MELANIA Meme Coin: Issues and Controversy

user avatar

by Giorgi Kostiuk

2 years ago

Messari founder Ryan Selkis urges President-elect Donald Trump to dismiss the team behind the MELANIA meme coin due to poor execution and financial implications for Trump.

Meme Coins Market Collision

On January 19, Selkis criticized the MELANIA project launch on X, noting it led to the TRUMP token’s value dropping by 50%, resulting in substantial financial losses.

Launch Criticism

Following its debut, TRUMP's market value hit $15 billion, threatening to become one of the top ten cryptocurrencies by market cap. However, after MELANIA's unveiling, TRUMP declined from $75 to about $38. Selkis voiced frustration over the lack of crypto-native expertise within Trump’s advisory circle.

He expressed willingness to help the new administration avoid similar mistakes in the future.

Greed Suspicions

Delphi Labs founding partner José Maria Macedo speculated that MELANIA's launch was driven by greed. He cited the token's unusual economic model and suspicious trading activities as potential supporting evidence.

The MELANIA meme coin situation highlights criticism and suspicions regarding insufficient expertise and potential vested interests, emphasizing the importance of thorough analysis and transparency in crypto initiatives.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Grayscale Appoints BitGo as Custodian for Hyperliquid Staking ETF

Grayscale has appointed BitGo Bank Trust as an additional custodian for its Hyperliquid Staking ETF to enhance custody services and operational flexibility.

user avatarAndrew Smith

Avalanche Sees Surge in Tokenized US Treasury Assets

The value of tokenized US Treasury assets on the Avalanche network has surged to approximately $545 million, marking a fourfold increase over the past year.

user avatarJacob Williams

Metaplanet Shows Liquidity Management with Strategic Bitcoin Transactions

Metaplanet sold 10,000 BTC for approximately $790 million and bought back 11,000 BTC for around $950 million, demonstrating its ability to manage liquidity effectively.

user avatarSon Min-ho

Navra Secures $19 Million in Series A Funding to Bridge Traditional Finance and Blockchain

Navra, a startup led by Mike Cagney, has successfully raised $19 million in Series A funding to enhance access to blockchain-based financial markets for traditional investors.

user avatarZainab Kamara

Arbitrum Proposes Strategic Initiative for USDG Stablecoin

Arbitrum has proposed a governance initiative to back USDG as a core strategic stablecoin within its ecosystem, including adding 100 million ARB to enhance liquidity and adoption.

user avatarTando Nkube

BitGo and HashKey Cloud Expand Partnership in Asia-Pacific

BitGo and HashKey Cloud have expanded their partnership to cover multiple areas of institutional crypto infrastructure, including staking, trading, custody, and asset tokenization in Singapore.

user avatarAyman Ben Youssef

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.