Former Olympian and reality TV star Caitlyn Jenner is at the center of a cryptocurrency controversy after her X and Instagram accounts promoted a new memecoin called JENNER.
The sudden announcement of the token’s launch on Solana-based platform Pump.fun sparked a heated debate within the cryptocurrency community about the authenticity of the project and the possibility of organized fraud.
TLDR
- Caitlyn Jenner’s Instagram account with
- A video featuring Jenner and her manager Sophia Hutchins claimed the project was legitimate, but skepticism persisted in the cryptocurrency community.
- Concerns were raised about possible fraud as the Zener token’s wallet address was linked to accounts promoting other previously hacked tokens.
- Other celebrity accounts, including rapper Rich The Kid and cryptocurrency influencer GCR, have also been hacked and are promoting various tokens.
- Despite the controversy, the JENNER token experienced significant price growth and its market capitalization reached $18 million.
A video featuring Jenner and her manager Sophia Hutchins surfaced on social media, with both claiming that the JENNER token was a legitimate venture.
Hutchins also joined the Twitter Space discussion to address concerns and assure followers that Jenner’s account was not compromised.
However, many in the cryptocurrency community remained skeptical, citing the lack of clear answers about the token’s value proposition and when it would launch.
Suspicions were further fueled by the fact that the wallet address associated with the JENNER token was linked to another previously hacked account.
Just a few days ago, the account of adult content creator Kazumi, who promoted another token called ZUMI, shared the same wallet address as the JENNER token.
The connection raised red flags among cryptocurrency enthusiasts, who began speculating about a possible organized fraud.
The JENNER token controversy comes amid a surge in similar incidents involving celebrity accounts on social media platforms.
Rapper Rich The Kid and prominent cryptocurrency investor Gigantic-Cassocked-Rebirth (GCR) both had their X accounts hacked, with the compromised accounts promoting various tokens.
Although Rich The Kid’s post was eventually deleted, GCR’s account posted about ORDI and LUNA2, causing a temporary price spike for both tokens.
Despite the concerns and skepticism surrounding the JENNER token, the JENNER token experienced an incredible price increase of 28,000% in one day.
The token’s market capitalization reached $18 million, according to DEX Screener data, attracting the attention of both curious investors and those wary of potential scams.