Ivanka Trump denounced an unauthorized meme coin project on Thursday with purported ties to her name and brand, insisting that it’s not the real deal.
President Donald Trump’s daughter said in an X (formerly Twitter) post that she had “no involvement” with the token that debuted this week. The businesswoman’s legal team is “pursuing measures” against the altcoin’s creators, she said.
“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,” she wrote.
The impostor token’s launch follows the meteoric rise and substantial fall of the Trump family’s Official Trump (TRUMP) and Melania Meme (MELANIA) meme coins on Sunday. The Solana-based tokens soared to multi-billion-dollar market caps amid a trading frenzy that led to congestion at crypto exchanges in recent days.
TRUMP is down more than 6% over the last 24 hours to a current price of nearly $36, down by more than 50% from its all-time high price set last weekend soon after the high-profile launch.
Their explosive rollouts fueled speculation that tokens named after other members of the First Family would soon also hit the market. Additional meme coins from the Trump family have not yet been announced, however, though plenty of imposters have popped up in an apparent attempt to confuse prospective investors.
Still, some traders have proven keen to get their hands on IVANKA, which has a market cap of over $1.1 million with $1.6 million in trading volume over the past day, per data from DexScreener. The token, priced at a fraction of a penny, is billed as an “official” token despite Trump’s insistence otherwise.
The IVANKA token has surged by about 40% over the last hour alone as Trump’s X post brought it into a brighter spotlight.
The cryptocurrency market is rife with fake celebrity meme coin projects. Within the past year, scammers have launched tokens with fake ties to famous figures such as songstress Iggy Azalea and footballer Kylian Mbappe. Such coins are typically used for “pump-and-dump” schemes via social media posts sent from hijacked celebrity accounts.
Edited by Andrew Hayward
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