川普推出 Solana Memecoin，但它合法嗎？

週五深夜，這項消息先在Truth Social上發布，不久後又在川普的X帳號上發布。一些傳言稱他在加密貨幣盛會上證實了這一點。

Donald Trump’s social media accounts announced the launch of a new Solana-based memecoin called $TRUMP on Friday night. Within minutes of the announcement, the cryptocurrency began trading in the hundreds of millions of dollars.

唐納德·川普的社交媒體帳戶於週五晚上宣布推出一種基於 Solana 的新模因幣，名為 $TRUMP。消息公佈後幾分鐘內，加密貨幣的交易量就開始達到數億美元。

The announcement was first shared on Truth Social and shortly after on Trump’s X (formerly Twitter) account. Both posts featured identical language promoting $TRUMP, alongside a link to a website that resembles those used for Trump’s past NFT collections.

該消息首先在 Truth Social 上發布，不久後又在川普的 X（以前的 Twitter）帳號上發布。這兩篇帖子都使用了相同的語言來宣傳 $TRUMP，並附有一個網站鏈接，該網站類似於特朗普過去的 NFT 收藏所使用的網站。

“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW,” the posts read.

「我的新官方川普表情包就在這裡！是時候慶祝我們所代表的一切了：勝利！加入我非常特別的川普社群。現在就得到你的川普吧，」貼文寫道。

The coin’s website credits CIC Digital, the same official licensee behind Trump’s NFT collections from 2022 and 2023. The infrastructure and deployment of the site also align with Trump’s earlier ventures, leading some to conclude that it’s legitimate.

該幣的網站歸功於CIC Digital，它是川普2022 年和2023 年NFT 系列背後的官方被許可人。出結論認為它是合法的。

The memecoin immediately gained traction. As of now, $TRUMP is trading at $8.32 with a self-reported market cap of $6.7 billion. However, 80% of the tokens are locked and will gradually unlock over the next three years, making the circulating supply—and its true market cap—much smaller.

模因幣立即受到關注。截至目前，$TRUMP 的交易價格為 8.32 美元，自我報告市值為 67 億美元。然而，80% 的代幣被鎖定，並將在未來三年內逐步解鎖，使得流通供應及其真實市值要小得多。

Blockchain tracking sites show that the coin has generated roughly $680 million in trading volume in its first hours of existence, placing it among the most actively traded new cryptocurrencies.

區塊鏈追蹤網站顯示，該代幣在誕生的最初幾個小時內就產生了約 6.8 億美元的交易量，使其成為交易最活躍的新加密貨幣之一。

The Case for $TRUMP Being Legitimate

$TRUMP 合法化的理由

If this is a sanctioned Trump project, it would align with his recent pro-crypto stance. Trump has previously dipped his toes into Web3 with multiple NFT collections, and he’s publicly endorsed World Liberty Financial, a decentralized finance platform.

如果這是川普批准的項目，那麼它將符合他最近支持加密貨幣的立場。川普先前曾透過多個 NFT 集合涉足 Web3，並公開支持去中心化金融平台 World Liberty Financial。

Observers have pointed out that the $TRUMP website is remarkably similar to Trump’s NFT sites, down to the hosting provider, Heroku. This consistency has led blockchain experts like the pseudonymous engineer cygaar to suggest that the same team likely deployed both projects.

觀察家指出，$TRUMP 網站與川普的 NFT 網站非常相似，甚至包括託管提供者 Heroku。這種一致性使得匿名工程師 cygaar 等區塊鏈專家認為，這兩個專案可能是由同一個團隊部署的。

Additionally, the posts on X and Truth Social have remained live for over 12 hours, with no follow-up indicating a hack or disavowal from Trump’s team.

此外，X 和 Truth Social 上的貼文已持續存在超過 12 小時，沒有後續跡象表明川普團隊遭到駭客攻擊或否認。

Trump’s presidency has also leaned heavily into memes and online engagement, so launching an official memecoin as a cultural and financial rallying point wouldn’t be entirely out of character.

川普的總統任期也嚴重依賴迷因和線上參與，因此推出官方迷因幣作為文化和金融的集結點也並非完全不符合川普的性格。

Further, he’s close with Elon Musk, who owns X. If it were a hack, he’s got direct access to the owner of the platform– which is more than the 99.99% of people who have had their X profile hacked.

