Melania Trump One-Ups Her Husband With Crypto Grift of Her Own
Melania Trump launched a meme coin—hurting Donald Trump’s own grift just before he enters the White House.
Melania Trump’s meme cryptocurrency launched Sunday night, skyrocketing in value and netting her a tidy profit only hours before she returns to the White House as first lady.
In an X post, Trump posted a photo of herself with the caption “The Official Melania Meme is live! You can buy $MELANIA now.” The price of the coin went to $12 in a matter of hours, with a market cap of more than $12 billion.
At the same time, Donald Trump’s meme coin, $TRUMP, launched on Friday, plummeted more than 40 percent. His coin had a very auspicious start, becoming the second-largest meme coin based on market cap. But right after his wife’s coin launch, the president-elect’s coin lost more than $7.5 billion in value.
The windfall for both Trumps, coming right before the inauguration, is a sign that profiteering from the president and first lady will occur unabated by ethical concerns or worries about the Constitution’s emoluments clause. The new president has said he plans to make the United States the “crypto capital of the planet,” and his cryptocurrency ventures are taking in millions from shady sources.
Many of Trump’s appointees are a nod to the crypto industry, including David Sacks as A.I. and crypto czar and Paul Atkins as head of the Securities and Exchange Commission. Crypto investors spent millions of dollars getting Trump elected—and billions of dollars will flow into the cryptocurrency for the next four years.
Any cryptocurrency regulations will likely be ones that appease crypto investors and ensure that the money continues flooding into the pockets of the president, first lady, and their friends and supporters. The grift is now official policy.