Former President Donald Trump's family has become aware of a cryptocurrency called Trumpcoin, more than five years after its launch, and are now threatening legal action.
Eric Trump tweeted Monday a "fraud alert" on Trumpcoin, saying the coin has no ties with the Trump family. He then said there would be legal action against the cryptocoin.
Fraud Alert: It has come to our attention that someone is promoting a crypto currency called "TrumpCoin" (Symbol "TRUMP.") 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.
— Eric Trump (@EricTrump) January 24, 2022
The Trumpcoin Twitter account replied to Trump's tweet confirming it never said it was associated with the former president's brand. In other replies to Twitter users, it points to the Trumpcoin's FAQ page where it states there are no ties with the Trump brand.
Trumpcoin reiterated in a statement to CNET that it launched more than five years ago and is "not affiliated with the Trumps in any way and has been on our website since day 1."
"We feel this is a misunderstanding and we are in the crossfire," the Trumpcoin spokesperson added.
According to the FAQ, Trumpcoin started in February 2016. It's currently priced at 26 cents.
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