Eric Trump and Donald Trump Jr. denies any affiliation with Magic Eden's Trump-branded crypto wallet.
Magic Eden promotes a $1 million sweepstakes for its crypto wallet, but faces backlash over unauthorized branding.
The controversy highlights the blurred lines between political figures and the growing crypto industry.
After Magic Eden made its announcement about a crypto wallet with Trump branding, members of the Trump family reacted immediately. The marketplace announced it is partnering with $TRUMP meme coin creators to put out the “Official $TRUMP Wallet.” But Eric Trump soon responded by distancing himself, saying that the project was never sanctioned by himself or his family. The incident has caused concern about crypto companies branding their business strongly, often without enough supervision.
Magic Eden’s Trump Wallet Announcement
On June 3, 2025, Magic Eden, a major NFT marketplace, unveiled its partnership with the $TRUMP meme coin team to introduce the Trump-branded crypto wallet. The wallet promises to support $TRUMP tokens and other cryptocurrencies, including Bitcoin. Additionally, Magic Eden promoted a sweepstakes offering a $1 million prize pool in $TRUMP rewards to entice users to sign up for the wallet’s waitlist at TrumpWallet.com.
However, the Trump family was quick to distance itself from the project. Eric Trump, son of former President Donald Trump, posted on X (formerly Twitter), stating that he had no knowledge of the wallet initiative. “I run @Trump and I know nothing about this project!” he wrote, tagging Magic Eden's lead partners. Eric Trump made it clear that the project was not authorized and cautioned Magic Eden to avoid using the Trump name without permission.
https://twitter.com/EricTrump/status/1930014390280966434 Donald Trump Jr. Responds to Wallet Project
Donald Trump Jr. also weighed in, denying any involvement in the wallet launch. He revealed that the Trump family is working on its own separate crypto wallet through World Liberty Financial. His statement reinforced that the wallet launched by Magic Eden was not part of the family’s official business.
Despite the Trump family’s disavowal, the wallet announcement was shared by the official TrumpMeme account on X. This raised further confusion, as it seemed to contradict the family’s rejection of the project. The @TrumpWalletApp account, which was later suspended, claimed the wallet was the “first and only crypto wallet for true Trump fans.”
Magic Eden’s Vision and Future Plans
Magic Eden’s CEO, Jack Lu, stated that the wallet aimed to bring mainstream users into the crypto space. The product was developed using Slingshot Finance, an app acquired by Magic Eden in April 2025. The app supports meme tokens but does not handle identity verification directly. Instead, it uses MoonPay, a third-party service, for fiat on-ramp procedures. It is unclear if the Trump Wallet will have its own compliance mechanisms or how revenue will be divided among the involved parties.
The debate around the Trump Wallet points out how political brands and cryptocurrency ventures are linking across industries. The increased involvement of political figures and particularly the Trump family, in crypto makes many people ask if these products can be trusted. As politicians are discussing crypto more, it becomes clear that it is important to tell which comments are official and which are simply used for profit.
A Trump-branded crypto wallet from Magic Eden has sparked fights in the Trump family because they want no involvement with the project. It brings attention to the difficulties of handling the crossover of politics and crypto.
