川普就職引發加密繁榮和市場動盪，美元在政策不確定性中走軟

唐納德·川普總統的就職不僅標誌著他重返白宮，也標誌著川普家族的加密貨幣代幣激增

Freshly minted cryptocurrency tokens from the Trump family soared in value on Monday, riding a wave of broader enthusiasm in crypto markets and strong investor interest in the digital assets.

川普家族新鑄造的加密貨幣代幣週一價值飆升，帶動了加密貨幣市場更廣泛的熱情和投資者對數位資產的濃厚興趣。

The tokens, branded as $Trump and $Melania, debuted over the weekend and quickly surpassed $10 billion in paper value. This surge coincided with Bitcoin reaching an all-time high of over $109,000 on Monday. The trading platform Robinhood, which also contributed to Mr. Trump’s inauguration fund, further boosted the tokens’ visibility by adding $Trump to its platform on Monday.

這些代幣名為“$Trump”和“$Melania”，於週末首次推出，紙面價值迅速超過 100 億美元。此次飆升恰逢比特幣週一觸及 109,000 美元以上的歷史新高。交易平台 Robinhood 也為川普的就職基金提供了捐款，該平台週一將 $Trump 添加到其平台，進一步提高了代幣的知名度。

Memecoins like $Trump are typically linked to online culture or celebrity personas, and their availability on major trading platforms is rare. Trump affiliates control the majority of the tokens, which will be released gradually over the coming years.

像 $Trump 這樣的迷因幣通常與網路文化或名人形象相關，並且它們在主要交易平台上的可用性很少。川普的附屬機構控制著大部分代幣，這些代幣將在未來幾年逐步釋放。

Before the token launch, Forbes estimated Mr. Trump’s net worth at $6.7 billion, largely stemming from his ownership of Trump Media and Technology Group, the parent company of Truth Social. Now, as Mr. Trump assumes the presidency, the rapid rise in token value has raised potential concerns about new conflicts of interest.

在代幣發行之前，《富比士》估計川普先生的淨資產為 67 億美元，主要來自他對 Truth Social 母公司川普媒體和科技集團的所有權。現在，隨著川普就任總統，代幣價值的快速上漲引發了對新利益衝突的潛在擔憂。

Ethics watchdogs highlight the possibility of businesses and traders using these tokens to gain influence with the administration. Mr. Trump, a former crypto skeptic, has recently embraced the digital asset industry. He pledged to establish the United States as a global hub for cryptocurrency, a vision realized partly through World Liberty Financial, a crypto-focused venture he co-founded with his sons. Additionally, several advocates for lighter crypto regulation were appointed to key roles in his administration.

道德監管機構強調企業和交易者使用這些代幣來獲得對政府影響力的可能性。川普先生曾是加密貨幣懷疑論者，最近開始擁抱數位資產產業。他承諾將美國打造成全球加密貨幣中心，這一願景部分透過他與兒子們共同創立的專注於加密貨幣的企業 World Liberty Financial 實現。此外，幾位主張放鬆加密貨幣監管的倡導者被任命在他的政府中擔任關鍵職位。

Crypto markets have rallied significantly since Mr. Trump’s electoral victory, with Bitcoin leading the charge. The interplay between the administration’s crypto-friendly stance and the broader market enthusiasm continues to draw global attention.

自川普贏得選舉以來，加密貨幣市場大幅上漲，其中比特幣領漲。政府對加密貨幣友善的立場與更廣泛的市場熱情之間的相互作用繼續引起全球關注。

Trump’s Inauguration Sparks Crypto Boom and Market Turbulence, Dollar Weakens Amid Policy Uncertainty

川普就職引發加密繁榮和市場動盪，美元在政策不確定性中走弱

President Donald Trump's inauguration not only marked his return to the White House but also saw the surge of the Trump family's cryptocurrency tokens and a sharp decline in the U.S. dollar, as investors reacted to the administration's trade policy statements and varying signals on tariffs.

唐納德·川普總統的就職不僅標誌著他重返白宮，而且隨著投資者對政府的貿易政策聲明和不同的關稅信號做出反應，川普家族的加密貨幣代幣飆升，美元急劇下跌。

Trump's Cryptocurrency Windfall

川普的加密貨幣意外之財

Launched over the weekend, the $Trump and $Melania tokens reached a combined paper value of over $10 billion as trading platforms like Robinhood began offering the tokens. This surge coincided with Bitcoin hitting a record $109,000, fueling broader enthusiasm in the crypto market. However, ethics experts raised concerns about potential conflicts of interest as Mr. Trump begins his term with substantial holdings in digital assets.

