A rumor that Trump would launch a new token on the Robinhood chain drove the TRUMP token above $3.4, its highest level since March, and pushed Robinhood shares up more than 11%. The TRUMP team sold millions of tokens during the rally, generating more than $9.15 million in proceeds from disclosed transactions and, according to the report, more than $12 million overall. The rumor spread across X, crypto communities, Telegram and WeChat on Aug. 21 and Aug. 22, alongside claims about test tokens named WWW, Truth Coin and Test Coin. Those claims were later linked by community members and KOLs to a repeat rug-pull scammer. Eric Trump, Trump's second son, denied the planned launch on Aug. 23, calling it a scam. Debate continued over whether the episode was a market-maker-led operation, the implications of the CLARITY Act, and a separate Trump Media token plan for eligible DJT shareholders. Whether the Trump family will launch another token, including one on the Robinhood chain, remains unknown.