{"id":1284,"date":"2025-06-24T22:17:19","date_gmt":"2025-06-24T14:17:19","guid":{"rendered":"https:\/\/www.db-hk.com\/?p=1284"},"modified":"2025-06-24T22:17:19","modified_gmt":"2025-06-24T14:17:19","slug":"%e5%94%90%e7%ba%b3%e5%be%b7%c2%b7%e7%89%b9%e6%9c%97%e6%99%ae%e8%b5%a2%e5%be%97%e5%a4%a7%e9%80%89%e5%90%8e%ef%bc%8c%e5%8a%a0%e5%af%86%e8%a1%8c%e4%b8%9a%e4%b8%8b%e4%b8%80%e6%ad%a5%e5%b0%86%e4%bd%95","status":"publish","type":"post","link":"http:\/\/www.fubairui.net\/?p=1284","title":{"rendered":"\u5510\u7eb3\u5fb7\u00b7\u7279\u6717\u666e\u8d62\u5f97\u5927\u9009\u540e\uff0c\u52a0\u5bc6\u884c\u4e1a\u4e0b\u4e00\u6b65\u5c06\u4f55\u53bb\u4f55\u4ece\uff1f"},"content":{"rendered":"

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1\u3001\u65b0\u7684 SEC \u4e3b\u5e2d<\/strong><\/p>\n

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\u5c3d\u7ba1\u6839\u65af\u52d2\u53ef\u80fd\u9009\u62e9\u5728\u7279\u6717\u666e\u653f\u5e9c\u4e2d\u7ee7\u7eed\u62c5\u4efb SEC \u59d4\u5458\uff0c\u4f46\u6709\u6d88\u606f\u79f0\uff0c\u4ed6\u5f88\u6709\u53ef\u80fd\u4f1a\u9009\u62e9\u8f9e\u804c\u3002<\/p>\n

\u5173\u4e8e\u8c01\u5c06\u63a5\u4efb\u4e3b\u5e2d\u804c\u4f4d\uff0c\u5916\u754c\u666e\u904d\u731c\u6d4b\u7279\u6717\u666e\u53ef\u80fd\u4f1a\u4efb\u547d\u73b0\u4efb\u5171\u548c\u515a\u7c4d SEC \u59d4\u5458 Hester Peirce\uff0c\u5979\u56e0\u5728\u52a0\u5bc6\u8d27\u5e01\u9886\u57df\u7684\u652f\u6301\u6001\u5ea6\u800c\u88ab\u79f0\u4e3a\u300c\u52a0\u5bc6\u5988\u5988\u300d\u3002Peirce \u957f\u671f\u4ee5\u6765\u6279\u8bc4 SEC \u5bf9\u8be5\u9886\u57df\u7684\u6267\u6cd5\u884c\u52a8\u4ee5\u53ca\u5728\u88ab\u8d77\u8bc9\u524d\u672a\u6279\u51c6\u73b0\u8d27\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u4ea7\u54c1\u7684\u505a\u6cd5\u3002\u7136\u800c\uff0cPeirce \u6b64\u524d\u8868\u793a\u81ea\u5df1\u5e76\u4e0d\u611f\u5174\u8da3\u62c5\u4efb\u4e3b\u5e2d\u804c\u4f4d\uff0c\u8fd9\u4f7f\u5f97\u552f\u4e00\u53e6\u4e00\u4f4d\u5171\u548c\u515a\u7c4d\u59d4\u5458 Mark Uyeda \u6210\u4e3a\u70ed\u95e8\u4eba\u9009\uff0c\u4ed6\u540c\u6837\u5bf9\u52a0\u5bc6\u8d27\u5e01\u6301\u53cb\u597d\u6001\u5ea6\u3002\u53e6\u4e00\u65b9\u9762\uff0c\u7279\u6717\u666e\u4e5f\u53ef\u80fd\u63d0\u540d\u4e00\u4f4d\u65b0\u7684\u59d4\u5458\uff0c\u6709\u5206\u6790\u6307\u51fa\uff0c\u524d CFTC \u4e3b\u5e2d Chris Giancarlo \u662f\u4e00\u4e2a\u88ab\u8003\u8651\u7684\u4eba\u9009\u3002<\/p>\n

