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Melania Trump launches her own cryptocurrency | Melania Trump launches her own cryptocurrency |
(about 2 hours later) | |
Incoming first lady Melania Trump has launched a cryptocurrency on the eve of her husband's inauguration as US president. | Incoming first lady Melania Trump has launched a cryptocurrency on the eve of her husband's inauguration as US president. |
The announcement comes a day after President-elect Donald Trump launched the $Trump cryptocurrency. Both coins have risen but have seen volatile trade. | The announcement comes a day after President-elect Donald Trump launched the $Trump cryptocurrency. Both coins have risen but have seen volatile trade. |
"The Official Melania Meme is live! You can buy $MELANIA now," she posted on the social platform X, external on Sunday. | "The Official Melania Meme is live! You can buy $MELANIA now," she posted on the social platform X, external on Sunday. |
The website for the "Official Melania Meme", external says it is a crypto asset created and tracked on the Solana blockchain. | The website for the "Official Melania Meme", external says it is a crypto asset created and tracked on the Solana blockchain. |
Disclaimers on the websites of both the $Trump and $Melania coins said they were "not intended to be, or the subject of" an investment opportunity or a security. | Disclaimers on the websites of both the $Trump and $Melania coins said they were "not intended to be, or the subject of" an investment opportunity or a security. |
According to the CoinMarketCap website, $Trump has a total market valuation of about $12bn (£9.8bn), while $Melania's stands at around $1.7bn. | |
Trump had previously called crypto a "scam" but during the 2024 election campaign became the first presidential candidate to accept digital assets as donations. | Trump had previously called crypto a "scam" but during the 2024 election campaign became the first presidential candidate to accept digital assets as donations. |
On the campaign trail, Trump also said he would create a strategic bitcoin stockpile and appoint financial regulators that take a more positive stance towards digital assets. | On the campaign trail, Trump also said he would create a strategic bitcoin stockpile and appoint financial regulators that take a more positive stance towards digital assets. |
That spurred expectations that he would strip back regulations on the crypto industry. | That spurred expectations that he would strip back regulations on the crypto industry. |
In the wake of Trump's victory, bitcoin jumped to a record high is currently trading at $140,000, according to crypto trading platform Coinbase. | In the wake of Trump's victory, bitcoin jumped to a record high is currently trading at $140,000, according to crypto trading platform Coinbase. |
On Friday, the incoming artificial intelligence (AI) and crypto tsar David Sacks held a "Crypto Ball" in Washington, DC. | On Friday, the incoming artificial intelligence (AI) and crypto tsar David Sacks held a "Crypto Ball" in Washington, DC. |
Other cryptocurrencies, including dogecoin - which has been promoted by high-profile Trump supporter Elon Musk - have also risen sharply this year. | Other cryptocurrencies, including dogecoin - which has been promoted by high-profile Trump supporter Elon Musk - have also risen sharply this year. |
Under President Joe Biden, regulators cited concerns about fraud and money laundering as they cracked down on crypto companies by suing exchanges. | Under President Joe Biden, regulators cited concerns about fraud and money laundering as they cracked down on crypto companies by suing exchanges. |