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Financial Times: How Traders Made Nearly $100M in Minutes on Melania Trump Token
By: coindoo|2025/05/06 21:15:01
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According to on-chain data, about two dozen wallets bought $2.6 million worth of MELANIA tokens just minutes before Melania Trump publicly announced the token’s launch via Truth Social on January 19. The coordinated timing led to a massive price spike, allowing these wallets to dump tokens shortly after, with 81% of their sales occurring within 12 hours.Suspicious Timing vs. Regulatory LoopholesThe rapid profit-taking has triggered speculation of insider activity, especially when compared to the earlier launch of Donald Trump’s TRUMP token, which had no significant pre-announcement trading activity. Unlike TRUMP, MELANIA’s pre-release activity suggests prior knowledge of the announcement, enabling profitable trades ahead of the public.Notably, these memecoins lack utility beyond branding and speculative value — with some offering perks like dinner with the former president. Under current SEC guidelines, such tokens are not classified as securities, and thus trades like these aren’t covered by traditional insider-trading laws. .dark-mode .read-more {background-color: #343a40 !important;} READ MORE: Bernstein Predicts $330 Billion Corporate Bitcoin Allocation in Next 5 Years Link to Texas Crypto Entrepreneur?The report also flagged possible ties between some of the wallets and Hayden Davis, a Texas-based crypto entrepreneur, although no formal accusations have been made.The findings raise broader concerns about transparency and fairness in the increasingly popular meme token market, especially when linked to high-profile public figures.The post Financial Times: How Traders Made Nearly $100M in Minutes on Melania Trump Token appeared first on Coindoo.
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