{"id":20459,"date":"2025-01-20T13:23:27","date_gmt":"2025-01-20T11:23:27","guid":{"rendered":"https:\/\/forklog.com\/en\/melanias-meme-coin-leaves-traders-pining-for-gary-gensler\/"},"modified":"2025-01-20T13:23:27","modified_gmt":"2025-01-20T11:23:27","slug":"melanias-meme-coin-leaves-traders-pining-for-gary-gensler","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/melanias-meme-coin-leaves-traders-pining-for-gary-gensler\/","title":{"rendered":"Melania\u2019s meme coin leaves traders pining for Gary Gensler"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>On January 19, the U.S. president-elect\u2019s wife, Melania Trump, launched the MELANIA meme coin on Solana. Within a day, the token\u2019s FDV topped $12bn.<\/li>\n<li>The family\u2019s second crypto asset triggered a sell-off in TRUMP and disruptions at several platforms and services.<\/li>\n<li>Community members highlighted tokenomics concerns, ethical ambiguities and an \u201cunprofessional\u201d approach by MELANIA\u2019s creators.<\/li>\n<\/ul>\n<\/div>\n<p>Melania Trump, wife of the U.S. president-elect, launched her Solana-based meme coin, MELANIA. Parts of the community deemed another token from the political family ill-judged.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The Official Melania Meme is live!<\/p>\n<p>You can buy $MELANIA now.\u00a0 <a href=\"https:\/\/t.co\/8FXvlMBhVf\">https:\/\/t.co\/8FXvlMBhVf<\/a><\/p>\n<p>FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P <a href=\"https:\/\/t.co\/t2vYiahRn6\">pic.twitter.com\/t2vYiahRn6<\/a><\/p>\n<p>\u2014 MELANIA TRUMP (@MELANIATRUMP) <a href=\"https:\/\/twitter.com\/MELANIATRUMP\/status\/1881094861279129643?ref_src=twsrc%5Etfw\">January 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Within three hours MELANIA <a href=\"https:\/\/dexscreener.com\/solana\/9dirurpjnanzhn6ts5hglouhtjrt1jgspbxnycrfz2ad\">reached<\/a> a peak of $13.14. The liquidity shift into the new meme coin weighed on several other assets, including TRUMP, which <a href=\"https:\/\/dexscreener.com\/solana\/a8nphpcjqtqhdquk35uj9hy2ysgxfkczgunwvkd3k7vc\">fell<\/a> from $61 to $38.9.<\/p>\n<p>At the time of writing, MELANIA trades at $12.21 with an FDV above $12bn. The asset ranks 77th on <a href=\"https:\/\/www.coingecko.com\/en\/coins\/melania-meme\">CoinGecko<\/a>.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXeTTPIS-82EDiVtBYJ0yxs4AkAd3IVESBqlIghCmgfwbdhaPY9kTkyAJx8Umcmn99M-AOGloNK7mFVZFZc1tvt8BYInHPqzhGoSAmaKwsU-O0R35yxQTZsr9IrltMHhK_A6snFLkQ?key=q0LLBMI7Far5yWpSCMQs6VbC\" alt=\"MELANIA meme coin leaves the community 'missing' Gary Gensler\"\/><figcaption class=\"wp-element-caption\">15-minute MELANIA\/USDC chart on Meteora. Data: DEX Screener.<\/figcaption><\/figure>\n<p>TRUMP\u2019s price partially recovered and is at $59.7.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdZcRCszTmwqqDgXe2h14AmXjW7cBc3DKOsGkCatBomgrLw3eNVLuQHZ5Ffvf5Xt2h1--rO1nsK6tJRHr0HzfVDQGiK0O1Nujh-32ymXTuF_yJ4ImvLhMAyBAUaztFHL6i016rEAA?key=q0LLBMI7Far5yWpSCMQs6VbC\" alt=\"MELANIA meme coin leaves the community 'missing' Gary Gensler\"\/><figcaption class=\"wp-element-caption\">15-minute TRUMP\/USDC chart on Meteora. Data: DEX Screener.<\/figcaption><\/figure>\n<p>Amid the frenzy, some trading venues and wallets suffered outages. The Phantom wallet team <a href=\"https:\/\/x.com\/phantom\/status\/1881112436549599328\">reported<\/a> receiving over 8m requests per minute. Jito Labs also <a href=\"https:\/\/x.com\/buffalu__\/status\/1881133074127126621\">faced<\/a> difficulties, as heavy load disrupted its Block Engine API.<\/p>\n<h2 class=\"wp-block-heading\">The MELANIA project and tokenomics<\/h2>\n<p>The creators <a href=\"https:\/\/melaniameme.com\/\">position<\/a> the new meme coin as \u201cdigital collectibles,\u201d designed to \u201cexpress support and engagement with the values represented by the MELANIA symbol.\u201d\u00a0<\/p>\n<p>According to the website disclaimer, the asset is \u201cnot intended for investment\u201d and is not offered as an \u201cinvestment contract or any form of securities.\u201d It is also \u201cnot political\u201d and unrelated to \u201cany political campaigns, political institutions, or government agencies.\u201d\u00a0<\/p>\n<p>Intellectual property associated with the meme coin belongs to MKT World LLC\u2014a company incorporated in 2021 by Melania Trump\u2014which <a href=\"https:\/\/search.sunbiz.org\/Inquiry\/CorporationSearch\/SearchResultDetail?inquirytype=OfficerRegisteredAgentName&#038;directionType=CurrentList&#038;searchNameOrder=TRUMPMELANIA%20M210000098221&#038;aggregateId=forl-m21000009822-869dd86e-be09-4b09-a2b0-a029161d1779&#038;searchTerm=Trump%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20Martha%20%20%20%20%20%20%20%20B&#038;listNameOrder=TRUMPMARTHAB%20L010000086590\">used<\/a> the same registered address as Trump International Golf Club.