Trump Accused Of Greed Over $TRUMP, $MELANIA Coins

Donald Trump And Family Slammed For ‘’Greed’’ Over $TRUMP And $MELANIA Meme Coin Launches

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Updated: 20 January 2025

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Incoming US President Donald Trump is facing a backlash over allegations of greed following the consecutive launches of the $TRUMP and $MELANIA meme coins over the weekend.

“Launching a second meme coin so quickly after $TRUMP’s success reeks of greed,” said Jim Bianco, president of Bianco Research, in a post on X. “It’s clear the goal was to maximise profit rather than create value.”

Both meme coins skyrocketed thousands of percent on launch and added billions to the wealth of the soon-to-be first family. Both tokens now rank among the top 10 meme coins, with TRUMP placed 3rd with a market capitalization of $10.68 billion and $MELANIA 7th with a market cap of $1.74 billion, according to CoinGecko.

The hasty development of $MELANIA, with its launch coming a little more than a day after $TRUMP, prompted criticism over the lack of planning and foresight from the team.

Trump backer and former Messari CEO Ryan Selkis said that the president-elect should “fire” whoever launched the $MELANIA meme coin.

Dear @realDonaldTrump:

Please fire whoever recommended going forward with the Melania launch today.

1. They don’t know what they’re doing.
2. They cost you a lot of $ and goodwill.
3. They don’t have your interests in mind.

— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) January 19, 2025

He argued that the team “don’t know what they’re doing” and don’t have Trump’s best interests in mind.

Trump Team Being Called Greedy For Launching A Second Meme Coin

The incoming president announced the launch of Official Trump (TRUMP) over the weekend. This new crypto gained instant traction in the market, with its price skyrocketing from a debut value of $0.18 to trade at $58.87 as of 2:00 a.m. EST.

TRUMP’s bullish momentum then cooled off after the launch of Melania Meme (MELANIA). Some industry observers say the second token was created and deployed out of greed.

“You were right if you thought the smashing success of $TRUMP would make Trump greedy,” Bianco Research president Jim Bianco said on X.

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. https://t.co/t8AvVLZ0I3

— Jim Bianco (@biancoresearch) January 19, 2025

The move appeared to partially backfire, at least at first, with $TRUMP plummeting after the launch of $MELANIA on fears of dilution. $TRUMP has plunged 24% in the past 24 hours.

According to Delphi Labs co-founder José Maria Macedo, the new token was launched by “insiders who helped launch $TRUMP” and either felt they didn’t buy enough $TRUMP or sold too early.

“They rushed to run it back with $MELANIA and make sure they filled their bags this time,” Marcedo said. ”In their greed they nuked $30b of value, transformed the optics into pure grift, and probably committed a bunch of crimes too.”