川普的迷因硬幣引發道德和地緣政治擔憂

當唐納德·川普 (Donald Trump) 在 11 月贏得總統職位時，許多加密貨幣狂熱分子慶祝了他對行業的承諾，即他將優先考慮放鬆管制並使加密貨幣企業家合法化

After Donald Trump won the presidency in November, many crypto fanatics celebrated, given his promises to the industry that he would prioritize deregulation and legitimize crypto entrepreneurs. Days before his inauguration, industry heavyweights gathered in Washington for the Crypto Ball, celebrating their newly minted status as D.C. insiders.

唐納德·川普 (Donald Trump) 於 11 月贏得總統職位後，許多加密貨幣狂熱分子紛紛慶祝，因為他向行業承諾，他將優先考慮放鬆管制並使加密貨幣企業家合法化。在他就職前幾天，行業重量級人物齊聚華盛頓參加加密貨幣舞會，慶祝他們作為華盛頓內部人士的新地位。

But during the event, Trump shocked nearly the entire room by posting online about the launch of a new cryptocurrency called TRUMP. This new currency, a so-called meme coin, has no inherent value, but rather fluctuates in price as people buy and sell the coin. Trump’s fans and opportunistic day traders have generated billions of dollars in sales, driven by loyalty, hype, and the chance to make a quick buck. All of these trades have made the coin’s creators—affiliate companies of the Trump organization—billions of dollars on paper. A day after its release, Melania Trump announced her own meme coin, which also rose and fell in crazed spurts. On Wednesday, TRUMP was the 25th most valuable cryptocurrency in the world, according to CoinMarketCap—although its price of about $43 was well off its $75 high.

但在活動期間，川普在網路上發布了有關推出一種名為「川普」的新加密貨幣的消息，震驚了幾乎整個房間。這種新貨幣，即所謂的迷因幣，沒有內在價值，而是隨著人們買賣該幣而價格波動。在忠誠度、炒作和快速賺錢機會的推動下，川普的粉絲和機會主義短線交易者創造了數十億美元的銷售額。所有這些交易使該貨幣的創造者（川普組織的附屬公司）在紙面上賺了數十億美元。發布一天后，梅拉尼婭·川普宣布了她自己的迷因幣，該幣也瘋狂上漲和下跌。根據 CoinMarketCap 的數據，週三，川普在全球最有價值的加密貨幣中排名第 25 位，儘管其價格約為 43 美元，遠低於 75 美元的高點。

Read More: What Trump’s Win Means for Crypto.

閱讀更多：川普的勝利對加密貨幣意味著什麼。

Trump’s meme coins brought a surge of attention to crypto and many newcomers into the space. To some, the coins signaled Trump’s commitment to crypto and to spurring its growth. But many more in the crypto world responded with revulsion to what they saw as a cash grab, and a way for Trump to directly profit off of his followers. Trump’s team holds at least 80% of the coin’s supply, giving them vast power to control its price. While they are not allowed to sell off their holdings for months, doing so would crash the market and leave regular users with a loss.

川普的迷因硬幣引起了人們對加密貨幣的關注，並吸引了許多新來者進入該領域。對某些人來說，這些硬幣標誌著川普對加密貨幣並刺激其成長的承諾。但加密世界中的更多人對此表示厭惡，他們認為這是一種搶錢行為，也是川普直接從追隨者身上獲利的一種方式。川普的團隊持有至少 80% 的代幣供應量，這讓他們擁有控制其價格的巨大權力。雖然他們在幾個月內不得出售所持股份，但這樣做會導致市場崩潰，並使普通用戶蒙受損失。

Crypto insiders worry that the coins will make the public even leerier of an industry already filled with scams and bad-faith actors. “The crypto sector put someone in power whose first act is to emphasize and take advantage of the opportunity for grift within crypto,” says Angela Walch, a crypto researcher and writer. “And that's just embarrassing.”

加密貨幣內部人士擔心，這些代幣會讓大眾對這個已經充滿騙局和不懷好意的行為者的行業更加警惕。加密貨幣研究員兼作家安吉拉·瓦爾奇 (Angela Walch) 表示：“加密貨幣行業讓某人掌權，他的第一個行動就是強調並利用加密貨幣內部的欺詐機會。” “這真是令人尷尬。”

Trump has downplayed his role in launching the coin, saying at a Jan. 21 press conference: “I don’t know much about it other than I launched it.” The Trump Organization did not immediately respond to a request for comment. A White House press officer declined to comment.

