Ivanka Trump Warns of Fake Cryptocurrency Bearing Her Name

Ivanka Trump, the eldest daughter of former President Donald Trump, has issued a warning about a fake cryptocurrency named after her. In a statement posted on social media platform X, she condemned the unauthorized use of her name and likeness.

“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.

“To be clear: I have no involvement with this coin. This fake coin risks deceiving consumers and defrauding them of their hard-earned money, and the unauthorized use of my name and likeness is a violation of my rights. This promotion is deceptive, exploitative, and unacceptable.”

Trump also revealed that her legal team is taking steps to prevent further misuse of her name.

This announcement comes shortly after her father, Donald Trump, and former first lady Melania Trump launched their own meme coins. The president introduced $TRUMP on Friday, which surged from under $10 to over $70 within its first 48 hours of trading. As of now, $TRUMP is valued at approximately $37.

Two days later, Melania Trump unveiled $MELANIA, trading at just under $3. Both tokens are classified as meme coins, a type of cryptocurrency based on internet trends that typically lack intrinsic value and are highly volatile.

The introduction of these tokens has drawn mixed reactions. While they have gained popularity among Trump supporters, some members of the cryptocurrency community have criticized them for potentially undermining serious efforts to promote digital assets.

Donald Trump, who previously labeled cryptocurrency a “scam,” has recently become an advocate for the industry. During his campaign, he pledged to transform the United States into the “crypto capital of the planet.” His administration has marked a significant shift in the federal government’s stance on digital assets, especially compared to the Biden administration’s policies under former SEC Chair Gary Gensler.

The president has appointed several pro-crypto officials, including Paul Atkins as the incoming SEC chair and Howard Lutnick as Commerce Department nominee.

Venture capitalist David Sacks, known for hosting the first “crypto ball” last week, has also been appointed to a newly created role as White House czar for artificial intelligence and cryptocurrency.

Ivanka Trump’s firm stance against the fake cryptocurrency highlights the ongoing challenges of fraud and deception in the digital asset space.