Report on Insider Trading of MELANIA Token
On May 6, information was recorded regarding suspected insider trading on the first day the MELANIA Token of Melania Trump was listed. In the first 3 minutes after the launch announcement on January 19, over 20 digital wallets purchased a total of 2.6 million USD in tokens, and then sold 81% of their holdings within 12 hours to secure nearly 100 million USD in profits.
These wallets are linked to projects of Texas cryptocurrency entrepreneur, Hayden Davis. However, Davis denies involvement in profit-making when questioned by independent investigative journalists.
The organization behind MELANIA, MKT World LLC in Delaware, has withdrawn 64.7 million USD from primary sales revenue and transaction fees, not including 99.6 million USD obtained by early traders. Since 2021, Melania Trump has operated several businesses through MKT World, but the specific role or profit-sharing structure has not been clarified.
Melania has not commented on market activity or the governance of the token. Similar wallet patterns also emerged in the LIBRA scandal, indicating that the use of celebrities for cryptocurrency speculation is becoming common.
Despite existing legal loopholes and on-chain anonymity, this event highlights the increasing complexity of political branding in digital assets along with the challenges that retail participants face in the rapidly evolving cryptocurrency market.
Source: https://tintucbitcoin.com/loi-nhuan-100-trieu-usd-tu-token-melania-trump/
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