The White Home shared a nine-second video selling a brand new Trump Coin on July 16, nevertheless it 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 on temporary confusion on-line, for the reason that bodily coin shares its title 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 Division stated. Employees are minting it in Philadelphia and plan to launch it this fall.
“As America commemorates 250 years of independence, the @usmint will start putting this new $1 gold coin to honor the enduring legacy of liberty and a long-lasting image of patriotism.”
— Bessent
Federal regulation typically bars dwelling presidents from showing on US forex. Nonetheless, a 2020 regulation allowing anniversary-themed designs allowed this launch. The Fee of High-quality Arts, whose members Trump appointed, authorized 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 Close to $1.56
The confusion coincided with a dip within the TRUMP memecoin, which dipped toaround $1.56 from $1.59, in keeping with CoinGecko. The token stays greater than 97% under its January 2025 all-time excessive close to $73.
Some replies beneath the White Home X submit requested whether or not the coin carried the identical rip-off considerations because the crypto token.
$TRUMP has struggled for months. Scheduled token unlocks and a wave of retail losses have weighed it down, in keeping with blockchain analytics agency Nansen.
Whether or not the bodily coin briefly rattled crypto merchants or the dip merely displays the token’s broader decline stays unclear. Both means, the 2 Trump-branded belongings now share greater than only a title.
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