一位前Blackstone高管和Tether联合创始人正在为加密货币投资筹集1B美元，而Tether面临监管审查和华尔街的Eyes Stablecoin竞赛。

Crypto Vehicle, Tether, and Wall Street: Navigating the New Landscape

加密汽车，系绳和华尔街：导航新景观

Wall Street's interest in crypto is heating up. A new crypto investment vehicle is emerging, while Tether faces increasing regulatory pressure, and competition in the stablecoin space intensifies. Let's break it down, New York style.

华尔街对加密货币的兴趣正在加热。一种新的加密投资工具正在出现，而系绳面临的监管压力越来越大，而在Stablecoin空间中的竞争也加剧了。让我们分解，纽约风格。

A Billion-Dollar Bet on Crypto

十亿美元押注加密货币

Imagine this: A former Blackstone big shot and a co-founder of Tether are joining forces to raise a cool $1 billion for a new crypto investment venture. They're talking about a listed investment fund that'll spread its bets across top cryptocurrencies like Bitcoin, Ethereum, and Solana. This ain't your grandma's investment strategy.

想象一下：一名前黑石大射击者和一家系带的联合创始人正在联合起来为新的加密投资投资公司筹集10亿美元。他们谈论的是上市的投资基金，该基金将其赌注遍及比特币，以太坊和索拉纳等顶级加密货币。这不是您奶奶的投资策略。

This project is happening through a special-purpose acquisition company (SPAC) called M3-Brigade Acquisition V Corp. Reeve Collins, the Tether co-founder, and Chinh Chu, ex-Blackstone private equity head honcho, are the masterminds. Financial advisory firm Cantor Fitzgerald is reportedly helping with the fundraising. It's like a Wall Street dream team meets the crypto world.

该项目是通过一家名为M3-Brigade Acquisition V Corp. Reeve Collins，Tether联合创始人的特殊用途收购公司（SPAC）进行的，而Ex-Blackstone Private Equity Honcho的Chinh Chu是策划者。据报道，金融咨询公司Cantor Fitzgerald正在帮助筹款。就像一支华尔街梦想团队遇到了加密世界一样。

This approach is different than just backing one horse. Instead of going all-in on Bitcoin like Japan’s Metaplanet or Michael Saylor’s Strategy, or focusing solely on Ethereum like SharpLink Gaming, this new vehicle aims to diversify across multiple tokens. The hope? Reduce risk and increase opportunities. Smart move, right?

这种方法与仅仅支持一匹马不同。这款新车不是像日本的Metaplanet或Michael Saylor的策略那样全力以赴，或者仅专注于Sharplink游戏等以太坊，而是旨在使多种代币多样化。希望？降低风险并增加机会。明智的举动，对吗？

Tether Under the Microscope

系绳

Meanwhile, Tether, the stablecoin giant, is facing some serious heat. The recently passed GENIUS Act could shake things up. This new legislation is all about strict regulations for stablecoin issuers, demanding detailed financial disclosures and reserve transparency. In other words, Tether's current model could be in jeopardy if they can't open up the books.

同时，Stablecoin巨人系绳束面临着严重的热量。最近通过的《天才法》可以动摇。这项新的立法是关于对Stablecoin发行人的严格法规，要求进行详细的财务披露和储备透明度。换句话说，如果系托特无法打开书籍，他们当前的模型可能会危及。

If this law goes through, stablecoin issuers will have to provide monthly, audited reports showing exactly what's backing their tokens. Regulators are worried about the liquidity of those reserve assets, especially during market chaos. Tether's use of assets like Bitcoin and gold, combined with limited transparency, could make compliance a headache, according to a Wall Street Journal report.

如果这项法律通过，Stablecoin发行人将必须每月提供经过审核的报告，以确切地显示其支持令牌。监管机构担心这些储备资产的流动性，尤其是在市场混乱期间。根据《华尔街日报》的一份报告，系塞对比特币和黄金等资产的使用，加上有限的透明度，可能会使合规性头疼。

Sure, Tether holds a good chunk of its reserves in U.S. Treasury bills, which are considered safe. But regulators are still cautious. As stablecoins become more widespread, they could create new risks in the short-term Treasury market. The GENIUS Act also requires stablecoin companies to register with U.S. regulators, unless they're based in a foreign country with similar oversight. Given that Tether is headquartered in El Salvador, its ability to keep serving U.S. users might depend on whether American authorities consider Salvadoran regulations up to snuff.

当然，系带有大部分在美国国库账单中的储备，这些储量被认为是安全的。但是监管机构仍然谨慎。随着Stablecoins变得越来越普遍，它们可能会在短期国库市场中产生新的风险。 《天才法》还要求稳定公司在美国监管机构中注册，除非他们以相似监督的外国为基础。鉴于系tether的总部位于萨尔瓦多，其继续为美国用户服务的能力可能取决于美国当局是否考虑萨尔瓦多法规。

Competition Heats Up in the Stablecoin Arena

竞争在Stablecoin竞技场升温

As Tether navigates these regulatory challenges, competition is brewing. Shares of crypto companies like Circle (CRCL), issuer of the USDC stablecoin, have seen volatility as Wall Street anticipates rising competition in the digital token space following the Senate passage of the GENIUS Act. Additionally, companies like BTCS Inc. (BTCS) are diving into the stablecoin market, announcing plans to launch their own digital asset platform, including a new stablecoin (FIUSD).

当系绳面对这些监管挑战时，竞争正在酝酿之中。 USDC Stablecoin的发行人Circle（CRCL）等加密公司的股票看到了波动性，因为华尔街预计《天才法案》参议院通过后，数字代币领域的竞争不断上升。此外，BTCS Inc.（BTC）等公司正在进入Stablecoin市场，宣布计划启动自己的数字资产平台，包括新的Stablecoin（Fiusd）。

Wall Street's Take: Coinbase Could Benefit

华尔街的看法：Coinbase可以受益

While Tether might be sweating the new regulations, crypto exchange Coinbase (COIN) could actually benefit. Wall Street analysts have a Moderate Buy consensus rating on COIN stock, though the average COIN price target implies some downside risk. Still, it's a sign that Wall Street sees potential in the evolving crypto landscape.

尽管系绳可能会流汗新法规，但加密交易所Coinbase（Coin）实际上可以受益。华尔街分析师对硬币股票的共识评级为中等，尽管平均硬币价格目标意味着某些下行风险。尽管如此，华尔街表明在不断发展的加密景观中有潜力。

Final Thoughts

最后的想法

So, what's the bottom line? Wall Street is increasingly interested in crypto, but with that comes increased scrutiny and competition. From new investment vehicles to regulatory crackdowns and rising competition, the crypto world is anything but boring. Buckle up, because it's going to be a wild ride!

那么，最重要的是什么？华尔街对加密货币越来越感兴趣，但随之而来的是审查和竞争。从新的投资工具到监管镇压和不断上升的竞争，加密货币世界并不无聊。扣紧，因为这将是一个疯狂的旅程！