Don & Melania Trump launch a pair of meme coins ahead of inauguration, raising serious ethics concerns
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The incoming first couple have launched a pair of meme coins in the leadup to president-elect Donald Trump’s inauguration that are already worth billions of dollars on paper. But the timing of the Trump cryptocurrency launch, just days before taking office and promising to be a crypto-friendly president, alarmed ethics experts and even some in the crypto industry
Melania Trump launched her cryptocurrency $MELANIA in a social media post Sunday, sending her husband’s cryptocurrency $TRUMP, announced two days earlier, plummeting
Meme coins are a type of highly volatile cryptocurrency inspired by popular internet or cultural trends. They carry no intrinsic value but can soar, or plummet, in price.
“My NEW Official Trump Meme is HERE!” Trump wrote on X Friday. “It’s time to celebrate everything we stand for: WINNING
Both coins are trading on the Solana blockchain. Trump’s meme coin skyrocketed over the weekend and was trading at more than $77 by Sunday
afternoon here on Binance trading platform