特朗普发行Meme币TRUMP，引发市场猜测

当地时间1月17日晚上9点44分，特朗普在社交媒体账户上宣布将推出个人表情币TRUMP

Former U.S. President Donald Trump announced the launch of his own meme coin, named TRUMP, on January 17. Users can visit the website "gettrumpmemes" to obtain the meme coin.

美国前总统唐纳德·特朗普于1月17日宣布推出自己的模因币，名为TRUMP。用户可以访问“gettrumpmemes”网站获取模因币。

The news sparked both support and opposition in the market, and the entire cryptocurrency market was in an uproar. Many investors also seized the opportunity to make a fortune. According to CoinGecko data, the TRUMP token reached a historical high of $72.02 at 8:03 PM on January 19.

消息一出，引发市场支持与反对，整个加密货币市场一片哗然。许多投资者也抓住了发财的机会。根据 CoinGecko 数据，TRUMP 代币于 1 月 19 日晚上 8:03 达到 72.02 美元的历史新高。

Trump is set to be sworn in at noon on January 20 (1 AM Beijing time on January 21) under the supervision of Chief Justice Roberts, followed by an inaugural speech. The three major American billionaires, Musk, Bezos, and Zuckerberg, will be present together. Two sources indicated that Trump is preparing to issue a large number of executive orders and directives on his first day in office, potentially exceeding 100 items, covering areas such as immigration and energy production.

特朗普定于1月20日中午（北京时间1月21日凌晨1点）在首席大法官罗伯茨的监督下宣誓就职，随后发表就职演说。美国三大亿万富翁马斯克、贝索斯、扎克伯格将一同出席。两名消息人士称，特朗普准备在上任第一天发布大量行政命令和指令，可能超过100项，涵盖移民和能源生产等领域。

At this clever timing, Trump's issuance of the meme coin has sparked market speculation: will such a move truly benefit the cryptocurrency market? Is it a game of chasing money with power?

在这个巧妙的时机，特朗普发行米姆币引发了市场猜测：此举是否真正有利于加密货币市场？这是一场以权力追逐金钱的游戏吗？

1. What do industry insiders who support Trump's coin say?

1、支持特朗普币的业内人士怎么说？

Andrei Grachev, Partner at DWF Labs, tweeted: Trump is doing the best marketing for the cryptocurrency market.

DWF Labs 合伙人 Andrei Grachev 发推文称：特朗普正在为加密货币市场做最好的营销。

Charles Hoskinson, Co-founder of Cardano, revealed on X that 78.5% of Trump's net worth of $29.6 billion is in cryptocurrencies, making him one of the wealthiest cryptocurrency entrepreneurs. This is mainly due to the issuance of the meme coin TRUMP. Hoskinson also pointed out that Trump's extensive involvement in cryptocurrencies could lead to significant changes in the industry. His administration may redefine the IRS's policies on capital gains tax and fair market value assessments of digital assets, and these expected changes could impact the regulatory framework of the cryptocurrency industry.

Cardano 联合创始人 Charles Hoskinson 在 X 上透露，特朗普 296 亿美元的净资产中 78.5% 是加密货币，这使他成为最富有的加密货币企业家之一。这主要是由于模因币TRUMP的发行。霍斯金森还指出，特朗普对加密货币的广泛参与可能会导致该行业发生重大变化。他的政府可能会重新定义美国国税局关于资本利得税和数字资产公平市场价值评估的政策，这些预期的变化可能会影响加密货币行业的监管框架。

Yat Siu, Co-founder of Animoca Brands, posted on X: He suggested that Trump carefully consider using TRUMP to support important charitable foundations and causes, as the handling of the token will have a ripple effect on the trust and reputation of the entire crypto and Web3 industry. Trump has the ability to do great things with TRUMP, which could make him the most generous and charitable president in American history.

