伯恩斯坦说，随着监管环境的改善，Coinbase（Coin）将加入金融主流。

经纪人伯恩斯坦（Bernstein）在周一的一份报告中说，随着监管环境的改善，加密行业有望加入美国的金融主流，而Coinbase（Coin）的位置很好，可以从这些方面受益。

The crypto industry is expected to join the financial mainstream in the U.S. as the regulatory environment improves, and Coinbase (COIN) is well positioned to benefit from these tailwinds, broker Bernstein said in a report Monday.

经纪人伯恩斯坦（Bernstein）在周一的一份报告中说，随着监管环境的改善，加密行业有望加入美国的金融主流，而Coinbase（Coin）的位置很好，可以从这些方面受益。

Bernstein initiated coverage of the crypto exchange with an outperform rating and a $310 price target. About 41% of Wall Street analysts have a buy rating on the stock, 7% sell and the rest hold, according to FactSet data.

伯恩斯坦（Bernstein）以跑赢大盘的评级和310美元的价格目标开始了加密货币交易所的覆盖范围。根据FactSet数据，约有41％的华尔街分析师对该股票的股票评级为7％，其余的则持有。

The shares dropped 2% to $185.20 in early trading.

股票在早期交易中下跌了2％至185.20美元。

Bernstein: Coinbase to benefit from U.S. crypto hub ambitions and FIU registration

Bernstein：Coinbase受益于美国加密集线器的野心和FIU注册

Regulatory clarity will result in more competition for Coinbase from fintech companies, brokers and banks, the report said.

报告说，监管清晰度将导致金融科技公司，经纪人和银行的共同竞争更多。

Still, a "strong bull market and rising U.S. onshore dominance" is expected to more than offset market share and pricing pressures, analysts led by Gautam Chhugani wrote.

Gautam Chhugani的分析师写道，尽管如此，预计“强劲的牛市和陆上优势升高”将不仅仅是抵消市场份额和定价压力。

An improving regulatory backdrop in the U.S. is a huge tailwind for digital assets, and President Donald Trump has promised to make the U.S. the "crypto capital of the world."

在美国，改进的监管背景是数字资产的巨大逆风，唐纳德·特朗普总统已承诺将美国成为“世界的加密首都”。

The Securities and Exchange Commission (SEC) has formed a new crypto task force led by Commissioner Hester Peirce to draft new regulations for the industry.

美国证券交易委员会（SEC）已成立了由专员赫斯特·皮尔斯（Hester Peirce）领导的新加密工作组，以起草该行业的新法规。

Coinbase has done well to diversify beyond trading, the report said, and the exchange now has a strong presence in U.S. dollar stablecoins and crypto yield services, such as staking.

该报告说，Coinbase在超越交易之外的多样化方面做得很好，现在的交易所现在在美元稳定的稳定股和加密货币收益服务（例如Staking）中拥有强大的业务。

Bernstein said it expects Coinbase to grow non-trading revenues by around a 31% compound annual growth rate (CAGR) between 2024-2026.

伯恩斯坦说，它预计Coinbase将在2024 - 2026年之间将非交易收入增长约31％。

This provides a "strong balance to cyclicality of trading revenues," the report added.

报告补充说，这为交易收入的周期性提供了强大的平衡。

Coinbase recently secured FIU registration, paving the way for a return to the Indian market, the company said in a blog post earlier this month.

该公司在本月初的博客文章中说，Coinbase最近获得了FIU注册，为重返印度市场铺平了道路。