Melania Trump Token Traders Netted $100 Million After Rapid Buys Minutes Before Public Launch

A group of cryptocurrency traders reportedly made nearly $100 million by purchasing Melania Trump's memecoin tokens just minutes before the first lady publicly announced their launch, according to the New York Post. Roughly two dozen wallets acquired $2.6 million worth of tokens in the two-and-a-half minutes before her January 19th Truth Social post. They sold 81% of their holdings within 12 hours as the token surged in value. The coin's pre-launch activity raised concerns about manipulation. Hayden Davis, a crypto entrepreneur connected to early trades, denied profiting from insider access. Entities behind the token also earned about $64.7 million in fees and sales. A spokesperson for Melania Trump declined to comment.