{"version":"1.0","provider_name":"Fortune Insight","provider_url":"https:\/\/prime.fortuneinsight.com\/web","author_name":"\u83ef\u723e\u8857\u65e5\u5831\uff08\u514d\u8cbb\u8a66\u95b1\uff09","author_url":"https:\/\/prime.fortuneinsight.com\/web\/posts\/author\/wsj","title":"\u52a0\u5bc6\u8ca8\u5e63\u5d29\u76e4\u6216\u70ba\u7d93\u6fdf\u63d0\u524d\u6383\u96f7 - Fortune Insight","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\"><a href=\"https:\/\/prime.fortuneinsight.com\/web\/posts\/709187\">\u52a0\u5bc6\u8ca8\u5e63\u5d29\u76e4\u6216\u70ba\u7d93\u6fdf\u63d0\u524d\u6383\u96f7<\/a><\/blockquote>\n<script type='text\/javascript'>\n<!--\/\/--><![CDATA[\/\/><!--\n\t\t!function(c,d){\"use strict\";var e=!1,n=!1;if(d.querySelector)if(c.addEventListener)e=!0;if(c.wp=c.wp||{},!c.wp.receiveEmbedMessage)if(c.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var 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class=\"wp-embedded-content\"><\/iframe>","thumbnail_url":"https:\/\/prime-fortuneinsight-cloud.s3.ap-southeast-1.amazonaws.com\/web\/wp-content\/uploads\/2022\/11\/25172213\/WSJ-FIP-Template-53.png","thumbnail_width":1000,"thumbnail_height":525,"description":"BY GREG IP | UPDATED NOV 25, 2022 02:10 AM EST \u4eca\u5e74\u52a0\u5bc6\u8ca8\u5e63\u7684\u5d29\u76e4\u5177\u6709\u5178\u578b\u9280\u884c\u5371\u6a5f\u7684\u6240\u6709\u7279\u5fb5\uff1a\u64e0\u514c\u3001\u8ce4\u8ce3\u3001\u50b3\u67d3\u3002\u53ea\u662f\u6c92\u6709\u9280\u884c\u3002 \u4eca\u5e74\u52a0\u5bc6\u8ca8\u5e63\u7684\u5d29\u76e4\u5177\u6709\u5178\u578b\u9280\u884c\u5371\u6a5f\u7684\u6240\u6709\u7279\u5fb5\uff1a\u64e0\u514c\u3001\u8ce4\u8ce3\u3001\u50b3\u67d3\u3002 \u53ea\u662f\u6c92\u6709\u6d89\u53ca\u9280\u884c\u3002 \u770b\u770b\u52a0\u5bc6\u8ca8\u5e63\u5e73\u53f0Voyager Digital Holdings Inc.\u3001Celsius Network LLC\u548cFTX Trading Ltd.\u4ee5\u53ca\u5c0d\u6c96\u57fa\u91d1Three Arrows Capital\u7684\u7834\u7522\u7533\u8acb\uff0c\u4f60\u6703\u767c\u73fe\u5b83\u5011\u6700\u5927\u50b5\u6b0a\u4eba\u7684\u540d\u55ae\u4e2d\u6c92\u6709\u4efb\u4f55\u9280\u884c\u3002 \u7834\u7522\u7533\u8acb\u4e26\u975e\u4e00\u6e05\u4e8c\u695a\uff0c\u5b83\u5011\u5c07\u8a31\u591a\u6700\u5927\u7684\u50b5\u6b0a\u4eba\u7a31\u70ba\u5ba2\u6236\u6216\u5176\u4ed6\u52a0\u5bc6\u8ca8\u5e63\u76f8\u95dc\u516c\u53f8\u3002\u63db\u53e5\u8a71\u8aaa\uff0c\u52a0\u5bc6\u8ca8\u5e63\u516c\u53f8\u662f\u5728\u4e00\u500b\u9589\u74b0\u4e2d\u904b\u4f5c\u7684\uff0c\u5728\u9019\u500b\u9589\u74b0\u4e2d\u5f7c\u6b64\u76e4\u6839\u932f\u7bc0\uff0c\u4f46\u8207\u50b3\u7d71\u91d1\u878d\u884c\u696d\u5e7e\u4e4e\u6c92\u6709\u660e\u986f\u91cd\u5927\u806f\u7e6b\u3002\u9019\u5c31\u89e3\u91cb\u4e86\u4e00\u500b\u66fe\u7d93\u50f9\u503c\u7d043\u5146\u7f8e\u5143\u7684\u8cc7\u7522\u985e\u5225\u5982\u4f55\u53ef\u80fd\u84b8\u767c\u638972%\u7684\u50f9\u503c\uff0c\u77e5\u540d\u4e2d\u4ecb\u6a5f\u69cb\u5982\u4f55\u53ef\u80fd\u7834\u7522\uff0c\u800c\u5c0d\u91d1\u878d\u7cfb\u7d71\u537b\u672a\u7522\u751f\u660e\u986f\u7684\u6ea2\u51fa\u6548\u61c9\u3002 \u8036\u9b6f\u5927\u5b78\u7d93\u6fdf\u5b78\u5bb6Gary Gorton\u548c\u5bc6\u6b47\u6839\u5927\u5b78\u6cd5\u5b78\u6559\u6388Jeffery Zhang\u5728\u5373\u5c07\u767c\u8868\u7684\u4e00\u7bc7\u8ad6\u6587\u4e2d\u5beb\u9053\uff1a\u300c\u5e63\u5708&#8230;&#8230;\u57fa\u672c\u4e0a\u5728\u81ea\u5df1\u7684\u5708\u5b50\u88e1\u5faa\u74b0\u3002\u300d\u8ad6\u6587\u7a31\uff1a\u300c\u4e00\u65e6\u52a0\u5bc6\u8ca8\u5e63\u9280\u884c\u5f9e\u6295\u8cc7\u8005\u90a3\u88e1\u7372\u5f97\u5b58\u6b3e\uff0c\u9019\u4e9b\u516c\u53f8\u5c31\u6703\u501f\u6b3e\u3001\u8cb8\u6b3e\uff0c\u4e26\u76f8\u4e92\u4ea4\u6613\u3002\u5b83\u5011\u4e0d\u8ddf\u8207\u5be6\u9ad4\u7d93\u6fdf\u76f8\u9023\u7684\u516c\u53f8\u5f80\u4f86\u3002\u300d \u9451\u65bc\u76e3\u7ba1\u6a5f\u69cb\u548c\u9280\u884c\u5bb6\u63a5\u53d7\u52a0\u5bc6\u8ca8\u5e63\u7684\u58d3\u529b\u4e0d\u65b7\u52a0\u5927\uff0c\u5e7e\u5e74\u5f8c\u60c5\u6cc1\u672c\u53ef\u80fd\u6703\u6709\u6240\u4e0d\u540c\u3002\u800c\u52a0\u5bc6\u8ca8\u5e63\u5d29\u76e4\u53ef\u80fd\u5df2\u9632\u6b62\u4e86\u9019\u7a2e\u60c5\u6cc1\u4e43\u81f3\u4e00\u5834\u7bc4\u570d\u5927\u5f97\u591a\u7684\u5371\u6a5f\u767c\u751f\u3002 \u9577\u671f\u4ee5\u4f86\uff0c\u52a0\u5bc6\u8ca8\u5e63\u4e00\u76f4\u88ab\u5ba3\u50b3\u70ba\u4e0d\u53d7\u76e3\u7ba1\u3001\u533f\u540d\u3001\u7121\u6469\u64e6\u3001\u66f4\u5bb9\u6613\u7372\u5f97\u7684\u66ff\u4ee3\u50b3\u7d71\u9280\u884c\u548c\u8ca8\u5e63\u7684\u9078\u64c7\u3002\u7136\u800c\uff0c\u52a0\u5bc6\u8ca8\u5e63\u5982\u96e8\u5f8c\u6625\u7b4d\u822c\u6e67\u73fe\u7684\u9019\u6a23\u4e00\u500b\u751f\u614b\u7cfb\u7d71\u770b\u8d77\u4f86\u5f88\u50cf\u9280\u884c\u7cfb\u7d71\uff0c\u63a5\u53d7\u5b58\u6b3e\u548c\u63d0\u4f9b\u8cb8\u6b3e\u3002Gorton\u548cZhang\u5beb\u9053\uff1a\u300c\u52a0\u5bc6\u8ca8\u5e63\u501f\u8cb8\u5e73\u53f0\u518d\u6b21\u91cd\u5851\u4e86\u6574\u500b\u9280\u884c\u696d\u2026\u2026\u5982\u679c\u4e00\u500b\u5be6\u9ad4\u5f9e\u4e8b\u501f\u8cb8\u696d\u52d9\uff0c\u5373\u4f7f\u5b83\u6c92\u6709\u88ab\u8cbc\u4e0a\u9280\u884c\u7684\u6a19\u7c64\uff0c\u5b83\u5728\u7d93\u6fdf\u4e0a\u4e5f\u7b49\u540c\u65bc\u4e00\u5bb6\u9280\u884c\u3002\u300d 