Incoming first lady Melania Trump has launched a cryptocurrency on the eve of her husband's inauguration as US president.
The announcement comes after the election of President Donald Trump launches $Trump cryptocurrency. Both coins were up, but trading was volatile.
"Official Melania memes are live! You can buy $Melania now," She posted on social platform X on Sunday.
A disclaimer on the Trump Coin and Melania Coin websites says they are “not intended to be, or be the subject of,” an investment opportunity or security.
According to the CoinMarketCap website, $Trump has a total market capitalization of approximately $12 billion (£9.8 billion), while $Melania has a total market capitalization of approximately $1.7 billion.
Trump has previously called cryptocurrencies a "scam," but became the first presidential candidate to accept digital assets as donations during his 2024 campaign.
During the campaign, his family founded a cryptocurrency company called World Liberty Financial, which aims to "lead the financial revolution by breaking the stranglehold of traditional financial institutions" and also sell cryptocurrencies.
The new Trump coin was launched by Trump Organization affiliate CIC Digital LLC, which has been linked to sales of crypto collectible NFTs launched in 2022 that made millions but have since been worth less to their owners sharp decline.
According to CoinGecko, the NFT once sold for more than $1,000, but has since dropped in value to around $300.
On the campaign trail, Trump also said he would establish a strategic Bitcoin reserve and appoint financial regulators that would take a more aggressive stance on digital assets.
This has fueled expectations that he will deregulate the cryptocurrency industry.
Following Trump's victory, Bitcoin jumped to an all-time high of around $109,000, according to cryptocurrency trading platform Coinbase.
On Friday, incoming artificial intelligence (AI) and cryptocurrency czar David Sacks held a “crypto dance party” in Washington, DC.
Other cryptocurrencies, including Dogecoin, promoted by high-profile Trump supporter Elon Musk, have also surged this year.
Under President Joe Biden, regulators have cited concerns about fraud and money laundering as they crack down on cryptocurrency companies by prosecuting exchanges.
Dogecoin’s growth has significantly increased interest in so-called “meme coins” — cryptocurrencies often associated with viral internet trends or moments.
Melania's meme coins come from her own incorporated company, MKT World LLC, where she has been conducting various businesses since 2021, including selling her likeness as First Lady.
Anyone can create and issue Meme coins, and there are currently thousands of them.
With their popularity and social media influence, Trump Coin and Melania Coin have entered the top 100 in value, with Melania’s Coin now worth more than artificial intelligence entrepreneur Sam Altman’s World currency.