Ivanka Trump, the president’s eldest daughter, warned investors that there is an imposter meme coin using her name soon after the president and first lady launched their own namesake tokens.
She said the $IVANKA crypto coin, which uses her name and likeness, is being promoted without her consent or approval.
“To be clear: I have no involvement with this coin,” she wrote in a post on X. “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.”
Ivanka said her legal team is reviewing the issue and “will be pursuing measures” to stop the use of her name.
She and her husband, Jared Kushner, were both senior advisors to the president during Trump’s first administration. They have not been as involved in his second campaign or administration thus far.
Ivanka’s rejection of the meme coin comes just days after Trump and his wife, first lady Melania Trump, launched their own tokens.
The coins have no value and are largely tied to the couple’s popularity.
The president’s $TRUMP meme coin has been on a bumpy ride since launching. It sank to around $30 on Monday night after the president failed to discuss digital assets on his first day in office. The drop followed a peak of around $70 on Sunday.
It ticked back up after the SEC announced a crypto task force that aims to improve regulation on the industry, but has since slumped back down to around $32.
The $MELANIA coin has fallen 80% since its weekend peak, currently trading at about $2.60.
Trump’s token has a market cap worth $6.56 billion, while Melania’s is worth $441 million.
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