隨著 Robinhood 等交易平台開始提供代幣，週末推出的 $Trump 和 $Melania 代幣的紙面價值總計超過 100 億美元。這次飆升恰逢比特幣觸及創紀錄的 109,000 美元，激發了加密貨幣市場更廣泛的熱情。然而，隨著川普在任期開始時大量持有數位資產，道德專家對潛在的利益衝突表示擔憂。

Mr. Trump's pivot to cryptocurrency reflects his evolving stance. Once a skeptic, he now champions the sector, pledging to make the U.S. a global leader in crypto innovation. His administration has also appointed crypto-friendly advisors and floated ideas for regulatory reform, which could further galvanize the sector.

川普轉向加密貨幣反映了他不斷變化的立場。他曾經是個懷疑論者，現在卻是該產業的擁護者，承諾使美國成為加密貨幣創新的全球領導者。他的政府還任命了對加密貨幣友好的顧問，並提出了監管改革的想法，這可能會進一步刺激該行業。

Dollar Takes a Hit on Trade Policy Ambiguity

美元因貿易政策模糊而受到打擊

Meanwhile, the dollar index dropped nearly 1%, with the euro, sterling, and Mexican peso gaining ground. Investors reacted to Mr. Trump's inaugural promise to “tariff and tax foreign countries to enrich our citizens” but noted the lack of immediate action. Analysts like James Nelligan from JPMorgan suggested that the absence of swift tariff implementation was a “short-term disappointment” for the dollar.

同時，美元指數下跌近1%，歐元、英鎊和墨西哥比索上漲。投資者對川普首次承諾「對外國徵收關稅和徵稅以使我們的公民致富」做出了反應，但注意到川普沒有立即採取行動。摩根大通的詹姆斯·內利根(James Nelligan)等分析師表示，關稅未能迅速實施對美元來說是「短期失望」。

Despite the decline, some experts believe that more aggressive trade measures could be introduced after federal reviews of key relationships with countries like China, Canada, and Mexico. Markets had already been anticipating inflationary pressures from potential tariffs, which could influence Federal Reserve interest rate decisions in the months ahead.

儘管下降，一些專家認為，在聯邦審查與中國、加拿大和墨西哥等國家的重要關係後，可能會採取更積極的貿易措施。市場已經預計潛在關稅將帶來通膨壓力，這可能會影響聯準會未來幾個月的利率決策。

Broader Market Impacts

更廣泛的市場影響

Oil prices declined after Mr. Trump declared an “energy emergency,” proposing to open federal land for oil exploration. Brent crude fell 0.9% to $80.03 per barrel, while WTI dropped 1.7% to $76.58 per barrel. In contrast, European equity markets closed slightly higher, with London's FTSE 100 reaching a record high, buoyed by optimism about global economic prospects.

在川普宣布「能源緊急狀態」並提議開放聯邦土地進行石油勘探後，油價下跌。布蘭特原油下跌 0.9%，至每桶 80.03 美元，WTI 原油下跌 1.7%，至每桶 76.58 美元。相較之下，歐洲股市小幅收高，倫敦富時 100 指數在全球經濟前景樂觀的推動下創下歷史新高。

Currency market volatility is expected to persist as the administration's trade policies and crypto initiatives unfold. Chris Turner of ING remarked, “The one thing the [currency] market had expected was more volatility. And we’re certainly seeing that.”

隨著政府貿易政策和加密貨幣舉措的展開，貨幣市場波動預計將持續存在。荷蘭國際集團 (ING) 的 Chris Turner 表示：「[貨幣]市場所預期的一件事是波動性更大。我們確實看到了這一點。

As Mr. Trump begins his presidency, the interplay of crypto market dynamics, trade policy, and broader economic strategies will continue to shape global markets, presenting both opportunities and challenges for investors.

隨著川普先生就任總統，加密貨幣市場動態、貿易政策和更廣泛的經濟策略的相互作用將繼續塑造全球市場，為投資者帶來機會和挑戰。