Making Over $100 Million Betting on TRUMP: Luck or Insider Trading?
TechFlow Selected TechFlow Selected
Making Over $100 Million Betting on TRUMP: Luck or Insider Trading?
Within 30 seconds of Trump announcing the Memecoin on Truth Social, a new wallet address purchased over 5.9 million TRUMP tokens.
Navigating Web3 tides with focused insightsBy: Sander Lutz
Translation: Bitpush News
This weekend, a new meme coin launched by the President and First Lady caught many people off guard. But some traders placed big bets early—and are now reaping the rewards.
When Trump unveiled his own meme coin on Friday, many made quick profits—but at least one trader acted far faster than most.
On Friday, four hours before Trump announced his Solana-based meme coin TRUMP, an anonymous user deposited over $1 million worth of SOL into a brand-new crypto wallet (identified as "6QSc2") and waited.
Within 30 seconds of Trump announcing the meme coin on Truth Social that evening, the wallet snapped up more than 5.9 million TRUMP tokens. Within hours, those tokens were worth over $116 million.
According to analysis by on-chain research firm Bubblemaps, the trader then split large amounts of TRUMP tokens across 10 different Solana wallets and began aggressively selling the next day. As of Monday morning, Bubblemaps said the trader had sold $85 million worth of TRUMP and still held another $75 million. Blockchain data now shows these wallets collectively hold only about $18 million in meme coins, suggesting the trader has likely offloaded most of their position.
But the story doesn’t end there. On Sunday, First Lady Melania Trump followed her husband’s lead and launched her own meme coin—and this lucky trader was again among the first. Within 90 seconds of the First Lady’s post about the MELANIA token on Truth Social, and one minute before information about the token appeared on X, one of the wallets linked to this user purchased a large amount of MELANIA tokens.
Bubblemaps said the trader sold $45 million worth of TRUMP tokens—apparently to build a massive position in MELANIA—causing the TRUMP token to plunge nearly 50% within minutes on Sunday afternoon.
Rumors have circulated widely on X about other early buyers of TRUMP tokens making huge profits, fueling suspicions of widespread insider trading. Decrypt cannot confirm whether any insider information was involved, but the sheer number of interconnected wallets tied to the "6QSc2" account is striking.
The scale and timing of the purchase—placing such a large order before most crypto users even learned of the launch and confirmed it wasn’t a sophisticated hack—raises eyebrows.
Still, it's possible the trader simply happened to be in the right place at the right time—just created a new wallet and made the right decision promptly. Transaction history from associated wallets suggests this user has been actively trading large volumes of meme coins for at least the past three months. The trader even bought into the meme coin tied to the “Hawk Tuah” girl when it launched.
Alternatively, the trader may have well-connected sources who tipped them off about the upcoming Trump meme coin. If insider information was indeed leaked, the source may not necessarily have come from Trump’s inner circle or crypto team.
Last weekend, several Solana-based decentralized finance projects—including Jupiter, Meteora, and Moonshot—revealed they had collaborated with the Trump token team in advance to ensure a smooth launch.
The token drove Solana network activity to unprecedented levels, requiring coordinated efforts to keep infrastructure running. However, it remains unclear how many employees at these projects knew about the token in advance, and there is currently no evidence of misconduct by any provider.
Still, at least one prominent figure in crypto appears to have openly boasted about receiving insider knowledge of the upcoming MELANIA token. Ran Neuner, co-founder and CEO of blockchain investment fund Onchain Capital, acknowledged this in a post on X on Monday, lamenting that the Trump family is now “scamming at the expense of the crypto community.”
"Don't get me wrong," Neuner wrote. "As my timeline shows, I knew about the MELANIA token before launch, and I clearly profited from it."
In fact, Neuner publicly posted about the imminent launch of the MELANIA token nearly 90 minutes before the First Lady’s first announcement on Truth Social.
Decrypt reached out to Neuner regarding the post but has not received a response.
Trump’s token rose 8% on Tuesday, sitting at $43.94 at time of writing. Its fully diluted valuation remains above $43 billion. Meanwhile, MELANIA dropped nearly 24% on the day, trading at $4.60 at time of writing, with a fully diluted valuation of $4.6 billion.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
Decrypt
