News@lemmy.worldEnglish · 1 day ago

Melania Trump’s meme coin architects accused of pump-and-dump fraud in lawsuit

www.theguardian.com

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Melania Trump’s meme coin architects accused of pump-and-dump fraud in lawsuit

www.theguardian.com

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News@lemmy.worldEnglish · 1 day ago

First lady not named in suit in which investors allege Meteora platform created crypto they knew would plummet

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.

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6 hours ago
Actually it sounds like most of those that did, also knew it would plummet, they just thought they’d be the ones to cash out at the top

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