The announcement of an “Official TRUMP Wallet” has created chaos within Trump-linked cryptocurrency businesses as the president’s family quickly distanced themselves from the project. Donald Trump Jr. clarified that the Trump Organization has “zero involvement” with the wallet product announced by Magic Eden and the TRUMP memecoin team.
The announcement of an “Official TRUMP Wallet” has created chaos within Trump-linked cryptocurrency businesses as the president’s family quickly distanced themselves from the project. Donald Trump Jr. clarified that the Trump Organization has “zero involvement” with the wallet product announced by Magic Eden and the TRUMP memecoin team.
The controversy began when NFT marketplace Magic Eden and the team behind the Official Trump meme coin announced plans to launch “the Official $TRUMP Wallet” on June 3. However, the family’s immediate response contradicted any authorized involvement in the project.
Donald Trump Jr. stated that neither he nor Eric Trump knew anything about the wallet. They emphasized that World Liberty Financial would soon launch its official wallet. The clarification came as the X platform account @trumpwalletapp was reportedly frozen amid the confusion.
escalated the situation by threatening legal action against projects using the Trump name without approval. He warned Magic Eden to “be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization.”
The youngest son, Barron Trump, made his first-ever X to emphasize that the family “has zero involvement with this wallet.” The strong pushback from multiple Trump family members suggests serious concerns about unauthorized brand usage and potential legal implications for the companies involved.
Crypto skeptic Molly White, who first on the wallet controversy, described the situation as “absolute chaos” and speculated about communication breakdowns between various Trump-linked cryptocurrency businesses.
The TRUMP token team, Magic Eden, and the platform’s CEO, Jack Lu, who initially promoted the wallet, have not issued public statements addressing the Trump family’s disavowal. This silence from the wallet developers adds to market uncertainty as investors attempt to assess the legitimacy and future viability of the announced product.
The incident serves as a cautionary story for cryptocurrency projects seeking celebrity or political endorsements without proper authorization. The swift and coordinated response from the Trump family shows they actively monitor cryptocurrency projects using their name and will take action against unauthorized usage.
