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crypto.news 2025-01-23 20:42:20

Ivanka Trump denounces IVANKA memecoin, warns of legal action

Ivanka Trump, the daughter of President Donald Trump, has issued a statement distancing herself from a cryptocurrency project called the $IVANKA memecoin. Writing on X, Trump clarified that she has no connection to the token and condemned its use of her name and likeness. “To be clear: I have no involvement with this coin. This fake coin risks deceiving consumers and defrauding them of their hard-earned money” Trump stated. She further labeled the promotion as “deceptive, exploitative, and unacceptable.” It has come to my attention that a fake crypto coin called “Ivanka Trump” or “$IVANKA” is being promoted without my consent or approval. To be clear: I have no involvement with this coin. This fake coin risks deceiving consumers and defrauding them of their hard-earned money,… — Ivanka Trump (@IvankaTrump) January 23, 2025 The announcement follows the recent emergence of $IVANKA, a memecoin allegedly using Trump’s name to attract buyers. Trump revealed that her legal team is now reviewing the matter and will pursue action to halt the misuse of her identity. You might also like: Trump backs US leadership in crypto at Davos, Lummis chairs new Senate crypto panel Other Trump memecoins On January 17, President Donald Trump revealed the launch of Official Trump, a meme coin operating on the Solana ( SOL ) blockchain. Just two days later, on January 19, Melania Trump announced her own token, Melana Meme, which is also based on Solana. Trump announced the TRUMP token through his social media platform, Truth Social, urging followers to partake: “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community.” Within days of its launch, the token skyrocketed to an all-time high of $75, achieving an impressive market cap of nearly $15 billion. You might also like: Binance Labs rebrands to YZi Labs with CZ at the helm