{"id":652025,"date":"2026-07-21T21:38:10","date_gmt":"2026-07-22T04:38:10","guid":{"rendered":"https:\/\/nai500.com\/?p=652025"},"modified":"2026-07-21T21:38:10","modified_gmt":"2026-07-22T04:38:10","slug":"%e8%82%a1%e4%bb%b7%e4%b8%80%e5%b9%b4%e8%b7%8c%e5%8e%bb%e5%85%ad%e6%88%90-coinbase-%e8%8e%b7%e6%9c%ba%e6%9e%84%e9%87%8d%e7%94%b3%e8%b7%91%e8%b5%a2%e5%a4%a7%e7%9b%98%e8%af%84%e7%ba%a7","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2026\/07\/%e8%82%a1%e4%bb%b7%e4%b8%80%e5%b9%b4%e8%b7%8c%e5%8e%bb%e5%85%ad%e6%88%90-coinbase-%e8%8e%b7%e6%9c%ba%e6%9e%84%e9%87%8d%e7%94%b3%e8%b7%91%e8%b5%a2%e5%a4%a7%e7%9b%98%e8%af%84%e7%ba%a7\/","title":{"rendered":"\u80a1\u4ef7\u4e00\u5e74\u8dcc\u53bb\u516d\u6210\uff0cCoinbase\u83b7\u673a\u6784\u91cd\u7533\u8dd1\u8d62\u5927\u76d8\u8bc4\u7ea7"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">\u8fc7\u53bb\u4e00\u5e74\uff0cCoinbase\u80a1\u4ef7\u6301\u7eed\u4e0b\u8dcc\uff0c\u4ece2025\u5e747\u670817\u65e5\u7684445\u7f8e\u5143\u5386\u53f2\u9ad8\u70b9\uff0c\u8dcc\u81f32026\u5e747\u670817\u65e5\u7684157\u7f8e\u5143\u3002\u6295\u8d44\u673a\u6784William Blair\u8fd1\u671f\u4e0b\u8c03\u4e86\u7f8e\u56fd\u6700\u5927\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u6240Coinbase\uff08<a href=\"https:\/\/nai500.com\/zh-hans\/%e8%82%a1%e7%a5%a8%e6%9f%a5%e8%af%a2\/?qm_symbol=COIN\"><span class=\"s2\">COIN<\/span><\/a>\uff09\u7684\u4e1a\u7ee9\u9884\u671f\uff0c\u4f46\u4e0e\u6b64\u540c\u65f6\uff0c\u8be5\u673a\u6784\u91cd\u7533\u4e86\u5bf9Coinbase\u7684\u201c\u8dd1\u8d62\u5927\u76d8\u201d\u8bc4\u7ea7\uff0c\u5efa\u8bae\u5ba2\u6237\u7ee7\u7eed\u6301\u6709\u5176\u80a1\u7968\uff0c\u5e76\u6307\u51fa\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u53ef\u80fd\u5df2\u63a5\u8fd1\u5e95\u90e8\u3002<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">William Blair\u5bf9Coinbase\u53ca\u52a0\u5bc6\u5e02\u573a\u7684\u770b\u6cd5<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">William Blair\u5c06Coinbase 2026\u5e74\u548c2027\u5e74\u7684\u5e74\u6536\u5165\u9884\u671f\u5206\u522b\u4e0b\u8c03\u4e8612%\u548c13%\uff0c\u540c\u65f6\u5c06\u8fd9\u4e24\u5e74\u7684\u7a0e\u606f\u6298\u65e7\u53ca\u644a\u9500\u524d\u5229\u6da6\uff08EBITDA\uff09\u9884\u671f\u5747\u4e0b\u8c03\u4e8634%\u3002\u8be5\u673a\u6784\u9884\u8ba1\uff0c2026\u5e74Coinbase\u7684\u4ea4\u6613\u91cf\u5c06\u4e0b\u964d44%\u81f36690\u4ebf\u7f8e\u5143\u3002<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u8fd9\u4e9b\u9884\u6d4b\u4e0eCoinbase\u5bf9\u52a0\u5bc6\u5e02\u573a\u7684\u4f9d\u8d56\u7a0b\u5ea6\u4ee5\u53ca\u718a\u5e02\u5df2\u5bf9\u5176\u4ea7\u751f\u7684\u5f71\u54cd\u76f8\u7b26\u3002\u8d22\u62a5\u663e\u793a\uff0cCoinbase 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class=\"p1\"><span class=\"s1\">Coinbase\u52a0\u5165\u7a33\u5b9a\u5e01\u8054\u76df<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">6\u670830\u65e5\uff0cCoinbase\u8054\u5408\u903e140\u5bb6\u91d1\u878d\u3001\u79d1\u6280\u548c\u96f6\u552e\u4f01\u4e1a\uff0c\u5171\u540c\u652f\u6301\u4e00\u6b3e\u540d\u4e3aOpen