All members of the Trump family have been accused of being grifters, from the President himself to his wife, Melania, and his son, Donald Jr. However, with her most recent product for sale, Melania might’ve proven herself the biggest grifter of them all. The First Lady announced the release of her crypto meme, “Melania Meme,” a digital collectible, back in January, and now crypto traders have launched a lawsuit claiming the memecoin is a fraud. Keep reading for more information.
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Melania's Crypto Meme Is Fraudulent, Lawsuit Claims
Shortly after her husband's inauguration back in January, Melania took to her X account to announce the release of her memecoin. "The Official Melania Meme is live!" she wrote. "You can buy $MELANIA now." She also attached a link—melaniameme.com—that explains exactly what it is she's selling.
"Melania memes are digital collectibles intended to function as an expression of support for and engagement with the values embodied by the symbol MELANIA," the website description reads. One Melania meme costs you a whopping $235.21.
However, a lawsuit recently brought by cryptocurrency traders now alleges that Melania's memecoin, along with a few others, is part of a fraudulent "pump-and-dump" scheme that manipulated the coins' release to personally enrich their developers and causing others to lose their investments.
The lawsuit does not allege that Melania had anything to do with orchestrating the fraud, rather calling her a "window dressing" to the fraud scheme by lending her credibility with her endorsement.
Social Media Reactions
Regardless of her role in the fraud scheme, online social media users are still furious with the First Lady for grifting for money in the first place. When the news of the lawsuit came out, individuals took to X to share their thoughts. "No surprise...." one person tweeted. "#TrumpCrime Family always involved in fraud/scamming. Melania Trump is a big-time grifter."
"It's wild how the US is starting to feel like 90s Russia," one person pointed out. "Politically backed pyramid schemes are here—what's next?"
"The scammiest first family ever," one user added.
"Not sure how this helps the crypto space at all," a final user posted. "This is an embarrassment for the United States."
