Coinbase硬币加入标准普尔500指数，将分散融资存入更多投资组合

自IPO以来，Coinbase的股票表现不佳。特朗普政府在前美国证券和交易委员会主席加里·金斯勒（Gary Gensler）领导下的更严格的执法政策。加密货币没有被延续到市场条纹上，而是将其引入了金融决心。

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.

标准普尔全球指数周五表示，加密货币交易所运营商Coinbase将于5月19日加入标准普尔500指数，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.

此举是因为特朗普政府撤销了更严格的执法政策，这些政策可能会使加密货币在市场边缘上，并将其引入金融牢固。

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.

它还遵循监管部门对贝莱德和其他资产经理的加密交易所交易资金的批准，这有助于膨胀市场。根据CoinMarketCap的数据，数字货币的总价值现在约为3.4万亿美元，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.

按照这一标准，Coinbase进入基准股票指数是有意义的，该指数旨在反映更广泛的经济。

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.

这家耗资600亿美元的公司去年产生了26亿美元的利润，并避免了许多行业更风险的做法。这也与另一家加密货币公司Defi Technologies形成鲜明对比，该公司于周五开始在纳斯达克进行交易。

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的主要业务是为Hedera和Dogecoin等鲜为人知的货币创建类似ETF的证券。它的净亏损去年翻了一番，欠其产品持有人将近9亿美元，而大约7亿美元的资产Defi表示可以在一年或更短的时间内清算，这可能是流动性压力的潜在差异。该公司还表示，它还有其他资产，其中一些资产可提供后台。

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.

其他地方还有其他问题。根据标准普尔研究部门的说法，最高价格购买者愿意为最大的加密资产支付费用，而最低的卖家将接受的价格缩小，但是它仍然比许多易于交易的股票更广泛。这一差距为精致的交易者留出了很大的空间，可以从不太精明的投资者那里回报。

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.

与总统本人相关的模因硬币就是一个很好的例子。根据区块链研究公司的链分析，约有764,000个加密钱包在特朗普上损失了钱，而58个则赚了超过100万美元。

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

标准普尔500标准普尔可能会展示加密货币的更光亮的一面，但请务必考虑硬币的另一侧。