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MELANIA Token Issuer Meteora Executive Accused by Investors
BlockBeats News, October 22nd, according to court documents, former First Lady Melania Trump's January-launched Meme coin MELANIA's issuer Meteora's executives have been sued, accused of organizing the token issuance knowing it would experience a sharp drop. On January 19th, the day before Trump's inauguration as President of the United States, the Meme coin MELANIA was issued at a few cents per coin, subsequently skyrocketing to $13.73, currently trading at less than one percent of its peak price.
Investors accuse the executives of the Meme coin MELANIA's initial issuance platform Meteora of orchestrating a scheme to dump and profit massively while causing a price crash. According to a survey published last week by the Financial Times, the Trump family has made over $1 billion in pre-tax profits in the past 12 months through various cryptocurrency-related products and companies. In the latest filings in the Southern District of New York court, the plaintiffs stated that they do not believe First Lady Melania is "guilty," but they accuse the cryptocurrency company of using her and other public figures as a "front" for their crimes. Meteora has not yet responded to requests for comment.
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