Eric Trump has denied claims that the Trump family was launching a new cryptocurrency called Truth Coin, calling the reports fraudulent.

The rumor followed a new WWW token and wallet activity on Robinhood Chain, which traders linked to the alleged Truth Coin launch. Such episodes are a recurring feature of the meme-coin market, where prices frequently move on unverified social media posts before any official confirmation exists.

Trump-linked tokens rose as the rumor spread, with TRUMP gaining 40% and MELANIA increasing 11%, according to the supplied data. Both tokens date to January 2025, when the TRUMP memecoin launched shortly before Donald Trump's presidential inauguration and MELANIA followed within days.

Rumor Spread Around a New WWW Token

The rumor gained ground after WhaleScan posted on X that Donald Trump was preparing another coin. The account claimed it would be first to report the launch, as with Trump's previous coin. Accounts that build followings by claiming early scoops on token launches are a common source of unverified crypto claims, and U.S. regulators, including the SEC, have repeatedly warned the public about social-media-driven token promotions and scams that invoke celebrity names.

Attention then shifted to a WWW token on Robinhood Chain, an ecosystem tied to the retail brokerage's expansion into crypto and tokenized assets. StarPlatinum_ linked the token to "Truth Coin" in a post shared on X. The reported token had a planned supply of 1 billion coins, with 500 million available at launch.

About 300 million tokens were planned for liquidity, while 200 million were reserved for project growth. The developer wallet later reportedly received 300 ETH, and the token's trading fee changed from 10% to 0.3%, according to the provided information. Heavy developer holdings and sudden fee changes are among the risk patterns analysts associate with low-float launches, where headline market values can overstate the liquidity actually available to traders.

Eric Trump Rejects the Token Claims

In a post on X on August 22, Eric Trump called the claim "absolutely not true." He said no one was launching any kind of coin and warned that claims to the contrary were fraudulent. The quick on-the-record rebuttal fits a broader pattern in crypto, where unauthorized or fake tokens have repeatedly surfaced around high-profile names and public figures have had to disown them.

His response followed reports that Trump-linked tokens gained as the rumor circulated. TRUMP rose 40%, while MELANIA gained 11% in one day, according to the provided market data. The WWW token also reportedly reached about $10.24 million in market value; however, the developer wallet was said to hold 99.9% of the supply, meaning only a sliver of tokens circulated outside it and the quoted valuation rested on a very thin float.

Trump Family's Existing Crypto Involvement

The rumor surfaced alongside the Trump family's cryptocurrency involvement. Eric Trump has been affiliated with World Liberty Financial, a decentralized finance project launched in 2024, and the family has also been linked to American Bitcoin, a Bitcoin mining venture associated with Eric Trump and Donald Trump Jr. TRUMP and MELANIA remain Trump-related meme coins. Neither World Liberty Financial nor American Bitcoin was implicated in the new token claim.

Trump Media & Technology Group, which owns Truth Social, has explored crypto and prediction market plans. However, the company now appears more focused on Bitcoin than on issuing a new token. The distinction is relevant to how such claims can be weighed: the family's disclosed crypto ventures carry named principals and public announcements, whereas the Truth Coin rumor rested on anonymous posts and unverified wallet activity rather than any verified channel.

Source: Crypto Front News