Donald Trump Jr. has shut down rumors that Truth Social, Trump Media & Technology Group’s social media platform, was planning to launch a meme coin.
He stated in a May 13 post on X that Truth Social has no plans to launch a meme coin and warned people not to believe misleading claims being spread online.
Additionally, World Liberty Financial (WLFI), a separate Trump-linked crypto group, responded to the meme coin rumors. It warned users to be careful of fake projects using the Trump name. WLFI said in a post on X, “WLFI is the only DeFi project backed by the Trumps”.
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Trump Jr.’s statement followed a claim by crypto trader Ran Neuner, who said that Truth Social would roll out its own meme coin within 72 hours.
However, while the company denies any involvement with meme coins, Trump Media & Technology Group revealed it was looking into launching a utility token along with a digital wallet. These would be part of a planned rewards program for Truth+, the platform’s upcoming video streaming service.
According to CEO Devin Nunes, users might eventually be able to pay for Truth+ subscriptions using the token. He also noted that the token could become useful across other Trump Media products in the future.
Meanwhile, Eric Frederick Trump, the second son of President Donald Trump, recently suggested that banks ignoring cryptocurrencies risk being left behind. Why? Read the full story.
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