唐納德·特朗普總統宣布特朗普加密保護區，包括XRP，Solana（Sol）和Cardano（ADA）

華盛頓特區 - 1月23日：美國總統唐納德·特朗普（Donald Trump）的AI和Crypto沙皇戴維·薩克斯（David Sacks）聆聽……[+]特朗普總統簽署了許多執行命令。

President Donald Trump’s recent announcement regarding the Trump Crypto Reserve, which includes XRP, Solana (SOL), and Cardano (ADA), has ignited a significant wave of discussion, speculation, and debate.

唐納德·特朗普（Donald Trump）總統最近就包括XRP，Solana（Sol）和Cardano（ADA）在內的特朗普加密保護區（Trump Crypto Reserve）宣布，引發了一大批討論，推測和辯論。

This follows up on a previous post, just minutes ago, which stated that President Trump’s administration is planning to add bitcoin and ethereum to the U.S. crypto reserve.

就在幾分鐘前的上一篇文章中，這是對特朗普總統政府計劃在美國加密儲備中增加比特幣和以太坊的一篇文章。

Of the three tokens mentioned by Trump, XRP is the most well-known, often touted for its liquidity and wide adoption among retail traders. It’s also the only token on the list that is not a Layer-1 blockchain, instead serving as a bridge between different networks.

在特朗普提到的三個令牌中，XRP是最著名的，通常因其流動性和在零售商人中廣泛收養而受到吹捧。它也是列表中唯一不是第1層區塊鏈的令牌，而是用作不同網絡之間的橋樑。

Solana, known for its high throughput and low transaction fees, has seen increased adoption in the DeFi and NFT sectors. However, Solana’s network has suffered several outages in recent years, raising concerns among those seeking a truly decentralized and secure monetary network.

以高通量和低交易費用而聞名的索拉納（Solana）在Defi和NFT領域的採用增加了。但是，近年來，索拉納（Solana）的網絡遭受了數次停電，這引起了尋求真正分散和安全的貨幣網絡的人們的擔憂。

Cardano, on the other hand, prides itself on its academic foundation and peer-reviewed codebase. Cardano’s ADA token is the native currency of the Cardano blockchain, and it’s used for paying transaction fees and securing the network through Proof-of-Stake.

另一方面，Cardano以其學術基金會和同行評審的代碼庫感到自豪。 Cardano的ADA令牌是Cardano區塊鏈的原始貨幣，它用於支付交易費用並通過銷售證明來確保網絡。

Bitcoin, uniquely distinguished by its liquidity, security, and true decentralization, is notably absent from this initial list.

比特幣獨特地以其流動性，安全性和真實的權力下放為特色，在此初始列表中顯然不存在。

This oversight is puzzling, especially in light of Trump’s previous public statements and commitments to including bitcoin in any U.S. digital asset holdings.

這種監督令人困惑，尤其是鑑於特朗普以前的公開聲明和對在美國任何數字資產持有量中都包括比特幣的承諾。

The president’s crypto policy advisors—Sacks, who is also in charge of AI policy, and Executive Director Bo Hines—have shown limited knowledge, if not outright confusion, regarding digital asset technology.

總統的加密政策顧問（也負責AI政策）和執行董事Bo Hines的行為顧問對數字資產技術的知識有限，即使不是完全混亂，也表現出有限的知識。

This is evident in the poorly timed launch of $TRUMP and $MELANIA coins before the inauguration, an attempt to quickly capitalize on the president’s name in the hopes of attracting attention to the administration’s broader agenda.

這在就職典禮之前定時推出$ trump和$ Melania硬幣的時間很明顯，這是試圖快速利用總統的名字，以期引起人們對政府更廣泛的議程的關注。

However, there exists a clear disconnect between the White House’s assertions and the real-world implications. As Sacks continues to manage “crypto” policy, it opens the door to errors that may hinder bitcoin’s progress and mislead consumers.

但是，白宮的斷言與現實世界的含義之間存在明顯的脫節。隨著麻袋繼續管理“加密”政策，它為可能阻礙比特幣進展並誤導消費者的錯誤打開了大門。

The various scandals and mishaps that have impacted the broader digital asset landscape will likely carry over to negatively affect the public’s perception of bitcoin.

影響更廣泛的數字資產格局的各種醜聞和事故可能會對公眾對比特幣的看法產生負面影響。

Essentially, there is a tangible risk that the White House’s renewed focus on “crypto” could overshadow the far more pertinent narrative surrounding bitcoin.

從本質上講，白宮對“加密”的重新關注可能掩蓋了比特幣周圍更相關的敘述，這是一個明顯的風險。

The Promise and the Problem

承諾和問題

The idea of a national digital asset reserve, even if it includes tokens that lack bitcoin’s fundamental advantages, is not entirely unfounded.

