Cryptocurrency scams are an unfortunate yet familiar phenomenon in the digital asset landscape. However, when a high-profile figure like Ivanka Trump publicly denounces a fraudulent coin using her name, it serves as a powerful reminder for investors to tread carefully. On January 23, 2025, Ivanka Trump, daughter of former President Donald Trump, issued a warning about a scam meme coin called “Ivanka Trump” or “$IVANKA.” Taking to the social media platform X (formerly Twitter), Ivanka explicitly stated she has no affiliation with the token, describing it as a deceptive effort meant to defraud investors.
“I have no involvement with this coin. This fake coin risks deceiving consumers and defrauding them of their hard-earned money,” she announced. Her words not only clarified her lack of association with the cryptocurrency but also highlighted the broader dangers lurking in the largely unregulated world of digital assets.
The fraudulent $IVANKA coin emerges during a broader trend of meme coins—cryptocurrencies often created as jokes or inspired by public figures—gaining fleeting popularity. While these coins occasionally spark trading frenzies, they rarely have tangible backing or intrinsic value and often serve as breeding grounds for scams. The speculative frenzy surrounding meme coins can attract novice investors lured by rapid gains, only to end in financial losses due to their volatility and lack of transparency.
Interestingly, this episode coincides with the launch of two other Trump-related cryptocurrencies: the $TRUMP coin, attributed to Donald Trump, and the $MELANIA coin, named after former First Lady Melania Trump. Released just days before on January 20, 2025, these tokens also rode a wave of initial hype. However, their performance underscores the speculative and risky nature of such ventures.
The $TRUMP coin initially soared in value, adding billions to Donald Trump’s paper net worth. Despite its meteoric rise, the token’s value has since plummeted by 50% to its current trading price of $37. Meanwhile, the $MELANIA coin has fared worse, experiencing an 80% decline to just $2.84 per token. These rapid losses are a stark warning about the volatility of meme coins and their potential to expose investors to massive financial setbacks.
Adding to the concerns, the $TRUMP coin’s website discloses that 80% of the tokens are controlled by the Trump Organization and its affiliates, raising red flags about centralization and diminishing its appeal as a decentralized cryptocurrency. For many, these revelations reinforce doubts about the long-term viability of coins tied to public figures and underscore the speculative nature of such investments.
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