Eric Trump denies rumors of new Trump family cryptocurrency launch

Eric Trump has publicly denied rumors that the Trump family is launching a new cryptocurrency, labeling the claims as “fraud.” The speculation was triggered by an X post from the account “WhaleScan,” which asserted that Donald Trump was officially preparing to launch a new digital coin.

The rumors gained traction following the appearance of an unidentified token known as “WWW” or “Truth Coin” on the Robinhood Chain. While the mystery token saw a market capitalization of approximately $10.24 million, reports indicated that a developer wallet held 99.9% of the supply.

Despite the denial, the speculation caused significant price volatility for existing Trump-related meme coins. The TRUMP token saw price increases ranging from 38% to 40%, while the MELANIA token rose between 11% and 18% during the period of heightened rumors. Eric Trump warned investors that anyone suggesting a new launch is engaging in fraudulent activity.