Washington DC: On the eve of her husband’s inauguration, incoming First Lady Melania Trump launched the $MELANIA cryptocurrency, just one day after President-elect Donald Trump introduced his own $Trump coin.
Both coins have experienced volatile trading but have seen significant gains. Melania announced the launch on the social platform X, posting, “The Official Melania Meme is live! You can buy $MELANIA now.”
The $MELANIA coin is a crypto asset created and tracked on the Solana blockchain, with a market valuation of around $1.3bn, while $Trump’s coin is valued at approximately $8.7bn. Both coins include disclaimers stating they are “not intended to be, or the subject of” an investment opportunity or security.
Although Trump had previously called cryptocurrency a “scam,” during the 2024 election campaign, he became the first presidential candidate to accept digital assets as donations.
The Official Melania Meme is live!
You can buy $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
Trump also voiced plans to create a strategic bitcoin stockpile and appoint financial regulators who would take a more positive stance towards digital assets, spurring expectations of regulatory rollbacks on the crypto industry.
Following Trump’s victory, bitcoin soared to a record high of $140,000, and other cryptocurrencies, such as dogecoin—which has been promoted by high-profile Trump supporter Elon Musk—have also surged this year.
Meanwhile, under President Joe Biden’s administration, regulators have cracked down on the crypto industry, citing concerns about fraud and money laundering.
Additionally, on Friday, January17th, David Sacks, the incoming AI and crypto tsar, hosted a “Crypto Ball” in Washington, DC, further highlighting the growing prominence of digital assets.
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