Caitlyn Jenner (ETH) (JENNER)

U.S. Court Rules #Jenner Memecoin Is Not a Security.

A federal court recently ruled in favor of US media personality and former Olympian Caitlyn Jenner in a case involving her memecoin project.

Judge Stanley Blumenfeld Jr. ruled on April 16 that, under the relevant legal definition, the JENNER token cannot be treated as a security. He explained that the plaintiffs failed to establish the existence of an investment contract.

Specifically, the ruling hinged on two main findings: that investor funds were not pooled and that the token was not tied to any underlying product or technological development. Instead, court filings characterized it as an entertainment-driven memecoin, with value largely derived from Jenner’s public persona.

The case originated in November 2024, when investors filed a class-action lawsuit over losses following a price decline. Although the complaint was amended after an initial dismissal in May 2025, the court ultimately upheld its position.

🚨TODAY: A U.S. judge just dismissed the lawsuit against $JENNER.

The claim:

→ investors lost money (~$40K+)
→ said it was an unregistered security

The court said: Not a security.

Why? It failed the Howey Test.

Key reason: No “common enterprise.”

In simple terms:

→ investors weren’t pooling money together.
→ no shared profits structure.

Even though Caitlyn Jenner promoted it heavily…

The judge focused on structure, not marketing!

So things like celebrity promotion, AI images, social media buzz... Don’t automatically make a token a security.

Most memecoins:

→ run on hype
→ no revenue model
→ no profit-sharing system

That makes them harder to classify as securities.

But it’s not a full win... Federal case dismissed.

Other claims can still continue at state level.

What this means for crypto:

Courts are starting to say, not every token means security... Especially memecoins!

Legal clarity is improving… but still messy.

In short, hype can pump a token... but it doesn’t automatically make it illegal.