美银证券发表研究报告，将Coinbase的投资评级由"中性"上调至"买入"，维持目标价为340美元不变。该 行指出，虽然其股价已自去年7月的高位回落约40%，但在去年第四季加密货币调整的表象之下，公司 的产品开发速度实际上有所加快，总目标市场亦同步扩大，看好Coinbase正锐意发展成"全能交易所"， 并向现有用户交叉销售更多产品的目标。该行又指，Coinbase股份估值变得更便宜，而空头的做空兴趣 却提升，目前沽空比率按年翻倍，而其市盈率估值倍数则较去年7月至10月下降约40%。 ...

Cryptocurrencies closing out a tough end to the year and NEM sees the action taking a toll on crypto exchanges in the new year. The firm slashed its price targets on Coinbase, Robin Hood, E Toro and Gemini, though it did maintain buy ratings on all of those stocks. Joining us now, John Teddoro.He's senior analyst at Needm and Company. John, as we enter a new year, I mean, I know you have something called your crypto euphoria needed diagram. What is it showing when it comes to sentiment.What's that mean for ...

花旗将加密货币交易平台Gemini Space Station的目标价从16美元下调至13美元，维持"中性"评级。(格隆 汇) 【资料图】 ...

智通财经APP获悉，据知情人士透露，摩根大通(JPM.US)正考虑向机构客户提供加密货币交易服务，此 举凸显华尔街银行在数字资产领域的参与度日益提升。 据相关报道披露，摩根大通正在对其市场业务进行全面评估，旨在探索能够推出的服务类型，从而进一 步扩大自身在加密货币市场的影响力，这些服务范围或许会涵盖现货交易以及衍生品交易等多个领域。 不过，目前相关努力尚处于初步探索阶段，具体计划的制定将取决于市场是否有足够的需求来支撑任何 一款特定产品的推出。 相比之下，其竞争对手摩根士丹利(MS.US)则计划通过与数字资产基础设施提供商 Zerohash 合作，于 2026 年上半年起在其 E*Trade 平台提供加密货币交易服务。 此外，摩根大通在区块链领域亦颇为活跃。本月早些时候，该行在 Solana 区块链上为 Galaxy Digital 成 功安排了一笔短期债券发行。 据了解，近期，摩根大通在加密货币领域动作不断，其首席执行官戴蒙对加密货币的态度转变耐人寻 味。此前，戴蒙就已暗示对加密货币的态度有所软化。 在该行五月份的投资者日上，戴蒙虽重申了对加密货币"系统中的杠杆作用""滥用""恐怖主义"等方面的 担忧，但同 ...

据彭博社，摩根大通正在考虑向机构客户提供加密货币交易服务。据知情人士透露，摩根大通的市场部 门正在评估可提供哪些产品与服务，以扩大其在加密市场的布局，可能包括现货交易与衍生品交易。该 人士表示，相关计划仍处于早期阶段，属于非公开内容。 （来源：吴说） ...

Core Insights - Coinbase stock is currently trading within a support zone of $237.90 to $262.94, where it has historically rebounded, achieving an average peak return of 38.7% after four instances of buying interest at this level [2] Financial Performance - Coinbase's Q3 2025 results showed strong revenue and profits, enhancing its financial position [4] - The company reported a revenue growth of 48.6% over the last twelve months (LTM) and an average growth of 23.3% over the past three years [10] - The free cash flow margin is approximately 25.8%, and the operating margin is 27.0% LTM [10] Market Conditions and Strategic Moves - The strategic entry into tokenized stocks and prediction markets starting December 17 aims to diversify revenue beyond volatile spot trading [4] - Analyst consensus leans towards a "Buy" rating, indicating considerable upside potential despite recent downgrades and revenue concerns for Q4 [4] Valuation and Risks - Coinbase stock trades at a price-to-earnings (PE) multiple of 30.1, reflecting varied valuation indicators [10] - The stock is susceptible to sharp sell-offs, having previously declined 91% during the Inflation Shock, highlighting its vulnerability during market upheavals [6]

