特朗普模因硬币拖曳，提醒着加密货币的承诺和危险

但是，当特朗普和他的妻子梅拉尼亚（Melania）上周推出了一双模因硬币时，加密粉丝的粉丝可能比他们讨价还价更多。

Former President Donald Trump and his wife, Melania, have each launched their own meme coin, with $TRUMP and $MELANIA tokens hitting the market last week.

前总统唐纳德·特朗普（Donald Trump）和他的妻子梅拉尼亚（Melania）各自发起了自己的模因硬币，上周以$ trump和$ Melania代币在市场上上市。

The coins, which have no cash flows or easily defined business purpose, quickly shot up in value. The $TRUMP token’s market value briefly hit $15 billion within hours of its launch on Jan. 17.

没有现金流或易于定义的商业目的的硬币迅速产生了价值。特朗普代币的市场价值在1月17日推出后的几个小时内短暂达到了150亿美元。

Prices for the token have been volatile. When the Trump team followed up with a copycat $MELANIA coin a day later, the Trump coin’s value plunged by more than 40%.

令牌的价格是波动的。当特朗普团队每天跟进了CopyCat $ Melania硬币时，特朗普硬币的价值下降了40％以上。

Today, $TRUMP has a market value of around $7.1 billion, ranking third among meme coins after Dogecoin and Shiba Inu, according to CoinMarketCap, a website that tracks crypto prices. $MELANIA, ranked 17th, has a market value of around $350 million.

今天，$ trump的市场价值约为71亿美元，在追踪加密价格的网站CoinMarketCap表示，在Dogecoin和Shiba Inu之后，在Meme硬币中排名第三。梅拉尼亚（Melania）排名第17，市场价值约为3.5亿美元。

Those figures are only for the value of the “circulating supply” of the coins. It is worth noting that only a fraction of the total amount of the coins is available for trading. The rest appears to be owned by the Trumps.

这些数字仅用于硬币的“循环供应”的价值。值得注意的是，只有硬币总额的一小部分可用于交易。其余的似乎由特朗普拥有。

The Wall Street Journal recently put the value of the president’s stake at $30 billion, while noting that number is only theoretical. It said that any attempt to sell the hoard of coins would likely further tank their value.

《华尔街日报》最近将总统股份的价值定为300亿美元，同时指出这个数字只是理论上的。它说，任何出售硬币ho积的尝试都可能会进一步推动其价值。

It isn’t bad for a week’s work—except that plenty of crypto fans have expressed doubts. “We have pretty much stayed away from meme coins,” said Cathie Wood, manager of the popular tech-focused ARK Innovation ETF (ticker: ARKK), when asked if she would buy the coin on Bloomberg TV. “Is it going to have any utility? We shall see.”

对于一周的工作来说，这还不错 - 除了很多加密粉丝都表达了怀疑。当被问及她是否会在彭博电视台上购买硬币时，流行的方舟创新ETF（股票：ARKK）经理Cathie Wood说：“我们几乎远离了模因硬币。” “它将有任何公用事业吗？我们会看到的。”

The White House didn’t immediately respond to an email from Barron’s seeking comment. Asked about the coin at a recent press conference, Trump seemed to manage only a halfhearted response. “I don’t know much about it, other than that I launched it.” he said. “I heard it was successful.”

白宫没有立即回复巴伦寻求评论的电子邮件。被问及硬币在最近的一次新闻发布会上，特朗普似乎只管理了一个半心的回应。 “除了我推出它，我对此一无所知。”他说。 “我听说这很成功。”

The coins come at an important moment in cryptocurrencies’ bid to go mainstream. For years, the industry has struggled to rekindle the sense of excitement and magic of the early 2020s, when Bitcoin’s (BTC) market value first hit $1 trillion. While crypto never went away, declining prices and scandals such as the implosion of Sam Bankman-Fried’s FTX exchange sapped public interest.

