MET airdrop sparks backlash after Melania coin insiders cash in

Crypto analysts raised new concerns after two wallets connected to the Melania Trump meme coin received $1.23 million in Meteora tokens on ￰0￱ from SolScan shows that two wallets, ￰1￱ and melania-liquidity2. sol, received $784,200 and $454,724 worth of MET. However, the distribution drew online criticism, especially since Hayden Davis, the founder of Kelsier Ventures behind MELANIA’s debut, was among the recipients of the ￰2￱ says they’ve collaborated with Dethective and Rugcheck One X user commented , “Why is Hayden Davis getting a MET airdrop? You have to be kidding me,” referencing the Kelsier Ventures ￰3￱ another post, the user remarked, “Everyone, thank Meteora for giving Hayden Davis another $1,500,000,” adding that the funds were dispersed to other accounts through ￰4￱ an hour before the MELANIA wallets got their MET tokens, Meteora co-lead Soju defended the initiative, emphasizing that LIBRA’s launch wallets would not be rewarded in the ￰5￱ insisted that the company partnered with Dethective and Rugcheck to prevent tokens from falling into the hands of bad ￰6￱ airdrop timing comes on the heels of a court filing from investors alleging that Benjamin Chow, co-founder of Meteora, orchestrated a “scam coin” effort alongside Hayden Davis, involving no fewer than 15 tokens—including MELANIA, LIBRA, and ￰7￱ their lawsuit, investors alleged that the defendants secured the former First Lady’s backing for her cryptocurrency in a plan that used celebrity status to bypass ￰8￱ Melania Trump is not named as a defendant, Chow and Davis are accused of issuing meme coins, buying large amounts after launch, and then selling them at peak prices—triggering steep losses for those who bought in later.

Meteora’s airdrop includes three wallets connected to the Trump meme coin The controversy surrounding the Meteora airdrop highlights ongoing concerns in the cryptocurrency space regarding transparency, insider trading, and the use of celebrity ￰9￱ involvement of public figures like Melania Trump and Javier Milei has raised questions about the ethical implications of leveraging their names for financial gain without their explicit ￰10￱ two days following the release of President Trump’s meme coin , Melania Trump showed support for a Solana token branded with her name as its ￰11￱ briefly hit a market capitalization of almost $7 billion, only to tumble 99% in the months that followed, landing near $80 million.

A February meme coin backed by Argentina’s Javier Milei was later linked by Bubblemaps to MELANIA, triggering a class-action case accusing its creators of fraud and ￰12￱ Argentine president has launched a personal meme coin called $LIBRA , but its price collapsed soon after it hit the ￰13￱ far, the Meteora token distribution has received positive feedback from airdrop participants , who cited the smooth distribution process and substantial ￰14￱ is now the 269th-biggest coin, with a market capitalization of $263.2 million, according to CoinGecko. However, some users have also taken issue with Meteora’s decision to include three wallets connected to the Trump meme coin operation among the top airdrop ￰15￱ Intelligence reports that they received approximately $4.2 million in MET before transferring the tokens to ￰16￱ Trump meme coin hasn’t yet drawn lawsuits for fraud, but it has stirred political uproar over alleged conflicts of interest and possible foreign ￰17￱ $50 free to trade crypto when you sign up to Bybit now