Variant Fund \u7684\u9996\u5e2d\u6cd5\u5f8b\u5b98 Jake Chervinsky \u8868\u793a\uff0cPeirce \u6210\u4e3a\u4e3b\u5e2d\u7684\u51e0\u7387\u5f88\u4f4e\uff0c\u56e0\u4e3a\u5979\u4f3c\u4e4e\u5e76\u4e0d\u60f3\u8981\u8fd9\u4e2a\u804c\u4f4d\u3002\u4ed6\u8ba4\u4e3a\uff1a\u300cUyeda \u4e0a\u4efb\u7684\u6982\u7387\u4e0d\u5c0f\uff0c\u4f46\u6211\u9884\u8ba1\u7279\u6717\u666e\u53ef\u80fd\u66f4\u503e\u5411\u4e8e\u4efb\u547d\u81ea\u5df1\u9009\u4e2d\u7684\u65b0\u4eba\u3002\u300d\u4ed6\u8865\u5145\u9053\uff1a\u300c\u5b9e\u9645\u4e0a\uff0c\u62c5\u4efb\u4e3b\u5e2d\u662f\u4e00\u4e2a\u975e\u5e38\u8270\u96be\u4e14\u4e0d\u8ba8\u597d\u7684\u804c\u4f4d\u3002\u4e00\u4e9b\u59d4\u5458\uff08\u6bd4\u5982 Uyeda\uff09\u53ef\u80fd\u4f1a\u6709\u5174\u8da3\uff0c\u4f46\u53e6\u4e00\u4e9b\u4eba\u53ef\u80fd\u89c9\u5f97\u81ea\u5df1\u5df2\u7ecf\u5c3d\u804c\u5230\u4f4d\uff0c\u5e0c\u671b\u53bb\u8ffd\u6c42\u65b0\u7684\u673a\u4f1a\u3002\u300d<\/p>\n

\u4e0d\u8fc7\uff0c\u8ddd\u79bb\u7279\u6717\u666e\u6b63\u5f0f\u4e0a\u4efb\u8fd8\u6709\u4e24\u4e2a\u534a\u6708\uff0c\u5728\u65b0\u9886\u5bfc\u5c42\u63a5\u7ba1\u8054\u90a6\u673a\u6784\u4e4b\u524d\uff0c\u52a0\u5bc6\u653f\u7b56\u53ef\u80fd\u4f1a\u6709\u6240\u53d8\u52a8\u3002Chervinsky \u8b66\u544a\u79f0\uff0c\u5728\u6b64\u671f\u95f4\uff0c\u73b0\u4efb\u653f\u5e9c\u53ef\u80fd\u4f1a\u300c\u5fd9\u4e8e\u6572\u5b9a\u5404\u9879\u89c4\u5219\u5e76\u53d1\u8d77\u6267\u6cd5\u884c\u52a8\u300d\u3002<\/p>\n

\u4ed6\u8868\u793a\uff1a\u300c\u7279\u6717\u666e\u7684\u9996\u8981\u52a0\u5bc6\u653f\u7b56\u4efb\u52a1\u5fc5\u987b\u662f\u7ec8\u7ed3\u62dc\u767b\u901a\u8fc7\u6267\u6cd5\u6253\u538b\u884c\u4e1a\u7684\u4f01\u56fe\u3002\u8fd9\u610f\u5473\u7740\u8981\u64a4\u9500 SEC \u4e0d\u5408\u7406\u7684\u6267\u6cd5\u884c\u52a8\u4ee5\u53ca\u53f8\u6cd5\u90e8\u5bf9 Tornado Cash \u7684\u8d77\u8bc9\u3002\u300d<\/p>\n

