加密貨幣業務：微軟股東對比特幣儲備投「不」票，摩根大通提高礦業股目標價

即使在對加密貨幣友善的白宮領導下，幣安在美國捲土重來的機會仍然很小。

Despite a crypto-friendly White House administration, Binance’s chances of re-entering the United States market remain slim.

儘管白宮政府對加密貨幣友好，但幣安重新進入美國市場的機會仍然很小。

In a Dec. 9 interview, the exchange’s CEO downplayed discussions about returning to the US market following its November 2023 exit as part of a $4.3 billion settlement with the government over sanctions violations, money laundering and operating as an unlicensed money transmitter.

在12 月9 日的採訪中，該交易所首席執行官淡化了關於在2023 年11 月退出後重返美國市場的討論，這是與政府就違反制裁、洗錢和作為無牌貨幣轉移機構達成的43 億美元和解協議的一部分。

“As of now, we are focusing on our global deployment,” said the exchange’s CEO, Richard Teng.

「到目前為止，我們的重點是全球部署，」該交易所執行長理查德·滕（Richard Teng）表示。

Binance’s regulatory troubles in the US also led to the shutdown of products linked to its stablecoin, Binance USD (BUSD) — one of the largest stablecoins in 2022 when it reached a peak market capitalization of $23.3 billion.

幣安在美國的監管問題也導致與其穩定幣幣安美元 (BUSD) 相關的產品被關閉。

Now, nearly a year after BUSD’s products sunset, the exchange is exploring new alliances to stake its claim on the stablecoin market. On Dec. 10, Binance announced a strategic partnership with Circle at Abu Dhabi Finance Week.

現在，在 BUSD 產品退役近一年後，該交易所正在探索新的聯盟，以在穩定幣市場上佔據一席之地。 12 月 10 日，幣安在阿布達比金融週上宣布與 Circle 建立戰略合作關係。

As part of the alliance, the exchange will integrate USD Coin USDC $0.9998 into its corporate treasury and add more trading pairs and special promotions, while Circle will provide Binance with technology, liquidity and global connections.

作為聯盟的一部分，該交易所將把 USD Coin USDC $0.9998 納入其公司金庫，並增加更多交易對和特別促銷活動，而 Circle 將為幣安提供技術、流動性和全球聯繫。

The deal will potentially grant USDC a larger foothold outside the United States and place Binance a step closer to the US market.

該交易可能會讓 USDC 在美國以外的地區獲得更大的立足點，並使幣安更接近美國市場。

This week’s Crypto Biz also explores Microsoft’s board’s stance on Bitcoin, JPMorgan’s revision of mining stocks, MARA’s new BTC purchase and upcoming listings of crypto firms.

本週的 Crypto Biz 也探討了微軟董事會對比特幣的立場、摩根大通對礦業股的修改、MARA 新購買的 BTC 以及即將上市的加密公司。

Microsoft shareholders vote ‘no’ to Bitcoin reserve

微軟股東對比特幣儲備投「不」票

Shareholders of Microsoft voted down a proposal at the annual meeting on Dec. 10 to allocate 1–5% of the company’s profits to Bitcoin. The resolution, put forward by the National Center for Public Policy Research, called for the diversification of profits despite Bitcoin’s higher volatility compared to corporate bonds. The proposal cited both MicroStrategy and BlackRock’s adoption of BTC as motivating factors. However, Microsoft’s board opposed the motion in an SEC filing, describing it as “unnecessary” and stating that the company “already carefully considers this topic.”

微軟股東在 12 月 10 日的年會上投票否決了將公司利潤的 1-5% 分配給比特幣的提案。該決議由國家公共政策研究中心提出，呼籲利潤多元化，儘管比特幣的波動性高於公司債。該提案將 MicroStrategy 和 BlackRock 採用 BTC 視為激勵因素。然而，微軟董事會在向美國證券交易委員會提交的文件中反對該動議，稱其“沒有必要”，並表示該公司“已經仔細考慮了這個話題”。

JPMorgan raises price targets on Bitcoin mining stocks

摩根大通上調比特幣礦業股目標價

Analysts at JPMorgan increased price targets for four Bitcoin BTC $101,891 mining stocks — MARA Holdings, CleanSpark, Riot Platforms and IREN — due to the value of their electrical power assets and Bitcoin holdings. In a Dec. 10 report, analysts Reginald Smith and Charles Pearce noted that each stock is already trading near or above its new target. Previously, miners were valued based on a four-year gross profit outlook. Moreover, the report highlighted MicroStrategy’s significant performance, with its stock up nearly 450% year-to-date compared to Bitcoin’s 125% gain. The company owns BTC worth $40 billion in its treasury. Other major miners like Marathon, Riot and CleanSpark hold BTC treasuries valued at approximately $3.9 billion, $1.1 billion, and $890 million, respectively.

