• Caitlyn Jenner faces class action over $JENNER cryptocurrency losses
• GoGetFunding campaign earns seven dollars from two contributors
• Token plummeted from six million to under sixty thousand dollars

LOS ANGELES, Calif. (TDR) — Caitlyn Jenner launched a crowdfunding campaign to cover legal expenses from a class action lawsuit alleging she misled cryptocurrency investors. The “Memecoins Are Not Securities” fundraiser on GoGetFunding raised $7 from two donors since April 2025, despite her claim the case has “broad implications for the crypto community.”

Investors Naeem Azad and Mihai Caluseru filed suit in November 2024, alleging Jenner and manager Sophia Hutchins violated federal and state securities laws promoting the $JENNER memecoin. Plaintiffs claim they lost more than $56,000 combined after purchasing tokens on Ethereum and Solana blockchains based on what they allege were “false and misleading statements.”

The $JENNER cryptocurrency launched on Solana in May 2024 through Pump.fun, generating immediate controversy. Jenner blamed collaborator Sahil Arora for “scamming” her, claiming he conducted an exit scam. Days later, she relaunched an identical token on Ethereum despite promising investors she would support the original Solana version.

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CoinMarketCap data shows the token peaked at $6 million in July 2024 before plummeting to $200,000 by September. The cryptocurrency never recovered, currently trading at roughly $59,000 market capitalization. Court documents indicate the token lost 99% of its peak value amid allegations of insider trading.

Jenner promoted the memecoin during Pride Month, posting: “Now the question is whether to build a gayfolio for [Pride] month? …I mean is any gayfolio actually complete without $Jenner on $ETH …?” The lawsuit alleges she used celebrity status to inflate value before abandoning promotional efforts.

U.S. District Judge Stanley Blumenfeld Jr. dismissed the class action in May 2025, ruling lead plaintiff Lee Greenfield failed to establish U.S. jurisdiction. The British investor claimed losses exceeding $40,000 but could not demonstrate transactions occurred within American territory.

In September 2024, Jenner mocked someone who lost life savings investing in her memecoin. “Why would you put your life savings into a meme coin?” she posted, displaying apparent indifference to investor losses.

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On her GoGetFunding page, Jenner wrote: “We love crypto and digital assets. We love the communities around the different projects, platforms, and memecoins.” The fundraiser promises “100% of your donations will go to our legal costs.”

Plaintiffs alleged Jenner failed to register $JENNER with the Securities and Exchange Commission, preventing investors from evaluating risks. They claimed she charged a 3% fee on Ethereum transactions, profiting from moves that diluted the Solana token’s value.

Court filings revealed Jenner promoted another token called $BBARK, named after her and Hutchins’s dogs, despite allegedly assuring followers she remained “fully focused” on tokens bearing her name.

Despite minimal fundraising success, Jenner maintains the lawsuit is “meritless” and claims victory will benefit the crypto community. Her legal team at Winston & Strawn argues memecoins don’t constitute securities under federal law.

Should celebrities face stricter accountability for promoting cryptocurrencies that collapse and leave investors with substantial losses?

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