2\u3001\u4eb2\u52a0\u5bc6\u7684\u76d1\u7ba1<\/strong><\/p>\n

\u5728\u7279\u6717\u666e\u653f\u5e9c\u9886\u5bfc\u4e0b\uff0c\u63a8\u8fdb\u300a\u6bd4\u7279\u5e01\u6cd5\u6848\u300b\u6210\u4e3a\u6700\u53d7\u671f\u5f85\u7684\u653f\u7b56\u4e4b\u4e00\uff0c\u5373\u5c06\u6bd4\u7279\u5e01\u786e\u7acb\u4e3a\u6218\u7565\u50a8\u5907\u8d44\u4ea7\uff0c\u8ba1\u5212\u8ba9\u7f8e\u56fd\u653f\u5e9c\u6301\u6709\u591a\u8fbe\u6bd4\u7279\u5e01\u603b\u4f9b\u5e94\u91cf\uff082100 \u4e07\u679a\uff09\u7684 5%\u3002\u8fd9\u4e00\u6cd5\u6848\u7684\u6b63\u5f0f\u540d\u79f0\u4e3a\u300a2024 \u5e74\u901a\u8fc7\u5168\u56fd\u4f18\u5316\u6295\u8d44\u4fc3\u8fdb\u521b\u65b0\u3001\u6280\u672f\u548c\u7ade\u4e89\u529b\u6cd5\u6848\u300b\uff0c\u7b80\u79f0\u4e3a\u300a2024 \u5e74\u6bd4\u7279\u5e01\u6cd5\u6848\u300b\uff0c\u7531\u6000\u4fc4\u660e\u5dde\u5171\u548c\u515a\u53c2\u8bae\u5458 Cynthia Lummis \u4e8e\u4eca\u5e74 7 \u6708\u63d0\u51fa\u3002<\/p>\n

\u5728\u9009\u4e3e\u7ed3\u679c\u516c\u5e03\u540e\uff0c\u5510\u7eb3\u5fb7\u00b7\u7279\u6717\u666e\u8d62\u5f97\u603b\u7edf\u5927\u9009\uff0c\u5171\u548c\u515a\u91cd\u65b0\u63a7\u5236\u53c2\u8bae\u9662\uff0c\u5e76\u6709\u671b\u7ee7\u7eed\u638c\u63a7\u4f17\u8bae\u9662\u3002Lummis \u5728 X \u5e73\u53f0\u4e0a\u53d1\u6587\u8868\u793a\uff1a\u300c\u6211\u4eec\u5c06\u5efa\u7acb\u6218\u7565\u6bd4\u7279\u5e01\u50a8\u5907\u3002\u300d<\/p>\n

Presto \u7684\u5206\u6790\u5e08 Peter Chung \u548c Min Jung \u89e3\u91ca\u9053\uff1a\u300c\u5982\u679c\u5171\u548c\u515a\u5b9e\u73b0\u5bf9\u603b\u7edf\u3001\u53c2\u8bae\u9662\u548c\u4f17\u8bae\u9662\u7684\u5168\u9762\u638c\u63a7\uff0c\u90a3\u4e48\u5305\u62ec Lummis \u7684\u6bd4\u7279\u5e01\u6218\u7565\u50a8\u5907\u6cd5\u6848\u5728\u5185\u7684\u8bb8\u591a\u52a0\u5bc6\u76f8\u5173\u6cd5\u6848\u5728\u56fd\u4f1a\u901a\u8fc7\u7684\u673a\u4f1a\u5c06\u5927\u5927\u589e\u52a0\u3002\u300d<\/p>\n

\u5728\u4eca\u5e74\u590f\u5929\u4e8e\u7eb3\u4ec0\u7ef4\u5c14\u4e3e\u884c\u7684 2024 \u5e74\u6bd4\u7279\u5e01\u5927\u4f1a\u4e0a\uff0cIkigai \u7684\u9996\u5e2d\u6295\u8d44\u5b98 Travis Kling \u66fe\u8868\u793a\uff0c\u4ed6\u8ba4\u4e3a\u8fd9\u4e00\u8ba1\u5212\u51e0\u4e4e\u4e0d\u592a\u53ef\u80fd\u5b9e\u73b0\u3002\u300c\u8fd9\u542c\u8d77\u6765\u50cf\u662f\u4e2a\u8de8\u8d8a\u4e0d\u4e86\u7684\u9e3f\u6c9f\uff0c\u51e0\u4e4e\u8ba9\u4eba\u89c9\u5f97\u8fc7\u4e8e\u4e50\u89c2\u800c\u96be\u4ee5\u7f6e\u4fe1\u3002\u4f46\u968f\u7740\u5171\u548c\u515a\u7684\u5f3a\u52bf\u80dc\u9009\uff0c\u8fd9\u4e00\u8ba1\u5212\u7684\u53ef\u80fd\u6027\u5927\u5e45\u4e0a\u5347\u3002\u5982\u679c\u771f\u7684\u5b9e\u73b0\uff0c\u90a3\u6211\u4eec\u771f\u8981\u5171\u8d62\u4e86\uff08WAGMI\uff0c\u610f\u4e3a\u300e\u6211\u4eec\u90fd\u4f1a\u6210\u529f\u300f\uff09\u3002\u300d<\/p>\n

