Group of traders made nearly $100M from Melania Trump memecoin

A Financial Times report revealed that a small group of crypto traders profited about $100 million by purchasing $2.6 million worth of Melania Trump’s memecoin just minutes before its public announcement on January 19, 2025.

The token price surged from around $2.00 to $12.95 shortly after Melania Trump posted about the launch on social media, representing a 550% increase.

These traders sold most of their holdings within 12 hours, capitalising on the rapid price rise.

The FT detailed that 24 accounts bought 16.7 million of the 200 million tokens allocated for sale during the launch period, with further purchases by other accounts immediately after the announcement.

This pre-launch trading activity contrasts with the launch of Donald Trump’s TRUMP (CRYPTO:TRUMP) token two days earlier, which did not show similar early accumulation.

The memecoins have drawn scrutiny from lawmakers concerned about conflicts of interest and potential corruption, especially after announcements linking token holders to private events with the president.

Both tokens have since experienced significant price declines, with MELANIA (CRYPTO:MELANIA) trading near $0.31 as of early May 2025.

Blockchain analysis linked some of the early buyers to ventures associated with Texas-based crypto entrepreneur Hayden Davis, though he denied profiting from the token’s launch.

Organisers behind MELANIA, operating through Delaware-based MKT World LLC, reportedly withdrew $64.7 million from primary sales and fees, separate from the profits made by early traders.

The First Lady has not publicly commented on the token’s market activity or governance.

As the Financial Times noted, “the run of sales that started pre-launch continued,” highlighting concerns over insider knowledge and market fairness in the memecoin’s release.