Melania Trump’s cryptocurrency, $MELANIA, skyrocketed to a £1.4 billion valuation shortly after launch, attracting thousands of investors. The coin’s success overshadowed Donald Trump’s $TRUMP coin, causing a temporary crash in its value. Critics question the ethical implications of the Trumps monetizing their political influence through digital currencies.
Melania Trump, the incoming First Lady, made headlines with the launch of her cryptocurrency, $MELANIA, which achieved a staggering valuation of £1.4 billion within minutes. The announcement, shared on her social media platform on January 19, drew nearly 20,000 investors in its first hour, creating a buzz across the cryptocurrency market.
The launch comes shortly after her husband, Donald Trump, introduced his digital currency, $TRUMP, which previously held a market value of approximately £9.8 billion. However, $MELANIA’s rapid success caused a temporary crash in the $TRUMP coin’s value, wiping billions from its market capitalization. Although the $TRUMP coin has since recovered some losses, the incident has raised concerns about the Trumps’ use of their public influence for financial gain.
The official website of $MELANIA describes the cryptocurrency as a symbol of support for the former First Lady’s values. It also includes a disclaimer clarifying that the coin is not intended as a formal investment. Despite this, the market’s reaction highlights the strong public interest in celebrity-backed digital assets.
Donald Trump, who once referred to cryptocurrencies as a “scam,” has recently embraced them, becoming the first presidential candidate to accept crypto donations during his campaign. Critics, however, question the ethical implications of the Trumps profiting from the digital currency craze while holding prominent public profiles.
The launch of $MELANIA has sparked debates about the intersections of politics, influence, and the rapidly evolving cryptocurrency industry.
