Melania Trump launched a meme coin on the eve of her husband’s inauguration — causing his own new cryptocurrency to briefly tank amid a buying frenzy. The incoming first lady dropped news of the cryptocurrency — “$MELANIA” — on Sunday night — just days after her husband, President-elect Donald Trump, revealed his own newly created $TRUMP coin.

Incoming first lady Melania Trump has launched her own cryptocurrency on the eve of her husband, President-elect Donald Trump, being inaugurated and days after he announced his own memecoin.

Donald Trump launched $TRUMP cryptocurrency, a meme coin, days before his inauguration. It quickly reached over $32 billion in value. Melania has now launched her own.

Donald Trump’s launch of his meme coin — coupled with low public understanding of crypto assets — could lead to financial losses from risky and speculative investments.

President Donald Trump’s inaugural committee received millions of dollars in donations from firms in the cryptocurrency industry that’s already seeing special attention from his administration, disclosures filed with the Senate Office of Public Records show.

The launch of the Trump token, which hit a $15 billion valuation, rides the trend and raises questions. Axios reporter Brady Dale explains what a meme coin is and what owners can actually do with them.