From "Maximum Profit Project" to the hidden earning plan: What is behind the Trump family's Meme coin craze?

The recent Meme coin frenzy has left deep traces: hundreds of thousands of retail investors caught in a game they don’t fully understand the rules of. Tokens appeared and disappeared within hours, with their values vaporizing rapidly. Among the most notable events of 2025, the emergence of tokens named after members of the Trump family has sparked a debate across the entire cryptocurrency industry: is this a legitimate business activity or just a scheme to extract value from supporters?

The masterminds behind the scandal: Hayden Davis and the Meteora exchange

Tracing the origins of this Meme coin crisis, we encounter Hayden Davis – a young advisor who previously worked for the Argentine government. As the main broker, Davis connected key figures in the crypto industry with those seeking to issue tokens. Investigations revealed that Davis is not an “independent player” but part of a complex network.

The Meteora exchange, operated by Ng Ming Yeow (nickname “Meow”), became the primary platform for issuing these tokens. Meteora not only provides the technology but also facilitates transactions. With an avatar of an animated cat wearing an astronaut helmet – featuring paws with black stripes – Meow has built an influential crypto empire.

Profit loop: How the frenzy operates

The mechanism of Meme coins is simple yet effective: token creators pledge to keep the “fixed supply” at a low price, but as the price rises, they are incentivized to sell as much as possible. Trump and Melania tokens launched during the weekend of the presidential inauguration, with prices soaring from almost nothing to $74 (with TRUMP token) and $13 (with MELANIA) within hours.

The Trump group and associated parties are believed to have made over $350 million from this price surge. However, after the peak, prices plummeted: by mid-December, TRUMP had fallen 92% from its peak to just $5.9, and MELANIA completely crashed to $0.11.

Argentina scandal: Clues from the blockchain

A turning point in the investigation occurred when Argentine President Javier Milei also engaged in a similar Meme coin project. Milei’s “LIBRA” token, advised by Davis, went through an identical cycle: skyrocketing and then collapsing.

Blockchain analysis – the public ledger of crypto transactions – uncovered irregularities: “wallet addresses” buying tokens just before multi-million dollar price announcements, then selling for 100 times profit within days. Evidence shows these addresses are linked, indicating coordinated planning.

Whistleblower and sensitive disclosures

Moty Povolotski, a former associate of Davis, decided to come forward and tell the truth. He revealed that Davis once asked him to help “manage transactions” by selling anonymous tokens after reaching a certain market cap. Notably, Davis often said “must sell anonymously” – a clear sign of intent to hide the value.

Public messages show Davis telling his group: “Sell as much as possible, even if the price drops to 0.” This exposes the true nature of the activity – not building a valuable project, but extracting maximum profit from investors.

Ng Ming Yeow: Architect of the “infinite money system”

Singaporean Ng Ming Yeow, aka “Meow,” is a key but little-known figure. He built the Meteora platform to enable “anyone to issue tokens.” In interviews, he claims that all financial assets – even US dollars – are “Meme coins” because their value is based on collective trust.

This statement is not just philosophy but a way to rationalize the entire system he is developing. When asked about responsibility, he uses the metaphor “not throwing out the baby with the bathwater” – implying that despite suspicious activities, the whole sector should not be dismissed.

Chain of conflicts of interest: From Mar-a-Lago to Washington

Before the Trump tokens launched, the family promoted the project World Liberty Financial Inc., raising $550 million from investors. At that time, everyone knew Trump would “loosen crypto regulation” – a pledge the new administration has begun to fulfill.

In April 2025, a party at Trump National Golf Club in Virginia was held for “top investors” of the TRUMP token. Major holders are crypto billionaires with political influence. The White House spokesperson confirmed Trump “attended as a private individual,” but the fact that a sitting president attended a party of those who made huge profits from a token bearing his name raises unanswerable questions.

Conclusion and consequences

By November, Meme coin trading volume had decreased by 92% from its peak. Investors were “shaved” until they ran out of money. Davis disappeared from the public eye, social media stopped updating, but blockchain data shows his wallet still active.

Meteora continued to grow, launching its own tokens in October with a market cap exceeding $300 million. All participants – from Davis to Ben Chow, who introduced Davis – remain silent, with no one taking responsibility.

Legally, no regulatory agency intervened. SEC declared “not regulated” Meme coins. Meanwhile, Trump and his wife continue planning to develop their own crypto applications, and other companies behind this frenzy continue to accumulate profits from the lack of oversight.

The Meme coin craze is not just a typical financial bubble – it’s a clear proof that when rules are loosened and “hype players” set their own laws, markets can become wildly chaotic. The biggest winners are not ordinary investors but the game designers themselves.