The crypto craze surrounding Trump continues to grow, now featuring the release of the Ivanka Trump coin. While the crypto market dives headfirst into this Trump-themed trend, not every family member is pleased with the situation, especially concerning the launch of the $IVANKA coin.
In a recent post on Twitter/X, Ivanka Trump expressed her disapproval of this new cryptocurrency, labeling it a โfake crypto coinโ that is being marketed without her authorization. The daughter of the former president emphasized her lack of association with the project and mentioned that she is collaborating with her legal representatives regarding the unauthorized use of her name for marketing purposes.
This isn’t the first iteration of a Trump-themed cryptocurrency hitting the market. Just prior to the inauguration, Trump promoted a meme coin, followed closely by the introduction of the $MELANIA coin.
Ivanka Clearly Distances Herself from $IVANKA Crypto Initiative
On Thursday, Ivanka Trump made it abundantly clear that she is not associated with a new crypto meme coin that is being promoted in her name. Her Twitter/X statement garnered over 1.2 million impressions, where she issued a firm warning to consumers regarding this dubious crypto venture.
I have been made aware of a fraudulent crypto coin called โIvanka Trumpโ or โ$IVANKAโ that is being publicized without my consent or endorsement.
Let me set the record straight: I have no association with this coin. This fraudulent coin poses risks to consumers and could potentially defraud them of their hard-earned money,โฆ
โ Ivanka Trump (@IvankaTrump) January 23, 2025
Ivanka declared that she bears no ties to the crypto initiative and condemned the creators for misusing her likeness and name without consent, stating that it infringes on her rights. Moreover, she mentioned that her legal team is taking this matter earnestly and planning to take legal action against this identity misuse.
According to Ivanka, this crypto venture is not only unacceptable but also misleading and exploitative. Although she and her husband, Jared Kushner, had significant roles in the early Trump administration, the couple now appears to prefer a quieter lifestyle away from such controversies.
Debate Surrounds Recent Coin Launches
Trump-themed meme coins currently rank among the most actively traded tokens in the crypto marketplace. However, their launches and marketing practices have stirred controversy. On January 17th, former President Donald Trump debuted the Official Trump token on the Solana blockchain, followed by the announcement of the โMelania Coinโ by the First Lady just two days later.
Trump took to Truth Social to unveil his crypto token, encouraging supporters to participate and to become a member of the special Trump Community. Shortly after its launch, the Trump token experienced a surge to an all-time high of $75, leading to a market cap of $15 billion.
This excitement, however, was short-lived, as the token quickly fell to the $37 mark, resulting in a significant 50% decrease in value. Similarly, the Melania coin faced a steep decline, plummeting by 80%, with current trading around $2.8.
Trump Maintains Pro-Crypto Position
Before the upcoming November elections, Trump expressed his commitment to supporting Bitcoin and other crypto projects, vowing to foster a pro-crypto environment. His plans included replacing SEC Chair Gary Gensler and advocating for a Bitcoin reserve.
On January 23rd, Trump implemented his initial crypto regulation, which prohibits the establishment and issuance of Central Bank Digital Currency (CBDC).
Featured image from Tobias Hase/Picture Alliance/Getty Images, chart from TradingView
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