The announcement marks a significant shift in the Trump family's engagement with digital currencies, with potential implications for regulatory perspectives and investment.
Melania Trump Ventures into Cryptocurrency with $MELANIA Coin
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Melania Trump Ventures into Cryptocurrency with $MELANIA Coin
Melania Trump capitalizes on the crypto trend by launching her own cryptocurrency amidst her husband's presidential inauguration.
In a notable entry into the world of digital assets, Melania Trump has officially launched her cryptocurrency dubbed $MELANIA, coinciding with the eve of her husband Donald Trump's inauguration as President of the United States. This new coin emerges just a day after the introduction of the $Trump cryptocurrency, highlighting a growing trend within the political landscape.
Melania made the announcement via a post on the social media platform X, affirming that "The Official Melania Meme is live! You can buy $MELANIA now." This cryptocurrency is designated as a crypto asset that operates on the Solana blockchain. However, both Melania and Trump's coins contain disclaimers on their respective websites indicating that they are "not intended to be, or the subject of" investment opportunities or securities.
As per data from CoinMarketCap, the market valuation of $Trump has skyrocketed to approximately $12 billion, whereas $MELANIA's valuation stands at around $1.7 billion. Notably, Donald Trump had previously disparaged cryptocurrencies as "scams," yet he made history during his 2024 campaign by being the first presidential candidate to accept digital assets as campaign contributions. His campaign trail remarks included plans to create a strategic bitcoin stockpile and advocate for financial regulators with a favorable attitude toward cryptocurrencies, which has heightened speculation regarding potential deregulation in the crypto industry.
Following Trump's election victory, bitcoin has surged to an unprecedented high, currently trading at $140,000, according to Coinbase. Meanwhile, the recent "Crypto Ball" event hosted by David Sacks, the newly appointed AI and crypto advisor, in Washington, DC, underscores the increasing intersections of politics and cryptocurrency.
Amid these developments, other cryptocurrencies like dogecoin, which has gained traction through endorsements from supporters such as Elon Musk, have also experienced significant price increases this year. Conversely, under the Biden Administration, regulators have raised alarms about potential fraud and money laundering, resulting in lawsuits against various crypto exchanges as part of a push for stricter oversight of the industry.
Melania made the announcement via a post on the social media platform X, affirming that "The Official Melania Meme is live! You can buy $MELANIA now." This cryptocurrency is designated as a crypto asset that operates on the Solana blockchain. However, both Melania and Trump's coins contain disclaimers on their respective websites indicating that they are "not intended to be, or the subject of" investment opportunities or securities.
As per data from CoinMarketCap, the market valuation of $Trump has skyrocketed to approximately $12 billion, whereas $MELANIA's valuation stands at around $1.7 billion. Notably, Donald Trump had previously disparaged cryptocurrencies as "scams," yet he made history during his 2024 campaign by being the first presidential candidate to accept digital assets as campaign contributions. His campaign trail remarks included plans to create a strategic bitcoin stockpile and advocate for financial regulators with a favorable attitude toward cryptocurrencies, which has heightened speculation regarding potential deregulation in the crypto industry.
Following Trump's election victory, bitcoin has surged to an unprecedented high, currently trading at $140,000, according to Coinbase. Meanwhile, the recent "Crypto Ball" event hosted by David Sacks, the newly appointed AI and crypto advisor, in Washington, DC, underscores the increasing intersections of politics and cryptocurrency.
Amid these developments, other cryptocurrencies like dogecoin, which has gained traction through endorsements from supporters such as Elon Musk, have also experienced significant price increases this year. Conversely, under the Biden Administration, regulators have raised alarms about potential fraud and money laundering, resulting in lawsuits against various crypto exchanges as part of a push for stricter oversight of the industry.