Animoca Brands 联合创始人 Yat Siu 在 X 发文：他建议特朗普仔细考虑使用 TRUMP 来支持重要的慈善基金会和事业，因为该代币的处理将对整个加密货币的信任和声誉产生连锁反应和Web3行业。特朗普有能力与特朗普一起做伟大的事情，这可能使他成为美国历史上最慷慨、最慈善的总统。

2. What do industry insiders who oppose Trump's coin say?

2、反对特朗普币的业内人士有何评论？

Forbes stated: Trump's issuance of the meme coin could trigger a constitutional crisis. The report noted that while the newly nominated SEC chairman may introduce crypto-friendly policies, the fundamental legal principles remain unchanged, and the personality and policy preferences of SEC leaders cannot override established securities laws. The Howey Test from the Supreme Court has been the cornerstone of securities regulation for 75 years and is not influenced by individual government and political appointments. Although the SEC's enforcement focus may change under new leadership, its legal obligation to apply the Howey Test remains absolutely unchanged. This enduring framework for assessing investment schemes is independent of any chairman's crypto-friendly stance or industry relationships. The report pointed out that the launch of the TRUMP meme coin exposes a fundamental tension in contemporary American politics. While Trump positions himself as an advocate for the cryptocurrency industry and promises to make the U.S. the "global cryptocurrency capital," the structure and timing of his own digital token project raise concerns about the troubling fusion of personal wealth and political power. The concentration of token ownership in companies associated with Trump, combined with the timing of the issuance just before the inauguration, raises questions: Does this represent genuine support for cryptocurrency innovation, or is it merely a clever attempt to further monetize the presidency?

福布斯称：特朗普发行模因币可能引发宪法危机。报告指出，虽然新提名的 SEC 主席可能会推出加密货币友好政策，但基本法律原则保持不变，SEC 领导人的个性和政策偏好不能凌驾于既定的证券法之上。最高法院的豪伊测试 75 年来一直是证券监管的基石，不受个别政府和政治任命的影响。尽管 SEC 的执法重点可能会在新领导层的领导下发生变化，但其应用 Howey 测试的法律义务绝对保持不变。这种用于评估投资计划的持久框架独立于任何主席的加密货币友好立场或行业关系。报道指出，特朗普模因币的推出暴露了当代美国政治的根本紧张局势。尽管特朗普将自己定位为加密货币行业的倡导者，并承诺使美国成为“全球加密货币之都”，但他自己的数字代币项目的结构和时机引发了人们对个人财富和政治权力令人不安的融合的担忧。代币所有权集中在与特朗普相关的公司，再加上就职典礼之前发行的时间，引发了一些问题：这是否代表了对加密货币创新的真正支持，或者仅仅是进一步将总统职位货币化的聪明尝试？

Arthur Hayes commented on "Trump issuing the meme TRUMP": This is the launch of the political meme coin market. Any politician not afraid of public opinion will launch their own meme. The token economics are fugazi (a derogatory term for fake things), but these "bullshit" tokens reach $10 billion. However, he also noted: Meme coins are the best fan interaction tools ever. If Trump does this, then the risks for Beyoncé or Swift doing the same will be much lower.

Arthur Hayes 评论“特朗普发行模因 TRUMP”：这是政治模因币市场的启动。任何不惧怕公众舆论的政客都会推出自己的模因。代币经济学是fugazi（假东西的贬义词），但这些“狗屎”代币达到了100亿美元。不过，他也指出：Meme 币是有史以来最好的粉丝互动工具。如果特朗普这样做，那么碧昂斯或斯威夫特这样做的风险就会低得多。

Nick Tomaino, former Coinbase executive and crypto venture capitalist, stated that Trump owns 80% of the TRUMP coin and launched it just hours before the inauguration, which is predatory and could harm many people. Trump should airdrop to the public, rather than using this to enrich himself or his team. Currently, it looks like an FTX token. But he also pointed out: Trump's move signifies a shift from the anti-crypto era of Biden to the Trump era.

Coinbase 前高管、加密货币风险投资家 Nick Tomaino 表示，特朗普拥有 TRUMP 币 80% 的股份，并在就职前几个小时推出该币，这是掠夺性的，可能会伤害很多人。特朗普应该向公众空投，而不是利用它来充实自己或他的团队。目前，它看起来像 FTX 代币。但他也指出：特朗普此举标志着从拜登的反加密时代转向特朗普时代。

Balaji Srinivasan, former CTO of Coinbase, stated: Trump's net worth of approximately $59 billion has now turned over 90% into crypto assets, which could have significant implications: 1) Trump's crypto

Coinbase 前 CTO Balaji Srinivasan 表示：特朗普约 590 亿美元的净资产现已将 90% 转化为加密资产，这可能产生重大影响：1）特朗普的加密货币