Crypto executives fear investor backlash over Trump memecoins
加密货币高管担心投资者对特朗普迷因币的反弹

The memecoins launched by President Donald Trump and his wife days before his inauguration are damaging the industry’s reputation and risk a backlash from investors, crypto executives have warned.
特朗普总统和他的妻子在他就职前几天推出的迷因币正在损害该行业的声誉，并可能引发投资者的反弹，加密货币高管们警告说。

$TRUMP was launched by the president on Friday evening in the US and was followed on Sunday by $MELANIA. The total nominal value of both tokens initially surged over the weekend, with the president’s reaching $14.5bn and Melania’s hitting nearly $3bn.
$TRUMP 于周五晚上在美国由总统推出，随后在周日推出了$MELANIA。这两个代币的总名义价值在周末初期激增，总统的达到 145 亿美元，梅拉尼亚的接近 30 亿美元。

But they have since lost more than half of their value, leading to accusations of conflicts of interest and concerns that thousands of retail investors were sucked in to trading tokens even more volatile than bitcoin.
但他们此后失去了超过一半的价值，这导致了利益冲突的指控以及对成千上万的散户投资者被吸引到交易比比特币更具波动性的代币的担忧。

“Call me old fashioned but I think presidents should focus on running the country,” said Nic Carter, founding partner at crypto venture capital firm Castle Island Ventures and a Trump supporter.
“叫我老派，但我认为总统应该专注于治理国家，”加密风险投资公司 Castle Island Ventures 的创始合伙人、特朗普支持者 Nic Carter 说道。

“Not to mention the obvious [conflict of interest] given the fact that Trump can set crypto policy,” he added.
“更不用说显而易见的[利益冲突]，因为特朗普可以制定加密货币政策，”他补充道。

One major Silicon Valley investor at the World Economic Forum in Davos called Tesla boss Elon Musk and Trump “the new Crassus and Caesar” — referring to the Roman political figures who formed an alliance to further their own interests.
在达沃斯的世界经济论坛上，一位主要的硅谷投资者称特斯拉首席执行官埃隆·马斯克和特朗普为“新的克拉苏斯和凯撒”——指的是为了自身利益而结成联盟的罗马政治人物。

“We are seeing real ‘End of Empire’ stuff in the US,” the person added, pointing to the creation of billions of dollars in wealth overnight. “Human nature never changes.”
“我们在美国看到真正的‘帝国末日’现象，”那个人补充道，指向一夜之间创造的数十亿美元财富。“人性从未改变。”

Much of the trading activity in the 200mn Trump coins available has been centred not in the US but on little known Asian-based exchanges such as BiKing, Gate.io and Megabit, according to data from CoinMarketCap.
根据 CoinMarketCap 的数据，200 万枚特朗普币的交易活动大部分集中在一些鲜为人知的亚洲交易所，如 BiKing、Gate.io 和 Megabit，而不是在美国。

Memecoins have no cash flow, business model or practical use underpinning their valuations. Their value is derived from their popularity, which is often as fleeting as the memes they represent.
山寨币没有现金流、商业模型或实际用途来支撑其估值。它们的价值源于其受欢迎程度，这种受欢迎程度往往和它们所代表的表情包一样短暂。

“The Trump Memes are intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol “$TRUMP”,” the coin’s website states.
“特朗普表情包旨在作为对象征“$TRUMP”的理想和信念的支持和参与的表达，”该币种的网站声明。

The Trumps’ coin launches come after the president lent his enthusiastic support for crypto during his election campaign. He promised a more industry-friendly regime for companies, after executives faced a regulatory crackdown under the Biden administration.
特朗普的硬币发行是在总统在竞选期间对加密货币表示热情支持之后进行的。他承诺为公司提供一个更友好的行业环境，此前高管们在拜登政府下面临监管打压。

But many in the crypto industry are concerned that the launches threaten to further damage the reputation of a sector trying to rebuild trust after a series of high profile frauds and collapses.
但许多加密行业的人士担心，这些新产品的推出可能会进一步损害这个试图在一系列高调欺诈和崩溃后重建信任的行业的声誉。

Some lawmakers meanwhile worry that retail traders could lose large sums of money.
一些立法者担心散户交易者可能会损失大量资金。

“This meme coin represents the worst of crypto,” said Maxine Waters, Democrat congresswoman and member of the US House Financial Services Committee. “Trump has created a way to circumvent national security and anti-corruption laws, allowing interested parties to anonymously transfer money to him and his inner circle.”
“这个迷因币代表了加密货币的最糟糕一面，”民主党国会议员、美国众议院金融服务委员会成员马克辛·沃特斯说。“特朗普创造了一种规避国家安全和反腐败法律的方法，使相关方能够匿名向他和他的核心圈子转移资金。”

“His economic interest is for sale,” said Oskar Åslund, chief strategy officer at AKJ, a crypto hedge fund brokerage. “There are no checks and balances here.”
“他的经济利益正在出售，”AKJ 的首席战略官 Oskar Åslund 说道，这是一家加密对冲基金经纪公司。“这里没有制衡。”

