Naseem's $100M TRUMP MemeCoin Windfall: Insider Trading or Lucky Sniper?

Blockchain analytics platform Bubblemaps has identified a pseudonymous crypto trader known as Naseem as the individual who potentially profited over $100 million from trading the TRUMP memecoin. The platform collaborated with YouTuber Stephen Findeisen, also known as Coffeezilla, to conduct an investigation that suggests Naseem managed to purchase the TRUMP token immediately after its launch.

The initial transaction involved buying $1.09 million worth of the token from an address starting with 6QSc2, which was subsequently distributed across at least nine different wallets, according to onchain data. Bubblemaps pointed out several connections that are hard to overlook, including an address beginning with 93Wb that had numerous interactions with the wallets where the funds were transferred. Notably, this same address once held the naseem.sol vanity asset.

Naseem was given the opportunity by Bubblemaps to address allegations of insider trading, which he refuted. He explained that he managed to acquire over $1 million of TRUMP tokens within the first second of its trading by paying a hefty $84,000 transaction fee to prioritize his purchase. Naseem insists he had no direct knowledge of the launch, citing screenshots that show an official Meteora address interacting with a TRUMP-USDC pool the day before the token's release, suggesting that Meteora may have inadvertently leaked information about TRUMP.

Bubblemaps emphasized that Naseem is not just any trader but a skilled "sniper" with a history of successful trades. This includes earning $1 million from transactions involving Haliey Welch's HAWK token and the LIBRA token, which was promoted by Argentinian President Javier Milei.