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src=\"https:\/\/hx24-prod.mars-block.com\/image\/crawler\/2025\/08\/04\/1754274106802767.jpg\"><\/p>\n<p>Tether\u5728\u4e8c\u5b63\u5ea6\u51c0\u5229\u6da6\u7ea6\u4e3a49\u4ebf\u7f8e\u5143\uff0c\u663e\u8457\u9ad8\u4e8e\u7b2c\u4e00\u5b63\u5ea6\u76848.3\u4ebf\u7f8e\u5143\u3002\u4eca\u5e74\u5e74\u521d\u81f3\u4eca\uff0cTether\u5df2\u7d2f\u8ba1\u51c0\u5229\u6da6\u8fbe57.3\u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d31\u4ebf\u7f8e\u5143\u4e3a\u7ecf\u5e38\u6027\u6536\u76ca\uff0c26\u4ebf\u7f8e\u5143\u6765\u81ea\u6bd4\u7279\u5e01\u4e0e\u9ec4\u91d1\u7684\u5e02\u503c\u589e\u957f\u3002<\/p>\n<p>\u6574\u4f53\u6765\u770b\uff0cTether\u5728\u672c\u5b63\u5c55\u73b0\u51fa\u5f3a\u52b2\u7684\u8d44\u4ea7\u589e\u957f\u80fd\u529b\u548c\u76c8\u5229\u6c34\u5e73\uff0c\u5176\u8d44\u4ea7\u914d\u7f6e\u7684\u591a\u5143\u5316\uff08\u6bd4\u5982\u9ec4\u91d1\u548c\u6bd4\u7279\u5e01\uff09\u4e5f\u4e3a\u5176\u5229\u6da6\u6784\u6210\u63d0\u4f9b\u4e86\u5f39\u6027\u3002<\/p>\n<h3><strong>Robinhood\uff1a\u8425\u6536\u63a5\u8fd110\u4ebf\u7f8e\u5143\uff0c\u52a0\u5bc6\u4e1a\u52a1\u63a8\u52a8\u5229\u6da6\u7ffb\u500d<\/strong><\/h3>\n<p>\u622a\u81f32025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u672b\uff0cRobinhood\u7684\u8d44\u4ea7\u8d1f\u503a\u8868\u4e0a\u5171\u6301\u670942\u4ebf\u7f8e\u5143\u7684\u73b0\u91d1\u548c\u73b0\u91d1\u7b49\u4ef7\u7269\uff0c\u4e3a\u5168\u7403\u6269\u5f20\u4e0e\u65b0\u4e1a\u52a1\u8bd5\u6c34\u63d0\u4f9b\u4e86\u5145\u8db3\u7684\u201c\u5f39\u836f\u201d\u3002<\/p>\n<p class=\"ql-align-center\"><img decoding=\"async\" alt=\"Strategy\" src=\"https:\/\/hx24-prod.mars-block.com\/image\/crawler\/2025\/08\/04\/1754274106780522.jpg\"><\/p>\n<p>\u672c\u5b63\u5ea6\uff0cRobinhood\u5b9e\u73b0\u8425\u65369.89\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f45%\uff1b\u51c0\u5229\u6da6\u8fbe\u52303.86\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u7ffb\u500d\uff0c\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u3002\u8c03\u6574\u540eEBITDA\u8fbe\u52305.49\u4ebf\u7f8e\u5143\uff0c\u5229\u6da6\u7387\u5347\u81f356%\u3002\u63a8\u52a8\u8fd9\u4e00\u589e\u957f\u7684\u6838\u5fc3\u5f15\u64ce\uff0c\u662f\u52a0\u5bc6\u4ea4\u6613\u4e1a\u52a1\u548c\u671f\u6743\u4ea4\u6613\u7684\u5f3a\u52bf\u53cd\u5f39\u3002\u5176\u4e2d\uff0c\u671f\u6743\u4ea4\u6613\u6536\u5165\u8fbe\u52302.65\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f46%\uff0c\u4ecd\u662f\u6700\u6838\u5fc3\u7684\u6536\u5165\u6765\u6e90\uff1b\u52a0\u5bc6\u4ea4\u6613\u6536\u5165\u8fbe\u52301.6\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f98%\uff0c\u6210\u4e3a\u65b0\u7684\u589e\u957f\u52a8\u529b\uff1b\u800c\u80a1\u7968\u4ea4\u6613\u6536\u5165\u4e5f\u5f55\u5f976600\u4e07\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f65%\u3002<\/p>\n<p>Robinhood\u5728\u7528\u6237\u89c4\u6a21\u548c\u8d44\u4ea7\u6c89\u6dc0\u65b9\u9762\u4e5f\u4fdd\u6301\u5f3a\u52b2\u3002\u5e73\u53f0\u73b0\u6709\u8d44\u91d1\u8d26\u6237\u6570\u8fbe\u52302650\u4e07\u4e2a\uff0c\u540c\u6bd4\u589e\u957f\u4e8610%\uff1b\u603b\u5e73\u53f0\u8d44\u4ea7\u7a81\u78342790\u4ebf\u7f8e\u5143\uff0c\u51e0\u4e4e\u7ffb\u4e86\u4e00\u500d\uff1b\u6d3b\u8dc3\u6295\u8d44\u8d26\u6237\u8fbe 