Ivanka Trump is warning her social media followers not to fall for this crypto scam using her name.
Ivanka Trump, the daughter of President Donald Trump, released a statement to social media platform Thursday, informing users that she is not involved in any crypto coin using her name. She said her legal team was looking into the matter.
“I have learned that a fake crypto coin called “Ivanka Trump” or “$IVANKA” is being promoted without my consent or approval. To be clear: I have no involvement in this piece,” she wrote on X.
“This fake coin risks misleading consumers and depriving them of their hard-earned money, and the unauthorized use of my name and likeness is a violation of my rights. This promotion is misleading, exploitative and unacceptable,” she added.
His statement on fake crypto coins comes days after his father and Melania Trump. promoted its own crypto coins before inauguration day.
Ron Filipkowski, editor-in-chief of MeidasTouch, wrote that it might be “difficult” to tell which Trump crypto coin is a scam and which is not.
“The problem is that the Trump family has so many crypto scams that it’s hard to tell which ones are affiliated with them or another scammer. Either way, you’ll probably lose your money,” a- he declared. wrote on X.
By promoting the meme coin, Trump told his supporters to “Have fun!” » The website selling the tokens says they are intended to be expressions of support and not an investment opportunity.
That didn’t stop people from trying to make money. The Trump meme coins started selling at $10 each before climbing to around $70 by Sunday morning. It fell sharply later Sunday after Trump and his wife, Melania Trump, posted a meme piece for her. Melania coin was trading at around $5 as of Sunday afternoon.
Meme coins are a strange and highly volatile corner of the crypto industry that often starts as a joke with no real value, but can increase in price if enough people are willing to buy them. Dogecoin, the cryptocurrency including the mascot is a super cute dog who thinks things like “wow a lot”, is perhaps the best known. Meme coins can be used by scammers looking to make a quick fortune at the expense of unwary investors.
The Associated Press contributed to this report.
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