Melania Trump has introduced her own cryptocurrency, called $Melania, just before her husband Donald Trump is sworn in as the 47th U.S. president, according to the BBC.
This comes after Donald Trump launched his own crypto coin, $Trump, earlier. Both coins have quickly gained attention but are experiencing ups and downs in their value. On Sunday, Melania announced on the social platform X, “The Official Melania Meme is live! You can buy $Melania now.”
The $Melania coin operates on the Solana blockchain, as explained on its official website. However, both $Trump and $Melania coins carry disclaimers stating they are not meant to be serious investments or securities, according to the BBC.
Currently, $Trump is valued at around $12 billion, while $Melania has a market valuation of about $1.7 billion, as reported by CoinMarketCap.
Interestingly, Donald Trump, who once referred to cryptocurrencies as a “scam,” accepted digital currencies as donations during his 2024 campaign. BBC reports that Trump also promised to build a Bitcoin reserve for the U.S. and support more crypto-friendly regulations.
These promises boosted Bitcoin’s value, which has reached an all-time high of $107,000, based on data from Coinbase.
Other cryptocurrencies, like Dogecoin, have also surged in value this year, partly due to promotion by Elon Musk, a known Trump supporter. The BBC noted that under President Joe Biden, strict regulations were enforced on crypto firms due to concerns about fraud and money laundering, but Trump’s win has fueled expectations of relaxed rules.
In related news, David Sacks, the incoming AI and crypto advisor, recently hosted a “Crypto Ball” in Washington, DC, signaling a significant shift in how the new administration views digital currencies.
Credit : BBC
https://www.bbc.com/news/articles/c98y47vrv2jo