Coinbase is poised to revolutionize its platform by launching an on-chain exchange that encompasses tokenized stocks, prediction markets, and early-stage token sales. This expansion, branded as an "everything exchange," will initially be available to U.S. users, according to Max Branzburg, Coinbase's VP of Product.

Coinbase有望通过推出涵盖标记股票，预测市场和早期令牌销售的链上交换来彻底改变其平台。 Coinbase的产品副总裁Max Branzburg表示，这种扩展最初将被称为“一切交易所”。

Branzburg describes the new platform as a comprehensive destination for a diverse range of assets. The exchange will facilitate trading across a broad spectrum of options, enabling users to access equities and participate in event prediction directly on the blockchain.

布兰兹堡将新平台描述为各种资产范围的综合目的地。该交易所将促进各种选项的交易，使用户能够访问股票并直接参与区块链上的事件预测。

This initiative represents Coinbase's latest endeavor to broaden its scope beyond its core cryptocurrency trading services.

该计划代表了Coinbase的最新努力，即扩大其范围超出其核心加密货币交易服务。

Prediction Markets and Tokenized Stocks: A Competitive Landscape

预测市场和令牌股票：竞争格局

The introduction of prediction markets places Coinbase in direct competition with established entities like Kalshi, currently the sole federally licensed prediction market operator in the U.S. Polymarket, a global competitor, also intends to enter the U.S. market through its acquisition of QCEX, a licensed derivatives exchange.

预测市场的引入使Coinbase与诸如Kalshi之类的已建立实体（当前是联邦许可的预测市场运营商）在美国Polymarket（全球竞争者）中直接竞争，这也打算通过对QCEX的批准（QCEX）的批准，这是一种许可的衍生产品交换。

Coinbase will also contend with platforms like Robinhood, Gemini, and Kraken in the realm of tokenized stocks. However, Coinbase holds a potential advantage as these other platforms offering tokenized equities do not currently cater to U.S. investors, giving Coinbase a head start in this specific market.

Coinbase还将与Robinhood，Gemini和Kraken这样的平台竞争，在令牌股票领域中。但是，Coinbase具有潜在的优势，因为这些提供令牌股票的其他平台目前不满足美国投资者，这使Coinbase在这个特定的市场中始终有所启动。

Alongside the product announcement, Coinbase released its quarterly earnings report. The report indicated a slight decrease in spot trading volume compared to the first quarter of . It also disclosed a financial impact of $307 million related to data theft incidents during the quarter.

除了产品公告外，Coinbase发布了其季度收益报告。该报告表明，与第一季度相比，现货交易量略有下降。它还披露了本季度与数据盗窃事件有关的3.07亿美元的财务影响。

Despite the announcement of expanded services and the financial report, Coinbase's stock (COIN) remained relatively stable on Thursday. Data from The Block indicated no significant movement in the share price during trading.

尽管宣布了扩大服务和财务报告，但Coinbase的股票（硬币）在周四仍然相对稳定。来自区块的数据表明，交易期间的股价没有重大变动。

Coinbase's strategy aims to transform its platform into an all-encompassing exchange model that seamlessly integrates traditional and blockchain-based assets. The forthcoming features are designed to provide U.S. users with direct access to a wider array of financial instruments within a single, unified ecosystem.

Coinbase的策略旨在将其平台转变为一个无所不包的交换模型，该模型无缝地集成了基于传统和区块链的资产。即将到来的功能旨在为美国用户提供直接访问单个统一生态系统中更广泛的金融工具。