Truth Social Denies Memecoin Launch Amidst Crypto Rumors
The social media platform owned by the Trump Media & Technology Group, Truth Social, has vehemently denied recent rumors circulating on social media about the launch of a Truth Social memecoin.
The denial came from the official Truth Social account itself, which stated, “Contrary to rumors, Truth Social is not launching a memecoin.” This followed a similar statement by Donald Trump Jr., who asserted on X, “There’s no truth whatsoever about Truth Social launching a memecoin. Don’t be fooled by false information people are circulating.”
These denials stem from a tweet by influencer Ran Neuner, host of the Crypto Banter podcast. Neuner claimed that a Truth Social token would launch within 72 hours, hinting at a potential connection to the team behind the TRUMP token.
While Neuner’s claim lacked concrete evidence, it sparked speculation within the crypto community, particularly given the Trump family’s history with cryptocurrency ventures.
The Trump Family’s Crypto Journey
Both Donald Trump and Melania Trump have delved into the world of cryptocurrencies, launching their own tokens, the TRUMP token and the MELANIA token, respectively. However, these ventures have not been without controversy.
Donald Trump‘s TRUMP token faced particular scrutiny following his announcement that top tokenholders would be invited to a special gala dinner. The move drew criticism from US senators, many of whom had previously called for Trump‘s impeachment over the launch of the TRUMP token.
Furthermore, a Bloomberg report raised concerns from US lawmakers after indicating that a significant portion of the TRUMP token‘s top holders might not be from the US. This revelation fueled questions regarding the transparency and potential implications of Trump‘s crypto endeavors.
Despite the denials, the recent rumors about a Truth Social memecoin highlight the ongoing interest in the Trump family’s involvement with cryptocurrency. Whether Truth Social will ultimately embrace crypto remains to be seen, but the platform’s past ventures suggest a continued exploration of the evolving crypto landscape.
