Looking back at TRUMP calmly: Is it freedom or disorder?

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Author: Techub exclusive interpretation

Written by: Babywhale, Techub News

How long does it take for the market value to go from 0 to 80 billion? US President Donald Trump, who will take office this week, has the answer: 31 hours. Of course, although calculating market value based on the price of tokens may not be a method that everyone agrees with, we have to admit that Trump’s team has created something unprecedented in the Web3 field, and it may be difficult for others to come after it. records. But this record may not do any good except to prove Trump’s nature as a businessman who cannot afford to do anything early.

I believe everyone already knows the story of these three days. Trump tweeted the "Official Trump Meme" on As the tweet has not been deleted for a long time, and Trump's second son Eric tweeted confirmation. The market finally determined that the Meme token named TRUMP was indeed issued by the Trump family.

The subsequent development of the plot may have subverted the expectations of everyone inside and outside the Web3 industry. The total supply was 1 billion, only 20% of TRUMP was released, and the price began to soar. According to GMGN data, the token price rose from an initial price of $0.18 at 10:00 on Saturday to a high of around $80 set at around 17:00 yesterday. An impossible task accomplished over the weekend.

President 's currency issue sparks controversy

The birth of TRMUP allowed many investors to make huge profits over the weekend. Major exchanges including Binance also launched spot trading of TRUMP last night, which may also push its price to at least a stage high. one of the important driving forces.

From the perspective of making money, the release of Meme by the President of the United States is undoubtedly a recognition and support for Meme itself and even Web3. At the same time, it also rewards the on-chain Meme players who stay in front of the computer every day. In fact, the release of TRUMP obviously required a lot of work in advance, and projects or efforts such as Meteora and Moonshot all provided more or less help. Moonshot also said it gained 400,000 new users in two days, and its app once dominated the Apple Store.

But from another perspective, most viewers inside and outside the industry gave negative comments:

The Bitcoin Magazine article made a very direct criticism, stating that “This is nothing more than a pump-and-sell self-profit scam, an unethical behavior, and the investors (should be said to be ‘fans’) involved are extremely stupid. . The author of the article stated that he believed that Trump would not allow Bitcoin to compete with the US dollar, which was precisely the original purpose of Bitcoin, and suggested that if Trump truly supports Web3, he should not focus on it. Web3 is regarded as a "casino".

The SkyBridge founder believes Trump's actions are not good for the industry and supports calling them "corrupt practices."

Even a doctor with 1.5 million followers on Youtube came out and said: "Just because another president is corrupt doesn't 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 assess the impact of rocket debris on whales, sharks, etc. that fell into the sea. Even in order to refute the Animal Protection Association's belief that the noise of rocket launches would affect seals, they specially caught a seal and put headphones on it to listen to the noise to prove that there was no actual impact.

Silicon Valley technology giants have long criticized excessive regulation, which may be the main reason why Musk decided to establish the government efficiency department "DOGE". American technology giants have always advocated relaxing the regulation of technology to improve innovation capabilities. This is understandable, but weak regulation does not mean there are no rules, otherwise "freedom" will turn into "disorder."

In the author’s understanding of the lack of improvement in the large number of altcoins in this round, one very important point is that the US regulators have never made it clear what the tokens issued by these projects are? If it is a security in some sense, for example, it can represent the equity of the project, then what is the equity of the project operating company? If there is no way to define the actual meaning of these tokens, it will be difficult for large funds to be truly willing to invest based on the value of the project itself.

On the other hand, should the number of tokens held by the project team be disclosed regularly? Should the foundation’s financial status be disclosed in the same way as its financial reports? Should the project party make an announcement when selling the tokens it holds? Should exchanges, market makers, and even some so-called large players’ possible market manipulation be regulated?

These are some very basic questions, but now it seems that they also find this is an unsolvable problem or they are unwilling to solve it. After all, a market with no supervision other than pure fraud is the most vulnerable to capital plunder. Great tool, like early financial markets.

In the current market, the actual definition of altcoins is unclear, and the price is completely unable to be linked to the value of the project itself. Since this is the case, there is nothing wrong with choosing on-chain PvP as a retail investor.

There is nothing wrong with Trump's act of issuing coins. If he can set an example, clarify many things that are currently ambiguous in the currency circle, or make everything transparent, then there is nothing wrong with issuing coins. After all, there is no law in the United States that prohibits the issuance of coins. The act itself. But the problem lies in this seemingly "random" Meme token issuance behavior that seems to tell everyone: you can all issue coins at will.

No rules required, no transparency required, just a brief description of your plans, and even a disclaimer that says no class action lawsuits will be filed. In this way, there seems to be no problem with using IP to issue tokens and then rug them, and there is no law prohibiting the sale of tokens held by the token issuer.

It is worth noting that this was an illegal act considered illegal by the previous SEC, such as misleading investors, but it was broken by Trump's "leading by example" behavior.

Of course, it is too early to draw conclusions for the next four years just by issuing a Meme token. Web3 should not be restricted by too strict supervision, but it should also define some basic concepts to provide more funds for projects. Lay a solid foundation for investing based on its own value. Meme is one of the unique cultures of Web3, but it is not the whole of Web3, or even the most important part.