Ivanka Trump Warns Against Fake Crypto Coin Using Her Name
Ivanka Trump, daughter of President Donald Trump, is cautioning investors about a fraudulent cryptocurrency using her name. In a social media post on Thursday, she clarified that she has no involvement with the “Ivanka Trump” or “$IVANKA” token being promoted online.
“It has come to my attention that a fake crypto coin called ‘Ivanka Trump’ or ‘$IVANKA’ is being promoted without my consent or approval,” she wrote on the platform X. “To be clear: I have no involvement with this coin. This fake coin risks deceiving consumers and defrauding them of their hard-earned money.”
Meme Coins Under Scrutiny
The warning comes amidst a wave of meme tokens, including $TRUMP and $MELANIA, which were launched over the weekend. These tokens have sparked interest in the crypto market but have shown extreme volatility.
The $TRUMP token, tied to President Donald Trump, briefly surged in value before plummeting by 50%. Similarly, the $MELANIA coin, named after the first lady, has dropped 80% from its peak and is currently trading at $2.84.
Meme tokens like these have gained popularity for their viral appeal but lack any underlying assets, making them risky investments.
Protecting Consumers
Ivanka Trump’s warning highlights growing concerns about scams and misinformation in the crypto space. Fraudulent tokens often exploit the names of high-profile figures to lure unsuspecting investors.
The $TRUMP coin’s website claims that 80% of its supply is held by the Trump Organization and affiliates, adding to the controversy surrounding these meme tokens.
Investor Caution Advised
As the cryptocurrency market continues to attract new traders, experts recommend due diligence before investing in any token. Scams like the $IVANKA token serve as a reminder to verify the legitimacy of any investment opportunity.
“I encourage everyone to exercise caution and ensure they’re informed about the risks associated with such investments,” Ivanka Trump added in her statement.
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