特朗普就职引发加密繁荣和市场动荡，美元在政策不确定性中走弱

唐纳德·特朗普总统的就职不仅标志着他重返白宫，也标志着特朗普家族的加密货币代币激增

Freshly minted cryptocurrency tokens from the Trump family soared in value on Monday, riding a wave of broader enthusiasm in crypto markets and strong investor interest in the digital assets.

特朗普家族新铸造的加密货币代币周一价值飙升，带动了加密货币市场更广泛的热情和投资者对数字资产的浓厚兴趣。

The tokens, branded as $Trump and $Melania, debuted over the weekend and quickly surpassed $10 billion in paper value. This surge coincided with Bitcoin reaching an all-time high of over $109,000 on Monday. The trading platform Robinhood, which also contributed to Mr. Trump’s inauguration fund, further boosted the tokens’ visibility by adding $Trump to its platform on Monday.

这些代币名为“$Trump”和“$Melania”，于周末首次推出，纸面价值迅速超过 100 亿美元。此次飙升恰逢比特币周一触及 109,000 美元以上的历史新高。交易平台 Robinhood 也为特朗普的就职基金提供了捐款，该平台周一将 $Trump 添加到其平台，进一步提高了代币的知名度。

Memecoins like $Trump are typically linked to online culture or celebrity personas, and their availability on major trading platforms is rare. Trump affiliates control the majority of the tokens, which will be released gradually over the coming years.

像 $Trump 这样的模因币通常与网络文化或名人形象相关，并且它们在主要交易平台上的可用性很少。特朗普的附属机构控制着大部分代币，这些代币将在未来几年逐步释放。

Before the token launch, Forbes estimated Mr. Trump’s net worth at $6.7 billion, largely stemming from his ownership of Trump Media and Technology Group, the parent company of Truth Social. Now, as Mr. Trump assumes the presidency, the rapid rise in token value has raised potential concerns about new conflicts of interest.

在代币发行之前，《福布斯》估计特朗普先生的净资产为 67 亿美元，主要来自他对 Truth Social 母公司特朗普媒体和科技集团的所有权。现在，随着特朗普就任总统，代币价值的快速上涨引发了对新利益冲突的潜在担忧。

Ethics watchdogs highlight the possibility of businesses and traders using these tokens to gain influence with the administration. Mr. Trump, a former crypto skeptic, has recently embraced the digital asset industry. He pledged to establish the United States as a global hub for cryptocurrency, a vision realized partly through World Liberty Financial, a crypto-focused venture he co-founded with his sons. Additionally, several advocates for lighter crypto regulation were appointed to key roles in his administration.

道德监管机构强调企业和交易者使用这些代币来获得对政府影响力的可能性。特朗普先生曾是加密货币怀疑论者，最近开始拥抱数字资产行业。他承诺将美国打造成全球加密货币中心，这一愿景部分通过他与儿子们共同创立的专注于加密货币的企业 World Liberty Financial 实现。此外，几位主张放松加密货币监管的倡导者被任命在他的政府中担任关键职务。

Crypto markets have rallied significantly since Mr. Trump’s electoral victory, with Bitcoin leading the charge. The interplay between the administration’s crypto-friendly stance and the broader market enthusiasm continues to draw global attention.

自特朗普赢得选举以来，加密货币市场大幅上涨，其中比特币领涨。政府对加密货币友好的立场与更广泛的市场热情之间的相互作用继续引起全球关注。

Trump’s Inauguration Sparks Crypto Boom and Market Turbulence, Dollar Weakens Amid Policy Uncertainty

特朗普就职引发加密繁荣和市场动荡，美元在政策不确定性中走软

President Donald Trump's inauguration not only marked his return to the White House but also saw the surge of the Trump family's cryptocurrency tokens and a sharp decline in the U.S. dollar, as investors reacted to the administration's trade policy statements and varying signals on tariffs.

唐纳德·特朗普总统的就职不仅标志着他重返白宫，而且随着投资者对政府的贸易政策声明和不同的关税信号做出反应，特朗普家族的加密货币代币飙升，美元急剧下跌。

Trump's Cryptocurrency Windfall

特朗普的加密货币意外之财

Launched over the weekend, the $Trump and $Melania tokens reached a combined paper value of over $10 billion as trading platforms like Robinhood began offering the tokens. This surge coincided with Bitcoin hitting a record $109,000, fueling broader enthusiasm in the crypto market. However, ethics experts raised concerns about potential conflicts of interest as Mr. Trump begins his term with substantial holdings in digital assets.

