Incoming first lady Melania Trump has joined her husband in the crypto game, launching her own “meme coin” over the weekend. But just hours after the new digital currency went live Sunday, her husband’s suffered a precipitous crash of more than 40%,

"The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun," Sacks said, speaking on Friday at the so-called crypto ball event, intended to drive support for Trump among the crypto community and demonstrate its value to the incoming administration.

President-elect Donald Trump promised a crypto-friendly administration. Days before taking office a second time, he began selling a new cryptocurrency. Named $TRUMP, the project is a meme coin, a type of crypto whose value is based largely on the popularity of internet memes.