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Trump Family Divided Over Memecoins as Ivanka Denounces Unauthorized Token

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Ivanka Trump opposes unauthorized cryptocurrency while other family members launch their own.


Ivanka Trump opposes unauthorized cryptocurrency while other family members launch their own.

A growing controversy within the Trump family has brought cryptocurrency into the spotlight, as Ivanka Trump distances herself from an unauthorized memecoin bearing her name while other members of her family embrace their own digital tokens.


Ivanka Trump has publicly condemned the $IVANKA memecoin, which has been using her name and likeness without her permission. In a statement on X (formerly Twitter), she expressed her disapproval and warned consumers against being misled by the project.


“To be clear: I have no involvement with this coin. This fake coin risks deceiving consumers and defrauding them of their hard-earned money,” she wrote, calling the project “deceptive, exploitative, and unacceptable.”

The $IVANKA token, initially hyped during Donald Trump’s inauguration, has seen its value plummet. Trading at just $0.0000008211, it has fallen 87% from its all-time high of $0.000006537. Despite its market struggles, the coin’s promotional materials reference Ivanka’s achievements, including her time as a senior advisor in the White House and her role as executive vice president of the Trump Organization. Her legal team is now exploring options to halt the unauthorized use of her identity and prevent potential fraud.


While Ivanka distances herself from cryptocurrency ventures, her father and stepmother are taking a different approach. Donald Trump recently launched the Official Trump memecoin, a project operating on the Solana blockchain, which he promoted through his social media platform Truth Social. “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community,” he announced.


The Official Trump token experienced a meteoric rise, reaching a peak value of $75 shortly after its launch and attaining a market cap of nearly $15 billion. However, the price has since settled to $39 amid fluctuating market conditions. Despite the token’s success, Trump downplayed his involvement, stating, “I don’t know much about it other than I launched it,” during a press appearance.


Melania Trump also entered the cryptocurrency space by launching her own token, Melana Meme, on January 19. Like Donald’s token, Melana Meme operates on the Solana blockchain. The release of these tokens has sparked mixed reactions, with some viewing them as legitimate ventures and others criticizing them as opportunistic stunts that could harm cryptocurrency’s credibility.


Crypto industry insiders have been closely monitoring the Trump family’s ventures. CryptoQuant CEO Ki Young Ju suggested that meme coins like these, while controversial, have the potential to draw more attention to the crypto market. However, the unauthorized $IVANKA token continues to face significant challenges, including dwindling investor interest and potential legal action.


The controversy surrounding these tokens comes as Donald Trump positions himself as a crypto advocate, recently declaring his intent to make the United States the “crypto capital of the world.” Whether this ambition ties into the family’s recent flurry of cryptocurrency launches remains unclear, but it has added another layer of intrigue to their ongoing influence in the public sphere.


As Ivanka’s legal team prepares to combat the unauthorized use of her name, the broader crypto community is left to debate the ethics of celebrity-backed tokens. Meanwhile, the market performance of these tokens continues to fluctuate, reflecting the volatile nature of cryptocurrency and the enduring appeal of the Trump brand.


photo source / Blockonome

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Blockonome's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

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