Eric Trump has denied rumors that President Donald Trump is preparing to launch a new cryptocurrency, calling the claims fraudulent in a social media post on X that drew 2.1 million views. He stated that the report was completely untrue and that anyone suggesting otherwise was engaging in fraud.
The denial addresses claims of a new token, while three existing Trump-linked digital assets continue to trade significantly below their all-time highs. The Official Trump (TRUMP) token launched on the Solana blockchain on January 17, 2025, reaching $73.43 within two days before losing most of its value. After hitting a record low of $1.37 on August 13, it rebounded roughly 88% alongside a broader market rally.
The Melania Meme (MELANIA) token, which launched two days after TRUMP, trades at approximately $0.086—about 99% below its peak—with a market value of $86 million. Additionally, the Trump-backed World Liberty Financial (WLFI) governance token, which began trading in September 2025 and briefly touched $0.33, trades near $0.06, down roughly 78%.
The market declines have resulted in substantial losses for retail participants. Data from blockchain analytics firm Nansen previously tracked about 1.48 million wallets that purchased TRUMP, finding that 988,905 were underwater with $3.81 billion in combined losses. Among wallets still holding meaningful amounts of TRUMP, Nansen data consistently shows that 85% to over 95% of held positions remain at a loss, largely clustered near a 97% unrealized return on investment.
Conversely, financial disclosures indicate substantial income for the President, who reported more than $1.4 billion in crypto income for 2025. This figure included over $500 million from WLFI sales and more than $600 million through CIC Digital.
These crypto associations have drawn scrutiny from lawmakers and the public. Senate Democrats, including Elizabeth Warren and Richard Blumenthal, have pushed for investigations into potential national security risks stemming from the crypto ties. Meanwhile, a Reuters/Ipsos poll indicated that 63% of Americans view the profits as inappropriate, and 69% believe business interests shape presidential decisions.
Senators are facing a procedural vote on the CLARITY Act scheduled for September 15. A draft provision in the legislation would bar sitting officials from issuing digital assets, which would transform Eric Trump's current denial into a legal requirement.
