Trump Media & Technology Group’s social media platform, Truth Social, denies rumours that the platform is planning the release of a memecoin.

The rumour started when Ran Neuner, founder of Crypto Banter, posted on X that a Truth Social memecoin could be launching within 72 hours.

The rumour triggered widespread frenzy among traders and meme coin enthusiasts, fueling speculation that Truth Social would follow in the footsteps of Trump’s own $TRUMP token.

Trump Setting the Record Straight

But the company quickly moved to quash the buzz. In a X post, Trump's eldest son, Donald Trump.Jr, denied the rumour, calling it false information.

“There’s no truth whatsoever about Truth Social launching a memecoin. Don’t be fooled by false information people are circulating.”

The Trump family’s other decentralized finance platform, World Liberty Financial (WLFI), also chimed in on the conversation, warning investors to stay cautious of fraudulent tokens promoted under the guise of Trump-related initiatives.

“WLFI is the only DeFi project backed by the Trumps. Anyone else pushing fake tokens is just a scammer trying to take advantage of people who don’t know better."

While Truth Social has denied any plans for a meme coin, the company is not ruling out crypto entirely. In a recent shareholder letter, CEO Devin Nunes revealed that Trump Media is actively exploring a “utility token” within a Truth digital wallet tied to its upcoming Truth+ video streaming platform.

The token would initially be used for subscription payments and could eventually power a rewards system across other Trump Media services.

“As part of a rewards program, we’re exploring the introduction of a utility token within a Truth digital wallet that can initially be used to pay for Truth+ subscription costs.”

No timeline or formal launch date has been announced, but the move signals that Trump Media is eyeing broader digital asset integration-just not in the form of a meme coin, for now.

Democrats Attempt To Ban Crypto For Donald Trump

The meme coin rumor comes as Trump and his family deepen their involvement in the digital asset space. The $TRUMP token, officially launched earlier this year, has seen wild price swings and is down more than 80% from its all-time high, though it remains a magnet for speculation.

Melania Trump has also launched her own $MELANIA token, and the family’s WLFI project recently debuted a stablecoin on Ethereum and BNB Chain.

Trump's deep connection with crypto has raised eyebrows among Democratic senators, who are raising ethical and legal concerns and warning that such events would blur the line between political fundraising and personal enrichment.

Senator Richard Blumenthal previously accused Trump's memecoin launch and other crypto ventures as an invitation that would allow anyone in the world, including foreign governments and unscrupulous individuals to directly enrich the president.

To nip these issues in the bud, Democrat lawmakers have proposed the " End Crypto Corruption Act", a legislative proposal aiming to strictly crypto access for the highest state officials.

These texts prohibit these figures from issuing, promoting, sponsoring any cryptocurrency during their term and up to one year after leaving office.

If this legislature get passed, it would ultimately lead to the impeachment of President Trump.

Trump and Melania Tokens Drops Following Trump's Statement

As rumors were quashed, both $TRUMP and $MELANIA tokens experienced double-digit price drops, highlighting the volatility and hype-driven nature of the Trump-branded crypto ecosystem.

Still, interest remains high, with analysts predicting renewed surges as Trump Media rolls out new digital initiatives.

For now, Truth Social insists there’s “no truth” to the meme coin rumors, but the platform’s crypto ambitions-and the Trump family’s growing digital asset empire-ensure that speculation will continue to swirl.