Melania Trump launched her own cryptocurrency, $MELANIA, on the eve of her husband’s inauguration, attracting nearly 20,000 investors within the first hour.
The coin’s value skyrocketed to £1.4 billion within minutes.
This launch came just a day after Donald Trump introduced his own $TRUMP coin, which currently has a market valuation of about $12 billion.
The $MELANIA coin is described as a way to “show support for and engagement with the values embodied by Melania”.
Despite disclaimers stating that both coins are not intended as investment opportunities, the launch of $MELANIA caused the $TRUMP coin to crash in value, wiping billions off its market price before it recovered some losses.
Donald Trump, who once called crypto a “scam,” changed his stance during the 2024 election campaign and became the first presidential candidate to accept cryptocurrency donations.
