Ivanka Trump Warns Investors About Fraudulent Meme Token Using Her Name

Ivanka Trump, the daughter of former U.S. President Donald Trump, has issued a strong warning to investors regarding a fake cryptocurrency token that falsely claims to be associated with her.

In a statement shared on social media platform X on Thursday, Ivanka Trump stated:
“It has come to my attention that a fraudulent crypto token named ‘Ivanka Trump’ or ‘$IVANKA’ is being promoted without my knowledge or approval. To clarify: I have no affiliation with this token. It is a scam designed to mislead consumers and potentially defraud them of their hard-earned money.”

Ivanka Trump and her husband, Jared Kushner, were influential figures during the first Trump administration but have since taken a step back from political activities.

This warning comes amid the launch of other meme-based tokens over the weekend, including $TRUMP and $MELANIA, named after her father, Donald Trump, and former First Lady Melania Trump, respectively.

According to reports from news outlets such as Bloomberg, Reuters, and CoinDesk, the $TRUMP token initially surged in value, briefly adding billions of dollars to Donald Trump’s net worth on paper. However, its value has since dropped by 50%, now trading at approximately $37. Similarly, the $MELANIA token has seen an even steeper decline, losing 80% of its value since launch and now trading at $2.84.

The website for $TRUMP states that 80% of the tokens are controlled by the Trump Organization and its affiliates. While meme coins have gained significant popularity among crypto enthusiasts, their extreme volatility and lack of intrinsic value make them high-risk investments.

For more detailed coverage, refer to articles by CoinDesk, Bloomberg, and Reuters.