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Trump Memecoin Jumps 6.40% on Acquisition News
Generated by AI AgentCoin World
Friday, Jun 6, 2025 10:46 pm ET1min read
Eric Trump, son of the former U.S. President, announced that the Trump family-backed crypto platform, World Liberty Financial (WLF), plans to acquire a significant amount of the Official Trump memecoin. This announcement was made on a social media platform, where Eric Trump expressed pride in the alignment of the $TRUMP Meme Coin with
. The news initially caused the price of the Official Trump memecoin to jump by 6.40%, but it quickly retraced to $10.10 at the time of publication. The memecoin is currently ranked as the 45th largest cryptocurrency by market capitalization, valued at $2.03 billion.Despite the initial price surge, some crypto commentators were skeptical that the news did not drive a more significant price increase. One commentator noted that the lack of a substantial price pump following the announcement was not a positive sign. This development comes just weeks after the top 220 holders of the Trump memecoin gathered at the 's golf course in Virginia for an exclusive dinner and meet-and-greet event.
Eric Trump also addressed recent controversies surrounding the Official Trump Wallet. He dismissed the launch of the wallet, stating that while the project was not moving forward, the team remained focused on building the most exciting meme coin on the market. The controversy began when a non-fungible token marketplace and the team behind the Official Trump memecoin announced plans to launch the Official $TRUMP Wallet. Eric Trump clarified that the wallet was not authorized by the Trump family and warned the marketplace to be cautious about using their name without proper authorization. However, Donald Trump Jr. indicated that the family's crypto platform would be launching an official wallet soon.
Eric Trump, known for his pro-crypto stance, recently emphasized the growing interest in Bitcoin, stating that entities ranging from families to government funds are actively seeking to acquire the cryptocurrency. This sentiment reflects a broader trend in the crypto community, where Bitcoin is increasingly seen as a valuable asset. The Official Trump memecoin's performance and the Trump family's involvement in the crypto space continue to be closely watched by investors and enthusiasts alike.
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