在周三登陆香港交易所之前，当地最大持牌加密货币交易所运营商HashKey Holdings Ltd．的股票在暗 盘市场波动。 在凯基证券运营的平台上，该股在6.1港元-7.3港元之间波动。 在凯基证券运营的平台上，该股在6.1港元-7.3港元之间波动。 该股发行价为每股6.68港元，筹资规模16亿港元（2.06亿美元）。 注：HashKey据悉将香港IPO价格定在接近区间上限 筹集资金16亿港元。 责任编辑：郭明煜 在周三登陆香港交易所之前，当地最大持牌加密货币交易所运营商HashKey Holdings Ltd．的股票在暗 盘市场波动。 该股发行价为每股6.68港元，筹资规模16亿港元（2.06亿美元）。 注：HashKey据悉将香港IPO价格定在接近区间上限 筹集资金16亿港元。 责任编辑：郭明煜 ...

Core Viewpoint - Guotai Junan International (01788) has seen a significant decline of over 63% from its year-to-date high of HKD 7.02, currently trading at HKD 2.59, reflecting a drop of 4.78% as of the latest report [1] Group 1: Company Performance - Guotai Junan International's stock price fell to a low of HKD 2.57, with a trading volume of HKD 153 million [1] - The company had previously announced on August 28 that it would launch cryptocurrency trading services for Hong Kong investors, aiming to meet the growing demand in the cryptocurrency market [1] Group 2: Regulatory Environment - On November 28, the People's Bank of China held a meeting emphasizing that virtual currencies do not have the same legal status as fiat currencies and should not circulate in the market [1] - The meeting highlighted that activities related to virtual currencies are considered illegal financial activities, and stablecoins currently do not meet requirements for customer identity verification and anti-money laundering [1] - Concerns were raised regarding the potential use of stablecoins for money laundering, fundraising fraud, and illegal cross-border fund transfers [1]

据悉，国泰君安国际8月28日公告，国泰海通集团下属公司国泰君安国际控股有限公司宣布正式为香港 投资者推出加密货币交易服务，旨在满足香港投资者对加密货币市场日益成长的需求。公告称，客户成 功开通加密货币账户后，可立即交易包括比特币、以太币等不同的加密货币。 消息面上，11月28日，中国人民银行召开打击虚拟货币交易炒作工作协调机制会议。会议强调，虚拟货 币不具有与法定货币等同的法律地位，不具有法偿性，不应且不能作为货币在市场上流通使用，虚拟货 币相关业务活动属于非法金融活动；针对稳定币，会议明确指出，目前稳定币无法有效满足客户身份识 别、反洗钱等方面的要求，存在被用于洗钱、集资诈骗、违规跨境转移资金等非法活动的风险。 智通财经APP获悉，国泰君安国际(01788)再跌超5%，低见2.57港元，较年内高点7.02港元已跌超63%。 截至发稿，跌4.78%，报2.59港元，成交额1.53亿港元。 ...

Core Viewpoint - HashKey Holdings Ltd., the largest licensed virtual asset exchange in Hong Kong, is seeking to raise up to HKD 1.67 billion (USD 215 million) through an initial public offering (IPO) [1][3]. Group 1: IPO Details - The company announced it will issue 240.6 million shares at a price range of HKD 5.95 to HKD 6.95 per share [1][3]. - If priced at the upper limit, HashKey's valuation will reach approximately HKD 19 billion [1][3]. - The subscription period for investors is from Tuesday to Friday, with the stock expected to be listed on December 17 [1][3]. Group 2: Industry Context - This IPO represents a critical test for Hong Kong's ambition to establish itself as a regional digital asset hub [1][3]. - It is among the last batch of companies driving a surge in IPO activity this year, with the total IPO financing in Hong Kong expected to reach a four-year high [1][3]. Group 3: Company Background - HashKey is one of the first cryptocurrency exchanges to receive a license following the introduction of a dedicated digital asset regulatory framework in Hong Kong in 2022 [1][3]. - The company's business includes cryptocurrency trading, venture capital, and asset management [1][3]. - Proceeds from the IPO will be used for technology and infrastructure upgrades, talent recruitment, and enhancing risk control [1][3]. Group 4: Underwriters - JPMorgan and Guotai Junan are serving as joint sponsors for this transaction [2][4].