Coinbase加入了標準普爾500指數，鞏固了Crypto的合法性

過去一周，Coinbase加入了標準普爾500指數，這是世界上最精英的股票指數之一，這是加密貨幣公司的勝利，該公司在2020年代的大部分時間裡都與我們作戰

Coinbase’s inclusion in the S&P 500 is a testament to the crypto firm’s resilience following years of battling U.S. government agencies.

Coinbase在標準普爾500標準普爾500指數中的包容性證明了加密貨幣公司在與美國政府機構作鬥爭後的韌性。

* As the largest U.S. cryptocurrency exchange, Coinbase has faced an uphill battle for survival, engaging in legal disputes with the SEC and Commodity Futures Trading Commission.

*作為美國最大的加密貨幣交易所，Coinbase面臨著一場艱鉅的生存之戰，與SEC和商品期貨交易委員會進行了法律糾紛。

* Despite these challenges, Coinbase has persevered and achieved a remarkable feat by joining one of the world’s most elite stock indexes.

*儘管面臨這些挑戰，但Coinbase加入了世界上最精英的股票指數之一，堅持不懈地實現了一項非凡的壯舉。

* This attainment is not about one company alone. “This is more than an achievement for Coinbase; it’s a landmark for the broader crypto and blockchain industry,” said Meryem Habibi, chief revenue officer of Bitpace.

*這個成就不是僅僅與一家公司有關。 Bitpace首席收入官Meryem Habibi說：“這不僅僅是Coinbase的成就；這是更廣泛的加密和區塊鏈行業的地標。”

* According to Habibi, Coinbase joining the S&P 500 doesn’t just boost the owner of the largest U.S. cryptocurrency exchange. “It cements the legitimacy of an entire asset class.”

*根據Habibi的說法，加入標準普爾500的Coinbase不僅會促進美國最大的加密貨幣交易所的所有者。 “它鞏固了整個資產類別的合法性。”

This time, it’s a crypto firm that’s been brought into the S&P 500 fold.

這次，這是一家加密貨幣公司，已被帶入標準普爾500倍。

“The last time a company applied to list in the U.S. with the intent to raise $1 billion or more in a year was in 2000 during the dot-com era,” said Russell Rhoads, clinical associate professor of financial management at Indiana University’s Kelley School of Business Indianapolis.

印第安納大學凱利大學印第安納波利斯凱利大學金融管理臨床副教授羅素·羅德斯（Russell Rhoads）表示：“一家公司上次申請在美國申請列表，目的是在2000年期間在Dot-Com時代籌集10億美元或更多。”

“It does make sense for COIN or some other crypto-related firm to be in the index, as the industry is becoming more important to the global economy and you want the S&P 500 constituents to be representative of the economy.”

“對於硬幣或其他與加密貨幣有關的公司的指數確實很有意義，因為該行業對全球經濟變得越來越重要，並且您希望標準普爾500指數成分代表經濟。”

Earlier this week, Coinbase reported a data breach, a “compromise of passwords or private keys” that could eventually cost the crypto exchange $180 million to $400 million. The hack has exposed the personal information of tens of thousands of users and has left them vulnerable to robberies and kidnappings, as seen in the wake of the 2021 Ledger breach.

本週早些時候，Coinbase報告了數據洩露，這是“密碼或私鑰的妥協”，最終可能會花費Crypto Exchange 1.8億美元至4億美元。該黑客揭露了成千上萬用戶的個人信息，並使他們容易受到搶劫和綁架的影響，這是在2021年分類帳違規之後所看到的。

The report arrives as Coinbase is coping with a lawsuit from the SEC, which claims that the exchange sold unregistered securities to its users. The complaint centers on Coinbase’s activities as a crypto exchange, spanning from 2019 to the present day.

該報告隨著Coinbase的應對，該報告到達了SEC的訴訟，該訴訟聲稱該交易所向其用戶出售了未註冊的證券。投訴以Coinbase作為加密交易所的活動為中心，涉及從2019年到今天。

The SEC's case against Coinbase is part of a broader crackdown on the cryptocurrency industry by the agency, which has been increasing its scrutiny of digital assets in recent years.

SEC針對Coinbase的案件是該機構對加密貨幣行業的更廣泛鎮壓的一部分，該機構近年來一直在增加對數字資產的審查。

Coinbase responded to the lawsuit with a statement on X, formerly Twitter, asserting its innocence and highlighting the SEC's actions in shutting down any attempts by Coinbase to engage with the agency regarding its regulatory framework.

