在一系列內幕交易和地毯醜聞之後，Solana Meme Coin市場崩潰了

涉及內幕交易，地毯和市場操縱的引人注目的爭議對於Sol和Meme Coin交易者來說是個壞消息。

A series of high-profile controversies involving meme coins, rug-pulls and insider trading have left a sour taste in the mouths of crypto investors.

一系列引人注目的爭議涉及模因硬幣，地毯和內幕交易，在加密投資者的口中留下了酸味。

If you've been following the cryptocurrency markets closely over the last few weeks, you'll no doubt have seen the ongoing furore over a series of controversial meme coins that have crashed and burned in spectacular fashion.

如果您在過去幾周中一直在密切關注加密貨幣市場，那麼毫無疑問，您已經看到了一系列有爭議的模因硬幣正在持續的憤怒，這些硬幣崩潰並以壯觀的方式崩潰了。

Such is the scale of the controversy, it's even embroiled actual presidents (and not just former US president Donald Trump).

這就是爭議的規模，甚至是捲入實際的總統（不僅是前美國總統唐納德·特朗普）。

While claims of insider trading and market manipulation have plagued the cryptocurrency industry for years, the latest scandals present an existential threat to Solana and crypto as a whole.

儘管有關內部貿易和市場操縱的主張一直困擾著加密貨幣行業多年來，但最新的醜聞對整個索拉納和加密貨幣構成了生存威脅。

Here's a quick primer for those who haven't been following the story.

對於那些尚未關注這個故事的人來說，這是一個快速入門。

Solana, one of the most popular cryptocurrency networks, has become the de facto home of meme coins.

Solana是最受歡迎的加密貨幣網絡之一，已成為Meme Coins的事實上的故鄉。

Meme coins are a type of cryptocurrency that are mostly created as a joke and not intended to have any real utility.

模因硬幣是一種加密貨幣，主要是作為笑話而創建的，而不是打算擁有任何真正的效用。

Solana's fast transactions and low fees and the launch of platforms like pump.fun make it easy for anyone to launch their own coin.

索拉納（Solana）的快速交易和低費用以及諸如pump.fun之類的平台的推出，使任何人都可以輕鬆推出自己的硬幣。

This has led to thousands of new meme coins being created every day, with most failing to gain any traction, but some managing to catapult to billions of dollars in value.

這導致每天都會創建成千上萬的新模因硬幣，其中大多數沒有獲得任何吸引力，但有些人設法彈出了數十億美元的價值。

The most notable example was the launch of the official Donald Trump meme coin ($TRUMP) days before he was inaugurated as US president in January.

最值得注意的例子是唐納德·特朗普（Donald Trump）官方的模因硬幣（$ trump）在一月份被任命為美國總統之前。

This was then followed by the launch of the official Melania Trump meme coin ($MELANIA) days later.

隨後，幾天后官方的梅拉尼亞·特朗普·梅米硬幣（$ Melania）推出了這一點。

Both skyrocketed to multi-billion dollar valuations within hours, before plummeting soon after.

兩者都在幾個小時內飆升至數十億美元的估值，然後不久之後就暴跌。

Given the volatile nature of their price movement and clear links to the Trump family, accusations of insider trading soon followed.

鑑於其價格變動的動盪性和與特朗普家族的明確聯繫，很快就進行了內幕交易的指控。

Some early investors made millions of dollars in profit, leaving many others likely to have lost money.

一些早期的投資者賺了數百萬美元的利潤，而其他許多人可能損失了錢。

But it's the latest high profile meme coin launch that has sent shockwaves through the crypto industry and may signal the end of the Solana meme coin market.

但這是最新的知名模因硬幣發布，它通過加密貨幣行業造成了衝擊波，並可能標誌著Solana Meme Coin Coin Market的終結。

Last weekend, a meme coin called Libra ($LIBRA) launched on the Solana network.

上週末，在Solana Network上推出了一個名為Libra（$ libra）的模因硬幣。

30 minutes later, Argentinian president Javier Milei's official X/Twitter account announced that the Libra meme coin was a project to help fund Argentinian entrepreneurs and shared the contract address, an identification number that is needed in order to trade a cryptocurrency.

30分鐘後，阿根廷總統Javier Milei的官方X/Twitter帳戶宣布，天秤座的模因硬幣是一個項目，旨在幫助資助阿根廷企業家並共享合同地址，這是為了交易加密貨幣所需的識別號。

As a result, the price of Libra quickly shot up to US$4.45, giving it a market capitalisation of more than US$4 billion.

