On Tuesday, an eye-catching website surfaced, showcasing an illustration of Donald Trump flexing his muscles while promoting the “Official $Trump Wallet.” This platform is designed to facilitate the buying and selling of cryptocurrencies, primarily featuring Trump’s own digital currency, $Trump. The site invites users to join a waitlist for the digital wallet, attracting attention from crypto enthusiasts and newsletters, notably Citation Needed. Magic Eden, a reputable cryptocurrency marketplace, announced a partnership with Trump’s digital coin team to develop the wallet, which was also promoted through the Twitter account associated with Trump’s cryptocurrency initiatives.
Despite the apparent official backing, Trump’s sons voiced concerns about the wallet. Donald Trump Jr. stated on X (formerly Twitter) that the Trump Organisation had no connection to this product. He was soon joined by Eric Trump, who claimed he was unaware of the project’s details and asserted the family’s disassociation. Barron Trump added his support by confirming the family’s lack of involvement. Trump Jr. mentioned that he had been diligently working on launching a proper wallet through World Liberty Financial, a company the Trump family established last year.
This discrepancy highlights the ongoing tensions within the Trump family concerning cryptocurrency ventures. Magic Eden’s announcement and Zanker’s business—Fight Fight Fight LLC, which oversees the $Trump coin—contradict the statements from Trump Jr. and Eric Trump. The Trump Organisation controls another company, CIC Digital, which, along with Zanker’s firm, manages the trade of the cryptocurrency.
Eric Trump emphasised the risks, warning on X that the project lacked official approval and urged caution from Magic Eden regarding their association with the unauthorised wallet.
In recent months, Trump’s family and business associates have launched a range of crypto-related enterprises, including a memecoin depicting Trump and a stablecoin intended to maintain a constant value. Melania Trump has even introduced her own memecoin. Although Trump initially opposed cryptocurrencies during his presidency, he has since switched stance, becoming the first major political figure to accept crypto donations, engaging with the industry at conferences, and hosting key cryptocurrency influencers at his golf club. His administration appointed investor David Sacks as “crypto czar” and relaxed regulations affecting digital assets.
To date, there has been no response from the White House, Magic Eden, or Zanker regarding the unfolding situation surrounding the $Trump Wallet and its legitimacy.