Coinbase對訴訟作出了回應，以前是Twitter的聲明，主張其無罪，並強調了SEC在關閉Coinbase與該機構有關其監管框架的任何企圖的任何嘗試。

"We are disappointed that the SEC chose to file this lawsuit despite the cooperation we've offered and the industry's urgent need for clear rules of the road," the company said in a statement. "Coinbase is a compliant company, and we act in the best interest of our customers."

該公司在一份聲明中說：“儘管我們提供了合作以及該行業迫切需要明確的道路規則，但SEC還是選擇提起這項訴訟。” “ Coinbase是一家合規的公司，我們為客戶的最大利益行事。”

Coinbase's inclusion in the S&P 500 means that "index funds, including those managed by BlackRock, Vanguard and State Street, must now allocate capital to Coinbase," Habibi told Benajmin Biader. "This means billions of dollars in passive investment will flow into a crypto-native business."

Habibi告訴Benajmin Biader，Coinbase在標準普爾500指數中的包含在標準普爾500指數中，“包括由貝萊德，先鋒街和州街管理的指數資金必須分配給Coinbase”。 “這意味著數十億美元的被動投資將流入加密本地業務。”

According to a 2024 report by S&P DJII, about $10 trillion in assets are passively tracking the S&P 500 index.

根據S＆P DJII的2024年報告，大約10萬億美元的資產正在被動地跟踪標準普爾500指數。

If Coinbase gets only a 0.1% weighting — a share that Habibi thinks reasonable — it could reap $10 billion in potential capital flows without a single investor actively choosing crypto exposure.

如果Coinbase僅獲得0.1％的加權（Habibi認為合理的份額），那麼如果沒有單個投資者積極選擇加密貨幣敞口，它就可以從100億美元中獲得100億美元的潛在資本流量。

"What’s remarkable about this is that just a few months ago, the company was engaged in an intense legal battle with the SEC, which was charging that its platform was illegal because it was trafficking in unregistered securities," Benchmark analyst Mark Palmer told CNBC.

基準分析師馬克·帕爾默（Mark Palmer）告訴CNBC：“這是幾個月前，該公司與SEC進行了激烈的法律鬥爭，這指控其平台是非法的，因為它正在販運未註冊的證券。”

This normalizes crypto exposure in conservative portfolios that might otherwise avoid digital assets and brings with it indirect adoption by institutional investors, retirement plans and sovereign funds, which has broader industry significance, Habibi added.

Habibi補充說，這使保守派投資組合中的加密貨幣暴露範圍可以避免數字資產，並帶來了機構投資者，退休計劃和主權基金的間接採用，這具有更廣泛的行業意義。

"I think the greater convergence coming ahead will be increasing institutional adoption of blockchain-based protocols and tokenization."

“我認為，進步的較大融合將增加基於區塊鏈的協議和令牌化的機構採用。”

While some might say that this signals a convergence of the crypto and TradFi economic sectors, Kim believes that it’s still premature. According to her, crypto, overall, is still a very small fraction of the overall economy.

儘管有些人可能會說這表明加密和貿易節經濟部門的融合，但金認為這仍然為時過早。據她說，總體而言，加密貨幣仍然是整體經濟的一小部分。

"We're not quite at full convergence, but we're definitely past the separation phase," opined Kennard. He, too, referenced crypto ETFs but also pointed to recent events, like Galaxy Digital's listing on the Nasdaq exchange this month and Coinbase's role as custodian for multiple ETFs, demonstrating that TradFi firms are now looking to crypto-native firms for some infrastructure needs.

肯納德說：“我們還沒有完全融合，但我們絕對超越了分離階段。”他也引用了加密ETF，但也指出了最近的事件，例如Galaxy Digital在本月納斯達克交易所上的上市以及Coinbase作為多個ETF的保管人的角色，表明TradFi公司現在正在尋求針對某些基礎設施需求的加密公司。

"Regulatory clarity is still emerging, but institutional rails are being laid fast," Kennard added.

肯納德補充說：“監管清晰度仍在出現，但是機構軌道的鋪設迅速。”

More equity listings mean that crypto companies can tap markets as a

更多的股權清單意味著加密公司可以將市場作為一個