Memecoins
Caitlyn Jenner and Rich The Kid X accounts push Memecoins
Last updated: May 27, 2024, 11:25 a.m. EDT | 2 minutes of reading
Celebrities Caitlyn Jenner and Rich The Kid began boosting namesake crypto memecoins on their respective X accounts over Memorial Day weekend, sparking hacking concerns from X users.
In a Sunday postReality TV star and Olympic athlete Caitlyn Jenner announced that she has launched her own cryptocurrency token, JENNER, using Solana. memecoin creator pump.fun.
Monday morning, JENNER had reached a market capitalization of $37 million.
make America great!!! 🇺🇸  and we love crypto!
https://t.co/SiYwteBGkv @pumpdotfun 🫡 pic.twitter.com/3IDlAoaQJq-Caitlyn Jenner (@Caitlyn_Jenner) May 26, 2024
Track Caitlyn Jenner’s Crypto Token
“I’m still bullish on crypto! We cannot simply rely on government-backed currencies, especially today with rampant inflation and massive government spending,” Jenner said. “And of course, that doesn’t just include $Jenner but it doesn’t hurt to enrich a well-balanced portfolio!
Following hacking issues, Jenner and her manager, Sophia Hutchins, posted videos on her X account confirming the validity of the memecoin.
“His account was not hacked,” Hutchins said, adding that the cryptocurrency “works extraordinarily well.”
“Yes, it’s real,” Jenner said. “Being involved. It’s going to be great. I’m very excited about it.
However, not everyone was convinced of the legitimacy of the token, with several X users suggesting the videos could be deepfakes.
Rich The Kid at the Center of Alleged Crypto Scam
In the now-deleted X-posts, rapper Rich The Kid also posted a Pump.fun link announcing his new memecoin, RICH.
In a video published Monday morningRoger alleged that his X page was hacked without his knowledge, resulting in the promotion of RICH.
if anyone wants the TLDR on the @Caitlyn_Jenner the situation is here
She was never hacked, her team was socially engineered by a guy named Sahil.
He was the “middleman” and his role was to launch the token for Caitlyn because the team knew nothing about cryptography.
After… pic.twitter.com/yZloKHlon6
–Roxo (@CryptoRoxo) May 27, 2024
Roger mentioned that this was done by an individual named “Sahil”, although no last name was given.
A user named @cryptoRoxo claimed that it could be Sahil Arora, who allegedly served as an intermediary for Roger and Jenner’s crypto projects.
Celebrities haven’t been shy about trying their hand at cryptocurrency, according to the U.S. Securities and Exchange Commission (SEC). charge prominent figures such as Lindsay Lohan, Floyd Mayweather, Jake Paul and Lil Yachty for illegally promoting crypto.
On Monday morning, Jenner took to X to warn investors of potential losses regarding her cryptocurrencies.
“Not all cryptocurrencies, tokens, coins, or other crypto assets are the right investment for all individuals,” Jenner wrote. “There is always risk associated with any investment, including loss of value. »
In the meantime, RTK announced on that a new cryptocurrency token separate from Sahil would be launched by Monday evening.
While it’s unclear who exactly is behind the celebrity crypto promotion, Jenner and Roger could face serious legal consequences if memecoins turn out to be scams.