Melania Trump’s Crypto Architects Accused of Fraud in New Court Filings
The developers behind Melania Trump’s cryptocurrency, known as $MELANIA, are facing serious allegations of fraud and market manipulation, according to newly filed court documents in New York.
The filings, submitted Tuesday in Manhattan federal court, accuse executives from the Meteora cryptocurrency exchange platform of orchestrating a scheme that artificially inflated the value of the $MELANIA coin before allowing it to crash — leaving investors with massive losses.
Launched on January 19, 2025, just one day before Donald Trump’s presidential inauguration, the $MELANIA coin debuted at only a few cents per token. Within hours, its value skyrocketed to $13.73, drawing widespread attention in the crypto community. But the rally was short-lived. The coin’s price collapsed soon after and now trades at around 10 cents, representing less than one percent of its peak value.
Investors Claim Manipulation and Insider Trading
According to court documents, investors allege that Meteora executives and their associates secretly acquired large quantities of $MELANIA coins immediately after the launch, taking advantage of early access and inside knowledge.
The group allegedly sold their holdings at inflated prices during the initial surge, generating substantial profits and triggering a rapid price collapse that wiped out late investors. Plaintiffs argue the scheme was designed “to enrich insiders while defrauding the general public.”
The complaint, initially filed in April as part of a broader lawsuit against multiple cryptocurrencies, was expanded this week to include the $MELANIA coin.
Melania Trump Not Accused of Wrongdoing
Notably, the investors’ filing clarified that Melania Trump herself is not accused of any criminal involvement. The plaintiffs allege that her name and image were used by the crypto companies merely as “window dressing” to lend credibility and attract public attention.
The Meteora platform has not yet issued an official response to the allegations. Requests for comment from AFP reportedly went unanswered as of Tuesday evening.
Trump Family’s Growing Crypto Footprint
The case comes amid growing scrutiny of the Trump family’s involvement in cryptocurrency ventures. A recent Financial Times investigation revealed that the Trumps have collectively earned over $1 billion in pre-tax profits from various crypto-related projects and partnerships within the past year.
In addition to $MELANIA, Donald Trump himself launched a separate token, $TRUMP, on the same day, while World Liberty Financial (WLFI) — a company founded by his three sons — is currently selling its WLFI cryptocurrency valued at $550 million.
While no formal charges have been brought against the Trumps, analysts say the controversy highlights the growing intersection between politics, celebrity, and cryptocurrency speculation. The investigation into the alleged manipulation of $MELANIA is ongoing.