Gettrumpmemes.com did not respond to a request for comment.
Gettrumpmemes.com 未对评论请求作出回应。

“I believe it hurts the industry,” Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director, said during a panel in Davos on Tuesday. “I think it’s going to slow down some people in the regulatory process,” added Scaramucci, whose firm runs a digital assets fund.
“我相信这会伤害到行业，”SkyBridge Capital 的创始人、前白宫通讯主任安东尼·斯卡拉穆奇在周二的达沃斯小组讨论中表示。“我认为这会让一些人在监管过程中放慢速度，”斯卡拉穆奇补充道，他的公司运营着一个数字资产基金。

The world’s most popular memecoins are tokens that refer to viral internet moments and characters — such as Dogecoin, representing a Shibu Inu dog; Pepe, representing a comic green frog; and Fartcoin.
世界上最受欢迎的迷因币是指代病毒式互联网时刻和角色的代币——例如，代表柴犬的狗狗币；代表漫画绿色青蛙的佩佩；以及放屁币。

About 80 per cent of Trump’s tokens are held by CIC Digital, a company affiliated with the Trump Organization, and a CIC co-owned business called Fight Fight Fight LLC, according to the token’s website — a reference to the attempt to assassinate Trump last summer. The companies will also receive a share of trading revenues related to the Trump token.
根据该代币的网站，特朗普的代币约 80%由与特朗普组织相关的 CIC Digital 公司和一家名为 Fight Fight Fight LLC 的 CIC 共同拥有的企业持有，这一名称提及了去年夏天对特朗普的刺杀企图。这些公司还将获得与特朗普代币相关的交易收入的一部分。

The tokens held by insiders will start to be unlocked for sale over the next three to 12 months.
内部人士持有的代币将在接下来的三到十二个月内开始解锁出售。

Following Trump’s lead, Lorenzo Sewell, a Detroit pastor who spoke during the president’s inauguration, announced the launch of his own memecoin later that day.
跟随特朗普的步伐，底特律牧师洛伦佐·苏厄尔在总统就职典礼上发言后，宣布当天晚些时候推出自己的记忆币。

“I need you to do me a favour and go and get that coin in order for us to accomplish the vision that God has called us to do on earth,” he said in a video online. 
“我需要你帮我一个忙，去拿那枚硬币，以便我们能够完成上帝在地球上呼召我们去做的愿景，”他在网上的视频中说道。

While Trump’s promises of crypto-friendly regulations were roundly welcomed by the industry, executives doubt the president’s enthusiasm for memecoins will benefit them in the long run.
尽管特朗普对加密友好监管的承诺受到行业的热烈欢迎，但高管们怀疑总统对迷因币的热情在长期内会对他们有利。

“The immediate effect has been draining liquidity and attention away from legitimate projects working on real use cases that the industry desperately needs to prove to the world in 2025,” said Serge-Raymond Nzabandora, corporate development and finance manager at Yield Guild Games, a blockchain company.
“立即的影响是将流动性和关注度从那些正在开发行业迫切需要在 2025 年向世界证明的真实用例的合法项目中抽离，”Yield Guild Games 的企业发展和财务经理 Serge-Raymond Nzabandora 说道。

Memecoins “ultimately will cost retail investors given its zero sum nature. It is unfortunately ironic as this is what [former Securities and Exchange Commission chair] Gary Gensler was trying to avoid,” he added.
“最终，迷因币将使散户投资者付出代价，因为它的零和性质。这不幸地具有讽刺意味，因为这正是[前证券交易委员会主席]加里·根斯勒试图避免的，”他补充道。

Trump has vowed to “end persecution” of the crypto industry and has nominated crypto advocate Paul Atkins to run the regulator, leading many to think that scrutiny of Trump’s own coins is unlikely.
特朗普誓言要“结束”对加密行业的迫害，并提名加密倡导者保罗·阿特金斯担任监管机构负责人，这让许多人认为对特朗普自己币种的审查不太可能。

In an apparent attempt to stave off potential lawsuits, terms listed on the Trump memecoin website state that users “agree that you will not bring, join or participate in any class action lawsuit as to any claim, dispute or controversy that you may have”.
为了明显避免潜在的诉讼，特朗普纪念币网站上列出的条款声明用户“同意您不会就您可能拥有的任何索赔、争议或争论提起、加入或参与任何集体诉讼”。

Haliey Welch, who created a memecoin called “Hawk Tuah” based on a viral internet moment, was sued late last year after investors lost money in her token. Last month, she said the lawsuit was ongoing and she was “fully co-operating” with lawyers.
哈莉·韦尔奇（Haliey Welch）创建了一种名为“Hawk Tuah”的迷因币，该币基于一个病毒式传播的网络时刻。去年晚些时候，在投资者在她的代币中亏损后，她被起诉。上个月，她表示诉讼仍在进行中，并且她“全力配合”律师。

“There’s no protection for retail investors in this,” Åslund added. “He’s kind of above the law which is obviously also a scary thing.”
“在这方面，散户投资者没有保护，”Åslund 补充道。“他有点超越法律，这显然也是一件可怕的事情。”