此外，他與擁有 X 的馬斯克關係密切。

The Case for Skepticism: Is Trump’s Memecoin a Scam?

懷疑論的理由：川普的 Memecoin 是個騙局嗎？

Despite the evidence pointing to legitimacy, there are reasons to remain cautious.

儘管有證據表明其合法性，但仍有理由保持謹慎。

First, the coin’s funding origins have raised eyebrows. On-chain sleuths discovered that the project was seeded with millions of dollars from wallets linked to Binance and Gate.io, exchanges that do not cater to U.S. customers. For a project tied to a U.S. president, this is an unusual choice—and potentially problematic from a regulatory perspective.

首先，該代幣的資金來源引起了人們的關注。鏈上偵探發現，該項目從與 Binance 和 Gate.io 相關的錢包中註入了數百萬美元，而這些交易所並不迎合美國客戶的需求。對於一個與美國總統相關的項目來說，這是一個不尋常的選擇，而且從監管角度來看可能存在問題。

Second, Trump’s high-profile status makes his accounts a prime target for hackers. One red flag is that the top ten holders have 86% of the coin, and the contract ownership is not renounced.

其次，川普的高調地位使他的帳戶成為駭客的首要目標。一個危險信號是前十大持有者擁有 86% 的代幣，合約所有權並未放棄。

The crypto industry has seen countless examples of high-profile figures’ accounts being compromised to promote pump-and-dump scams. In most cases, the hacked posts are quickly deleted, but the extended time these posts have remained live complicates the picture.

加密貨幣行業已經見證了無數知名人士的帳戶被洩露以促進拉高拋售騙局的例子。在大多數情況下，被駭的貼文很快就會被刪除，但這些貼文持續存在的時間延長了，情況變得更加複雜。

Lastly, while the coin is trading actively, many memecoins experience sharp rises followed by equally sharp declines as liquidity dries up or early adopters sell off their holdings. Whether $TRUMP holds its value or proves to be a speculative bubble remains to be seen.

最後，雖然該代幣交易活躍，但隨著流動性枯竭或早期採用者出售其持有的資產，許多模因幣經歷了急劇上漲，然後同樣急劇下跌。川普美元是否能保值或被證明是投機泡沫仍有待觀察。

So, What if $TRUMP is Real?

那麼，如果 $TRUMP 是真的怎麼辦？

If $TRUMP is legitimate, it could signal a major shift in Trump’s approach to cryptocurrency, and a conversation would need to be had about the role of memecoins here on out.

如果 $TRUMP 是合法的，它可能標誌著川普對加密貨幣的態度發生重大轉變，並且需要就迷因幣的作用進行對話。

As a sitting president, his endorsement of a memecoin would elevate the conversation around crypto to the highest levels of global politics– and likely not in a good way.

作為現任總統，他對迷因幣的認可將把圍繞加密貨幣的對話提升到全球政治的最高水平——而且可能不是一個好的方式。

A Trump-backed memecoin would also present opportunities and risks for the U.S. crypto market. On one hand, it could rally his supporters around blockchain technology, potentially boosting adoption. On the other, it raises questions about the regulatory implications of a president directly promoting a cryptocurrency.

川普支持的迷因幣也將為美國加密市場帶來機會和風險。一方面，它可以將他的支持者聚集在區塊鏈技術周圍，從而有可能促進區塊鏈技術的採用。另一方面，它引發了有關總統直接推廣加密貨幣的監管影響的問題。

What It Means If $TRUMP is a Scam

如果 $TRUMP 是騙局意味著什麼

If Trump’s accounts were hacked, this could go down as one of the most sophisticated scams in crypto history. The resemblance to Trump’s past NFT projects, combined with the coin’s rapid adoption, suggests that the attackers put significant effort into making the project appear authentic.

如果川普的帳號被駭客入侵，這可能會成為加密貨幣歷史上最複雜的騙局之一。與川普過去的 NFT 項目相似，再加上該幣的快速採用，表明攻擊者付出了巨大的努力，讓該項目顯得真實。

A scam of this

一個這樣的騙局