Editing Celebrity memecoins

**Celebrity memecoins** are tokens launched or promoted by entertainers, influencers, athletes or politicians, trading on the celebrity's audience rather than on any product.[^1] Most launched on [[Solana]] in 2024 and lost nearly all their value.[^2]

## History
Before the memecoin wave, the SEC charged Kim Kardashian on 3 October 2022 over an undisclosed $250,000 paid post for EMAX tokens; she paid about $1.26 million.[^3] See [[KOL]].

In May 2024 Caitlyn Jenner launched a token on [[pump.fun]] with promoter [[Sahil Arora]], who later worked with Jason Derulo (JASON), Rich the Kid and Lil Pump; [[Bubblemaps]] said Arora made $30 million representing celebrities who launched coins that year.[^1] Cointelegraph, citing analyst Slorg, reported that more than 30 celebrity tokens launched on Solana in June 2024 had all fallen at least 73.23%, half by more than 99%; 50 Cent's hacked X account was used to promote one, GUNIT.[^2] [[Iggy Azalea]]'s [[Mother Iggy]] (MOTHER) was the noted exception, after she criticised Arora in a Twitter Space.[^1]

[[Hawk Tuah]] (HAWK), tied to [[Haliey Welch]], reached a $490 million market cap in December 2024 and fell 93% within minutes.[^4] In January 2025 Donald and Melania Trump launched [[Official Trump]] and [[Melania Meme]].[^5] In August 2025 Bubblemaps said the first buyer of Kanye West's [[YZY]] token was Naseem, a trader it had linked to about $100 million of TRUMP profits.[^6]

## Criticism
Bubblemaps' Nick Vaiman told Decrypt that celebrity projects "have only extracted liquidity from retail".[^1] Insider allocation was common: Bubblemaps reported 60% of the Cardi B-themed WAP bundled at launch and about 20% of MOTHER sniped.[^1] Celebrities have also blamed promoters: Jenner said Arora "SCAMMED us", and Derulo said he was duped; Arora called the Derulo dispute "orchestrated".[^1] See [[Bundling]] and [[Sniping]].

## Regulation
In November 2024 investors filed a class action, *Azad et al v. Jenner et al*, alleging Jenner and manager Sophia Hutchins misrepresented her Solana token and failed to register it as a security.[^1] A civil suit over HAWK targets launchpad overHERE, its founder Clinton So, influencer Alex Larson Schultz and the Tuah the Moon Foundation, but not Welch; her lawyer said in March 2025 that the SEC closed its probe of her without findings or sanctions.[^4] The SEC staff said on 27 February 2025 that meme coins of the type it described are not securities, though fraud may still be pursued by other agencies.[^7] See also [[PolitiFi]].

## Timeline
- 2022-10-03: SEC charges Kim Kardashian over EMAX promotion[^3]
- 2024-05: Caitlyn Jenner launches a token on pump.fun[^1]
- 2024-11: class action filed against Jenner[^1]
- 2025-01-17: TRUMP launches[^5]
- 2025-02-27: SEC staff statement on meme coins[^7]

## See also
- [[Broccoli]]
- [[Daddy Tate]]
- [[Jailstool]]
- [[Kekius Maximus]]
- [[Vine]]
- [[Luce]]
- [[Libra]]

## References
1. [SCENE's 2024 Story of the Year: The Boom—and Bust—of Celebrity Meme Coins](https://decrypt.co/298703/scene-2024-story-of-the-year-celebrity-meme-coins), Decrypt, 2024-12-26
2. [The rise and fall of celeb tokens: Over 99% of value wiped out](https://cointelegraph.com/news/celeb-tokens-solana-crash), Cointelegraph, 2024-07-25
3. [SEC Charges Kim Kardashian for Unlawfully Touting Crypto Security](https://www.sec.gov/newsroom/press-releases/2022-183), US SEC, 2022-10-03
4. [Hawk Tuah Girl Says SEC Dropping Probe Into Solana Meme Coin: TMZ](https://decrypt.co/312190/hawk-tuah-girl-sec-dropping-probe-into-meme-coin-tmz), Decrypt, 2025-03-28
5. [Donald and Melania Trump launch a pair of meme coins ahead of inauguration, raising serious ethics concerns](https://www.ctvnews.ca/business/article/donald-and-melania-trump-launch-a-pair-of-meme-coins-ahead-of-inauguration-raising-serious-ethics-concerns/), CTV News (CNN), 2025-01-20
6. [First buyer of Kanye West crypto token YZY previously made $100 million trading TRUMP: Bubblemaps](https://www.theblock.co/post/367875/first-buyer-of-kanye-west-crypto-token-yzy-previously-made-100-million-trading-trump-bubblemaps), The Block, 2025-08
7. [Staff Statement on Meme Coins](https://www.sec.gov/newsroom/speeches-statements/staff-statement-meme-coins), US SEC Division of Corporation Finance, 2025-02-27