The "TrumpWalletApp" account on X has been suspended amidst a swirl of confusion and denials from the Trump family regarding its legitimacy. The wallet, which had a verification badge from Magic Eden, claimed to be the "first and only crypto wallet for true Trump fans" and would support the trade of the TRUMP token and other digital assets, including Bitcoin (BTC). This announcement rocked the crypto industry to its foundation. Magic Eden had asserted that the wallet was the “official” wallet, Trump’s branding and IP featured proudly. Yet, Eric Trump and Donald Trump Jr. have each in turn publicly disavowed the project.
Family Denials and Disavowals
Pledging fealty Despite running The Trump Organization, Eric Trump said he knew “absolutely nothing about this project.” For those reasons, he emphasized that the Trump family has not approved the crypto wallet from Magic Eden. He further cautioned the team to tread dangerously lightly if applying the Trump name in any off-limit endeavor.
"There is no deal for this product" - Eric Trump
"There is no agreement for this product. It has not been approved" - Eric Trump
Donald Trump Jr. denied any involvement. He added, World Liberty Financial (WLFI) has plans to roll out an official wallet within the next month. The lack of clarity has caused a torrent of wild speculation and confusion regarding the purpose of the “TrumpWalletApp.”
Magic Eden's Stance
Based on the Trump family’s claims to the contrary, Magic Eden’s staffers continued to assert their stance that the wallet was legit. Especially when they claimed that this wallet is indeed the “official” one. Moreover, they pointed out that Magic Eden has worked with the $TRUMP project on several occasions to bolster their past NFT launches.
"It is the official $TRUMP Wallet carrying the official Trump branding and IP. Magic Eden has historically worked with the $TRUMP project to support their prior NFT launches and are excited that we’re working on a much larger project now with $TRUMP Wallet" - Magic Eden's team
This announcement has only deepened the intrigue surrounding the wallet. It further poses serious questions about the contractual relationship or tacit understandings between Magic Eden, the TRUMP token developers, and the Trump family.
Community Reactions and Speculations
It’s been hard to miss the crypto community’s outrage and spectacle over this entire affair. Molly White is perhaps the most famous critic of the crypto space. She called the announcement “total fucking shitshow.”
"It seems like the breakdown is between the Zanker team and the Trump sons, but pretty incredible they claim never to have even heard of it." - Molly White
Ripple’s CTO, David Schwartz, weighed in on the matter, describing it as “a very strange case.” He too proposed that the best and most charitable interpretation is a lack of communication or direct knowledge between the parties.
"If this is correct, The Trump Organization may be very unhappy with this announcement — especially if they planned to launch their own wallet" - David Schwartz
A glance at the official website for the wallet uncovers a treasure trove of tantalizing tidbits! Users who enter the wallet’s waitlist will be able to participate in $1 million of memecoin rewards, further deepening the excitement surrounding this developing story.
