Donald Trump Jr. has rebutted the Trump family’s involvement in the recently announced “Trump Wallet.”
However, he revealed that official crypto wallets have been developed through the world’s Liberty Financial.
Trump’s son rebuts the “Trump Wallet” news
On June 3, NFT Marketplace’s Magic Eden announced its partnership with the team behind President Donald Trump’s meme coin and launched the official Trump brand crypto wallet.
The platform’s promotion includes screenshots from TrumpWallet.com, with the catchphrase “The first and only crypto wallet for a true Trump fan.” The product also claims to offer users the opportunity to join the waitlist and participate in a $1 million Trump gift.
Jack Lu, co-founder of Magic Eden, also posted about his X-profile collaboration, saying it reflects his company’s commitment to encrypt a larger audience. The official Trump Memecoin X account has also confirmed the initiative.
Following the news, Trump’s sons took him to social media and claimed they didn’t know they existed. Don Jr. took part in social media and said:
“The Trump organization is not involved in this wallet product. Eric Trump and I know nothing about it.”
Eric issued another statement in favour of the brothers, denying the product’s relationship with the first family. However, his brother revealed that Trump’s organization is working on another wallet project, in collaboration with World Liberty Financial, which is due to be released soon.
Will the Trump family take legal action?
A New York Times report highlighted that Eric escalated the conflict. The president’s son is said to be saying his family will pursue legal action against the creators of the official Trump wallet.
“There are no deals on this product,” he emphasized. “There is no agreement on this product. It is not approved.”
In response to the announcement of Magic Eden, in a follow-up post for X, he also warned against using Trump’s name on products that have not received Go-Amead.
Over the past four months, the first family and their partners have launched several crypto initiatives. These include World Liberty Financial, The Trump, Melania Meme Coins and USD1 Stablecoin, and will release utility tokens through Trump Media.
Nevertheless, the crypto community has raised concerns about growing involvement in the crypto industry. Former White House communications director Anthony Scaramucci previously said these efforts could create “a pathway for some degree of corruption.”
The project is also facing scrutiny in the US Senate. Lawmakers recently launched an investigation into them citing concerns about potentially illegal funding, foreign influence and abuse of political power.
Binance Free $600 (Cryptopotato Exclusive): Use this link to register for a new account and receive an exclusive $600 welcome offer on Binance (more details).
Exclusive offer for Bybit’s Cryptopotato Leader: Use this link to sign up and open a free $500 position on your coin!