CoinShares \u7814\u7a76\u4e3b\u7ba1 James Butterfill \u5728\u5468\u4e09\u64b0\u6587\u8868\u793a\uff0c\u8fd9\u4e00\u4e3e\u63aa\u5c06\u4f7f\u6bd4\u7279\u5e01\u5730\u4f4d\u7c7b\u4f3c\u4e8e\u9ec4\u91d1\uff0c\u4f7f\u5176\u6210\u4e3a\u56fd\u5bb6\u50a8\u5907\u7684\u4e00\u90e8\u5206\uff0c\u5e76\u6807\u5fd7\u7740\u5411\u5408\u6cd5\u5316\u8fc8\u51fa\u7684\u5386\u53f2\u6027\u4e00\u6b65\u3002\u4ed6\u8868\u793a\uff1a\u300c\u5982\u679c\u300a\u6bd4\u7279\u5e01\u6cd5\u6848\u300b\u5f97\u4ee5\u5b9e\u65bd\uff0c\u53ef\u80fd\u4f1a\u5927\u5927\u6fc0\u53d1\u673a\u6784\u548c\u653f\u5e9c\u5bf9\u6bd4\u7279\u5e01\u7684\u5174\u8da3\uff0c\u52a0\u901f\u5176\u589e\u957f\uff0c\u5e76\u63a8\u52a8\u5176\u4ef7\u503c\u8fbe\u5230\u65b0\u9ad8\u3002\u300d<\/p>\n

\u636e\u7814\u7a76\u548c\u7ecf\u7eaa\u516c\u53f8 Bernstein \u7684\u5206\u6790\u5e08\u79f0\uff0c\u7279\u6717\u666e\u7684\u80dc\u9009\u4f7f\u52a0\u5bc6\u8d27\u5e01\u7684\u76d1\u7ba1\u73af\u5883\u4ece\u9006\u98ce\u8f6c\u53d8\u4e3a\u987a\u98ce\uff0c\u9884\u8ba1\u53c2\u8bae\u9662\u94f6\u884c\u59d4\u5458\u4f1a\u4e5f\u5c06\u66f4\u52a0\u4eb2\u52a0\u5bc6\u8d27\u5e01\u3002\u8fd9\u610f\u5473\u7740\u5176\u4ed6\u52a0\u5bc6\u7acb\u6cd5\u5c06\u8fdb\u5c55\u66f4\u5feb\uff0c\u5c24\u5176\u662f\u5728\u7a33\u5b9a\u5e01\u548c\u5e02\u573a\u7ed3\u6784\u6cd5\u6848\u65b9\u9762\uff0c\u8fd9\u5c06\u6709\u5229\u4e8e\u7f8e\u56fd\u7684\u4ea4\u6613\u5e73\u53f0\u548c\u7a33\u5b9a\u5e01\u53d1\u884c\u5546\uff0c\u5982 Circle \u548c Paxos\u3002<\/p>\n

Bitwise \u9996\u5e2d\u6295\u8d44\u5b98 Matt Hougan \u6307\u51fa\uff0c\u5728\u7279\u6717\u666e\u7684\u5176\u4ed6\u653f\u7b56\u627f\u8bfa\u4e2d\uff0c\u300c\u627c\u6740\u884c\u52a8 2.0\u300d\u7684\u7ec8\u7ed3\u5c06\u653e\u5bbd\u52a0\u5bc6\u8d27\u5e01\u63a5\u5165\u4f20\u7edf\u94f6\u884c\u7cfb\u7edf\u7684\u9650\u5236\u3002\u6b64\u5916\uff0c\u5e9f\u9664\u6709\u4e89\u8bae\u7684 SEC \u516c\u544a SAB 121\uff0c\u53ef\u80fd\u4f1a\u4e3a\u4f20\u7edf\u94f6\u884c\u63a5\u7eb3\u66f4\u591a\u52a0\u5bc6\u516c\u53f8\u4f5c\u4e3a\u5ba2\u6237\u94fa\u5e73\u9053\u8def\uff0c\u5e76\u4f7f\u5176\u80fd\u591f\u81ea\u884c\u6301\u6709\u548c\u6258\u7ba1\u6bd4\u7279\u5e01\u3002<\/p>\n

