The Trump family’s back-to-back meme coin launches — TRUMP and MELANIA — have triggered market chaos, social media backlash, and growing concerns about conflict of interest.
Table of Contents
From TRUMP to MELANIA
Understanding TRUMP and MELANIA tokens
Social media backlash: Are TRUMP and MELANIA tokens a crypto misstep?
Trump 2.0: A conflict of interest in the making?
What do experts think?
From TRUMP to MELANIA
The Trump family has expanded its presence in the crypto world, unveiling two meme coins in rapid succession.
On Jan. 17, President-elect Donald Trump announced the launch of Official Trump (TRUMP), a meme coin built on the Solana (SOL) blockchain.
Just two days later, on Jan. 19, Melania Trump followed with the release of her own token, Melana Meme (MELANIA), also based on Solana.
Trump’s announcement of TRUMP came via his social media platform, Truth Social, with a direct call to action: “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community.”
Within days of its release on Jan. 19, the token surged to an all-time high of $75, reaching a staggering market cap of nearly $15 billion. As of Jan. 20, the price has settled at $60, making TRUMP the 18th most valuable crypto by market cap.
This rapid rise — an 840% increase from its all-time low of $6.24 on Jan. 18 — turned the $TRUMP token into a sensation overnight.
Traders quickly capitalized on the coin’s volatility. Barstool Sports founder Dave Portnoy bought 500,000 TRUMP tokens at $24.80 and reported a 200% gain when he sold them within a day.
Amid all this, Eric Trump described the token as the “hottest digital meme on earth” and echoed the enthusiasm surrounding the project on social media.
Not to be outdone, Melania Trump’s MELANIA also gained traction, getting a major boost with a social media announcement that her husband amplified during his Victory Rally.
The MELANIA token surged to an all-time high of $13.73 on January 20, achieving a market capitalization exceeding $2 billion. This made it the top-performing asset among the top 100 cryptocurrencies, with a 73% gain in just 24 hours. However, as of this writing, the token has pulled back to $9.90.
The launch of the MELANIA token caused a temporary dip in TRUMP’s value as attention shifted, though the token quickly regained ground.
Understanding TRUMP and MELANIA tokens
Both TRUMP and MELANIA tokens are categorized as meme coins, a niche in the crypto market where value is largely driven by community sentiment and internet trends.
Fight Fight Fight, and CIC Digital, affiliates of the Trump Organization, manage the TRUMP token’s supply.
According to the token’s official website, 200 million of the total one billion TRUMP tokens have been released, with the remainder set to be sold over the next three years.
MELANIA, on the other hand, has allocated around 20% of its token supply for public distribution, though specific details about its total supply remain limited.
This isn’t the Trump family’s first foray into cryptocurrencies. Last year, Donald Trump collaborated with his sons, Donald Trump Jr. and Eric Trump, to launch World Liberty Financial (WLF).
World Liberty Financial fundamentally operates as a decentralized finance platform, enabling users to borrow, lend, and invest in various cryptocurrencies. The founders envision it as a means to achieve financial independence, particularly catering to individuals whom conventional banking systems have overlooked.
The launches of these coins are particularly intriguing, coming just days before Trump’s second inauguration, scheduled for Jan. 20.
Despite disclaimers on the official token websites stating that the projects are non-political and unaffiliated with any government or campaign, the association with the Trump name has undoubtedly amplified their visibility.
Social media backlash: Are TRUMP and MELANIA tokens a crypto misstep?
The Trump family’s venture into crypto with TRUMP and MELANIA tokens has unleashed a storm of reactions on Twitter.
The broader crypto community, however, has been far less forgiving, raising sharp criticisms about the intent, structure, and ethical implications of these projects.
One of the earliest concerns came from a CNBC crypto trader who initially appreciated the launch of TRUMP, seeing it as a bold signal of mainstream crypto adoption.
However, his perspective shifted after the release of MELANIA, leading him to call the entire endeavor a “grift” that drains liquidity from the market.
Frustration runs deep among both skeptics and the Trump family’s traditional supporters. One user expressed their anger: “Am I the only Trump supporter and conservative who thinks this Trump and Melania coin shit is retarded?”
Users also voiced outrage over what they perceived as a blatant cash grab. One critique highlighted that the MELANIA token is alarmingly centralized, with 88% of the supply reportedly held by just ten wallets. This kind of concentrated ownership is a red flag in the crypto world, as it leaves the market vulnerable to manipulation.
The backlash isn’t confined to technical concerns. Several users have accused the Trump family of exploiting their loyal supporters, many of whom are drawn to the brand’s promises of success and empowerment.
“First $TRUMP, now $MELANIA. What’s next? $Barron?” one tweet remarked, suggesting that the family might be treating these tokens as a series of quick monetization schemes rather than serious projects.
