Trump has been accused of greed, announcing back-to-back memecoin launches.
Donald Trump and his team have been accused of running a “pump and dump scheme” after back-to-back memecoin launches added billions to the fortunes of the incoming US president and first lady.
A day after Trump's self-branded TRUMP token launched and grew to a $15 billion market cap, Trump's wife Melania launched her own memecoin — prompting analysts to accuse the family of inappropriate behavior.
“If you thought the success of the $TRUMP crash would make Trump greedy, you were right,” said Jim Bianco, president of Bianco Research, following the launch of Mrs. Trump's tokenism.
“He tried to double down on $ MELANIA, but he thinks the market is kind of melting and Trump thinks/fears he has a lot of other coins in the wings to come.”
The TRUMP token dropped 38% in the hours after his wife's token was launched. Melania had a net worth of more than $13 billion just four hours after her January 19 launch.
In response to TRUMP's rate cuts, Edward Dowd, founder of Finance Technologies, wrote on X: “We are witnessing the biggest unfettered mistake ever made before a president's inauguration…. Unbelievable,” he said.
We're witnessing the biggest blunder ever made before a presidential inauguration…unbelievable. https://t.co/hdj0hkoubv
— Edward Dowd (@DowdEdward) January 19, 2025
Financial analyst Michael A. Gide said on X that Trump's credibility has been “totally destroyed,” describing TRUMP as a “pump and dump” scheme.
“My read is that the insiders who helped launch $TRUMP didn't realize how much they were pouring and didn't buy enough or sell too early,” Delphi Labs founder Jose Maria Macedo wrote in a Jan. 19 X post. .
He added: “They're in a rush to run $ MELANIA and make sure they fill their wallets this time.” “They are greedy for $30. [billion] Worthy, he turned the optics into pure obscurity, and probably committed many crimes.
Melania's memecoin launch comes amid a broader crypto market slump, which has seen the price of Bitcoin (BTC) fall 6% from $105,900 to below $99,650, TradingView data shows.
Crypto token price change in the last 24 hours. Source: Crypto Bubbles
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Ryan Selkis, a Trump supporter and former CEO of the crypto research firm Messari, said that anyone who started Melania memecoin should “fire” the president, saying that “they don't know what they're doing” and that they don't have Trump's best. needs in mind.
Despite the criticism, Melania and Trump have attracted the attention of traders as few tokens, the pair now have a combined market value of more than $16 billion.
Journal: Bitcoin and the Quantum Computing Threat: Timeline and Solutions (2025–2035)
