Eric Trump, son of the former US president Donald Trump, wants you to know that the new crypto using the family name, TrumpCoin (TRUMP), is not connected to the New York dynasty — and is threatening the altcoin’s founders with legal recourse.
“This has NOTHING to do with our family, we do not authorize the use and we are in no way affiliated with this group. Legal action will be taken,” the younger Trump, who serves as the Executive Vice President of The Trump Organization, tweeted.
TrumpCoin’s official social media account has replied to the aggrieved executive with an excerpt from the frequently asked questions (FAQ) section on its website in which one of the questions asks if TrumpCoin was owned, affiliated, or endorsed by Donald Trump.
According to the site: “No, Trumpcoin.com is not owned, operated, endorsed by, or otherwise affiliated with Donald J. Trump, The Trump Organization, Donald J. Trump for President Inc, or any other organization owned and/or operated by Donald J. Trump or any of his affiliates.”
TrumpCoin’s founders say its history dates back to February 20, 2016, and that the crypto was created with the aim to honor Donald Trump. This was less than nine months before he won the November 2016 presidential election.
“TrumpCoin shows that other digital currencies besides Bitcoin can be capable of great things. It will be the first to pave the way into fundraising support of Patriots worldwide who need support in their fight against corruption and tyranny,” the website claims.
Meanwhile, at 13:30 UTC, the altcoin’s price was weighing down, at slightly more than USD 0.23, and a market capitalization of about USD 1.54m, according to data obtained from Coinmarketcap.com. The price is down 4.2% in the past day, and nearly 38% in a week.