A crypto wallet claiming Trump ties launched with fanfare—and was swiftly disavowed by the Trump family. Here’s a timeline of the chaos and what it reveals about the risks of decentralization.
In the latest crypto controversy, a Trump-branded digital wallet announced on June 3, 2025, ignited confusion and denials from the Trump family, raising questions about branding, decentralization, and the intersection of politics and cryptocurrency.
The Announcement
On June 3rd, 2025, following an initial scoop by crypto writer, critic, and researcher Molly White, the NFT marketplace Magic Eden announced the upcoming launch of the "Official $TRUMP Wallet." The wallet, promoted as the first and only crypto wallet for Trump supporters, promised users the ability to trade $TRUMP tokens, Bitcoin, Solana, and other cryptocurrencies. A promotional campaign offered $1 million in rewards to early adopters.
Immediate Denials
Within hours of the announcement, Eric Trump and Donald Trump Jr. publicly denied any involvement with the wallet. Eric Trump stated, "I run @Trump and I know nothing about this project!" Donald Trump Jr. echoed the sentiment, asserting that the Trump Organization had "zero involvement" and teased an upcoming official wallet from their own crypto venture, World Liberty Financial. Even Barron Trump made his first-ever post on X to confirm the family's non-involvement.
The Confusion
On the Trumpwallet.com site announced by Magic Eden, the $TRUMP Wallet is described as developed in collaboration with GetTrumpMemes.com. The site even states, "Yes! This is The Official $TRUMP Wallet by President Trump."
GetTrumpMemes.com is operated by Fight Fight Fight LLC, co-owned by longtime Trump ally Bill Zanker and CIC Digital LLC—a company affiliated with the Trump Organization. This complex web of associations led to confusion about the wallet's legitimacy and the family's involvement.
Market Reaction
The conflicting messages caused volatility in the crypto market. Magic Eden's native token, ME, initially surged by 32% following the wallet's announcement but faced uncertainty amid the controversy.
Implications
This incident highlights the challenges of decentralization, where multiple entities can leverage a brand without clear oversight. For the Trump administration, it underscores the complexities of intertwining political branding with cryptocurrency ventures. The situation also raises broader concerns about the potential for misinformation and the importance of transparency in the rapidly evolving crypto landscape.
As the Trump family distances itself from the $TRUMP Wallet, the episode serves as a cautionary tale about the perils of brand association in decentralized projects and the need for clear communication and governance in the crypto space.
