天秤座的興衰：關於不受監管的加密貨幣市場風險的警告性故事

加密貨幣市場對波動，投機趨勢和備受矚目的認可並不陌生，這些趨勢通常會導致價格波動。但是，很少有情況像最近涉及阿根廷總統賈維爾·米利（Javier Milei）和天秤座的案件那樣引起爭議。最初看似熱情的認可變成了成千上萬投資者的金融災難，提出了有關加密貨幣領域影響者的道德責任，金融監管和未經檢查的權力的疑問。

Argentine President Javier Milei recently sparked controversy after deleting a tweet endorsing a memecoin called Libra, leading to a market crash and accusations of a “pump and dump” scheme. Here's a summary of the events and their broader implications.

阿根廷總統哈維爾·米利（Javier Milei）最近在刪除了一條名為“天秤座的紀念物”的推文後引發了爭議，導致市場崩潰並指控“泵和垃圾場”計劃。這是事件及其更廣泛含義的摘要。

The Rise and Fall of Libra Memecoin

天秤座的興衰

Launched about two weeks prior to the controversy, Libra memecoin had garnered minimal attention until President Milei posted about it on social media platform X (formerly Twitter). In his post, Milei touted Libra as a financial tool that could benefit Argentina's struggling economy. This unexpected endorsement led to an immediate surge in the token's value, attracting a flood of investors eager to capitalize on the sudden momentum.

在爭議前大約兩個星期發起，天秤座的Memecoin受到了最小的關注，直到麥利總統在社交媒體平台X（以前是Twitter）上發布了有關它的關注。在他的帖子中，麥莉（Milei）吹捧天秤座作為一種財務工具，可以使阿根廷苦苦掙扎的經濟受益。這種意外的認可導致令牌的價值激增，吸引了大量渴望利用突然勢頭的投資者。

However, the enthusiasm was short-lived. Within hours of posting his endorsement, Milei deleted the tweet, triggering a massive sell-off that saw the token's value plummet. According to blockchain research firm Nansen, an estimated 86% of investors suffered significant losses, totaling a staggering $251 million. Meanwhile, a small group of insiders allegedly made off with $180 million in profits, fueling accusations of market manipulation and unethical behavior.

但是，熱情是短暫的。在發布他的認可後的幾個小時內，Milei刪除了這條推文，引發了大量拋售，使該令牌的價值暴跌。根據區塊鏈研究公司Nansen的數據，估計有86％的投資者遭受了巨大的損失，總計2.51億美元。同時，據稱一小群內部人以1.8億美元的利潤賺了出來，這加劇了市場操縱和不道德行為的指控。

Accusations of a “Pump and Dump” Scheme

指控“泵送”計劃

The abrupt rise and fall of Libra memecoin led to widespread speculation that President Milei was involved in a “pump and dump” scheme. In such schemes, an individual or group artificially inflates the price of an asset through promotional tactics before selling their holdings at a high, leaving other investors to suffer losses when the price inevitably crashes.

天秤座紀念物的突然崛起和下降導致人們廣泛猜測麥莉（Milei）總統參與了“泵和垃圾場”計劃。在此類計劃中，個人或團體通過促銷策略人為地誇大了資產的價格，然後才以高價出售其持股，而當價格不可避免地崩潰時，其他投資者則遭受損失。

While Milei denied any wrongdoing, critics argue that the on-chain data strongly suggests otherwise. Nansen's report analyzed over 15,000 crypto wallets that participated in Libra trading, highlighting how early investors—presumably insiders—exited their positions at the peak, securing millions in profits.

儘管麥莉否認任何不當行為，但批評家認為，鏈上的數據強烈建議其他情況。 Nansen的報告分析了15,000多個參與天秤座交易的加密錢包，強調了早期的投資者（可能是內部人士）在峰值上的職位，從而獲得了數百萬美元的利潤。

Nicolai Sondergaard, an analyst at Nansen, stated, “We see very tangible on-chain evidence showing a group of ‘insiders’ unilaterally profiting off of the masses who got involved.” This statement added fuel to the fire, leading to public outrage and calls for an official investigation into the matter.

Nansen的分析師Nicolai Sondergaard表示：“我們看到非常有形的鏈證據，表明一群“內部人士”單方面從參與的群眾中獲利。”該聲明增加了大火的燃料，導致公眾憤怒，並呼籲對此事進行正式調查。

The Role of Trading Bots and Market Manipulation

交易機器人和市場操縱的作用

A significant factor in the rapid rise and collapse of Libra memecoin was the role played by automated trading bots, commonly known as “snipers.” These bots are designed to exploit emerging trends, executing rapid trades based on social media activity and hype cycles. When Milei posted his endorsement, snipers flooded the market, buying up large quantities of Libra, further inflating its price.

