Report: Insider trading before MELANIA launch, profit of about $100 million

Odaily News A group of cryptocurrency traders made around $100 million by buying $2.6 million worth of the memecoin before Melania Trump publicly launched it on January 19. After Trump announced the memecoin, its price surged 550% from around $2.00 to $12.95. Traders sold their holdings within 12 hours.
The report states that 24 accounts purchased the total planned issuance of 16.7 million MELANIA tokens, and within 42 seconds of the release, another 22 accounts purchased $900,000 worth of tokens.
Both the MELANIA token and Donald Trump's TRUMP token have come under scrutiny from lawmakers for potential conflicts of interest and corruption. Both tokens have seen significant price drops since their launch in January, with the MELANIA token priced at $0.31 and the TRUMP token at $10.90 at press time. (Cointelegraph)