唐納德·特朗普（Donald Trump）的媒體公司TMTG正在籌集3B美元以投資比特幣

唐納德·特朗普（Donald Trump）從來沒有迴避過大動作，但他的最新加密戲正在引起更多的眉毛。

Donald Trump is never one to shy away from big moves, but his latest crypto play has more than a few heads turning. His media company, Trump Media & Technology Group (TMTG), is reportedly aiming to raise $3 billion to invest in Bitcoin and possibly launch a crypto ETF.

唐納德·特朗普（Donald Trump）從來沒有迴避大動作，但他最新的加密戲劇不止幾個腦袋。據報導，他的媒體公司特朗普媒體與技術集團（TMTG）的目標是籌集30億美元投資比特幣，並可能推出加密ETF。

The size of the investment is one thing. The timing and potential conflict of interest? That’s another.

投資的規模是一回事。時機和潛在的利益衝突？那是另一個。

According to internal plans viewed by the Financial Times, TMTG is seeking to pull in $2 billion in new equity and another $1 billion through a convertible bond. The plan is to use that war chest to buy Bitcoin and maybe even launch a crypto-focused exchange-traded fund. This would put Trump’s media group in the same arena as firms like MicroStrategy, companies using crypto to beef up their financial profiles.

根據《金融時報》觀看的內部計劃，TMTG試圖通過可轉換債券獲得20億美元的新股權，再增加10億美元。該計劃是使用該戰箱購買比特幣，甚至可能推出以加密貨幣為中心的交易所基金。這將使特朗普的媒體集團與Mic​​roStrategy這樣的公司，使用Crypto來增強其財務狀況。

Crypto heads will also recognize the showmanship. The announcement is set for a major crypto conference in Las Vegas, where Trump’s sons, Donald Jr. and Eric, are expected to appear alongside Senator JD Vance. If it sounds like a campaign rally disguised as a tech pitch, that might not be far off.

加密負責人也將認識到表演技巧。該公告定於拉斯維加斯舉行的一次重大加密會議，特朗普的兒子小唐納德（Donald Jr.）和埃里克（Eric）預計將與參議員JD Vance一起出現。如果聽起來像是一場偽裝成技術球場的廣告集會，那可能並不遙遠。

Ethics experts are less than thrilled. The main concern is whether Trump, who’s running for president again, is blurring the line between politics and profit. If TMTG starts investing heavily in Bitcoin, while Trump holds sway over financial and regulatory decisions, the potential for conflicts of interest becomes hard to ignore.

道德專家並不激動。主要關心的是，特朗普再次競選總統，是否正在模糊政治與利潤之間的界限。如果TMTG開始對比特幣進行大量投資，而特朗普則對財務和監管決策進行了影響，那麼利益衝突的潛力就很難忽略。

It’s not just speculation either. Lawmakers like Senator Jeff Merkley have already introduced bills to prevent government officials and their families from cashing in on crypto while in office. Moves like this could push those proposals further.

這也不只是猜測。像參議員傑夫·默克利（Jeff Merkley）這樣的立法者已經提出了法案，以防止政府官員及其家人在上任時兌現加密貨幣。這樣的舉動可以進一步推動這些建議。

Then There’s the $TRUMP Token

然後是特朗普令牌

You can’t talk about Trump and crypto without mentioning the $TRUMP token. This memecoin, which gained traction earlier this year, is tied to the former president in branding, tone, and, potentially, ownership.

如果沒有提及$特朗普令牌，您就不能談論特朗普和加密貨幣。這一模因在今年早些時候獲得了吸引力，與前品牌，基調和可能擁有所有權的前總統有關。

Reports suggest a significant portion of the coin is held by wallets connected to Trump’s circle. That’s sparked concerns that it could be used to influence or profit from market swings, especially if Trump continues to publicly engage with the token.

報導表明，硬幣的很大一部分是由與特朗普圈子有關的錢包持有的。這引發了人們的擔憂，即可以用來影響或從市場波動中獲利，尤其是當特朗普繼續與代幣公開互動時。

It’s one thing for a politician to express support for crypto. It’s another to be tied, financially or publicly, to a speculative asset that can be easily hyped or dumped.

政治家表達對加密貨幣的支持是一回事。這是一個可以很容易被炒作或傾倒的投機資產捆綁在一起的。

Trump’s Crypto U-Turn

特朗普的加密掉頭

This whole thing also marks a pretty big shift from Trump’s earlier stance. During his first term, he wasn’t exactly pro-Bitcoin. In fact, he called it “based on thin air.” But now, with crypto sentiment changing and voter interest rising, he’s leaning in. His administration even proposed a Strategic Bitcoin Reserve earlier this year, signaling a new direction.

這整個事情也標誌著特朗普早期的立場發生了很大的轉變。在他的第一個學期中，他並不是完全親甲幣的。實際上，他稱其為“基於稀薄的空氣”。但是現在，隨著加密情緒的改變和選民的興趣，他傾向於參加。他的政府甚至在今年早些時候提出了戰略性的比特幣儲備金，這表明了一個新的方向。

Whether this pivot is genuine or strategic, it shows Trump is paying attention to the crypto crowd.

無論這個樞紐是真實的還是戰略性的，它都表明特朗普正在關注加密貨幣人群。

What Comes Next?

接下來是什麼？

TMTG’s plans are still in the fundraising stage, so it’s not a done deal. But the questions are already here. If Trump’s media group becomes a major crypto investor while he runs for office, or ends up in the White House again, expect the scrutiny to keep building.

TMTG的計劃仍處於籌款階段，因此這不是一筆交易。但是問題已經在這裡。如果特朗普的媒體集團在競選辦公室時成為主要的加密投資者，或者再次進入白宮，請期望審查繼續建造。

Crypto might be decentralized, but in this case, all eyes are on one man.

加密可能是分散的，但是在這種情況下，所有人都注視著一個人。