Overview
- The rumor began with an X post by @WhaleScan claiming President Trump would launch a new coin, a claim that Eric Trump publicly rejected on Saturday, Aug. 22.
- Eric Trump posted that the claims were “absolutely not true” and called any suggestion of a family coin a fraud.
- Neither the social posts nor follow-ups provided an official announcement, ticker symbol, a verifiable smart-contract address, or a confirmed wallet owner.
- While the claims circulated, market tracking showed the TRUMP token rose about 38% and MELANIA rose about 18.4% over 24 hours, moves recorded by CoinGecko and cited in reporting.
- The episode draws on the family’s prior crypto ties (World Liberty Financial, American Bitcoin and past meme tokens) and underscores how unverified posts can create short-term volatility and potential losses for ordinary investors.