President Donald Trump’s son Eric Trump has rejected viral claims that the Trump family is preparing to launch a new cryptocurrency called “Truth Coin.” The rumor spread after traders spotted a new token and unusual wallet activity on Robinhood Chain.
Meanwhile, the rumour pushed Trump-linked tokens like TRUMP and MELANIA to surge over 40%.
The rumor quickly spread on X after a post from WhaleScan said Trump is “officially” about to launch a new coin. Further, the account said that WhaleScan would be the first to report it, as it did with Trump’s last coin.
The claims gained more attention after a mysterious WWW token, also known as “Truth Coin,” appeared on the Robinhood Chain. The alleged token was said to have a 1 billion supply, with 500 million tokens available at launch.
Around 300 million tokens were planned for liquidity, while another 200 million were set aside for the project’s growth.
Later on, a developer wallet reportedly received 300 ETH, while the token’s trading fee changed from 10% to 0.3%.
The WWW token quickly reached a market value of about $10.24 million, while the developer wallet reportedly held 99.9% of the supply.
Responding to ongoing rumours about Trump’s newly launched token, Eric Trump quickly denies rumours of a new family crypto token and calls the reports completely fraudulent.
“What a joke… This is absolutely not true. No one is launching any kind of coin. If anyone is suggesting otherwise, it’s a fraud.”
Before Eric’s warning comes, the rumor has pushed Trump-themed memecoins higher. TRUMP rose 40%, while MELANIA gained 11% in a single day as traders rushed to buy tokens linked to the Trump family.
The rumor gained attention because Trump Media & Technology Group, the owner of Truth Social, had earlier explored crypto and prediction market plans.
However, the company now appears to be focusing more on Bitcoin than launching new tokens.
Community members have warned traders to be careful with copycat tokens, especially without an official confirmation from the Trump family.
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