“Smelania” The new fragrance from TrumpCo.

We identified 24 wallets that bought $MELANIA in the minutes before the existence of the coin and its backing from the first lady was publicised (via Melania’s Truth Social account, naturally). These people — who knew where to get the coins and were apparently confident it was not one of the hundreds of unofficial Trump family coins — bought $2.6mn of the tokens and flipped them within days for about $100mn. As many FT readers clocked, this is not exactly how a normal float should work. Memecoins are an arena with all the accoutrements and vocabulary of finance but lacking even the level of regulation that governs the sale of Beanie Babies.

The world’s most brutish personalities are stealing wealth and laundering on an unimaginable scale. We will not make it out of this unscathed. The suffering this transfer of wealth will cause is untold of even in the heaviest of death metal. The bodies will burn so bright that if God were still watching she’d close her eyes.

smelania?