Ivanka Trump has criticized the fake memecoin IVANKA, users should be careful to avoid losing money.

Trump's daughter's turn to issue coins?

Yesterday (January 23), Ivanka Trump spoke out to expose a memecoin bearing her name, claiming it was fake and could pose risks to investors. Trump's daughter clarified on X:

“I have just received information about a fake cryptocurrency called Ivanka Trump or IVANKA that is being promoted without my approval. I confirm that I have no connection with this coin. The fake token risks deceiving users and stealing your money, the unauthorized use of my name and image is a violation of my rights."

Ivanka's legal team is currently reviewing and will take steps to prevent further misuse of her name.

IVANKA appears to have been released on the Ethereum blockchain in May 2024 and is priced at less than $0.01, with a market cap of around $252,400 and a circulation of over 420.6 billion coins, according to CoinMarketCap.

IVANKA price movement on daily frame, screenshot from CoinMarketCap at 10:20 AM on 01/24/2025

Trump family coin issuance history

The incident came after her parents, President Donald Trump and First Lady Melania Trump, launched coins named after themselves, Official Trump (TRUMP) and Melania Meme (MELANIA).

Meanwhile, a meme coin with the name and image of Barron Trump was also released on the Solana blockchain in July 2024, with a market capitalization of about $133,000, but no member of the Trump family has acknowledged any connection to this token.

TRUMP’s appeal is different. The meme coin quickly reached a market capitalization of $15 billion after only 2 days of launch, but it is also unstable. TRUMP has fallen nearly 10% in the last 24 hours of trading, down to $35.73, and its market capitalization has also split in half to the $7.1 billion mark.

TRUMP price movement on daily chart, CoinGecko screenshot at 10:20 AM on 01/24/2025

In the same frame of reference, Melania Trump's official meme coin, MELANIA, fell even further, dropping 27.5% on Thursday to below $2.70, with a market capitalization of $474.4 million. The token is down nearly 50% from its Monday peak.

MELANIA price movement on daily chart, CoinGecko screenshot at 10:20 AM on 24/01/2025

Additionally, Ivanka's brothers, Donald Trump Jr. and Eric Trump, are also behind the DeFi project World Liberty Financial, which launched its WLFI token sale in October 2024.

Public opinion after coin launch

The appearance of two memes of Donald Trump and First Lady Melania Trump right before his inauguration has created many mixed opinions.

Nic Carter, co-founder of Castle Island Ventures, called the coin’s launch “unprecedentedly stupid.” An unnamed lobbyist also called it “a terrible image” for the crypto industry, which is trying to prove “we’re not a bunch of crooks, frauds, and scammers.” Messari founder Ryan Selkis even called on Donald Trump to fire the person who advised him to go ahead with the MELANIA launch.

According to Shark Tank star Mark Cuban, President Trump's memecoin not only erodes public confidence in crypto, but also poses a major obstacle to the industry's legitimacy and professional image. That's why the billionaire intends to issue a memecoin but use all the proceeds from the token sale to reduce the US public debt.

The latest criticism comes from Vitalik Buterin, who says that TRUMP and MELANIA have crossed an ethical line. The father of Ethereum, a political token in general, can facilitate bribery, especially when used by foreign countries to exert political influence.

Senator Elizabeth Warren and Representative Jacob Auchincloss have been outspoken that a politician's token not only creates a conflict of interest but also facilitates foreign interference in the President.

However, not everyone is against political coins, as evidenced by David Sacks, a crypto and AI advisor at the White House, who sees Trump's memecoin as just a collectible item.