\u7136\u800c\uff0c\u9009\u4e3e\u540e\u7684\u4e00\u4e2a\u4e0d\u53d8\u56e0\u7d20\u662f\u7f8e\u56fd 36 \u4e07\u4ebf\u7f8e\u5143\u7684\u8d64\u5b57\uff0c\u6bcf 100 \u5929\u589e\u52a0 1 \u4e07\u4ebf\u7f8e\u5143\u3002Hougan \u6307\u51fa\uff0c\u6839\u636e\u56fd\u4f1a\u9884\u7b97\u529e\u516c\u5ba4\u7684\u9884\u6d4b\uff0c\u5728\u7279\u6717\u666e\u653f\u7b56\u4e0b\uff0c\u8fd9\u4e00\u8d8b\u52bf\u53ef\u80fd\u4f1a\u6301\u7eed\uff0c\u751a\u81f3\u6076\u5316\u3002\u7531\u4e8e\u7f8e\u8054\u50a8\u53ef\u80fd\u964d\u606f\uff0c\u52a0\u4e0a\u4e0d\u786e\u5b9a\u7684\u7ecf\u6d4e\u73af\u5883\uff0c\u6bd4\u7279\u5e01\u5c06\u6210\u4e3a\u6295\u8d44\u8005\u300c\u5fc5\u5907\u300d\u7684\u8d44\u4ea7\u3002<\/p>\n

3\u3001\u6bd4\u7279\u5e01\u6316\u77ff\u6fc0\u52b1\u548c\u91ca\u653e Ross Ulbricht\uff08\u6697\u7f51\u5e02\u573a\u300c\u4e1d\u7ef8\u4e4b\u8def\u300dSilk Road \u7684\u521b\u59cb\u4eba\uff09<\/strong><\/p>\n

\u9488\u5bf9\u7f8e\u56fd\u6bd4\u7279\u5e01\u77ff\u5de5\u7684\u6fc0\u52b1\u63aa\u65bd\uff0c\u53ef\u80fd\u4f1a\u8fdb\u4e00\u6b65\u6269\u5927\u76ee\u524d\u56fd\u5185\u4e0a\u5e02\u8fd0\u8425\u5546\u7684\u4e3b\u5bfc\u5730\u4f4d\u548c\u6574\u5408\u8d8b\u52bf\u3002\u8fd9\u79cd\u60c5\u51b5\u53ef\u80fd\u4f1a\u5f71\u54cd\u5230\u8be5\u884c\u4e1a\u5728\u51cf\u534a\u540e\u8270\u96be\u73af\u5883\u4e2d\u5411 AI \u6570\u636e\u4e2d\u5fc3\u6258\u7ba1\u9886\u57df\u591a\u5143\u5316\u53d1\u5c55\u7684\u73b0\u72b6\u3002<\/p>\n

\u6700\u540e\uff0c\u7279\u6717\u666e\u5728\u52a0\u5bc6\u793e\u533a\u4e43\u81f3\u66f4\u5e7f\u6cdb\u4eba\u7fa4\u4e2d\u6700\u53d7\u6b22\u8fce\u7684\u627f\u8bfa\u4e4b\u4e00\uff0c\u53ef\u80fd\u662f\u5728\u5c31\u804c\u540e\u91ca\u653e Ross Ulbricht\u3002Ulbricht \u56e0\u521b\u5efa\u548c\u8fd0\u8425\u6697\u7f51\u5e02\u573a\u300c\u4e1d\u7ef8\u4e4b\u8def\u300d\u800c\u88ab\u5224\u5904\u65e0\u671f\u5f92\u5211\uff0c\u4e0d\u5f97\u5047\u91ca\u3002\u8be5\u7f51\u7ad9\u4e0e\u6bd4\u7279\u5e01\u7684\u65e9\u671f\u5386\u53f2\u5bc6\u5207\u76f8\u5173\u3002<\/p>\n

