Trump-branded crypto wallet sparks controversy
Date: 2025-06-05 Author: Gabriel Deangelo Categories: BUSINESS
On June 3, a website appeared on the Internet announcing the launch of the "Official TRUMP Wallet" associated with the Official Trump (TRUMP) memecoin. The initiator of the project was businessman Bill Zanker, a long-time partner of the current US president. According to the developers, the new wallet was supposed to be a trading application for cryptocurrency transactions. The Magic Eden platform, which specializes in NFTs, was used for its implementation.
Magic Eden soon confirmed the authenticity of the project. Its founder Jack Lu said that users will be able to trade leading digital assets, including Bitcoin and Dogecoin. Confirmation also came from the official TRUMP memecoin account on X, which emphasized that the goal of the project is to involve Trump supporters in the crypto economy.
However, the reaction of Trump's family members was sharply negative. Donald Trump Jr. said that their family business has nothing to do with the presented wallet. Eric Trump said that he was hearing about this project for the first time, and his younger brother Barron also disowned the initiative, emphasizing that the Trump family has nothing to do with it.
Eric told reporters that they intend to challenge the use of the family name in court, since there was no official agreement or approval of the project from the family. According to him, using the TRUMP brand without the consent of the family could lead to serious legal consequences.
According to journalists, the reason for such a harsh response could be that Trump's sons themselves are developing a similar product. Donald Trump Jr. in his post hinted at the imminent launch of an official wallet from their team as part of the World Liberty Financial project.
Later, Eric Trump addressed Magic Eden directly, warning about the possible consequences of using the family name in an unauthorized project. That evening, the @TrumpWalletApp account in X was blocked.
It is worth noting that since the beginning of 2025, Donald Trump has been actively promoting initiatives to liberalize cryptocurrency regulation in the United States. His team and family have already launched a number of related projects - including the American Bitcoin mining company, the TRUMP memecoin, the World Liberty Financial DeFi platform, and the Trump Media & Technology Group crypto reserve.
