Eric Trump Dismisses Claims of a Trump-Related Coin Launch
Eric Trump, son of Donald Trump, former President of the United States, dismissed claims of a new cryptocurrency linked to the Trump brand being launched. He referred to these claims as fraudulent in a recent statement. The allegations emerged amidst double-digit gains observed on the TRUMP and MELANIA crypto coins within a span of just 24 hours.
“An Absolute Joke”: Eric Trump
Responding to the circulating speculation, Eric Trump took to his X account and shot down rumors stating that no one intends to launch any such cryptocurrency. Eric Trump’s firm denial aimed to quell the circulating rumors that had been spurred by a couple of social media posts.
“What a joke. This is absolutely not true,” Eric Trump stated in his message, thoroughly denying the inaccuracies. “No one is launching any kind of coin. If anyone is suggesting otherwise, it’s a fraud,” he added vehemently.
The Spark that lit the Speculation
The original source of these speculative claims was a post from Whale Scan, made at 2:39 p.m. ET, stating “DONALD TRUMP IS OFFICIALLY ABOUT TO LAUNCH HIS NEW COIN”. However, the message lacked substantial proof such as an official announcement, ticker, or contract address for the alleged new cryptocurrency, raising eyebrows on its authenticity.
In an echo of earlier statements, a post from another X user at 3:03 p.m. ET made dubious claims about a new Robinhood Chain wallet receiving 290 ETH and interacting with Truth Coin contracts. As with the earlier message, these claims lacked essential details such as the wallet’s address or control of the wallet.
These posts became the foundation for the mushrooming claim of an imminent Trump coin launch and unexplained contract activity on the Robinhood Chain. Both posts failed to present an official announcement from Donald Trump, Robinhood, or any known token issuer.
Market Response and Current State
While the discussions around the launch of this coin were rife, there were observable market movements. The TRUMP token listed on CoinGecko was seen to be trading at $2.47, representing a 37.9% surge over 24 hours. Its trading range fluctuated between $1.79 and $3.60.
Similarly, the MELANIA token also posted gains and was listed at $0.1112, reflecting an 18.4% increase. Its trading range spanned from $0.09085 to $0.1614 over the same period.
However, at the time of this report, both tokens were trading below their 24-hour highs. While the market presented the magnitude of these sudden price movements amidst the circulated launch claims, it could not directly point out the cause behind them.
A Final Word from Eric Trump
With the disquiet created by the speculation over the rumored coin launch, Eric Trump’s clear-cut dismissal came as the staunch and final word. He reasserted categorically, “No one is launching any type of coin”. With this conclusive statement from Eric Trump, the chance of seeing a Trump-endorsed or related cryptocurrency seems unlikely for now.
