The post Insiders made $100 million on MELANIA token minutes before Melania Trump’s post appeared on BitcoinEthereumNews.com.

The Financial Times has uncovered how insiders made $99.6 million on the MELANIA memecoin. According to the report, the insiders bought the token a few minutes before its official launch and cashed out big on the trade. The report identified 24 addresses that bought 16.77 million of the Melania Trump-affiliated tokens for $2.6 million within two and a half minutes before she posted it on her Truth Social account. Melania shared details of the token late on January 19, causing a trading frenzy in the crypto market as MELANIA’s price rose significantly. Interestingly, most of the addresses sold off the token quickly after the announcement, capitalizing on the momentum to earn massive profits. The Financial Times report noted that 81% of the sell-offs happened within 12 hours of the announcement. In one case, an address spent $681,000 on the memecoin just 64 seconds before the announcement. By the end of the 12 hours after the launch, the address had made $39 million in profits from selling most of the tokens they bought. The same address made an extra $4.4 million by selling the rest of its holdings within three days. The report raised questions about insider trading and the possibility of a crime. However, recent guidance from the Securities and Exchange Commission (SEC) says memecoins are collectibles, not securities, so rules on insider trading and disclosures for promoters may not apply. MELANIA team still dumping the memecoin Meanwhile, the report only adds to the existing controversies around the MELANIA memecoin. The token, which is currently trading at $0.3184, has been on a steady decline due to massive sell-offs by the team for more than one month. Since March 16, the MELANIA team has transferred more than 41.675 million MELANIA tokens from community and liquidity addresses, selling them off on exchanges…

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Filed under: News - @ May 6, 2025 2:27 pm