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Today's Top Crypto Headlines:
Trump Memecoin Greed | $TRUMP Drops | Insider Trading Allegations and more...
King Fatrick Gil Añasco
January 20, 2025
Good Morning Crypto Enthusiasts!
Glad to have you back for another edition of the UseTheBitcoin.com newsletter.
Trump Memecoin Greed Accusations: Donald and Melania Trump’s memecoins have reached a combined $16 billion market cap, but critics accuse them of running a "pump and dump" scheme.
Trump's Memecoin Drops: TRUMP memecoin fell 38% after Melania Trump's MELANIA token launch, which quickly hit a $6 billion market cap.
💡Feature of the Day - TRUMP Insider Trading Allegations: TRUMP memecoin faces insider trading accusations after a wallet linked to early funding made suspicious trades, turning $1 million into $20 million.
All this and more in today’s headlines!
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📰 News Highlights:
Donald and Melania Trump-backed memecoins, launched over the weekend, have collectively reached over $15 billion in market value.
Trump’s credibility has been totally destroyed entering the inauguration because fucking $TRUMP and fucking $MELANIA.
Like and repost if you understand this.
— Michael A. Gayed, CFA (@leadlagreport)
10:11 PM • Jan 19, 2025
Critics accuse the Trumps of running a "pump and dump scheme" as back-to-back launches significantly increased their net worth.
We are witnessing the largest unforced error ever made before a Presidential inauguration…unbelievable.
— Edward Dowd (@DowdEdward)
9:36 PM • Jan 19, 2025
Following the success of Trump's Official Trump (TRUMP) token, which hit a $15 billion market cap, Melania Trump launched her own memecoin, drawing further scrutiny.
You were right if you thought the smashing success of $TRUMP would make Trump greedy.
He tried to double down with a $MELANIA, but the market thinks it is a form of dilution and assumes/fears that Trump has tons of other coins in the wings to come.
— Jim Bianco (@biancoresearch)
11:22 PM • Jan 19, 2025
Crypto expert José Maria Macedo suggested insiders may have underestimated TRUMP's success and rushed MELANIA to maximize profits, inadvertently harming their reputation.
My read is that the insiders who helped launch $TRUMP didn't realise how much it would pump and either didn't buy enough or sold too early
So they rushed to run it back with $MELANIA and make sure they filled their bags this time (very visible in the chart)
In their greed they… x.com/i/web/status/1…
— José Maria Macedo (@ZeMariaMacedo)
10:13 PM • Jan 19, 2025
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Donald Trump's TRUMP memecoin saw a 38% drop in value after his wife, Melania Trump, launched her own token, MELANIA, which quickly hit a $6 billion market cap.
The Official Melania Meme is live!
You can buy $MELANIA now.
Melaniameme.com
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P
— MELANIA TRUMP (@MELANIATRUMP)
9:13 PM • Jan 19, 2025
Mrs. Trump promoted the token in a Jan. 19 X post shared by Donald Trump.
So this Melania meme site was setup yesterday, has no cloudflare protection, and has some half-assed frontend code.
So yeah, people are definitely grifting here. At least the Trump coin was planned weeks in advance.
— cygaar (@0xCygaar)
10:22 PM • Jan 19, 2025
A website for MELANIA claims the token aims to promote "support" and "engagement" rather than investment opportunities.
JUST IN: 🇺🇸 The bubble map of $MELANIA does NOT match the distribution on their website
— Bubblemaps (@bubblemaps)
9:41 PM • Jan 19, 2025
However, blockchain analytics firm Bubblemaps revealed that nearly 90% of MELANIA's supply is held in a single wallet, raising concerns about transparency.
This Melania coin which launched a few minutes ago (and is worth a few billion) appears to be structured differently than TRUMP.
Creator wallet was funded by a wallet that traded on PumpFun, and there is no sign of a multisig (Trump had one setup pre-launch)
— Conor (@jconorgrogan)
9:43 PM • Jan 19, 2025
💡 Feature of the Day:
Concerns of insider trading have surfaced as Donald Trump's TRUMP memecoin soared to a $42 billion market cap.
suspicious trades on $TRUMP? 🚨
address 6QSc2 was funded 4 hours before launch and bought $1M in the FIRST minute
they sold $20M and still hold $96M 🧵
— Bubblemaps (@bubblemaps)
5:52 PM • Jan 18, 2025
Onchain analytics firm Bubblemaps reported suspicious activity from a wallet funded with $1 million just hours before TRUMP's launch.
In under 1 minute after launch, address 6QSc2 bought 5.9M $TRUMP and sent it all to ff.sol (5CP6z).
From there, the tokens were distributed across 10 addresses, which are now actively selling on the market:
• 2RssnB7hcrnBEx55hXMKT1E7gN27g9ecQFbbCc5Zjajq
•… x.com/i/web/status/1…— Bubblemaps (@bubblemaps)
5:52 PM • Jan 18, 2025
The wallet purchased $5.9 million worth of tokens early on and later sold $20 million, still holding $96 million in tokens, raising market manipulation fears.
Trump coin is such an extreme case of shitcoinery it will ultimately help differentiate Bitcoin further.
“Trumpcoin is a get rich quick scheme, it’s nothing like bitcoin”
— Brandon Quittem (@Bquittem)
10:40 PM • Jan 18, 2025
Major exchanges, including Coinbase and Binance, have listed TRUMP, fueling further hype.
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— The ₿itcoin Therapist (@TheBTCTherapist)
4:37 PM • Jan 14, 2025
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And that’s it for this today.
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See you all tomorrow’s edition!
Jonathan Gibson
UseTheBitcoin.com