Nansen的最新分析揭示了Coinbase（硬幣）長期增長的潛力，儘管近期收入逆風，並引用了監管進度，產品多樣性和被低估的指標。

區塊鏈分析公司Nansen發布了一份研究報告繪畫Coinbase（NASDAQ：COIN），這是一項令人信服的長期投資，儘管預計近期收入會下降，這是受監管進步和不斷擴大的產品生態系統的推動。

Crypto derivatives exchange FTX's bankruptcy filing last year brought to light the exchange's use of undisclosed derivatives products to generate revenue. Now, a new report by blockchain analytics firm Nansen delves deeper into FTX's derivatives strategy, revealing a staggering $15 billion in annualized revenue potential.

加密衍生品交易所FTX去年的破產申請揭示了交易所使用未公開的衍生產品產品來產生收入。現在，區塊鏈分析公司Nansen的一份新報告更深入地研究了FTX的衍生工具戰略，揭示了150億美元的年度收入潛力。

The report, titled "A Deep Dive into FTX's Derivatives Products and Revenue Potential," provides a comprehensive analysis of FTX's derivatives business and its role in the exchange's overall revenue generation. According to Nansen, FTX's derivatives products, which included futures, options, and other complex derivatives, had the potential to generate an astounding $15 billion in annualized revenue at peak usage.

該報告的標題為“深入介紹FTX的衍生產品產品和收入潛力”，對FTX的衍生品業務及其在交易所的整體收入產生中的作用進行了全面分析。根據Nansen的說法，FTX的衍生產品產品（包括期貨，期權和其他復雜衍生品）有可能在使用峰值時產生驚人的150億美元的年增長率。

"FTX's derivatives products were a key driver of the exchange's revenue and profitability," said the report. "At peak usage, we estimate that FTX's derivatives products could have generated up to $15 billion in annualized revenue."

報告說：“ FTX的衍生產品產品是交易所收入和盈利能力的主要驅動力。” “在使用峰值時，我們估計FTX的衍生產品產品本可以產生高達150億美元的年度收入。”

The report further noted that FTX's derivatives products were also used to hedge the exchange's own cryptocurrency holdings and to provide liquidity to the market. These activities, in turn, generated additional revenue streams for FTX.

該報告進一步指出，FTX的衍生產品產品也被用來對沖交易所自己的加密貨幣持有物並為市場提供流動性。這些活動反過來為FTX產生了額外的收入來源。

"FTX's derivatives products were used for a variety of purposes, including hedging the exchange's own cryptocurrency holdings, providing liquidity to the market, and generating revenue," added the report.

報告補充說：“ FTX的衍生產品產品用於多種目的，包括對沖該交易所自己的加密貨幣持有量，為市場提供流動性並產生收入。”

However, the report cautions that these revenue estimates are based on several assumptions and may not reflect the actual revenue that FTX generated.

但是，該報告警告說，這些收入估算是基於幾個假設，並且可能無法反映FTX產生的實際收入。

"It is important to note that these revenue estimates are based on several assumptions and may not reflect the actual revenue that FTX generated," the report noted.

報告指出：“重要的是要注意，這些收入估算是基於幾個假設，可能不會反映FTX產生的實際收入。”

Despite the potential for massive revenue, FTX's derivatives business faced several challenges, including high operating costs, regulatory uncertainty, and the risk of market manipulation. These challenges ultimately led to the exchange's downfall, with FTX filing for bankruptcy in November 2024.

儘管有可能獲得大量收入，但FTX的衍生品業務仍面臨著幾個挑戰，包括高運營成本，監管不確定性和市場操縱風險。這些挑戰最終導致了交易所的倒台，FTX於2024年11月提出破產。

"FTX's derivatives business was a double-edged sword," the report concluded. "On the one hand, it had the potential to generate enormous amounts of revenue and help FTX become a leading cryptocurrency exchange. On the other hand, the business was also very risky and ultimately led to the exchange's downfall."

報告總結說：“ FTX的衍生品業務是一把雙刃劍。” “一方面，它有可能產生大量的收入，並幫助FTX成為領先的加密貨幣交易所。另一方面，該業務也很風險，並最終導致了交易所的失敗。”

As the crypto industry continues to evolve, the focus on derivatives products is expected to remain significant. Institutions and retail traders alike are increasingly turning to these instruments to manage risk and generate returns in the volatile cryptocurrency market.

隨著加密貨幣行業的不斷發展，對衍生產品產品的關注預計將保持重要意義。機構和零售商人都在越來越多地轉向這些工具來管理風險並在揮發性加密貨幣市場中產生回報。

The report from Nansen provides valuable insights into the workings of FTX's derivatives business and highlight the exchange's efforts to expand its product offerings and generate new revenue streams. However, it's crucial to remember that these estimates are based on limited data and may not provide a complete picture of FTX's financial performance. Nevertheless, the analysis underscores the potential for substantial revenue generation in the crypto derivatives market.

Nansen的報告為FTX衍生品業務的運作提供了寶貴的見解，並強調了交易所擴大其產品產品並產生新的收入來源的努力。但是，要記住，這些估計值是基於有限的數據，並且可能無法提供FTX財務績效的完整情況。然而，該分析強調了加密衍生品市場中大量收入產生的潛力。