The Financial Times revealed how the initiates won $ 99.6 million on Melania Memecoin. According to the report, the initiates bought the token a few minutes before its official launch and conceded a big problem on the trade.
THE report identified 24 addresses which bought 16.77 million tokens affiliated with Melania Trump for $ 2.6 million in two and a half minutes before publishing it on his social account Truth. Melania shared the details of the token at the end of January 19, causing a commercial frenzy on the cryptography market while the price of Melania increased considerably.
Interestingly, most of the addresses were quickly sold the token after the announcement, capitalizing on the momentum to make massive profits. The Financial Times report noted that 81% of sales occurred within 12 hours of the announcement.
In one case, an address spent $ 681,000 on the same 64 seconds before the announcement. At the end of the 12 hours after the launch, the address made $ 39 million in profits by selling most of the tokens they bought. The same address made an additional $ 4.4 million by selling the rest of its assets within three days.
The report raised questions about the initiate offense and the possibility of a crime. However, recent directives of the Securities and Exchange Commission (SEC) indicate that the same are collectibles, and not titles, therefore the rules on the offense of initiate and the disclosure against promoters may not apply.
Melania's team still throws the same
Meanwhile, the report only adds to existing controversies around Melania same. The token, which is currently negotiated at $ 0.3184, has been down constant due to massive sales of the team for more than a month.
Since March 16, the Melania team Transferred more than 41.675 million melania tokens for community addresses and liquidity, selling them on exchanges and the addition of unilateral liquidity. Thanks to sales, they made 170,000 soil worth $ 23.063 million and converted most of the ground into USDC or withdrawn the funds.
Despite the coherent sales that many in the cryptographic community have highlighted, there has been no official communication of the project or any affiliated person. MKT World LLC, a company based in Delaware listed as project marketing manager on its official website, is also silent on its role.
While the token continues to fall, lowering 44% in the last 30 days and exchanging 96% below its peak, the initiates and the team behind the project always earn money. Until now, the team has achieved more than $ 64.7 million in costs and sales.
The same people of the Trump family raise ethical concerns
Meanwhile, the same affiliated to the president, Trump, does not have the same problem of negotiation of initiates as Melania, probably because a different team launched it. According to the report, there was no pre-announcing purchase for Trump, and the first address bought it 42 seconds after its announcement on Truth Social.
Always, ethical concerns On the way in which the family of the American president took advantage of the same at the expense of others remain a major subject in the crypto and the political community. Financial Times said that the entities behind Trump have made at least $ 350 million in costs and primary sales since its launch.
At the same time, Trump is down 85.7% compared to its cutting prices and is currently negotiated at $ 10.59. Interestingly, the token had increased in value recently after announcing an exclusive dinner with the president for the 220 best holders.
However, he lost most of his earnings from this announcement, leaving more people with losses. A whale that sold the token before dinner announces and missed $ 3.8 million potentially bought the token a few days ago. However, he sold the tokens again, taking a loss of $ 900,000.
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