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Ivanka Trump tells crypto investors not to fall for fake memecoin using her name

Ahead of his inauguration, US President Donald Trump launched his own crypto memecoin called $Trump, alongside $Melania.

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Ivanka Trump had served as White House adviser during her father's first term as president. (Image source: Ivanka Trump/Instagram)

Days after US President Donald Trump stirred controversy by launching his own memecoin, his daughter, Ivanka Trump, has warned investors about a fraudulent cryptocurrency using her name.

“It has come to my attention that a fake crypto coin called ‘Ivanka Trump’ or ‘$IVANKA’ is being promoted without my consent or approval,” the first daughter wrote in a post on X.

“To be clear: I have no involvement with this coin. This fake coin risks deceiving consumers and defrauding them of their hard-earned money,” she added.

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Ahead of his inauguration, President Trump launched his own crypto memecoin called $Trump, alongside $Melania, another memecoin promoted by First Lady Melania Trump.

It has come to my attention 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 with this coin. This fake coin risks deceiving consumers and defrauding them of their hard-earned money,…

— Ivanka Trump (@IvankaTrump) January 23, 2025

The potential for these memecoins to inflate Trump’s personal fortune has raised legal and ethical concerns among US lawmakers and former government officials.

Also Read | Trump, Melania release memecoins: What exactly are they, why crypto investors are divided on them

The $TRUMP coin is trading at about $37, a 50 per cent decline from its peak shortly after its launch. Similarly, the $MELANIA token has dropped by 80 per cent from its weekend high and is trading at $2.84, according to a report by CNBC.

While memecoins can be used to build a large following and attract significant investment, they are discouraged even by some crypto traders as memecoins are extraordinarily volatile and do not reflect any underlying assets or actual value.

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