結果，天秤座的價格迅速達到4.45美元，使其市值超過40億美元。

It then crashed more than 95% within hours as early investors sold their coins for huge profits.

隨後，由於早期投資者以巨額利潤出售了硬幣，因此它在幾個小時內崩潰了95％。

Milei then publicly withdrew his support for the project and his account deleted the earlier posts.

然後，麥利公開撤回了對該項目的支持，他的帳戶刪除了較早的職位。

According to some analysis by Argentine crypto specialist Fernando Molina, while early investors made millions, around 75% of investors in Libra lost money.

根據阿根廷加密貨幣專家費爾南多·莫利納（Fernando Molina）的一些分析，儘管早期投資者賺了數百萬美元，但大約有75％的天秤座投資者損失了錢。

But that was just the start of the story.

但這只是故事的開始。

At the centre of the controversy is Hayden Davis, a crypto insider who has helped facilitate many of the highest-profile memecoin launches, including MELANIA and LIBRA.

爭議的中心是海頓·戴維斯（Hayden Davis），他是加密貨幣內部人士，他幫助促進了包括Melania和Libra在內的許多最高的Memecoin發射。

In an illuminating interview with crypto journalist Stephen Findeisen (known as Coffeezilla), Davis claims he made more than US$100 million from launching and selling Libra tokens.

戴維斯在接受加密記者史蒂芬·findeisen（稱為咖啡）的啟發採訪中聲稱，他通過推出和出售天秤座代幣而賺了1億美元。

Davis effectively admitted to a number of very serious (and likely illegal) actions, including insider trading and market manipulation.

戴維斯有效地承認了許多非常嚴重的（可能是非法的）行動，包括內幕交易和市場操縱。

He also implicated a number of others, including people involved in Solana and Meteora, the decentralised exchange used to launch Libra.

他還牽涉到其他許多人，包括參與Solana和Meteora的人，這是用於推出天秤座的分散交易所。

His admissions seem to confirm what many crypto investors have long suspected - that most high profile meme coins are created and launched by a series of insiders.

他的錄取似乎證實了許多加密投資者長期以來一直懷疑的東西 - 大多數知名模因硬幣都是由一系列內部人員創建和推出的。

These insiders are able to invest very early, often in cahoots with the platforms they launch on, and then "dump" their coins for huge profits once the coin launches and regular retail investors start buying.

這些內部人士能夠很早就投資，通常會與他們推出的平台一起使用，然後在硬幣推出並定期開始購買後“傾倒”硬幣以獲得巨額利潤。

To make matters worse, Davis admitted to refunding certain high-profile investors who may have lost money on Libra, including internet personality Dave Portnoy.

更糟糕的是，戴維斯承認退還了可能在天秤座上損失資金的某些備受矚目的投資者，包括互聯網個性的戴夫·波特諾伊（Dave Portnoy）。

Further revelations show Davis had bragged about having the ear of Argentinian president Milei because he had been sending payments to Milei's sister Karina.

進一步的啟示表明，戴維斯吹噓要擁有阿根廷總統米利的耳朵，因為他一直在向米利的姐姐卡琳娜寄來付款。

Milei is also facing impeachment calls over his involvement in the scandal.

麥莉（Milei）也面臨彈each的呼籲，因為他參與了醜聞。

Ben Chow, the Meteora co-founder, also resigned on Monday as a result of the Libra controversy, but denied any wrongdoing.

Meteora聯合創始人Ben Chow週一也因天秤座的爭議而辭職，但否認有任何不當行為。

Solana and meme coins have been one of the few crypto market success stories over the last 2 years.

在過去的兩年中，Solana和Meme硬幣一直是加密市場成功案例的少數幾個。

With investors generally needing to buy the Solana token ($SOL) to trade meme coins, the price of SOL rose from less than US$20 in late 2023 to more than US$250 by early 2025.

由於投資者通常需要購買Solana代幣（$ SOL）來交易模因硬幣，因此Sol的價格從2023年末的20美元不到20美元，到2025年初的250美元以上。

But the crypto markets have endured a tough time since the launch of the $TRUMP meme coin in January, and this latest controversy has damaged sentiment even further.

但是，自1月份$特朗普的模因硬幣推出以來，加密貨幣市場已經持續了一個艱難的時期，這一最新爭議進一步損害了情緒。

With more than 99% of investors reportedly losing

據報導，超過99％的投資者失去了