2740 \u4e07\uff0c\u540c\u6bd4\u589e\u957f 10%\uff1b\u9ad8\u4ef7\u503c\u7528\u6237\uff08\u8ba2\u9605Robinhood Gold\uff09\u589e\u957f76%\uff0c\u8fbe\u5230350\u4e07\u4e2a\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u6bcf\u4f4d\u7528\u6237\u5e73\u5747\u5e26\u6765\u7684\u6536\u5165\uff08ARPU\uff09\u5df2\u8fbe\u5230151\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f34%\uff0c\u53cd\u6620\u51fa\u5e73\u53f0\u7684\u7528\u6237\u53d8\u73b0\u80fd\u529b\u6301\u7eed\u589e\u5f3a\u3002<\/p>\n<p>\u4ece\u6218\u7565\u5c42\u9762\u6765\u770b\uff0c\u6700\u503c\u5f97\u5173\u6ce8\u7684\u662f\u672c\u5b63\u5ea6Robinhood\u5bf9\u52a0\u5bc6\u4e1a\u52a1\u8fdb\u884c\u4e86\u5927\u5200\u9614\u65a7\u7684\u5e03\u5c40\uff0c\u5305\u62ec\u6b63\u5f0f\u5b8c\u6210\u5bf9\u6b27\u6d32\u8001\u724c\u4ea4\u6613\u6240Bitstamp\u7684\u6536\u8d2d\uff1b\u83b7\u5f9750\u591a\u4e2a\u52a0\u5bc6\u5408\u89c4\u724c\u7167\uff0c\u5e76\u572830\u4e2a\u6b27\u6d32\u56fd\u5bb6\u4e0a\u7ebf\u52a0\u5bc6\u670d\u52a1\uff1b\u63a8\u51fa\u80a1\u7968\u4ee3\u5e01\u4ea7\u54c1\uff1b\u5728\u7f8e\u56fd\u5f00\u653e\u4e86\u52a0\u5bc6\u8d28\u62bc\u529f\u80fd\uff0c\u4ee5\u53ca\u8ba1\u5212\u5728\u4e0b\u534a\u5e74\u5b8c\u6210\u5bf9\u52a0\u62ff\u5927WonderFi\u7684\u5e76\u8d2d\u3002\u53e6\u5916\uff0cRobinhood\u6b63\u5728\u9010\u6b65\u6253\u9020\u81ea\u5df1\u7684\u91d1\u878d\u8d85\u5e02\uff0c\u6bd4\u5982Robinhood Strategies\u6570\u5b57\u6295\u987e\u670d\u52a1AUM\u8fbe5\u4ebf\u7f8e\u5143\u3001\u9000\u4f11\u8d26\u6237\u8d44\u4ea7\u8fbe200\u4ebf\u7f8e\u5143\u4ee5\u53caGold\u4fe1\u7528\u5361\u7528\u6237\u5df2\u8fbe30\u4e07\u4e2a\u7b49\u3002<\/p>\n<h3><strong>Kraken\uff1a\u5229\u6da6\u8170\u65a9\uff0c\u8ba1\u5212\u52a0\u5feb\u591a\u5143\u5316\u5e03\u5c40<\/strong><\/h3>\n<p>\u57282025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\uff0cKraken\u5728\u591a\u8d44\u4ea7\u4ea4\u6613\u548c\u5168\u7403\u6269\u5f20\u65b9\u9762\u6301\u7eed\u63a8\u8fdb\uff0c\u4f46\u5e02\u573a\u6574\u4f53\u4ea4\u6613\u6d3b\u8dc3\u5ea6\u7565\u6709\u653e\u7f13\uff0c\u5bfc\u81f4\u90e8\u5206\u5173\u952e\u6307\u6807\u73af\u6bd4\u56de\u843d\u3002<\/p>\n<p class=\"ql-align-center\"><img decoding=\"async\" alt=\"Strategy\" src=\"https:\/\/hx24-prod.mars-block.com\/image\/crawler\/2025\/08\/04\/1754274106781382.jpg\"><\/p>\n<p>\u672c\u5b63\u5ea6\uff0cKraken\u5b9e\u73b0\u6536\u51654.12\u4ebf\u7f8e\u5143\uff0c\u867d\u540c\u6bd4\u589e\u957f18%\uff0c\u4f46\u8f83\u4e0a\u4e00\u5b63\u5ea6\uff084.72\u4ebf\u7f8e\u5143\uff09\u73af\u6bd4\u4e0b\u964d\u3002\u672c\u5b63\u5ea6\u8c03\u6574\u540e\u7684\u606f\u7a0e\u6298\u65e7\u644a\u9500\u524d\u5229\u6da6\u4e3a8000\u4e07\u7f8e\u5143\uff0c\u76f8\u6bd4Q1\u76841