"99 Million USD in 2 Minutes: The Insider Game with Memecoin MELANIA Shakes the Crypto World"

An analysis by the Financial Times reveals that a select group of traders pocketed a surprising $99.6 million by purchasing Melania Trump's cryptocurrency token, MELANIA, just before it was announced. This raises questions about insider information and market manipulation in the largely unregulated memecoin space. Details about pre-launch purchase transactions Melania Trump announced the MELANIA coin on social media on January 19, just before her husband's inauguration as president of the United States. Within two and a half minutes of her Truth Social post, two dozen digital wallets spent $2.6 million to purchase tokens from the cryptocurrency market. These early buyers capitalized on the price increase following Melania's announcement. They quickly sold off most of their shares; 81% of the sales were made within 12 hours. While cryptocurrency transactions can be tracked on the blockchain, the identities of individuals or organizations controlling the wallets remain largely anonymous. This lack of transparency makes it difficult to determine whether pre-launch purchases are based on insider information. The memecoin MELANIA was launched a few days after Donald Trump launched his own token TRUMP. These launches occurred as the Trump family and associates were involved in several cryptocurrency projects. A wallet spent $681,000 on memecoin 64 seconds before the official announcement. Within 24 hours, the account earned $39 million from sales and an additional $4.4 million in the following three days. In total, these 24 accounts purchased 16.7 million of the 200 million MELANIA tokens available during the launch. Unlike the TRUMP coin, the MELANIA coin experienced a wave of sell-offs before the announcement. Approximately $900,000 worth of tokens were purchased by 22 different accounts within 42 seconds after the launch. The price of MELANIA peaked within 10 hours and then fell. According to the non-profit group State Democracy Defenders Action, about 40% of Donald Trump's total net worth, estimated at around $2.9 billion, is currently held in cryptocurrency. A separate analysis by the blockchain company Chainalysis found that the creators of the stablecoin $TRUMP are said to have earned $320 million in transaction fees related to the token. Democratic lawmakers have criticized Trump and his family for their involvement in cryptocurrency since he returned to office in January. Earlier this week, Senator Chris Murphy (D-Conn.) introduced a bill called the MEME Act, aimed at preventing sitting presidents and members of Congress from issuing their own memecoins. Murphy, in a video shared on X, argued that memecoins could allow politicians to receive secret bribes in exchange for political favors. Murphy stated: "Trump's memecoin is the most immoral, corrupt thing that a US president has ever done." Hayden Davis, a cryptocurrency entrepreneur, stated that he was involved in the launch of $MELANIA. Davis, who was also involved in the launch of the memecoin $LIBRA, told Stephen Findeisen, known as Coffeezilla: "No money has been made by the Melania team. We have not withdrawn any liquidity. Nothing at all." The Financial Times' estimated analysis is based on tracking subsequent token sales from wallets. The price is estimated based on an exchange rate of $144.68 per Solana token. Of the $99.6 million made by 24 accounts, $88.7 million of the purchases were made in exchange for USDC MELANIA, which is currently trading at $0.3355, up 3.16% in the past 24 hours.