{"id":6448,"date":"2026-02-25T12:55:16","date_gmt":"2026-02-25T04:55:16","guid":{"rendered":"https:\/\/www.dm-yq.com\/?p=6448"},"modified":"2026-02-25T12:55:16","modified_gmt":"2026-02-25T04:55:16","slug":"%e4%b8%80%e8%a7%88-6-%e5%a4%a7%e5%8a%a0%e5%af%86%e5%b8%81%e6%9c%ba%e6%9e%84%e7%9a%84%e3%80%8c%e6%9c%9f%e4%b8%ad%e6%88%90%e7%bb%a9%e5%8d%95%e3%80%8d%ef%bc%9astrategy-%e8%b1%aa%e8%b5%9a%e7%99%be","status":"publish","type":"post","link":"https:\/\/www.dm-yq.com\/?p=6448","title":{"rendered":"\u4e00\u89c8 6 \u5927\u52a0\u5bc6\u5e01\u673a\u6784\u7684\u300c\u671f\u4e2d\u6210\u7ee9\u5355\u300d\uff1aStrategy \u8c6a\u8d5a\u767e\u4ebf\uff0cCoinbase \u9760\u6295\u8d44\u6551\u573a"},"content":{"rendered":"

\u52a0\u5bc6\u8d27\u5e01\u8d22\u62a5\u5b63\u6765\u88ad\uff0c\u5404\u5927\u673a\u6784\u7eb7\u7eb7\u4ea4\u51fa\u4e86 2025 \u5e74\u7684\u300c\u671f\u4e2d\u8003\u6210\u7ee9\u5355\u300d\uff0c\u672c\u6587\u5c06\u68b3\u7406 Strategy\u3001Tether\u3001Coinbase\u3001Robinhood\u3001Kraken \u4e0e Riot Platforms \u7b49\u4ee3\u8868\u6027\u673a\u6784\u7684\u6700\u65b0\u8d22\u52a1\u8868\u73b0\u4e0e\u7b56\u7565\u52a8\u5411\u3002
\n
<\/p>\n

\u4f5c\u8005\uff1aNancy\uff0cPANews<\/p>\n

\u52a0\u5bc6\u8d27\u5e01\u8d22\u62a5\u5b63\u6765\u88ad\uff0c\u5404\u5927\u673a\u6784\u7eb7\u7eb7\u4ea4\u51fa\u4e86 2025 \u5e74\u7684\u300c\u671f\u4e2d\u8003\u6210\u7ee9\u5355\u300d\uff0c\u6709\u7684\u4f9d\u9760\u5e10\u9762\u8d44\u4ea7\u4f30\u503c\u66b4\u6da8\u5b9e\u73b0\u5229\u6da6\u98d9\u5347\uff0c\u6709\u7684\u5219\u5728\u6838\u5fc3\u4e1a\u52a1\u653e\u7f13\u4e2d\u82e6\u5bfb\u8f6c\u578b\u51fa\u8def\uff0c\u884c\u4e1a\u6b63\u9010\u6b65\u4ece\u5355\u4e00\u6536\u5165\u4f9d\u8d56\u5411\u591a\u5143\u8d44\u4ea7\u548c\u7efc\u5408\u91d1\u878d\u670d\u52a1\u8f6c\u578b\u3002\u672c\u6587 PANews \u5c06\u68b3\u7406\u52a0\u5bc6\u6982\u5ff5\u4e0a\u5e02\u516c\u53f8\u6216\u4e3b\u52a8\u516c\u5f00\u4e8c\u5b63\u5ea6\u8d22\u52a1\u62a5\u544a\u7684\u673a\u6784 Strategy \u3001 Tether \u3001 Coinbase \u3001 Robinhood \u3001 Kraken \u4e0e Riot Platforms \u7b49\u4ee3\u8868\u6027\u673a\u6784\u7684\u6700\u65b0\u8d22\u52a1\u8868\u73b0\u4e0e\u7b56\u7565\u52a8\u5411\u3002<\/p>\n

\"\"\u516d\u5bb6\u52a0\u5bc6\u673a\u6784 2025 \u5e74 Q2 \u8d22\u52a1\u72b6\u51b5\u4e00\u89c8
\nStrategy\uff1a\u9760\u6bd4\u7279\u5e01\u8d5a\u53d6\u767e\u4ebf\u7f8e\u5143\u51c0\u5229\u6da6\uff0c\u8ba1\u5212\u7ee7\u7eed\u91cd\u91d1\u589e\u6301<\/p>\n

Strategy \u7b2c\u4e8c\u5b63\u8425\u6536\u8fbe 140.3 \u4ebf\u7f8e\u5143\uff0c\u5e74\u6bd4\u5927\u5e45\u6210\u957f 7106.4%\uff0c\u9884\u8ba1\u5168\u5e74\u8425\u6536\u5c06\u8fbe\u5230 340 \u4ebf\u7f8e\u5143\uff0c\u5e76\u9884\u6d4b\u5168\u5e74\u7a00\u91ca\u540e\u6bcf\u80a1\u76c8\u4f59\uff08EPS\uff09\u5c06\u5347\u81f3 80 \u7f8e\u5143\u3002<\/p>\n

