A group of investors who were duped into buying a cryptocurrency called $MELANIA, which was endorsed by Melania Trump herself, are now suing its creators, claiming they were scammed out of millions of dollars. The crypto, launched just before the President's inauguration in January, became a meme coin almost overnight.
The investors argue that while Melania Trump is not being sued for any wrongdoing, she was "window dressing" - used as a marketing tool to make the cryptocurrency seem more attractive and trustworthy. They claim that the creators, Benjamin Chow and Hayden Davis, led a pump-and-dump scheme, artificially inflating the value of the coins before selling them off at inflated prices.
The court has been asked for permission to update the original lawsuit, which alleged that the two men involved in creating $MELANIA and another cryptocurrency called $LIBRA defrauded investors out of millions. The updated complaint includes claims from an anonymous whistleblower who alleges that the creators used Trump as a way to "engineer" their scam.
It's worth noting that Melania Trump is not being sued, but the lawsuit does mention her in relation to the alleged scheme. In fact, President Trump has largely ignored the allegations and even joked about the cryptocurrency when it was first announced.
Some have pointed out that if former First Ladies like Jill Biden or Michelle Obama were involved in similar controversies, they would likely face intense scrutiny from conservative media outlets. However, there seems to be a double standard at play here, with Melania Trump receiving less attention for her involvement with $MELANIA despite using her official position as First Lady to promote the cryptocurrency and help drive up its value.
The investors argue that while Melania Trump is not being sued for any wrongdoing, she was "window dressing" - used as a marketing tool to make the cryptocurrency seem more attractive and trustworthy. They claim that the creators, Benjamin Chow and Hayden Davis, led a pump-and-dump scheme, artificially inflating the value of the coins before selling them off at inflated prices.
The court has been asked for permission to update the original lawsuit, which alleged that the two men involved in creating $MELANIA and another cryptocurrency called $LIBRA defrauded investors out of millions. The updated complaint includes claims from an anonymous whistleblower who alleges that the creators used Trump as a way to "engineer" their scam.
It's worth noting that Melania Trump is not being sued, but the lawsuit does mention her in relation to the alleged scheme. In fact, President Trump has largely ignored the allegations and even joked about the cryptocurrency when it was first announced.
Some have pointed out that if former First Ladies like Jill Biden or Michelle Obama were involved in similar controversies, they would likely face intense scrutiny from conservative media outlets. However, there seems to be a double standard at play here, with Melania Trump receiving less attention for her involvement with $MELANIA despite using her official position as First Lady to promote the cryptocurrency and help drive up its value.
. The fact that these investors are being scammed out of millions and no one's holding Melania Trump accountable is just ridiculous 
. I mean, if she was just some random celebrity who endorsed a crypto and it tanked, everyone would be all over her 
. But because she's the wife of the Prez, suddenly she gets a free pass? 
Not cool, in my opinion 
.
Not fair, if you ask me 
.
. I mean, who needs fact-checking or critical thinking when you have a pretty face and a fancy title? 
The pump-and-dump scheme was bad enough, but the fact that people are still laughing about it and barely giving Melania Trump the side-eye says more about us as a society than it does about her 
.
. I mean, can you imagine if someone like Michelle Obama or Jill Biden was involved in a similar scheme? The media would be all over it like white on rice 
. But because it's Melania Trump, suddenly she's above reproach? No way, fam! We need to call out the double standards here and hold everyone accountable for their actions 
. It's time for us to stand up and demand fairness, regardless of who's involved 
.
meanwhile melania trump is just over here being a marketing genius 
btw, who else is surprised that benjamin chow and hayden davis are getting sued for their actions? didn't they see the memes coming? 
. honestly, if trump's wife was involved in something shady, she'd be getting hounded by the right wingers 24/7 
. it's all about who you know and who's connected to the trump fam 
. anyway, these investors are fighting for their millions, i got nothing but respect for them 
. But because it's Melania? Meh 
. And let's not forget that President Trump is basically poking fun at the whole thing 
. This whole thing needs more investigation 
.