標題：唐納德·特朗普總統的加密投資組合繼續增長

唐納德·特朗普總統的加密投資組合繼續增長。他的加密項目世界自由金融已經推出了一個穩定的

President Donald Trump’s crypto portfolio continues to grow. His crypto project World Liberty Financial has launched a stablecoin, or a token pegged to a fiat currency like the U.S. dollar, according to a press release on Tuesday.

唐納德·特朗普總統的加密投資組合繼續增長。根據周二的新聞稿，他的加密項目世界自由金融公司（World Liberty Financial）發行了一個穩定的股幣，或者是與美元這樣的菲亞特貨幣掛鉤的。

Unlike Bitcoin or Ethereum can soar or plummet 10% in hours. As their name implies, stablecoins are designed not to fluctuate. This is achieved by creating a reserve, typically in cash or Treasury bills, that back the stablecoin on a one-to-one basis.

與比特幣或以太坊不同，幾小時可以飆升或墜落10％。正如他們的名字所暗示的那樣，穩定劑的設計不波動。這是通過創建通常以現金或國庫賬單的儲備來實現的，該儲備會一對一地支持穩定幣。

Stablecoins can serve as a cash equivalent, and are especially popular with traders because they provide a shelter from volatility. They don't require investors to go from crypto to fiat currency. The two largest stablecoins are USDT and USDC, which have market capitalizations of about $143 billion and $60 billion, respectively.

Stablecoins可以用作現金同等產品，並且在交易者中特別受歡迎，因為它們可以避免波動。他們不需要投資者從加密貨幣轉變為法定貨幣。兩個最大的穩定股份是USDT和USDC，它們的市值分別為1430億美元和600億美元。

Why would the Trump family launch its own stablecoin?

特朗普家族為什麼要發起自己的穩定幣？

Stablecoins are big business. Tether, the company behind USDT, reported that it had netted $13 billion in 2024 in an unaudited financial statement. And Circle, the company behind USDC, is reportedly planning to go public.

穩定幣是大生意。 USDT背後的公司Tether報告說，該公司在一份未經審計的財務報表中在2024年淨獲得了130億美元。據報導，USDC背後的公司Circle計劃公開公開。

Tether and Circle back their stablecoins, pegged to the U.S. dollar, with treasuries, or tranches of U.S. debt. While holders of stablecoins don’t receive interest, stablecoin issuers can pocket sometimes 5% off of their treasuries, which accrue yield.

繫繩和圈養他們的穩定幣，與美元或美國債務司機掛鉤。儘管穩定幣的持有人沒有獲得利息，但穩定的發行人有時可以享受5％的庫存，這會產生收益。

It’s easy money. Tether bagged its billions in profit with only about 100 employees as of August. By comparison, Cisco (W Cisco -0.8%), the telecom giant, needed 90,000 employees to net $12.6 billion.

這是簡單的錢。截至8月，Tether將其數十億美元的利潤行駛，僅約100名員工。相比之下，電信巨頭思科（W Cisco -0.8％）需要90,000名員工才能淨126億美元。

What is World Liberty Financial?

什麼是世界自由財務？

Announced in August, World Liberty Financial is one of Trump’s crypto products, which also include NFTs and a memecoin. The project is focused on DeFi, or decentralized finance. DeFi applications aim to replicate the businesses of banks—lending and borrowing—but on blockchains.

World Liberty Financial於8月宣布，是特朗普的加密產品之一，其中還包括NFTS和A Memecoin。該項目的重點是Defi或分散的財務。 DEFI應用程序旨在復制銀行的業務（貸款和借貸），但在區塊鏈上。

World Liberty Financial’s product plans are vague. It hasn't launched yet, and its website has few details on what its platform does. The project's “gold paper" says it intends to be a hub where users can access a suite of DeFi applications, like decentralized lenders or decentralized crypto exchanges. Trump is listed as “Chief Crypto Advocate".

世界自由金融的產品計劃含糊不清。它尚未啟動，其網站幾乎沒有有關其平台的詳細信息。該項目的“黃金紙”表示，它打算是一個樞紐，用戶可以在其中訪問一套Defi應用程序，例如去中心化的貸方或分散的加密交易所。特朗普被列為“首席加密辯護人”。

What has World Liberty Financial done so far?

到目前為止，世界自由財務狀況如何？

World Liberty Financial’s product is still under wraps, but it has allowed people to buy its own cryptocurrency: $WLFI. The token allows users to vote on certain proposals that govern the yet-be-launched DeFi platform, according to the gold paper.

World Liberty Financial的產品仍在包裹中，但它允許人們購買自己的加密貨幣：$ WLFI。據《黃金報》報導，該令牌允許用戶對某些管理尚未啟動的Defi平台的建議進行投票。

Investors have flooded into the Trump family’s cryptocurrency. On Tuesday, the project announced that it had raised $550 million in token sales.

投資者淹沒了特朗普家族的加密貨幣。週二，該項目宣布已籌集了5.5億美元的代幣銷售。

Ethics experts have raised alarm about the cryptocurrency’s potential for influence peddling. As an example, some critics pointed to Justin Sun, the target of litigation from the Securities and Exchange Commission, and his public purchase of $75 million worth of WLFI.

道德專家對加密貨幣的影響力潛力引起了警告。例如，一些批評家指出了證券交易委員會訴訟的目標賈斯汀·孫（Justin Sun），以及他公開購買了價值7500萬美元的WLFI。

Sun's firm, Tron, backs the stablecoin USDD, and it wasn't immediately clear if he planned to use the Trump family's stablecoin for trading.

Sun的公司Tron支持了Stablecoin USDD，目前尚不清楚他是否計劃使用特朗普家族的Stablecoin進行交易。

"It beggars belief that anyone could think that this is a good idea," said Lawrence Douglas, a legal ethics expert at the University of Baltimore. "It's not clear what value proposition these tokens offer other than an opportunity for speculation."

巴爾的摩大學法律倫理專家勞倫斯·道格拉斯（Lawrence Douglas）說：“乞g信念，任何人都可以認為這是一個好主意。” “目前尚不清楚這些代幣提供了什麼價值主張，而不是猜測的機會。”

Who’s involved in World Liberty Financial?

誰參與世界自由財務？

The roster of participants in the project is a mix of Trump family members, loyalists and crypto developers. The president's sons—Barron, Eric, and Donald Jr.—are World Liberty Financial’s “Web3 Ambassadors.” Steve Witkoff, a Trump loyalist and real estate magnate, as well as his two sons, Alex and Zach are listed as cofounders.

該項目的參與者的名冊是特朗普家庭成員，忠誠主義者和加密開發商的混合。總統的兒子 - 巴倫，埃里克和小唐納德。特朗普的忠誠主義者和房地產巨頭史蒂夫·威特科夫（Steve Witkoff）以及他的兩個兒子亞歷克斯（Alex）和扎克（Zach）被列為聯合創始人。

And two DeFi developers, Zak Folkman and Chase Herro, are also listed as cofounders. The pair were behind the crypto project Dough Finance, which suffered a $2 million hack in July.

還有兩個Defi開發人員Zak Folkman和Chase Herro也被列為聯合創始人。兩人是加密項目麵團融資的背後，該金融在7月份遭受了200萬美元的黑客攻擊。

This story was originally featured on Fortune.com

這個故事最初是在fortune.com上出現的