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Ivanka Trump denies being involved with a Meme Coin named after her and warns investors about potential risks.
The President’s daughter also advised investors to be cautious with the currency and stay away from possible scams.
Ivanka Trump Reacts To Meme Coin IVANKA
In a recent statement, Ivanka Trump denied rumors about her participation in Meme Coin IVANKA. This businesswoman used X (formerly Twitter) to clarify things.
“I have been informed that a counterfeit cryptocurrency bearing the name “Ivanka Trump” or “IVANKA” is being promoted without my consent or approval. To be clear: I have nothing to do with this coin,” she posted in article.
She further warned that the currency poses risks to unwary consumers, potentially defrauding them of their hard-earned money. She criticized the unauthorized use of her name and image as a violation of her rights.
“This promotion is deceptive, exploitative and unacceptable. My legal team is reviewing and will pursue measures to prevent misuse of my name,” she added.
Notably, there are currently many fake IVANKA coins being traded on the market.
Meanwhile, Ivanka Trump is not the first member of the Trump family to be involved in unauthorized cryptocurrency projects. In July 2024, a Meme Coin using Barron Trump’s name and image was launched.
No Barron Trump or any other member of the Trump family has publicly admitted to being involved with that Token.
TRUMP and MELANIA Lose Momentum
This follows the launch of the official Meme Coins of the President (TRUMP) and Melania (MELANIA). These two coins skyrocketed in value after their launch but then lost value.
TRUMP is down 6.3% over the past 24 hours, trading at $34.50 at the time of writing. This is a decrease of more than 50% from the all-time high. Similarly, MELANIA has fallen 4.8% over the past day, with a time-of-writing value of $2.76—a 79% drop from its peak price.
Despite its official backing, Meme Coin TRUMP is not immune to scams. As reported by TinTucBitcoin, scammers took advantage of the hype surrounding TRUMP, resulting in the theft of $857 million in the past week.
The rise of Meme Coins tied to Trump has also led to regulatory scrutiny. Senator Elizabeth Warren and Representative Jake Auchincloss recently sent a letter expressing serious concerns about the TRUMP and MELANIA coins, asking for stricter regulations to oversee these assets.
This follows an earlier letter from US Representative Gerald Connolly. In it, Connolly called for an investigation into President Trump’s possible involvement in cryptocurrency projects and any conflicts of interest that may be involved.
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