Pantera Capital的创始人兼首席执行官Dan Morehead表示，加密货币行业有望看到大量的公共产品

投入：Pantera Capital的创始人兼首席执行官Dan Morehead周五表示，加密货币行业有望看到大量的公开发行，诸如Circle USDC/USD（USDC/USD）和数字等公司在未来几个月内准备公开。

Dan Morehead, founder and CEO of Pantera Capital, predicts a surge of public offerings from crypto companies in the coming months, with companies like Circle USDC/USD and Figure among those preparing to apply to go public.

Pantera Capital的创始人兼首席执行官Dan Morehead预测，在未来几个月中，加密公司的公共产品涌现，Circle USDC/USD等公司以及准备公开申请公开的公司。

What Happened: Morehead's comments come amid what he described as a “flipping” of the U.S. regulatory environment, from a hostile stance to one that is now either “positive or at least neutral.”

发生的事情：莫尔黑德（Morehead）的评论是在他所说的美国监管环境中的“翻转”中，从敌对的立场到现在“积极或至少中立”的立场。

He attributed this shift to multiple policy developments, including the SEC's rollback of Staff Accounting Bulletin 121, and new OCC guidance enabling banks to interact more directly with blockchain infrastructure.

他将这一转变归因于多个政策的发展，包括SEC的员工会计公告121的回滚，以及新的OCC指导，使银行能够与区块链基础设施更直接互动。

Combined, he said, these actions are unlocking long-constrained potential.

他说，这些行动结合起来，释放了长期以来的潜力。

“There are a lot of great companies that maybe should have gone public a few years ago. In the next six months you're going to see a wave of great companies like Circle and Figure go public.”

“几年前可能有很多伟大的公司应该在公开场合公开。在接下来的六个月中，您将看到一波伟大的公司，例如Circle and Figure Go Pupplion。”

Morehead also noted strong demand from public investors.

莫尔黑德还指出了公共投资者的强烈需求。

“MicroStrategy and other coin-based stocks prove people really want to invest in blockchain companies.”

“ MicroStrategy和其他基于硬币的股票证明人们确实希望投资区块链公司。”

He emphasized this is not a short-term spike, but rather the beginning of a broader trend.

他强调，这不是短期的尖峰，而是更广泛的趋势的开始。

“All of these companies have been kind of stuck in the pipe for the last two or three years. Now that they’re going public and each are public today, it's trading up 35%, encourages other companies to go public. So I think it’s a big new trend.”

“在过去的两三年中，所有这些公司都被困在管道上。现在他们公开了，每家都公开了，交易35％，鼓励其他公司公开。因此，我认为这是一个新趋势。”

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Why It Matters: Pantera's optimism also stems from the rise of real-world assets on the blockchain, particularly in areas like stablecoins, tokenized treasuries, and on-chain mortgages.

它为什么重要：Pantera的乐观情绪也源于区块链上现实世界中的资产的兴起，尤其是在Stablecoins，Stablecoins，sikenized Teareasuries和On-Chain抵押贷款等地区。

Morehead highlighted projects like Ondo Finance ONDO/USD and Figure, which Pantera has backed. He noted that Figure has already issued $40 billion worth of mortgages on blockchain rails, shaving off "over 100 basis points of friction."

莫尔黑德（Morehead）强调了Pantera支持的项目，例如Ondo Finance Ondo/USD和Figure。他指出，数字已经在区块链铁轨上发行了价值400亿美元的抵押贷款，剃掉了“超过100个基摩擦点”。

When asked what further developments are needed to accelerate industry growth, Morehead highlighted regulatory clarity.

当被问及需要采取什么进一步发展以加速行业的增长时，莫尔黑德强调了法规清晰度。

"Uncertainty in the U.S. has driven innovation offshore," he said, adding that many companies previously relocated to jurisdictions like Singapore and the UAE due to hostility at home.

他说：“美国的不确定性已将创新驱动到海上。”他补充说，由于敌对的敌意，许多公司以前搬迁到新加坡和阿联酋等司法管辖区。

With the U.S. now appearing more open to blockchain innovation, he expects talent and capital to flow back.

随着美国现在对区块链创新的开放，他希望人才和资本能够返回。

Pantera is also actively participating in policy conversations in Washington.

Pantera还积极参加华盛顿的政策对话。

"We're heavily involved in a couple industry think tanks that advise the government. It's very important that blockchain happens in the U.S. rather than offshore."

“我们很大程度上参与了一个为政府提供建议的行业智囊团。在美国而不是海上发生区块链的情况非常重要。”

As more companies up-list from international exchanges such as the TSX to U.S. markets, Morehead views this as a reversal of previous trends.

随着越来越多的公司从TSX等国际交流到美国市场，莫尔黑德认为这是对先前趋势的逆转。

"The U.S. has really been unique. Most countries have been neutral. Now the U.S. is going from being antagonistic to positive, and that helps people want a base in the U.S."

“美国确实是独一无二的。大多数国家都是中立的。现在，美国正在从对抗到积极，这有助于人们希望在美国建立基地”