\u5b63\u5ea6\u8425\u6536\u7684\u5927\u5e45\u6210\u957f\uff0c\u51e0\u4e4e\u5168\u90e8\u7531\u6bd4\u7279\u5e01\u8d44\u4ea7\u7684\u672a\u5b9e\u73b0\u516c\u5141\u4ef7\u503c\u6536\u76ca\u6784\u6210\uff0c\u8be5\u9879\u6536\u76ca\u8fbe 140 \u4ebf\u7f8e\u5143\uff0c\u5360\u5b63\u5ea6\u8425\u6536\u7684\u7edd\u5927\u90e8\u5206\u3002\u8fd9\u662f Strategy \u81ea 2025 \u5e74\u521d\u91c7\u7528\u516c\u5141\u4ef7\u503c\u4f1a\u8ba1\u51c6\u5219\u4ee5\u6765\u7684\u7b2c\u4e8c\u5b63\u3002\u76f8\u8f83\u4e4b\u4e0b\uff0c\u8be5\u516c\u53f8\u4f20\u7edf\u4e3b\u8425\u7684\u8f6f\u4f53\u4e1a\u52a1\u5728\u672c\u5b63\u4ec5\u5b9e\u73b0\u8425\u6536 1.145 \u4ebf\u7f8e\u5143\uff0c\u4ec5\u5360\u603b\u8425\u6536\u7684\u7ea6 0.8% \u3002<\/p>\n

\u540c\u65f6\uff0cStrategy \u7b2c\u4e8c\u5b63\u7684\u83b7\u5229\u80fd\u529b\u8dc3\u5347\uff0c\u51c0\u5229\u9ad8\u8fbe 100.2 \u4ebf\u7f8e\u5143\uff0c\u4e0e 2024 \u5e74\u540c\u671f\u51c0\u4e8f\u635f 1.026 \u4ebf\u7f8e\u5143\u5f62\u6210\u9c9c\u660e\u5bf9\u6bd4\uff0c\u9884\u8ba1 2025 \u5168\u5e74\u51c0\u5229\u8fbe 240 \u4ebf\u7f8e\u5143\u3002<\/p>\n

\u622a\u81f3 2025 \u5e74 7 \u6708\u5e95\uff0cStrategy \u7684\u6bd4\u7279\u5e01\u6301\u80a1\u5df2\u589e\u81f3 628,791 \u679a\uff0c\u5176\u4e2d\u7b2c\u4e8c\u5b63\u65b0\u589e\u4e86 88,109 \u679a\uff0c\u6301\u4ed3\u603b\u6210\u672c\u8fbe 460.7 \u4ebf\u7f8e\u5143\uff0c\u5e73\u5747\u6bcf\u679a\u6bd4\u7279\u5e01\u6210\u672c\u4e3a 73,277 \u7f8e\u5143\u3002 \u5e74\u521d\u81f3\u4eca\u5176\u6bd4\u7279\u5e01\u6536\u76ca\u7387\uff08BTC Yield\uff09\u8fbe 25%\uff0c\u5df2\u63d0\u524d\u5b8c\u6210\u5168\u5e74\u539f\u5b9a\u76ee\u6807\uff0c\u5e76\u5c06\u76ee\u6807\u4e0a\u8c03\u81f3 30% \u3002\u4e3a\u8fdb\u4e00\u6b65\u6269\u5145\u6bd4\u7279\u5e01\u8d44\u4ea7\uff0cStrategy \u4e5f\u5ba3\u5e03\u5c06\u900f\u8fc7\u53d1\u884c STRC \u6c38\u7eed\u4f18\u5148\u80a1\u7b79\u8d44 42 \u4ebf\u7f8e\u5143\u7528\u4e8e\u7ee7\u7eed\u589e\u6301\u6bd4\u7279\u5e01<\/p>\n

Coinbase\uff1a\u6838\u5fc3\u4e1a\u52a1\u75b2\u8f6f\uff0c\u6295\u8d44\u6536\u76ca\u6491\u8d77\u51c0\u5229\u6da6<\/p>\n

