US President-elect Donald Trump and his wife, Melania Trump, have launched their own meme coins– $TRUMP and $MELANIA. Trump and his wife have made the announcement ahead of Trump taking charge as US president.
The two coins have caused quite a stir in the crypto market. $TRUMP is valued at $8.87 billion, and $MELANIA at $1.19 billion. At a recent rally, Trump called them "investments," showing his support for the growing meme coin trend.
What are meme coins?
Meme coins are a type of crypto assets but have borrowed its name from the internet memes, trends, people, animals etc, things that are becoming famous on the internet. Meme coins are very different from the existing Bitcoins, their value depends on social media buzz and online hype. But there is one thing that is common between the Meme coins and other digital assets– they are extremely volatile. This means while they sound fun, they are risky and unpredictable investments.
The $TRUMP coin are part of an initiative spearheaded by CIC Digital LLC, an affiliate of the Trump Organization known for selling Trump-branded products like shoes and fragrances. Ownership of 80% of the tokens is shared between CIC Digital LLC and Fight Fight Fight LLC, a Delaware-based company established earlier this month.
How to buy $TRUMP and $MELANIA
If you want to buy the Trump and Melania meme coins, you can get it through the crypto brokers as well as the Moonshot marketplace. Trump has himself recommended people to buy the Meme coins from the Moonshot marketplace. You can use various modes of payments at Moonshot marketplace such as Google Pay, Venmo, Solana/USDC, Apple Pay, and the debit and credit cards. Buyers can quickly receive the coins by providing their email after making the payment via one of these modes.
If you already deal in Bitcoin or other digital assets, you can also get the meme coins from decentralised exchanges trading options. To buy the meme coins, users will have to first get the crypto assets like Ethereum (ETH) or Binance Coin (BNB), which they can then trade for $TRUMP or $MELANIA.
Where to store meme coins?
Now if you are wondering how to keep the coins safe, you should use a secure wallet and make sure that you are purchasing official tokens by checking trusted sources. Since $TRUMP and $MELANIA are high-risk investments dominated by social media hype, it is important to exercise caution.
Trump's big crypto agenda
Trump also has World Liberty Financial, which is a crypto project backed by his family. Back in October, a report by Coin Desk revealed that World Liberty Financial would be built on the Ethereum blockchain. Furthermore, it will also be built on Aave, a decentralised finance platform. The WLF offers services like borrowing, lending, and investing in cryptocurrencies.
The US president-elect has also announced that his administration will havean Office of Science and Technology Policy (OSTP), which will be led by Michael Kratsios, who previously served as White House Chief Technology Officer during Trump’s first term and briefly held the role of acting undersecretary at the Department of Defense.
The President-elect has also named Dr. Lynne Parker, his former deputy CTO, as the Executive Director of the Presidential Council of Advisors for Science and Technology. Former college football player and Republican congressional candidate Bo Hines has been selected to lead the Presidential Council of Advisers for Digital Assets, also known as the “Crypto Council.”
Advising the administration on AI policy within the OSTP will be Sriram Krishnan, a tech industry veteran with experience at leading firms such as Andreessen Horowitz, X (formerly Twitter), Meta, and Snap.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
