Trump Family Denies Launch of New Cryptocurrency 'Truth Coin'
The rumor of a new Trump family cryptocurrency token, dubbed 'Truth Coin,' spread rapidly on social media platforms after a post from WhaleScan claimed that Donald Trump was about to launch the coin. The alleged token, named WWW, appeared on the Robinhood Chain with a supply of 1 billion tokens, 500 million available at launch, and trading fees changing from 10% to 0.3%. The rumor caused a surge in prices for Trump-linked tokens TRUMP and MELANIA, rising 40% and 11%, respectively.
However, Eric Trump swiftly denied the rumors as 'fraud,' stating that no one is launching any kind of coin and calling the reports completely untrue. This denial came after traders rushed to buy tokens linked to the Trump family due to earlier explorations by Trump Media & Technology Group into crypto and prediction market plans.
WhaleScan's initial post claimed they would be the first to report on the new coin, as they did with Trump's last coin. However, experts have warned traders to be cautious of copycat tokens without official confirmation from the Trump family.