Incoming first lady Melania Trump launched a cryptocurrency on the eve of her husband’s inauguration as US president.
The announcement comes after President-elect Donald Trump launched the cryptocurrency $Trump. Both coins rose, but trading became volatile.
“The official Melania meme is now available! You can buy $Melania now,” she posted on social platform X on Sunday.
Disclaimers on the websites for $Trump and $Melania coins say they are “not intended for nor are they intended to represent” investment opportunities or securities.
Disclaimers on the websites for $Trump and $Melania coins say they are “not intended for nor are they intended to represent” investment opportunities or securities.
According to the CoinMarketCap website, Trump’s total market valuation is around $12bn (£9.8bn), while first lady Melania Trump’s market valuation is around $1.7bn.
Trump, who previously called cryptocurrencies a “fraud,” became the first presidential candidate to receive digital assets as donations during the 2024 campaign.
During the election campaign, his family launched a cryptocurrency company called World Liberty Financial, which aims to lead a “financial revolution by dismantling the stranglehold of traditional financial institutions,” and sells cryptocurrencies. are also going there.
The new Trump Coin was launched by CIC Digital LLC, an affiliate of the Trump Organization. This is related to previous sales of collectible cryptocurrency NFTs that were launched in 2022 and made millions of dollars, but have since dramatically declined in value to their owners.
According to CoinGecko, NFTs once sold for more than $1,000, but their value has since fallen to around $300.
During his campaign, President Trump also said he would create a strategic Bitcoin stockpile and appoint financial regulators to take a more aggressive stance on digital assets.
This raised expectations that he would deregulate the cryptocurrency industry.
Following President Trump’s victory, Bitcoin soared to an all-time high and is currently trading at about $107,000, according to cryptocurrency trading platform Coinbase.
On Friday, the next artificial intelligence (AI) and crypto czar, David Sachs, hosted a “Crypto Ball” in Washington, DC.
Other cryptocurrencies have also soared this year, including Dogecoin, which is promoted by prominent Trump supporter Elon Musk.
Under President Joe Biden, regulators have cracked down on crypto companies by suing exchanges, citing concerns about fraud and money laundering.
Dogecoin’s growth has led to a significant increase in interest in so-called “meme coins”. Meme coins are usually linked to viral trends or moments on the internet.
First Lady Melania’s meme coins were provided by her own corporate company, MKT World LLC, which she has used for various businesses since 2021, including selling portraits of her as first lady. It’s a company.
Meme coins can be created and launched by anyone, and there are thousands of them.
Due to their profile and social media presence, Trump Coin and Melania Coin are already among the top 100 coins in terms of value, with Melania Coin now worth more than AI entrepreneur Sam Altman’s World Coin.
However, it is still quite behind compared to Fartcoin.
