Incoming First Lady Melania Trump has announced the launch of her cryptocurrency, $Melania, just ahead of her husband Donald Trump’s inauguration as the 47th president of the United States.
This announcement follows Donald Trump’s own cryptocurrency launch, $Trump, marking a significant move into the digital asset space by the Trump family.
Launch of $Melania on Solana Blockchain
Melania Trump shared the news on social platform X, encouraging users to purchase $Melania. The cryptocurrency operates on the Solana blockchain and is described on its official website as a tracked crypto asset. Disclaimers on both $Trump and $Melania websites clarify that these coins are not intended to be investment opportunities or securities.
As of now, $Melania has a market valuation of $1.7 billion, while $Trump has reached a total valuation of $12 billion, according to CoinMarketCap.
Shifting Crypto Stance Under Trump
The Trump administration appears to be setting the stage for a new crypto-friendly environment. Although Donald Trump previously criticized cryptocurrencies as a “scam,” his 2024 presidential campaign accepted digital assets as donations, signaling a policy shift. Trump has also expressed plans to establish a strategic Bitcoin reserve and reduce regulatory barriers for the crypto industry.
The announcement of $Melania adds to the growing anticipation of changes under Trump’s presidency. The appointment of David Sacks, an advocate for both artificial intelligence and blockchain technologies, as the administration’s crypto and AI leader, underscores this direction. Sacks recently hosted a high-profile “Crypto Ball” in Washington, D.C., further cementing crypto’s prominence in the new administration.
Market Reactions and Broader Impact
Bitcoin reached an all-time high of $109,000 in the lead-up to Trump’s inauguration, while other cryptocurrencies, such as Dogecoin, have also seen significant growth. Analysts attribute this surge to optimism about deregulation and the administration’s perceived pro-crypto stance.
Under the previous administration, regulators had tightened restrictions on the crypto industry, citing concerns about fraud and money laundering. The Trump administration is expected to take a different approach, focusing on innovation and strategic integration of digital assets into the national financial system.
With Melania Trump’s foray into cryptocurrency and the broader crypto-friendly outlook of the incoming administration, the sector is poised for transformative growth in the years ahead.