++特朗普的最新grift：建立一个加密货币帝国，同时销毁其监管机构++

在特朗普重返权力的背景下，加密货币行业正在经历前所未有的监管松动。抓住了这个机会，特朗普家族正在迅速建立相关行业，创建一个价值数十亿美元的加密货币帝国，涵盖平台建设，代币发行，基础设施控制，甚至市场操纵

Original Title: Trump’s Newest Grift: Building A Cryptocurrency Empire While Destroying Its Regulators

原始标题：特朗普的最新grift：在销毁其监管机构的同时建立一个加密货币帝国

Original Author: Molly White

原始作者：莫莉·怀特

Translation: Daisy, ChainCatcher

翻译：雏菊，链塔

Against the backdrop of Trump's return to power, the cryptocurrency industry has experienced unprecedented regulatory loosening. Seizing this opportunity, the Trump family is rapidly laying out related industries, creating a cryptocurrency empire worth billions, encompassing platform construction, token issuance, infrastructure control, and even market manipulation, with power and capital closely intertwined.

在特朗普重返权力的背景下，加密货币行业经历了前所未有的监管松动。抓住了这个机会，特朗普家族正在迅速建立相关行业，创造一个价值数十亿美元的加密货币帝国，包括平台建设，代币发行，基础设施控制，甚至是市场操纵，并紧密相互交织。

This process not only brings enormous profits but also raises serious questions about conflicts of interest and abuse of power. From platform holdings to policy interventions, from meme coin speculation to potential insider trading, the Trump family is transforming the national regulatory system into a tool for their own profit.

这个过程不仅带来了巨大的利润，而且还引发了有关利益冲突和滥用权力冲突的严重问题。从平台持有到政策干预措施，从模因硬币的推测到潜在的内幕交易，特朗普家族将国家监管制度转变为谋取利润的工具。

This article will outline the operational path of the family's cryptocurrency business, revealing how they profit in a regulatory vacuum, and explore the systemic risks triggered by this "expansion of the cryptocurrency empire."

本文将概述该家庭加密货币业务的运营道路，揭示它们如何在监管真空中获利，并探索“加密货币帝国的扩张”触发的系统风险。

Financial Backers Inject Capital, Rules Loosen: How Cryptocurrency Capital Quickly Opens Political and Business Channels

金融支持者注入资本，规则松动：加密货币资本如何迅速打开政治和商业渠道

After Trump regained power, he quickly received at least $20 million in political donations from cryptocurrency industry backers. Among them, Ripple and Andreessen Horowitz each contributed $5 million, while giants like Coinbase, Gemini, Kraken, and Circle provided millions in support.

特朗普恢复权力后，他很快获得了加密货币行业支持者至少获得2000万美元的政治捐款。其中，Ripple和Andreessen Horowitz分别贡献了500万美元，而Coinbase，Gemini，Kraken和Circle等巨人则提供了数百万的支持。

These backers soon received policy returns: at least eight enforcement cases by the U.S. Securities and Exchange Commission (SEC) against cryptocurrency companies were withdrawn or postponed. Many companies were also included in the new regulatory framework, seizing the opportunity to tailor market rules for themselves in an environment lacking regulation, with low compliance requirements and weak consumer protection.

这些支持者很快获得了政策回报：美国证券交易委员会（SEC）至少有八起针对加密货币公司的执法案件被撤回或推迟。许多公司也被包括在新的监管框架中，在缺乏监管的环境中，抓住了自己为自己量身定制市场规则的机会，遵守较低，消费者保护较弱。

The loosening of policies not only allowed donating companies to reap substantial profits but also cleared institutional barriers for the Trump family's cryptocurrency expansion, laying the groundwork for the entire business operation.

制定政策不仅允许捐赠公司获得可观的利润，而且还清除了特朗普家族的加密货币扩张的机构障碍，为整个业务运营奠定了基础。

Source: Follow the Crypto

资料来源：关注加密

World Liberty Financial: The Core Asset of Trump's Cryptocurrency Empire

世界自由金融：特朗普加密货币帝国的核心资产

In August 2024, Trump and his partners founded the cryptocurrency company World Liberty Financial. The project's co-founder, Zach Witkoff, is the son of Steven Witkoff, a long-time ally of Trump's, who currently serves as a special representative for Middle Eastern affairs and was recently appointed as Trump's personal envoy for his visit to Putin, playing a key role in facilitating the project's connections.

