Key Takeaways
- Eric Trump says no new Trump-family cryptocurrency is being launched, rejecting a viral claim that President Trump was preparing another token.
- The denial arrives while Senate negotiations over the CLARITY Act remain partly stuck on how far crypto ethics restrictions should extend to presidents and other senior officials.
- Coinbase CEO Brian Armstrong believes the bill can secure more than 60 votes on Sept. 15, but that vote only decides whether the Senate can proceed with the legislation.
Eric Trump has denied claims that the Trump family is preparing another cryptocurrency, as an unrelated but politically sensitive debate over presidential crypto interests continues to shape the CLARITY Act’s path through the Senate.
Speculation began after crypto accounts claimed that President Donald Trump was preparing to launch another coin. No official announcement, ticker, contract address, or filing accompanied the claim.
Eric Trump responded on X on Aug. 22, writing:
“No one is launching any kind of coin. If anyone is suggesting otherwise, it’s a fraud.” He described the wider claim as “absolutely not true.”
The denial should be treated separately from negotiations in Washington. There is no evidence that the rumored token was connected to the CLARITY Act or that Eric Trump’s statement was made in response to Senate talks.
Its timing, however, lands directly inside one of the bill’s most difficult negotiations.
Why Another Trump Token Would Have Drawn Scrutiny
The CLARITY Act is supposed to answer basic market-structure questions: when a digital asset is a security or commodity, which regulator has authority, and what rules exchanges and other intermediaries must follow.
But the Senate debate has expanded into who in government should be allowed to profit from crypto businesses while holding office.
Reuters reported that Trump disclosed more than $1.4 billion in income from family crypto ventures in 2025. Those interests include World Liberty Financial and the Official Trump memecoin. Trump says he has no day-to-day role in the family businesses and that his investments are independently managed.
A version of the proposed ethics language reported by the Washington Post would prohibit senior federal officials, including the president, vice president, members of Congress, and their spouses, from creating or sponsoring digital assets while in office. Negotiations over the final restrictions remain unsettled.
Senate Banking Committee Democrats have argued that existing language does not go far enough, while Reuters reported that some lawmakers from both parties have demanded stronger restrictions before supporting the bill.
Eric Trump’s denial therefore removes one immediate rumor from the discussion, but it does not resolve the underlying ethics negotiations surrounding existing Trump-linked crypto businesses.
Brian Armstrong Thinks 60 Votes Are Reachable
Coinbase CEO Brian Armstrong is considerably more optimistic about the bill’s broader arithmetic.
Speaking at the White House on Aug. 19, Armstrong described the legislation as a bipartisan compromise and said supporters could “hopefully get more than 60 votes come September 15th.”
Sixty is the key number, but Sept. 15 is not a final passage vote.
Senate Majority Leader John Thune filed cloture on the motion to proceed to H.R. 3633 before the August recess. The official Senate schedule says that the cloture motion ripens at 2:15 p.m. on Sept. 15. If fewer than 60 senators support cloture, the Senate cannot move directly into consideration of the bill.
Notably, the bill needed at least eight Democratic votes if all voting Republicans backed it. Thune’s decision to file for cloture suggested that Republican leadership believed the threshold could still be reached, but negotiations were ongoing when senators left Washington.
Armstrong’s 60-plus figure is therefore an expectation, not a published Senate whip count.
Ethics Isn’t the Only Problem
Even agreement on Trump-related restrictions would leave other disputes unresolved.
Banking groups continue to oppose provisions that would allow crypto platforms to offer rewards on stablecoin balances, arguing that such products could pull deposits away from traditional banks. The banking industry said in July that the latest Senate text still failed to adequately restrict interest-bearing stablecoin payments.
Lawmakers are also divided over anti-money-laundering protections and safeguards for software developers. Senate Banking Republicans argue the bill protects developers who merely publish code while preserving enforcement against misconduct; Democratic committee staff say parts of the framework could weaken tools used against decentralized mixers and illicit finance.
So even a successful Sept. 15 vote would only open the next stage.
The Senate would still need to debate amendments and pass the legislation, and any version differing from the House-approved bill would have to be reconciled before reaching Trump’s desk.
Eric Trump has killed the latest new-token rumor. Whether the Senate can settle the much larger question of political crypto ownership and find 60 votes for CLARITY will not be known until September.
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Dr. Guneet Kaur is a senior editor at CCN.com and a Science Fellow at Exponential Science. She is a fintech and blockchain expert with extensive experience in digital finance education, blockchain ecosystems, and cryptocurrency markets. She has worked with global media such as Cointelegraph, as well as education and blockchain platforms, to design and lead strategic content and learning initiatives. As an educator and assessor for top-tier executive programs, she bridges real-world fintech trends with academic insight.
Dr. Kaur is also a published researcher and peer reviewer across fintech and data science journals, including Financial Innovation Journal and International Journal of Big Data Intelligence and Applications. Her work spans data-driven analysis, Web3 innovation, and technical content development. With a strong foundation in both industry and academia, she translates complex financial technologies into practical applications, empowering learners, professionals, and institutions across the rapidly evolving digital finance landscape.