自動交易機器人（通常稱為“狙擊手”）所扮演的角色，天秤座的快速上升和崩潰的重要因素是。這些機器人旨在利用新興趨勢，基於社交媒體活動和炒作週期進行快速交易。當麥莉（Milei）發布他的認可時，狙擊手淹沒了市場，購買了大量天秤座，進一步誇大了其價格。

However, when Milei deleted the post, the automated systems reversed course just as quickly, triggering a cascading effect that sent the token into freefall. This pattern is common in the crypto space, where trading bots often take advantage of human psychology and market momentum to extract profits before retail investors can react.

但是，當Milei刪除該帖子時，自動化系統會迅速逆轉課程，從而觸發了使令牌變為自由落體的級聯效應。這種模式在加密貨幣領域很常見，在加密貨幣領域，交易機器人經常利用人類的心理學和市場動力來提取零售投資者可以做出反應之前提取利潤。

After Milei's endorsement, and before its value crashed, Libra was trading at about $4.5 billion at its peak, according to CoinMarketCap.

根據CoinMarketCap的數據，在麥利的認可之後，在其價值崩潰之前，天秤座的交易價格約為45億美元。

After the Crash: Libra's Market Position and Involvement in Milei's Economic Policies

墜機事故發生後：天秤座的市場地位以及參與麥莉的經濟政策

Before Milei's endorsement, Libra was an unknown token with minimal trading activity. At its peak, following the presidential endorsement, the token reached a valuation of approximately $4.5 billion. However, in the aftermath of the crash, Libra's value nosedived, leaving it ranked as the 551st largest cryptocurrency, with a market capitalization of just $55 million as of Thursday evening, according to CoinMarketCap data.

在麥莉（Milei）認可之前，天秤座是一個未知的令牌，具有最少的交易活動。在總統認可之後，該代幣達到了約45億美元的估值。但是，根據CoinMarketCap數據，墜機事件發生後，天秤座的價值陳舊，將其排名為第551大加密貨幣，截至週四晚上，市值僅為5500萬美元。

This dramatic decline highlights the risks associated with investing in speculative assets driven by hype rather than fundamental value. Many retail investors who bought into Libra at its peak were left with substantial losses, prompting further scrutiny of Milei's involvement in the affair.

這種巨大的下降凸顯了與炒作驅動的投機資產投資相關的風險，而不是基本價值。許多在高峰期購買天秤座的散戶投資者遭受了巨大的損失，促使麥利（Milei）參與此事的進一步審查。

Legal and Ethical Ramifications of Milei's Involvement

麥莉參與的法律和道德後果

The controversy surrounding Milei's endorsement of Libra has led to significant political and legal repercussions. Opposition leaders in Argentina have accused him of misleading the public and engaging in unethical financial practices. Some critics have even called for impeachment proceedings, arguing that his actions violated public trust and potentially constituted financial fraud.

圍繞麥利對天秤座認可的爭議導致了重大的政治和法律影響。阿根廷的反對派領導人指責他誤導了公眾並從事不道德的財務做法。一些批評家甚至呼籲進行彈each程序，認為他的行為違反了公共信任，並可能構成了財務欺詐。

Legal experts point out that while promoting a cryptocurrency is not inherently illegal, doing so without disclosing vested interests or potential conflicts of interest could constitute market manipulation. The lack of regulatory oversight in the cryptocurrency sector complicates matters, as many existing financial laws do not explicitly cover digital assets.

法律專家指出，在促進加密貨幣的同時，並非固有地非法，而這樣做的情況下沒有披露既得利益或潛在的利益衝突可能構成市場操縱。加密貨幣部門缺乏監管監督會使事情變得複雜，因為許多現有的金融法律並未明確涵蓋數字資產。

Economic Landscape Under Milei's Leadership

麥利領導下的經濟格局

The Libra controversy comes at a time when Argentina's economy is undergoing significant transformation under President Milei's leadership. Since taking office, Milei has implemented a series of free-market reforms aimed at tackling hyperinflation and fiscal instability. While some of his policies have been praised for preventing economic collapse, others have been criticized for exacerbating wealth inequality and social unrest.

天秤座的爭議是在阿根廷經濟在米利總統領導下發生重大轉變的時候。自上任以來，米利（Milei）實施了一系列旨在應對過度通貨膨脹和財政不穩定的自由市場改革。儘管他的某些政策因防止經濟崩潰而受到稱讚，但其他政策因加劇財富不平等和社會動盪而受到批評。

Argentina has long struggled with economic instability, characterized by high inflation, currency devaluation, and recurring debt crises. Milei, a libertarian economist,

阿根廷長期以來一直在經濟不穩定中掙扎，其特徵是高通貨膨脹，貨幣貶值和經常性債務危機。麥莉（Milei），自由主義者的經濟學家，