Eric Trump has shot down rumors that his family is about to release a new cryptocurrency, telling followers on X that the claims are baseless and that anyone pushing them is trying to run a scam.
In a post shared at 12:47 AM ET on August 23, the Executive Vice President of the Trump Organization wrote, “What a joke… This is absolutely not true. No one is launching any kind of coin. If anyone is suggesting otherwise, it’s a fraud.”
The statement was a direct reply to a viral tweet from @WhaleScan that had declared, “BREAKING: DONALD TRUMP IS OFFICIALLY ABOUT TO LAUNCH HIS NEW COIN,” boasting that the account would call the launch just as it did with $TRUMP and $MELANIA. After Eric Trump replied, the same account walked its claim back, telling its audience, “ERIC TRUMP JUST KILLED THE RUMORS. NO NEW TRUMP COIN IS BEING LAUNCHED. So forget everything circulating online.”
Rumor Mill Ignites Around Robinhood Chain
Eric Trump’s denial did not appear in a vacuum. Speculation had been building across crypto Twitter since August 21 that a Trump or Trump family token was preparing to debut on Robinhood Chain, the Arbitrum-based Layer 2 network Robinhood took live earlier this summer.
Trader Ely summed up the core claim, saying a Trump or Trump family launch on Robinhood Chain was “coming this weekend,” while noting that a sitting president cannot directly launch an official token but the family “has loopholes.”
A separate widely shared thread pushed a ticker of $TRUTH with a full mock tokenomics sheet, claiming the token would launch on the Robinhood Chain with a 1 billion total supply and an initial circulating supply of 500 million, with 300 million allocated to the liquidity pool and 200 million for ecosystem incentives. That sheet carried no verifiable source.
On-Chain Activity Fanned the Flames
On-chain sleuths flagged fresh developer activity on Robinhood Chain in the same window. A newly created wallet transferred in 300 ETH and created two $WWW tokens back-to-back, the first with a 10% tax fee and the second at 0.3%, with the full name listed as “Truth Coin.”
The metadata itself was inconsistent. On one side, the token was being referred to as Truth Coin or $WWW, while on the official explorer that same contract was labeled Stub Token with the ticker STUB. The mismatch could reflect stale metadata, an indexing bug, proxy contracts, or the entire Truth Coin narrative attaching itself to the wrong contract altogether.
Another account, @doomerfied, went further, claiming a “WLFI insider” had told him the family held preliminary talks about BARRON, DONJR, IVANKA, and KAI tokens targeted for October 2026. No official channel has confirmed those claims.
TRUMP Memecoin Pumps on the Speculation
The chatter had a real market effect. TRUMP ran from $1.41 to $3.60 on speculation that a new family token would revive attention on the ecosystem, with some trackers logging gains of up to 65% in a few hours before Eric Trump’s post reset expectations. The broader meme sector also rallied, with PEPE, BONK, and DOGE climbing 50 to 90% over the week.
The Trump Crypto Empire Behind the Rumors
The Trump family already runs one of the most extensive political crypto stables in the market, which is exactly why every fresh rumor gets traction. The Official Trump memecoin launched on Solana in January 2025 and is now down over 95% from its all-time high above $73, though it recently caught fresh attention around a top-holder gala hosted by the president. Melania Trump’s $MELANIA has followed the same path.
World Liberty Financial, co-founded by Donald Trump and his sons, went live with its WLFI token in September 2025 and is now locked in a legal battle with Tron founder Justin Sun in the Northern District of California over allegations that the platform froze $45 million of his tokens through smart contract backdoors.
Beyond memecoins, Trump Media and Technology Group has separately confirmed plans to distribute a digital token to DJT shareholders in 2026 in partnership with Crypto.com on the Cronos blockchain, giving speculators just enough real signal to fold into fake ones.
A Familiar Pattern of Fake Trump Coin Scams
This is not the first time an unverified Trump-linked token has moved markets. In August 2024, a token called Restore the Republic briefly pulled in more than $155 million within six hours of trading on Solana after rumors tied it to Eric Trump, spiking over 120% before collapsing more than 80% once he warned users about fake tokens.
Trump family X accounts have also been hijacked to promote fraudulent crypto in the past, giving scammers a well-worn playbook to exploit.
For investors, the takeaway is unchanged. Screenshots of test contracts, mock tokenomics sheets, and pseudonymous “insider” tips are not launches. Until a formal announcement comes from Donald Trump, Eric Trump, Trump Media and Technology Group, or World Liberty Financial through their verified channels, any post promising a new Trump coin should be treated as noise, or worse.
Also Read: Binance Account Rental Scam: How Fraudsters Lure Crypto Users with Promises of Easy Money
