Caitlyn Jenner Struggles with Crypto Fraud Claims 🌐 💰
Crypto Fraud Allegations Against Caitlyn Jenner Dismissed by California Court Due to Absence of U.S. Transactions
In a surprising turn of events, the California federal court has tossed a lawsuit against Caitlyn Jenner and her business partner, Sophia Hutchins, over allegations of crypto fraud. Judge Stanley Blumenfeld Jr., presiding over the case, ruled that the lead plaintiff, Lee Greenfield, cannot use US courts to recover his losses, as he failed to prove proper jurisdiction for his transactions.
Greenfield, a British investor, claimed he lost over $40,000 by ditching Jenner's meme coin at a loss. The suit was filed between May and July 2024, when the tokens were available. Judge Blumenfeld indicated that the lawsuit lacks sufficient details about Greenfield's transactions, disallowing a reasonable inference of US securities law responsibility on Jenner's part.
The lawsuit was jam-packed with nine legal arguments targeting Jenner and Hutchins. While 7 directly targeted Jenner, including federal securities violations, California state securities laws breaches, fraud, and contract disputes, the other two were filed against Hutchins for controlling-person liability and aiding fraud.
The Token Saga 💸 📈
Greenfield alleged that Jenner and Hutchins misled investors by introducing the $JENNER token on the Solana blockchain, followed by an identical coin on Ethereum two days later. This alleged move led to the original token's value plummeting.
Between token launches, Greenfield claimed Jenner advertised another token named after their dogs ($BBARK), despite assurances that she was focusing solely on her namesake tokens. Greenfield's complaint also alleged that Jenner earned profits through a 3% transaction fee on the Ethereum version of the JENNER token.
Despite the dismissal of the current lawsuit, Judge Blumenfeld has granted Greenfield time until May 23 to file a revised complaint that more convincingly demonstrates his transactions fit under US legal protection. Jenner and Hutchinson have until June 6 to respond to any amended filings.
Jack Fitzgerald of Fitzgerald Monroe Flynn PC, the class group's lawyer, informed Cointelegraph that they are delighted the Court acknowledged the potential for strengthening the case and plan to expand upon the lawsuit.
To secure a victory in court, the plaintiffs must deliver a an essentially bulletproof case. Judge Blumenfeld dismissed all nine claims made by the class in their February amended complaint, which included claims of misleading statements, unregistered securities, and various types of fraud.
According to CoinGecko, the JENNER token's market value has crashed since its launch from nearly $7.5 million to around $58,775. The token witnessed just $61.10 worth of trading volume over the last 24 hours [1][2][3][4].
Sources:1. Cointelegraph (2025). Court dismisses class action lawsuit against Caitlyn Jenner over meme coin fraud allegations2. Bloomberg (2024). Jenner's Meme Coin Saga: A Short-Lived Partnership and a Long-Lingering Lawsuit3. Decrypt (2024). Caitlyn Jenner's Meme Crypto Project Is Facing a Lawsuit Over Alleged Securities Violations4. CoinMarketCap (2025). $JENNER Token Price History and Market Prediction
- The JENNER token, launched on the Solana blockchain, and its Ethereum counterpart, which was introduced two days later, have been a subject of controversy amid allegations of crypto fraud by Caitlyn Jenner and her business partner, Souphia Hutchins.
- Amidst the ongoing legal dispute, some celebrities' foray into cryptocurrency and the world of finance has caught the attention of the entertainment industry, raising questions about the role celebrities play in promoting new technologies like blockchain and digital assets.
- With the continuous advancements in technology, finance, and entertainment sectors, it remains to be seen how these intersecting communities will navigate through the complex legal landscape as more high-profile figures venture into the world of cryptocurrency.
