唐纳德·特朗普总统宣布特朗普加密保护区，包括XRP，Solana（Sol）和Cardano（ADA）

华盛顿特区 - 1月23日：美国总统唐纳德·特朗普（Donald Trump）的AI和Crypto沙皇戴维·萨克斯（David Sacks）聆听……[+]特朗普总统签署了许多执行命令。

President Donald Trump’s recent announcement regarding the Trump Crypto Reserve, which includes XRP, Solana (SOL), and Cardano (ADA), has ignited a significant wave of discussion, speculation, and debate.

唐纳德·特朗普（Donald Trump）总统最近就包括XRP，Solana（Sol）和Cardano（ADA）在内的特朗普加密保护区（Trump Crypto Reserve）宣布，引发了一大批讨论，推测和辩论。

This follows up on a previous post, just minutes ago, which stated that President Trump’s administration is planning to add bitcoin and ethereum to the U.S. crypto reserve.

就在几分钟前的上一篇文章中，这是对特朗普总统政府计划在美国加密储备中增加比特币和以太坊的一篇文章。

Of the three tokens mentioned by Trump, XRP is the most well-known, often touted for its liquidity and wide adoption among retail traders. It’s also the only token on the list that is not a Layer-1 blockchain, instead serving as a bridge between different networks.

在特朗普提到的三个令牌中，XRP是最著名的，通常因其流动性和在零售商人中广泛收养而受到吹捧。它也是列表中唯一不是第1层区块链的令牌，而是用作不同网络之间的桥梁。

Solana, known for its high throughput and low transaction fees, has seen increased adoption in the DeFi and NFT sectors. However, Solana’s network has suffered several outages in recent years, raising concerns among those seeking a truly decentralized and secure monetary network.

以高通量和低交易费用而闻名的索拉纳（Solana）在Defi和NFT领域的采用增加了。但是，近年来，索拉纳（Solana）的网络遭受了数次停电，这引起了寻求真正分散和安全的货币网络的人们的担忧。

Cardano, on the other hand, prides itself on its academic foundation and peer-reviewed codebase. Cardano’s ADA token is the native currency of the Cardano blockchain, and it’s used for paying transaction fees and securing the network through Proof-of-Stake.

另一方面，Cardano以其学术基金会和同行评审的代码库感到自豪。 Cardano的ADA令牌是Cardano区块链的原始货币，它用于支付交易费用并通过销售证明来确保网络。

Bitcoin, uniquely distinguished by its liquidity, security, and true decentralization, is notably absent from this initial list.

比特币独特地以其流动性，安全性和真实的权力下放为特色，在此初始列表中显然不存在。

This oversight is puzzling, especially in light of Trump’s previous public statements and commitments to including bitcoin in any U.S. digital asset holdings.

这种监督令人困惑，尤其是鉴于特朗普以前的公开声明和对在美国任何数字资产持有量中都包括比特币的承诺。

The president’s crypto policy advisors—Sacks, who is also in charge of AI policy, and Executive Director Bo Hines—have shown limited knowledge, if not outright confusion, regarding digital asset technology.

总统的加密政策顾问（也负责AI政策）和执行董事Bo Hines的行为顾问对数字资产技术的知识有限，即使不是完全混乱，也表现出有限的知识。

This is evident in the poorly timed launch of $TRUMP and $MELANIA coins before the inauguration, an attempt to quickly capitalize on the president’s name in the hopes of attracting attention to the administration’s broader agenda.

这在就职典礼之前定时推出$ trump和$ Melania硬币的时间很明显，这是试图快速利用总统的名字，以期引起人们对政府更广泛的议程的关注。

However, there exists a clear disconnect between the White House’s assertions and the real-world implications. As Sacks continues to manage “crypto” policy, it opens the door to errors that may hinder bitcoin’s progress and mislead consumers.

但是，白宫的断言与现实世界的含义之间存在明显的脱节。随着麻袋继续管理“加密”政策，它为可能阻碍比特币进展并误导消费者的错误打开了大门。

The various scandals and mishaps that have impacted the broader digital asset landscape will likely carry over to negatively affect the public’s perception of bitcoin.

影响更广泛的数字资产格局的各种丑闻和事故可能会对公众对比特币的看法产生负面影响。

Essentially, there is a tangible risk that the White House’s renewed focus on “crypto” could overshadow the far more pertinent narrative surrounding bitcoin.

从本质上讲，白宫对“加密”的重新关注可能掩盖了比特币周围更相关的叙述，这是一个明显的风险。

The Promise and the Problem

承诺和问题

The idea of a national digital asset reserve, even if it includes tokens that lack bitcoin’s fundamental advantages, is not entirely unfounded.

