During the weekend, the new meme coin launched by President Trump and the First Lady caught many people off guard. But some traders had placed big bets early and reaped the rewards.
When Trump launched his own meme coin on Friday, many people quickly made a lot of money - but at least one trader made a lot more by betting much faster than most.
On Friday, four hours before Trump announced the launch of his own Solana meme coin TRUMP, an anonymous user recharged over 1 million SOL in a brand new crypto wallet (6QSc2) and waited for it to appreciate.
On Friday night, Trump announced the issuance of meme coins on Truth Social, and within 30 seconds, the wallet purchased over 5.9 million TRUMP tokens. Within a few hours, the value of these tokens exceeded $116 million.
According to the analysis of the blockchain research company Bubblemaps, the trader then divided a large amount of TRUMP tokens into 10 different Solana wallets and started selling a large amount the next day. According to Bubblemaps, as of Monday morning, the trader had sold $85 million worth of TRUMP, and still held an additional $75 million. Currently, blockchain data shows that these wallets collectively only hold $18 million worth of meme coins, and the trader has probably sold off most of the position.
BIG UPDATE:
our trader sold $85M and still holds $75M of $TRUMP
However, the story does not end there. On Sunday, First Lady Melania (Melania Trump) followed suit with her husband and launched her own meme coin - this lucky trader arrived early again. Within a minute and a half after the First Lady posted about the MELANIA token on Truth Social, and a minute before the information about the token was released to X, one of the wallets associated with that user bought a large amount of MELANIA tokens.
According to Bubblemaps, traders sold $45 million worth of TRUMP tokens, apparently to build a large MELANIA position, which caused the TRUMP tokens to plummet nearly 50% within a few minutes on Sunday afternoon.
Rumors abound on X about early buyers of several TRUMP tokens profiting handsomely, leading to suspicions of widespread insider trading. Decrypt cannot confirm any insider information, but the large number of associated wallets with the '6QSc2' account is enough to raise eyebrows.
Considering that this trader placed such a large buy order before most cryptocurrency users became aware of this news and realized that it was not a carefully planned hacking attack, it is bound to raise suspicions.
However, it is also possible that this trader happened to appear in the right place at the right time, just built a new wallet, and made the right decision in time. The transaction history of the associated wallet shows that this user has been buying and selling a large amount of meme coins, at least in the past three months. This trader even bought some when Hawk Tuah's meme coin was released.
However, it is also possible that this trader has a wide network and has received the news of the upcoming release of the Trump meme coin. If there is indeed insider information, then the leak may not necessarily come from Trump's inner circle or the crypto team.
Last weekend, several decentralized finance projects on Solana (such as Jupiter, Meteora, and Moonshot) revealed that they had collaborated in advance with the Trump Token team to ensure a smooth release.
The token has led to unprecedented levels of activity on the Solana network, requiring many people to work together to ensure that the infrastructure is functioning properly. However, it is currently unclear how many employees of these projects were aware of the token's plans ahead of time, and there is currently no evidence that any provider engaged in improper behavior.
We worked closely with the @MeteoraAG team on ensuring an S tier launch for $TRUMP which is obviously one of the biggest launches in the history of crypto.
Thanks to the full scale efforts of the teams, trading and verification went smoothly as it could have, not just on…
— Jupiter (@JupiterExchange) January 18, 2025
However, at least one well-known cryptocurrency figure seems to have publicly boasted about receiving insider information about the upcoming MELANIA token. Ran Neuner, co-founder and CEO of blockchain investment fund Onchain Capital, acknowledged this in a post on X on Monday, lamenting that the Trump family is now "sacrificing the cryptocurrency community in order to deceive".
I was ok with the $TRUMP coin because of the signal it sent to the world! After $MELANIA, it’s clear that they are now grifting at the expense of the entire crypto community – sucking liquidity out of the rest of the market.
Don’t get me wrong, as my timeline shows, I know…
— Ran Neuner (@cryptomanran) January 20, 2025
"Don't get me wrong," Neuner wrote, "As my schedule shows, I knew about the MELANIA token before its release, and I obviously profited from it."
In fact, Neuner publicly announced the upcoming launch of the MELANIA token before the First Lady's first announcement about the token on Truth Social, almost 90 minutes ago.
I contacted Neuner for the Decrypt post, but did not receive a response.
On Tuesday, Trump's token rose 8% to $43.94 as of the writing of this article. The fully diluted value of the token still exceeds $43 billion. Meanwhile, MELANIA fell nearly 24% that day to $4.60 as of the writing of this article, with a fully diluted value of $4.6 billion.
(The above content is excerpted and reproduced with the authorization of partner PANews, original link |.) Source: BitpushNews)
Statement: The article only represents the author's personal opinions and does not represent the views and position of Blocklike. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and trades, and the author and Blocklike will not be responsible for any direct or indirect losses incurred by investors.
The mysterious user made over $100 million by betting on TRUMP, was it 'luck' or 'insider trading'? This article was first published in Blocklike.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Is the mysterious user who made over 100 million US dollars relying on TRUMP's luck or insider trading?
