判定: buy · peers $197.79 (+23.2%) · method: comparables only

⚠ DCF unavailable: same-period, same-currency capital expenditure is unavailable, so operating cash flow cannot be reconciled to FCFF. Financial evidence and eligible comparables remain available. · Peers swapped to "Regulated crypto infrastructure" cohort: US-regulated venue + custody + staking + L2 (Base) + USDC float. Differs from miners and unregulated exchanges.

上次更新 2026-10-30 · 資料來源：SEC EDGAR 13F、美國國會 STOCK Act 申報
非投資建議。13F 每季申報，最多落後 45 天；國會申報同樣最多落後 45 天，而且只揭露金額區間，不是精確金額。