吴说获悉，Coinbase Markets 表示，zkPass（ZKP）现货交易将于 2025 年 12 月 19 日上线，ZKP-USD 交易对在满足流动性条件后于支持交易的地区开放。 （来源：吴说） ...

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NEW YORK--(BUSINESS WIRE)--Klarna, the global digital bank and flexible payments provider, has partnered with Coinbase to add stablecoin funding to its broad range of traditional sources of funding, which include consumer deposits, long-term loans and short-dated commercial paper. The digital bank plans to raise short-term funding from institutional investors denominated in USDC utilizing Coinbase's digitally native infrastructure. Adding a USDC-denominated funding source enables Klarna to acce. ...

Core Viewpoint - Coinbase is challenging the authority of state gambling laws by filing lawsuits against Connecticut, Illinois, and Michigan, asserting that federally regulated prediction markets should fall under the jurisdiction of the CFTC rather than state regulations [1][2][3]. Group 1: Legal Actions - Coinbase has initiated lawsuits in three U.S. states to seek federal protection for its prediction markets, arguing that these markets are financial derivatives rather than gambling products [2][3]. - The lawsuits request federal judges to affirm that prediction markets on a CFTC-regulated platform are governed by the Commodity Exchange Act (CEA) and not by individual state gambling codes [3][4]. Group 2: Federalism Argument - Coinbase's legal filings present the issue as both structural and statutory, claiming that allowing states to independently regulate prediction markets could undermine the federal system by enabling the most restrictive state laws to dictate national rules [4]. - The company references the Commodity Exchange Act, which broadly defines "commodity" and excludes only a few specific items, arguing that the absence of exclusions for sports or politics indicates Congress intended for such event contracts to be federally regulated [4]. Group 3: Distinction from Traditional Gambling - Coinbase's chief legal officer emphasizes the difference between its prediction markets and traditional sportsbooks, stating that while casinos profit from customer losses, prediction markets serve as neutral platforms that match buyers and sellers without bias towards outcomes [5].

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Trade now ↓https://t.co/FLfPWhwpnyLegal stuff:Listed futures and swaps are offered via Coinbase Financial Markets (“CFM”), a NFA member firm. Trading futures involves substantial risk and may result in the loss of your entire investment. Leverage in futures trading can work for or against you. Trade only if you understand the product and believe it is appropriate for your financial situation and objectives. For informational purposes only. Not investment advice or a recommendation. ...

Group 1 - The core viewpoint of the article highlights a collective surge in cryptocurrency-related stocks in the US market, indicating a positive trend in this sector [1] Group 2 - Specific companies such as 灿谷 (Canaan), 嘉楠科技 (Ebang), and Strategy saw their stock prices increase by over 6%, 6%, and 4% respectively [1] - Other notable performers included 聪链集团 (ChainUp) with a rise of over 4%, Circle with an increase of over 3%, and 第九城市 (The9) with a gain of over 2% [1] - Coinbase experienced a nearly 2% increase in its stock price, contributing to the overall positive sentiment in the cryptocurrency market [1]

Core Viewpoint - The stock market is witnessing an increase in trading options for investors, particularly with the expansion of platforms like Coinbase that allow trading of both cryptocurrencies and U.S.-based stocks using stablecoins [1][3]. Group 1: Coinbase's Market Position - Coinbase Global is the largest U.S. cryptocurrency exchange, offering over 275 digital assets and 340 trading pairs on its platform [4]. - The company has more than $516 billion in assets on its platform, with a quarterly trading volume of $295 billion [4]. - Coinbase has a market capitalization of $64.5 billion, but its stock has declined by 2.5% this year, contrasting with the S&P 500's increase of over 15% [5]. Group 2: Financial Performance - Coinbase reported a strong third-quarter earnings performance, with net income reaching $432.6 million, a significant increase from $75.5 million a year ago [7]. - Earnings per share were $1.50, compared to $0.28 per share a year ago, surpassing analysts' expectations of $1.10 per share [7]. Group 3: Valuation Metrics - The price-to-earnings (P/E) ratio for Coinbase is currently at 20.7, down from over 60 earlier this year, indicating a significant decrease in valuation [6]. - The price-to-sales (P/S) ratio stands at 7.6, which is lower than its three-year median of 9.5, suggesting that the stock may be undervalued compared to its historical performance [6].

In the 2021 and 2022 Bitcoin bull market, ASIC-backed loans – a form of debt secured by bitcoin mining computers – were all the rage for the U.S.’s burgeoning bitcoin mining sector. But when bitcoin prices took a turn for the worse, and drug bitcoin mining revenue down with it, many of these loans soured, with debtors defaulting and creditors seizing and running ASICs to pay back the loans. Fast forward to 2025, and now, Coinbase’s (NASDAQ: COIN) independent subsidiary Coinbase Asset Management is reimag ...

Core Viewpoint - Bitcoin's long-term investment thesis is transitioning from speculation to being recognized as a store of value, with projections suggesting it could reach $1.4 million by 2035 [1][4]. Store-Of-Value Model Drives $1.4 Million Target - Analysts from CF Benchmarks propose that Bitcoin will gradually assume part of gold's role as a store of value, supported by a framework that includes comparative valuation, production costs, and sensitivity to monetary liquidity [2]. - The current market for store-of-value assets is approximately $30 trillion, with gold being the predominant asset [2]. Market Capitalization Scenarios - Analysts modeled scenarios where Bitcoin captures between 17% and 33% of gold's market capitalization by 2035 [3]. Price Target and Returns - A probability-weighted analysis yields a base-case price target for Bitcoin of around $1.42 million, indicating potential annualized returns of about 30% [4]. Production Costs and Price Support - The report emphasizes rising production costs as a factor supporting Bitcoin's price over time, treating it similarly to a commodity like gold [6]. - Current estimates suggest it costs between $40,000 and $50,000 to mine one Bitcoin, with production becoming increasingly challenging due to halving events and rising mining difficulty [6]. Liquidity and Volatility Trends - Bitcoin's price is closely correlated with the global M2 money supply, which influences investment availability; typically, Bitcoin's price rises following increases in M2 [8]. - The report notes a trend of decreasing price volatility, with expectations that it will fall to around 28% by 2035, down from previous triple-digit levels [11]. Institutional Participation - Increased liquidity and institutional involvement are contributing to the reduction in volatility, with even small allocations to Bitcoin potentially enhancing portfolio returns [12]. Broader Industry Perspectives - Other industry leaders, including Coinbase's CEO and BitMEX co-founder, have echoed similar bullish projections for Bitcoin, with targets reaching $1 million by 2030 [13][14]. - The macroeconomic environment is seen as favorable for Bitcoin, with expanding liquidity and rising institutional comfort with digital assets [16]. Current Market Context - Bitcoin is currently approximately 30% below its all-time high of nearly $126,000, indicating a significant gap between long-term projections and the current market situation [17].