Celebrities Caitlyn Jenner and Rich The Kid have sparked concerns over potential scams as they promote their own memecoins on their respective X accounts. Over the Memorial Day weekend, Caitlyn Jenner announced the launch of her cryptocurrency token, JENNER, using the Solana memecoin creator pump.fun. By Monday morning, JENNER had reached a market capitalization of $37 million. However, there were hacking concerns raised by X users, prompting Jenner and her manager to post videos confirming the memecoin’s legitimacy. Similarly, Rich The Kid advertised his new memecoin, RICH, on X, but claimed his account had been hacked without his knowledge. Speculation arose that an individual named Sahil Arora may be involved in promoting both Jenner and Rich The Kid’s crypto projects. Celebrities have faced legal consequences for promoting cryptocurrency, and both Jenner and Rich The Kid could face similar outcomes if their memecoins turn out to be scams.
