Melania Trump launched cryptocurrency on the eve of the inauguration
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A disclaimer on the website of both the $Trump and $Melania coins said they are “not intended to be, or subject to” an investment opportunity or security.
According to the CoinMarketCap website, Trump currently has a total market value of around $8.7bn (£7.1bn), while Melania’s is around $1.3bn.
Trump had previously called crypto a “scam” but during the 2024 election campaign he 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 who take a more positive stance on the digital asset.
That raised hopes that he would deregulate the crypto industry.
After Trump’s victory, bitcoin jumped to a record high and is currently trading at $140,000, according to the crypto trading platform Coinbase.
On Friday, incoming artificial intelligence (AI) and crypto tsar David Sacks hosted the “Crypto Ball” in Washington, DC.
Other cryptocurrencies, including dogecoin – which has been promoted by top Trump supporter Elon Musk – have also risen sharply this year.
Under President Joe Biden, regulators have voiced concerns about fraud and money laundering as they crack down on crypto companies in exchange.
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