唐纳德·特朗普总统承诺将加密投资者迎来合法时代

全球3.5万亿美元的加密货币市场是一个大帐篷，而像比特币这样的代币则占据了行业的主导地位，但区块链的开源，分散的性质

President Donald Trump promised crypto investors he’d usher in an era of legitimacy for an industry that’s long been relegated to the financial wilderness — dismissed by some mainstream investors as an highly speculative bet at best or an elaborate Ponzi scheme at worst.

总统唐纳德·特朗普（Donald Trump）承诺，加密货币投资者将迎来一个长期以来一直降级到金融荒野的行业的合法时代，该行业被一些主流投资者驳回，作为一个高度投机性的赌注，最多是最多的庞氏骗局计划。

But days before his inauguration, Trump shocked many of his crypto supporters by peddling a digital token known as a meme coin, a functionally worthless asset that trades on hype and are a go-to vehicle for scams known as rug pulls.

但是在就职典礼前几天，特朗普通过兜售名为Meme Coin的数字代币来震惊了他的许多加密支持者，这是一种功能上一文不值的资产，在炒作方面进行了交易，并且是骗局的骗局，被称为地毯拉力。

To be clear, not all meme coins are scams, and the $TRUMP and $MELANIA coins appear to have safeguards built in to prevent a rug pull. Specifically, the Trump coin’s website says its majority holders are subject to a three-year unlocking schedule, so they can’t sell all at once. But even without selling a single token, the Trump Org. had raked in an estimated $58 million in a single day in trading fees alone, according to crypto researcher and former Coinbase executive Conor Grogan.

需要明确的是，并非所有的模因硬币都是骗局，而特朗普和$ Melania硬币似乎在内置有保障措施，以防止地毯拉。具体来说，特朗普硬币的网站表示，其大多数持有人将遵守为期三年​​的解锁时间表，因此他们不能一次出售全部。但是，即使没有出售一个象征，特朗普组织也是如此。 Crypto研究人员和前Coinbase Execione Conor Grogan表示，仅在一天中，仅在一天的交易费中就获得了约5800万美元的票房。

Yet meme coins have become known for rug pulls, in which developers launch a coin, run up its price and quickly cash out. If that sounds familiar, the “Hawk Tuah” influencer Haliey Welch was recently sued over her own coin, which briefly soared to a $500 million market cap before falling 90%. Welch said in a statement posted to X last month that she takes the situation seriously and is working to help affected investors.

然而，Meme硬币以地毯拉力而闻名，在该地毯上，开发人员推出了一枚硬币，上涨了价格并迅速兑现。如果听起来很熟悉，那么“霍克·图阿”有影响力的人哈利·韦尔奇（Haliey Welch）最近被起诉自己的硬币，在下跌90％之前，它短暂地飙升至5亿美元的市值。韦尔奇在上个月发布给X的一份声明中说，她认真对待局势，并正在努力帮助受影响的投资者。

Meme coins represent the absurd, at times fraudulent, side of crypto that the increasingly wealthy proponents of the widely traded bitcoin and ether would like to move past. The fact that America’s first “pro-crypto” president is hawking a token with no tangible utility has some in the industry concerned about Trump and his advisers’ judgement as they prepare to overhaul the US regulatory regime with a new zeal for digital assets.

模因硬币代表了加密货币的荒谬，有时是欺诈性的一面，即广泛交易的比特币和以太币希望过去的人越来越富有的支持者。美国第一位“亲克莱托普”总统正在卖掉没有切实实用性的象征，这一事实在行业中担心特朗普及其顾问的判断，因为他们准备对美国监管制度进行大修，并对数字资产的新热情进行新的热情。

“Trump needs to fire his crypto advisors, from top to bottom,” tweeted Gabor Gurbacs, founder of digital asset firm Pointsville.

数字资产公司Pointsville的创始人Gabor Gurbacs在推特上说：“特朗普需要从上到下解雇他的加密顾问。”

One giant ethical concern centers on Trump’s majority ownership of the tokens: 80% of the coin’s supply is held by Trump Organization affiliates CIC Digital and Fight Fight Fight LLC — a concentration that appears designed to personally enrich the president. Trump Org did not respond to a request for comment, but Eric Trump, the company’s executive vice president, said in an X post Saturday: “I am extremely proud of what we continue to accomplish in crypto. $Trump is currently the hottest digital meme on earth.”

