Written by Lisa Murimi
Incoming First Lady Melania Trump has unveiled a new cryptocurrency, $Melania, just before her husband Donald Trump’s inauguration as U.S. president.Â
The launch follows the debut of $Trump, a cryptocurrency introduced by the president-elect a day earlier.
Both digital coins, tracked on the Solana blockchain, have experienced volatile trading since their introduction.
“The Official Melania Meme is live! You can buy $MELANIA now,” Melania announced Sunday on the social media platform X.
The $Melania website emphasizes that the coin is not an investment vehicle or security, a disclaimer also featured on the $Trump website.
Currently, $Trump boasts a market valuation of approximately $12 billion, while $Melania is valued at $1.7 billion, according to CoinMarketCap.
The launches mark a shift for Donald Trump, who once dismissed cryptocurrency as a “scam.”
During his 2024 campaign, he embraced digital assets, accepting them as donations and pledging to create a strategic bitcoin stockpile.
This pro-crypto stance has driven expectations of deregulation in the crypto industry, fueling a rally in bitcoin, now trading at a record $140,000.
Other cryptocurrencies, including Elon Musk-backed dogecoin, have also surged.
The administration’s AI and crypto tsar, David Sacks, hosted a “Crypto Ball” in Washington, D.C., signaling a potential pivot in U.S. cryptocurrency policy.Written by Lisa Murimi
