As rival Trump-affiliated groups battle over trademark rights in the cryptocurrency space, a high-stakes power struggle is emerging.
According to a Bloomberg report published yesterday, Thursday, June 5, the company World Liberty Financial (WLFI) , linked to the Trump family, has sent a cease and desist letter to Fight Fight Fight LLC , also linked to the Tycoon's family.
This event clearly highlights the emergence of tensions within Donald Trump's sphere of influence in the cryptocurrency sector, which is constantly growing.
Fight Fight Fight LLC is led by Bill Zanker, a longtime friend and promoter of Donald Trump, and is the same company that helped launch the TRUMP meme coin earlier this year. Zanker's company also owns the website GetTrumpMemes.com, which promotes the TRUMP token.
The cease-and-desist letter challenges the company’s plans to launch a Trump-branded cryptocurrency wallet in partnership with NFT marketplace Magic Eden .
Trump Family Rejects Project as Crypto Trademark Battle Rages
The warning came after Fight Fight Fight and Magic Eden opened a waiting list for the Trump-branded wallet earlier this week.
Apparently, the project was moving forward without the involvement of the Trump Organization or the approval of WLFI.
Donald Trump Jr. , WLFI's Web3 ambassador, addressed the issue on social media on June 3. The eldest son of Donald and Ivana Trump said:
“The Trump Organization has no involvement with this wallet.”
He then added that WLFI is planning its official launch “soon . ”
Magic Eden Company confirmed its partnership with Fight Fight Fight and verified the @TrumpWalletApp account on X. The account has since been deleted. According to Bloomberg's report, the cease-and-desist letter was also sent to Magic Eden Company.
Other members of the Trump family, including Eric and Barron Trump , have also posted messages distancing themselves from the wallet project and reiterating their support for WLFI 's version .
As mentioned in the opening of the article, this dispute highlights a deepening of divisions within Trump’s sphere of influence in the digital assets sector. While WLFI is directly linked to the Trump family, the satellite company Fight Fight Fight retains control of the meme coin that bears his name.
Despite the resistance, the TRUMP token has been a huge financial success. According to Chainalysis , the project has generated more than $300 million in fees for its owners.
Fight Fight Fight would share 80% of the token's supply with CIC Digital LLC , another Trump- affiliated group .
Zanker ’s company takes its name from Trump’s slogan “Fight, Fight, Fight,” coined after his first assassination attempt. But it now finds itself at odds with Trump’s inner circle.
The cease-and-desist letters add legal weight to an increasingly public divide over who controls Trump’s cryptocurrency brand and how far each side is willing to go to reclaim it.
TRUMP Token Loses $130M as Warning Wreaks Havoc on Market
Minutes after the World Liberty Foundation issued a cease-and-desist letter to the creators of Trump Wallet, the meme coin TRUMP lost more than $130 million in market capitalization.
According to CoinGecko data , the token has dropped 11% in 24 hours and is now trading at $9.61 , with a total market cap of $1.92 billion. Trading volume, however, has increased 129% to over $713 million, reflecting a sudden spike in activity following the news.
The Trump Wallet website says the project is “President Trump’s official $TRUMP wallet” and lists Magic Eden and GetTrumpMemes.com as launch partners.
GetTrumpMemes.com is owned by Fight Fight Fight LLC, a subsidiary of CIC Digital LLC, an entity affiliated with the Trump Organization. Together, the two companies hold the majority of the TRUMP token supply.
Bill Zanker, who helped launch the TRUMP meme coin and several Trump-branded NFT collections, is listed in Fight Fight Fight LLC filings and also holds a significant stake in TRUMP tokens through CIC Digital. He is currently working on a cryptocurrency-themed Monopoly-style game.
This isn’t the first time Trump-related cryptocurrency moves have caused confusion. Last year, Trump Media and Technology Group initially denied reports that it was raising capital to buy Bitcoin, only to later confirm that it had raised $2.5 billion for that very purpose.
World Liberty Financial , which has called Trump a “major cryptocurrency advocate ,” recently announced plans to launch a dollar-backed stablecoin, USD1 , with BitGo as custodian. The project sees Trump’s children and youngest son Barron as ambassadors for the platform.
