Ivanka Trump calls out 'fake crypto coin' named after her

Ivanka Trump, President Trump’s eldest daughter, warned Thursday that a cryptocurrency token bearing her name is fake.

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

“To be clear: I have no involvement with this coin,” Trump continued. “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. This promotion is deceptive, exploitative, and unacceptable.”

Trump’s legal team plans to take measures to “stop the continued misuse of my name,” she added.

Her denouncement of the fake coin comes just days after her father and first lady Melania Trump released their own crypto tokens.

The president launched $TRUMP, which is currently trading at about $37, on Friday. Two days later, the first lady announced $MELANIA, whose value now sits at just less than $3.

The two tokens are regarded as meme coins, cryptocurrencies that are typically based on internet trends, lack any inherent value and tend to be highly volatile. $TRUMP began trading below $10 and jumped to more than $70 in its first 48 hours.

The Trump family’s meme coins have sparked backlash from some in the crypto world, who have expressed concerns that the tokens could cast a shadow on the president’s efforts to boost crypto.

President Trump, who once dismissed crypto as a “scam,” discovered a newfound appreciation for the industry during his campaign and has vowed to make the U.S. the “crypto capital of the planet.”

Trump’s inauguration represented a marked shift for the digital assets industry, which had a tense relationship with the Biden administration and former Securities and Exchange Commission (SEC) Chair Gary Gensler.

The president has tapped several pro-crypto candidates to serve in his administration, including Paul Atkins, who is set to take over as SEC chair, and Howard Lutnick, Trump’s nominee to lead the Commerce Department.

Venture capitalist David Sacks, who hosted the first-ever "crypto ball" last week, is also taking on the newly created role of White House czar for artificial intelligence and crypto.

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