Melania Trump Launches Her Own Cryptocurrency, Raising Ethical Concerns

Melania Trump launched her own cryptocurrency on Sunday on the eve of her husband's presidential inauguration, just a day after his own coin was launched

Melania Trump launched her own cryptocurrency on Sunday ahead of her husband's presidential inauguration, a move that — along with the launch of Donald Trump's own coin a day earlier — is raising ethical concerns.

"The Official Melania Meme is live! You can buy $MELANIA now," the incoming first lady wrote on X.

The launch of the coins surprised and concerned even those in the cryptocurrency industry, some of whom criticized the Trumps for again capitalizing on his presidency by launching a lucrative business product from which he and his family stand to profit.

"While it's tempting to dismiss this as just another Trump spectacle, the launch of the official Trump token opens up a Pandora's box of ethical and regulatory questions," said Justin D'Anethan, an independent crypto analyst based in Hong Kong.

"Should public figures, especially those with such political clout, wield this kind of sway in speculative markets? That's a question regulators are unlikely to ignore," he said.

Trump, an enthusiastic supporter of crypto, has signalled that he will launch a strategic reserve of Bitcoin and many working in crypto are hoping he'll roll back regulations of the nascent industry.

The incoming president became the first presidential candidate to accept crypto as a valid form of donation to his campaign and Bloomberg reports that Trump might use an executive order to classify cryptocurrency as a "national priority" after his inauguration on Monday.

He also has strong support from the industry, with crypto companies like Ripple, Robinhood and Coinbase having donated to his inaugural fund.

But the president-elect hasn't always been so enthusiastic about the digital assets: Trump previously called Bitcoin a "scam" in 2021, saying it was competing with and impacting the value of the U.S. dollar.