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Ivanka Trumpdaughter President Donald Trumpwarns investors against purchasing fake cryptocurrency bearing her name.
“I have become aware that a counterfeit crypto coin called 'Ivanka Trump' or '$IVANKA' is being promoted without my consent and approval,” she wrote in a statement. post on social networking site X on Thursday. “Let me be clear: I have nothing to do with this coin. This counterfeit coin has the potential to mislead consumers and cheat them out of their hard-earned money.”
Ivanka Trump and her husband Jared Kushner played significant leadership roles in Trump's first White House but did not play a key role in the new administration.
Her warnings come after meme tokens called $TRUMP and $MELANIA, for the president and first lady, respectively, were released over the weekend.
$TRUMP coin, which almost immediately strengthened The president's billion-dollar net worth on paper is now about $37, down 50% from its peak shortly after launch. Similarly, the $MELANIA token is down 80% from its weekend high, currently trading at $2.84.
The website for $TRUMP claims that 80% of the coins are held by the Trump Organization and its affiliates. Meme coins are becoming increasingly popular among cryptocurrency traders, but they are particularly volatile because they have no underlying asset of any value.
