World Liberty Financial (WLFI), the crypto venture backed by President Donald Trump and his family, has firmly debunked rumors of a new memecoin project tied to Truth Social. The speculation, which sent crypto enthusiasts into a frenzy, was quickly quashed by WLFI and Trump himself, clarifying that no such token is in the works.
WLFI Rejects New Memecoin Rumor
The buzz began when crypto influencer @cryptomanran hinted on X that Truth Social, Trump’s social media platform, might launch a memecoin within 72 hours. The claim reportedly spread like wildfire, fueled by the recent success of Trump-related tokens like $TRUMP and $MELANIA, which have drawn massive attention despite volatile price swings.
Posts on X likely amplified the speculation, with some users tying the rumored coin to WLFI’s growing crypto empire. The frenzy peaked as investors speculated about a new way to cash in on Trump’s brand. However, today, WLFI took to X to set the record straight, declaring, “There is no new Trump crypto project. WLFI is the only DeFi project backed by the Trumps.” Trump echoed this on Truth Social, urging followers to beware of scammers.
What is the World Liberty Financial Project?
World Liberty Financial, launched in 2024, is a decentralized finance (DeFi) platform focused on crypto lending, borrowing, and a dollar-pegged stablecoin called USD1. Unlike memecoins, WLFI’s token, $WLFI, is a governance token, with 63% available for public purchase and 75% of revenues going to the Trump family. The project has raised $550 million, boosted by a $30 million investment from crypto mogul Justin Sun.
Recently, WLFI faced a setback when co-founder Zach Witkoff’s X account was hacked to promote a fake Barron Trump memecoin, prompting warnings to investors. Despite these challenges, WLFI continues to expand, with plans to strengthen U.S. dollar dominance through stablecoins.
WLFI’s quick action to debunk the memecoin rumors highlights its focus on protecting investors from scams while advancing its DeFi mission. While no new memecoin is planned, the $TRUMP token’s ongoing “dinner with the president” contest for top holders remains a draw. As WLFI navigates the crypto world, its message for enthusiasts to stick to the official project and steer clear of fakes becomes clearer.