2025 \u5e74 Q2\uff0cCoinbase \u5b9e\u73b0\u603b\u6536\u5165 14.97 \u4ebf\u7f8e\u5143\uff0c\u5b63\u51cf 26% \u3002\u5176\u4e2d\uff0c\u672c\u5b63\u4ea4\u6613\u6536\u5165\u8fbe 7.64 \u4ebf\u7f8e\u5143\uff0c\u5b63\u51cf 39%\uff1b\u8ba2\u9605\u4e0e\u670d\u52a1\u6536\u5165\u8fbe 6.56 \u4ebf\u7f8e\u5143\uff0c\u5b63\u51cf 6% \u3002 Coinbase \u5c06\u8425\u6536\u4e0b\u6ed1\u5f52\u56e0\u4e8e\u52a0\u5bc6\u5e02\u573a\u6ce2\u52a8\u6027\u964d\u4f4e\u3001\u7a33\u5b9a\u5e01\u4ea4\u6613\u5bf9\u5b9a\u4ef7\u7b56\u7565\u8c03\u6574\u4ee5\u53ca\u5168\u5e73\u53f0\u4ea4\u6613\u6d3b\u52a8\u51cf\u5c11\uff0c\u5176\u603b\u4ea4\u6613\u91cf\u5728\u672c\u5b63\u4e3a 2,370 \u4ebf\u7f8e\u5143\uff0c\u8f83\u4e0a\u5b63\u4e0b\u964d 40% \u3002<\/p>\n

\"\"<\/p>\n

\u800c Coinbase \u5728\u672c\u5b63\u7684\u51c0\u5229\u8fbe 14.29 \u4ebf\u7f8e\u5143\uff0c\u8fdc\u8d85\u8fc7\u53bb\u5e74\u540c\u671f\u7684 3,600 \u4e07\u7f8e\u5143\u3002\u8fd9\u9879\u83b7\u5229\u6210\u957f\u4e3b\u8981\u5f97\u76ca\u4e8e Circle \u6295\u8d44\u5e26\u6765\u7684 15 \u4ebf\u7f8e\u5143\u6536\u76ca\uff0c\u4ee5\u53ca\u52a0\u5bc6\u6295\u8d44\u7ec4\u5408 3.62 \u4ebf\u7f8e\u5143\u7684\u672a\u5b9e\u73b0\u589e\u503c\u3002\u7136\u800c\uff0c\u5148\u524d\u7684\u7528\u6237\u8d44\u6599\u5916\u6cc4\u4e8b\u4ef6\u9020\u6210 Coinbase \u635f\u5931 3.08 \u4ebf\u7f8e\u5143\uff0c\u63a8\u9ad8\u4e86\u603b\u8425\u8fd0\u8d39\u7528\u81f3 15 \u4ebf\u7f8e\u5143\uff08\u5b63\u589e 15%\uff09\uff0c\u5bf9\u51c0\u5229\u5f62\u6210\u660e\u663e\u538b\u529b\u3002\u800c\u5728\u5254\u9664\u7b56\u7565\u6027\u6295\u8d44\u548c\u52a0\u5bc6\u8d44\u4ea7\u6295\u8d44\u6536\u76ca\u540e\uff0c\u8c03\u6574\u540e\u51c0\u6536\u5165\u4ec5 3,300 \u4e07\u7f8e\u5143\uff0c\u4e5f\u663e\u793a\u5176\u6838\u5fc3\u4ea4\u6613\u4e1a\u52a1\u5df2\u9677\u5165\u6210\u957f\u56f0\u5883\u3002<\/p>\n

\u9762\u5bf9\u6b64\u56f0\u5c40\uff0cCoinbase \u6b63\u79ef\u6781\u63a8\u52a8\u7b56\u7565\u8f6c\u578b\uff0c\u5176\u4ea7\u54c1\u526f\u603b\u88c1 Max Branzburg \u5ba3\u5e03\u62d3\u5c55\u4ea4\u6613\u54c1\u7c7b\uff0c\u65b0\u4ea7\u54c1\u5305\u62ec\u4ee3\u5e01\u5316\u73b0\u5b9e\u4e16\u754c\u8d44\u4ea7\u3001\u80a1\u7968\u3001\u884d\u751f\u6027\u5546\u54c1\u3001\u9884\u6d4b\u5e02\u573a\u548c\u65e9\u671f\u4ee3\u5e01\u9500\u552e\uff0c\u5c06\u9996\u5148\u5728\u7f8e\u56fd\u63a8\u51fa\uff0c\u7136\u540e\u6839\u636e\u76d1\u7ba1\u8bb8\u53ef\u9010\u6b65\u6269\u5c55\u81f3\u56fd\u9645\u5e02\u573a\u3002 Coinbase \u7684\u76ee\u6807\u662f\u6253\u9020 \u201c\u5168\u80fd\u4ea4\u6613\u6240\u201d\uff0c\u5b9e\u73b0\u6240\u6709\u8d44\u4ea7\u7684\u94fe\u4e0a\u4ea4\u6613\uff0c\u4e0e Robinhood \u3001 Gemini \u548c Kraken \u7b49\u5e73\u53f0\u5f62\u6210\u66f4\u76f4\u63a5\u7ade\u4e89\u3002<\/p>\n

Tether\uff1a\u5b63\u5ea6\u51c0\u5229 49 \u4ebf\u7f8e\u5143\uff0c\u7f8e\u503a\u6301\u4ed3\u8d85 1270 \u4ebf\u7f8e\u5143<\/p>\n

