{"id":424863,"date":"2026-04-19T10:52:07","date_gmt":"2026-04-19T05:22:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/caitlyn-jenner-memecoin-not-a-security-judge-rules-crypto-news\/"},"modified":"2026-04-19T12:29:07","modified_gmt":"2026-04-19T06:59:07","slug":"caitlyn-jenner-memecoin-not-a-security-judge-rules-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/caitlyn-jenner-memecoin-not-a-security-judge-rules-crypto-news\/","title":{"rendered":"Caitlyn Jenner Memecoin Not a Security, Judge Rules – Crypto News"},"content":{"rendered":"

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US media personality and former Olympian Caitlyn Jenner has escaped a class-action lawsuit after a federal judge ruled her memecoin was not a security under US law.<\/p>\n

California federal judge Stanley Blumenfeld Jr. wrote in an order<\/a> on Thursday that the lawsuit failed to plausibly plead that Caitlyn Jenner (JENNER) tokens were investment contracts, as they didn\u2019t pool investor money or use funds to develop \u201cany related product or technology.\u201d<\/p>\n

\u201cDefendants stated that \u2018[t]he $JENNER token is a memecoin on the Ethereum blockchain intended solely for entertainment purposes,\u2019 and that its value would increase because Jenner would use her fame and influence to promote it, increasing demand,\u201d the order said.<\/p>\n

\u201cPromotion alone, however, does not establish a common enterprise absent pooling or a structure linking investor fortunes,\u201d it added.<\/p>\n

A group of JENNER memecoin buyers first sued Jenner<\/a> and her late manager, Sophia Hutchins, in November 2024, claiming they lost thousands of dollars as the token\u2019s price collapsed and that JENNER was an unregistered securities offering.<\/p>\n

Caitlyn Jenner, pictured at a conference in 2017, was sued by a group of buyers of her memecoin that claimed they lost thousands of dollars. Source: <\/em>Web Summit<\/em><\/a><\/figcaption><\/figure>\n

Blumenfeld tossed the suit<\/a> in May 2025 for failure to state a claim, and the group filed an amended complaint later that same month, led by Lee Greenfield, a UK citizen who claimed he lost more than $40,000 investing in JENNER.<\/p>\n

The amended complaint had argued that investors had pooled their assets as Jenner promised that once the token reached a market value of $50 million, a 3% transaction fee would fund token buybacks, marketing, donations to Donald Trump\u2019s presidential campaign and a token for ownership in Jenner\u2019s Olympic gold medal.<\/p>\n

Blumenfeld wrote that the amended complaint heavily focused on planned donations to Trump, but didn\u2019t explain how investors believed that doing so would provide a financial return to them.<\/p>\n

\u201cNor is it clear that the alleged plan to distribute fractionalized ownership interests in Jenner\u2019s gold medal has any bearing on Greenfield\u2019s claim, since the plan was not announced until August 2024\u2014after the last of his purchases\u2014and was never executed,\u201d he added.<\/p>\n

Related: <\/strong><\/em>TRUMP whales load up as Mar-a-Lago luncheon approaches<\/strong><\/em><\/a><\/p>\n

Blumenfeld denied allowing the class group another chance to amend the lawsuit and added that claims regarding contracts and common law fraud under California law were best sent to state court.<\/p>\n

JENNER was first launched on the Solana blockchain via the memecoin creator Pump.fun in May 2024. It was soon embroiled in controversy<\/a> after Jenner and other memecoin launching celebrities claimed they were scammed by Sahil Arora, a claimed collaborator on the tokens.<\/p>\n

Jenner relaunched the token on Ethereum, which investors claimed diminished the value of the original Solana token. The token has since essentially lost all of its value after hitting a peak value of nearly $7.5 million in June 2024.<\/p>\n

Magazine: <\/strong><\/em>Memecoins: Betrayal of crypto\u2019s ideals\u2026 or its true purpose?<\/strong><\/em><\/a><\/p>\n