From Trump to Melania, we now have the Ivanka Trump coin. The crypto industry is going full-throttle on Trump mania, but at least one family member isn’t happy with the latest development, particularly the release of the $IVANKA coin.
In a post on Twitter/X, Ivanka Trump blasted the news of the new crypto project, calling it a “fake crypto coin” currently being promoted without her consent. The presidential daughter stated that she’s not connected with the project and is currently working with her legal team over the unauthorized use of her name in marketing the crypto.
This isn’t the first time a Trump-themed coin became available in the market. Just days before taking office, Trump advertised a meme coin, followed by the launch of the $MELANIA coin.
Ivanka Publicly Denies Any Link With $IVANKA Crypto Project
On Thursday, the presidential daughter publicly denied any links to a new crypto meme coin that’s marketed under her name. In a Twitter/X post that has generated over 1.2 million impressions, Ivanka issued a strong warning and reminder to consumers against this suspicious crypto project.
It has come to my attention that a fake crypto coin called “Ivanka Trump” or “$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
Ivanka shared that she had no connection with the project and criticized the developers for using her likeness and name without approval, calling it a violation of her rights. She added that her legal team is taking this issue seriously and plans to sue over misuse of identity.
The presidential daughter added that the crypto project is not just unacceptable but also deceptive and exploitative. Ivanka and her husband, Jared Kushner, held important positions in the first Trump administration. However, the couple seems to enjoy their time on the sidelines.
Controversy Swirls Around The New Coin Releases
Trump-themed meme coins are some of the most popularly traded tokens in the market today. However, their release and marketing were controversial. On January 17th, US President Donald Trump launched the Official Trump token on the Solana blockchain. Then, after two days, the First Lady also announced her coin, the “Melania Coin”, supported by the Solana blockchain.
President Trump used Truth Social to announce his crypto coin, encouraging the community to join the celebration and the special Trump Community. Days after its launch, the Trump token hit an all-time high of $75, pushing the project’s market cap to $15 billion.
However, the enthusiasm on Trump’s coin immediately fizzled, trading at the $37 level, reflecting a 50% drop. Also, the Melania meme coin suffered the same fate, plunging by 80%, and it’s now trading at $2.8.
Trump Continues Pro-Crypto Stance
Before the November elections, Trump indicated his intention to support Bitcoin and crypto projects. He promised a favorable crypto environment and outlined specific plans, including replacing SEC Chair Gary Gensler and supporting a Bitcoin reserve.
On January 23rd, Trump issued his first crypto regulation, banning the creation and issuance of the Central Bank Digital Currency (CBDC).
Featured image from Tobias Hase/Picture Alliance/Getty Images, chart from TradingView
Source: NewsBTC