Ivanka Trump issued a warning on Thursday, cautioning consumers about a “fake” cryptocurrency token using her name without consent. The statement comes after reports that both President Donald Trump and First Lady Melania Trump had promoted meme cryptocurrencies bearing their names, reportedly earning millions in fees from the ventures.
“It has come to my attention that a fake crypto coin called ‘Ivanka Trump’ or ‘$IVANKA’ is being promoted without my consent or approval,” Ivanka said in her statement. “To be clear: I have no involvement with this coin.
This fake coin risks deceiving consumers and defrauding them of their hard-earned money, and the unauthorized use of my name and likeness is a violation of my rights.” She denounced the promotion as “deceptive, exploitative, and unacceptable,” and confirmed that her legal team is “reviewing and will be pursuing measures to stop the continued misuse of my name.”
The unauthorized token began circulating shortly after President Trump assumed office. Enthusiastic crypto advocates quickly latched onto the coin, with one user on X (formerly Twitter) writing, “If you aren’t aping in $IVANKA right now there is something wrong with your brain,” just a day after the inauguration.
Ivanka’s warning highlights the risks posed to consumers by fraudulent crypto schemes leveraging high-profile names to lure investors. Cryptocurrency markets, known for their volatility and lack of regulation, have seen a surge in scams, with unauthorized tokens often exploiting the popularity of public figures to create false legitimacy.
This controversy follows increased scrutiny of the Trump family’s involvement in cryptocurrency promotions. While President Trump and Melania Trump’s endorsed meme tokens have sparked debates over ethics and potential financial exploitation, Ivanka’s swift disavowal of the “$IVANKA” coin suggests a clear effort to distance herself from such schemes.
As cryptocurrency continues to gain mainstream attention, Ivanka’s warning serves as a reminder for consumers to exercise caution and verify the authenticity of any investment opportunities, particularly those linked to prominent figures. Meanwhile, her legal team’s promised action could set a precedent for combating unauthorized use of public figures’ identities in the crypto space.