特朗普推出 Solana Memecoin，但它合法吗？

周五深夜，这一消息首先在Truth Social上发布，不久之后又在特朗普的X账户上发布。一些传言称他在加密货币盛会上证实了这一点。

Donald Trump’s social media accounts announced the launch of a new Solana-based memecoin called $TRUMP on Friday night. Within minutes of the announcement, the cryptocurrency began trading in the hundreds of millions of dollars.

唐纳德·特朗普的社交媒体帐户于周五晚上宣布推出一种基于 Solana 的新模因币，名为 $TRUMP。消息公布后几分钟内，加密货币的交易量就开始达到数亿美元。

The announcement was first shared on Truth Social and shortly after on Trump’s X (formerly Twitter) account. Both posts featured identical language promoting $TRUMP, alongside a link to a website that resembles those used for Trump’s past NFT collections.

该消息首先在 Truth Social 上发布，不久后又在特朗普的 X（以前的 Twitter）账户上发布。这两篇帖子都使用了相同的语言来宣传 $TRUMP，并附有一个网站的链接，该网站类似于特朗普过去的 NFT 收藏所使用的网站。

“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW,” the posts read.

“我的新官方特朗普表情包就在这里！是时候庆祝我们所代表的一切了：胜利！加入我非常特别的特朗普社区。现在就得到你的特朗普吧，”帖子上写道。

The coin’s website credits CIC Digital, the same official licensee behind Trump’s NFT collections from 2022 and 2023. The infrastructure and deployment of the site also align with Trump’s earlier ventures, leading some to conclude that it’s legitimate.

该币的网站归功于 CIC Digital，它是特朗普 2022 年和 2023 年 NFT 系列背后的官方被许可人。该网站的基础设施和部署也与特朗普早期的投资相一致，导致一些人得出结论认为它是合法的。

The memecoin immediately gained traction. As of now, $TRUMP is trading at $8.32 with a self-reported market cap of $6.7 billion. However, 80% of the tokens are locked and will gradually unlock over the next three years, making the circulating supply—and its true market cap—much smaller.

模因币立即受到关注。截至目前，$TRUMP 的交易价格为 8.32 美元，自我报告的市值为 67 亿美元。然而，80% 的代币被锁定，并将在未来三年内逐步解锁，使得流通供应量及其真实市值要小得多。

Blockchain tracking sites show that the coin has generated roughly $680 million in trading volume in its first hours of existence, placing it among the most actively traded new cryptocurrencies.

区块链跟踪网站显示，该代币在诞生的最初几个小时内就产生了约 6.8 亿美元的交易量，使其成为交易最活跃的新加密货币之一。

The Case for $TRUMP Being Legitimate

$TRUMP 合法化的理由

If this is a sanctioned Trump project, it would align with his recent pro-crypto stance. Trump has previously dipped his toes into Web3 with multiple NFT collections, and he’s publicly endorsed World Liberty Financial, a decentralized finance platform.

如果这是特朗普批准的项目，那么它将符合他最近支持加密货币的立场。特朗普此前曾通过多个 NFT 集合涉足 Web3，并公开支持去中心化金融平台 World Liberty Financial。

Observers have pointed out that the $TRUMP website is remarkably similar to Trump’s NFT sites, down to the hosting provider, Heroku. This consistency has led blockchain experts like the pseudonymous engineer cygaar to suggest that the same team likely deployed both projects.

观察人士指出，$TRUMP 网站与特朗普的 NFT 网站非常相似，甚至包括托管提供商 Heroku。这种一致性使得匿名工程师 cygaar 等区块链专家认为，这两个项目可能是同一个团队部署的。

Additionally, the posts on X and Truth Social have remained live for over 12 hours, with no follow-up indicating a hack or disavowal from Trump’s team.

此外，X 和 Truth Social 上的帖子已持续存在超过 12 小时，没有后续迹象表明特朗普团队遭到黑客攻击或否认。

Trump’s presidency has also leaned heavily into memes and online engagement, so launching an official memecoin as a cultural and financial rallying point wouldn’t be entirely out of character.

特朗普的总统任期也严重依赖模因和在线参与，因此推出官方模因币作为文化和金融的集结点也并非完全不符合特朗普的性格。

Further, he’s close with Elon Musk, who owns X. If it were a hack, he’s got direct access to the owner of the platform– which is more than the 99.99% of people who have had their X profile hacked.

