政治认可和高度投机资产（如Meme Coins）的协同作用总是一定是灾难性的

在过去的十年中，加密货币已经走了很长一段路。主流采用，机构利益和监管清晰度有助于该行业提高信誉。

The synergy of political endorsement and highly speculative assets like meme coins was always bound to be disastrous, and the recent LIBRA scandal was a clear reflection of this concern.

政治认可和高度投机资产（如Meme硬币）的协同作用总是灾难性的，而最近的天秤座丑闻明显地反映了这一问题。

Crypto has come a long way over the past decade. Mainstream adoption, institutional interest, and regulatory clarity helped the industry gain increasing credibility. And meme coins also carved out an exciting niche in this sector, which reflected creativity and community engagement. Yet, political meme coins could ruin this decades-worth of progress very quickly.

在过去的十年中，加密货币已经走了很长一段路。主流采用，机构利益和监管清晰度有助于该行业提高信誉。 Meme Coins还在该领域雕刻了一个令人兴奋的利基市场，这反映了创造力和社区参与。然而，政治模因硬币可能很快就会毁掉这十年的进步。

A promotional post from Argentina’s president, Javier Milei, caused LIBRA investors to lose over $250 million in just hours. His endorsement sparked a buying frenzy that pushed the price from near zero to almost $5 in a matter of minutes. Insiders quickly cashed out, dumping over $107 million in tokens before the price collapsed. Argentina’s fintech chamber labeled this classic rug pull without mincing words.

阿根廷总裁哈维尔·米利（Javier Milei）的宣传职位使天秤座的投资者在短短几个小时内损失了超过2.5亿美元。他的代言引发了一场购买疯狂，在几分钟之内将价格从零近提高到近5美元。内部人士迅速兑现，在价格崩溃之前倾倒了超过1.07亿美元的代币。阿根廷的金融科技腔室标记了这种经典的地毯，而无需切碎单词。

The synergy of political endorsement and highly speculative assets like meme coins was always bound to be disastrous, and the recent LIBRA incident is a clear reflection of this concern.

政治认可和高度投机资产（如模因硬币）的协同作用总是灾难性的，而最近的天秤座事件明显反映了这一问题。

Crypto has come a long way over the past decade. Mainstream adoption, institutional interest, and regulatory clarity helped the industry gain increasing credibility. Meme coins also carved out an exciting niche in this sector, showcasing creativity and community engagement. However, political meme coins could quickly unravel this progress.

在过去的十年中，加密货币已经走了很长一段路。主流采用，机构利益和监管清晰度有助于该行业提高信誉。 Meme Coins还在该领域雕刻了一个令人兴奋的利基市场，展示了创造力和社区参与。但是，政治模因硬币可以迅速揭示这一进展。

A promotional post from Argentina’s president, Javier Milei, led to LIBRA investors losing over $250 million within hours. Milei’s endorsement sparked a buying frenzy, pushing the price from near zero to almost $5 in minutes. Insiders quickly cashed out, dumping over $107 million in tokens before the price collapsed. Argentina’s fintech chamber labeled this a classic rug pull without mincing words.

阿根廷总裁哈维尔·麦利（Javier Milei）的宣传职位导致天秤座投资者在几个小时内损失了超过2.5亿美元。麦莉的认可引发了购买的疯狂，在几分钟内将价格从零接近降低到近5美元。内部人士迅速兑现，在价格崩溃之前倾倒了超过1.07亿美元的代币。阿根廷的金融科技室将其标记为经典的地毯，而无需切碎单词。

Unfortunately, the LIBRA scandal was not an exceptional case. Bubblemap analysts traced LIBRA’s origins back to the team behind the MELANIA token and other pump-and-dump schemes. The same group launched several coins that swelled in price before crashing.

不幸的是，天秤座的丑闻不是一个例外。 Bubblemap分析师将Libra的起源追溯到Melania代币和其他泵送计划的团队。同一小组发行了几枚硬币，这些硬币在崩溃之前膨胀了。

President Milei, a self-proclaimed libertarian and Bitcoin enthusiast, used his platform to share information about LIBRA. His tweet ignited a rush among investors eager to capitalize on the president’s reputation. It’s still staggering that influential figures have yet to understand the true impact of their statements on an industry largely driven by speculative interest.

