Melania Trump launched her own cryptocurrency on Sunday, the eve of her husband's inauguration, just one day after launching her own coin, a move that is raising ethical concerns among crypto industry watchers.

“The official Melania Meme is live. You can buy $MELANIA now,” the incoming first lady wrote in X.

Donald Trump has released his own commemorative coin, $TRUMP. on Saturdaywith images of his assassination attempt in July.

The TRUMP dollar coin rose to a market cap of $11 billion on Monday morning. according to Crypto data platform CoinMarketCap potentially inflates her net worth by billions, though that figure fell to $8 billion later in the afternoon. Meanwhile, $MELANIA had a market cap of $1.7 billion a few hours before the inauguration, which later fell to 1 billion dollars.

Roughly 80 percent of Trump's coin tokens are owned by CIC Digital, a subsidiary of Trump's business, and another organization called Fight, Fight, Fight, according to its website.It says the coins are “an expression of support and engagement to the ideals and beliefs embodied in the “$TRUMP'' symbol, and do not constitute an endorsement or guarantee.

The coin launch sparked surprise and concern even among members of the cryptocurrency industry, some of whom criticized the Trumps again capitalizing on his presidency launching a profitable business product from which he and his family profit.

“While it's tempting to dismiss this as another Trump spectacle, the launch of an official Trump token opens a Pandora's box of ethical and regulatory issues,” said Justin D'Anethan, a Hong Kong-based crypto analyst.

“Should public figures, especially those with that kind of political influence, exercise that kind of influence in speculative markets? That's a question that regulators are unlikely to ignore,” he said.

Anthony Scaramucci, former White House communications director and now frequent critic, is too blew that move on X

“Now, virtually anyone in the world can deposit money into the US president's bank account with a few clicks. Every charity, geopolitical, corporate or personal, is now sold directly in the open,” he wrote.

Trump is an ardent supporter of crypto

Cryptocurrencies are a type of digital money that can be used to pay for things in the online world, and meme coins, which are often volatile, are a type of crypto that are usually driven by internet pranks.

Bitcoin, one of the most popular cryptocurrencies, surged after Trump's election victory. It rebounded to record highs ahead of his inauguration, jumping more than 10 percent so far this month.

Trump's coins “could actually strengthen the value of bitcoin because it's in limited supply,” said Barry Schwartz, chief investment officer at Baskin Wealth Management in Toronto cap in place.

“It's clear that Trump wants to start some kind of strategic bitcoin reserve, and that crypto is part of his agenda. So there's every reason why bitcoin continues to rise.”

The incoming president has been a staunch supporter of crypto, touting the creation of a strategic bitcoin reserve during the campaign, and many in the crypto space hope he defer regulations start-up industry.

Trump venture capitalist David O. Saxe appointed the nation's first crypto czar and became the first presidential candidate to accept cryptos as a valid form of campaign donation.

Bloomberg reports that Trump may use an executive order to classify cryptocurrency as a “national priority” after his inauguration on Monday.He also has strong support from the industry, with crypto companies such as Ripple, Robinhood and Coinbase by donating to his inaugural fund.

But the president-elect hasn't always been warm to digital assets. Trump previously called Bitcoin a “fraud” in 2021, lamenting that it competes with and affects the value of the US dollar.