Last updated on May 12th, 2026 at 12:45 pm
Elon Musk’s long-standing issue with OpenAI CEO Sam Altman has spilt into the Solana memecoin market, leading to a massive windfall for one early investor. A crypto trader turned a modest $141.50 investment into over $77,000 in total value after a new token, inspired by Musk’s “Scam Altman” nickname for his rival, surged minutes after its launch.
141.5 美金变成 7.75 万美金，回报率 54661% —— 因为一条马斯克的置顶推文，Meme 的奇幻故事又来了🤩
地址 9Dq1k…JEvCp 在 $SCAM 部署后仅一分半钟买入 1046 万枚代币，仅花费 1.7 枚 SOL，平均成本 $0.00001352；过去 10 小时他以均价 $0.00453 卖出了 55.5% 的持仓并盈利 2.6… https://t.co/mu2QWUq79Y pic.twitter.com/6cFz81y7Hh
— Ai 姨 (@ai_9684xtpa) April 28, 2026
Musk’s critique of OpenAI fuels speculative frenzy
The reason behind the move was the set of controversial posts made by Musk, in which one of them was a pinned tweet aimed at Altman. Time and time again, Musk criticized Altman for changing OpenAI from a nonprofit public benefit organization into a for-profit one, which Musk considers a way of enriching himself and other insiders.
In terms of blockchain analytics, the information reveals that just a few hours after Musk’s controversial posts, a trader using Solana bought 10.46 million $SCAM tokens. It cost him about $141.50 (approximately 1 SOL). Within a few hours after making the purchase, the trader managed to earn $26,000 in cash profits but also received unrealized gains of $51,000. Therefore, his return on investment (ROI) was an unbelievable 54,661%.
The volatility of narrative-driven memecoins
While this trader’s success story is viral, the $SCAM token follows a pattern of high-risk “hype cycles” frequently seen on Solana. Traders note that these tokens often leverage what people are searching for, in this case, the “Scam Altman” meme, to attract retail capital. However, such assets are often plagued by wash trading and liquidity pool manipulations designed to create an illusion of sustainable growth.
President Donald Trump recently hosted a high-profile gala at Mar-a-Lago, inviting top holders of the TRUMP memecoin for an evening filled with networking and discussions. Among the notable guests were Tether CEO Paolo Ardoino, investor Cathie Wood, and venture capitalist Tim Draper.
Trump expressed his continued support for the CLARITY Act, a significant piece of legislation regarding the structure of the crypto market. Interestingly, he didn’t mention the TRUMP token itself during his remarks.
TRUMP token later saw a decline of 14% shortly after. This drop highlights the waning enthusiasm surrounding the memecoin. The gathering has caught the attention of Senators Elizabeth Warren, Adam Schiff, and Richard Blumenthal, who have raised concerns about the potential for Trump to use his presidential influence for personal profit.
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