First lady not named in suit in which investors allege Meteora executives created coin they knew would plummet
The designers of a cryptocurrency launched by the US first lady, Melania Trump, in January were accused in court filings on Tuesday of orchestrating a pump-and-dump scheme.
The $MELANIA coins were released for just a few cents each on 19 January, the day before Donald Trump was inaugurated as US president. In addition to $MELANIA, Donald Trump launched $TRUMP a few hours before his inauguration.
Within hours, the $MELANIA coin’s price soared to $13.73.
Anyone who legitimately thought this was going to be anything other than a way to give money to the trump clan while avoiding bribery laws is not the ones it was meant for.
Those who it was meant for kept receipts of their holdings and those will be good for favors later on.