A class action lawsuit filed Tuesday accuses Caitlyn Jenner and her manager, Sophia Hutchins, of orchestrating a cryptocurrency scheme that allegedly defrauded investors through misleading promotional tactics and abrupt strategic shifts.
The 97-page complaint, filed by plaintiff Lee Greenfield, alleges that Jenner promoted the $JENNER meme coin as a legitimate long-term investment while simultaneously engaging in what investors characterize as a classic pump and dump operation. Greenfield claims he personally lost more than $40,000 after purchasing the cryptocurrency based on Jenner's public endorsements.
According to the filing, Jenner aggressively marketed the digital token to her substantial social media following, repeatedly assuring potential buyers that she was "solely focused" on the coin's success. The lawsuit includes numerous screenshots of promotional posts in which Jenner allegedly used phrases such as "We're sending this coin to the moon!!!" to generate investor enthusiasm.
The complaint further alleges that Jenner strategically linked the cryptocurrency to Donald Trump and MAGA messaging in an apparent effort to attract politically aligned buyers. This marketing approach, investors claim, created false confidence in the token's viability and long-term prospects.
The situation deteriorated rapidly when Jenner allegedly shifted her promotional efforts to a different cryptocurrency called $BBARK just days after the $JENNER token launched. This abrupt pivot, according to the lawsuit, triggered a catastrophic decline in the original token's value, with prices plummeting approximately 75 percent.
The legal filing identifies promoter Sahil Arora as a central figure in the alleged scheme. Arora, who reportedly helped launch the coin, stands accused of extracting funds from the operation and contributing to its collapse. The lawsuit notes that Jenner subsequently denounced Arora publicly as a scammer, yet continued promoting alternative versions of the cryptocurrency despite the controversy.
Investors contend that Jenner maintained public assurances about the coin's legitimacy and imminent success even as individuals associated with the project allegedly profited through transaction fees and token sales. This disconnect between public messaging and behind-the-scenes financial activity forms the core of the fraud allegations.
The class action seeks full restitution for investors who purchased the $JENNER token, plus additional damages for the alleged misrepresentation and financial harm. The case represents the latest in a growing trend of legal challenges targeting celebrity-endorsed cryptocurrency ventures, which have increasingly drawn scrutiny from regulators and consumer protection advocates.
The cryptocurrency market has witnessed numerous high-profile controversies involving celebrity promoters, with investors frequently alleging that famous personalities leverage their public platforms to artificially inflate token values before abandoning projects. Legal experts note that such cases often hinge on proving whether promoters made materially false statements or concealed conflicts of interest from potential buyers.
Neither Jenner nor Hutchins has publicly responded to the allegations contained in the lawsuit. The case will likely proceed through discovery, during which plaintiffs will seek internal communications and financial records related to the $JENNER token's creation, promotion, and subsequent collapse.
