唐納德·特朗普總統承諾將加密投資者迎來合法時代

全球3.5萬億美元的加密貨幣市場是一個大帳篷，而像比特幣這樣的代幣則佔據了行業的主導地位，但區塊鏈的開源，分散的性質

President Donald Trump promised crypto investors he’d usher in an era of legitimacy for an industry that’s long been relegated to the financial wilderness — dismissed by some mainstream investors as an highly speculative bet at best or an elaborate Ponzi scheme at worst.

總統唐納德·特朗普（Donald Trump）承諾，加密貨幣投資者將迎來一個長期以來一直降級到金融荒野的行業的合法時代，該行業被一些主流投資者駁回，作為一個高度投機性的賭注，最多是最多的龐氏騙局計劃。

But days before his inauguration, Trump shocked many of his crypto supporters by peddling a digital token known as a meme coin, a functionally worthless asset that trades on hype and are a go-to vehicle for scams known as rug pulls.

但是在就職典禮前幾天，特朗普通過兜售名為Meme Coin的數字代幣來震驚了他的許多加密支持者，這是一種功能上一文不值的資產，在炒作方面進行了交易，並且是騙局的騙局，被稱為地毯拉力。

To be clear, not all meme coins are scams, and the $TRUMP and $MELANIA coins appear to have safeguards built in to prevent a rug pull. Specifically, the Trump coin’s website says its majority holders are subject to a three-year unlocking schedule, so they can’t sell all at once. But even without selling a single token, the Trump Org. had raked in an estimated $58 million in a single day in trading fees alone, according to crypto researcher and former Coinbase executive Conor Grogan.

需要明確的是，並非所有的模因硬幣都是騙局，而特朗普和$ Melania硬幣似乎在內置有保障措施，以防止地毯拉。具體來說，特朗普硬幣的網站表示，其大多數持有人將遵守為期三年​​的解鎖時間表，因此他們不能一次出售全部。但是，即使沒有出售一個像徵，特朗普組織也是如此。 Crypto研究人員和前Coinbase Execione Conor Grogan表示，僅在一天中，僅在一天的交易費中就獲得了約5800萬美元的票房。

Yet meme coins have become known for rug pulls, in which developers launch a coin, run up its price and quickly cash out. If that sounds familiar, the “Hawk Tuah” influencer Haliey Welch was recently sued over her own coin, which briefly soared to a $500 million market cap before falling 90%. Welch said in a statement posted to X last month that she takes the situation seriously and is working to help affected investors.

然而，Meme硬幣以地毯拉力而聞名，在該地毯上，開發人員推出了一枚硬幣，上漲了價格並迅速兌現。如果聽起來很熟悉，那麼“霍克·圖阿”有影響力的人哈利·韋爾奇（Haliey Welch）最近被起訴自己的硬幣，在下跌90％之前，它短暫地飆升至5億美元的市值。韋爾奇在上個月發布給X的一份聲明中說，她認真對待局勢，並正在努力幫助受影響的投資者。

Meme coins represent the absurd, at times fraudulent, side of crypto that the increasingly wealthy proponents of the widely traded bitcoin and ether would like to move past. The fact that America’s first “pro-crypto” president is hawking a token with no tangible utility has some in the industry concerned about Trump and his advisers’ judgement as they prepare to overhaul the US regulatory regime with a new zeal for digital assets.

模因硬幣代表了加密貨幣的荒謬，有時是欺詐性的一面，即廣泛交易的比特幣和以太幣希望過去的人越來越富有的支持者。美國第一位“親克萊托普”總統正在賣掉沒有切實實用性的象徵，這一事實在行業中擔心特朗普及其顧問的判斷，因為他們準備對美國監管制度進行大修，並對數字資產的新熱情進行新的熱情。

“Trump needs to fire his crypto advisors, from top to bottom,” tweeted Gabor Gurbacs, founder of digital asset firm Pointsville.

數字資產公司Pointsville的創始人Gabor Gurbacs在推特上說：“特朗普需要從上到下解僱他的加密顧問。”

One giant ethical concern centers on Trump’s majority ownership of the tokens: 80% of the coin’s supply is held by Trump Organization affiliates CIC Digital and Fight Fight Fight LLC — a concentration that appears designed to personally enrich the president. Trump Org did not respond to a request for comment, but Eric Trump, the company’s executive vice president, said in an X post Saturday: “I am extremely proud of what we continue to accomplish in crypto. $Trump is currently the hottest digital meme on earth.”