<\/p>\n<p>According to the project\u2019s website, the maximum token supply is 1bn. Of that, 45% is allocated to the community, the remaining 55% to the treasury and team. There are 250bn MELANIA in circulation.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXeN-WeS5O4NdtpZFlXRbRnyW1LUdHfPfOJv1wrOE5j4jFwsJMBqLKgv9Vk5I4u8E1fMipYp9oypK-uxZ-SiY-wyawfjyVCsEvW2nmEkQIO8l-4EjGDbMRrI99QJfV-uL7H-WLsR?key=q0LLBMI7Far5yWpSCMQs6VbC\" alt=\"MELANIA meme coin leaves the community 'missing' Gary Gensler\"\/><figcaption class=\"wp-element-caption\">MELANIA allocation. Data: Melaniameme.com<\/figcaption><\/figure>\n<p>Team holdings are subject to vesting. After the first 30 days, 10% will unlock. Then 11 monthly unlocks of 2.25% of the supply are scheduled.<\/p>\n<p>Soon after launch, Bubblemaps specialists noted the actual distribution did not match the stated one\u201489% of the supply remained in the developers\u2019 wallet.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: ?? The bubble map of $MELANIA does NOT match the distribution on their website <a href=\"https:\/\/t.co\/Q734sd4ykJ\">pic.twitter.com\/Q734sd4ykJ<\/a><\/p>\n<p>\u2014 Bubblemaps (@bubblemaps) <a href=\"https:\/\/twitter.com\/bubblemaps\/status\/1881094639765381586?ref_src=twsrc%5Etfw\">January 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the time of writing, 80% of the token\u2019s supply is <a href=\"https:\/\/app.bubblemaps.io\/sol\/token\/FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P\">held<\/a> across three wallets.<\/p>\n<p>Specialists argue MELANIA\u2019s developers fall short of the TRUMP meme coin\u2019s team.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI assume a different team handled this token than the creators of TRUMP. They had professional market makers, and here, to be honest, it looks like [the level of] college students,\u201d \u2014 <a href=\"https:\/\/x.com\/jconorgrogan\/status\/1881097020116762963\">said<\/a> Conor Grogan, head of product business operations at Coinbase.<\/p>\n<\/blockquote>\n<p>He also noted that a wallet involved in launching MELANIA had previously traded on Pump.fun and did not use a multisig.<\/p>\n<p>An Abstract Chain contributor known as Cygaar pointed to amateurish frontend code on the meme coin\u2019s main site, the lack of Cloudflare protection and the page\u2019s creation date\u2014January 18th 2025\u2014one day before launch.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">So this Melania meme site was setup yesterday, has no cloudflare protection, and has some half-assed frontend code.<\/p>\n<p>So yeah, people are definitely grifting here. At least the Trump coin was planned weeks in advance. <a href=\"https:\/\/t.co\/hCMvwcgWEZ\">pic.twitter.com\/hCMvwcgWEZ<\/a><\/p>\n<p>\u2014 cygaar (@0xCygaar) <a href=\"https:\/\/twitter.com\/0xCygaar\/status\/1881105054465392898?ref_src=twsrc%5Etfw\">January 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAt least, the Trump coin was planned weeks in advance,\u201d the specialist commented.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Community concerns<\/h2>\n<p>The launch of another meme coin from the family of the U.S. president-elect drew mixed reactions.\u00a0<\/p>\n<p>TRUMP\u2019s debut had already sparked debate about potential corruption schemes and improper enrichment for a politician in such a post. Questions also arose over the initial allocation structure\u201480% of the supply remained under the creators\u2019 control.<\/p>\n<p>The MELANIA token worried some community members for \u201cdiluting\u201d interest in Trump\u2019s token and depressing its price.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Melania Trump coin launched. This is obviously a huge disappointment as it will dillute the Trump coin as well as the fact that more are likely to come which will just make it into one giant mess.<\/p>\n<p>Everything going to dillute each other, massive PVP between every coin and in the\u2026<\/p>\n<p>\u2014 Daan Crypto Trades (@DaanCrypto) <a href=\"https:\/\/twitter.com\/DaanCrypto\/status\/1881092044078071920?ref_src=twsrc%5Etfw\">January 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cObviously, this is a big disappointment because [MELANIA] \u2018dilutes\u2019 the Trump coin; moreover, more coins are likely to appear and everything will turn into a huge mess,\u201d one commenter noted.<\/p>\n<\/blockquote>\n<p>Many users <a href=\"https:\/\/x.com\/Le0nacci\/status\/1881094529501344075\">accused<\/a> the presidential family of excessive greed.\u00a0<\/p>\n<p>CryptoQuant head Ki Young Ju conveyed his view with a scene from a popular TV series.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"qme\" dir=\"ltr\"> <a href=\"https:\/\/t.co\/XoYA3EmGt1\">pic.twitter.com\/XoYA3EmGt1<\/a><\/p>\n<p>\u2014 Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1881092993186431215?ref_src=twsrc%5Etfw\">January 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Some recalled the head of the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/gary-genslers-departure-a-retrospective-on-the-sec-chairs-tenure\">Gary Gensler<\/a>, whose term ends on Trump\u2019s inauguration day, January 20.