The ethical concerns are compounded by the unprecedented nature of a president launching speculative financial instruments tied to their name. One user tweeted: “$TRUMP coin should be illegal. Period. Like, what the f*ck.”
The controversy also points to a larger issue about meme coins. While these tokens often thrive on hype and community enthusiasm, their reliance on branding over substance can lead to volatile markets and disillusioned investors.
The Trump tokens, with their rapid launches and centralized structures, amplify these concerns—particularly when coupled with the weight of a globally recognized name.
Trump 2.0: A conflict of interest in the making?
As Donald Trump prepares to assume the presidency for a second term on Jan. 20, his ambitious crypto agenda is drawing scrutiny — not just for its potential impact on the industry but also for the clear conflict of interest it presents.
With the Trump family’s TRUMP and MELANIA tokens still fresh in the market, questions are mounting about how the president’s decisions on crypto regulation could directly or indirectly benefit his personal ventures.
As of Jan. 20, Forbes estimates Trump’s net worth at $6.7 billion. However, the unlocked supply of the TRUMP token — 800 million tokens — is valued at $42.6 billion based on current prices, according to Solscan.
At its peak price of $75, the valuation exceeded $62 billion, making it nearly ten times Trump’s declared net worth, making the intersection of his presidential powers and personal interests all the more consequential.
Trump has made no secret of his intention to promote crypto adoption during his second term. Central to his agenda is a plan to reduce the regulatory burden on crypto companies, including establishing a crypto advisory council.
This council is expected to guide government policy, potentially creating an environment more favorable to crypto markets. While such policies could benefit the broader industry, they also stand to significantly increase the value of Trump’s personal crypto holdings.
Moreover, Trump’s consideration of rescinding the SEC’s 2022 accounting guidance, known as SAB 121, could remove major barriers for banks and financial institutions looking to hold cryptocurrencies on behalf of clients.
This policy shift, designed to attract institutional players, would likely lead to a surge in market activity and investor confidence — two factors that could further boost the valuation of the TRUMP token.
With 80% of the token supply controlled by Trump-affiliated entities, any regulatory shift that increases demand for crypto would directly contribute to Trump’s wealth.
Some experts have highlighted the dangers of such entanglement. Larisa Yarovaya, an associate professor of finance, warned in a recent article that “strong political and government endorsements of crypto, paradoxically, pose a threat to its decentralization ethos and could ultimately undermine the appeal of crypto assets.”
In this case, the concentration of wealth within the Trump family’s tokens challenges the foundational principles of crypto itself: decentralization and fairness. Ultimately, Trump’s crypto agenda is bound to be one of the most closely watched — and debated — initiatives of his presidency.
What do experts think?
To understand the implications of the Trump family’s crypto ventures, ethdaily.net reached out to several industry experts who offered a range of insights.
Georgii Verbitskii, Founder of TYMIO, viewed the Trump tokens as opportunistic but not necessarily part of a calculated agenda.
“I don’t believe there’s a specific agenda behind these meme coins. It seems more like an experiment by people close to the Trump family who capitalized on great timing.”
He acknowledged the broader implications of a president launching a meme coin.
“If a president launches a meme coin, what is it if not a green light for others to monetize their public image? This could spark a cascade of meme coin launches from well-known public figures in the U.S. and globally.”
Tim Zinin, Founder of Botanica School, highlighted the marketing success of the Trump tokens, particularly for their impact on awareness of the Solana blockchain.
“From a marketing perspective, this is a huge win, as it brings massive awareness not just to Donald Trump, but also to the Solana blockchain.”
He suggested that such moves could contribute to the creation of new economic clusters within blockchains and drive infrastructure growth. However, Zinin also cautioned about the cyclical nature of the crypto market.
“We’re witnessing mass adoption in real-time, which is incredibly positive news. But we must remember that each peak is often followed by a significant downturn; without substantial future events, many of these assets could see sharp declines in value.”
Alice Stork, investor and founder of ICL, framed the Trump tokens as a strategic attempt to bridge the gap between Trump and younger, tech-savvy audiences.
“Trump is not the most popular candidate among younger audiences. Poll data shows that his main voters are men aged 45 to 64… by tapping into crypto — one of the fastest-growing and most culturally significant sectors — Trump is gaining media traction and connecting with a younger demographic.”
Stork acknowledged that the move could lend legitimacy to crypto but warned about potential unintended consequences.
“While this move brings legitimacy to the crypto industry, it may also have a reverse effect. Trump’s attention to the space will likely increase compliance and regulatory scrutiny, potentially putting the entire crypto market under stricter regulations.”
While the launches have undeniably brought attention and momentum to the space, they also raise critical questions about sustainability, regulation, and the risk of tying crypto to individual figures or political branding.