A report by the Financial Times revealed that a group of crypto traders made a significant profit by purchasing millions of dollars worth of Melania Trump's memecoins just before she announced the launch on social media. The traders earned around $100 million by buying $2.6 million worth of MELANIA tokens before the public launch, leading to a 550% price surge. They sold their holdings within 12 hours, with 24 accounts acquiring 16.7 million tokens out of the 200 million available. The memecoin faced scrutiny for potential conflicts of interest and corruption, especially after Trump's announcement of his own TRUMP coin. Both tokens saw a drop in prices post-launch, with the MELANIA token currently at $0.31. Questions of insider trading and conflict of interest have been raised, with concerns about potential rug-pulling of investors by project insiders. Read more AI-generated news on: https://app.chaingpt.org/news