\u622a\u81f3 2025 \u5e74 Q2\uff0cTether \u603b\u8d44\u4ea7\u8fbe\u5230 1625.75 \u4ebf\u7f8e\u5143\uff0c\u8d85\u8fc7\u4e86\u5176 1571.08 \u4ebf\u7f8e\u5143\u7684\u8d1f\u503a\uff0c\u5b9e\u73b0\u8d85\u989d\u51c6\u5907\u91d1\u89c4\u6a21 54.67 \u4ebf\u7f8e\u5143\uff08\u76f8\u8f83\u4e8e\u4e0a\u4e2a\u5b63\u5ea6\u7684 56 \u4ebf\u7f8e\u5143\u7565\u6709\u4e0b\u6ed1\uff09\uff1bUSDT \u7684\u6d41\u901a\u91cf\u8d85\u8fc7 1570 \u4ebf\u7f8e\u5143\uff0c\u5e74\u521d\u81f3\u4eca\u589e\u52a0 200 \u4ebf\u7f8e\u5143\u3002<\/p>\n

\u4ece\u8d44\u4ea7\u7ec4\u6210\u6765\uff0c\u7f8e\u56fd\u56fd\u503a\u6301\u6709\u8d85\u8fc7 1270 \u4ebf\u7f8e\u5143\uff08\u5305\u62ec 1055 \u4ebf\u7f8e\u5143\u7684\u76f4\u63a5\u6301\u6709\u548c 213 \u4ebf\u7f8e\u5143\u7684\u95f4\u63a5\u6301\u6709\uff09\uff0c\u8f83\u7b2c\u4e00\u5b63\u589e\u52a0\u7ea6 80 \u4ebf\u7f8e\u5143\uff0c\u4f4d\u5217\u5168\u7403\u7b2c 18 \u5927\u7f8e\u503a\u6301\u6709\u5b9e\u4f53\u4e4b\u4e00\uff0c\u4ee5\u53ca\u8fd8\u6301\u6709\u4ef7\u503c 89 \u4ebf\u7f8e\u5143\u7684\u6bd4\u7279\u5e01\u548c\u4ef7\u503c 87 \u4ebf\u7f8e\u5143\u7684\u8d35\u91d1\u5c5e (\u9ec4\u91d1) \u7b49\u3002<\/p>\n

\"\"<\/p>\n

Tether \u5728\u7b2c\u4e8c\u5b63\u51c0\u5229\u7ea6 49 \u4ebf\u7f8e\u5143\uff0c\u663e\u8457\u9ad8\u4e8e\u7b2c\u4e00\u5b63\u7684 8.3 \u4ebf\u7f8e\u5143\u3002\u4eca\u5e74\u5e74\u521d\u81f3\u4eca\uff0cTether \u5df2\u7d2f\u79ef\u51c0\u5229\u8fbe 57.3 \u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d 31 \u4ebf\u7f8e\u5143\u4e3a\u7ecf\u5e38\u6027\u6536\u76ca\uff0c26 \u4ebf\u7f8e\u5143\u6765\u81ea\u6bd4\u7279\u5e01\u4e0e\u9ec4\u91d1\u7684\u5e02\u503c\u6210\u957f\u3002<\/p>\n

\u6574\u4f53\u6765\u770b\uff0cTether \u5728\u672c\u5b63\u5c55\u73b0\u51fa\u5f3a\u52b2\u7684\u8d44\u4ea7\u6210\u957f\u80fd\u529b\u548c\u83b7\u5229\u6c34\u5e73\uff0c\u5176\u8d44\u4ea7\u914d\u7f6e\u7684\u591a\u5143\u5316\uff08\u4f8b\u5982\u9ec4\u91d1\u548c\u6bd4\u7279\u5e01\uff09\u4e5f\u4e3a\u5176\u5229\u6da6\u7ec4\u6210\u63d0\u4f9b\u4e86\u5f39\u6027\u3002<\/p>\n

Robinhood\uff1a\u8425\u6536\u63a5\u8fd1 10 \u4ebf\u7f8e\u5143\uff0c\u52a0\u5bc6\u4e1a\u52a1\u63a8\u52a8\u5229\u6da6\u7ffb\u500d<\/p>\n

\u622a\u81f3 2025 \u5e74\u7b2c\u4e8c\u5b63\u672b\uff0cRobinhood \u7684\u8d44\u4ea7\u8d1f\u503a\u8868\u4e0a\u5171\u6301\u6709 42 \u4ebf\u7f8e\u5143\u7684\u73b0\u91d1\u548c\u73b0\u91d1\u7b49\u4ef7\u7269\uff0c\u4e3a\u5168\u7403\u6269\u5f20\u4e0e\u65b0\u4e1a\u52a1\u8bd5\u6c34\u63d0\u4f9b\u4e86\u5145\u8db3\u7684\u300c\u5f39\u836f\u300d\u3002<\/p>\n

