A token apparently launched by U.S. celebrity Caitlyn Jenner on the Solana blockchain has left the crypto market in a state of confusion. Late Sunday, a post on Jenner’s X (formerly Twitter) account announced the issuance of the JENNER token using the Solana token deployer Pump Fun. However, market participants quickly dismissed the announcement as a potential hack, given the history of compromised celebrity accounts promoting fraudulent tokens or crypto protocols.
Unusual Activity and Persistent Posts
Typically, such account compromises are detected and shut down promptly by X’s security teams. However, Jenner’s account continued to advertise the token for hours after the initial announcement. “Nothing has been hacked,” one post read. Another post boldly claimed, “We will be solely focused on $Jenner and expect to hit $50m market cap in the first 24 hours.”
Celebrity Token Promotions and SEC Concerns
Crypto market observers remained skeptical about the token’s legitimacy. The U.S. Securities and Exchange Commission (SEC) has previously charged several American celebrities for promoting tokens without proper disclosure. This context added to the suspicion surrounding the JENNER token.
Also Read: Ghana and Singapore Pilot Trade with Semi-Fungible Tokens
Videos Add to the Mystery
Approximately six hours after the token’s issuance, Jenner’s account released a video purportedly showing the celebrity discussing the token. The post emphasized that the video was not a “deep fake” and claimed the token had recorded over $113 million in trading volumes within four hours. “This is real. Get involved,” Jenner said in the video. “My new crypto coin.”
In a separate video post, Jenner’s manager, Sophia Hutchins, appeared to confirm the token’s authenticity and mentioned she was “managing the crypto project.” Despite these assurances, some X users continued to dismiss the video as a potential deep fake.
Social Media and Market Reactions
The Block reported that similar promotional posts were made on Jenner’s Instagram account, though CoinDesk noted these posts were not visible on Jenner’s account as of 10:48 UTC, suggesting they had been removed.
Meanwhile, on the predictions platform Polymarket, only 4% of participants voted “Yes” on the “Was Caitlyn Jenner hacked?” market. This market attracted over $1.2 million in bets by early afternoon in Europe.
