#加密概念美股 Coinbase(COIN): A Barometer for the Crypto Industry

As the largest compliant exchange in the United States, Coinbase is set for explosive growth in 2024. Benefiting from the approval of the Bitcoin spot ETF and an influx of institutional funds, Q2 revenue increased by 180% year-on-year to $1.6 billion, with trading volume surpassing $300 billion. Its innovative business performance is impressive: daily transaction volume on the Base chain exceeds 2 million, and institutional custody assets reach $80 billion. However, regulatory risks remain, and the SEC lawsuit settlement could reach as high as $500 million. The current stock price reflects a 2025 PS of 8 times, indicating there is still premium space compared to traditional exchanges.