In January, Melania Trump listed the bid history and winner of the “Head of State Collection, 2022” non-fungible token (NFT) auction. This history was revealed through a series of blockchain transactions that displayed the cryptocurrency used to purchase Melania’s NFT. According to Bloomberg Wealth, Melania’s first NFT sold for 1,800 SOL, which is worth approximately $185,000. However, upon examining the bid history of Melania’s auction, Bloomberg Wealth noticed something odd: The creator of the auction (Melania) transferred 372,657 USDC, a stablecoin pegged to the U.S. dollar, to the second account that sent the aforementioned 1,800 SOL to the third account that was listed as the official winner of the auction. Just a few days after those series of transactions took place, Melania’s account sent 1,800 SOL back to the second account. With these public records on full display, many have purported that Melania (or someone on her team) funded the sale of her own NFT.
Though Melania claims that the NFT was purchased by a third-party buyer, her office has still failed to elaborate on any details in the NFT’s blockchain transaction. According to Vice, perhaps the only other reason for the strange transactions might be the fact that due to the decreasing value of cryptocurrency at the time, her team decided not to allow buyers using SOL to place bids, and that is the reason why those monetary conversions took place in the blockchain transaction.