Caitlyn Jenner is now begging for money online after legal fallout from her memecoin
Reality TV star and former gubernatorial candidate Caitlyn Jenner is now asking her supporters to send her money to support her legal defense fund in response to a lawsuit against her for alleged financial malfeasance.
“I have been named a defendant in a lawsuit re: the $Jenner memecoins, alleging ‘securities’ violations,” she posted to X, linking a crowdfunding campaign. “Let’s all be freedom maximalist.”
Jenner was sued in November, months after she released her $Jenner meme coin on the Ethereum blockchain. Two people – Nazeem Azad of the United Kingdom and Nihai Caluseru of Romania — alleged that they would not have bought the meme coin if not for Jenner’s actions, which included that she “fraudulently solicited financially unsophisticated investors throughout the United States and abroad to purchase the unregistered securities.”
They also accused her of not registering the financial asset with the Securities and Exchange Commission (SEC) and of failing to comply with federal and state laws around securities, which meant that buyers of $Jenner didn’t have all the information they needed to understand the investment.
Jenner promoted the memecoin widely last year, encouraging people to buy it, possibly to increase its value so she could sell her own holdings of it at a high price and then abandon it. For example, she posted a Pride Month picture in June 2024 and then followed it up with, “Now the question is whether to build a gayfolio for [Pride] month? …I mean is any gayfolio actually complete without $Jenner on $ETH …?”
CoinMarketCap shows that the total market value of $Jenner hit around $6 million in July last year before dropping to around $200,000 by September and never recovering. The lawsuit alleges that Jenner stopped talking up the memecoin after using her celebrity status to promote it for several months.
Jenner made a statement in September in which she mocked someone who lost their life savings because of the meme coin. “Why would you put your life savings into a meme coin? Sorry you don’t believe in me anymore 🙁 but it’s all good! We aren’t going anywhere.”
Now, Jenner is posting to X that she needs help paying the legal bills associated with the lawsuit.
“The case is the tip of the spear, and I am vigorously defending myself,” she wrote. “A motion to dismiss the case, filed by my attorneys at Winston & Strawn, explaining many of the reasons the case fails, is attached. Unfortunately, fighting against such claims is very expensive and time-consuming. Given the larger implications of the case, I have set up a legal defense fund and I ask that the community please support us.”
“Lawsuits like this are not the way to grow crypto.”
She set up a campaign on GoGetFunding.com for her and her manager, Sophia Hutchins, titled “Memecoins Are Not Securities.” On the site, she writes: “We love crypto and digital assets. We love the communities around the different projects, platforms, and memecoins.”
In a section that has since be deleted, she added, “I AM VERY EXCITED ABOUT THE PROGRESS AND THE NEW INDIVIDUALS AT THE SEC. UNFORTUNATELY, LITIGATION AND RED TAPE ONLY STIFLE GROWTH. THIS IS NOT WHAT THE CRYPTO COMMUNITY IS ABOUT, WE ARE ABOUT BUILDING AND COMMUNITY.” [sic]
So far, her campaign has earned $7 from a total of two donors.
Jenner made headlines when she started her campaign for governor of California in 2021 and discussed her private jets in her air hangar in Malibu with Sean Hannity. She couldn’t stop bringing up the topic in the early campaign interview.
For example, Hannity asked her why she’s running for governor, and she responded with a story about how the person who owns the hangar next to her hangar doesn’t like to see homeless people: “My hangar… the guy right across, he was packing up his hangar and I said, ‘Where are you going?’ And he says, ‘I’m moving to Sedona, Arizona, I can’t take it anymore. I can’t walk down the streets and see the homeless.’”
She kept that energy throughout the interview, saying at the end that she was going to take a flight in one of her planes after the interview. Hannity seemed at a loss for how to respond.