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Written by: Babywhale, Techub News
How long does it take to have a market value of 0 to 80 billion?US President Trump, who will take office this week, gave the answer: 31 hours.Of course, although calculating market value using token prices may not be a way that everyone agrees, it has to be admitted that Trump’s team has created a person who has never been before in the Web3 field, and it may be difficult to come afterwards.record.But this record may not be any benefit other than proving Trump’s businessman nature, which is profitable and cannot afford to get up early.
I believe everyone has already understood the story of these three days. Trump posted a tweet on X to release the “Official Trump Meme” and began to rise amid doubts about “X may be stolen”, butWith the push not being deleted for a long time, and Trump’s second son Eric’s tweet confirmation.The market finally determined that the Meme token called TRUMP was indeed issued by the Trump family.
The subsequent plot development may have subverted the expectations of everyone inside and outside the Web3 industry, with a total of 1 billion pieces, only 20% of TRUMP being released, and prices began to soar.According to GMGN data, the token price rose from $0.18 at 10:00 on Saturday to a high of around $80 at around 17:00 yesterday.Completed an impossible task on weekends.
The president’s issuance of coins has caused controversy
The birth of TRMUP has made many investors profitable on the weekend. Major exchanges including Binance also launched TRUMP spot trading last night, which may also push its price to at least a temporary high.One of the important driving forces.
From the perspective of making money, the release of Meme by the US President is undoubtedly a recognition and support for Meme itself and even Web3, and also rewards Meme players who stay in front of the computer every day.In fact, the release of TRUMP obviously did a lot of work in advance, and projects or work such as Meteora, Moonshot, etc. have more or less helped.Moonshot also said it had gained 400,000 new users in two days, and its app once dominated the Apple Store.
But from another perspective, most spectators inside and outside the industry gave negative comments on this:
Bitcoin Magazine’s article made a very direct criticism, saying that “this is just a self-profit scam that sells high and sells out, an immoral behavior, and the investors involved (which should be said to be “fans”) are extremely stupid.The author of the article said it believes that Trump will not allow Bitcoin to compete with the US dollar, which is exactly the original meaning of Bitcoin, and suggests that if Trump truly supports Web3, he should not focus on theWeb3 is considered a “casino”.
SkyBridge founders believe Trump’s actions are not good for the industry and support calling it “corruption.”
Even a doctor with 1.5 million followers on Youtube came forward and said, “The corruption of another president does not mean you can do the same thing.”
Technology should be free, but not disorderly
Musk once joked in a show that the Animal Protection Association came to him and asked SpaceX to evaluate the possible impact of rocket wreckage on whales, sharks, etc. that fell into the sea.Even in order to refute the Animal Conservation Association’s belief that the noise from rocket launches would affect seals, they also specially caught a seal and put headphones on it to listen to the noise to prove that it actually has no effect.
Silicon Valley technology giants have long complained about over-regulation, which may be the main reason why Musk decided to establish a government efficiency department “D.O.G.E”.It is understandable that American technology giants have always advocated relaxing supervision of technology to improve innovation capabilities, but weak supervision does not mean that there is no rules, otherwise “freedom” will become “disorder”.
In my understanding of the lack of improvement in this round of altcoins, there is a very important point that the US regulators have never clarified what tokens are issued by these projects?If it is a securities in a sense, for example, which can represent the equity of the project, then what is the equity of the project operation company?If there is no way to define the actual significance of these tokens, it is difficult for large funds to truly be willing to invest based on the value of the project itself.
On the other hand, should the number of tokens held by the project party be announced regularly?Should the foundation’s financial status be publicized like financial reports?Should the project party make public announcement when selling the tokens it holds?Should exchanges, market makers and even some so-called big players’ possible market manipulation behavior be regulated?
These are some very basic problems, but now it seems that they don’t know if they have found that this is an unsolvable problem or are unwilling to solve it. After all, a market without supervision except pure fraud is the most important thing for capital plunderGood tools, like early financial markets.
In the current market, the actual definition of altcoins is unclear, and the price cannot be linked to the value of the project itself. Since this is the case, it is not a problem to choose PvP on the chain as a retail investor.
There is no problem with Trump’s behavior of issuing coins. If he can set an example and clarify many ambiguous things in the currency circle, or make everything transparent, then it is understandable to issue coins. After all, there is no law in the United States that prohibits issuing coins.This behavior itself.But the problem lies in the fact that this seemingly “random” Meme token issuance behavior seems to tell everyone: You can issue coins at will.
No rules or transparency is required. Simply talk about your own plans, and you can even state in the disclaimer that class action lawsuits cannot be filed.In this way, there seems to be no problem with using IP to issue coins and Rug, and there is no law prohibiting the sale of tokens held by the token issuer itself.
It is worth noting that this is the illegal act considered by the previous SEC, such as misleading investors, but it was broken by Trump’s “leading by example”.
Of course, it is too early to make a conclusion for the next four years by issuing a Meme token alone. Web3 should not be restricted by overly strict regulation, but it should also define some basic concepts to base more funds on projects.Lay a solid foundation for investing in its own value.Meme is one of the unique cultures of Web3, but it is not the whole, or even the most important part of Web3.