\u6bd4\u7279\u5e01\u65e9\u671f\u73a9\u5bb6 Amir Taaki \u5728\u5468\u4e09\u8fc5\u901f\u63d0\u9192\u5f53\u9009\u603b\u7edf\u7279\u6717\u666e\u5c65\u884c\u627f\u8bfa\uff0c\u4e3a Ulbricht \u51cf\u5211\uff0c\u5e76\u6566\u4fc3\u5c3d\u5feb\u91ca\u653e\u4ed6\u3002Taaki \u8868\u793a\uff1a\u300c\u6211\u6b20 Ross Ulbricht \u4e00\u5207\u3002\u52a0\u5bc6\u8d27\u5e01\u6539\u53d8\u4e86\u6211\u7684\u4eba\u751f\u3002\u52a0\u5bc6\u8d27\u5e01\u4e4b\u6240\u4ee5\u80fd\u58ee\u5927\uff0c\u79bb\u4e0d\u5f00\u4ed6\u7684\u8d21\u732e\u3002\u4ed6\u505a\u51fa\u4e86\u7ec8\u6781\u727a\u7272\uff0c\u6211\u4eec\u6240\u6709\u4eba\u90fd\u4ece\u4ed6\u7684\u5de5\u4f5c\u4e2d\u53d7\u76ca\u3002\u300d<\/p>\n

4\u3001\u5e02\u573a\u5f71\u54cd<\/strong><\/p>\n

CoinShares \u7684 Butterfill \u6307\u51fa\uff0c\u7279\u6717\u666e\u63d0\u8bae\u4efb\u547d\u4ebf\u4e07\u5bcc\u7fc1\u652f\u6301\u8005\u57c3\u9686\u00b7\u9a6c\u65af\u514b\u9886\u5bfc\u4e00\u4e2a\u65b0\u7684\u300c\u653f\u5e9c\u6548\u7387\u90e8\u300d\uff0c\u8d1f\u8d23\u524a\u51cf\u7ea6 2 \u4e07\u4ebf\u7f8e\u5143\u7684\u8054\u90a6\u5f00\u652f\uff0c\u8fd9\u610f\u5473\u7740\u672a\u6765\u53ef\u80fd\u4f1a\u91c7\u53d6\u66f4\u52a0\u5bbd\u677e\u7684\u8d27\u5e01\u653f\u7b56\u6765\u5e73\u8861\u8fd9\u4e00\u8ba1\u5212\u3002\u4ed6\u8868\u793a\uff0c\u5386\u53f2\u4e0a\uff0c\u5bbd\u677e\u7684\u8d27\u5e01\u653f\u7b56\u548c\u8d22\u653f\u4fdd\u5b88\u4e3b\u4e49\u6709\u5229\u4e8e\u6bd4\u7279\u5e01\uff0c\u589e\u5f3a\u4e86\u5176\u4f5c\u4e3a\u5bf9\u51b2\u8d27\u5e01\u8d2c\u503c\u548c\u901a\u80c0\u7684\u5438\u5f15\u529b\uff0c\u5438\u5f15\u90a3\u4e9b\u5bfb\u6c42\u89c4\u907f\u4f20\u7edf\u7ecf\u6d4e\u98ce\u9669\u7684\u6295\u8d44\u8005\u3002<\/p>\n

BRN \u5206\u6790\u5e08 Valentin Fournier \u8868\u793a\uff1a\u300c\u7279\u6717\u666e\u7684\u5f53\u9009\u4e3a\u5e02\u573a\u63d0\u4f9b\u4e86\u5f3a\u52b2\u7684\u770b\u6da8\u7406\u7531\uff0c\u9884\u8ba1\u5373\u5c06\u5230\u6765\u7684\u964d\u606f\u548c\u5168\u7403\u523a\u6fc0\u63aa\u65bd\u5c06\u8fdb\u4e00\u6b65\u63d0\u632f\u7ecf\u6d4e\uff0c\u5e76\u652f\u6301\u6bd4\u7279\u5e01\u7684\u8868\u73b0\u3002\u5c3d\u7ba1\u7279\u6717\u666e\u8981\u5230\u660e\u5e74 1 \u6708\u624d\u6b63\u5f0f\u4e0a\u4efb\uff0c\u4f46\u6211\u4eec\u9884\u8ba1\u6bd4\u7279\u5e01\u5c06\u5728\u5e74\u5e95\u524d\u7ef4\u6301\u5f3a\u52bf\u3002\u300d\u4ed6\u8fd8\u63d0\u5230\uff1a\u300c\u4ee5\u592a\u574a\u5728\u8fc7\u53bb\u4e09\u5929\u91cc\u4e0a\u6da8\u4e86 20%\uff0c\u5728\u6b64\u524d\u8868\u73b0\u4e0d\u4f73\u7684\u60c5\u51b5\u4e0b\u7565\u5fae\u7f29\u5c0f\u4e86\u4e0e\u6bd4\u7279\u5e01\u7684\u5dee\u8ddd\u3002\u7136\u800c\uff0c\u6211\u4eec\u8ba4\u4e3a\u8fd9\u6ce2\u6da8\u52bf\u662f\u6682\u65f6\u7684\uff0c\u6bd4\u7279\u5e01\u53ef\u80fd\u4f1a\u5728\u63a5\u4e0b\u6765\u7684\u51e0\u5468\u5185\u7ee7\u7eed\u9886\u5148\u3002\u300d<\/p>\n

