Donald Trump’s World Liberty Financial denies rumors of a Truth Social memecoin and NFT marketplace launch.
Recently, rumors have increased regarding the potential introduction of a memecoin by Donald Trump’s social media platform, Truth Social. DeFi project World Liberty Financial (WLFI) has clarified that there is no such project in development, and investors should remain vigilant regarding any such meme coins circulating in the market. This information has been used to put the matter to rest.
World Liberty Financial Clarifies Position on Truth Social Memecoin
Donald Trump’s DeFi initiative, World Liberty Financial, has released a definitive statement to refute the rumors regarding a new memecoin purportedly associated with Trump’s social media platform, Truth Social. The rumor was that the Trump team would introduce the ‘Trump Points’ NFT marketplace, a platform intended for purchasing and selling NFTs. However, WLFI has refuted any such developments.
“Do not be deceived.” The organization announced on its official X channel that no new Trump crypto initiative exists. WLFI underscored that it continues to be the sole legitimate DeFi project with connections to the Trump family. On the other hand, World Liberty Financial persists in its cryptocurrency acquisition, accumulating Ethereum (ETH) just before the surge.
WLFI has also cautioned investors to exercise caution when dealing with fraudulent tokens marketed as part of Trump-related initiatives. “Anyone else promoting fake tokens is merely a scammer attempting to exploit individuals unaware of the situation,” WLFI advised. Donald Trump Jr., who is currently overseeing the WLFI initiative, also provided clarification, stating:
“There’s no truth whatsoever about Truth Social launching a memecoin. Don’t be fooled by false information people are circulating.”
OFFICIAL Trump Memecoin Cracks 10%
Conversely, the OFFICIAL Trump (TRUMP) memecoin has experienced a decline of over 10% today and is currently trading at $12.65, with a market capitalization of $2.53 billion. The TRUMP memecoin experienced significant momentum upon its inception in January of this year, ultimately reaching $80. Nevertheless, it plummeted to under $10 by mid-April, losing 85% of its value.
TRUMP memecoin is currently exhibiting vigor, with a 16% increase in the past week and a 46% increase on the monthly chart. TRUMP’s daily trading volume has also increased by 100% to $2.38 billion.
Donald Trump has recently demonstrated his significant interest in the crypto market by introducing the USD1 stablecoin, which experienced significant growth in early May.
