🔗 Share this article Melania Trump's Digital Currency Creators Hit with Market Manipulation Scam Legal Action The developers behind a digital token introduced by US First Lady Melania Trump have been alleged in legal documents of orchestrating a market manipulation plot. Coin Release and Price Surge The $MELANIA cryptocurrency were made available for a minimal price each on January 19th, the day before former President Trump took office. Together with the Melania cryptocurrency, Donald Trump released his own digital currency shortly prior to the inauguration ceremony. In a matter of hours, the value of the $MELANIA cryptocurrency skyrocketed to $13.73 per coin. Sudden Collapse in Value Nevertheless, the price subsequently crashed just as rapidly, and presently trades for only about 10 cents – under 1% of its highest value. At the same time, the $TRUMP token hit a high of nearly forty-six dollars and now trades for $5.79. Court Claims and Plaintiffs' Position The claimants assert that the currency's developers organized the operation conscious that the digital currency's value would plummet. Melania Trump herself is not named in the court case. The plaintiffs clarified they do not believe she was responsible, but alleged the digital currency firms of leveraging her and other familiar faces as window dressing for their illegal activities. Exchange Platform Role According to recently submitted federal filings, claimants allege leaders of the Meteora trading platform, where $MELANIA was first exchanged, of establishing a plan that permitted them to indirectly purchase large quantities of the cryptocurrency. Their accomplices then promptly liquidated these virtual tokens, earning significant gains while triggering the market to collapse, per records entered in federal court in Manhattan. Broader Context The allegations concerning $MELANIA have been included in court cases involving various other cryptocurrencies, which began in April. The Trump family has reportedly secured over $1 billion in pre-tax gains from several digital currency-linked enterprises and organizations over the past 12 months.