\u6839\u636e The Block \u7684\u4ef7\u683c\u9875\u9762\u663e\u793a\uff0c\u6bd4\u7279\u5e01\u5f53\u524d\u4ea4\u6613\u4ef7\u683c\u4e3a 74967 \u7f8e\u5143\uff0c\u8fc7\u53bb 24 \u5c0f\u65f6\u5185\u4e0a\u6da8\u4e86 1.7%\uff0c\u5e74\u521d\u81f3\u4eca\u4e0a\u6da8\u4e86 77.4%\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u4ee5\u592a\u574a\u76ee\u524d\u7684\u4ea4\u6613\u4ef7\u683c\u4e3a 2,818 \u7f8e\u5143\uff0c\u5728\u8fc7\u53bb 24 \u5c0f\u65f6\u5185\u4e0a\u6da8\u4e86 7.6%\u3002\u7136\u800c\uff0c\u4eca\u5e74\u4ee5\u6765\u4ee5\u592a\u574a\u7684\u6da8\u5e45\u4e3a 23.7%\uff0c\u8868\u73b0\u4e0d\u53ca\u5176\u4ed6\u52a0\u5bc6\u8d44\u4ea7\u3002<\/p>\n

Bitget Research \u9996\u5e2d\u5206\u6790\u5e08 Ryan Lee \u8868\u793a\uff1a\u300c\u968f\u7740\u7279\u6717\u666e\u518d\u6b21\u5f53\u9009\u603b\u7edf\uff0c\u5e02\u573a\u7684\u521d\u6b65\u53cd\u5e94\u53ef\u80fd\u662f\u573a\u5916\u8d44\u91d1\u56e0\u6050\u60e7\u800c\u5165\u573a\uff0c\u63a8\u52a8\u6bd4\u7279\u5e01\u4ef7\u683c\u521b\u4e0b\u65b0\u9ad8\u3002\u672a\u6765\u51e0\u5929\uff0cBTC ETF \u6216\u5c06\u51fa\u73b0\u51c0\u6d41\u5165\uff0c\u8fd9\u8868\u660e\u534e\u5c14\u8857\u673a\u6784\u5bf9\u5e02\u573a\u524d\u666f\u6301\u4e50\u89c2\u6001\u5ea6\u3002\u671f\u8d27\u5e02\u573a\u7684\u591a\u7a7a\u6bd4\u4f4e\u4e8e 1\uff0c\u8fd9\u610f\u5473\u7740\u52a0\u5bc6\u5e02\u573a\u4e2d\u7684\u673a\u6784\u6295\u8d44\u8005\u6b63\u5728\u901a\u8fc7\u671f\u8d27\u91c7\u53d6\u591a\u5934\u5934\u5bf8\u3002\u76ee\u524d\u5e02\u573a\u6b63\u5904\u4e8e\u4e00\u81f4\u770b\u6da8\u7684\u9636\u6bb5\u3002\u300d<\/p>\n

Bernstein \u7684\u5206\u6790\u5e08\u5728\u5468\u4e09\u91cd\u7533\u4e86\u4ed6\u4eec\u7684\u9884\u6d4b\uff0c\u9884\u8ba1\u6bd4\u7279\u5e01\u5c06\u5728\u4eca\u5e74\u5e74\u5e95\u63a5\u8fd1 90000 \u7f8e\u5143\uff0c\u5e76\u5728 2025 \u5e74\u8fbe\u5230 20 \u4e07\u7f8e\u5143\u7684\u725b\u5e02\u76ee\u6807\u3002Bitwise \u7684 Hougan \u4e5f\u6709\u7c7b\u4f3c\u7684\u9884\u6d4b\u76ee\u6807\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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