The MELANIA memecoin launch turned into a textbook crypto nightmare. Insiders, including trader Hayden Davis, scooped up massive token positions minutes before the public release. One wallet transformed $40,000 into $2.5 million, while developer wallets dumped 31 million tokens during peak chaos. MKT World LLC walked away with $64.7 million as retail investors got crushed. The token crashed from $13 to $0.38, leaving a trail of questions about political crypto ventures that demands answers.
The MELANIA token launch reads like a masterclass in crypto manipulation. Just minutes before going public, select traders – including crypto entrepreneur Hayden Davis – scooped up massive holdings. One wallet dropped $40,000 two minutes before launch, flipping it for a cool $2.5 million profit. Talk about perfect timing. Almost too perfect.
After Melania’s announcement on Truth Social, the token price surged over 5000%, proving just how volatile these memecoins can be. The token’s first 24 hours were pure chaos. Trading volume exploded to $50 billion, crashing parts of the Solana network. MELANIA shot up to $13 before nosediving to $0.38, leaving retail investors holding very expensive bags. Meanwhile, developer wallets were busy dumping 31 million tokens. MKT World LLC pocketed a staggering $64.7 million from primary sales and fees. Subtle.
The mess got messier with the token release schedule. Starting February 19, organizers began distributing their massive 800 million token stash. Community funds mysteriously disappeared too – about $30 million worth of tokens vanished without explanation. Because apparently, transparency is optional in meme coin land. The scandal emerged just as Trump’s administration proposed a Strategic Bitcoin Reserve, signaling a dramatic shift in cryptocurrency policy.
This isn’t Davis’s first rodeo with politically-branded tokens. He was previously linked to $LIBRA, another controversy-magnet.
And the whole MELANIA affair follows a string of questionable Trump-family crypto ventures, including those NFT “philanthropy” campaigns that raised more eyebrows than funds.
Former CFTC chair didn’t mince words, blasting the use of presidential family likeness for what looks suspiciously like a pump-and-dump scheme.
But good luck getting regulators involved – the project sits in a convenient regulatory blind spot.
