Melania Trump unveiled her own cryptocurrency, $MELANIA, just before her husband Donald Trump’s inauguration as U.S. president.
This announcement followed Donald Trump launching his $TRUMP cryptocurrency, which gained attention alongside volatile market activity.
Launch Details and Cryptocurrency Features
“The Official Melania Meme is live! You can buy $MELANIA now,” Melania posted on the platform X on Sunday. According to its website, $MELANIA is a crypto asset created and managed on the Solana blockchain.
Disclaimers on the $TRUMP and $MELANIA websites clarify that these coins are neither investments nor securities.
Reports from CoinMarketCap reveal $TRUMP has a market valuation of $12 billion (£9.8 billion), while $MELANIA’s stands at $1.7 billion.
Broader Crypto Trends Under Trump
Trump previously labeled cryptocurrency a “scam.” However, during his 2024 campaign, he embraced digital assets, becoming the first presidential candidate to accept them as donations.
He also promised to establish a bitcoin reserve and appoint regulators who favor cryptocurrency, raising hopes for reduced regulations in the industry.
Bitcoin surged to a record high following Trump’s election victory, currently trading at about $107,000 on Coinbase.
On Friday, the incoming AI and crypto advisor David Sacks hosted a “Crypto Ball” in Washington, D.C., adding to the excitement.
High-profile Trump supporter Elon Musk’s promotion of dogecoin and other cryptocurrencies has also driven significant price increases this year.
Under Joe Biden, regulators cracked down on crypto, citing concerns about fraud and money laundering. However, Trump’s policies might signal a more favorable approach for the industry.