2024年8月，特朗普和他的合作伙伴创立了加密货币公司世界自由金融。该项目的联合创始人扎克·维科夫（Zach Witkoff）是史蒂芬·维科夫（Steven Witkoff）的儿子，史蒂芬·维科夫（Steven Witkoff）是特朗普的长期盟友，他目前担任中东事务的特别代表，最近被任命为特朗普的私人特使，他访问普京，在促进该项目的联系方面起着关键作用。

Although the platform's promotion and positioning revolve almost entirely around Trump himself, with the official website listing his son as a "DeFi visionary" and "Web3 ambassador," promising that 75% of the protocol's profits would belong to him, the family initially tried to create a "keep distance" posture. It wasn't until Trump took office again that he officially held 60% of the shares, becoming the actual controller.

尽管该平台的促销和定位几乎完全围绕着特朗普本人，但官方网站将他的儿子列为“远处的”和“ Web3大使”，但承诺，该协议的75％的利润将属于他，该家庭最初试图创造“保持距离”的姿势。直到特朗普再次上任后，他才正式持有60％的股份，成为实际的控制者。

Source: World Liberty Financial Homepage

资料来源：世界自由金融主页

Despite not having launched any trading platform, World Liberty has raised as much as $550 million, and based on the profit-sharing ratio, Trump is expected to personally profit nearly $400 million. The company claims it will create a "financial democratization" platform and issue a stablecoin USD1, which sharply contrasts with Trump's past stance of labeling stablecoins as "government-controlled financial tools."

尽管没有推出任何交易平台，但World Liberty筹集了多达5.5亿美元，并且根据利润分享比率，预计特朗普将亲自利润近4亿美元。该公司声称它将创建一个“金融民主化”平台并发行Stablecoin USD1，这与特朗普过去将Stablecoins标记为“政府控制的金融工具”的立场形成鲜明对比。

Notably, $75 million of the project comes from Sun Yuchen—a foreign cryptocurrency entrepreneur under investigation by the SEC and the Department of Justice for fraud, who cannot donate directly to Trump. Subsequently, Sun was appointed as an advisor to World Liberty, and after Trump took office, the SEC's lawsuit against him was shelved.

值得注意的是，该项目中有7500万美元来自Sun Yuchen，Sun Yuchen是SEC和司法部欺诈部调查的外国加密货币企业家，他们无法直接向特朗普捐款。随后，Sun被任命为世界自由的顾问，在特朗普上任后，SEC针对他的诉讼被搁置了。

The $WLFI token issued by World Liberty is defined as a "governance token," theoretically granting holders voting rights, but the platform team unilaterally advanced significant matters, including the issuance of stablecoins, without any votes. The token also includes several clauses to evade regulation, limiting purchases to non-U.S. citizens or "qualified investors," and is currently not tradable. Some investors bet that once SEC regulations are further weakened, these restrictions will be lifted, allowing the token to enter the secondary market for returns.

世界自由发布的$ WLFI代币被定义为“治理令牌”，理论上授予持有人的投票权，但是平台团队单方面提出的重要事项，包括发行稳定的事项，没有任何投票。令牌还包括几个条款来逃避法规，将购买限制给非美国公民或“合格的投资者”，目前不可交易。一些投资者打赌，一旦SEC法规进一步削弱，这些限制将被取消，从而使代币进入二级市场以获得回报。

Meanwhile, the project has faced widespread scrutiny for suspected insider trading. Media reports revealed that World Liberty acquired tokens from Movement Labs for about $2 million, coinciding with rumors that the latter was negotiating blockchain cooperation with the "Department of Government Efficiency" led by Musk. Both parties denied the allegations, but the market reacted strongly.

同时，该项目对可疑的内幕交易面临广泛的审查。媒体报道显示，世界自由收购了运动实验室的代币，大约有200万美元，这与谣言说，后者正在与马斯克领导的“政府效率部”谈判区块链合作。双方都否认了这些指控，但市场做出了强烈的反应。

On April 8, 2025, a memorandum released by Deputy Attorney General Todd Branch indicated that the Department of Justice officially disbanded the cryptocurrency investigation task force based on an executive order signed by Trump, terminating all related enforcement actions. This move almost severed the federal investigation path into the Trump family's cryptocurrency business.

2025年4月8日，副检察长托德分公司发布的备忘录指出，司法部根据特朗普签署的行政命令正式解散了加密货币调查工作组，终止了所有相关的执法行动。这一举动几乎使联邦调查路径进入了特朗普家族的加密货币业务。

The timing of the USD1 announcement also drew attention: on March 25, World Liberty announced it would issue the stablecoin, and just ten days later, the SEC stated that "certain types" of stablecoins are

USD1公告的时机也引起了人们的关注：3月25日，世界自由宣布将发行Stablecoin，仅仅十天后，SEC表示“某些类型”的Stablecoins是