\"\"<\/p>\n

\u672c\u5b63\uff0cRobinhood \u5b9e\u73b0\u8425\u6536 9.89 \u4ebf\u7f8e\u5143\uff0c\u5e74\u589e 45%\uff1b\u51c0\u5229\u8fbe 3.86 \u4ebf\u7f8e\u5143\uff0c\u8f83\u53bb\u5e74\u540c\u671f\u7ffb\u500d\uff0c\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u3002\u8c03\u6574\u540e EBITDA \u8fbe 5.49 \u4ebf\u7f8e\u5143\uff0c\u5229\u6da6\u7387\u4e0a\u5347\u81f3 56% \u3002\u63a8\u52a8\u8fd9\u4e00\u6210\u957f\u7684\u6838\u5fc3\u5f15\u64ce\uff0c\u662f\u52a0\u5bc6\u4ea4\u6613\u4e1a\u52a1\u548c\u9009\u62e9\u6743\u4ea4\u6613\u7684\u5f3a\u52bf\u53cd\u5f39\u3002\u5176\u4e2d\uff0c\u9009\u62e9\u6743\u4ea4\u6613\u6536\u5165\u8fbe 2.65 \u4ebf\u7f8e\u5143\uff0c\u5e74\u589e 46%\uff0c\u4ecd\u662f\u6700\u6838\u5fc3\u7684\u6536\u5165\u6765\u6e90\uff1b\u52a0\u5bc6\u4ea4\u6613\u6536\u5165\u8fbe 1.6 \u4ebf\u7f8e\u5143\uff0c\u5e74\u589e 98%\uff0c\u6210\u4e3a\u65b0\u7684\u6210\u957f\u52a8\u529b\uff1b\u800c\u80a1\u7968\u4ea4\u6613\u6536\u5165\u4e5f\u5f55\u5f97 6,600 \u4e07\u7f8e\u5143\uff0c\u8f83\u53bb\u5e74\u540c\u671f\u6210\u957f 65% \u3002<\/p>\n

Robinhood \u5728\u7528\u6237\u89c4\u6a21\u548c\u8d44\u4ea7\u6c89\u6dc0\u65b9\u9762\u4e5f\u4fdd\u6301\u5f3a\u52b2\u3002\u5e73\u53f0\u73b0\u6709\u8d44\u91d1\u5e10\u6237\u6570\u8fbe\u5230 2,650 \u4e07\u4e2a\uff0c\u8f83\u53bb\u5e74\u6210\u957f\u4e86 10%\uff1b\u603b\u5e73\u53f0\u8d44\u4ea7\u7a81\u7834 2,790 \u4ebf\u7f8e\u5143\uff0c\u51e0\u4e4e\u589e\u52a0\u4e86\u4e00\u500d\uff1b\u6d3b\u8dc3\u6295\u8d44\u5e10\u6237\u8fbe 2,740 \u4e07\uff0c\u8f83\u53bb\u5e74\u540c\u671f\u6210\u957f 10%\uff1b\u9ad8\u4ef7\u503c\u7528\u6237\uff08\u8ba2\u9605 Robinhood Gold\uff09\u6210\u957f 76%\uff0c\u8fbe\u5230 350 \u4e07\u4e2a\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u6bcf\u4f4d\u7528\u6237\u5e73\u5747\u5e26\u6765\u7684\u8425\u6536\uff08ARPU\uff09\u5df2\u8fbe 151 \u7f8e\u5143\uff0c\u5e74\u589e 34%\uff0c\u53cd\u6620\u51fa\u5e73\u53f0\u7684\u7528\u6237\u53d8\u73b0\u80fd\u529b\u6301\u7eed\u589e\u5f3a\u3002<\/p>\n

\u4ece\u6218\u7565\u5c42\u9762\u6765\u770b\uff0c\u6700\u503c\u5f97\u5173\u6ce8\u7684\u662f\u672c\u5b63\u5ea6 Robinhood \u5bf9\u52a0\u5bc6\u4e1a\u52a1\u8fdb\u884c\u4e86\u5927\u5200\u9614\u65a7\u7684\u5e03\u5c40\uff0c\u5305\u62ec\u6b63\u5f0f\u5b8c\u6210\u5bf9\u6b27\u6d32\u8001\u724c\u4ea4\u6613\u6240 Bitstamp \u7684\u6536\u8d2d\uff1b\u83b7\u5f97 50 \u591a\u4e2a\u52a0\u5bc6\u5408\u89c4\u724c\u7167\uff0c\u5e76\u5728 30 \u4e2a\u6b27\u6d32\u56fd\u5bb6\u4e0a\u7ebf\u52a0\u5bc6\u670d\u52a1\uff1b\u63a8\u51fa\u80a1\u7968\u4ee3\u5e01\u4ea7\u54c1\uff1b\u5728\u7f8e\u56fd\u5f00\u653e\u4e86\u52a0\u5bc6\u8d28\u62bc\u529f\u80fd\uff0c\u4ee5\u53ca\u8ba1\u5212\u5728\u4e0b\u534a\u5e74\u5b8c\u6210\u5bf9\u52a0\u62ff\u5927 WonderFi \u7684\u5e76\u8d2d\u3002\u53e6\u5916\uff0cRobinhood \u6b63\u5728\u9010\u6b65\u6253\u9020\u81ea\u5df1\u7684\u91d1\u878d\u8d85\u5e02\uff0c\u4f8b\u5982 Robinhood Strategies \u6570\u5b57\u6295\u987e\u670d\u52a1 AUM \u8fbe 5 \u4ebf\u7f8e\u5143\u3001\u9000\u4f11\u5e10\u6237\u8d44\u4ea7\u8fbe 200 \u4ebf\u7f8e\u5143\u4ee5\u53ca Gold \u4fe1\u7528\u5361\u7528\u6237\u5df2\u8fbe 30 \u4e07\u4e2a\u7b49\u3002<\/p>\n