.87\u4ebf\u7f8e\u5143\u51fa\u73b0\u5927\u5e45\u56de\u843d\u3002\u4ece\u8fd0\u8425\u6570\u636e\u6765\u770b\uff0cKraken\u62e5\u6709\u7ea61500\u4e07\u5168\u7403\u5ba2\u6237\uff0c\u7b2c\u4e8c\u5b63\u5ea6\u4ea4\u6613\u603b\u91cf\u4e3a1868\u4ebf\u7f8e\u5143\uff0c\u73af\u6bd4\u4e0b\u964d10.5%\uff0c\u4f46\u540c\u6bd4\u4ecd\u5b9e\u73b019%\u7684\u589e\u957f\uff1bKraken\u7684\u8d44\u91d1\u8d26\u6237\u6570\u589e\u81f3440\u4e07\u4e2a\uff0c\u540c\u6bd4\u589e\u957f\u5219\u9ad8\u8fbe37%\uff1b\u5e73\u53f0\u6258\u7ba1\u8d44\u4ea7\u8fbe432\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f\u66f4\u662f\u8fbe\u523047%\u3002<\/p>\n<p>\u63a5\u4e0b\u6765\uff0cKraken\u7684\u5168\u7403\u4e1a\u52a1\u5c06\u6301\u7eed\u63d0\u901f\uff0c\u5305\u62ec\u65b0\u724c\u7167\u9646\u7eed\u83b7\u6279\u3001\u672c\u5730\u8d44\u91d1\u901a\u9053\u62d3\u5c55\u3001\u591a\u8d44\u4ea7\u4f53\u9a8c\u5347\u7ea7\u4ee5\u53ca\u521b\u65b0\u4ea7\u54c1\u63a8\u51fa\uff0c\u6bd4\u5982\u56fd\u9645\u80a1\u7968\u3001\u4ee3\u5e01\u5316\u80a1\u7968\u3001Kraken\u501f\u8bb0\u5361\u548cNinjaTrader\u53d1\u5c55\u7b49\u3002<\/p>\n<p class=\"ql-align-center\"><img decoding=\"async\" alt=\"Strategy\" src=\"https:\/\/hx24-prod.mars-block.com\/image\/crawler\/2025\/08\/04\/1754274106779466.jpg\" data-first-enter-image=\"true\"><\/p>\n<p>\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0cKraken\u6b63\u5bfb\u6c42\u4ee5150\u4ebf\u7f8e\u5143\u4f30\u503c\u878d\u8d445\u4ebf\u7f8e\u5143\uff0c\u5e76\u8ba1\u5212\u4e8e2026\u5e74\u8fdb\u884cIPO\u3002\u5bf9\u6b64\uff0cinsights4.vc.\u5206\u6790\u79f0\uff0cKraken\u51ed\u501f\u7528\u6237\u8d28\u91cf\u548c\u4ea4\u6613\u6d3b\u8dc3\u5ea6\u5747\u5904\u4e8e\u884c\u4e1a\u524d\u5217\uff0c\u5e76\u901a\u8fc7\u62d3\u5c55\u884d\u751f\u54c1\u3001\u80a1\u7968\u4ea4\u6613\u3001\u652f\u4ed8\u670d\u52a1\u7b49\u65b0\u4e1a\u52a1\uff0c\u4e0d\u65ad\u964d\u4f4e\u5bf9\u73b0\u8d27\u624b\u7eed\u8d39\u7684\u4f9d\u8d56\uff0c\u589e\u5f3a\u81ea\u8eab\u5bf9\u5e02\u573a\u5468\u671f\u7684\u6297\u98ce\u9669\u80fd\u529b\u3002\u540c\u65f6\uff0c\u5728\u76d1\u7ba1\u8d8b\u4e25\u7684\u5927\u80cc\u666f\u4e0b\uff0cKraken\u5df2\u83b7\u5f97\u591a\u5730\u5408\u89c4\u724c\u7167\uff0c\u5728\u5408\u89c4\u6027\u3001\u5b89\u5168\u6027\u4e0e\u6cd5\u5e01\u5165\u53e3\u670d\u52a1\u65b9\u9762\u5177\u6709\u663e\u8457\u4f18\u52bf\u3002\u9762\u5bf9\u6765\u81eaBinance\u4e0eCoinbase\u7684\u6fc0\u70c8\u7ade\u4e89\uff0cKraken\u5df2\u6210\u529f\u5efa\u7acb\u8d77\u4ee5\u4ea7\u54c1\u591a\u6837\u6027\u548c\u900f\u660e\u5408\u89c4\u4e3a\u6838\u5fc3\u7684\u201c\u7b2c\u4e8c\u68af\u961f\u201d\u54c1\u724c\u5b9a\u4f4d\u3002\u82e5\u52a0\u5bc6\u5e02\u573a\u5728\u672a\u6765\u4e00\u5e74\u7ee7\u7eed\u590d\u82cf\uff0cKraken\u6709\u671b\u6210\u4e3a\u7ee7Coinbase\u540e\u53c8\u4e00\u5bb6\u76c8\u5229\u7a33\u5b9a\u3001\u5408\u89c4\u7684\u52a0\u5bc6\u4ea4\u6613\u6240\u4e0a\u5e02\u516c\u53f8\u3002<\/p>\n<h3><strong>Riot 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