[Coinbase Head of Research: The Era of "Easy Money" for Crypto Treasuries Is Over, Potentially Beneficial for the Crypto Market] According to a report by Jinse Finance, Coinbase stated that publicly traded companies purchasing cryptocurrencies are entering a "player vs. player" phase, where companies will compete more fiercely for investor funds. This could potentially drive up prices in the crypto market. David Duong, Coinbase's Head of Research, and researcher Colin Basco noted in a report on Wednesday: "The days of easy money and guaranteed NAV (Net Asset Value) premiums are over." They pointed out that Digital Asset Treasuries (DATs) are now in a "player vs. player" phase, where "strategically positioned participants will stand out," and they expect the crypto market to "benefit from these capital inflows, thereby boosting returns." Analysts also expressed concerns about the saturation of the market for companies purchasing crypto, suggesting that many of these companies may not survive in the long term. NYDIG stated on Friday that despite Bitcoin's rise, the value of many crypto treasury companies has still declined.