Trump Jr Shuts Down Truth Social Memecoin Speculation—Even as Political Dynasty Doubles Down on Crypto
Another day, another denial of a Trump-linked token—but the family’s blockchain ambitions keep growing. Donald Trump Jr. dismissed rumors of an official Truth Social memecoin this week, calling the speculation ’baseless’ in a characteristically brash tweet. Yet the rebuke comes just months after the former president quietly filed new trademarks for NFT and cryptocurrency services.
Political tokens: the new pork-barrel spending? While junior claims no involvement, the Trump organization has been methodically expanding its crypto footprint—from NFT trading cards to a rumored ’MAGA coin’ payment system. Critics argue the family is hedging its bets, leveraging both crypto-skeptic rhetoric and blockchain opportunism to court polarized audiences.
The real play? A closed-loop ecosystem where loyalty points are tradable assets—and every rally attendee becomes a liquidity provider. After all, nothing says ’drain the swamp’ like creating your own unregulated securities market.
Trump’s expanding crypto footprint
Although a Truth Social memecoin appears off the table, the rumors reflect growing interest from the Trump circle in crypto.
Last month, Trump Media and Technology Group (TMTG), the parent firm behind Truth Social, revealed that it was exploring broader crypto integrations.
The firm’s CEO, Devin Nunes, highlighted plans for a ‘native utility token’ and digital wallet for its video streaming platform, Truth+. That token may be used for subscriptions and extended to other platform services.
[Editor’s Note: The definition of a memecoin is worth considering here, as the TRUMP token, which is viewed within this classification, has utility in that holders are able to meet with the President of the United States. Factually, purchasing enough of the token has the utility of giving you direct access to the President.
The Truth+ token is set to have utility within the ‘Truth ecosystem’ for payments but could also function similarly to a memecoin in terms of momentum-based price increases due to Donald Trump’s fan base. Thus, whether the token discussed by Nunes is now off the table too remains unclear.]
TMTG has also partnered with Crypto.com and Yorkville America to develop a new line of exchange-traded funds. These will feature a mix of traditional assets and crypto, including Bitcoin and Cronos (CRO), as the firm deepens its stake in digital finance.
These planned ventures reveal how Trump’s ties to the crypto industry have continued to grow during the past year.
Once a bitcoin skeptic, Trump has evolved into a vocal supporter of digital assets, with several crypto ventures and moves to his name. He became the first US presidential candidate to accept Bitcoin donations during his latest presidential campaign.
His involvement has gone beyond campaign finance. Trump has released several NFT collections and backed WLFI as a decentralized finance initiative.
Since returning to office, he has appointed several pro-crypto figures to key government roles, including SEC Chair Paul Atkins and Howard Lutnick as the Secretary of Commerce.
