川普幣和 Memecoins 是加里·詹斯勒 (Gary Gensler) 的遺產

也許川普幣的推出最有趣的方面是它的時機和背景。加里·詹斯勒 (Gary Gensler) 經過多年積極的加密貨幣執法後退出了 SEC，即將上任的總統推出了一款模因幣。這並非巧合。

Donald Trump has launched a meme coin called "Trump Coin," which has quickly reached a market capitalization of $4.8 billion within 24 hours. The coin is trading at $25 with a fully diluted valuation of $24.3 billion.

唐納德·川普推出了一款名為「川普幣」的迷因幣，該幣的市值在 24 小時內迅速達到 48 億美元。該代幣的交易價格為 25 美元，完全攤薄後的估值為 243 億美元。

The president's entry into the cryptocurrency space comes as Gary Gensler is set to leave the SEC after years of aggressive cryptocurrency regulation. This move has sparked speculation about the role Trump Coin might play in shaping future discussions on cryptocurrency regulation, political branding, and the function of meme assets in the financial ecosystem.

在總統進入加密貨幣領域之際，加里·詹斯勒(Gary Gensler)在經歷了多年嚴格的加密貨幣監管後即將離開美國證券交易委員會。此舉引發了人們對川普幣在塑造未來有關加密貨幣監管、政治品牌以及金融生態系統中模因資產功能的討論方面可能發揮的作用的猜測。

Trump Coin's existence highlights a curious dynamic in crypto regulation. Gensler's strict interpretation of securities laws, applied to cryptocurrencies, may have inadvertently steered cryptocurrency innovation toward meme coins rather than utility tokens.

川普幣的存在凸顯了加密貨幣監管中一種奇怪的動態。 Gensler 對適用於加密貨幣的證券法的嚴格解釋可能無意中將加密貨幣創新引向了迷因幣而不是實用代幣。

While projects like Libra (later Diem) and LBRY spent millions trying to launch a legal cryptocurrency, meme coins like Dogecoin, Shiba Inu, and now Trump Coin have thrived by explicitly avoiding the claim of being anything other than a speculative asset with no promise of profit sharing or utility.

雖然像Libra（後來的Diem）和LBRY 這樣的項目花費了數百萬美元試圖推出一種合法的加密貨幣，但像狗狗幣、柴犬和現在的特朗普幣這樣的模因幣卻通過明確避免聲稱自己是投機資產之外的任何東西而蓬勃發展，並且沒有任何承諾。

The more absurdly a token positions itself as a meme with no serious utility, the safer it becomes from being classified as a security. This perverse incentive has contributed to the proliferation of meme coins, which now account for a substantial portion of the cryptocurrency market cap.

代幣將自己定位為沒有任何實際用途的迷因越荒謬，它就越不會被歸類為證券。這種不正當的激勵措施導致了迷因幣的激增，這些幣現在佔據了加密貨幣市值的很大一部分。

Trump Coin's launch also raises ethical questions due to the intersection of political power and speculative assets. Unlike traditional Trump-branded ventures, cryptocurrency's pseudonymous nature allows anyone worldwide to invest without identity checks, potentially creating concerns about undue influence on a sitting president. These concerns mirror but may amplify similar issues raised around Trump's other business interests, such as Trump Media and Technology Group's Truth Social platform.

由於政治權力與投機資產的交叉，川普幣的推出也引發了道德問題。與傳統的川普品牌企業不同，加密貨幣的匿名性質允許世界各地的任何人在沒有身份檢查的情況下進行投資，這可能會引發對現任總統不當影響的擔憂。這些擔憂反映了但可能放大圍繞川普其他商業利益引發的類似問題，例如川普媒體和科技集團的真相社交平台。