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Ivanka Trumpdaughter of President Donald Trumpwarns investors not to buy a fake crypto coin bearing her name.
“I have noticed that a fake crypto coin called ‘Ivanka Trump’ or ‘$IVANKA’ is being promoted without my consent or approval,” she wrote in publish on social network X on Thursday. “Let me be clear: I have no involvement with this coin. This fake coin risks defrauding consumers and taking their hard-earned money.”
Ivanka Trump and her husband, Jared Kushner, played prominent leadership roles in Trump’s first White House, but were not central to the new administration.
Her warnings come after meme tokens called $TRUMP and $MELANIA, for the president and first lady respectively, were launched over the weekend.
The $TRUMP coin, which almost immediately reinforced the president’s net worth, which on paper is measured in the billions of dollars, now trades at about $37, down 50% from its peak shortly after the launch. Similarly, the $MELANIA token is down 80% from its weekend high, currently trading at $2.84.
The website for $TRUMP he says 80% of the coins are held by the Trump Organization and affiliates. Meme coins have become increasingly popular among crypto traders, but they are particularly volatile because there is no underlying asset with any value.
