A new cryptocurrency project tied to former President Donald Trump ignited controversy across social media platforms on Tuesday afternoon. The $TRUMP Wallet app, promoted as an official trading platform by the developers of president meme coin in partnership with Magic Eden, sparked immediate backlash from Trump’s own family members.
The developers claimed the app would enable users to buy and sell popular cryptocurrencies through a new digital platform. Magic Eden’s official account even posted confirmation of their involvement in the wallet project shortly after it went live online.
However, Trump’s sons, Donald Trump Jr. and Eric president, quickly rejected any association with the app or the memecoin team. Eric Trump stated he had no knowledge of the platform and warned that legal action would follow against any unauthorized use of the Trump family name. He clarified there was no approved agreement to release the wallet and insisted the developers had no right to use their brand in this capacity.
Barron Trump publicly distances from project
Trump’s youngest son, Barron, also weighed in by posting a statement distancing the entire family from the app. The cancellation of the project, however, did not explain the sudden suspension of the official X account for the app, @TrumpWalletApp, which would only further confusion surrounding it.
The dispute exposed the increasing tension among several cryptocurrency ventures associated with Trump, World Liberty Financial being one of them. That’s a separate firm co-founded by the president sons, which has already done over $550 million in digital currency sales and is about to launch its official wallet.
The memecoin’s creator, Bill Zanker, a long-time business associate of president, has not responded to the family’s legal threats. Zanker and his team currently control 80 percent of the total $TRUMP coin supply, which could be worth billions.
Nonetheless, This ongoing crypto drama highlights increasing competition among groups attempting to profit from the Trump name and crypto market momentum.