一個巨大的道德關注點是特朗普對代幣的多數所有權的重點：特朗普組織的供應中有80％是由CIC Digital和Fight Fight Fight Fight Fight LLC持有的，這一集中似乎旨在個人豐富總統。特朗普·諾格（Trump Org）沒有回應置評請求，但是該公司執行副總裁埃里克·特朗普（Eric Trump）在周六的X帖子中說：“我為我們繼續在加密貨幣中所取得的成就感到自豪。 $特朗普目前是地球上最熱門的數字模因。”

“Even meme coin enthusiasts are skeptical of projects where the majority of tokens are not held by a broader community and appear to be designed in way that disproportionately benefits insiders,” Gareth Rhodes, managing director at advisory firm Pacific Street, told me. “But it is early, and the launch team can still take action to make it a more community-focused project.”

“即使是模因硬幣愛好者也對大多數代幣都不由更廣泛的社區持有的項目持懷疑態度，而且似乎以不成比例的方式設計的方式，”太平洋諮詢公司的董事總經理Gareth Rhodes告訴我。 “但是現在還早，發射團隊仍然可以採取行動使其成為一個更加社區的項目。”

Ethics experts swiftly decried the apparent conflict of interest.

道德專家迅速譴責了明顯的利益衝突。

Walter Shaub, the ethics watchdog who clashed with Trump during his first term before stepping down, told my colleague Matt Egan the meme coin maneuver suggests “the very idea of government ethics is now a smoldering crater.”

沃爾特·肖布（Walter Shaub）是道德監管機構在辭職之前與特朗普發生衝突的道德監管機構，他告訴我的同事馬特·埃根（Matt Egan），模因硬幣的動作表明：“政府道德規範的概念現在是一個悶悶不樂的火山口。”

The Trump administration, which officially entered the White House on Monday, didn’t respond to CNN’s request for comment.

週一正式進入白宮的特朗普政府沒有回應CNN的置評請求。

The dangers of meme coins

模因硬幣的危險

The global $3.5 trillion crypto market is a big tent, and while tokens like bitcoin dominate the industry, the open-sourced, decentralized nature of the blockchain, crypto’s infrastructure, makes it easy for any developer to launch a token, run up the price and walk away with impunity. According to Forbes, between 40,000 and 50,000 new meme coins are created every day, with a combined market value of $100 billion.

全球3.5萬億美元的加密市場是一個很大的帳篷，而像比特幣這樣的代幣則佔據了整個行業的主導地位，但區塊鏈的開源，分散的性質，Crypto的基礎架構，使任何開發商都可以輕鬆推出代價，付出價格，運行價格和價格和運行價格和運行價格，並且可以運行價格和跑步。不受懲罰地走開。根據福布斯的說法，每天創造40,000至50,000個新的模因硬幣，總市場價值為1000億美元。

People tend to buy meme coins for the novelty, but doing so is about as risky as playing a casino slot machine. Trump’s meme coin shot up after its launch Friday, from about $6.50 to $75 on Sunday, according to data from Coingecko. Then it tumbled, losing more than half its value on Monday as Trump entered the White House without any public nod to his crypto agenda. The price was hovering below $40 Tuesday.

人們傾向於為新穎性購買模因硬幣，但是這樣做就像玩賭場老虎機一樣冒險。根據Coingecko的數據，特朗普的模因硬幣在周五推出後從周日的$ 6.50到75美元升起。然後，當特朗普進入白宮而沒有任何公眾點頭，週一，它跌倒了，在周一損失了一半以上的價值。價格徘徊在星期二40美元以下。

Last week, just a few days before Trump launched his token, the New York State Department of Financial Services issued a consumer alert over “rapidly proliferating” meme coins, which present “exceptional risk of fraud and loss of funds.”

上週，在特朗普推出代幣的前幾天，紐約州金融服務部就“迅速繁殖”的模因硬幣發布了消費者警報，該硬幣呈現出“欺詐和資金損失的特殊風險”。

Matthew Homer, a former financial regulator and now general partner of the crypto firm Department of XYZ, echoed a common industry refrain that a lack of regulatory clarity around crypto has contributed to those fraud risks.

馬修·荷馬（Matthew Homer）是XYZ的加密貨幣公司部門的前金融監管機構，現在是XYZ的普通合夥人，他回應了一個共同的行業，即對加密貨幣的缺乏監管清晰度促成了這些欺詐風險。

The Securities and Exchange Commission’s approach, he said, “created a situation where projects with genuine utility face significant regulatory hurdles, while purely speculative assets do not.”

他說，美國證券交易委員會的方法“創造了一種情況，具有真正公用事業的項目面臨重大監管障礙，而純粹的投機資產則沒有。”

While bitcoin, the original cryptocurrency, bills itself as a sophisticated innovation with the power to revolutionize the financial system

在比特幣（原始的加密貨幣）中，比特幣將自己視為一項複雜的創新，具有革新金融體系的能力