Kraken\uff1a\u5229\u6da6\u8170\u65a9\uff0c\u8ba1\u5212\u52a0\u901f\u591a\u5143\u5316\u5e03\u5c40<\/p>\n

\u5728 2025 \u5e74\u7b2c\u4e8c\u5b63\u5ea6\uff0cKraken \u5728\u591a\u5143\u8d44\u4ea7\u4ea4\u6613\u548c\u5168\u7403\u6269\u5f20\u65b9\u9762\u6301\u7eed\u63a8\u8fdb\uff0c\u4f46\u5e02\u573a\u6574\u4f53\u4ea4\u6613\u6d3b\u8dc3\u5ea6\u7565\u6709\u653e\u7f13\uff0c\u5bfc\u81f4\u90e8\u5206\u5173\u952e\u6307\u6807\u8f83\u4e0a\u5b63\u56de\u843d\u3002<\/p>\n

\"\"<\/p>\n

\u672c\u5b63\u5ea6\uff0cKraken \u8425\u6536 4.12 \u4ebf\u7f8e\u5143\uff0c\u867d\u5e74\u589e 18%\uff0c\u4f46\u8f83\u4e0a\u4e00\u5b63\uff084.72 \u4ebf\u7f8e\u5143\uff09\u8f83\u4e0a\u5b63\u4e0b\u964d\u3002\u672c\u5b63\u8c03\u6574\u540e\u7684\u606f\u7a0e\u6298\u65e7\u644a\u63d0\u524d\u5229\u6da6\u4e3a 8,000 \u4e07\u7f8e\u5143\uff0c\u76f8\u6bd4 Q1 \u7684 1.87 \u4ebf\u7f8e\u5143\u5927\u5e45\u56de\u843d\u3002\u4ece\u8425\u8fd0\u6570\u636e\u6765\u770b\uff0cKraken \u62e5\u6709\u7ea6 1,500 \u4e07\u5168\u7403\u5ba2\u6237\uff0c\u7b2c\u4e8c\u5b63\u4ea4\u6613\u603b\u91cf\u4e3a 1,868 \u4ebf\u7f8e\u5143\uff0c\u5b63\u51cf 10.5%\uff0c\u4f46\u5e74\u6bd4\u4ecd\u5b9e\u73b0 19% \u7684\u6210\u957f\uff1bKraken \u7684\u8d44\u91d1\u5e10\u6237\u6570\u589e\u81f3 440 \u4e07\u4e2a\uff0c\u5e74\u6210\u957f\u5219\u9ad8\u8fbe 37%\uff1b\u5e73\u53f0\u6258\u7ba1\u8d44\u4ea7\u8fbe 432 \u4ebf\u7f8e\u5143\uff0c\u5e74\u6bd4\u6210\u957f\u66f4\u662f\u8fbe\u5230 47% \u3002<\/p>\n

\u63a5\u4e0b\u6765\uff0cKraken \u7684\u5168\u7403\u4e1a\u52a1\u5c06\u6301\u7eed\u63d0\u901f\uff0c\u5305\u62ec\u65b0\u724c\u7167\u9646\u7eed\u83b7\u6279\u3001\u672c\u5730\u8d44\u91d1\u901a\u9053\u62d3\u5c55\u3001\u591a\u8d44\u4ea7\u4f53\u9a8c\u5347\u7ea7\u4ee5\u53ca\u521b\u65b0\u4ea7\u54c1\u63a8\u51fa\uff0c\u4f8b\u5982\u56fd\u9645\u80a1\u7968\u3001\u4ee3\u5e01\u5316\u80a1\u7968\u3001 Kraken \u501f\u8bb0\u5361\u548c NinjaTrader \u53d1\u5c55\u7b49\u3002<\/p>\n

