Lawsuit Filed Over Melania Token Pump-and-Dump Scheme in New York

A lawsuit has been filed against Meteora executives, alleging they orchestrated a pump-and-dump scheme involving the $MELANIA token. Investors claim the executives used Melania Trump’s name and image to attract buyers, while secretly selling their holdings when the token’s price inflated, causing significant financial losses for those who bought in during the hype. The lawsuit is part of a broader legal case seeking to address questionable practices in cryptocurrency launch schemes and could impact future U.S. regulations.