随着 Robinhood 等交易平台开始提供代币，周末推出的 $Trump 和 $Melania 代币的纸面价值合计超过 100 亿美元。此次飙升恰逢比特币触及创纪录的 109,000 美元，激发了加密货币市场更广泛的热情。然而，随着特朗普在任期开始时大量持有数字资产，道德专家对潜在的利益冲突表示担忧。

Mr. Trump's pivot to cryptocurrency reflects his evolving stance. Once a skeptic, he now champions the sector, pledging to make the U.S. a global leader in crypto innovation. His administration has also appointed crypto-friendly advisors and floated ideas for regulatory reform, which could further galvanize the sector.

特朗普转向加密货币反映了他不断变化的立场。他曾经是一个怀疑论者，现在却是该行业的拥护者，承诺使美国成为加密货币创新的全球领导者。他的政府还任命了对加密货币友好的顾问，并提出了监管改革的想法，这可能会进一步刺激该行业。

Dollar Takes a Hit on Trade Policy Ambiguity

美元因贸易政策模糊而受到打击

Meanwhile, the dollar index dropped nearly 1%, with the euro, sterling, and Mexican peso gaining ground. Investors reacted to Mr. Trump's inaugural promise to “tariff and tax foreign countries to enrich our citizens” but noted the lack of immediate action. Analysts like James Nelligan from JPMorgan suggested that the absence of swift tariff implementation was a “short-term disappointment” for the dollar.

与此同时，美元指数下跌近1%，欧元、英镑和墨西哥比索上涨。投资者对特朗普首次承诺“对外国征收关税和征税以使我们的公民致富”做出了反应，但注意到特朗普没有立即采取行动。摩根大通的詹姆斯·内利根(James Nelligan)等分析师表示，关税未能迅速实施对美元来说是“短期失望”。

Despite the decline, some experts believe that more aggressive trade measures could be introduced after federal reviews of key relationships with countries like China, Canada, and Mexico. Markets had already been anticipating inflationary pressures from potential tariffs, which could influence Federal Reserve interest rate decisions in the months ahead.

尽管下降，一些专家认为，在联邦审查与中国、加拿大和墨西哥等国家的重要关系后，可能会采取更积极的贸易措施。市场已经预计潜在关税将带来通胀压力，这可能会影响美联储未来几个月的利率决策。

Broader Market Impacts

更广泛的市场影响

Oil prices declined after Mr. Trump declared an “energy emergency,” proposing to open federal land for oil exploration. Brent crude fell 0.9% to $80.03 per barrel, while WTI dropped 1.7% to $76.58 per barrel. In contrast, European equity markets closed slightly higher, with London's FTSE 100 reaching a record high, buoyed by optimism about global economic prospects.

在特朗普宣布“能源紧急状态”并提议开放联邦土地进行石油勘探后，油价下跌。布伦特原油下跌 0.9%，至每桶 80.03 美元，WTI 原油下跌 1.7%，至每桶 76.58 美元。相比之下，欧洲股市小幅收高，伦敦富时 100 指数在全球经济前景乐观的推动下创下历史新高。

Currency market volatility is expected to persist as the administration's trade policies and crypto initiatives unfold. Chris Turner of ING remarked, “The one thing the [currency] market had expected was more volatility. And we’re certainly seeing that.”

随着政府贸易政策和加密货币举措的展开，货币市场波动预计将持续存在。荷兰国际集团 (ING) 的克里斯·特纳 (Chris Turner) 表示：“[货币]市场所预期的一件事是波动性更大。我们确实看到了这一点。”

As Mr. Trump begins his presidency, the interplay of crypto market dynamics, trade policy, and broader economic strategies will continue to shape global markets, presenting both opportunities and challenges for investors.

随着特朗普先生就任总统，加密货币市场动态、贸易政策和更广泛的经济战略的相互作用将继续塑造全球市场，为投资者带来机遇和挑战。