Melania Trump joins crypto craze with $MELANIA launch ahead of inauguration

On the eve of Donald Trump’s inauguration as the 47th President of the United States, incoming First Lady Melania Trump unveiled her own cryptocurrency, $MELANIA.

The announcement follows President-elect Trump’s recent introduction of his cryptocurrency, $Trump, both of which have seen significant but volatile trading activity, Caliber.Az reports via foreign media.

"The Official Melania Meme is live! You can buy $MELANIA now," Melania Trump announced on the social platform X on January 19, linking to the cryptocurrency's website. According to the site, $MELANIA is built and tracked on the Solana blockchain, a platform known for its speed and efficiency.

Both the $Trump and $Melania cryptocurrencies come with disclaimers, noting that they are not designed as investment opportunities or securities. Despite these warnings, the coins have gained traction. $Trump’s market valuation stands at an impressive $12 billion (£9.8 billion), while $Melania has reached $1.7 billion, according to CoinMarketCap.

Donald Trump, once a vocal critic of cryptocurrencies, has shifted his position in recent years. During his 2024 presidential campaign, he became the first major candidate to accept digital assets as campaign donations. Trump also pledged to establish a strategic bitcoin reserve and appoint regulators who favour digital innovation, fuelling optimism within the cryptocurrency community.

His victory in the presidential election has already impacted the broader market. Bitcoin surged to a record high of $107,000, as reported by Coinbase.

David Sacks, the incoming administration's designated AI and crypto tsar, hosted a "Crypto Ball" in Washington, DC, on January 17, signalling the administration’s focus on digital assets and artificial intelligence. Meanwhile, other cryptocurrencies, including Elon Musk-endorsed dogecoin, have also experienced sharp gains this year.

Under President Joe Biden, regulators had intensified scrutiny of the crypto industry, citing concerns over fraud and money laundering. However, industry experts anticipate that the Trump administration will take a more favourable stance, potentially rolling back regulations that have stifled the sector’s growth.

As the Trumps prepare to assume their new roles, their entry into the crypto space underscores how digital assets are becoming an integral part of modern political and financial strategies. Whether this signals a broader shift in US policy towards cryptocurrencies remains to be seen.

By Aghakazim Guliyev