🚨 U.S. Court Drops Lawsuit Against Caitlyn Jenner for Memecoin Losses — Here’s Why 💥
A U.S. judge in California has dismissed a group lawsuit against Caitlyn Jenner and her business partner, Sophia Hutchins, over losses linked to the $JENNER memecoin. Here’s the story in plain terms: 🌟
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### 🔍 What Happened? 🕵️♂️
- 👤 Who Sued? A UK investor, Lee Greenfield, claimed he lost $40,000+ 💸 after buying the JENNER memecoin between May and July 2024. He accused Jenner’s team of breaking financial rules.
- ⚖️ Court Decision: The judge said Greenfield didn’t show enough proof that U.S. laws applied to the token sales. He has until May 23 📅 to try again with more evidence.
- 🎢 Token Drama: Jenner’s team first launched JENNER on Solana 🟣, then released a second JENNER token on Ethereum 🔷* days later. This caused the Solana version’s price to crash 📉. They also pushed a dog-themed token called $BBARK 🐶.
- 💰 How They Made Money: The team reportedly took a 3% cut 💵 from every Ethereum JENNER trade.
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### ⚠️ Why It’s Important
- 🌫️ Rules Are Fuzzy: The case shows how hard it is to apply old financial laws to new, joke-style cryptos like memecoins.
- 🎤 Celebrity Warnings: Jenner was already linked to a crypto scandal involving promoter Sahil Arora. This reminds us how risky 🎲 celeb-backed crypto projects can be.
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### 💬 What People Are Saying 🗣️
Some folks online are glad 🎉 the case was dropped, calling it a win against “fake lawsuits.” Others worry influencers won’t be held responsible for hyping risky coins 🔥.
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### 🚨 Bottom Line: Memecoins are super risky! Always DYOR 🔍 (Do Your Own Research) before investing, especially if a celebrity’s name is attached.
👇 What do you think? 🤔 Are memecoins fun 🎉 or a trap 🕳️?