White House Posts ‘TRUMP COIN,’ But Not the Crypto. $TRUMP Dips
The White House shared a nine-second video selling a brand new Trump Coin on July 16, but it surely wasn’t the cryptocurrency. Treasury Secretary Scott Bessent unveiled a $1 gold-finish coin honoring President Trump for America’s 250th anniversary.
The announcement brought about temporary confusion on-line, since the bodily coin shares its identify with the TRUMP memecoin. That token traded close to $1.56 shortly after the video circulated on X.
Coin Marks America’s 250th Anniversary
The US Mint’s new coin has a gold-like end, although non-precious metals make up its composition, the Treasury Department stated. Workers are minting it in Philadelphia and plan to launch it this fall.
“As America commemorates 250 years of independence, the @usmint will start placing this new $1 gold coin to honor the enduring legacy of liberty and a long-lasting image of patriotism.”
— Bessent
Federal legislation typically bars residing presidents from showing on US forex. However, a 2020 legislation allowing anniversary-themed designs allowed this launch. The Commission of Fine Arts, whose members Trump appointed, accredited the design in March.
It follows different Trump-branded forex efforts, together with a proposed $250 invoice and passports bearing his likeness.
TRUMP Token Slips Near $1.56
The confusion coincided with a dip in the TRUMP memecoin, which dipped toaround $1.56 from $1.59, in accordance with CoinGecko. The token stays greater than 97% under its January 2025 all-time high close to $73.
Some replies beneath the White House X post requested whether or not the coin carried the similar rip-off considerations as the crypto token.
$TRUMP has struggled for months. Scheduled token unlocks and a wave of retail losses have weighed it down, in accordance with blockchain analytics agency Nansen.
Whether the bodily coin briefly rattled crypto merchants or the dip merely displays the token’s broader decline stays unclear. Either method, the two Trump-branded belongings now share greater than only a identify.
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