Coinbase加入了标准普尔500指数，巩固了Crypto的合法性

过去一周，Coinbase加入了标准普尔500指数，这是世界上最精英的股票指数之一，这是加密货币公司的胜利，该公司在2020年代的大部分时间里都与我们作战

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在标准普尔500标准普尔500指数中的包容性证明了加密货币公司在与美国政府机构作斗争后的韧性。

* 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.

*作为美国最大的加密货币交易所，Coinbase面临着一场艰巨的生存之战，与SEC和商品期货交易委员会进行了法律纠纷。

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

*尽管面临这些挑战，但Coinbase加入了世界上最精英的股票指数之一，坚持不懈地实现了一项非凡的壮举。

* 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.

*这个成就不是仅仅与一家公司有关。 Bitpace首席收入官Meryem Habibi说：“这不仅仅是Coinbase的成就；这是更广泛的加密和区块链行业的地标。”

* 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.”

*根据Habibi的说法，加入标准普尔500的Coinbase不仅会促进美国最大的加密货币交易所的所有者。 “它巩固了整个资产类别的合法性。”

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

这次，这是一家加密货币公司，已被带入标准普尔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.

印第安纳大学凯利大学印第安纳波利斯凯利大学金融管理临床副教授罗素·罗德斯（Russell Rhoads）表示：“一家公司上次申请在美国申请列表，目的是在2000年期间在Dot-Com时代筹集10亿美元或更多。”

“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.”

“对于硬币或其他与加密货币有关的公司的指数确实很有意义，因为该行业对全球经济变得越来越重要，并且您希望标准普尔500指数成分代表经济。”

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.

本周早些时候，Coinbase报告了数据泄露，这是“密码或私钥的妥协”，最终可能会花费Crypto Exchange 1.8亿美元至4亿美元。该黑客揭露了成千上万用户的个人信息，并使他们容易受到抢劫和绑架的影响，这是在2021年分类帐违规之后所看到的。

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.

该报告随着Coinbase的应对，该报告到达了SEC的诉讼，该诉讼声称该交易所向其用户出售了未注册的证券。投诉以Coinbase作为加密交易所的活动为中心，涉及从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针对Coinbase的案件是该机构对加密货币行业的更广泛镇压的一部分，该机构近年来一直在增加对数字资产的审查。

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对诉讼作出了回应，以前是Twitter的声明，主张其无罪，并强调了SEC在关闭Coinbase与该机构有关其监管框架的任何企图的任何尝试。

"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."

该公司在一份声明中说：“尽管我们提供了合作以及该行业迫切需要明确的道路规则，但SEC还是选择提起这项诉讼。” “ Coinbase是一家合规的公司，我们为客户的最大利益行事。”

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告诉Benajmin Biader，Coinbase在标准普尔500指数中的包含在标准普尔500指数中，“包括由贝莱德，先锋街和州街管理的指数资金必须分配给Coinbase”。 “这意味着数十亿美元的被动投资将流入加密本地业务。”

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

根据S＆P DJII的2024年报告，大约10万亿美元的资产正在被动地跟踪标准普尔500指数。

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仅获得0.1％的加权（Habibi认为合理的份额），那么如果没有单个投资者积极选择加密货币敞口，它就可以从100亿美元中获得100亿美元的潜在资本流量。

"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.

基准分析师马克·帕尔默（Mark Palmer）告诉CNBC：“这是几个月前，该公司与SEC进行了激烈的法律斗争，这指控其平台是非法的，因为它正在贩运未注册的证券。”

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补充说，这使保守派投资组合中的加密货币暴露范围可以避免数字资产，并带来了机构投资者，退休计划和主权基金的间接采用，这具有更广泛的行业意义。

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

“我认为，进步的较大融合将增加基于区块链的协议和令牌化的机构采用。”

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.

尽管有些人可能会说这表明加密和贸易节经济部门的融合，但金认为这仍然为时过早。据她说，总体而言，加密货币仍然是整体经济的一小部分。

"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.

肯纳德说：“我们还没有完全融合，但我们绝对超越了分离阶段。”他也引用了加密ETF，但也指出了最近的事件，例如Galaxy Digital在本月纳斯达克交易所上的上市以及Coinbase作为多个ETF的保管人的角色，表明TradFi公司现在正在寻求针对某些基础设施需求的加密公司。

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

肯纳德补充说：“监管清晰度仍在出现，但是机构轨道的铺设迅速。”

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

更多的股权清单意味着加密公司可以将市场作为一个