國家數字資產儲備的想法，即使它包括缺乏比特幣基本優勢的代幣，但並非完全沒有根據。

One could argue that introducing retail investors, institutions, and policymakers to the concept of buying and holding digital assets can ultimately ease the pathway to bitcoin adoption. This obstacle is significant in the U.S., where several politicians still view “cryptocurrency” as a single entity.

有人可能會說，將散戶投資者，機構和決策者介紹購買和持有數字資產的概念最終可以減輕採用比特幣的途徑。在美國，這種障礙很重要，在美國，幾位政客仍然將“加密貨幣”視為一個實體。

However, we have seen positive developments when governments take a well-considered approach, as evidenced by Texas’s ongoing deliberations about potentially establishing its own Strategic Bitcoin Reserve. Eventually, policymakers will recognize that bitcoin’s liquidity far surpasses that of nearly all other digital assets, and a strong state-level treasury featuring bitcoin could emerge as a critical factor in economic resilience.

但是，當政府採取良好思考的方法時，我們已經看到了積極的發展，這是德克薩斯州對潛在建立自己的戰略比特幣儲備的持續審議所證明的。最終，決策者將認識到，比特幣的流動性遠遠超過了幾乎所有其他數字資產的流動性，而且具有比特幣的強大國家級財政部可能會成為經濟彈性的關鍵因素。

In contrast, Trump’s proposal reflects a considerable lack of discernment.

相比之下，特朗普的提議反映了相當大的辨別力。

By including relatively illiquid tokens with market capitalization substantially lower than that of bitcoin, Sacks’s team introduces a multitude of new challenges. Just last week, bitcoin’s daily trading volume reached tens of billions of dollars.

通過將相對易流動的代幣與市值低於比特幣的代幣，Sacks的團隊引入了許多新的挑戰。就在上週，比特幣的日常交易量達到了數万美元。

In comparison, XRP, SOL, and ADA appeal primarily to hobbyist traders who can instigate significant price fluctuations and liquidity crunches with modest trades. Furthermore, the Solana network has experienced intermittent outages, while XRP is governed by a group of insiders.

相比之下，XRP，SOL和ADA主要呼籲業餘商交易員，他們可以通過適度的交易來增加價格波動和流動性脆弱性。此外，Solana網絡已經經歷了間歇性的中斷，而XRP則由一組內部人員約束。

The political repercussions of a failed crypto project could be detrimental, both for the Trump administration and for Americans hoping to benefit from the financial freedom that bitcoin provides.

對於特朗普政府和希望從比特幣提供的財務自由中受益的美國人來說，失敗的加密項目的政治影響可能是有害的。

Should one or more of these tokens falter after the White House links a portion of the U.S. reserve to them, Trump’s team might face scrutiny over “poor crypto choices” or, worse, the kind of embarrassing scandals that have befallen past administrations due to misguided economic policies.

如果白宮將一部分美國預備役與他們聯繫起來後，這些代幣中的一個或多個都會步履蹣跚，那麼特朗普的團隊可能會對“糟糕的加密貨幣選擇”面臨審查，或者更糟糕的是，由於經濟誤導的經濟政策，這種令人尷尬的醜聞曾被過去的政府造成。

Within the broader digital asset arena, we have observed how failures of tokens can trigger swift regulatory crackdowns, criminal investigations, and a general public disenchantment with blockchain-based technologies.

在更廣泛的數字資產領域中，我們觀察到令牌的失敗如何觸發迅速的監管鎮壓，刑事調查以及對基於區塊鏈的技術的一般公眾脫穎而出。

The collapse of Terra in 2022 reverberated globally, and the FTX scandal continues to echo through the corridors of Washington power. Whenever such downfalls occur, politicians scramble for cover, fresh regulations are hastily implemented, and genuine technological advancements risk being drowned out by the surrounding chaos.

2022年，Terra的崩潰在全球範圍內迴盪，FTX醜聞繼續通過華盛頓力量的走廊迴盪。每當發生這種倒台時，政客爭先恐後地掩蓋了新的法規，而真正的技術進步可能會被周圍的混亂淹沒。

This highlights a significant issue: confusion within the marketplace. When a sitting president suggests that all “digital assets” offer similar utility or stability, it causes a blurring of distinctions, perpetuating the idea that “bitcoin is merely one crypto among many.”

這突出了一個重要的問題：市場內的混亂。當一位現任總裁建議所有“數字資產”提供類似的效用或穩定性時，它會導致區分的模糊，這使“比特幣僅僅是許多加密貨幣”的想法。

This is misleading for individuals who conflate an innovation with a proven

這對於將創新與經過驗證的人混為一談的個人是誤導的