Coinbase硬幣加入標準普爾500指數，將分散融資存入更多投資組合

自IPO以來，Coinbase的股票表現不佳。特朗普政府在前美國證券和交易委員會主席加里·金斯勒（Gary Gensler）領導下的更嚴格的執法政策。加密貨幣沒有被延續到市場條紋上，而是將其引入了金融決心。

Cryptocurrency exchange operator Coinbase will be joining the S&P 500 Index on May 19, replacing Discover Financial Services, S&P Global Indices said on Friday.

標準普爾全球指數週五表示，加密貨幣交易所運營商Coinbase將於5月19日加入標準普爾500指數，以取代Discover Financial Services。

The move comes as the Trump administration has rolled back tougher enforcement policies that could have kept crypto on the market fringes and ushered it into the financial firmament.

此舉是因為特朗普政府撤銷了更嚴格的執法政策，這些政策可能會使加密貨幣在市場邊緣上，並將其引入金融牢固。

It also follows regulatory approval of crypto-linked exchange-traded funds from BlackRock and other asset managers, which helped to inflate the market. The total value of digital currencies now stands at some $3.4 trillion, triple the sum three years ago, according to CoinMarketCap.

它還遵循監管部門對貝萊德和其他資產經理的加密交易所交易資金的批准，這有助於膨脹市場。根據CoinMarketCap的數據，數字貨幣的總價值現在約為3.4萬億美元，三年前三倍。

By that standard, it makes sense for Coinbase to enter the benchmark stock index, which is designed to reflect the broader economy.

按照這一標準，Coinbase進入基準股票指數是有意義的，該指數旨在反映更廣泛的經濟。

The $60 billion company generated $2.6 billion of profit last year and eschews many of the industry's riskier practices. It's also a stark contrast to another crypto firm, DeFi Technologies, which started trading on Nasdaq on Friday.

這家耗資600億美元的公司去年產生了26億美元的利潤，並避免了許多行業更風險的做法。這也與另一家加密貨幣公司Defi Technologies形成鮮明對比，該公司於週五開始在納斯達克進行交易。

DeFi's main business is creating ETF-like securities for lesser-known currencies such as Hedera and Dogecoin. Its net loss doubled last year and it owes nearly $900 million to holders of its products compared to about $700 million of assets DeFi indicates can be liquidated in a year or less, a difference that can be a potential indicator of liquidity stress. The company also says it has other assets, some of which are held off the balance sheet, that provide a backstop.

Defi的主要業務是為Hedera和Dogecoin等鮮為人知的貨幣創建類似ETF的證券。它的淨虧損去年翻了一番，欠其產品持有人將近9億美元，而大約7億美元的資產Defi表示可以在一年或更短的時間內清算，這可能是流動性壓力的潛在差異。該公司還表示，它還有其他資產，其中一些資產可提供後台。

Other concerns exist elsewhere. The spread between the highest price buyers are willing to pay for the biggest crypto assets and the lowest sellers will accept has narrowed, but it remains broader than for many easily tradable stocks, according to S&P's research arm. This gap leaves plenty of room for sophisticated traders to siphon returns from less savvy investors.

其他地方還有其他問題。根據標準普爾研究部門的說法，最高價格購買者願意為最大的加密資產支付費用，而最低的賣家將接受的價格縮小，但是它仍然比許多易於交易的股票更廣泛。這一差距為精緻的交易者留出了很大的空間，可以從不太精明的投資者那裡回報。

A meme coin associated with the president himself is a case in point. About 764,000 crypto wallets have lost money on $TRUMP, according to blockchain research firm Chainalysis, while 58 have made more than $1 million apiece.

與總統本人相關的模因硬幣就是一個很好的例子。根據區塊鏈研究公司的鏈分析，約有764,000個加密錢包在特朗普上損失了錢，而58個則賺了超過100萬美元。

The S&P 500 may showcase the shinier side of crypto, but be sure to consider the other side of the coin.

標準普爾500標準普爾可能會展示加密貨幣的更光亮的一面，但請務必考慮硬幣的另一側。