Monday, January 20, 2025

CNBC story on Trump and Melania meme coins, introduced on Friday and Sunday, sheepishly mentions conflicts of interest, introduced to cash in on inauguration euphoria

The Grifters, the sequel

 

Yeah, no shit.

Melania Trump launches cryptocurrency ahead of Donald Trump’s inauguration

... The Melania token was trading at $11.16 at 10:48 a.m. London time on Monday, up more than 50%, according to data from CoinMarketCap. It has a market cap of $2.15 billion. ...

“Meme cryptocurrencies like these are prone to large fluctuations and we generally consider them as speculative assets,” he said. “The tokens released by Donald and Melania Trump appear to symbolize support for the digital currency sector. However, the introduction of these coins during the presidential inauguration raises concerns about potential conflicts of interest.” ...

Following the Sunday launch of the “Melania” token, the president-elect’s “Official Trump” coin briefly crashed as much as 40%, according to analysts at The Kobeissi Letter in a Sunday post on X.