Melania Trump, the incoming First Lady of the United States, has announced the launch of her own cryptocurrency just as her husband prepares to take office.
This development closely follows the introduction of the $Trump cryptocurrency by President-elect Donald Trump. Both cryptocurrencies have experienced significant volatility in trading since their launch.
Taking to the social platform X, Melania Trump revealed on Sunday, “The Official Melania Meme is live! You can now purchase $MELANIA.”
The newly minted crypto asset, which is based on the Solana blockchain, aims to capture the growing interest in digital currencies.
Despite the buzz, the websites for both $Trump and $Melania coins carry disclaimers stating that they are “not intended to be, or the subject of, an investment opportunity or a security.”
Market analysis from CoinMarketCap shows that $Trump holds a market valuation of approximately $12bn (£9.8bn), with $Melania trailing at about $1.7bn.
Donald Trump, who had previously dismissed cryptocurrencies as a “scam,” shifted his stance during the 2024 presidential campaign by accepting them as donations—making him the first presidential candidate to do so.
His campaign promises included creating a strategic bitcoin reserve and appointing crypto-friendly financial regulators, which has led to expectations of reduced regulations for the cryptocurrency sector.
Following Trump’s election victory, the price of bitcoin soared to an all-time high, currently trading at $107,000 on the Coinbase platform. The cryptocurrency community also saw a celebratory “Crypto Ball” hosted by David Sacks, the incoming AI and crypto tsar, in Washington, DC, this Friday.
The surge in cryptocurrency values this year includes not only the Trump-associated digital coins but also others like dogecoin, which has seen substantial promotion from notable Trump supporter Elon Musk.
This contrasts sharply with the Biden administration’s approach, which has been marked by regulatory crackdowns on crypto firms over concerns such as fraud and money laundering.
