Coinbase's latest report predicts a positive outlook for the cryptocurrency market in the second half of 2025, but warns that the high leverage buying of Bitcoin through convertible debt by listed companies may bring "systemic risks". Currently, 228 listed companies hold approximately 820000 BTC, of which about 20 are using MicroStrategy style financing structure. If the market experiences a major shock or debt matures in 2029-2030, it may trigger passive selling; Coinbase believes that short-term risks are controllable, and the key lies in the ability to refinancing in the future. (TheBlock) http://(wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=44020