川普淡化了他在發行該代幣中所扮演的角色，他在 1 月 21 日的新聞發布會上表示：“除了我發行了它之外，我對它了解不多。”川普集團沒有立即回應置評請求。白宮新聞官員拒絕置評。

But elected officials and legal experts are raising ethical and geopolitical concerns about the tokens, which they say could serve as a vehicle for bribery and conflicts of interest. “These coins open a channel for him to receive financial benefits from foreign adversaries and to prioritize his personal interests, to the collective detriment of Americans,” says Puja Ohlhaver, a lawyer affiliated with Harvard’s Allen Lab for Democracy Renovation.

但民選官員和法律專家對這些代幣提出了道德和地緣政治的擔憂，他們表示這些代幣可能成為賄賂和利益衝突的工具。哈佛大學艾倫民主革新實驗室的律師普賈·奧爾哈弗(Puja Ohlhaver) 表示：「這些硬幣為他從外國對手那裡獲取經濟利益並優先考慮個人利益開闢了渠道，從而損害了美國人的集體利益。

What are meme coins?

什麼是模因幣？

TRUMP and MELANIA are meme coins: cryptocurrencies that are essentially created by entrepreneurs out of thin air by writing code to deploy on a blockchain. Their worth comes from how much people believe in them and buy them. In order to generate excitement, the teams behind such coins often market them using popular memes which can be shared and iterated upon on social media. If memes on social media can propel culture, creativity, and even ideology, the thinking goes, then why shouldn’t they be worth something financially as well?

TRUMP 和 MELANIA 是迷因幣：本質上是由創業家透過編寫部署在區塊鏈上的程式碼憑空創建的加密貨幣。它們的價值來自於人們對它們的信任程度和購買程度。為了引起興奮，這些代幣背後的團隊經常使用流行的迷因來行銷它們，這些迷因可以在社交媒體上分享和迭代。如果社群媒體上的迷因可以推動文化、創造力甚至意識形態，那麼為什麼它們不應該在經濟上也有價值呢？

Dogecoin and Shiba Inu are two examples, with Dogecoin particularly propelled by Elon Musk, whose tweets about the coin have led to price spikes. The lack of inherent value makes meme coins especially volatile and speculative, which, to some, is part of their appeal: If investors buy at the right time, they can make a lot of money. Conversely, they can lose everything extremely fast if they buy in at the market’s top. Meme coins have also been the vehicle for alleged scams, in which investors lost significant sums.

狗狗幣和柴犬就是兩個例子，其中狗狗幣尤其受到馬斯克的推動，他關於狗狗幣的推文導致了價格飆升。缺乏內在價值使得迷因幣特別不穩定且具有投機性，這對某些人來說是其吸引力的一部分：如果投資者在正確的時間購買，他們可以賺很多錢。相反，如果他們在市場頂部買入，他們可能很快就會失去一切。 Meme 幣也成為涉嫌詐騙的工具，導致投資者損失慘重。

Trump’s admirers have often wielded  memes as a marketing tool. During his presidential campaign, a team of content creators flooded social media with pro-Trump meme content. Last summer, unofficial Trump meme coins with names like Pepe (TRUMP) and Maga People Token (PEOPLE) rose and fell, with some bettors treating them as proxies for his chances of victory.

川普的崇拜者經常利用表情包作為行銷工具。在他的總統競選期間，一群內容創作者在社群媒體上充斥著支持川普的表情包內容。去年夏天，名為 Pepe (TRUMP) 和 Maga People Token (PEOPLE) 等非官方川普迷因幣的漲跌，一些投注者將它們視為他獲勝機會的代表。

Trump also has a history of using crypto to make money. He started selling NFT trading cards in 2022, and has made millions from them, according to financial disclosure documents. In September, he launched World Liberty Financial, a cryptocurrency platform which is not yet live. And in 2025, meme coins are perhaps the easiest way for aspiring crypto entrepreneurs to make money, fast.

川普也有使用加密貨幣賺錢的歷史。根據財務披露文件，他於 2022 年開始銷售 NFT 交易卡，並從中賺取了數百萬美元。 9 月，他推出了 World Liberty Financial，這是一個尚未上線的加密貨幣平台。到 2025 年，模因幣可能是有抱負的加密貨幣企業家快速賺錢的最簡單方法。

TRUMP starts trading

川普開始交易

On Jan. 18, two days before taking the oath of office, Trump launched his token via CIC Digital LLC, an affiliate of the Trump Organization, while the Crypto Ball was in full swing. The move took the industry by surprise. Nick O’

1 月 18 日，即宣誓就職前兩天，川普透過川普集團的附屬公司 CIC Digital LLC 推出了他的代幣，而加密球活動正如火如荼地進行。此舉令業界感到意外。尼克·奧