QUICK TAKE:

• Caitlyn Jenner’s X account is promoting a new memecoin on Pump.fun.
• Videos featuring Jenner and her manager have sparked debate about their legitimacy.
• Social media users are questioning whether Jenner’s account has been hacked.

Caitlyn Jenner’s X (formerly Twitter) account has recently started promoting a new memecoin named after her, launched via the token launchpad Pump.fun. This development has ignited a flurry of activity and speculation on social media, with many users debating the authenticity of the promotion and whether Jenner’s account has been compromised.

The promotional activity began on Sunday afternoon when Jenner’s X account tweeted a link to the memecoin with an enthusiastic caption: “Let’s all win together!! Send me some of your favorite memecoins here.” This tweet was followed by a series of others, insisting that the account had not been hacked, despite widespread skepticism.

To further validate the promotion, Jenner’s account participated in a Twitter Space session. In this session, another account, purportedly belonging to Jenner’s manager, joined to field questions. “I am out golfing,” the account wrote in an attempt to assure followers of the account’s authenticity. A follow-up video, purportedly featuring Jenner, stated, “A lot’s been going on today, and yes, the crypto is, my account is real.”

Despite these reassurances, many X users remained unconvinced. Some speculated that the video was a deepfake created using AI technology. Additional videos were posted, featuring voices alleged to be Jenner and her manager, Sophia Hutchinson, reiterating that the account was not hacked and that the promotional tweets were genuine.

Adding to the confusion, American rapper Rich the Kid’s X account also posted similar tweets promoting a memecoin earlier on Sunday, which have since been deleted. This led some users to believe there might be a coordinated effort behind these promotions. “The Jenner and Rich the Kid tokens are connected and both nuked by the same wallet Jenner just asked donations on,” tweeted user @CodeXBT. “With everyone getting hacked left and right, I wouldn’t trust tweets today.”

To gauge public sentiment, Polymarket, a prediction platform, created a bet on whether Jenner’s account had been hacked. Interestingly, only 7% of users believed that Caitlyn Jenner’s X account had been compromised.

As the debate raged on X, Jenner’s Instagram account also started promoting the memecoin link on Pump.fun, aligning with the tweets from her X account. This cross-platform promotion added another layer of complexity to the situation.

The first promotional tweet from Jenner’s X account was accompanied by a photo of Jenner with former U.S. President and Republican candidate Donald Trump. Trump has recently declared strong support for cryptocurrencies as part of his campaign, and Jenner has publicly supported Trump and the Republican Party. This association lent some credibility to the tweets, though it did little to quell the skepticism.

Currently, the Jenner memecoin boasts a market cap of around $30 million, according to DEX Screener. However, the ongoing controversy surrounding its promotion has left many potential investors wary.

Despite numerous attempts to clarify the situation, both Jenner and her spokesperson have not immediately responded to requests for comments from The Block. This silence has only fueled further speculation and concern among the crypto community.

This story is still developing, and more information will be provided as it becomes available. The crypto community remains on high alert, watching closely for any new developments in this intriguing case of social media promotion and potential security breach.