00:00The internet is not happy with Melania Trump after a lawsuit alleges her crypto meme is fraud.
00:06Melania is a big-time grifter.
00:09The first lady announced the release of her crypto meme, Melania Meme, a digital collectible, back in January.
00:15And now crypto traders have launched a lawsuit claiming the meme coin is a fraud.
00:19Shortly after her husband's inauguration back in January, Melania took to her ex-account to announce the release of her meme coin.
00:26The official Melania Meme is live, she wrote.
00:29She also attached a link, MelaniaMeme.com, that explains exactly what it is she's selling.
00:35Melania memes are digital collectibles intended to function as an expression of support for an engagement with the values embodied by the symbol Melania, the website description reads.
00:46One Melania meme costs you a whopping $235.21.
00:50However, a lawsuit recently brought by cryptocurrency traders now alleges that Melania's meme coin, along with a few others, is part of a fraudulent pump-and-dump scheme that manipulated the coin's release to personally enrich their developers and causing others to lose their investments.
01:07The lawsuit does not allege that Melania had anything to do with orchestrating the fraud, rather calling her a window dressing to the fraud scheme by lending her credibility with her endorsement.
01:18Regardless of her role in the fraud scheme, online social media users are still furious with the first lady for grifting for money in the first place.
01:25It's wild how the U.S. is starting to feel like 90s Russia, one person pointed out.
01:31Politically backed pyramid schemes are here, and what's next?
01:34Not sure how this helps the crypto space at all.
01:37A final user posted.
01:38This is an embarrassment for the United States.
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