HOT: Scandal about Trump Wallet, what is happening?
The emergence of TRUMP Wallet
On June 3, 2025, a website promoting the "official $TRUMP Wallet" appeared, claiming to support cryptocurrency transactions and Trump-branded memecoins, with Magic Eden listed as a partner.
Although the project felt legitimate and attracted interest, the Trump family quickly denied any involvement. The project was announced by the company Fight Fight Fight, which is associated with Trump’s associate Bill Zanker. Despite support from Magic Eden and attractive rewards, the authenticity of the wallet was questioned after the response from Trump.
The Trump family denies and condemns
Just hours after the $TRUMP wallet was announced, members of the Trump family such as Donald Trump Jr., Eric Trump, and Barron Trump collectively denied involvement, asserting that they did not allow the use of the Trump name.
At the same time, the family’s official platform – World Liberty Financial – announced that it would launch its own electronic wallet, turning the incident into a competition. They also sent a cease-and-desist letter to Fight Fight Fight and Magic Eden for unauthorized use of the Trump brand.
The Trump family will launch an "Official" wallet through World Liberty Financial
In response to the incident, the Trump family announced that it would develop its own official digital wallet through World Liberty Financial (WLFI), with Donald Trump Jr. as the "Web3 Ambassador." The Trump family has stakes in WLFI and benefits from transaction fees.
WLFI has raised over $550 million and is under scrutiny with stablecoin USD1. The announcement of the "official" wallet is a warning that any cryptocurrency products bearing the Trump name must be explicitly authorized.
