Truth Social Says It Will Not Launch a Memecoin

Reading Time: < 1 minute

Truth Social, the social media network of Trump Media, has refuted rumors that it is launching a memecoin.

“Truth Social is not launching a memecoin,” the platform’s official account announced. Owned by Trump Media & Technology Group, the company is primarily owned by US President Donald Trump.

Donald Trump Jr., President Trump’s eldest son, added on X, “There’s no truth to the rumors of Truth Social launching a memecoin. Don’t be misled by circulating misinformation.”

The rumors began when influencer Ran Neuner, host of the Crypto Banter podcast, tweeted that a Truth Social token would launch within 72 hours, allegedly backed by the same team behind the TRUMP token.

President Trump, known for his pro-crypto stance, has launched the TRUMP token, while First Lady Melania Trump released the MELANIA token.

Controversy arose when Trump announced that top TRUMP token holders would be invited to a special gala dinner on May 22.