Did Caitlyn Jenner launch a fundraiser for a legal defense fund? Networth and Jenner Meme coin controversy explored amid outrage

Reality TV star and former Olympian Caitlyn Jenner is calling on her supporters to donate funds to support her legal defense against a lawsuit brought against her for alleged financial malfeasance.

A group of memecoin purchasers has reportedly accused Jenner of selling a celeb token as an unregistered security. Naeem Azad, a citizen of the UK, and Mihai Caluseru, a Romanian citizen, filed the complaint in a California federal court on November 13, alleging that Jenner and her manager, Sophia Hutchins,

“fraudulently solicited financially unsophisticated investors throughout the United States and abroad to purchase the unregistered securities.”

Everything we know about Caitlyn Jenner's legal woes:

According to CoinTelegraph, Azad and Caluseru contend that they lost over $56,000 by purchasing JENNER on Ethereum and Solana, noting that they wouldn’t have “had it not been for the false and misleading statements and omissions made by Jenner," who, according to Celebrity Net Worth, has a net worth of $25 million.

The suit also claims that Caitlyn Jenner “willfully failed” to register the token with the Securities and Exchange Commission, causing buyers to suffer "significant damages." They claim that buyers didn’t have adequate information to assess the risk that came with investing, which they say would have been available had JENNER been registered.

The memecoin was first launched on Solana through Pump.fun in May, though it quickly copped flak when prolific figures began claiming they had been "scammed." Caitlyn Jenner then launched her token on Ethereum.

The former television personality took to X on April 23 to appeal to the public. In her tweet, she admitted that she has been "named a defendant in a lawsuit re: the $Jenner memecoins, alleging ‘securities’ violations." Referring to the lawsuit as "meritless," she claimed it has "broad implications for the crypto community at large."

"Let’s all be freedom maximalists," she noted.

In a follow-up tweet, Caitlyn Jenner asked her followers:

"If you can help it all goes to the legal defense fund to fight fight fight I need your support." In another, she went on, "The case is the tip of the spear, and I am vigorously defending myself." She added, "Unfortunately, fighting against such claims is very expensive and time consuming. Given the larger implications of the case, I have set up a legal defense fund and I ask that the community please support us. Lawsuits like this are not the way to grow crypto."

She concluded her statement:

"I remain excited about crypto and digital assets moving forward. I have been pleased with the progress at the SEC. But progress at the SEC is not enough. Private plaintiffs are now trying to put a square peg in a round hole by attempting to fit federal and state securities laws onto digital assets such as memecoins. This is the type of red tape that I believe will serve to stifle, not promote, growth in cryptocurrency and digital assets. This is not what the crypto community is about."

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At the time of writing, about $12 has been raised for Caitlyn Jenner's fundraising campaign.

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