硬币是在加密货币竞标主流的重要时刻。多年来，当比特币（BTC）的市场价值首先达到1万亿美元时，该行业一直在努力重新激发2020年代初的兴奋感和魔力。尽管加密货币从未消失，但价格下降和丑闻，例如Sam Bankman-Fried的FTX Exchange的内爆，这减少了公共利益。

Now, the new Trump administration promises to create a second golden era for crypto. While the Biden administration took a cautious approach, Mark Uyeda, whom Trump named acting head of the Securities and Exchange Commission on Tuesday, immediately promised to launch a crypto task force led by Commissioner Hester Peirce, one of the agency’s biggest crypto defenders.

现在，新的特朗普政府承诺为加密货币创造第二个黄金时代。当拜登政府采取谨慎的态度时，特朗普周二将特朗普任命为美国证券交易委员会代理主管的马克·乌耶达（Mark Uyeda）立即承诺将发起由该机构最大的加密verle派人士之一Hester Peirce领导的加密特遣部队。

Under Trump, investors can also look forward to a slew of crypto-focused exchange-traded funds, following the popularity of spot Bitcoin ETFs, which launched in early 2024. Proposals for funds that own XRP, Solana, Hedera. and Litecoin (LTC) are all before the SEC.

在特朗普的领导下，投资者还可以期待一系列以加密货币为中心的交易所资金，因为现货比特币ETF的受欢迎程度，该资金币于2024年初推出。有关拥有XRP，Solana，Hedera的资金的提议。和Litecoin（LTC）都在SEC之前。

What is more, crypto may also be at an inflection point in terms of acceptance among everyday investors, who have been slow to add it to traditional portfolios alongside stocks and bonds. Mainstream wealth managers such as Wells Fargo (WFC), Bank of America (BAC), and Morgan Stanley (MS) now allow financial advisors to add Bitcoin to portfolios when clients ask for it.

而且，就日常投资者的接受而言，加密货币也可能处于一个拐点，这些投资者的接受程度很慢，他们将其与股票和债券一起添加到传统投资组合中。主流财富管理人员（例如富国银行（WFC），美国银行）（BAC）和摩根士丹利（MS）（MS）现在允许财务顾问在客户要求时向投资组合添加比特币。

This week, Bank of America analysts predicted that crypto will become a mainstream asset class by 2027.

本周，美国银行分析师预测，到2027年，加密货币将成为主流资产类别。

Amid all this reason for optimism, it isn’t hard to see why Trump’s meme coins generate mixed feelings. They remind investors not just of crypto’s promise, but its susceptibility to hype and manipulation.

在所有这些乐观的原因中，不难看出为什么特朗普的模因硬币会产生混合的感觉。他们使投资者不仅提醒了加密货币的承诺，而且还提醒投资者对炒作和操纵的敏感性。

Haseeb Qureshi, managing partner at crypto fund Dragonfly, described the feelings among crypto fans on the Chopping Block podcast Wednesday.

Crypto Fund Dragonfly的执行合伙人Haseeb Qureshi周三描述了Chopping Block Podcast上的加密粉丝的感觉。

Initial reactions were mixed, he said, with some perceiving $TRUMP as “grifty” but others regarding it as a fun “homage to Trump.”

他说，最初的反应混合在一起，有些人认为特朗普是“ grifty”，但其他人则将其视为“向特朗普致敬”。

But the feeling curdled when Trump tweeted about the follow-on launch of $MELANIA.

但是，当特朗普在推特上发布了$ Melania的后续发布时，这种感觉就凝结了。

“Everybody hated this,” Qureshi said. “This was like, ‘Oh, Trump sees crypto and meme coins like for-profit universities and steak knives and casinos. This is just another way to monetize the Trump family name’…The pall that it has put over crypto is now pretty clear.”

Qureshi说：“每个人都讨厌这个。” “这就像，'哦，特朗普看到加密货币和模因硬币，例如营利性大学，牛排刀和赌场。这只是使特朗普姓氏获利的另一种方式“……它已经超过加密货币的pall现在很清楚。”