Caitlyn Jenner’s crypto rollout is now facing a courtroom reckoning after investors accused the former Olympian of helping fuel a meme coin collapse that allegedly wiped out thousands in losses. The lawsuit centers around the $JENNER token, a celebrity-backed cryptocurrency that exploded online last year before rapidly losing value, pulling Jenner deeper into the growing list of public figures tied to crypto controversy.
According to a newly filed class action complaint, investor Lee Greenfield claims Jenner and manager Sophia Hutchins promoted the coin as a serious long-term project while allegedly encouraging followers to buy into the hype. The suit points to social media posts where Jenner reportedly told supporters she was “solely focused” on the token and promised, “We’re sending this coin to the moon!!!”
The complaint claims the project initially gained traction by attaching itself to pro-Trump and MAGA messaging, a strategy plaintiffs argue helped attract politically aligned retail investors already active in speculative meme coin markets. Meme coins, unlike traditional cryptocurrencies such as Bitcoin or Ethereum, are often driven more by internet culture, celebrity attention, and viral momentum than by underlying technology or utility. That volatility has turned the space into fertile ground for pump-and-dump allegations across the crypto industry.
The lawsuit also references crypto promoter Sahil Arora, who allegedly helped launch the token before being accused of draining liquidity and crashing its value. Jenner later publicly criticized Arora online, calling him a scammer, but plaintiffs argue the promotion of alternate versions of the coin continued even after confidence in the project cratered.
Greenfield claims he personally lost more than $40,000 after investing in $JENNER. Investors are now seeking damages, alleging they were misled into buying a coin that rapidly collapsed once the hype cycle cooled and insiders allegedly profited from transaction fees and token sales.
The case adds to mounting legal scrutiny surrounding celebrity crypto endorsements after multiple stars faced backlash for promoting risky digital assets without fully disclosing financial arrangements or investment risks.