\"\"<\/p>\n

\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0cKraken \u6b63\u5bfb\u6c42\u4ee5 150 \u4ebf\u7f8e\u5143\u4f30\u503c\u878d\u8d44 5 \u4ebf\u7f8e\u5143\uff0c\u5e76\u8ba1\u5212\u4e8e 2026 \u5e74\u8fdb\u884c IPO \u3002\u5bf9\u6b64\uff0cinsights4.vc. \u5206\u6790\u79f0\uff0cKraken \u51ed\u501f\u7528\u6237\u54c1\u8d28\u548c\u4ea4\u6613\u6d3b\u8dc3\u5ea6\u5747\u5904\u4e8e\u884c\u4e1a\u524d\u5217\uff0c\u5e76\u900f\u8fc7\u62d3\u5c55\u884d\u751f\u6027\u5546\u54c1\u3001\u80a1\u7968\u4ea4\u6613\u3001\u652f\u4ed8\u670d\u52a1\u7b49\u65b0\u4e1a\u52a1\uff0c\u4e0d\u65ad\u964d\u4f4e\u5bf9\u73b0\u8d27\u624b\u7eed\u8d39\u7684\u4f9d\u8d56\uff0c\u589e\u5f3a\u81ea\u8eab\u5bf9\u5e02\u573a\u5468\u671f\u7684\u6297\u98ce\u9669\u80fd\u529b\u3002\u540c\u65f6\uff0c\u5728\u76d1\u7ba1\u8d8b\u4e25\u7684\u5927\u80cc\u666f\u4e0b\uff0cKraken \u5df2\u83b7\u5f97\u591a\u5730\u5408\u89c4\u724c\u7167\uff0c\u5728\u5408\u89c4\u6027\u3001\u5b89\u5168\u6027\u4e0e\u6cd5\u5e01\u5165\u53e3\u670d\u52a1\u65b9\u9762\u5177\u6709\u663e\u8457\u4f18\u52bf\u3002\u9762\u5bf9 Binance \u4e0e Coinbase \u7684\u6fc0\u70c8\u7ade\u4e89\uff0cKraken \u5df2\u6210\u529f\u5efa\u7acb\u4ee5\u4ea7\u54c1\u591a\u6837\u6027\u548c\u900f\u660e\u5408\u89c4\u4e3a\u6838\u5fc3\u7684\u300c\u7b2c\u4e8c\u68af\u961f\u300d\u54c1\u724c\u5b9a\u4f4d\u3002\u82e5\u52a0\u5bc6\u5e02\u573a\u5728\u672a\u6765\u4e00\u5e74\u6301\u7eed\u590d\u82cf\uff0cKraken \u9884\u8ba1\u5c06\u6210\u4e3a\u7ee7 Coinbase \u540e\u53c8\u4e00\u5bb6\u83b7\u5229\u7a33\u5b9a\u3001\u5408\u89c4\u7684\u52a0\u5bc6\u4ea4\u6613\u6240\u4e0a\u5e02\u516c\u53f8\u3002<\/p>\n

Riot Platforms\uff1a\u8425\u6536\u5e74\u589e\uff0cBTC \u4ea7\u91cf\u5e74\u589e 69%<\/p>\n

2025 \u5e74\u7b2c\u4e8c\u5b63\u5ea6\uff0cRiot Platforms \u5b9e\u73b0\u603b\u8425\u6536 1.53 \u4ebf\u7f8e\u5143\uff0c\u8f83 2024 \u5e74\u540c\u671f\u7684 7,000 \u4e07\u7f8e\u5143\u6210\u957f\u4e00\u500d\u4ee5\u4e0a\uff0c\u6210\u957f\u4e3b\u8981\u7531\u6bd4\u7279\u5e01\u6316\u77ff\u4e1a\u52a1\u9a71\u52a8\uff0c\u8be5\u4e1a\u52a1\u8d21\u732e\u8425\u6536\u7ea6 1.41 \u4ebf\u7f8e\u5143\uff0c\u5e74\u6210\u957f\u8d85\u8fc7 150% \u3002\u5728\u6bd4\u7279\u5e01\u4ef7\u683c\u8d70\u5f3a\u4e0e\u4ea7\u80fd\u6269\u5f20\u7684\u5171\u540c\u63a8\u52a8\u4e0b\uff0c\u516c\u53f8\u5b63\u5171\u751f\u4ea7 1,426 \u679a BTC\uff0c\u8f83\u53bb\u5e74\u540c\u671f\u7684 844 \u679a\u6210\u957f\u4e86\u7ea6 69% \u3002<\/p>\n

