Trump Family Denies New Crypto Launch Amid Speculation and Price Movements

Eric Trump has denied rumors of a new cryptocurrency launch by the Trump family. In a tweet, he called claims of a new coin 'absolutely not true' and labeled them as fraud.

The rumors emerged on X after two posts claimed that Donald Trump was about to launch a new coin, with one post even citing a Robinhood Chain wallet receiving 290 ETH linked to the 'Truth Coin'. However, neither post contained any official announcement or contract address.

The existing Trump-linked tokens, TRUMP and MELANIA, saw significant price movements during the rumor's circulation. TRUMP traded at $2.47, up 37.9% over 24 hours, while MELANIA gained 18.4% to reach $0.1112.

Eric Trump's denial has brought an end to the speculation, but it remains to be seen how long the price movements will last. As with previous meme coin launches, the Trump family's existing crypto footprint and token prices have created a sense of expectation among investors.