Melania Trump, the incoming first lady of the United States, has launched her own cryptocurrency called $Melania on social platform X. The announcement comes as President-elect Donald Trump continues to promote his own cryptocurrency, $Trump. Both coins have seen significant volatility in their value.
$Melania’s market valuation is estimated at around $1.7 billion, while $Trump’s stands at about $12 billion. Melania’s coin was launched from her company MKT World LLC, which has been involved in various ventures since 2021.
The launch of these cryptocurrencies comes after Trump previously dismissed cryptocurrency as a “scam” but later accepted digital assets as donations during his campaign. His family also launched a cryptocurrency company called World Liberty Financial, which aims to lead a financial revolution by dismantling traditional financial institutions.
Despite the initial skepticism, the value of $Trump and other cryptocurrencies has increased significantly in recent times, with Bitcoin reaching a record high of around $109,000 following Trump’s victory. The rise of “meme coins” – cryptocurrencies linked to viral internet trends or moments – has also contributed to their growth.
Source: https://www.bbc.com/news/articles/c98y47vrv2jo