（来源：吴说） 区块链分析公司 Elliptic 发布报告称，5 家与俄罗斯相关的加密交易所正协助规避国际制裁，多数尚未 被列入制裁名单。除已被美国财政部海外资产控制办公室（OFAC）制裁的 Bitpapa 外，ABCeX、 Exmo、Rapira、Aifory Pro 等平台仍为俄方提供资金通道。报告称，ABCeX 在莫斯科 Federation Tower 办公，累计处理至少 110 亿美元加密交易；Exmo 虽称 2022 年退出俄罗斯市场，但链上数据显示其与 Exmo me 共享托管钱包基础设施，并与 Garantex、Grinex、Chatex 等受制裁实体存在约 1950 万美元直 接交易。（The Block） ...

来源：市场资讯 （来源：吴说） 吴说获悉，Robinhood 公布 2025 年 Q4 财报：营收 12.8 亿美元（低于预期 13.5 亿美元），同比 +27%；调整后 EBITDA 为 7.61 亿美元（低于预期 8.33 亿美元），同比 +24%；加密收入 2.21 亿美元， 同比 -38%；交易型收入 7.76 亿美元，同比 +15%；当季净利润 6.05 亿美元，运营费用 6.33 亿美元（同 比 +38%），调整后运营费用（含 SBC）5.97 亿美元（同比 +18%），现金及等价物 43 亿美元。 ...

Core Insights - Hyperliquid is projected to add approximately 609,700 new users in 2025, with a total trading volume of around $2.95 trillion and 198.9 billion transactions [1] - The company's annual revenue is estimated to be about $844 million, with a net inflow of $3.87 billion and a current Total Value Locked (TVL) of approximately $4.15 billion [1]

Core Insights - OKX, a cryptocurrency exchange, reported a 53-fold increase in trading volume in regulated markets by 2025, driven by its entry into the U.S. market and expansion in the European Economic Area (EEA) [1] Group 1: Market Performance - The number of daily active wallets on the platform doubled over the past year [1] - The average daily addition of new wallets is approximately 190,000 [1] - Decentralized exchange (DEX) trading volume globally increased by 262% [1] - Centralized exchange (CEX) trading volume grew by 16% [1]

来源：市场资讯 （来源：吴说） 吴说获悉，据 uwusanauwu 数据面板，随着今年竞争对手逐渐增多以及空投预期驱动，Hyperliquid 交易 量市场份额已从 2 月中旬的超过 66% 下降至当前约 16.7%。目前 Lighter 和 Aster 的交易量市场份额均 超过 Hyperliquid。 ...

Core Insights - Robinhood reported Q3 2025 net revenue of $1.27 billion, exceeding market expectations and representing a 100% year-over-year growth [1] - GAAP earnings per share reached $0.61, marking a 259% increase compared to the previous year [1] - Total trading-related revenue amounted to $730 million, with cryptocurrency trading revenue at $268 million, showing over 300% growth year-over-year [1] Revenue Breakdown - Options trading revenue was $304 million, reflecting a 50% increase [1] - Stock trading revenue reached $86 million, up 132% year-over-year [1] - Adjusted EBITDA stood at $742 million [1] Asset and User Metrics - Total assets on the platform reached $333 billion, a 119% increase year-over-year [1] - Active investment accounts numbered 27.9 million [1]

Core Viewpoint - The cryptocurrency trading platform Bullish experienced a decline of nearly 3% in early trading on September 19, following a significant increase of 20.7% in the previous trading day [1] Group 1 - Bullish's stock price dropped nearly 3% in early trading on September 19 [1] - The previous trading day saw Bullish's stock rise by 20.7% [1]

Core Insights - Bullish (BLSH) reported its first quarterly earnings post-IPO, with Q2 earnings per share at $0.93, significantly exceeding market expectations of $0.03 [1] - Adjusted revenue for the company in Q2 was $57 million, slightly below the market forecast of $60.7 million [1] - The trading volume for the company in Q2 reached $179.6 billion, showing substantial growth compared to the same period last year [1] - The company anticipates that adjusted EBITDA for Q3 will rise to between $25 million and $28 million, a considerable increase from Q2's $8.1 million [1]

Group 1 - The core point of the article is that the cryptocurrency trading platform Bullish has gained over 4% in early trading after receiving the New York BitLicense, which will allow the company to expand into the U.S. market [1]