Melania Trump, incoming first lady of the United States, has introduced her cryptocurrency, $MELANIA, just ahead of her husband Donald Trump’s inauguration as president. The digital asset, often referred to as the Melania coin, marks her entry into the rapidly growing cryptocurrency market.
The announcement was made on Sunday through the social platform X, where Melania Trump stated, “The Official Melania Meme is live! You can buy $MELANIA now.” The cryptocurrency is based on the Solana blockchain and described as a crypto asset rather than a security or investment opportunity.
This move comes shortly after President-elect Donald Trump launched his own cryptocurrency, $Trump, which has gained significant attention. As of now, $Trump boasts a market valuation of $12 billion, while $Melania’s market cap stands at $1.7 billion, according to CoinMarketCap.
Donald Trump, who once labeled cryptocurrency a “scam,” has pivoted to embrace digital assets during his 2024 presidential campaign. He became the first presidential candidate to accept cryptocurrency donations and announced plans to establish a strategic bitcoin reserve and appoint crypto-friendly financial regulators.
This shift has fueled optimism in the cryptocurrency industry, with bitcoin surging to a record high of approximately $107,000. Other cryptocurrencies, including dogecoin—championed by Trump supporter Elon Musk—have also experienced significant growth this year.
The announcement coincides with broader developments in the crypto space. On Friday, David Sacks, the incoming AI and crypto tsar, hosted a “Crypto Ball” in Washington, DC, marking a celebratory moment for the digital asset community.
Under the Biden administration, cryptocurrency faced stricter regulations due to concerns over fraud and money laundering. However, the new administration’s policies are expected to usher in a more favorable environment for the industry.