Trump family-backed World Liberty Finance, on May 13th, issued a “fake news alert” debunking rumors that Truth Social was launching a memecoin. Their comments came after CNBC’s Neuner spread rumors about the memecoin launch.
Donald Trump’s World Liberty Financial dismissed rumors about launching a Truth Social memecoin and an NFT marketplace today. The WLFI team warned the crypto community not to “be fooled,” stating, “There is no new Trump project.” World Liberty Finance clarified that WLFI was the only DeFi project backed by the Trumps and “anyone else pushing fake tokens” was “just a scammer trying to take advantage of people who don’t know better.”
Don’t be fooled. There is no new Trump crypto project. 🦅
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. https://t.co/SxUs9zh9Wc— WLFI (@worldlibertyfi) May 13, 2025
The controversy began Monday when Ran Neuner, founder and host of the popular Crypto Banter show, posted on X (Twitter) that the Truth Social memecoin was imminent. The rumor was that the Trump team would also unveil the ‘Trump Points’ NFT marketplace–a platform designed for buying and selling NFTs.
Neuner’s post quickly went viral, sparking a frenzy among memecoin traders and Trump-themed token enthusiasts. Many speculated that the new coin would follow in the footsteps of the TRUMP coin–the token that surged in popularity during the U.S. election season. However, several entities affiliated with President Trump have dismissed the claims, including WLFI and Truth Social itself.
Don’t be fooled. There is no new Trump crypto project. 🦅
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. https://t.co/SxUs9zh9Wc— WLFI (@worldlibertyfi) May 13, 2025
Donald Trump Jr., who’s leading the WLFI project, countered these claims and further warned investors to stay cautious of circulating news promoting fraudulent tokens under the guise of Trump-related initiatives.
“There’s no truth whatsoever about Truth Social launching a memecoin. Don’t be fooled by the false information people are circulating.”
–Donald Trump Jr., President Trump’s son
The clarification came amid a wave of unaffiliated “Truth”-themed tokens appearing across Ethereum and Solana-based trading platforms, according to data from DEXTools.
Trump’s Truth Social considers launching token for subscriptions
Truth Social–the social media platform owned by Trump Media & Technology Group (DJT)–announced through a letter to its shareholders on April 30th that it was considering launching a crypto project as part of its rewards program.
The Truth Social team said it was exploring the introduction of a utility token with a Truth digital wallet that can initially be used to pay for Truth+ subscription costs and later be applied to other products and services in the “Truth ecosphere.”
The team also said it was an immense point of pride at Trump Media & Technology Group (Nasdaq and New York Stock Exchange Texas: DJT) that its shareholder base overwhelmingly comprised retail investors who were investing their own savings to help further Truth Social’s mission.
The company also revealed that it was looking into launching exchange-traded funds (ETFs) that will combine equities with cryptocurrencies, the letter reiterated. Trump Media (DJT) first disclosed back in March that it was looking to partner with crypto exchange Crypto.com to launch a series of exchange-traded products (ETPs) and funds (ETFs). The ETPs will include crypto assets and securities from other sectors, such as the energy industry, and Crypto.com will provide the backend technology, custody solutions, and crypto supply. According to the company’s press statement, the investment vehicles are expected to launch in 2025.
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