Coinbase，Stablecoins和參議院法案：《天才法》的紐約分鐘

《天才法案》有望動搖穩定的市場，有可能提高Coinbase的收入並使該行業合法化。但是房子會打球嗎？

The buzz around Coinbase, stablecoins, and the Senate's GENIUS Act is hotter than a slice of New York pizza in July. What's the deal? Basically, this bill could be a game-changer for Coinbase and the entire stablecoin market.

圍繞Coinbase，Stablecoins和參議院的天才法案的嗡嗡聲比7月的紐約披薩片更熱。有什麼交易？基本上，該法案可能是Coinbase和整個Stablecoin市場的遊戲改變者。

The GENIUS Act: A Big Win for Coinbase?

《天才法案：共同案》的巨大勝利？

So, the Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, and folks are saying it's a major victory for Coinbase. Why? Because it allows non-banks to issue stablecoins. Coinbase has a sweet partnership with Circle, the company behind USD Coin (USDC), and this bill could keep that revenue flowing. Last quarter alone, Coinbase raked in $298 million from USDC, which is over 15% of their total net revenue. That's some serious cheddar!

因此，參議院通過了指導並建立了為美國穩定幣（Genius）法案的國家創新，人們說這是Coinbase的重大勝利。為什麼？因為它允許非銀行發行穩定劑。 Coinbase與Circle（USD Coin（USDC））的公司建立了甜蜜的合作夥伴關係，該法案可以使收入流動。僅上一季度，Coinbase從USDC賺了2.98億美元，佔其淨收入的15％以上。那是一個嚴重的切達干酪！

Plus, the GENIUS Act aims to create a bank-like regulatory framework for stablecoins. Think capital requirements, liquidity rules, and anti-money laundering programs. Sure, it might mean higher compliance costs, but it also builds trust in the industry. And when people trust stablecoins, the whole market grows, which is good news for Coinbase.

另外，《天才法案》旨在為穩定幣創建一個類似銀行的監管框架。考慮資本要求，流動性規則和反貨幣洗錢計劃。當然，這可能意味著更高的合規成本，但也建立了對行業的信任。當人們信任Stablecoins時，整個市場都會增長，這對Coinbase來說是個好消息。

The House and the STABLE Act: A Potential Roadblock?

房子和穩定的行為：潛在的障礙？

Now, hold your horses. The GENIUS Act still needs to pass in the House. And there's another bill in the mix, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act. Both bills allow non-banks to issue stablecoins, but the STABLE Act is generally less favorable to companies like Coinbase, imposing greater restrictions.

現在，握住你的馬。 《天才法》仍然需要在房子裡經過。還有另一項法案，包括更好的分類帳（穩定）法案的Stablecoin透明度和問責制。這兩項法案都允許非銀行發行穩定的co，但穩定的法案通常不利於Coinbase這樣的公司，施加更大的限制。

One key difference? The GENIUS Act makes it tougher for non-financial companies, like Meta, to issue stablecoins. If the GENIUS framework wins out, Coinbase could see less competition and increased demand for its offerings.

一個關鍵區別？ 《天才法案》使像元公司這樣的非金融公司更難發行穩定的公司。如果Genius框架獲勝，Coinbase可能會看到更少的競爭和對其產品的需求增加。

Stablecoins: A Trillion-Dollar Opportunity?

Stablecoins：萬億美元的機會？

Analysts at Citigroup are super bullish on stablecoins, predicting the global market could explode from $230 billion in early 2025 to a whopping $1.6 trillion by 2030 in their base-case scenario. Some even think it could hit $3.7 trillion! With that kind of growth potential and favorable government policies, Coinbase is sitting pretty.

花旗集團（Citigroup）的分析師對Stablecoins表示超級看好，預測全球市場可能會從2025年初的2,300億美元爆炸到2030年到2030年的基本場景中的1.6萬億美元。有些人甚至認為它可能達到3.7萬億美元！憑藉這種增長潛力和有利的政府政策，Coinbase坐著很漂亮。

Trump's Take:

特朗普的看法：