On the day of his inauguration, President Donald Trump faces growing scrutiny over his cryptocurrency, $TRUMP, a Solana-based token launched just days before he assumed office. Meanwhile, the First Lady, Melania Trump, has further complicated the narrative by debuting her own cryptocurrency, $MELANIA, just one day prior to the inauguration. Together, these ventures have sparked significant ethical debates and sent shockwaves through the cryptocurrency market.
The $TRUMP Token: Political Branding or Financial Innovation?
Launched on January 17, 2025, $TRUMP quickly became a cultural phenomenon. Within hours, the token surged from an initial price of $10 to a peak of $74.69, stabilising around $52 as of today. With a market capitalisation of over $10 billion, $TRUMP ranks among the largest cryptocurrencies in circulation, despite being branded as a “meme coin.”
However, the launch of $TRUMP has raised alarms over potential conflicts of interest. President Trump’s close ties to two entities—CIC Digital LLC and Fight Fight Fight LLC—which collectively control 80% of the token’s supply, have led critics to question the transparency and ethicality of his involvement.
“This blurs the line between governance and private gain in ways we’ve never seen before,” said a financial ethics expert. “The risk of market manipulation and public trust erosion cannot be ignored.”
The $MELANIA Token: A New Player with Big Impact
Adding fuel to the fire, the First Lady, Melania Trump, launched her own cryptocurrency, $MELANIA, on January 19, 2025. Priced between $10 and $12 in early trading, $MELANIA achieved a market capitalisation of $2.15 billion within hours. However, its debut came with significant volatility:
• Initial surge: The token peaked at over $13, marking its all-time high.
• Current price: Stabilised around $11.16, up over 50% from launch.
• Trading volume: Over $4.9 billion in the first 24 hours.
Despite its disclaimer as “not an investment opportunity,” $MELANIA has drawn substantial interest from the market. Built on the Solana blockchain, the token boasts a total supply of 1 billion and has quickly become the fourth-largest meme coin in the Solana ecosystem.
Ripple Effects on the Cryptocurrency Market
The launch of $MELANIA had an immediate and dramatic effect on her husband’s token, $TRUMP. Within 10 minutes of $MELANIA’s debut, $TRUMP experienced a 40% price drop, wiping $7.5 billion off its market capitalisation. While the token later rebounded, the volatility highlighted the risks of interconnected ventures in an already unpredictable market.
Beyond these individual coins, the broader cryptocurrency ecosystem felt the shockwaves. Bitcoin and Ethereum saw spikes in speculative trading, as the Trump family’s ventures brought new participants into the market, both fans and critics alike.
Ethical and Regulatory Concerns
The dual launches have reignited debates about the role of public figures in private financial enterprises. Critics argue that the President and First Lady’s involvement in cryptocurrency creates potential conflicts of interest that could undermine public trust.
“When the most powerful couple in the world enters a speculative market, it raises questions about influence, regulation, and ethics,” said a senior political analyst. “Who’s to say their policy decisions won’t indirectly benefit their personal financial ventures?”
Lawmakers and regulatory agencies are now under pressure to address these concerns. The lack of clear guidelines for public officials engaging in cryptocurrency has left the market vulnerable to accusations of manipulation and self-enrichment.
What Lies Ahead for $TRUMP and $MELANIA?
As President Trump embarks on his new term, his cryptocurrency ventures remain a contentious issue. Supporters argue that $TRUMP and $MELANIA are innovative tools for expanding the digital economy and engaging with supporters. Critics, however, warn of the ethical quagmire they present and the broader implications for the cryptocurrency industry.
The unfolding saga of the Trump cryptocurrencies will likely shape discussions on the regulation of digital assets and the ethical responsibilities of public officials in private enterprise. For now, the world watches as the intersection of politics and cryptocurrency takes centre stage.