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Gensler is laughing at us<\/p>\n<p>\u2014 db (@tier10k) <a href=\"https:\/\/twitter.com\/tier10k\/status\/1881095216167592447?ref_src=twsrc%5Etfw\">January 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cGensler is laughing at us,\u201d wrote the crypto-news observer known as db.<\/p>\n<\/blockquote>\n<p>Another user wryly <a href=\"https:\/\/x.com\/GwartyGwart\/status\/1881098110187024700\">remarked<\/a> that he missed \u201cregulation through enforcement\u201d\u2014the SEC approach disliked by the crypto community under the previous leadership.<\/p>\n<p>Former CNBC and Yahoo Finance journalist Zack Guzm\u00e1n saw a potential U.S. constitutional violation in the launches of TRUMP and MELANIA.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">There is a very important reason why the Trumps are launching <a href=\"https:\/\/twitter.com\/search?q=%24TRUMP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$TRUMP<\/a> and now $MELANIA so fast before the inauguration<\/p>\n<p>And whether you love Trump or hate Trump, the fact is that waiting another day could&#8217;ve opened him up to Constitutional violations &#038; impeachment (again) ? <a href=\"https:\/\/t.co\/fYw2ZsjTK7\">pic.twitter.com\/fYw2ZsjTK7<\/a><\/p>\n<p>\u2014 Zack Guzm\u00e1n (@zGuz) <a href=\"https:\/\/twitter.com\/zGuz\/status\/1881121152720142637?ref_src=twsrc%5Etfw\">January 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThere is a very important reason why the Trumps launched TRUMP and MELANIA so quickly ahead of the inauguration. Whether you love Trump or hate him, the fact is that delaying by one day could have led to constitutional violations and another impeachment,\u201d he stressed.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">World Liberty Financial activity picks up<\/h2>\n<p>Amid the launches of TRUMP and MELANIA, the World Liberty Financial project, <a href=\"https:\/\/forklog.com\/en\/news\/trump-family-unveils-world-liberty-financial-token-sale\">unveiled<\/a> by the Trump family in September 2024, reported \u201ccompleting its mission\u201d by selling 20bn WLFI, the project\u2019s governance token.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We\u2019ve completed our mission and sold 20% of our token supply! Due to massive demand and overwhelming interest, we\u2019ve decided to open up an additional block of 5% of token supply. Please be patient while our team works to relaunch the sale. We\u2019ll share updates here as soon as\u2026<\/p>\n<p>\u2014 WLFI (@worldlibertyfi) <a href=\"https:\/\/twitter.com\/worldlibertyfi\/status\/1881164477262930130?ref_src=twsrc%5Etfw\">January 20, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Because of heightened demand, a further 5bn tokens were put up for sale.\u00a0<\/p>\n<p>According to <a href=\"https:\/\/dune.com\/fergmolina\/world-liberty-financial\">Dune Analytics<\/a>, on January 19 the company sold around $160m worth of WLFI. As of January 18, cumulative sales stood at about $91bn.\u00a0<\/p>\n<p>According to Tron founder Justin Sun, the Tron DAO organisation invested another $45m in World Liberty Financial. Together with the <a href=\"https:\/\/forklog.com\/en\/news\/justin-sun-becomes-leading-investor-in-world-liberty-financial\">previous $30m<\/a>, its contribution amounts to $75m.<\/p>\n<p>In January, journalists <a href=\"https:\/\/forklog.com\/en\/news\/trump-to-designate-cryptocurrency-a-national-priority-reports-say\">learned<\/a> of Trump\u2019s intention to issue an order elevating cryptocurrencies to a policy priority.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On January 19, the U.S. president-elect\u2019s wife, Melania Trump, launched the MELANIA meme coin on Solana. Within a day, the token\u2019s FDV topped $12bn. The family\u2019s second crypto asset triggered a sell-off in TRUMP and disruptions at several platforms and services. Community members highlighted tokenomics concerns, ethical ambiguities and an \u201cunprofessional\u201d approach by MELANIA\u2019s creators. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[991,1161,1150,1138,26],"class_list":["post-20459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-donald-trump","tag-memes","tag-news-plus","tag-opinions","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=20459"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20459\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/20458"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=20459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=20459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=20459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}