摩根大通分析師上調了四隻比特幣 BTC 價格為 101,891 美元的礦業股——MARA Holdings、CleanSpark、Riot Platform 和 IREN——的價格目標，因為它們的電力資產和比特幣持有量價值較高。在 12 月 10 日的報告中，分析師雷金納德史密斯 (Reginald Smith) 和查爾斯皮爾斯 (Charles Pearce) 指出，每隻股票的交易價格已經接近或高於其新目標。此前，礦商的估值是基於四年毛利前景。此外，該報告還強調了 MicroStrategy 的顯著業績，其股價今年迄今上漲了近 450%，而比特幣的漲幅為 125%。該公司擁有價值 400 億美元的 BTC。 Marathon、Riot 和 CleanSpark 等其他主要礦商持有的 BTC 公債價值分別約為 39 億美元、11 億美元和 8.9 億美元。

Bitwise predicts 2025 as year for crypto IPOs — Kraken, Circle to go public

Bitwise 預測 2025 年將是加密貨幣 IPO 之年——Kraken、Circle 將上市

Bitwise predicts that at least five major crypto companies will go public through initial public offerings (IPOs) in 2025, dubbing it the “Year of the Crypto IPO.” According to Bitwise, the list of companies includes Circle, Kraken, Anchorage Digital, Chainalysis and Figure. Their IPOs would be driven by increasing investor demand, greater institutional adoption, a more supportive macroeconomic environment and favorable political conditions. Additionally, the report forecasts Bitcoin to reach $200,000 or more by the end of 2025 and potentially exceed gold’s $18 trillion market cap by 2029. Bitcoin could even surge to $500,000 next year if the United States adopts Senator Cynthia Lummis’ proposal for a strategic Bitcoin reserve.

Bitwise 預測，至少有五家主要加密貨幣公司將在 2025 年透過首次公開發行 (IPO) 上市，並將其稱為「加密貨幣 IPO 年」。據 Bitwise 稱，名單中的公司包括 Circle、Kraken、Anchorage Digital、Chainaanalysis 和 Figure。他們的首次公開發行將受到不斷增長的投資者需求、更大的機構採用、更具支持性的宏觀經濟環境和有利的政治條件的推動。此外，該報告預測，到2025 年底，比特幣的價格將達到20 萬美元或更多，到2029 年，比特幣的市值可能會超過黃金的18 兆美元。斯(Cynthia Lummis) 提出的比特幣戰略儲備提案，明年比特幣的價格甚至可能飆升至50 萬美元。

MARA Holdings buys $1.1B more Bitcoin, hits industry-first 50 EH/s

MARA Holdings 購買了 1.1B 美元的比特幣，達到業界第一的 50 EH/s

Bitcoin mining company MARA Holdings announced on Dec. 10 that it purchased 11,774 Bitcoin for $1.1 billion, bringing its total holdings to 40,435 BTC valued at about $3.92 billion. The acquisition followed a zero-coupon convertible note offering conducted late last month. In addition, the company reported that its hashrate crossed 50 exahashes per second (EH/s), marking an industry first. According to MARA, its BTC Yield reached 12.3% for the fourth quarter and 47.6% for the year. It uses BTC Yield as a key performance indicator to measure the percentage change between its BTC holdings and fully diluted shares outstanding.

比特幣礦業公司 MARA Holdings 於 12 月 10 日宣布，以 11 億美元購買了 11,774 枚比特幣，使其持有總量達到 40,435 枚比特幣，價值約 39.2 億美元。此次收購是在上月底進行的零息可轉換票據發行之後進行的。此外，該公司報告稱，其算力突破了每秒 50 exahashes (EH/s)，創下行業第一。根據 MARA 的數據，其 BTC 收益率在第四季度達到 12.3%，全年達到 47.6%。它使用 BTC 收益率作為關鍵績效指標來衡量其持有的 BTC 與完全稀釋的已發行股票之間的百分比變化。