偏置集成以增強交叉銷售並改善交易量

領導團隊預計，將進一步採用USDC，並以夥伴關係並遵守歐洲法規是國際增長和經常性收入的驅動力。

Coinbase is prepared to pursue further strategic acquisitions, according to management. Asked by Alexander Markgraff from KeyBanc about M&A priorities, the leadership team highlighted the strength of the balance sheet and improving regulatory clarity as enablers for expanding into new areas.

據管理層稱，Coinbase準備進行進一步的戰略收購。由Keybanc的Alexander Markgraff詢問併購優先事項時，領導團隊強調了資產負債表的實力，並提高了監管清晰度，作為擴展到新領域的推動力。

The company's ability to quickly launch new products and expand into adjacent markets could be aided by strategic acquisitions, while its strong financial position provides the flexibility to make opportunistic investments.

該公司快速推出新產品並擴展到相鄰市場的能力可以通過戰略收購來幫助，而其強大的財務狀況為進行機會投資提供了靈活性。

Coinbase has been actively expanding its product offerings and geographic footprint in recent years as part of its broader growth strategy.

近年來，Coinbase一直在積極擴展其產品和地理足跡，這是其更廣泛的增長戰略的一部分。

The company's recent acquisition of the crypto derivatives exchange Deribit is a prime example of this strategy in action.

該公司最近收購加密衍生品交易所deribit是該策略中的一個典型例子。

The integration of Deribit's options platform is expected to enhance cross-selling to institutional clients and improve trading volumes by offering spot, futures, and options products under one roof.

預計Deribit期權平台的集成將通過提供一個屋頂下的現場，期貨和期權產品來增強對機構客戶的交叉銷售，並改善交易量。

The leadership team also expects further adoption of USDC, with partnerships and compliance with European regulations driving international growth and recurring revenue.

領導團隊還希望進一步採用USDC，並通過合作夥伴關係和遵守歐洲法規推動了國際增長和經常性收入。

However, management also acknowledged that evolving regulations and asset price volatility remain sources of uncertainty for guidance.

但是，管理層還承認，不斷發展的法規和資產價格波動仍然是指導的不確定性來源。

The leadership team highlighted the importance of liquidity and global adoption, leading them to expand the USDC partnership to include Binance and share economics with partners to increase the total addressable market.

領導團隊強調了流動性和全球採用的重要性，導致他們擴大了USDC的合作夥伴關係，以包括binance並與合作夥伴共享經濟學，以增加可尋址的市場。

In response to Devin Ryan from Citizens' question on competitive dynamics as traditional banks enter crypto, they explained that Coinbase aims to provide the infrastructure that enables these entrants, expecting to benefit from broader adoption of crypto rails by financial institutions.

為了回應公民對競爭動態的問題的德文·瑞安（Devin Ryan），隨著傳統銀行進入加密貨幣，他們解釋說，Coinbase的目的是提供使這些參與者的基礎設施，希望從金融機構通過更廣泛採用加密貨幣鐵路。

The company is making good progress with U.S. regulators on rolling out its crypto derivatives offering, pending which they plan to launch Deribit's products in the U.S.

該公司在美國監管機構推出其加密衍生品產品方面取得了良好的進步，他們計劃在美國推出Deribit的產品

Coinbase is planning to launch a range of crypto derivatives products in the U.S. pending regulatory approval, and it's actively engaging with authorities to navigate the legal and compliance landscape.

Coinbase計劃在美國發布一系列加密衍生產品產品，以待獲得監管部門，並積極與當局互動，以瀏覽法律和合規環境。

The company's ability to offer a diverse suite of products and services could be crucial in attracting and retaining institutional clients, who are increasingly interested in investing in digital assets.

該公司提供各種產品和服務套件的能力對於吸引和保留機構客戶越來越有興趣投資數字資產至關重要。

The leadership team highlighted the importance of liquidity and global adoption, leading them to expand the USDC partnership to include Binance and share economics with partners to increase the total addressable market.

領導團隊強調了流動性和全球採用的重要性，導致他們擴大了USDC的合作夥伴關係，以包括binance並與合作夥伴共享經濟學，以增加可尋址的市場。

In response to Devin Ryan from Citizens' question on competitive dynamics as traditional banks enter crypto, they explained that Coinbase aims to provide the infrastructure that enables these entrants, expecting to benefit from broader adoption of crypto rails by financial institutions.

為了回應公民對競爭動態的問題的德文·瑞安（Devin Ryan），隨著傳統銀行進入加密貨幣，他們解釋說，Coinbase的目的是提供使這些參與者的基礎設施，希望從金融機構通過更廣泛採用加密貨幣鐵路。