通过 Coinbase 开发者平台、Base 链及 Base App 推动更多用户上链。他同时表示，公司将加大对产品 质量和底层自动化的投入。 （来源：吴说） ...

Coinbase is pushing back against efforts to limit interest on stablecoins in the United States, warning that such restrictions could end up helping China. The warning comes as lawmakers debate how to enforce the GENIUS Act, which became law in July and introduced a new set of rules for stablecoins. The timing is especially important, with China getting ready to let users earn interest on its own digital currency starting early next year. How U.S. Stablecoin Interest Rules Are Taking Shape Currently, the ...

BaLL LunLa / Shutterstock.com Quick Read CONY’s weekly dividends collapsed 82% from peak levels as Coinbase stock fell 49% from its $444.64 high. The fund holds deeply underwater short put positions at $390 strike with COIN trading at $226. Total returns are negative 30% over one year despite 56% yield. A recent study identified one single habit that doubled Americans’ retirement savings and moved retirement from dream, to reality. Read more here. YieldMax COIN Option Income Strategy ETF (NYSE ...

Core Viewpoint - YieldMax COIN Option Income Strategy ETF (NYSE:CONY) generates high-yield distributions through an options strategy on Coinbase Global (NASDAQ:COIN) stock, with an annualized yield approaching 56% but facing sustainability concerns due to Coinbase's volatility and the fund's complex options strategy [1] Group 1: Yield Generation Mechanism - CONY's income is derived from option premium collection based on Coinbase stock volatility, holding long and short option positions, including COIN call options at $390 and $310 strikes expiring December 2025, alongside Treasury bills [2] - The fund maintains short put positions representing 23.3% of its portfolio at a $390 strike, which are currently deeply underwater, creating substantial risk [2] Group 2: Dividend History and Variability - Dividend history shows extreme variability, with CONY paying $2.79 per share in April 2024 when Coinbase was near its 52-week high of $444.64, but by November 2025, weekly dividends shrank to $0.06 as COIN fell 49% [4] - A modest recovery in December 2025 saw payments averaging $0.50 weekly, which remains 82% below peak levels, and a 1-for-10 reverse split was executed, indicating management concern about the depressed share price [4] Group 3: Coinbase's Volatility Impact - Coinbase's extreme volatility, with a beta of 3.69, drives CONY's option premiums, as COIN moves nearly four times more than the broader market, creating rich option premiums during volatile periods [5] - Despite strong Q3 2025 results with $1.87 billion in revenue and $433 million in net income, COIN has declined 49% from its 52-week high, impacting option premiums and CONY's dividend payments [5] Group 4: Total Return Analysis - While CONY's 56% yield appears attractive, the ETF has fallen 30% over the past year, declining from $55.93 to $39.35, leading to a 26% capital loss for investors who purchased at the beginning of 2025 [6] - The fund's 1.22% expense ratio further erodes returns, and the short put positions at $390 strike prices represent significant downside risk if assigned, potentially leading to massive losses [7] Group 5: Alternative Investment Options - Investors seeking similar high-yield option income strategies may consider YieldMax TSLA Option Income Strategy ETF (NYSE:TSLY), which applies the same covered call methodology to Tesla stock, offering greater liquidity and a lower expense ratio [8] - TSLY has declined 15% over the past year compared to CONY's 30% loss, indicating relatively better capital preservation, with Tesla's diversified revenue streams providing potentially more stable volatility patterns for option premium generation [9]

吴说获悉，针对社区用户对 Coinbase 在产品方向上落后于 Robinhood 的质疑，Coinbase CEO Brian Armstrong 回应称，Coinbase 最新的产品更新已在零售端覆盖 Robinhood 所做的功能，并将在规模上更 进一步，包括支持更多加密资产、在美国推出类似永续合约的期货产品，同时整合股票等交易功能；他 同时表示，Base App 是一项独立的前沿探索，侧重于社交交易，与 Coinbase 主应用定位不同，并向社 区征询对 Coinbase 主 App 未来功能改进的建议。 （来源：吴说） ...

Core Insights - The main drivers of global crypto adoption in 2026 will be crypto ETFs, stablecoins, tokenization, and clearer regulation [1][2][4] Group 1: Crypto ETFs - Spot crypto ETFs launched in 2025 are seen as a structural turning point, providing traditional investors with a regulated framework for investing in Bitcoin, Ethereum, and other assets [4] - Approval timelines for ETFs are expected to shorten in 2026, further enhancing market access [4] Group 2: Digital Asset Treasuries (DATs) - Digital asset treasuries are emerging as a new trend where corporations hold crypto exposure through regulated vehicles, normalizing the asset class on corporate balance sheets [5][6] - This trend complements the growth of crypto ETFs and is expected to gain momentum in 2026 [5] Group 3: Stablecoins - Stablecoins currently facilitate trillions of dollars in transactions annually across exchanges and DeFi, despite having a market cap of only a few hundred billion dollars [5][6] - As regulatory frameworks solidify, stablecoins are anticipated to play a larger role in delivery-versus-payment structures and cross-border commerce [6] Group 4: Tokenization - The tokenization of real-world assets (RWAs) remains relatively small, valued in the low single-digit billions, but adoption is increasing as financial institutions explore blockchain for collateral and settlement [7]

Group 1 - Coinbase Global Inc. is considered one of the best NASDAQ stocks to buy in 2026, despite a price target reduction from $400 to $290 by Needham analyst John Todaro, who maintains a Buy rating on the shares [1][2] - The company announced its acquisition of The Clearing Company to enhance its platform's expansion into prediction markets and equities trading, aiming to establish itself as an "Everything Exchange" [2][3] - The Clearing Company has applied for CFTC approval to operate as a registered clearinghouse, utilizing digital ledger technology for trade clearing and settlement with stablecoins, which is essential for the high-frequency nature of prediction markets [3] Group 2 - Coinbase operates a platform for crypto assets, providing a primary financial account for consumers, a brokerage platform for institutions, and a suite of products for developers to build on-chain [4]

Core Insights - The cryptocurrency industry is expected to experience significant growth by 2025, driven by multiple factors that will further accelerate adoption in 2026, including crypto ETFs, stablecoins, asset tokenization, and clearer regulatory frameworks [1] Group 1: Growth Drivers - The approval cycle for ETFs is anticipated to shorten, enhancing the role of stablecoins in DvP settlements and leading to broader recognition of tokenized collateral [1] - The trend of clearer global regulations is shifting cryptocurrency from a niche market to a component of global financial infrastructure [1] Group 2: Market Dynamics - Demand for cryptocurrency is evolving beyond a single narrative, now influenced by macroeconomic conditions, technology, and geopolitical factors [1] - The market is gradually transitioning towards more long-term and strategic capital participation [1]

Crypto adoption is set to accelerate in 2026 as momentum from exchange-traded funds (ETFs), stablecoins, tokenization and clearer regulation begins to reinforce itself, according to Coinbase’s head of investment research, David Duong. Key Takeaways: Coinbase expects ETFs, stablecoins and tokenization to reinforce each other and drive faster crypto adoption in 2026. Global crypto adoption has stabilized, signaling market maturity rather than stalled growth. Clearer regulation in the US and Europe is e ...