A cryptocurrency wallet linked to former President Donald Trump's meme coin ceased operations on Thursday, just hours after the project received a cease and desist order from another crypto project also related to Trump, threatening legal action. This incident highlights the complicated internal battle over the use of the Trump brand in the cryptocurrency space.
Earlier this week, Trump's meme coin project launched a crypto wallet in partnership with the major NFT marketplace Magic Eden. This wallet promises financial rewards in the form of token $TRUMP for users who sign up for the waitlist and allows transactions of various cryptocurrencies across multiple blockchains.
However, President Trump's sons seem to be unaware of this plan. They have been developing their own Trump-branded crypto wallet for months through #WorldLibertyFinancial , their decentralized finance (DeFi) platform on Ethereum. Notably, Trump's meme coin project is not run by his sons but is led by Bill Zanker, a longtime business partner of the former president.
Just minutes after the crypto wallet associated with Trump's meme coin launched, his sons took to social media X to strongly assert that they do not approve of the project's use of their brand. According to Bloomberg's report, on Thursday, World Liberty sent a cease and desist order to both Fight, Fight, Fight (the LLC behind Trump's meme coin run by Zanker) and #MagicEden .
Following this report, many internet users indicated that the Trump wallet website had ceased operations. Decrypt could not access the site from multiple different IP addresses. However, the project's X account, despite some users reporting it had been disabled at various times on Thursday, remains active.
It remains unclear whether former President Trump is directly intervening in the dispute between his crypto business partners. All are competing to profit from his image while enriching themselves. Although Trump's Truth Social and X accounts have promoted products related to his meme coin over the past few months, they have yet to post about the Trump wallet after family members opposed this plan. The incident highlights the legal and branding troubles that can arise when major public figures enter the cryptocurrency space.
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