Melania Trump Memecoin: Information Before Launch from FT

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Huge Profit Trading Group from Memecoin MELANIA

According to a report from the Financial Times, a group of cryptocurrency traders purchased millions of USD in Melania Trump's memecoin before she announced it on social media. They made a profit of about 100 million USD by buying 2.6 million USD worth of MELANIA Tokens before the public launch on January 19. The price of this Token rose from 2.00 USD to 12.95 USD, an increase of 550%. The traders sold out within 12 hours. In total, 24 accounts bought 16.7 million of the 200 million Tokens sold.

The Controversy Surrounding MELANIA And TRUMP Token

From January 19 to January 28, the Tokens were under close scrutiny due to concerns about conflicts of interest and corruption. When then-President Trump announced the TRUMP Token, both faced accusations from U.S. lawmakers. One senator called for impeachment after Trump announced he would invite some TRUMP Token holders to a private dinner.

Token Price Drops Sharply And Criticism From Lawyers

The price of Tokens has rapidly decreased after their launch. Melania's Token has dropped to 0.31 USD, while the TRUMP Token has also decreased to 10.90 USD on May 6th. Two companies related to Trump control about 80% of the TRUMP Token supply, although many Tokens are still locked and will be released over the next three years. Critics argue that the project could harm investors.

The Controversial Path of Trump's Cryptocurrency Project

Projects related to Trump and cryptocurrency have raised many questions about conflicts of interest and insider trading. Despite the criticisms, public interest in memecoins continues to rise. However, the long-term viability of these coins remains a big question mark.

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