Melania Trump is ushering in a second Trump-family crypto wave by introducing a Solana-backed coin on the eve of her husband's swearing-in. The rollout comes shortly after President-elect Donald Trump's own token launch, fueling speculation about broader blockchain policies under the new administration.
On the eve of her husband's inauguration as president of the United States, Melania Trump, who will soon become the U.S. First Lady, has introduced a cryptocurrency.
Following the creation of the $Trump cryptocurrency, President-elect Donald Trump has made the announcement. The value of both coins has increased, although the market has been erratic.
"The Melania Meme, the Official Site, is now online! In a post that she made on the social site X on Sunday, she stated that "you can buy $MELANIA today."
The "Official Melania Meme" is described as a crypto asset that was developed and is being monitored on the Solana blockchain, according to the website for the meme.
They were not meant to be, nor were they intended to be the topic of an investment opportunity or a security, according to the disclaimers that were posted on the websites of both the $50 Trump and $50 Melania coins.
According to the website CoinMarketCap, the entire market price of $Trump is over $12 billion (£9.8 billion), whereas the valuation of $Melania stands at approximately $1.7 billion.
In the past, Trump had referred to cryptocurrency as a "scam," but during the election campaign of 2024, he became the first presidential candidate to take donations in the form of digital assets.
In addition, while he was campaigning, Trump stated that he would establish a strategic bitcoin stockpile and pick financial regulators who would take a more favorable position toward digital assets.
This gave rise to the anticipation that he will reduce the regulations that were placed on the cryptocurrency business, the BBC reports.
Immediately following the election of Donald Trump, the value of bitcoin skyrocketed to an all-time high and is currently trading at around $107,000, as reported by the cryptocurrency trading platform Coinbase.
David Sacks, who is expected to become the tsar of artificial intelligence (AI) and cryptocurrency, hosted a "Crypto Ball" in Washington, District of Columbia, on Friday.
Dogecoin, which has been championed by Elon Musk, a prominent supporter of Donald Trump, has also had a significant increase in value this year. Other cryptocurrencies have also seen significant increases.
While President Joe Biden was in office, officials took action against cryptocurrency companies by filing lawsuits against exchanges. They did this because they were concerned about fraud and money laundering.
