Crypto Controversy Alert! 🚨
Recent developments have stirred the crypto world as Davis, a key figure in both MELANIA and LIBRA memecoins, faces intense scrutiny.
The MELANIA Saga:
- Davis admits involvement with the MELANIA memecoin, linked to U.S. First Lady Melania Trump, claiming no liquidity was taken by the team.
- Contradictions arise as on-chain data suggests otherwise, sparking debates over transparency.
- MELANIA debuted with a market cap of $2.1 billion on Jan. 20, 2025, and is currently trading at $625 million.
- Early reports show a 24-hour trading volume of around $310 million, with a total supply of 1 billion tokens and 250 million initially in circulation.
LIBRA Turmoil:
- Davis insists the $100M in LIBRA is not a scam but a plan gone wrong.
- Barstool Sports' Dave Portnoy received a $5M refund after losing money on LIBRA, raising insider trading concerns.
- Davis defends 'insiders,' comparing the situation to business advantages in any industry.
The crypto community remains divided on whether these incidents represent typical business practices or unfair advantages. Stay tuned for more updates!