唐纳德·特朗普（Donald Trump）的媒体公司TMTG正在筹集3B美元以投资比特币

唐纳德·特朗普（Donald Trump）从来没有回避过大动作，但他的最新加密戏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.

唐纳德·特朗普（Donald Trump）从来没有回避大动作，但他最新的加密戏剧不止几个脑袋。据报道，他的媒体公司特朗普媒体与技术集团（TMTG）的目标是筹集30亿美元投资比特币，并可能推出加密ETF。

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

投资的规模是一回事。时机和潜在的利益冲突？那是另一个。

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.

根据《金融时报》观看的内部计划，TMTG试图通过可转换债券获得20亿美元的新股权，再增加10亿美元。该计划是使用该战箱购买比特币，甚至可能推出以加密货币为中心的交易所基金。这将使特朗普的媒体集团与Mic​​roStrategy这样的公司，使用Crypto来增强其财务状况。

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.

加密负责人也将认识到表演技巧。该公告定于拉斯维加斯举行的一次重大加密会议，特朗普的儿子小唐纳德（Donald Jr.）和埃里克（Eric）预计将与参议员JD Vance一起出现。如果听起来像是一场伪装成技术球场的广告集会，那可能并不遥远。

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.

道德专家并不激动。主要关心的是，特朗普再次竞选总统，是否正在模糊政治与利润之间的界限。如果TMTG开始对比特币进行大量投资，而特朗普则对财务和监管决策进行了影响，那么利益冲突的潜力就很难忽略。

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.

这也不只是猜测。像参议员杰夫·默克利（Jeff Merkley）这样的立法者已经提出了法案，以防止政府官员及其家人在上任时兑现加密货币。这样的举动可以进一步推动这些建议。

Then There’s the $TRUMP Token

然后是特朗普令牌

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.

如果没有提及$特朗普令牌，您就不能谈论特朗普和加密货币。这一模因在今年早些时候获得了吸引力，与前品牌，基调和可能拥有所有权的前总统有关。

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.

报道表明，硬币的很大一部分是由与特朗普圈子有关的钱包持有的。这引发了人们的担忧，即可以用来影响或从市场波动中获利，尤其是当特朗普继续与代币公开互动时。

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.

政治家表达对加密货币的支持是一回事。这是一个可以很容易被炒作或倾倒的投机资产捆绑在一起的。

Trump’s Crypto U-Turn

特朗普的加密掉头

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.

这整个事情也标志着特朗普早期的立场发生了很大的转变。在他的第一个学期中，他并不是完全亲甲币的。实际上，他称其为“基于稀薄的空气”。但是现在，随着加密情绪的改变和选民的兴趣，他倾向于参加。他的政府甚至在今年早些时候提出了战略性的比特币储备，这表明了一个新的方向。

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

无论这个枢纽是真实的还是战略性的，它都表明特朗普正在关注加密货币人群。

What Comes Next?

接下来是什么？

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的计划仍处于筹款阶段，因此这不是一笔交易。但是问题已经在这里。如果特朗普的媒体集团在竞选办公室时成为主要的加密投资者，或者再次进入白宫，请期望审查继续建造。

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

加密可能是分散的，但是在这种情况下，所有人都注视着一个人。