Truth Social Denies Plans to Launch Meme Coin, Quelling Rumors

There are reports that Truth Social, a platform launched by Donald Trump to challenge big tech companies and serve right-wing audiences, is preparing to launch its own meme coin.

However, organizations associated with Trump have denied rumors about Truth Social's meme coin launch.

No Truth in Truth Social Meme Coin Rumors

The controversy began on Monday when Ran Neuner, founder and host of the famous Crypto Banter, posted on X (Twitter) that Truth Social's meme coin was about to be launched.

"Truth Social's meme coin will launch in the next 72 hours. Seems to be the same group as the $TRUMP team. Stay tuned," Neuner shared.

The post quickly spread, causing a stir in the meme coin trading community and Trump-related token enthusiasts.

Many speculated that the new coin would follow in the footsteps of TRUMP coin, a token that emerged during the US election.

However, many organizations associated with President Trump have denied these claims, including Truth Social.

In the same tone, World Liberty Financial (WLFI), Trump's decentralized finance (DeFi) project, also denied the rumors.

"Don't be fooled. There are no new crypto projects from Trump. WLFI is the only DeFi project endorsed by Trump. Anyone else pushing fake tokens is just a scammer trying to take advantage of the uninformed," WLFI clearly stated.

Donald Trump Jr., one of the president's sons, also reiterated this warning, noting, "There is no truth to Truth Social launching a meme coin." He also called on users not to become victims of misinformation.

In response to the opposition and confirmation from official sources, Neuner posted another article acknowledging the denial.

Meme Coin Speculation Decreases but Hasn't Disappeared

However, some confusion remains. Some observers point out that Truth Social's name on X appears with the tag "$DJT."

"Why do they have $DJT in their name?" a user jokingly asked.

It feels like DJT, the stock ticker for Trump Media & Technology Group (TMTG), could also be misunderstood as a cryptocurrency symbol. This detail has sparked speculation, especially as $DJT is trending on many crypto meme token forums.

Adding to the curiosity, previous reports suggested that Truth Social and its parent company are exploring the idea of launching a cryptocurrency to enhance platform utility.

TMTG's CEO and Chairman, Devin Nunes, has outlined the company's plan to expand digital services and explore various monetization methods for Truth+.

Specifically, Trump Media is considering launching a token to create an internal economy on its media assets. However, no specific timeline or official announcement has been made.

"As part of our rewards program, we are exploring introducing a utility token in Truth's digital wallet," Nunes wrote.

However, the denial from all parties seems clear. No cryptocurrency project from Truth Social has been confirmed, whether a meme coin or any other type.

Nevertheless, the rapid spread of rumors and subsequent market reaction reflect strong speculation surrounding Trump-branded crypto assets.