The launch of a Trump-branded wallet has ignited a family dispute, with Donald Trump’s sons publicly distancing themselves and even threatening legal action. This internal strife has not hindered the activity surrounding Trump-linked tokens and ventures, which continue to see significant exchange movements and expansion within their ecosystem. On June 3rd, excitement surged after a new website announced President Donald Trump’s latest crypto initiative in collaboration with Magic Eden, introducing “the Official $TRUMP Wallet.”
The announcement generated considerable buzz on social media, but the enthusiasm was fleeting. Surprisingly, the backlash did not stem from critics or regulators but from Trump’s own family. The controversy erupted when crypto researcher Molly White revealed the new site promoting the “$TRUMP Wallet” trading app.
The platform hinted at potential rewards of up to $1 million in $TRUMP tokens, leading to speculation about its launch. Jack Lu of Magic Eden viewed it as a promising stride toward mainstream adoption, supported by the official Trump memecoin account. What started as an exciting new venture quickly devolved into a conflict within the Trump family.
Donald Trump Jr., Eric Trump, and Barron Trump publicly denied any connection to the “$TRUMP Wallet,” highlighting significant discord in their crypto pursuits. Central to the controversy is Bill Zanker, a close ally of Trump and a key player behind the memecoin project. His announcement took the Trump sons by surprise, intensifying tensions, especially with their own venture, World Liberty Financial, already establishing a competing wallet and securing $550 million in token sales.
In a message to the New York Times, Eric Trump escalated matters by declaring the app unauthorized and hinting at potential legal action. Meanwhile, the crypto landscape continued evolving, marked by Melania Trump’s token team transferring $20 million in $MELANIA tokens for liquidity and a wallet linked to the $TRUMP token depositing over $46 million across major exchanges. Additionally, World Liberty Financial made headlines with a $4 million airdrop, distributing 47 USD1 tokens to each participant in their $WLFI sales.
The overall environment suggests that Trump-affiliated ventures are fiercely competing for dominance in the crypto space. As a journalist with experience in digital assets, Samyukhtha L KM closely observes the shifting landscape, questioning the balance between hype and genuine innovation in blockchain technology while reflecting on the challenges of integrating crypto into a finance system still heavily reliant on traditional practices.