Cryptocurrency 'sniper' traders made $100 million in a day on Melania Trump's memecoin
A small group of cryptocurrency 'sniper' traders earned $99.6 million by buying Melania Trump's memecoin minutes before it was made public, a new report revealed on Tuesday. The first lady unveiled her '$MELANIA' cryptocurrency the night before Donald Trump was inaugurated for his second term. But in the two and a half minutes before her post went live on Truth Social, two dozen digital wallets bought $2.6 million of the coin and profited when the price of the tokens rose after she announced their availability, the Financial Times found.
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