Source: Sander Lutz, Decrypt
Compiled by BitpushNews
During the weekend, the new meme coin launched by President Trump and the First Lady caught many people off guard. But some traders had placed big bets early and reaped the rewards.
When Trump launched his own meme coin on Friday, many people quickly made a lot of money - but at least one trader made a lot more by betting much faster than most.
On Friday, four hours before Trump announced the launch of his own Solana meme coin TRUMP, an anonymous user recharged over 1 million SOL in a brand new crypto wallet (6QSc2) and waited for it to appreciate.
On Friday night, Trump announced the issuance of meme coins on Truth Social, and within 30 seconds, the wallet purchased over 5.9 million TRUMP tokens. Within a few hours, the value of these tokens exceeded $116 million.
According to the analysis of the blockchain research company Bubblemaps, the trader then divided a large amount of TRUMP tokens into 10 different Solana wallets and started selling a large amount the next day. According to Bubblemaps, as of Monday morning, the trader had sold $85 million worth of TRUMP, and still held an additional $75 million. Currently, blockchain data shows that these wallets collectively only hold $18 million worth of meme coins, and the trader has probably sold off most of the position.
BIG UPDATE:
our trader sold $85M and still holds $75M of $TRUMP
他在梅蘭妮亞的貼文後立刻拋售，導致價格下跌50%，pic.twitter.com/b24gXVJ69R
— Bubblemaps (@bubblemaps) January 20, 2025
However, the story does not end there. On Sunday, First Lady Melania (Melania Trump) followed suit with her husband and launched her own meme coin - this lucky trader arrived early again. Within a minute and a half after the First Lady posted about the MELANIA token on Truth Social, and a minute before the information about the token was released to X, one of the wallets associated with that user bought a large amount of MELANIA tokens.
According to Bubblemaps, traders sold $45 million worth of TRUMP tokens, apparently to build a large MELANIA position, which caused the TRUMP tokens to plummet nearly 50% within a few minutes on Sunday afternoon.
Rumors abound on X about early buyers of several TRUMP tokens profiting handsomely, leading to suspicions of widespread insider trading. Decrypt cannot confirm any insider information, but the large number of associated wallets with the '6QSc2' account is enough to raise eyebrows.
Considering that this trader placed such a large buy order before most cryptocurrency users became aware of this news and realized that it was not a carefully planned hacking attack, it is bound to raise suspicions.
However, it is also possible that this trader happened to appear in the right place at the right time, just built a new wallet, and made the right decision in time. The transaction history of the associated wallet shows that this user has been buying and selling a large amount of meme coins, at least in the past three months. This trader even bought some when Hawk Tuah's meme coin was released.
However, it is also possible that this trader has a wide network and has received the news of the upcoming release of the Trump meme coin. If there is indeed insider information, then the leak may not necessarily come from Trump's inner circle or the crypto team.
Last weekend, several decentralized finance projects on Solana (such as Jupiter, Meteora, and Moonshot) revealed that they had collaborated in advance with the Trump Token team to ensure a smooth release.
The token has led to unprecedented levels of activity on the Solana network, requiring many people to work together to ensure that the infrastructure is functioning properly. However, it is currently unclear how many employees of these projects were aware of the token's plans ahead of time, and there is currently no evidence that any provider engaged in improper behavior.
We worked closely with the @MeteoraAG team on ensuring an S tier launch for $TRUMP which is obviously one of the biggest launches in the history of crypto.
Thanks to the full scale efforts of the teams, trading and verification went smoothly as it could have, not just on…
— Jupiter (@JupiterExchange) January 18, 2025
However, at least one well-known cryptocurrency figure seems to have publicly boasted about receiving insider information about the upcoming MELANIA token. Ran Neuner, co-founder and CEO of blockchain investment fund Onchain Capital, acknowledged this in a post on X on Monday, lamenting that the Trump family is now "sacrificing the cryptocurrency community in order to deceive".
I was ok with the $TRUMP coin because of the signal it sent to the world! After $MELANIA, it’s clear that they are now grifting at the expense of the entire crypto community – sucking liquidity out of the rest of the market.
Don’t get me wrong, as my timeline shows, I know…
— Ran Neuner (@cryptomanran) January 20, 2025
"Don't get me wrong," Neuner wrote, "As my schedule shows, I knew about the MELANIA token before its release, and I obviously profited from it."
In fact, Neuner publicly announced the upcoming launch of the MELANIA token before the First Lady's first announcement about the token on Truth Social, almost 90 minutes ago.
I contacted Neuner for the Decrypt post, but did not receive a response.
On Tuesday, Trump's token rose 8% to $43.94 as of the writing of this article. The fully diluted value of the token still exceeds $43 billion. Meanwhile, MELANIA fell nearly 24% that day to $4.60 as of the writing of this article, with a fully diluted value of $4.6 billion.
(The above content is excerpted and reproduced with the authorization of partner PANews, original link |.) Source: BitpushNews)
Statement: The article only represents the author's personal opinions and does not represent the views and position of Blocklike. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and trades, and the author and Blocklike will not be responsible for any direct or indirect losses incurred by investors.
The mysterious user made over $100 million by betting on TRUMP, was it 'luck' or 'insider trading'? This article was first published in Blocklike.