一个巨大的道德关注点是特朗普对代币的多数所有权的重点：特朗普组织的供应中有80％是由CIC Digital和Fight Fight Fight Fight Fight LLC持有的，这一集中似乎旨在个人丰富总统。特朗普·诺格（Trump Org）没有回应置评请求，但是该公司执行副总裁埃里克·特朗普（Eric Trump）在周六的X帖子中说：“我为我们继续在加密货币中所取得的成就感到自豪。 $特朗普目前是地球上最热门的数字模因。”

“Even meme coin enthusiasts are skeptical of projects where the majority of tokens are not held by a broader community and appear to be designed in way that disproportionately benefits insiders,” Gareth Rhodes, managing director at advisory firm Pacific Street, told me. “But it is early, and the launch team can still take action to make it a more community-focused project.”

“即使是模因硬币爱好者也对大多数代币都不由更广泛的社区持有的项目持怀疑态度，而且似乎以不成比例的方式设计的方式，”太平洋咨询公司的董事总经理Gareth Rhodes告诉我。 “但是现在还早，发射团队仍然可以采取行动使其成为一个更加社区的项目。”

Ethics experts swiftly decried the apparent conflict of interest.

道德专家迅速谴责了明显的利益冲突。

Walter Shaub, the ethics watchdog who clashed with Trump during his first term before stepping down, told my colleague Matt Egan the meme coin maneuver suggests “the very idea of government ethics is now a smoldering crater.”

沃尔特·肖布（Walter Shaub）是道德监管机构在辞职之前与特朗普发生冲突的道德监管机构，他告诉我的同事马特·埃根（Matt Egan），模因硬币的动作表明：“政府道德规范的概念现在是一个闷闷不乐的火山口。”

The Trump administration, which officially entered the White House on Monday, didn’t respond to CNN’s request for comment.

周一正式进入白宫的特朗普政府没有回应CNN的置评请求。

The dangers of meme coins

模因硬币的危险

The global $3.5 trillion crypto market is a big tent, and while tokens like bitcoin dominate the industry, the open-sourced, decentralized nature of the blockchain, crypto’s infrastructure, makes it easy for any developer to launch a token, run up the price and walk away with impunity. According to Forbes, between 40,000 and 50,000 new meme coins are created every day, with a combined market value of $100 billion.

全球3.5万亿美元的加密市场是一个很大的帐篷，而像比特币这样的代币则占据了整个行业的主导地位，但区块链的开源，分散的特性性质，Crypto的基础架构，使任何开发商都可以轻松推出代币，价格上涨，运行价格和运行价格，并运行价格和价格不受惩罚地走开。根据福布斯的说法，每天创造40,000至50,000个新的模因硬币，总市场价值为1000亿美元。

People tend to buy meme coins for the novelty, but doing so is about as risky as playing a casino slot machine. Trump’s meme coin shot up after its launch Friday, from about $6.50 to $75 on Sunday, according to data from Coingecko. Then it tumbled, losing more than half its value on Monday as Trump entered the White House without any public nod to his crypto agenda. The price was hovering below $40 Tuesday.

人们倾向于为新颖性购买模因硬币，但是这样做就像玩赌场老虎机一样冒险。根据Coingecko的数据，特朗普的模因硬币在周五推出后从周日的$ 6.50到75美元升起。然后，当特朗普进入白宫而没有任何公众点头，周一，它跌倒了，在周一损失了一半以上的价值。价格徘徊在星期二40美元以下。

Last week, just a few days before Trump launched his token, the New York State Department of Financial Services issued a consumer alert over “rapidly proliferating” meme coins, which present “exceptional risk of fraud and loss of funds.”

上周，在特朗普推出代币的前几天，纽约州金融服务部就“迅速繁殖”的模因硬币发布了消费者警报，该硬币呈现出“欺诈和资金损失的特殊风险”。

Matthew Homer, a former financial regulator and now general partner of the crypto firm Department of XYZ, echoed a common industry refrain that a lack of regulatory clarity around crypto has contributed to those fraud risks.

马修·荷马（Matthew Homer）是XYZ的加密货币公司部门的前金融监管机构，现在是XYZ的普通合伙人，他回应了一个共同的行业，即对加密货币的缺乏监管清晰度促成了这些欺诈风险。

The Securities and Exchange Commission’s approach, he said, “created a situation where projects with genuine utility face significant regulatory hurdles, while purely speculative assets do not.”

他说，美国证券交易委员会的方法“创造了一种情况，具有真正公用事业的项目面临重大监管障碍，而纯粹的投机资产则没有。”

While bitcoin, the original cryptocurrency, bills itself as a sophisticated innovation with the power to revolutionize the financial system

在比特币（原始的加密货币）中，比特币将自己视为一项复杂的创新，具有革新金融体系的能力