Truth Social Denies Meme Coin Plans as Trump Token Slips
Truth Social denied plans to launch a meme coin, countering speculation fueled by crypto trader Ran Neuner's claims of an imminent release. Donald Trump Jr. stated there is "no truth whatsoever" to the rumors. Despite this denial, a recent shareholder letter from Trump Media mentioned exploring a "utility token" for its upcoming Truth+ streaming service, which could be used for subscription payments and across other services. World Liberty Financial, a Trump-affiliated crypto venture, warned against fake projects and emphasized its legitimacy as the only DeFi project backed by the Trumps. The prices of existing meme coins linked to the Trumps, such as $TRUMP and $MELANIA, fell following the denial. Scrutiny of Trump's crypto ventures has increased, especially after announcing a private dinner for top TRUMP token holders, prompting calls for investigations into potential corruption.
