Key PointsEric Trump refuted speculation about another Trump family cryptocurrency, declaring such claims fraudulentSpeculation began with a @WhaleScan post on X alleging Donald Trump would launch a new digital tokenAnother unverified claim suggested a Robinhood Chain wallet with 290 ETH was tied to “Truth Coin”TRUMP token climbed 38% while MELANIA rose 18.4% during the 24-hour period amid circulating rumorsBoth posts lacked official confirmation, ticker information, or verifiable contract addressesEric Trump took to X on August 22 to address circulating reports that suggested his family planned to introduce another cryptocurrency. His statement was unambiguous: “What a joke… This is absolutely not true. No one is launching any kind of coin. If anyone is suggesting otherwise, it’s a fraud.”What a joke… This is absolutely not true. No one is launching any kind of coin. If anyone is suggesting otherwise, it’s a fraud. https://t.co/H0nWXNL8rn— Eric Trump (@EricTrump) August 22, 2026His public dismissal came after @WhaleScan published a post stating, “DONALD TRUMP IS OFFICIALLY ABOUT TO LAUNCH HIS NEW COIN.” The assertion came without supporting evidence, lacking both a ticker designation and verifiable contract information.Another claim emerged at 3:03 p.m. ET, alleging a newly created Robinhood Chain wallet had been credited with 290 ETH and was transacting with contracts bearing the labels “WWW / ‘Truth Coin’.” This post similarly provided no wallet credentials or ownership verification.Eric Trump’s statement didn’t engage with the specific allegations in either post. Instead, he categorically dismissed the underlying premise.Why Speculation Gained MomentumThe unfounded claims found an audience partly because the Trump family maintains legitimate cryptocurrency ventures. Eric Trump has publicly acknowledged involvement with World Liberty Financial, a decentralized finance platform that debuted in 2024. The family also maintains ties to American Bitcoin, another distinct project.Prior meme token deployments amplified the credibility of these rumors. Both TRUMP and MELANIA tokens currently trade, leveraging the Trump name recognition. These previous launches established a pattern that led some market participants to anticipate additional token offerings.This existing ecosystem of Trump-branded digital assets made the @WhaleScan allegations appear plausible to those monitoring Trump-adjacent cryptocurrency developments.Significant Price Movement RecordedAs the unsubstantiated claims spread, established Trump-affiliated tokens experienced notable volatility. TRUMP reached $2.47, representing a 37.9% increase across 24 hours, fluctuating between $1.79 and $3.60, per CoinGecko data. MELANIA hit $0.1112, gaining 18.4%, with intraday trading spanning $0.09085 to $0.1614.Trump PriceBoth digital assets remained below their 24-hour peaks when these figures were recorded. CoinGecko’s tracking verified the magnitude of price fluctuations but couldn’t attribute them to any specific catalyst.Trading patterns illustrated how rapidly baseless speculation can influence token valuations, independent of authenticated information.Eric Trump’s public rejection represented the sole official response from individuals connected to Trump-branded cryptocurrency initiatives. Neither Robinhood nor any identified token developer issued clarifications.This incident reflects a recurring phenomenon. Speculation surrounding Trump family digital currency projects has emerged and been discredited previously, yet fresh waves of conjecture consistently attract attention.The post Eric Trump Shuts Down Fresh Crypto Launch Speculation as TRUMP Token Soars 38% appeared first on Blockonomi.