How Melania Trump and Javier Milei Became Faces of a $57M Meme Coin Lawsuit

Melania Trump and Javier Milei’s Unexpected Roles

It’s not every day you see names like Melania Trump and Javier Milei tied to the wild world of meme coin lawsuits. But here we are. The Melania Trump Javier Milei $57M meme coin lawsuit has opened the spotlight on a complex case involving alleged fraud, deception, and the tricky intersections between celebrity and crypto promotions.

At the heart of it is Benjamin Chow, founder of Meteora, accused of running a scheme that duped investors out of $57 million by promoting memecoins called $LIBRA and $MELANIA, tokens that made headlines partly because of their association with these high-profile names. Yet, both Melania Trump and Javier Milei are said to be unwitting participants, used mainly as marketing props to bolster legitimacy.

The Anatomy of the Alleged Scheme

The lawsuit, filed in New York’s Southern District, paints a picture of a marketing factory where influencers and endorsements were used to puff up token prices only to let insiders cash out at inflated levels. The $LIBRA token was touted as supporting small businesses in Argentina but swiftly collapsed after insiders drained over $110 million from liquidity pools. The $MELANIA token didn’t fare better, crashing by more than 60% soon after its launch.

What’s striking is the contrast: While investors were counting on these tokens to hold value, the insiders’ exit shows a textbook pump-and-dump scheme, leaving everyday holders nursing significant losses. In legal terms, the defendants are facing charges under RICO statutes, meaning the allegations include organized racketeering and fraud.

What This Means for the Future of Meme Coins and Crypto Regulation

Moments like this lawsuit underscore the tension between innovation and regulation in decentralized finance. While meme coins thrive on hype and viral marketing, cases like this highlight the risks of misleading promotions and lack of accountability.

The case could be a precedent for how courts handle celebrity-related crypto fraud in the future. It’s also a reminder that behind flashy marketing, due diligence remains the best defense.

Benjamin Chow stepped down from Meteora in early 2025, but the echoes of this lawsuit remind us of the ongoing challenges in regulating fast-moving crypto projects.

Also read: our detailed exploration of Bitcoin’s core developer rivalry and how it shapes the protocol’s future in Bitcoin Politics.