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Ivanka Trump warns investors that meme token bearing her name is fake

Hakan Nural | Getty Corporealizations

Ivanka Trump, the daughter of President Donald Trump, is warning investors against buying a fraudulent crypto start bearing her name.

“It has come to my attention that a fake crypto coin called ‘Ivanka Trump’ or ‘$IVANKA’ is being champion without my consent or approval,” she wrote in a post on social media site X on Thursday. “To be clear: I have no involvement with this invent. This fake coin risks deceiving consumers and defrauding them of their hard-earned money.”

Ivanka Trump and her husband, Jared Kushner, simulated prominent leadership roles in the first Trump White House but have not been central to the new administration.

Her warnings meet up after meme tokens were launched over the weekend called $TRUMP and $MELANIA, for the president and first lady, each to each.

The $TRUMP coin, which almost immediately boosted the president’s net worth by billions of dollars on paper, is now trading at here $37, a drop of 50% from its peak shortly after launch. Similarly, the $MELANIA token has plunged 80% from its weekend important, currently trading at $2.84.

The website for $TRUMP says 80% of the coins are held by the Trump Organization and affiliates. Meme coins receive become increasingly popular with crypto traders but are particularly volatile as there is no underlying asset with any value.

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