新 Galaxy 基金采用风险调整策略瞄准数字资产市场

Coinbase expanded its global footprint in the crypto derivatives market with the acquisition of Deribit but the company’s Q1 report prompted a Wall Street analyst to revise his target lower. In a note to clients on Friday, H.C. Wainwright analyst Mike Colonnese provided a detailed breakdown of Coinbase’s acquisition, earnings performance, and updated his outlook on the stock’s valuation. Coinbase to acquire Deribit in $2.9b deal In the largest crypto M&A deal to date, Coinbase announced plans to acquire Deribit for $2.9 billion, consisting of $700 million in cash and 11 million shares of Coinbase stock. Deribit is the world’s largest crypto options exchange with a 75% market share and over $30 billion in open interest. Analyst Mike Colonnese sees the deal as a strong strategic fit, immediately making Coinbase the leading global crypto derivatives platform, while accelerating its international expansion and boosting cross-sell potential with spot and futures trading. Deribit is expected to be accretive to profitability, given its consistent positive EBITDA track record. Q1 2025 earnings recap Coinbase reported Q1 revenue of $2.03 billion, slightly below expectations, with trading volumes falling 10% quarter-over-quarter to $393 billion. Retail volumes dropped 17%, while institutional volumes declined 9%. Transaction revenue came in at $1.26 billion, down 19% sequentially and short of consensus. Despite weaker transaction revenue, subscription and services revenue hit a record $698.1 million, up 9% quarter-over-quarter, driven by strong growth in USDC holdings and Coinbase One subscriptions. Adjusted EBITDA was $929.9 million (47.4% margin), below Q4’s $1.29 billion, while adjusted EPS was $1.94, in line with consensus. You might also like:Coinbase calls on remaining US states to drop confusing staking lawsuits Price target revised lower despite clear catalysts for growth Despite what the analyst describes as a “monumental” Deribit acquisition, Colonnese revised his 2025 and 2026 revenue estimates downward to $7.4 billion and $9.5 billion, respectively, citing weaker-than-expected transaction volumes. He also lowered his adjusted EPS forecasts to $5.92 and $12.11, with a price target lowered to $305 from $350. Still, the analyst remains optimistic about Coinbase’s long-term outlook, particularly as the regulatory environment evolves. “We believe greater regulatory clarity for crypto in the U.S., specifically as it relates to formal stablecoin and market structure legislation, which we could see this year, will prove to be a major tailwind for Coinbase, and will drive an acceleration of institutional participation into the space,” Colonnese wrote. In addition, more than 200 firms including BlackRock and PayPal already rely on Coinbase’s infrastructure and more tarditional finance institutions will find it beneficial “to seek out” Coinbase’s products and services rather than build their own. As such, “the stars are aligning for an extended bull market for crypto over the next 12 to 18 months,” the analyst wrote. You might also like:Coinbase CEO pushes congress to pass stablecoin bill before August

WCT jumped 11% following news that Jupiter stakers will be eligible for a token claim tied to WalletConnect’s Solana expansion. WalletConnect Token (WCT) jumped on Thursday as buzz spread about an upcoming airdrop tied to Solana (SOL), and some Jupiter stakers are now on the list. Following the news, the price of WCT rose 11.6% and is trading at $1.06, according to data from CoinGecko. The token has gained 276.8% over the past month, rising from $0.2814 on April 15. The price rally followed growing anticipation around WCT’s expansion to Solana. At the Solana Accelerate event, WalletConnect Foundation founder Pedro Gomes said the token would go live on the network later this month via Wormhole’s Native Token Transfers standard. You might also like:What Is WalletConnect & How Does It Work? Airdrop details haven’t been finalized yet, but the WalletConnect Foundation has confirmed that a 5 million WCT claim will be available for Solana users, with Jupiter, Phantom, Backpack, and Solflare helping identify eligible users and distribute tokens. “The goal is to identify real users, those already building, staking, and transacting on Solana. […] This follows the success of the 2024 token claim, which saw 50 million WCT distributed to early contributors across the WalletConnect ecosystem, previously in the Optimism and Ethereum ecosystems.” WalletConnect Foundation Despite the announcement, eligibility details and claim timelines are expected to be announced soon. With the launch on Solana, WCT becomes a multichain token after its earlier deployments on Ethereum and Optimism. Read more:WalletConnect rebrands to Reown, introduces WCT utility token

David Bailey’s Bitcoin-native holding company, Nakamoto, has pulled off a dramatic entrance into the public markets, raising $710 million and announcing a merger with healthcare firm KindlyMD to form one of the most ambitious Bitcoin treasuries to date.  The move positions the new entity as a publicly traded Bitcoin (BTC) conglomerate aimed at pushing BTC into the heart of global capital markets, according to a press release on the matter.  The deal includes a $510 million private placement and $200 million in convertible notes, marking the largest PIPE ever in a public crypto-related transaction.  Shares of KindlyMD surged more than 650% in premarket trading following the announcement. You might also like:Bank of Korea urges authority over won-based stablecoin issuance: report David Bailey’s input  Bailey, a longtime Bitcoin advocate and advisor to Donald Trump’s 2024 campaign, will take the reins as CEO of the combined company. His goal: to build a new breed of financial institution that uses Bitcoin as a core asset, akin to what Morgan or Rothschild once represented for fiat finance.  “Every balance sheet, public or private, will hold Bitcoin,” Bailey said in a statement. “We intend to be the first conglomerate designed for that world.” The newly merged company aims to increase its Bitcoin holdings per share—what Bailey calls “Bitcoin Yield”—through future equity and debt offerings. The idea is to offer public investors a transparent, compliant structure to gain Bitcoin exposure without directly buying BTC. While KindlyMD will continue operating its network of clinics focused on opioid reduction and alternative medicine, the merged entity’s real focus is financial.  The switch is backed by heavyweight crypto investors such as Adam Back, Balaji Srinivasan, and Jihan Wu. The merger gives Bailey a Nasdaq-listed vehicle to package Bitcoin into equities, bonds, and hybrids for global exchange listings. The company will retain the KDLY ticker for now, with a new name and symbol expected following shareholder approval. You might also like:Bitcoin price rises: New optimism fuels investor interest in mining contracts