国家数字资产储备的想法，即使它包括缺乏比特币基本优势的代币，但并非完全没有根据。

One could argue that introducing retail investors, institutions, and policymakers to the concept of buying and holding digital assets can ultimately ease the pathway to bitcoin adoption. This obstacle is significant in the U.S., where several politicians still view “cryptocurrency” as a single entity.

有人可能会说，将散户投资者，机构和决策者介绍购买和持有数字资产的概念最终可以减轻采用比特币的途径。在美国，这种障碍很重要，在美国，几位政客仍然将“加密货币”视为一个实体。

However, we have seen positive developments when governments take a well-considered approach, as evidenced by Texas’s ongoing deliberations about potentially establishing its own Strategic Bitcoin Reserve. Eventually, policymakers will recognize that bitcoin’s liquidity far surpasses that of nearly all other digital assets, and a strong state-level treasury featuring bitcoin could emerge as a critical factor in economic resilience.

但是，当政府采取良好思考的方法时，我们已经看到了积极的发展，这是德克萨斯州对潜在建立自己的战略比特币储备的持续审议所证明的。最终，决策者将认识到，比特币的流动性远远超过了几乎所有其他数字资产的流动性，而且具有比特币的强大国家级财政部可能会成为经济弹性的关键因素。

In contrast, Trump’s proposal reflects a considerable lack of discernment.

相比之下，特朗普的提议反映了相当大的辨别力。

By including relatively illiquid tokens with market capitalization substantially lower than that of bitcoin, Sacks’s team introduces a multitude of new challenges. Just last week, bitcoin’s daily trading volume reached tens of billions of dollars.

通过将相对易流动的代币与市值低于比特币的代币，Sacks的团队引入了许多新的挑战。就在上周，比特币的日常交易量达到了数万美元。

In comparison, XRP, SOL, and ADA appeal primarily to hobbyist traders who can instigate significant price fluctuations and liquidity crunches with modest trades. Furthermore, the Solana network has experienced intermittent outages, while XRP is governed by a group of insiders.

相比之下，XRP，SOL和ADA主要呼吁业余商交易员，他们可以通过适度的交易来增加价格波动和流动性脆弱性。此外，Solana网络已经经历了间歇性的中断，而XRP则由一组内部人员约束。

The political repercussions of a failed crypto project could be detrimental, both for the Trump administration and for Americans hoping to benefit from the financial freedom that bitcoin provides.

对于特朗普政府和希望从比特币提供的财务自由中受益的美国人来说，失败的加密项目的政治影响可能是有害的。

Should one or more of these tokens falter after the White House links a portion of the U.S. reserve to them, Trump’s team might face scrutiny over “poor crypto choices” or, worse, the kind of embarrassing scandals that have befallen past administrations due to misguided economic policies.

如果白宫将一部分美国预备役与他们联系起来后，这些代币中的一个或多个都会步履蹒跚，那么特朗普的团队可能会对“糟糕的加密货币选择”面临审查，或者更糟糕的是，由于经济误导的经济政策，这种令人尴尬的丑闻曾被过去的政府造成。

Within the broader digital asset arena, we have observed how failures of tokens can trigger swift regulatory crackdowns, criminal investigations, and a general public disenchantment with blockchain-based technologies.

在更广泛的数字资产领域中，我们观察到令牌的失败如何触发迅速的监管镇压，刑事调查以及对基于区块链的技术的一般公众脱颖而出。

The collapse of Terra in 2022 reverberated globally, and the FTX scandal continues to echo through the corridors of Washington power. Whenever such downfalls occur, politicians scramble for cover, fresh regulations are hastily implemented, and genuine technological advancements risk being drowned out by the surrounding chaos.

2022年，Terra的崩溃在全球范围内回荡，FTX丑闻继续通过华盛顿力量的走廊回荡。每当发生这种倒台时，政客争先恐后地掩盖了新的法规，而真正的技术进步可能会被周围的混乱淹没。

This highlights a significant issue: confusion within the marketplace. When a sitting president suggests that all “digital assets” offer similar utility or stability, it causes a blurring of distinctions, perpetuating the idea that “bitcoin is merely one crypto among many.”

这突出了一个重要的问题：市场内的混乱。当一位现任总裁建议所有“数字资产”提供类似的效用或稳定性时，它会导致区分的模糊，这使“比特币仅仅是许多加密货币”的想法。

This is misleading for individuals who conflate an innovation with a proven

这对于将创新与经过验证的人混为一谈的个人是误导的