Caitlyn Jenner faces legal action for 'fraudulent activity'

Caitlyn Jenner has been accused of a wrong doing as she was slammed with a lawsuit over her $JENNER meme coin.

The 76-year-old launched the meme coin in late May 2024 and further expanded it to Ethereum.

According to legal documents, the TV star is now facing a suit because of the coin as many investors claim it to be crypto cash grab.

It is being alleged by Lee Greenfield that she and her manager Sophia Hutchins are the masterminds behind a crypto “pump and dump.”

The duo marketed the coin to be a “long-term play,” ensuring that it would be profitable and encouraging everyone to invest.

Caitlyn was accused of promoting the coin to her fans with slogans like: “We’re sending this coin to the moon!!!”

Despite tying it to MAGA and Donald Trump, she shifted the focus to another coin $BBARK which caused the original one to carter “by roughly 75 percent.”

Why is Caitlyn Jenner's coin a scam?

The suit detailed about one of the promoter Sahil Arora withdrawing funds, causing it to crash. It is to be noted that the socialite herself called Sahil a scammer online.

The alleged victim claims to have lost $40,000 after investing in the project while people managing were profiting from fees and token sales.

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