Ivanka Trump, the eldest daughter of former President Donald Trump, recently issued a statement warning the public about a fraudulent cryptocurrency token that is being promoted using her name. The token, which falsely claims to be endorsed by Ivanka, is being circulated without her permission. She clarified that she has no involvement with the cryptocurrency and strongly condemned its promotion, emphasizing that it could mislead and deceive consumers, potentially putting their hard-earned money at risk. Ivanka also pointed out that the unauthorized use of her name and image is a violation of her rights, and she plans to take legal action to stop the ongoing misuse of her identity.
This warning from Ivanka comes just days after her father, President Trump, and First Lady Melania Trump launched their own cryptocurrency tokens. President Trump introduced the $TRUMP coin, which saw significant fluctuations in its value, trading around $37 after its release. The First Lady followed suit with the launch of the $MELANIA token, which is valued at just under $3.
Both of these tokens are considered meme coins, a type of cryptocurrency that is often based on internet trends and lacks inherent value. Meme coins can be highly volatile, and the $TRUMP token, for instance, experienced a surge in price after its release, briefly reaching over $70. While these tokens have generated excitement among some supporters, they have also faced backlash from certain members of the crypto community who are concerned that such ventures could tarnish the credibility of broader efforts to promote cryptocurrency.
In contrast to his earlier skepticism, President Trump has become more supportive of cryptocurrency during his campaign, vowing to position the United States as the global leader in the digital asset space. To further this goal, he has appointed several crypto-friendly figures to important roles, such as Paul Atkins as the potential new head of the SEC and Howard Lutnick as his nominee for Secretary of Commerce. Additionally, venture capitalist David Sacks, a strong advocate for cryptocurrency, was recently appointed to a new position in the White House focused on artificial intelligence and crypto policy. This growing support for cryptocurrency reflects a shift in the Trump family’s approach to emerging technologies, despite the occasional controversy surrounding new projects like meme coins.