What Trump, wife Melania’s ‘meme coins’ signal about crypto regulation in the US | Business News
Crypto markets were rocked by the launch of two new his and her ‘meme coins’, by new United States President Donald Trump, and his wife Melania – coinciding with the administration’s signal towards a favourable regulatory environment for cryptocurrencies, while raising ethical concerns.
On Friday night, Trump launched a meme coin by his own name, which surged from less than $10 on Saturday morning to as high as $74.59 before giving up some of its gains on Monday. At the time of publishing, the growth was somewhat moderated, with the cryptocurrency trading at around $35, as per CoinMarketCap. Trump’s meme coin had a market cap of over $7 billion, crashing from a high of more than $12 billion.
The moderation in Trump’s meme…
