Trump Media Dismisses Speculation After Crypto Influencer Suggests Token Launch
Truth Social, the social media platform owned by Trump Media & Technology Group, has denied claims that it plans to launch a memecoin, pushing back on speculation circulating on crypto Twitter and other online communities.
“Contrary to rumors, Truth Social is not launching a memecoin,” the official Truth Social account posted on its platform on May 13.
The rumors gained traction after crypto influencer Ran Neuner, host of the Crypto Banter podcast, tweeted that a Truth Social-branded token would launch “within the next 72 hours,” claiming that it involved the same team behind the controversial TRUMP token.
However, Donald Trump Jr. firmly rejected the claims in a post on X (formerly Twitter):
“There’s no truth whatsoever about Truth Social launching a memecoin. Don’t be fooled by false information people are circulating.”
As of publication, Neuner has not responded to media inquiries regarding the source of his claim.
Trump’s Past Crypto Engagement Fuels Speculation
Though Truth Social denies launching a token, President Donald Trump and his inner circle have previously embraced memecoins and other crypto-related ventures.
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TRUMP token: Launched earlier this year with Trump’s endorsement
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MELANIA token: Backed by First Lady Melania Trump
Trump recently made headlines after inviting TRUMP token holders to a gala dinner on May 22, a move that sparked backlash from U.S. lawmakers and triggered renewed impeachment demands from some senators.
A Bloomberg report also raised eyebrows, noting that many top holders of TRUMP tokens appear to be based overseas, raising concerns about foreign influence in crypto-based political fundraising.
Who Holds the TRUMP Token?
As of May 13:
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220 wallets hold more than 13.7 million TRUMP tokens
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Total value is estimated at approximately $174 million
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Wallets include names like “Sun” and “elon,” possibly referencing Justin Sun (Tron founder) and Elon Musk, both vocal Trump supporters
The TRUMP token hit an all-time high of $73.43 on January 19, the day before Trump’s inauguration. It has since dropped over 80%, but saw a 14% gain over the past 7 days, currently trading at around $12.52, according to CoinGecko.
Final Thoughts: Rumors, Reality, and Political Crypto Crossroads
While Truth Social’s leadership insists no token is in the works, the rapid spread of the rumor underscores just how closely Trump-affiliated platforms are being watched in the crypto space.
With crypto gaining political momentum under the Trump administration — and Trump’s own token ecosystem making waves — speculation may continue to swirl around the intersection of memes, money, and politics.
For now, Truth Social remains token-free, but the market’s appetite for politically charged crypto projects shows no signs of cooling down.