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Arrows\u4e0d\u5f97\u4e0d\u6e05\u76e4\u3002\u8cb8\u6b3e\u7d66Three Arrows\u800c\u8499\u53d7\u7684\u640d\u5931\u4ee5\u53caCelsius\u5d29\u76e4\u5f15\u767c\u7684\u9023\u9396\u5f71\u97ff\u8feb\u4f7fVoyager\u9032\u5165\u7834\u7522\u4fdd\u8b77\u3002 \u8207\u6b64\u540c\u6642\uff0cFTX\u7684\u4ea4\u6613\u95dc\u806f\u516c\u53f8Alameda Research\u8207Voyager\u4e4b\u9593\u76f8\u4e92\u8cb8\u6b3e\uff0c\u800cAlameda\u548cCelsius\u4e5f\u662f\u4e92\u6709\u98a8\u96aa\u655e\u53e3\u3002\u4f46\u6b63\u662fFTX\u548cAlameda\u7684\u95dc\u806f\u6210\u70ba\u4e86\u9019\u5169\u5bb6\u516c\u53f8\u57ae\u53f0\u7684\u6839\u7531\u3002\u50cf\u8a31\u591a\u5e73\u53f0\u4e00\u6a23\uff0cFTX\u767c\u884c\u4e86\u81ea\u5df1\u7684\u52a0\u5bc6\u8ca8\u5e63FTT\u3002\u4f46\u88ab\u767c\u73feFTT\u69cb\u6210\u4e86Alameda\u7684\u4e3b\u8981\u8cc7\u7522\u5f8c\uff0c\u53e6\u4e00\u500b\u4e3b\u8981\u5e73\u53f0\u5e63\u5b89(Binance)\u8868\u793a\u5c07\u62cb\u552e\u81ea\u5df1\u6301\u6709\u7684FTT\uff0c\u5f9e\u800c\u89f8\u767c\u4e86\u5c0e\u81f4FTX\u5d29\u6f70\u7684\u64e0\u514c\u3002 \u53e6\u4e00\u5bb6\u52a0\u5bc6\u8ca8\u5e63\u8cb8\u6b3e\u6a5f\u69cbGenesis Global Capital\u5c0dThree Arrows\u548cAlameda\u90fd\u6709\u98a8\u96aa\u655e\u53e3\u3002\u5728FTX\u5012\u9589\u5f8c\uff0cGenesis\u5df2\u7d93\u66ab\u505c\u63d0\u6b3e\u4e26\u5c0b\u6c42\u7372\u5f97\u5916\u90e8\u73fe\u91d1\u3002\u64da\u300a\u83ef\u723e\u8857\u65e5\u5831\u300b(The Wall Street Journal)\u5831\u5c0e\uff0c\u53e6\u4e00\u5bb6\u5c0dFTX\u548cAlameda\u6709\u98a8\u96aa\u655e\u53e3\u7684\u52a0\u5bc6\u8ca8\u5e63\u8cb8\u6b3e\u6a5f\u69cbBlockFi\u6b63\u6e96\u5099\u63d0\u4ea4\u7834\u7522\u7533\u8acb\u3002 \u91d1\u878d\u7a69\u5b9a\u76e3\u7ba1\u59d4\u54e1\u6703(Financial Stability Oversight Council, \u7c21\u7a31FSOC)\u572810\u6708\u4efd\u7684\u4e00\u4efd\u5831\u544a\u4e2d\u7528\u4e00\u5f35\u5927\u8868\u5f88\u597d\u5730\u986f\u793a\u51fa\u9019\u4e9b\u52a0\u5bc6\u8ca8\u5e63\u53c3\u8207\u8005\u4e4b\u9593\u76e4\u6839\u932f\u7bc0\u7684\u7a0b\u5ea6\uff1b\u8a72\u59d4\u54e1\u6703\u7531\u591a\u5bb6\u806f\u90a6\u91d1\u878d\u76e3\u7ba1\u6a5f\u69cb\u7d44\u6210\u3002 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