Melania Trump launches her own cryptocurrency
Disclaimers on the websites of both $Trump and $Melania coins stated that they were not the “objective or subject” of an investment opportunity or security.
According to the CoinMarketCap website, $Trump currently has a total market valuation of around $8.7bn (£7.1bn), while $Melania has around $1.3bn.
Trump has previously called crypto a “scam,” but became the first presidential candidate to accept the digital asset as a donation during the 2024 election campaign.
During the campaign, Trump also said he would create a strategic Bitcoin reserve and appoint financial regulators who would take a more positive stance toward the digital asset.
This raised hopes that he would roll back regulations on the crypto industry.
In the wake of Trump’s victory, Bitcoin reached a record high and is currently trading at $140,000, according to crypto trading platform Coinbase.
On Friday, incoming artificial intelligence (AI) and crypto czar David Sachs hosted a “Crypto Ball” in Washington, DC.
Other cryptocurrencies including Dogecoin – 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.
