WASHINGTON, Jan 20 – Incoming U.S. First Lady Melania Trump has made headlines by unveiling her own cryptocurrency, $MELANIA, just hours before her husband, Donald Trump, is inaugurated as the 45th president of the United States.
Taking to the social platform X (formerly Twitter) on Sunday, Melania announced the launch with a message that read: “The Official Melania Meme is live! You can buy $MELANIA now.” The digital currency, built on the Solana blockchain, has already drawn attention for its potential to capitalize on the growing interest in cryptocurrencies.
This move comes amid a cryptocurrency boom following Trump’s 2024 election victory. Bitcoin surged to an all-time high of $140,000 on Coinbase, while other digital assets, such as Dogecoin, have seen significant gains, partly fueled by Elon Musk’s vocal support for Trump and the crypto industry.
In tandem with the $MELANIA launch, President-elect Trump has also introduced his own cryptocurrency, $Trump, which has sparked massive market interest. Together, the two digital tokens have experienced fluctuating trading activity since their announcements, with $Trump achieving a market valuation of $8.7 billion (£7.1 billion) and $MELANIA reaching $1.3 billion, according to CoinMarketCap.
While disclaimers on both tokens’ official websites stress that they are “not intended to be, or the subject of, investment opportunities or securities,” market analysts are closely watching their performance. The tokens have been touted as innovative tools for promoting the Trumps’ brand and political messaging.
The cryptocurrency industry is anticipating a more favorable regulatory environment under the Trump administration. During his campaign, Donald Trump proposed creating a strategic Bitcoin stockpile and pledged to appoint regulators supportive of digital assets. These promises have fueled expectations of reduced restrictions on the crypto market, leading to the current surge in digital asset values.
In the lead-up to the inauguration, Washington, D.C., played host to the “Crypto Ball” on Friday, an exclusive event organized by incoming AI and crypto tsar David Sacks. The event drew key figures from the cryptocurrency and tech sectors, signaling a potential shift in U.S. policy towards embracing blockchain technology and digital finance.
Despite previously dismissing cryptocurrencies as a “scam,” Donald Trump reversed his position during his 2024 campaign, becoming the first presidential candidate to accept digital assets for campaign donations. His endorsement has been seen as a pivotal moment for the industry, propelling Bitcoin and other cryptocurrencies to unprecedented heights.
For Melania Trump, the launch of $MELANIA represents a foray into the world of blockchain technology, aligning with her husband’s embrace of digital finance. The move also cements the Trumps’ position as influencers in the cryptocurrency space, leveraging their political prominence to drive market interest.
As the Trump presidency prepares to take office, the cryptocurrency industry is watching closely to see how the administration’s policies could shape the future of digital assets. With $Trump and $MELANIA now in circulation, the Trumps appear poised to make their mark not only in politics but also in the rapidly evolving world of cryptocurrency.