Disclaimers on the websites for the $Trump and $Melania coins stated that they were “not intended to be, nor will be the subject of” an investment opportunity or security.
According to the website CoinMarketCap, $Trump currently has a total market valuation of around $8.7 billion, while Melania’s is around $1.3 billion.
Trump previously called crypto a “scam,” but during the 2024 election campaign, he became the first presidential candidate to accept digital assets as donations.
During the election campaign, Trump also said he would create a strategic bitcoin stockpile and appoint financial regulators who would take a more positive stance toward digital assets.
This raised hopes that he would remove regulations on the crypto industry.
Following Trump’s victory, bitcoin hit an all-time high and is currently trading at $140,000 (£122,000), according to crypto trading platform Coinbase.
New artificial intelligence (AI) and crypto czar David Sacks hosted a “Crypto Ball” in Washington, DC on Friday.
Other cryptocurrencies, including dogecoin – which was promoted by Elon Musk, a prominent Trump supporter – have also risen sharply this year.
Under President Joe Biden, regulators have raised concerns about fraud and money laundering as they crack down on crypto companies suing exchanges.
