Quick Summary
- Eric Trump publicly rejected claims of a new Trump family cryptocurrency, stating they were fraudulent
- Speculation began with an X post from @WhaleScan alleging Donald Trump would launch a new digital coin
- Another post suggested a Robinhood Chain wallet holding 290 ETH was connected to a project called “Truth Coin”
- TRUMP token climbed 38% while MELANIA rose 18.4% during the 24-hour period as speculation spread
- Both posts lacked official verification, token symbols, or verifiable contract addresses
Eric Trump took to X on August 22 to publicly dismiss speculation surrounding a potential Trump family cryptocurrency launch. His statement was unambiguous: “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.”
His dismissal targeted claims made by @WhaleScan, who posted: “DONALD TRUMP IS OFFICIALLY ABOUT TO LAUNCH HIS NEW COIN.” The message provided zero supporting evidence, including no official statement, token identifier, or smart contract details.
Another post emerged at 3:03 p.m. ET alleging a newly created Robinhood Chain wallet had acquired 290 ETH while engaging with contracts tagged “WWW / ‘Truth Coin’.” This claim similarly lacked wallet addresses or ownership verification.
Eric Trump’s statement made no reference to specific details from either post. Instead, he categorically denied the underlying assertion.
Why the Speculation Gained Momentum
The rumors found an audience because the Trump family maintains genuine cryptocurrency involvement. Eric Trump has publicly supported World Liberty Financial, a DeFi initiative that went live in 2024. The family also maintains ties to American Bitcoin, another crypto-related enterprise.
Past meme coin releases added credibility to the speculation. TRUMP and MELANIA tokens already trade as Trump-branded digital assets. These prior launches established a pattern that made additional token releases seem plausible to market participants.
This existing context gave the @WhaleScan claims an air of legitimacy among investors actively monitoring Trump-related cryptocurrency developments.
Significant Price Movement Across Trump Tokens
As rumors circulated, both established Trump-affiliated tokens experienced notable price action. TRUMP reached $2.47, marking a 37.9% increase over the preceding 24 hours, with trading between $1.79 and $3.60, per CoinGecko data. MELANIA hit $0.1112, representing an 18.4% gain, with prices fluctuating between $0.09085 and $0.1614.
Both assets traded below their intraday peaks when the data was recorded. CoinGecko’s figures documented substantial price swings without attributing them to any single catalyst.
The trading activity demonstrated how rapidly unsubstantiated claims can influence token valuations, even absent any legitimate announcement.
Eric Trump’s rejection remained the sole official response from anyone associated with Trump-linked cryptocurrency initiatives. Neither Robinhood nor any identified token project issued a statement.
This incident reflects a recurring theme. Speculation about Trump family crypto ventures has emerged and been debunked previously, yet successive waves of rumors consistently attract attention.
The post Eric Trump Refutes Fake Crypto Launch Claims as TRUMP and MELANIA Tokens Rally appeared first on Blockonomi.
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