披露：本文不代表投资建议。本页内容和材料仅供教育之用。 Pepe 币飙升 8.4%，而 Coldware 则凭借实际使用和可扩展性获得关注。 随着 Pepe 币 (PEPE) 的价格再次上涨 8.4%，市场情绪正在转向具有更强长期潜力的项目，例如 Coldware (COLD)。虽然 PEPE 继续呈现看涨模式，尤其是随着中心化交易所 (CEX) 资金流出增加，但 Coldware 正在利用其现实世界的应用和可扩展性来吸引鲸鱼和投资者，他们在下一次重大加密货币反弹之前分散投资组合。 你可能还喜欢：Ethena 持有者加入 Web3 设备最大加密货币分销商，Coldware 成为 Layer 1 的主要挑战者 鲸鱼将焦点转向 Coldware 随着 memecoin 爱好者注意到 Pepe 的反弹，精明的投资者和鲸鱼正在分散他们的投资组合。许多人将注意力转向了 Coldware，这是一种有可能颠覆金融服务以外行业的区块链解决方案。与主要受投机炒作驱动的 Pepe 不同，Coldware 专注于创建可在医疗保健、物流和零售等行业实施的去中心化应用程序。这种更广泛的实用性使 Coldware 成为希望对冲 PEPE 等 meme 币波动性的长期投资者的有吸引力的选择。 Pepe 币因 CEX 资金外流而价格飙升 在过去 24 小时内，Pepe 币的价格走势令人印象深刻，上涨了 8.4%。这一增长归因于中心化交易所的大量资金流出，这通常被视为加密货币市场的看涨信号。投资者正在将其持有的资产转移到自我托管，表明对 Pepe 币的长期前景充满信心。然而，与 Coldware 等项目相比，缺乏持续的发展和现实世界的用例限制了 PEPE 的增长潜力，Coldware 因其实用性和可扩展性而受到越来越多的关注。 Coldware：区块链领域的长期参与者 虽然 Pepe 受益于短期投机兴趣，但 Coldware 则将自己定位为长期参与者。Coldware (COLD) 专注于现实世界的区块链解决方案、可扩展性和去中心化应用程序，这使其有别于传统的 memecoin。随着市场的发展，Coldware 有可能实现大幅增长，尤其是随着越来越多的行业开始将区块链技术用于日常使用。Coldware 的战略发展和独特路线图使其成为 2025 年及以后有希望的投资机会。 结论 尽管 Pepe 短期内有所上涨，但 Coldware 有望在未来几个月实现更大增长。鲸鱼日益增长的兴趣和对现实世界应用的关注使 Coldware 比依赖投机市场趋势的 Pepe 具有明显优势。随着投资者继续寻求具有有形价值的项目，Coldwater 脱颖而出，成为区块链领域的顶级竞争者，在长期增长和采用方面有可能超越 Pepe。 欲了解更多信息，请访问网站并在 Telegram 和 Twitter 上关注该项目。 阅读更多：Coldware 成为 Solana 最有力的竞争对手，其快速崛起威胁到 Solana 的市场份额 披露：本内容由第三方提供。crypto.news 不认可本页提及的任何产品。用户在采取与该公司相关的任何行动之前，必须自行进行研究。

Bitcoin price has stalled at $105,000 amid increasing spot ETF outflows and as sentiment among investors turned to neutral.  Bitcoin (BTC) was trading at $105,550 on Sunday, June 8, up by 5% from its lowest point last week. It remains 5.75% below its highest point this year. Bitcoin has wavered recently because of investor profit-taking. In May, its price surged to a record high of $111,900, a 50% surge from the lowest level in April. BTC also wavered as data pointed to outflows from exchange-traded funds. SoSoValue data shows that these ETFs shed $128 million last week after shedding $157 million a week earlier. It was the first back-to-back weekly outflows since April. Further data shows that sentiment among crypto investors has turned neutral this month. The closely-watched fear and greed index has dropped to the neutral point of 56.  Bitcoin has also wavered after reports emerged that China was considering selling its seized coins. Data shows that it holds 190,000 coins worth over $20 billion. You might also like:Cardano price faces downside risk amid weak network activity Still, Bitcoin has two key catalysts that may push it higher in the coming weeks. First, the chart below shows that the supply of Bitcoin on exchanges has been in a freefall this month and currently stands at 1.18 million, down from 1.35 million when the month started. It has fallen from over 3.5 million in 2020. Bitcoin supply on exchanges | Source: Santiment Second, more companies are intensifying their Bitcoin purchases. Strategy is raising over $2 billion more to buy Bitcoin, while Trump Media has filed to raise up to $12 billion for purchases. Other firms like MetaPlanet and The Blockchain Group are intensifying their purchases. Bitcoin price technical analysis BTC price chart | Source: crypto.news The other Bitcoin catalyst is its solid technicals. The daily chart shows that it has slowly formed a cup-and-handle pattern and is completing the handle section.  Bitcoin has also remained above the 50-day and 200-day moving averages, which provide substantial support. It has also remained above the major S/R pivot point of the Murrey Math Lines tool.  Therefore, the coin will likely bounce back in the coming weeks. The initial target is the cup’s upper side at $109,477. After moving above the all-time high of $111,900, it may surge to $150,000. Read more:Chart of the week: Solana indicators point north, bulls test $165 target