Melania Trump on Sunday was hit with criticism from both sides of the aisle after it was announced she was releasing a “meme coin” for investors to purchase. Melania made the announcement on Donald Trump’s social media platform, Truth Social. Trump himself shared the post, but it was soon reported that the release of her investment tool caused the value of her husband’s to drop by around 40%.
The response on social media was swift and varied, with even some of her followers expressing skepticism. One “concerned citizen,” identified as
on social platforms, who usually shares content from conservative sources, questioned the timing and relevance of the meme coin launch, saying, “What’s with the meme coins? First Trump now Melania… we have some major issues to deal with and you think this is the appropriate time to sell coins?”
Peter Schiff, a well-known stockbroker and occasional Trump supporter, commented on the meme coin trend within the Trump family, noting, “First, #Trump launched $TRUMP; now Melania has launched her own coin. I assume that soon the rest of the Trump family will be launching their coins. At least it’s all above board, which is an improvement over how the #Biden family cashed in.”
Conservative voices like Heath Mayo outright labeled it a “scam,” reflecting a growing discontent among some Trump supporters. On the other hand, liberal commentators were equally critical. Brian Krassenstein highlighted the financial implications, pointing out that the launch of Melania’s coin led to a significant drop in the value of Donald Trump’s coin, causing a “$30 billion evaporation” in paper wealth. He further criticized the move as “corruption” and a “disregard for Americans’ trust.”
Art Candee, an artist known for his anti-Trump sentiments, echoed these sentiments, describing the situation as “astounding corruption.” Ben Meiselas, a lecturer at USC Law, took a sarcastic tone, juxtaposing the meme coin launches with unfulfilled political promises, saying, “Hey guys, Donald Trump didn’t bring peace to Ukraine as he promised but Melania Trump just dropped her own meme coin after Donald Trump dropped his and they are making billions. Sorry about those egg prices. Hawk Tuah the moon!!!”
Investment commentator InvestmentKage focused on the distribution of the coin, revealing that “88% of $MELANIA Meme coin owned by 10 people,” dubbing the investment as “straight up gambling.”
