Truth Social denies memecoin rumours
Trump-owned Truth Social has denied rumours that it plans to launch a memecoin, despite speculation spreading across social media earlier this week.
Truth Social, the social platform owned by Trump Media, has denied rumours that it plans to launch a memecoin. The speculation began after crypto influencer Ran Neuner tweeted that a token linked to the platform could be unveiled within 72 hours.
In a public post, Truth Social stated it had no involvement in any memecoin launch. Donald Trump Jr. echoed the denial, warning users not to be misled by circulating misinformation.
The original rumour suggested the project may involve individuals connected to the TRUMP token, but no evidence has surfaced.
Donald Trump is already linked to cryptocurrency through his own TRUMP token. The TRUMP token’s top holders have sparked concern among lawmakers, with many wallets potentially based outside the US.
Its value has dropped more than 80% from its peak but showed a small rebound recently.
The controversy intensified after Trump announced a gala dinner for major TRUMP token holders, attracting backlash from some US senators. Critics argue that foreign involvement and political fundraising through crypto could raise serious legal and ethical questions.
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