此外，他与拥有 X 的埃隆·马斯克关系密切。如果遭到黑客攻击，他可以直接联系该平台的所有者——这比 99.99% 的 X 个人资料被黑客入侵的人还要多。

The Case for Skepticism: Is Trump’s Memecoin a Scam?

怀疑论的理由：特朗普的 Memecoin 是一个骗局吗？

Despite the evidence pointing to legitimacy, there are reasons to remain cautious.

尽管有证据表明其合法性，但仍有理由保持谨慎。

First, the coin’s funding origins have raised eyebrows. On-chain sleuths discovered that the project was seeded with millions of dollars from wallets linked to Binance and Gate.io, exchanges that do not cater to U.S. customers. For a project tied to a U.S. president, this is an unusual choice—and potentially problematic from a regulatory perspective.

首先，该代币的资金来源引起了人们的关注。链上侦探发现，该项目从与 Binance 和 Gate.io 相关的钱包中注入了数百万美元，而这些交易所并不迎合美国客户的需求。对于一个与美国总统相关的项目来说，这是一个不寻常的选择，而且从监管角度来看可能存在问题。

Second, Trump’s high-profile status makes his accounts a prime target for hackers. One red flag is that the top ten holders have 86% of the coin, and the contract ownership is not renounced.

其次，特朗普的高调地位使他的账户成为黑客的首要目标。一个危险信号是，前十大持有者拥有 86% 的代币，并且合约所有权并未放弃。

The crypto industry has seen countless examples of high-profile figures’ accounts being compromised to promote pump-and-dump scams. In most cases, the hacked posts are quickly deleted, but the extended time these posts have remained live complicates the picture.

加密货币行业已经见证了无数知名人士的账户被泄露以促进拉高抛售骗局的例子。在大多数情况下，被黑的帖子很快就会被删除，但这些帖子持续存在的时间延长了，情况变得更加复杂。

Lastly, while the coin is trading actively, many memecoins experience sharp rises followed by equally sharp declines as liquidity dries up or early adopters sell off their holdings. Whether $TRUMP holds its value or proves to be a speculative bubble remains to be seen.

最后，虽然该代币交易活跃，但随着流动性枯竭或早期采用者出售其持有的资产，许多模因币经历了急剧上涨，然后同样急剧下跌。特朗普美元是否能保值或被证明是投机泡沫仍有待观察。

So, What if $TRUMP is Real?

那么，如果 $TRUMP 是真的怎么办？

If $TRUMP is legitimate, it could signal a major shift in Trump’s approach to cryptocurrency, and a conversation would need to be had about the role of memecoins here on out.

如果 $TRUMP 是合法的，它可能标志着特朗普对加密货币的态度发生重大转变，并且需要就模因币的作用进行对话。

As a sitting president, his endorsement of a memecoin would elevate the conversation around crypto to the highest levels of global politics– and likely not in a good way.

作为一名现任总统，他对模因币的认可将把围绕加密货币的对话提升到全球政治的最高水平——而且可能不是一个好的方式。

A Trump-backed memecoin would also present opportunities and risks for the U.S. crypto market. On one hand, it could rally his supporters around blockchain technology, potentially boosting adoption. On the other, it raises questions about the regulatory implications of a president directly promoting a cryptocurrency.

特朗普支持的模因币也将为美国加密市场带来机遇和风险。一方面，它可以将他的支持者聚集在区块链技术周围，从而有可能促进区块链技术的采用。另一方面，它引发了有关总统直接推广加密货币的监管影响的问题。

What It Means If $TRUMP is a Scam

如果 $TRUMP 是一个骗局意味着什么

If Trump’s accounts were hacked, this could go down as one of the most sophisticated scams in crypto history. The resemblance to Trump’s past NFT projects, combined with the coin’s rapid adoption, suggests that the attackers put significant effort into making the project appear authentic.

如果特朗普的账户被黑客入侵，这可能会成为加密货币历史上最复杂的骗局之一。与特朗普过去的 NFT 项目相似，再加上该币的快速采用，表明攻击者付出了巨大的努力，让该项目显得真实。

A scam of this

一个这样的骗局