Trump Jr. Debunks Truth Social Token Rumors, Calls It ‘Fake News’

TL;DRDonald Trump Jr. categorically denied the rumors about the launch of a new memecoin linked to Truth Social.He warned on X that there’s no new crypto project associated with Truth Social and urged people to ignore fake news.WLFI reaffirmed it’s the only DeFi initiative backed by the President’s family and cautioned against scams trying to exploit the Trump name.Truth Social, the social media platform tied to Donald Trump, has categorically denied widespread rumors about the launch of a new memecoin.The speculation started when TV host Ran Neuner posted on X that the platform would introduce a cryptocurrency within the next 72 hours. His message also hinted at a possible connection with the team behind the $TRUMP token, which quickly triggered reactions across the crypto community.Truth Social Will Not Launch Any MemecoinNeuner’s post caused a stir on social media. Users and analysts debated the possibility of Truth Social formally entering the memecoin market. Some influencers, like Wendy O, dismissed the idea as unnecessary and suggested focusing on $TRUMP, the already existing token tied to the former President.As the rumor spread, Donald Trump Jr. stepped in directly. Through his X account, he warned the community not to fall for false information. He made it clear that Truth Social has no plans to release any memecoin, and any claims suggesting otherwise are baseless.WLFI, the decentralized project backed by the President’s family, also addressed the situation. It reminded the public that it remains the only officially recognized DeFi initiative linked to President’s circle and warned about other tokens attempting to exploit the brand to deceive unsuspecting users. According to their statement, no other cryptocurrency claiming ties to the former President has authorization or legitimacy.$TRUMP Up 50% Over the Past MonthThe $TRUMP token remains active in the market following its launch on the Solana network in January. Despite suffering a sharp drop from its all-time high of $80, it has rebounded 17% in the past seven days. Over the last month, it recorded a nearly 50% increase, although its daily trading volume has fallen by 10% compared to previous days. Its current value stands at approximately $12.84 per token.