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Trump's embrace of meme coin sours mood in crypto industry

This authoritative-secondary source from Associated Press supports 2 claims across 2 ledger entries.

Publisher
Associated Press
Published
2025-01-21
Accessed
2026-09-03
Source quality
authoritative-secondary

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Claims supported by this source

  1. factdocumented

    The Associated Press reported that Donald Trump and his wife, Melania Trump, launched separate meme coins before his inauguration; Melania announced $MELANIA on January 19, 2025, and the token experienced an initial price spike followed by a large fall.

    Melania Trump launches the $MELANIA memecoin before inauguration · $MELANIA launched and entered public trading · reviewed 2026-09-03

  2. estimateestimate

    Fortune reported Financial Times blockchain analysis finding that 24 wallets bought $2.6 million of $MELANIA in the two and a half minutes before Melania Trump's January 19 announcement, cashed out $99.6 million as the price rose, and sold 81% of those holdings within twelve hours. Fortune reported a $13.73 January 20 peak and an approximately $0.32 May 7 price, a 98% decline.

    Independent launch chronology and initial spike-and-fall description

    Pre-announcement $MELANIA wallets cashed out $99.6 million · 24 wallets tracked; $99.6 million cashed out; price 98% below peak by May 7 · reviewed 2026-09-03