The new website featuring illustrations of Donald Trump launched on Tuesday, showcasing him flexing and celebrating. This site claims to represent the “official $Trump wallet” and offers products that facilitate buying and selling using the former president’s cryptocurrency.
The website prominently displays the name Trump Coin$Trump and encourages users to join a waitlist for this digital wallet. I first stumbled upon it in the Crypto Newsletter. Magic Eden, a recognized cryptocurrency platform, announced its partnership with Trump’s digital coin team to develop this wallet. Various Twitter/X accounts also advertised wallet products related to one of Trump’s cryptocurrencies.
“The $Trump Wallet with @magiceden is coming soon. Join the $Trump Community!”
While the announcement gives an impression of authenticity and official support, there are concerns from Trump’s family.
Donald Trump Jr. quickly stated, “The Trump organization is not involved in this wallet product,” on social media. Following that, Eric Trump expressed, “I’m running @Trump, but I don’t know anything about this project!” Even Baron Trump seemed to clarify, saying, “To be clear, our family is not involved in this wallet.”
Trump Jr. mentioned that he is “tirelessly working” on an official wallet in collaboration with World Liberty Financial, another family venture established last year.
The cryptocurrency sector has garnered a reputation for fraud, scams, and internal strife. The recent fallout between Magic Eden and World Liberty Financial seems to stem from tensions involving Trump’s long-time business partner and his sons. This partner runs a company tied to the Trump organization and another venture called the Battle of the World. Furthermore, the Trump Organization owns a business named CIC Digital, reported to have around $2 billion in reserves and significant interests in cryptocurrency transactions.
Magic Eden and Zanker’s company both claimed on Tuesday that the newly announced crypto wallet had Trump’s endorsement and was in collaboration with Magic Eden.
Eric Trump countered these claims. Later on Tuesday, he issued a strong statement via social media: “This project is not permitted by @Trump. @magiceden, I am very careful about using our name on projects that are not approved and unknown to anyone in our organization.”
In recent months, Trump’s family and associates have introduced various crypto and digital currency projects. Some of these include meme coins featuring animated characters and stablecoins meant to hold a constant dollar value. Interestingly, Melania Trump also launched her own coin.
During his first term, Trump was quite critical of cryptocurrency, but it seems his perspective has shifted since then. He has since engaged with the industry, accepting donations in cryptocurrency and addressing major crypto conferences. Trump even hosted crypto leaders at the White House, showcasing their projects at a private golf club near Washington, D.C. Notably, his administration appointed a “crypto Czar,” David, to oversee the sector. Recent investigations into cryptocurrency companies have, however, been postponed.
The White House, Magic Eden, and Zanker did not respond to requests for comments.