USD\uff08OUSD\uff09\u7684\u65b0\u7a33\u5b9a\u5e01\u3002\u8fd9\u4e00\u4e3e\u52a8\u4ee4\u5e02\u573a\u610f\u5916\uff0c\u56e0\u4e3aCoinbase\u66fe\u662fCircle\uff08<a href=\"https:\/\/nai500.com\/zh-hans\/%e8%82%a1%e7%a5%a8%e6%9f%a5%e8%af%a2\/?qm_symbol=CRCL\"><span class=\"s2\">CRCL<\/span><\/a>\uff09\u65d7\u4e0bUSDC\uff08USDC\uff09\u7a33\u5b9a\u5e01\u7684\u521b\u59cb\u5408\u4f5c\u4f19\u4f34\uff0c\u4e14\u81f3\u4eca\u4ecd\u4fdd\u7559\u5176\u5e73\u53f0\u4e0aUSDC\u4ea7\u751f\u7684\u5168\u90e8\u5229\u606f\u6536\u5165\u3002<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Coinbase\u65e2\u53ef\u4ee5\u7eed\u7b7e\u4e0eCircle\u7684\u6536\u5165\u5206\u6210\u534f\u8bae\uff0c\u4e5f\u53ef\u7ee7\u7eed\u652f\u6301OUSD\u6309\u8ba1\u5212\u4e8e\u4eca\u5e74\u665a\u4e9b\u65f6\u5019\u63a8\u51fa\u3002\u4f5c\u4e3a\u5168\u7403\u6700\u5927\u7684\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u6240\u4e4b\u4e00\uff0c\u65e0\u8bba\u54ea\u79cd\u7a33\u5b9a\u5e01\u6700\u7ec8\u80dc\u51fa\uff0cCoinbase\u90fd\u5c06\u4ece\u7a33\u5b9a\u5e01\u65e5\u76ca\u589e\u957f\u7684\u91c7\u7528\u4e2d\u83b7\u76ca\u3002<\/span><\/p>\n<p class=\"p1\"><span 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class=\"s1\">\u5bf9\u4e8eCoinbase\u80a1\u7968\u800c\u8a00\uff0c\u5f53\u524d\u6216\u8bb8\u662f\u4e00\u4e2a\u4e0d\u9519\u7684\u201c\u9022\u4f4e\u4e70\u5165\u201d\u673a\u4f1a\uff0c\u4f46\u6295\u8d44\u8005\u4ecd\u9700\u4fdd\u6301\u8c28\u614e\u3002\u5c3d\u7ba1Coinbase\u5df2\u62d3\u5c55\u4e1a\u52a1\u8fb9\u754c\uff0c\u4ea4\u6613\u624b\u7eed\u8d39\u4ecd\u662f\u5176\u6838\u5fc3\u6536\u5165\u652f\u67f1\uff0c\u8fd9\u610f\u5473\u7740\u5b83\u5728\u725b\u5e02\u4e2d\u7684\u8868\u73b0\u901a\u5e38\u6700\u4f73\uff0c\u800c\u5728\u718a\u5e02\u4e2d\u53ef\u80fd\u7ee7\u7eed\u627f\u538b\u3002<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u5f53\u52a0\u5bc6\u5e02\u573a\u53cd\u5f39\u65f6\uff0cCoinbase\u5e94\u4f1a\u968f\u4e4b\u4e0a\u6da8\uff0c\u4f46\u53cd\u5f39\u4f55\u65f6\u5230\u6765\u96be\u4ee5\u786e\u5b9a\u3002\u4ee5\u5f80\u7684\u718a\u5e02\u66fe\u6301\u7eed\u591a\u5e74\uff0c\u56e0\u6b64\u5bf9\u4e8e\u201c\u5e02\u573a\u5df2\u63a5\u8fd1\u5e95\u90e8\u201d\u7684\u9884\u6d4b\uff0c\u6295\u8d44\u8005\u5e94\u4fdd\u6301\u5ba1\u614e\u3002\u6700\u7a33\u59a5\u7684\u7b56\u7565\u662f\u5c06\u52a0\u5bc6\u8d27\u5e01\u53ca\u76f8\u5173\u80a1\u7968\u5728\u6295\u8d44\u7ec4\u5408\u4e2d\u7684\u6bd4\u4f8b\u63a7\u5236\u5728\u8f83\u5c0f\u8303\u56f4\u5185\u3002<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u8fc7\u53bb\u4e00\u5e74\uff0cCoinbase\u80a1\u4ef7\u6301\u7eed\u4e0b\u8dcc\uff0c\u4ece2025\u5e747\u670817\u65e5\u7684445\u7f8e\u5143\u5386\u53f2\u9ad8\u70b9\uff0c\u8dcc\u81f32026\u5e747\u670817\u65e5\u7684 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