Coinbase向订阅模式转型可能影响第三季度业绩 -- 市场动态

投资观察

10/21

1515 ET - Coinbase Global面临多种因素，可能导致第三季度业绩未达预期，Compass Point的分析师Ed Engel和Michael Donovan表示。他们认为Coinbase向订阅和服务获取更多收入的转变，而非依赖零售交易，将对利润率产生压力。与零售交易销售相比，订阅和服务收入波动性较小，但其报告方式排除了用户之间的质押和稳定币奖励。分析师认为，Coinbase的零售交易和稳定币收入可能会令人失望，而波动不定的零售活动可能会影响CoinbaseOne订阅的数字。随着比特币价格上涨，Coinbase的股票上涨3.5%。(katherine.hamilton@wsj.com)

(完) 微道琼斯新闻社

2025年10月20日 15:15 ET (19:15 GMT)

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