Trump's Crypto Empire Unveils 'Rashomon': A Family Civil War and the Record of Retail Frenzy
Family Civil War: The Battle for Crypto Territory
This three-day family feud is essentially a covert struggle between two factions in the fields of retail investors: one side is World Liberty Financial, led by Trump's eldest son [Donald Jr.], while the other is the Fight Fight Fight team, orchestrated by Trump's old friend [Bill Zanker].
The incident was triggered on June 3 when Magic Eden suddenly announced the launch of the [Official TRUMP Wallet], claiming to have obtained authorization from the Trump brand. As a result, within 24 hours, the three Trump brothers collectively issued a statement to distance themselves, with Eric even threatening to sue the other side.
Market Reaction: Token Roller Coaster and the Scythe of Retail Investors
In the meantime, the price of the $TRUMP token took a roller coaster ride. On the day the incident broke on June 3, the token plummeted from $75 to $12, with a daily volatility of 84%. However, a dramatic reversal occurred on June 7 when WLFI suddenly announced a significant increase in holdings, directly consuming 80% of the circulating supply, forcefully pulling the price back to the $18 mark.
Democratic lawmakers chose this moment to strike, accusing the Trump family of exploiting the presidential aura to harvest retail investors. Is this a scripted performance, or is there another explanation?
The harshest criticism came from New York Senator MerKley, who directly referred to the list of TRUMP token holders as the [Presidential Beneficiary List], while divisions also emerged within the Republican Party, with even Trump's staunch ally Cynthia Lummis rarely questioning.
Deep Game: The Power Restructuring of the Crypto Empire
Behind the scenes is a covert war over the Trump family's crypto territory. The official wallet that WLFI plans to launch aims at the presidential throne of cryptocurrency; meanwhile, the Fight Fight Fight team is deeply engaged in the NFT space, attempting to replicate the success of Trump's digital trading cards.
This internal struggle is essentially a fight for control over the Trump brand in the Web3 era.
Interestingly, Trump himself remained silent throughout. But in my opinion, regardless of which side wins, the Trump brand stands to benefit. Just like when Musk launched a coin in 2024, Trump's retweet congratulating him was valued at over $120 million.
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