Is it "luck" or "insider trading" to make more than $100 million by relying on TRUMP?

Original title: "This Lucky Crypto Trader Made Over $100 Million on Trump's Meme Coin"

Author: Sander Lutz

Compiled by: BitpushNews

This weekend, the President and First Lady caught many people off guard with the launch of a new meme coin. But some traders made big bets early and it paid off.

When Trump launched his own meme coin on Friday, a lot of people made a lot of money very quickly — but at least one trader who made a lot of money made his bet much faster than most.

On Friday, four hours before Trump announced the launch of his Solana meme Coin TRUMP, an anonymous user deposited more than $1 million worth of SOL in a brand new crypto wallet (identified as "6QSc2") and then sat back and waited. appreciation.

On Friday night, within 30 seconds of Trump announcing the meme Coin on Truth Social, the wallet purchased more than 5.9 million TRUMP tokens. Within a few hours, the tokens were worth more than $116 million.

According to analysis by on-chain research firm Bubblemaps, the trader then split the large amount of TRUMP tokens into 10 different Solana wallets and began selling them in large quantities the next day. As of Monday morning, the trader had sold $85 million worth of TRUMP and held another $75 million, according to Bubblemaps. Currently, blockchain data shows that these wallets combined only hold $18 million worth of meme coins, and the trader has presumably sold most of his positions.

However, the story doesn't end there. On Sunday, first lady Melania Trump followed her husband's lead and launched her own meme coin — and the lucky trader was early again. Within a minute and a half after the First Lady posted about the MELANIA token on Truth Social, and a minute before information about the token was posted to X, one of the wallets associated with the user purchased Large amounts of MELANIA tokens.

According to Bubblemaps, traders sold $45 million worth of TRUMP tokens, apparently to use them to build a huge MELANIA position, which caused TRUMP tokens to plummet nearly 50% in a matter of minutes on Sunday afternoon.

Rumors abound on X that several other early buyers of TRUMP tokens had profited handsomely, leading to suspicions of widespread insider trading. Decrypt cannot confirm whether there is any inside information, but the large number of associated wallets associated with the "6QSc2" account is enough to raise eyebrows.

This is suspicious considering the trader placed such a large buy order before most cryptocurrency users got wind of the news and realized it was not an orchestrated hack.

However, it is also possible that the trader happened to be in the right place at the right time, had just created a new wallet, and made the right decision on time. The transaction history of the associated wallet shows that this user has bought and sold large amounts of meme coins, at least over the past three months. The trader even bought some of the Hawk Tuah girl meme coins when they were released.

However, it is also possible that the trader is well-connected and got word of the impending release of the Trump meme coin. If there is indeed inside information, the leak may not necessarily come from Trump's inner circle or the crypto team.

Over the weekend, several Solana decentralized finance projects such as Jupiter, Meteora, and Moonshot revealed that they were working with the Trump Token team in advance to ensure a smooth launch.

The token caused unprecedented levels of activity on the Solana network, and many people had to work together to ensure the infrastructure could function properly. However, it is unclear how many employees at these projects were informed of the plans for the tokens in advance, and there is currently no evidence of wrongdoing by any provider.

However, at least one prominent cryptocurrency figure appears to be publicly bragging about receiving early inside information about the upcoming MELANIA token. Ran Neuner, co-founder and CEO of blockchain investment fund Onchain Capital, admitted as much in a post on .

"Don't get me wrong," Neuner wrote. “As my timeline shows, I was aware of the MELANIA token prior to its launch and I clearly profited from it.”

In fact, Neuner publicly posted about the MELANIA token’s upcoming launch nearly 90 minutes before the first lady made the first announcement about the token on Truth Social.

Decrypt reached out to Neuner for this post but did not receive a response.

Trump’s coin rose 8% on Tuesday and was at $43.94 at the time of writing. The fully diluted value of the token still exceeds $43 billion. MELANIA, meanwhile, fell nearly 24% on the day, trading at $4.60 at the time of writing, giving it a fully diluted value of $4.6 billion.