Caitlyn Jenner is facing renewed legal scrutiny over the collapse of her $JENNER meme coin, with investor Lee Greenfield accusing the reality star of helping orchestrate a crypto “pump and dump” that allegedly left buyers with major losses.
The proposed class action lawsuit, obtained by TMZ, alleges that Jenner and her late manager, Sophia Hutchins, aggressively promoted the token online while presenting it as a legitimate long-term crypto project. According to the filing, Jenner used social media posts, MAGA branding, and promises that the coin was headed “to the moon” to encourage fans and investors to buy in.
Plaintiff Lee Greenfield claims the value of the token tanked after Jenner quickly shifted focus to another cryptocurrency, $BBARK, only days after launching $JENNER. The lawsuit alleges the original coin lost roughly 75 percent of its value during the fallout. Greenfield says he lost more than $40,000 after investing in the project.
A federal judge dismissed Greenfield’s federal securities claim in April after ruling that the $JENNER token was not a security, though remaining state-law claims could still be pursued separately.
The filing also references crypto promoter Sahil Arora, who allegedly helped launch the coin before Jenner publicly accused him of scamming the operation and draining money tied to the project. Investors claim that Jenner continued to promote related versions of the token even after the controversy exploded online.
A pump-and-dump scheme typically involves insiders or promoters heavily hyping a low-value token online to drive up demand and inflate the price. Once enough outside investors buy in, organizers allegedly cash out their holdings, flooding the market and causing the coin’s value to crash.
Hutchins — who managed Jenner’s business affairs for years and appeared alongside her on I Am Cait — died in July 2025 after an ATV crash in Malibu. She was 29.
Months later, Jenner filed a claim against Hutchins’ estate seeking repayment for more than $439,000 in expenses she claimed were never reimbursed, including credit card charges, legal fees, and cash advances. The claim was later settled earlier this year.
Jenner has also remained in the spotlight politically. Earlier this year, she called herself a “hypocrite” for accepting Glamour’s Woman of the Year award in 2015 while now campaigning against transgender women competing in women’s sports. Jenner later said she returned the award because her views had changed.