\u53d7 2024 \u5e74 4 \u6708\u51cf\u534a\u4e8b\u4ef6\u548c\u5168\u7403\u7b97\u529b\u6301\u7eed\u4e0a\u5347\u5f71\u54cd\uff0cRiot \u7684\u5355\u679a\u6bd4\u7279\u5e01\u7684\u5e73\u5747\u5f00\u91c7\u6210\u672c\uff08\u4e0d\u542b\u6298\u65e7\uff09\u4e0a\u5347\u81f3 48,992 \u7f8e\u5143\uff0c\u5e74\u6bd4\u4e0a\u6da8 93%\uff0c\u4f46\u4ecd\u663e\u8457\u4f4e\u4e8e\u540c\u671f\u6bd4\u7279\u5e01\u5e73\u5747\u552e\u4ef7\uff08\u7ea6 98,800 \u7f8e\u5143\uff09\u3002\u4e0d\u8fc7\uff0c\u82e5\u672a\u6765\u6bd4\u7279\u5e01\u4ef7\u683c\u4e0b\u8dcc\u6216\u6316\u77ff\u96be\u5ea6\u6301\u7eed\u4e0a\u5347\uff0c\u6bdb\u5229\u7a7a\u95f4\u53ef\u80fd\u53d7\u5230\u6324\u538b\uff0c\u6210\u672c\u7ba1\u63a7\u548c\u7b97\u529b\u6548\u7387\u5c06\u6210\u4e3a\u5173\u952e\u3002\u800c\u6839\u636e Riot \u63ed\u9732\uff0c\u968f\u8457\u9ad8\u6548\u80fd\u8fd0\u7b97\uff08HPC\uff09\u548c AI \u57fa\u7840\u8bbe\u65bd\u9700\u6c42\u7684\u4e0a\u5347\uff0c\u8be5\u516c\u53f8\u5c06\u7ee7\u7eed\u63a8\u8fdb\u7535\u529b\u8d44\u6e90\u7684\u591a\u5143\u5316\u5e94\u7528\u5e03\u5c40\uff0c\u9010\u6b65\u4ece\u5355\u4e00\u7684\u6bd4\u7279\u5e01\u6316\u77ff\u516c\u53f8\u8f6c\u578b\u4e3a\u300c\u4ee5\u6bd4\u7279\u5e01\u4e3a\u6838\u5fc3\u3001\u9762\u5411\u672a\u6765\u7b97\u529b\u9700\u6c42\u7684\u57fa\u7840\u8bbe\u65bd\u5e73\u53f0\u300d\u3002<\/p>\n

\u5728\u5229\u6da6\u8868\u73b0\u65b9\u9762\uff0cRiot \u5f55\u5f97\u51c0\u5229\u6da6 2.195 \u4ebf\u7f8e\u5143\uff0c\u8fdc\u8d85 2024 \u5e74\u540c\u671f\u4e3a\u8d1f\u7684\u8868\u73b0\uff0c\u8c03\u6574\u540e EBITDA \u8fbe\u5230 4.953 \u4ebf\u7f8e\u5143\uff0c\u53cd\u6620\u51fa\u5176\u6838\u5fc3\u4e1a\u52a1\u7684\u5f3a\u52b2\u73b0\u91d1\u521b\u9020\u80fd\u529b\u548c\u9ad8\u7ecf\u8425\u6760\u6746\u3002<\/p>\n

\u6b64\u5916\uff0c\u516c\u53f8\u7ee7\u7eed\u7ef4\u6301\u5f3a\u5065\u7684\u8d44\u4ea7\u8d1f\u503a\u8868\u3002\u622a\u81f3\u7b2c\u4e8c\u5b63\u672b\uff0cRiot Platforms \u5171\u6301\u6709 19,273 \u679a BTC\uff08\u4ef7\u503c\u7ea6 21 \u4ebf\u7f8e\u5143\uff09\uff0c\u4ee5\u53ca 2.554 \u4ebf\u7f8e\u5143\u4e0d\u53d7\u9650\u73b0\u91d1\uff0c\u53ef\u4e3a\u4e3a\u5176\u672a\u6765\u6269\u5f20\u3001\u9ad8\u6027\u80fd\u8fd0\u7b97\u8f6c\u578b\u6216\u5e94\u5bf9\u5e02\u573a\u6ce2\u52a8\u63d0\u4f9b\u4e86\u5145\u8db3\u7684\u8d44\u91d1\u4fdd\u969c\u3002<\/p>\n

\uff08\u4ee5\u4e0a\u5185\u5bb9\u83b7\u5408\u4f5c\u4f19\u4f34 PANews \u6388\u6743\u8282\u5f55\u53ca\u8f6c\u8f7d\uff0c\u539f\u6587\u8fde\u7ed3\u00a0 \u00a0\uff09<\/p>\n","protected":false},"excerpt":{"rendered":"

\u52a0\u5bc6\u8d27\u5e01\u8d22\u62a5\u5b63\u6765\u88ad\uff0c\u5404\u5927\u673a\u6784\u7eb7\u7eb7\u4ea4\u51fa\u4e86 2025 \u5e74\u7684\u300c\u671f\u4e2d\u8003\u6210\u7ee9\u5355\u300d\uff0c\u672c\u6587\u5c06\u68b3\u7406 Strategy\u3001Teth…<\/p>\n","protected":false},"author":3,"featured_media":5985,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-6448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/posts\/6448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6448"}],"version-history":[{"count":1,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/posts\/6448\/revisions"}],"predecessor-version":[{"id":9020,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/posts\/6448\/revisions\/9020"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=\/wp\/v2\/media\/5985"}],"wp:attachment":[{"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dm-yq.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}