Trump-Linked WLFI Denies Claims of New Trump Meme Coin

Key Insights:

• Trump-linked World Liberty Financial (WLFI) warns against fake Trump meme coin projects.
• Donald Trump Jr. and Truth Social deny rumors about launching a meme coin.
• Confusion follows after influencer claimed a Truth Social token was coming.

World Liberty Financial (WLFI), the Trump family-backed DeFi project, has issued a warning about fraudulent crypto projects. Some projects are falsely claiming association with President Donald Trump.

In a statement posted on X, WLFI emphasized that it is “the only DeFi project backed by the Trumps” and cautioned that “anyone else pushing fake tokens is just a scammer trying to take advantage of people who don’t know better.”

This clarification comes amid rumors about a potential Truth Social meme coin launch. This has been explicitly denied by both Donald Trump Jr. and the official Truth Social account. The denials follow claims by crypto influencer Ran Neuner that a Truth Social token would be launched within 72 hours.

Trump family and Truth Social deny Trump meme coin rumors

Multiple members of the Trump family and Trump-affiliated organizations have denied rumors of a new Trump meme coin launch. The statements come in response to speculation that Truth Social. The social media platform owned by Trump Media & Technology Group, was preparing to release a cryptocurrency .

“There’s no truth whatsoever about Truth Social launching a meme coin. Don’t be fooled by false information people are circulating,” wrote Donald Trump Jr. on his X account. This direct statement from the former president’s eldest son leaves no ambiguity about the rumors’ validity.

The official Truth Social account reinforced this message with its own statement:

“Contrary to rumors, Truth Social is not launching a meme coin.”

The platform, majority-owned by former President Donald Trump through Trump Media & Technology Group, has not announced any plans to enter the cryptocurrency space.

These denials were prompted by claims from cryptocurrency influencer Ran Neuner, host of the Crypto Banter podcast. Neuner had posted on X that a Truth Social token would be launched “within the next 72 hours.” He suggested it was being developed by a team similar to those behind the existing Trump meme coin.

World Liberty Financial (WLFI), rightfully supported by the Trump family, made the effort to set the record straight: “Don’t be fooled. There is no new Trump crypto project. WLFI is the only DeFi project backed by the Trumps.” This announcement makes WLFI the sole Trump-supported cryptocurrency project and proves that other tokens claiming the same are scams trying to dupe investors.

Current Trump tokens come under scrutiny during controversy

While fresh rumors of Trump meme coin have been refuted, other cryptocurrency projects connected to the ex-president continue to be in the spotlight. The TRUMP token, developed in official capacity by the ex-president, has been unstable and currently trades approximately 80% lower than its all-time high of $73.43. This was accomplished on January 19.

The token recently generated controversy when President Trump announced that top tokenholders would receive invitations to a special gala dinner on May 22. This announcement drew criticism from several US senators, some of whom had previously called for Trump’s impeachment over the token launch.

Joining the concerns was a Bloomberg report that raised doubts about the geographic concentration of large TRUMP token holders. The most recent data show that 220 wallets hold more than 13.7 million TRUMP tokens with an approximate value of $174 million.

While their names are not known, at least some of them appear to be referencing well-known Trump supporters like Tron founder Justin Sun and Tesla CEO Elon Musk, with wallet names “Sun” and “elon.”

Furthermore, First Lady Melania Trump also launched her own token, which is called MELANIA. This has spawned an ever-growing universe of Trump-family-related cryptocurrencies. This proliferation of Trump-related tokens takes place against the backdrop of the former president’s publicly pro-crypto stance.