An internet site claiming to launch the “Official TRUMP Wallet” appeared on-line on June 3. It acknowledged that the builders behind Trump’s meme coin had been working with the crypto platform Magic Eden to construct a brand new buying and selling app. The app promised to let customers purchase and promote digital belongings equivalent to Bitcoin and Dogecoin, and be a part of the $TRUMP ecosystem. A waitlist on the location provided early entry and teased potential rewards, together with “$1 MILLION in $TRUMP REWARDS.”
However shortly after the location went reside, Donald Trump Jr., Eric Trump, and Barron Trump publicly rejected any connection to the product. In particular person posts on X, they acknowledged that the Trump household had no position in launching or approving the pockets. Barron Trump went additional, writing that the household had “zero involvement.”
Battle Between Trump Allies and Household Over Crypto Initiatives
The conflicting statements revealed tensions between Trump members of the family and longtime allies. Invoice Zanker, a enterprise affiliate of Donald Trump, is intently linked to the $TRUMP meme coin and seems to be one of many figures behind the newly introduced pockets.
On the opposite facet are Donald Jr. and Eric Trump, who co-founded World Liberty Monetary — a separate decentralized finance enterprise that has already launched its personal governance token and stablecoin referred to as USD1. In his X publish, Donald Jr. clarified that whereas the Trump Group is creating its personal crypto pockets, it has no connection to the one promoted by Magic Eden.
Eric Trump Threatens Authorized Motion Towards Builders
Eric Trump went a step additional by threatening authorized motion. “There is no deal for this product,” he wrote. “There is no agreement for this product. It has not been approved.” He warned that the household would possibly pursue authorized motion in opposition to the builders for utilizing the Trump title with out authorization.
Regardless of this, Magic Eden and the official $TRUMP coin account stood by the product. Jack Lu, Magic Eden’s CEO, posted on X that the mission was developed in partnership with the $TRUMP workforce. The meme coin account additionally confirmed the pockets’s legitimacy and reiterated its aim of creating crypto extra accessible to Trump supporters.
The pockets’s web site was visually just like GetTrumpMemes.com — the first website for the Trump meme coin — however operated below a distinct, undisclosed area. Hours after Eric Trump’s risk, the related X account — @TrumpWalletApp — was suspended.
A number of Trump-Branded Crypto Initiatives Trigger Confusion
Since late 2023, the Trump household and its associates have launched or supported no less than 4 separate blockchain-related initiatives.
The primary is Trump Media & Expertise Group (TMTG), which operates Fact Social, Fact+, and Fact.Fi. On the identical day the pockets was introduced, Fact.Fi filed with the SEC to create a spot Bitcoin ETF.
The second is Zanker’s $TRUMP coin initiative, which launched meme cash like $TRUMP and $MELANIA, organized token-holder occasions, and now seems to again the disputed pockets. Zanker can be reportedly creating a Monopoly-style crypto sport with token rewards.
The third enterprise is World Liberty Monetary, which is managed by the Trump sons. It has outlined plans for a regulated DeFi ecosystem and a future pockets product.
The fourth, American Bitcoin, focuses on mining operations and likewise has affiliation with the Trump sons.
Though these ventures all use Trump’s title or picture, they function independently, with no central oversight. The launch of comparable merchandise — equivalent to competing wallets — has led to overlapping branding and inner disputes.