First Lady Melania Trump's disastrous meme coin has tanked just weeks after it was launched. Worth $13.69 at its peak on January 20, the cryptocurrency has now flopped and the value of her $Melania coin slumped as low as $0.
A new cryptocurrency called $Libra bilked investors out of $250 million. It had been promoted by President Javier Milei.
The value of $MELANIA has plummeted to less than $1, leaving investors reeling from losses, underscoring the unpredictable world of cryptocurrency.
So, why has Bitcoin lost nearly 20 percent of its value since his inauguration? Cryptocurrency is notorious for its volatility, so sharp declines and surges are not unexpected. However, Bitcoin and the broader crypto market have mostly seen steady growth,
TRUMP and MELANIA memecoin face extreme volatility, regulatory scrutiny and many other issues. Read why you should sell them now.
A California Democrat plans to introduce the Modern Emoluments and Malfeasance Enforcement Act, or MEME Act, on Thursday.
Bitcoin, the world’s most popular cryptocurrency, was trading at about $89,000 as the U.S. stock market opened. That’s down from about $106,000, which was the price around Trump’s inauguration. The decline in bitcoin and other crypto assets accelerated after a report showed a bigger-than-expected drop in consumer confidence for this month.
Donald Trump’s supporters have lost more than $12bn (£9.5bn) in a month after the value of the president’s cryptocurrency collapsed.
President Donald Trump made tens of billions on paper by using his national profile to push meme cryptocurrency. One Democratic congressman wants to make sure other politicians can’t do the same.