World Liberty Financial (WLFI), a DeFi project affiliated with Donald Trump, has issued a clear statement rejecting rumors of an upcoming Truth Social memecoin. The rumors suggested that Trump’s social media platform, Truth Social, would soon launch a “Trump Points” NFT marketplace and a related memecoin. WLFI, however, has clarified that no such projects are in development.
WLFI Clears the Air on Memecoin Speculation
In a statement posted on its official X (formerly Twitter) account, WLFI firmly denied the circulating rumors, emphasizing that it remains the only legitimate DeFi project tied to the Trump family. The organization warned investors to be cautious of fraudulent memecoins that might be appearing under false pretenses.
“Don’t be fooled. There is no new Trump crypto project,” WLFI stated, urging the public to stay vigilant. The project also clarified that its focus remains on cryptocurrency acquisitions, particularly Ethereum (ETH), ahead of a potential market uptick.
Donald Trump Jr., who is leading the WLFI project, also addressed the rumors, confirming: “There’s no truth whatsoever about Truth Social launching a memecoin. Don’t be fooled by false information people are circulating.”
TRUMP Memecoin Sees Mixed Performance
In contrast to the rumors about Truth Social’s alleged memecoin, the official TRUMP memecoin has seen some renewed interest. After a significant decline earlier this year, the TRUMP token is up 46% over the past month and has gained 16% over the past week. However, it remains down more than 10% on the day, trading at $12.65, with a market capitalization of $2.53 billion.
Launched in January, the TRUMP memecoin initially surged to $80, but it lost nearly 85% of its value by mid-April, dropping below $10. Despite this, its daily trading volume has jumped by 100%, reaching $2.38 billion.
Trump’s Continued Involvement in Crypto
Donald Trump has shown increasing interest in the cryptocurrency market, recently launching the USD1 stablecoin, which saw significant traction in early May. WLFI’s announcement serves as a reminder for investors to stay alert and avoid falling victim to deceptive schemes in the crypto space.
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