Trump’s TRUMP and MELANIA tokens have crashed, wiping out billions in value, underscoring the risks of politically linked memecoins.

Incoming first lady Melania Trump has launched a cryptocurrency on the eve of her husband's inauguration as US president. The announcement comes after President-elect Donald Trump launched the $Trump cryptocurrency. Both coins have risen but have seen volatile trade.

President Donald Trump introduced his cryptocurrency just before his inauguration, the TRUMP coin, built on the Solana blockchain. Initially priced at around $3 per to

The launch of President Trump's meme token was met with mixed reactions among the crypto community. On one hand, Trump allied with crypto backers on the campaign trail, promising to cut back on legal challenges brought against crypto businesses and promote innovation in the United States.

Entities behind President Donald Trump's crypto coin have accumulated close to $100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money.