Imagine that you happily followed the footsteps of Olympic gold medalist Caitlyn Jenner and invested in the cryptocurrency JENNER she strongly recommended, hoping to take this opportunity to make a big splash in the cryptocurrency circle. However, the result was that you lost all your money. Why is this?
Recently, two international investors filed a securities class action lawsuit against Caitlyn Jenner in a California federal court, accusing her of securities fraud and unregistered JENNER token issuance. It turns out that you are not the only victim. Many investors have suffered heavy losses due to Jenner's "misleading propaganda", and the cumulative amount has exceeded $50,000!
Back then, the JENNER token was very popular once it was launched on the Solana and Ethereum blockchains, with soaring trading volumes and investors flocking in. However, the good times did not last long, as the token price quickly plummeted by 99%, and the project was suspected to have been abandoned by Jenner. Is this a carefully planned scam or a ruthless trick of the market?
During the lawsuit, Jenner's various misconducts were revealed one by one: she cooperated with Sahil Arora, who had a history of fraud, and the token price collapsed due to Arora's selling; her promised exchange listing and buyback plans were not fulfilled; she even quietly implemented a 3% transaction tax on the Ethereum version of the token, and the funds previously promised to donate to Trump's 2024 campaign disappeared out of thin air.
In the face of these accusations, Jenner seems to have chosen to remain silent and no longer actively promote the token that has put her in the whirlpool of public opinion, leaving investors alone to bear huge losses. As a public figure, should she pay for the trust of investors?
This lawsuit not only damaged Jenner's public image, but also triggered widespread doubts about celebrity endorsements of cryptocurrency projects. In this market full of temptations and risks, how can we distinguish between the real and the fake and protect our property security?
Here, I would like to remind investors not to blindly follow the cryptocurrency projects endorsed by celebrities. Before investing, please be sure to conduct sufficient investigation and risk assessment to avoid repeating the same mistakes. At the same time, we also hope that relevant departments can strengthen the supervision of such projects and create a more fair and transparent market environment for investors.
For more news analysis, real-time analysis and prediction of currency prices, and SWAP cross-chain exchange, please visit: 🤖👉Visit mlion.ai
The above content is for information sharing only and does not constitute any investment advice! Investment is risky, so be cautious when entering the market!
Follow me and I will share more market information with you every day.
