A Could 6 report from the Monetary Occasions alleges {that a} cluster of merchants bought Melania Trump’s $MELANIA meme coin simply two and a half minutes earlier than the First Girl’s January 19 Reality Social put up, which unveiled the namesake cryptocurrency.
$MELANIA Makes Headlines
In line with the London-based media outlet’s report, 24 wallets purchased $2.6 million value of $MELANIA roughly 150 seconds forward of Trump’s Reality Social announcement, with the merchants incomes practically $100 million.
A small group of merchants earned a $99.6mn windfall by shopping for Melania Trump’s cryptocurrency token within the minutes earlier than it was made public, an evaluation by the Monetary Occasions has discovered. https://t.co/KqsDps49lU pic.twitter.com/05KM9QeTBj
— Monetary Occasions (@FT) Could 6, 2025
The Monetary Occasions claims that many of the merchants’ meme coin earnings have been finally exchanged for USDC, although simply who was behind the wallets remains to be unknown.
The launch of $MELANIA and U.S. President Donald Trump’s $TRUMP coin simply days forward of his inauguration this previous January has raised eyebrows amongst his political opponents on Capitol Hill and within the cryptocurrency group, notably regarding presidential ethics.
Trump’s Ties To Crypto Below Scrutiny
Trump is slated to host an unique dinner for the highest 220 $TRUMP buyers at Trump Nationwide Golf Membership in Washington, D.C., later this month, prompting a number of U.S. lawmakers to query the character of the occasion.
Senators Elizabeth Warren (D-MA) and Adam Schiff (D-CA) referred to as on Jamieson Greer, the performing director of the U.S. Workplace of Authorities Ethics, to launch an “pressing inquiry” into Trump’s crypto enterprise in an April 25 letter.
“The American individuals deserve the unwavering assurance that entry to the presidency shouldn’t be being provided on the market to the best bidder in trade for the President’s personal monetary acquire,” the U.S. lawmakers mentioned.
On Tuesday, rating member of the U.S. Senate Everlasting Subcommittee on Investigations (PSI), Senator Richard Blumenthal (D-CT), introduced that the group would launch a “preliminary inquiry” into U.S. President Donald Trump’s ties to the crypto trade.
“President Trump’s monetary entanglements to the $TRUMP coin, in addition to the tried use of the White Home to host competitions to prop up the worth of $TRUMP, characterize an unprecedented, pay-to-play scheme to supply entry to the Presidency to the best bidder,” Blumenthal mentioned.
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