Mrs. Trump’s first foray into the crypto world—the recent, dubious launch of the MELANIA token—has raised eyebrows. The token’s sudden post-launch trading activity has attracted scrutiny over the possibility of an insider advantage and market manipulation. While the specifics of the token's governance, revenue distribution, and Melania Trump's direct earnings remain undisclosed, blockchain analysis has revealed intriguing connections.

MELANIA token structure includes a slow release of tokens over time. Only 3% of the tokens were released in February, with 2.25% released each month after that. Unfortunately, this measured and slow release schedule has done little to quiet the storm of speculation around the token.

Hayden Davis, a Texas-based crypto entrepreneur, has become something of a dark-horse success story. He was associated with the initial mass gathering of MELANIA tokens. Blockchain analysis shows links between Davis’s business dealings and the token’s earliest trading stages. This directly contradicts his statement that he has never made a dime off of the token.

In truth, the token did nothing but trade like a speculative asset. It skirted the boundary of what would trigger federal securities laws, which in turn facilitated the need for such an unstable market atmosphere. The price of MELANIA soared right after its release. This allowed some big traders to profit greatly from the price swings.

Data indicates that 81% of the profits associated with the token were realized within the first twelve hours of trading. The core team that managed the token’s first sales and transaction fees allegedly racked up more than $64 million. What’s more, the first round of traders collectively took home nearly $99.6 million in profit.

According to Inside Cryptofew wallets reportedly rushed to acquire $2.6 million in MELANIA within minutes. This increase came in the wake of Melania Trump’s Truth Social declaration on January 19. A small number of crypto wallets were able to rake in close to $100 million in illicit profits by trading the MELANIA token.

The token’s price finally bottomed out at approximately $0.32 after wallets linked to the developers allegedly liquidated more than 31 million tokens. This led to an unprecedented price crash from $13 all the way down to $0.38. Within the first day, MELANIA perpetual futures volume topped $50 billion.