Eric Trump has rejected viral claims that the Trump family is preparing to launch a new cryptocurrency called “Truth Coin.” The rumors began circulating after traders observed a new token and unusual wallet activity on the Robinhood Chain.
The speculation initially spread on the social media platform X following a post from an account named WhaleScan, which claimed that Donald Trump was officially about to launch a new coin. The claims gained further traction after a mysterious token known as “Truth Coin” (WWW) appeared on the Robinhood Chain, featuring a reported supply of 1 billion tokens.
According to reports, the token's market value reached approximately $10.24 million, and a developer wallet reportedly held 99.9% of the supply after receiving 300 ETH, while trading fees were adjusted.
Responding to the ongoing reports, Eric Trump dismissed the rumors entirely, stating on X: “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 the denial was issued, the rumors caused existing Trump-themed memecoins to surge. The TRUMP token rose over 40%, while MELANIA gained 11% in a single day as traders reacted to the speculation.
The rumors gained initial traction because Trump Media & Technology Group, the owner of Truth Social, had previously explored crypto and prediction market plans. However, community members have warned traders to exercise caution regarding copycat tokens lacking official confirmation from the Trump family.
