Disclaimers on the websites of both the $Trump and $Melania coins said they were “not intended to be, or the subject of” an investment opportunity or a security”.
According to the CoinMarketCap website, $Trump currently has a total market valuation of about $8.7bn, while $Melania’s stands at around $1.3bn.
Trump had previously called crypto a “scam” but during the 2024 election campaign became the first presidential candidate to accept digital assets as donations.
On the campaign trail, Trump also said he would create a strategic bitcoin stockpile and appoint financial regulators that take a more positive stance towards digital assets.
That spurred expectations that he would strip back regulations on the crypto industry.
In the wake of Trump’s victory, bitcoin jumped to a record high is currently trading at $140,000 (£122,000), according to crypto trading platform Coinbase.
On Friday, the incoming artificial intelligence (AI) and crypto tsar David Sacks held a “Crypto Ball” in Washington, DC.
Other cryptocurrencies, including dogecoin – which has been promoted by high-profile Trump supporter Elon Musk – have also risen sharply this year.
Under President Joe Biden, regulators cited concerns about fraud and money laundering as they cracked down on crypto companies by suing exchanges.
This article was originally published at www.bbc.com
