Ivanka Trump, the daughter of U.S. President Donald Trump, warned investors on Thursday not to buy fraudulent cryptocurrencies bearing her name. Ivanka wrote on social media site
Ivanka’s warning follows the emergence of meme tokens named “Trump” and “Melania” on crypto markets over the weekend, using the names of the current president and first lady respectively.
“Trumpcoin” almost immediately added billions to the sitting president’s net worth on paper, with the meme token now trading at around $37, down 50% from its peak shortly after its release. Likewise, the “Melania” token has fallen 80% from its weekend highs and is currently trading at $2.84.
The Trump Coin website states that 80% of the tokens are held by the Trump Organization and its affiliates. Meme tokens are growing in popularity among crypto traders, but are particularly volatile as they have no underlying asset of any value.
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