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Disclaimers on the $Trump and $Melania coin websites said they were “not intended to be, or subject to, an investment opportunity or security.”
According to the website CoinMarketCap, $Trump is currently valued at around $8.7 billion (7.1 billion pounds), while $Melania is worth around $1.3 billion.
Trump has previously called crypto a “fraud,” but he became the first presidential candidate to accept digital assets as donations during his 2024 election campaign.
On the campaign trail, Trump said he would create a strategic bitcoin repository and appoint financial regulators with a more positive attitude toward the digital asset.
This fueled hopes that he would remove regulations on the crypto industry.
After Trump’s victory, bitcoin hit a record high and is currently trading at $140,000, according to crypto trading platform Coinbase.
On Friday, incoming artificial intelligence (AI) and crypto czar David Sacks held a “Crypto Ball” in Washington, DC.
Other cryptocurrencies, including dogecoin – promoted by prominent Trump supporter Elon Musk – have also risen sharply this year.
Under President Joe Biden, regulators cited concerns about fraud and money laundering in suing crypto companies for exchanges.
