Comment
Author: Admin | 2025-04-28
CNN — The incoming first couple have launched a pair of meme coins in the leadup to president-elect Donald Trump’s inauguration that are already worth billions of dollars on paper. But the timing of the Trump cryptocurrency launch, just days before taking office and promising to be a crypto-friendly president, alarmed ethics experts and even some in the crypto industry. Melania Trump launched her cryptocurrency $MELANIA in a social media post Sunday, sending her husband’s cryptocurrency $TRUMP, announced two days earlier, plummeting. “The Official Melania Meme is live! You can buy $MELANIA now. https://melaniameme.com,” the future first lady wrote on X Sunday.” Meme coins are a type of highly volatile cryptocurrency inspired by popular internet or cultural trends. They carry no intrinsic value but can soar, or plummet, in price. “My NEW Official Trump Meme is HERE!” Trump wrote on X Friday. “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com — Have Fun!” Both coins are trading on the Solana blockchain. Trump’s meme coin skyrocketed over the weekend and was trading at more than $70 by Sunday afternoon, according to CoinGecko. However, the president-elect’s coin nosedived to $40 after Melania revealed her own coin. It has since recovered some of those losses and was trading around $60 early Monday. $MELANIA was trading just over $12 early Monday, according to CoinGecko. $TRUMP is the first cryptocurrency endorsed by the incoming president, who once trashed bitcoin as “based on thin air.” Trump received strong support from the crypto industry this election after he embraced crypto and promised to America the “crypto capital of the planet.” In July 2024, Trump addressed crypto’s largest convention and has since appointed Howard Lutnick, who supports the cryptocurrency company Tether, to run the
Add Comment