自称自由主义者和比特币爱好者麦利（Milei）总统利用他的平台分享有关天秤座的信息。他的推文引发了渴望利用总统声誉的投资者的匆忙。有影响力的人物尚未了解其陈述对主要受到投机兴趣驱动的行业的真正影响仍然令人惊讶。

As the token’s value soared, insiders began unloading their tokens. Within hours, the coin’s market cap fell from $4.5 billion to just a fraction of that amount. However, on-chain analysis shows that LIBRA was fundamentally designed to potentially scam investors. The founders held 70% of the token supply, which allowed them to profit massively while leaving retail investors vulnerable. When insiders cashed out, many traders lost nearly everything they had invested.

随着代币的价值飙升，内部人员开始卸载其令牌。在几个小时内，硬币的市值从45亿美元下降到只有一小部分。但是，链上的分析表明，天秤座的根本是为潜在的骗局投资者而设计的。创始人持有70％的令牌供应，这使他们在使零售投资者脆弱的同时大量​​获利。当内部人士兑现时，许多交易者几乎失去了他们投资的一切。

Such pump-and-dump schemes always follow the same playbook: a high-profile personality sparks investor interest, insiders pocket their profits, and the token collapses. This pattern played out with LIBRA in a textbook fashion.

这样的泵送计划总是遵循同一本剧本：备受瞩目的个性激发了投资者的兴趣，内部人士的利润和代币崩溃。这种模式以教科书方式与天秤座一起播放。

Political endorsements used in these schemes add a disturbing twist to the story. Milei’s tweet did more than spread a message; it lent credibility to a high-risk asset. When a sitting president supports a project, many assume there is underlying merit. This assumption helped drive the buying frenzy around LIBRA. Similar episodes occurred in the United States with the TRUMP and MELANIA tokens. Politically-linked meme coins have morphed from mere speculative plays into tools for financial manipulation.

这些计划中使用的政治认可为故事带来了令人不安的转折。 Milei的推文不仅仅是传播信息。它使高风险资产的信誉使人信誉。当现任总统支持一个项目时，许多人认为存在基本的优点。这个假设有助于推动天秤座周围的狂热。在美国，特朗普和梅拉尼亚令牌也发生了类似的事件。与政治上的模因硬币已经从仅仅投机戏剧变成了用于财务操纵的工具。

Galaxy Research Analyst Alex Thorn describes LIBRA as the latest example of a series of Solana-based meme coin implosions. During this crash, Solana’s transaction volumes plummeted to mid-2024 levels, and there is growing concern over a $1.5 billion FTX token unlock. These factors combine to put additional pressure on Solana’s price.

Galaxy Research分析师Alex Thorn将Libra描述为一系列基于Solana的模因硬币内爆的最新例子。在这次崩溃期间，Solana的交易量暴跌至2024年中期，并且人们对15亿美元的FTX代币解锁的关注越来越大。这些因素结合起来，给索拉纳的价格施加了额外的压力。

Meme coins, which dominated headlines in 2024, now face harsh market realities in 2025. Many of these tokens have already lost 30-60% of their value. Activity on platforms such as Pump.fun has cratered, and overall trading volume in the sector is in freefall.

模因硬币在2024年统治了头条新闻，现在在2025年面临严峻的市场现实。其中许多令牌已经损失了其价值的30-60％。诸如pump.fun之类的平台上的活动已经围成围栏，该行业的总体交易量是自由落体的。

The trend of politically-endorsed tokens creates an environment where hype easily overrides fundamentals. Political figures lend their names to projects with little oversight. This practice allows groups of insiders to generate large profits at the expense of everyday investors.

政治上标记的趋势创造了一个环境，使炒作很容易覆盖基本面。政治人物将他们的名字借给了几乎没有监督的项目。这种做法使一群内部人能够以日常投资者为代价来产生大量利润。

The situation exposes a troubling trend in crypto markets. When prominent figures use their influence to spark buying frenzies, they turn volatile tokens into weapons for financial manipulation. Such practices risk undermining trust in the entire crypto ecosystem.

这种情况暴露了加密货币市场的令人不安的趋势。当著名人物利用自己的影响力引发购买疯狂时，它们将波动的代币变成用于金融操纵的武器。这种实践有可能破坏对整个加密生态系统的信任。

The $LIBRA debacle should serve as a harsh lesson for retail investors. Many of those who lost money had a high level of technical knowledge, as they needed Solana wallets and SOL tokens to participate.

$天秤座的崩溃应该是散户投资者的严厉课程。许多损失金钱的人都有很高的技术知识，因为他们需要Solana钱包和Sol代币才能参与。

However, the overall appeal of politically charged tokens often attracts investors who believe that an endorsement from a political heavyweight guarantees success. Reality proved otherwise. When high-profile

但是，政治上有指控的代币的总体吸引力通常会吸引那些认为政治重量级认可的投资者可以保证成功。事实证明了现实。备受瞩目的时候