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.
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.
Many data centers rely on evaporative cooling, or “swamp cooling,” where warm air is drawn through wet pads. Data centers typically evaporate about 80% of the water they draw, discharging 20% back to a wastewater treatment facility, according to Shaolei Ren, an associate professor of electrical and computer engineering at the University of California, Riverside. Residential water usage, by comparison, loses just 10% to evaporation, discharging the other 90%, Ren said. (A spokesperson for Google said the company doesn’t have a standard percentage because any data center would see some variation based on factors like location, temperature and humidity.)
What happened next, however, was anything but routine. “They just disappeared,” a spokesperson from Grassroots Leadership told us. “We couldn’t find them. We were entering her registration number into the ICE system, and she wasn’t showing up anywhere.”
