President-elect Donald Trump has launched a new cryptocurrency token that's soaring in value and potentially boosting his net worth.

"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.

Melania Trump announced Sunday that her new crypto meme was available to be purchased, just days after President-elect Trump announced the release of his own cryptocurrency.