Coinbase（硬幣）的演奏不錯。它因其所謂的“ Chokepoint 2.0”撤銷活動的記錄起訴FDIC

Coinbase（硬幣）的演奏不錯。加密貨幣交易所已經追隨了FDIC，因為它所謂的“荒謬”延遲策略

Coinbase (COIN) is heating up its battle with the FDIC. The crypto exchange is pushing back against the agency’s request for a 16-day extension to respond to a lawsuit under the Freedom of Information Act.

Coinbase（硬幣）正在加熱與FDIC的戰鬥。加密交易所正在反對該機構要求延長16天的延期，以應對《信息自由法》下的訴訟。

Coinbase maintains that the FDIC, which has already been granted an extension, has had ample time to prepare its response and is now engaging in delay tactics.

Coinbase堅持認為，FDIC已經獲得了擴展，已經有足夠的時間準備其反應，現在正在採取延遲戰術。

The lawsuit centers on the release of critical records detailing the alleged efforts by the agency to advise banks against working with crypto firms. Coinbase is arguing that the FDIC is trying to sidestep accountability.

訴訟集中在發布關鍵記錄的重點，詳細介紹了該機構為銀行不要與加密貨幣公司合作的努力。 Coinbase認為，FDIC試圖避開責任。

“The agency’s interpretation of the default deadline is legally incorrect,” Coinbase stated, deeming the request "unwarranted" and lacking in "sound reason."

Coinbase表示：“該機構對默認截止日期的解釋在法律上是不正確的。”

This legal clash is part of a broader contention. Coinbase, along with other industry figures, believes that federal agencies engaged in a campaign to pressurize banks into dropping crypto clients without going through proper rulemaking procedures.

這場法律衝突是更廣泛爭論的一部分。 Coinbase與其他行業數字一起認為，聯邦機構正在進行一項運動，以迫使銀行拋棄加密客戶，而無需進行適當的規則制定程序。

Earlier this year, the FDIC released nearly 800 pages of internal documents. These documents, according to Decrypt, highlight how banks were cautioned against offering services to crypto firms.

今年早些時候，FDIC發布了近800頁的內部文件。根據解密的說法，這些文件強調瞭如何警告銀行不向加密貨幣公司提供服務。

The agency raised concerns about “reputation risk” to the FDIC in reports about providing advice to institutions on emerging trends in financial innovation. However, these documents don’t necessarily show the agency had safety concerns.

該機構在向FDIC提出了有關向機構提供有關新興金融創新趨勢的建議的報告。但是，這些文件不一定顯示該機構有安全問題。

Coinbase CEO Brian Armstrong has described the alleged campaign as “one of the most unethical and un-American things that happened in the Biden administration.”

Coinbase首席執行官布萊恩·阿姆斯特朗（Brian Armstrong）將所謂的運動描述為“拜登政府中發生的最不道德和非美國人的事情之一”。

While antitrust issues in Big Tech have drawn attention, Armstrong argues that the crypto industry is also a critical sector.

儘管大技術中的反托拉斯問題引起了人們的關注，但阿姆斯特朗認為加密貨幣行業也是關鍵部門。

Despite the regulatory tension and a recent price downturn in the crypto market, analyst Brett Knoblauch from Cantor Fitzgerald believes Wall Street is still largely clueless about Coinbase’s true value.

儘管有監管緊張局勢和最近的加密市場價格下跌，但坎托·菲茨杰拉德（Cantor Fitzgerald）的分析師布雷特·諾布拉赫（Brett Knoblauch）認為，華爾街對Coinbase的真實價值仍然毫無意義。

This week, the firm initiated coverage of Coinbase stock (COIN) with an “Overweight” rating and a $245 target.

本週，該公司以“超重”評級和245美元的目標開始覆蓋Coinbase Stock（Coin）。

Knoblauch feels that analysts have largely written off Coinbase due to a lackluster 2022 performance and the recent decline in crypto prices. However, he believes there’s more to the story.

Knoblauch認為，由於2022年的表現不足和加密貨幣價格下降，分析師在很大程度上已經註銷了Coinbase。但是，他認為這個故事還有更多。

According to the firm, a partnership between Coinbase and Circle for stablecoin processing is making Coinbase a more integral part of the Ethereum network. This network handles around 1.5 million transactions daily, which Knoblauch compares to the volume of a "large equities trading day."

根據該公司的說法，Coinbase與Circle進行的穩定菌屬處理之間的合作關係使Coinbase成為以太坊網絡的不可或缺的一部分。該網絡每天處理約150萬筆交易，這與“大型股票交易日”的數量相比。

A large portion of those transactions involve Circle’s USDC stablecoin, and for every dollar in USDC fees, Coinbase is estimated to receive $0.50. In 2022, Circle’s net revenue was $1.3 billion.

這些交易中的很大一部分涉及Circle的USDC Stablecoin，對於每美元的USDC費用，Coinbase估計將獲得0.50美元。 2022年，Circle的淨收入為13億美元。

According to Knoblauch’s analysis, if USDC transactions continue at their current pace, and assuming a 50% revenue share for Coinbase, it could generate $6 billion in revenue by 2025. This would be a significant increase from the $1.2 billion reported in 2022.

根據Knoblauch的分析，如果USDC交易以目前的速度繼續下去，並假設Coinbase的收入份額為50％，則到2025年，它可能會產生60億美元的收入。這將是從2022年報導的12億美元的大幅增長。

Moreover, Knoblauch anticipates that Circle will process even more transactions as its role in institutional DeFi expands.

此外，Knoblauch預計，隨著其在製度性法的作用擴展，Circle將處理更多的交易。

The firm values Coinbase at 20 times its 2025E EPS of $12.22, arriving at a price target of $245. This would indicate a 73% upside potential from the last closing price on August 10.

該公司值Coinbase的20倍2025E每股收益為12.22美元，目標價為245美元。這將表明從8月10日的最後一次收盤價開始有73％的上漲潛力。

Coinbase is currently a hot topic on the Hill, with the House Oversight Committee launching a probe to determine whether federal regulators overstepped their boundaries in pressuring banks to close accounts with crypto firms.

Coinbase目前是山上的熱門話題，眾議院監督委員會發起了一個調查，以確定聯邦監管機構是否超越了他們的界限，以迫使銀行關閉與加密貨幣公司的帳戶。

As part of its investigation into the alleged "Operation Choke Point 2.0," the committee has sent letters to Coinbase, a16z, and other industry players. They are seeking information on whether lawful businesses were unjustly targeted by the administration.

作為對所謂的“ Choke Point 2.0行動”的調查的一部分，該委員會已向Coinbase，A16Z和其他行業參與者發送了信件。他們正在尋求有關政府是否不公正地針對合法企業的信息。

The FDIC is now requesting 16 days to respond fully to Coinbase’s lawsuit.

FDIC現在要求16天對Coinbase的訴訟做出充分回應。